Long Island News

RIO DE JANEIRO (AP) — The home Jose Nazare Braga built in the Rocinha shantytown is his life’s work, an investment that grew from a shack to a three-story building over 30 years. A restaurant and a paper-goods store on the ground floor provide income, and his children, grandchildren and great-grandchildren live above. The red-brick building is Braga’s nest egg, his retirement home and an inheritance for his large family.

BERLIN (AP) — The German government has moved to oversee more closely the country’s move from nuclear power to renewable energy – a mammoth 10-year project for Europe’s biggest economy. Chancellor Angela Merkel said Wednesday she will meet all of Germany’s 16 state governors twice a year to take stock of the transformation’s progress and shortcomings. Critics have faulted the government for a lack of coordination

MUMBAI, India (AP) — Germany’s Adidas Group said Wednesday that Indian police are investigating two former executives from its Reebok India unit for an alleged fraud that could cost the company tens of millions of dollars. Adidas spokesman Jan Runau said the executives under investigation are former managing director Shubhinder Singh Prem and former chief operating officer Vishnu Bhagat.

PLAINFIELD, Vt. (AP) — The MacLaren brothers are third-generation dairy farmers, but they will likely be the last in their family. After working all their lives on the hillside farm in Vermont that their grandfather bought in 1939, rising to milk cows at 3 a.m.

WASHINGTON (AP) — Oklahoma oil billionaire Harold Hamm didn’t wait long to make a nearly $1 million donation to a group supporting Republican presidential candidate Mitt Romney after he became one of Romney’s top energy advisers in March. Just weeks after Hamm joined the Romney campaign, he gave $985,000 to a pro-Romney super PAC, according to campaign reports. Hamm’s company, Continental Resources Inc., oversees oilfield stakes in North Dakota and Montana, and Hamm has been disdainful of President Barack Obama’s energy policies.

WASHINGTON (AP) — Regulators are examining whether Morgan Stanley, the investment bank that shepherded Facebook through its highly publicized stock offering last week, selectively informed clients of an analyst’s negative report about the company before the stock started trading. Rick Ketchum, the head of the Financial Industry Regulatory Authority, the self-policing body for the securities industry, said Tuesday that the question is “a matter of regulatory concern” for his organization and the Securities and Exchange Commission. The top securities regulator for Massachusetts, William Galvin, said he had subpoenaed Morgan Stanley