TOPICS > Economy

News Wrap: Federal Reserve Reports Economic Growth Across U.S.

April 13, 2011 at 6:20 PM EST
In other news Wednesday, a Federal Reserve report said the U.S. economy improved in every part of the country. In Pakistan, intelligence officials reported U.S. drone aircraft killed six suspected Taliban fighters near the Afghan border. The attacks come two days after Pakistan's spy chief asked the CIA to limit drone attacks.
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HARI SREENIVASAN: The U.S. economy has improved in every part of the country this spring. The Federal Reserve released the findings today in its regional survey.

On Wall Street, the news helped stocks recover from early losses. The Dow Jones industrial average gained seven points to close just under 12,271. The Nasdaq rose 16 points to close at 2,761.

In Pakistan, intelligence officials reported U.S. drone aircraft killed six suspected Taliban fighters today. The officials said drones fired seven missiles in a forested region of South Waziristan near the Afghan border. Pakistan’s spy chief met with CIA Director Leon Panetta on Monday and reportedly asked for new limits on the missile attacks.

Former Egyptian President Hosni Mubarak has been detained as part of a far-reaching corruption probe. The announcement came early today, hours after Mubarak was hospitalized.

We have a report narrated by Carl Dinnen of Independent Television News.

CARL DINNEN: When people learned Hosni Mubarak was in hospital last night, they gathered outside.

Under questioning from prosecutors, he had suffered what’s being described as a heart crisis, although some reports suggested he’d deliberately not eaten for 48 hours. But Mubarak’s hospital is now his prison. He’s been detained for 15 days, pending the investigation.

It’s a striking turn of events for a man who was president of Egypt just two months ago. Investigators said he had bridled at being called the accused, telling them to remember he was president. The reported answer: “No one is above the law.”

MAN (through translator): Are prisons made for some people and not others? No. Prison are for any wrongdoers. And this is a courageous decision from the public prosecutor.

MAN (through translator): Honestly, I was very happy, because, since the first day he said he was stepping down, he should have been investigated, and his children as well.

CARL DINNEN: And his children are now being investigated, Cairo’s Torah prison the new home to Mubarak boys Gamal and Alaa. They join more than a dozen former regime officials, so no discreet retirement to a luxury villa in Saudi for the most notable victim of the Arab spring. Instead, a closely guarded hospital built in the shape of a pyramid, the ancient resting place of Egyptian despots.

HARI SREENIVASAN: Plans now call for Mubarak and his two sons to appear in court next Tuesday.

Thousands of women and children marched in Syria today, demanding the release of some 350 men detained in a crackdown on dissent. The protesters blocked a main coastal highway between the cities of Tartous and Banias. The men were detained in that area. Witnesses reported about 100 of the detainees were later released.

A federal jury in San Francisco has convicted Major League Baseball’s home-run king, Barry Bonds, of obstruction of justice. The jury deadlocked on three other counts in the former star’s perjury trial. The judge declared a mistrial on those. Bonds was accused of lying to a federal grand jury when he denied that he knowingly used steroids and human growth hormone.

Stereo equipment magnate and “Newsweek” magazine owner Sidney Harman died late Tuesday in Washington. A family statement cited complications from leukemia. Harman made his fortune in the 1950s, as his company Harman Kardon pioneered the first high-fidelity stereo receivers. Later, he served in the Commerce Department under President Carter and was married to former Congresswoman Jane Harman of California. Sidney Harman was 92 years old.

Those are some of the day’s major stories.