China ATM Glitch Nets Man Life

Many applaud man for taking on abusive arm of state; he confessed, will be executed

(NEWSER) - Public sentiment in China seems to be coming down squarely on the side of a man convicted of entering a Shanghai police station and stabbing six officers to death, the Washington Post reports. Yang Jia, who confessed to the murders, had twice claimed to be the victim of police brutality; now countrymen fed up with abusive state security services are protesting his death sentence. More»

Panicked thousands rush to grab savings from Bank of East Asia

(NEWSER) - Rumors that the Bank of East Asia was in trouble spread like wildfire through Hong Kong yesterday, causing a panicked mob to descend on the bank as thousands withdrew their life savings, the Financial Times reports. Police moved in to keep order as crowds demanded their money. BEA's tycoon chairman blamed "malicious rumors" for the panic and vowed to buy shares in the bank himself. More»

(NEWSER) - Barclays will pick up the US capital-markets business of Lehman Bros. in a $2-billion deal worked out today that will go before a bankruptcy judge at 5pm and Lehman creditors shortly after that, the Wall Street Journal reports. Barclays backed away from buying all of Lehman over the weekend, but a deal was salvaged by Lehman's bankruptcy, which made it easier to leave "bad assets" at the holding company to be liquidated by the court. More»

Dynamic economy means people's freedoms are slowly growing

(NEWSER) - With the Olympics casting an unflattering spotlight on the state of human rights in China, the New York Times takes a longer view, reporting that freedoms have gradually expanded over decades of economic reform. Repression remains in public expression and assembly, but Chinese people can now often live where they choose and travel abroad. Even with heavy censorship, technology allows them far more information than in the past. More»

Non-bank teller machines make easy targets, police say

(NEWSER) - ATM theft is a labor-intensive crime: You have to steal a pickup, slam it through a gas station storefront, and haul the ATM out. But that’s exactly what an increasing number of criminals are doing, MSNBC reports. From 2000 to 2006, thieves nabbed about 120 ATMs a year across the country. This year, authorities already have reported 140 thefts—in north Texas alone. While that's an extreme example, thefts are up by smaller amounts all over. More»