Today's Reuters News Headlines - Yahoo! News: | | China seals Bo's fate ahead of November 8 leadership congress Fri,28 Sep 2012 06:45 AM PDT Reuters - BEIJING (Reuters) - China's ruling Communist Party accused disgraced politician Bo Xilai of abusing power, taking huge bribes and other crimes on Friday, sealing the fate of a controversial leader whose fall shook a leadership handover due at a congress from November 8. The once high-flying Bo now faces a criminal investigation that stemmed from a murder scandal, and will almost certainly be jailed. With the Communist Party congress about six weeks away, further steps in the case could come before then, helping pave the way for a transition of power, experts said. ...
Full Story | Top | Obama, Netanyahu united against Iran nuclear drive Fri,28 Sep 2012 10:52 AM PDT Reuters - WASHINGTON (Reuters) - President Barack Obama and Israeli Prime Minister Benjamin Netanyahu on Friday expressed solidarity on the goal of preventing Iran from acquiring a nuclear weapon, the White House said, amid signs of easing tensions over their differences on how to confront Tehran. Obama, who opted not to meet Netanyahu on his U.S. visit, spoke by phone to the Israeli leader, who used his U.N. speech on Thursday to keep up pressure on Washington to set a "red line" for Tehran. ...
Full Story | Top | France unveils tough budget, Spain's Rajoy wins time Fri,28 Sep 2012 10:37 AM PDT Reuters - PARIS/MADRID (Reuters) - France unveiled an austerity budget that would tax business and the super rich, but a report showing Spain's banks needed a manageable 59 billion euros in new funds bought time for Prime Minister Mariano Rajoy as he seeks to avoid a bailout. Socialist President Francois Hollande's 2013 budget amounts to France's toughest belt-tightening for 30 years as the debt crisis takes its toll on the euro zone. The package aims to narrow France's deficit to 3.0 percent of national output next year from 4. ...
Full Story | Top | BofA to pay $2.43 billion to settle shareholder lawsuit Fri,28 Sep 2012 09:35 AM PDT Reuters - NEW YORK/CHARLOTTE, North Carolina (Reuters) - Bank of America Corp agreed on Friday to pay $2.43 billion to settle a shareholder lawsuit over its 2008 buyout of Merrill Lynch in one of the largest-ever settlements of a securities fraud class action. The accord is by far the biggest settlement of an investor class action arising from the 2008 financial crisis. Bank of America denied allegations it misled shareholders ahead of the Merrill deal, causing them huge losses, but said it agreed to settle to put the case behind it. The bank expects to incur total litigation expenses of about $1. ...
Full Story | Top | Consumers lift spending to pay for pricier gasoline Fri,28 Sep 2012 08:22 AM PDT Reuters - WASHINGTON (Reuters) - U.S. consumer spending rose in August as households stretched to pay for higher gasoline prices and factory activity in the Midwest contracted this month for the first time in three years, pointing to lackluster economic growth. The Commerce Department said consumer spending rose 0.5 percent after an unrevised 0.4 percent gain in July. The increase was the biggest in six months, but was largely accounted for by pricier gasoline. When adjusted for inflation, spending edged up a scant 0.1 percent after increasing 0.4 percent in July. ...
Full Story | Top | Samsung wins reconsideration of Galaxy Tab sales ban Fri,28 Sep 2012 10:57 AM PDT Reuters - SAN FRANCISCO (Reuters) - A U.S. appeals court ruled on Friday that a lower court should reconsider a sales ban against Samsung's Galaxy Tab 10.1 won by Apple in a patent dispute with the South Korean electronics maker. The injunction was put in place ahead of a month-long trial that pitted iPhone maker Apple Inc against Samsung Electronics Co Ltd in a closely watched legal battle that ended with a resounding victory for Apple last month on many of its patent violation claims. ...
Full Story | Top | Mosques discourage Libya demos to avert violence Fri,28 Sep 2012 07:11 AM PDT Reuters - TRIPOLI (Reuters) - Mosque preachers told Libyans on Friday to call off planned demonstrations against militia groups out of fear marches could lead to renewed bloodshed. The mufti of Libya, Sadeq al-Gharyani, said in a statement published by the LANA state news agency that a march called for later on Friday should be halted "because this march will not be secure". "I call on the people not to participate in this march so that no blood is spilled," he said. "There are some people who want to use these protests to cause violence. ... Full Story | Top | Syria rebels say launch "decisive battle" in Aleppo Fri,28 Sep 2012 02:18 AM PDT Reuters - BEIRUT (Reuters) - Syrian rebels said they had launched a major attack in Aleppo on Thursday at the start of a "decisive battle" to push President Bashar al-Assad's forces out of the country's biggest city. Heavy fighting was reported in around 14 districts by opposition activists and several rebel brigades, though the scale of the fighting could not be confirmed independently. A video posted on YouTube by rebels showed Abdulqadir al-Saleh, the head of the biggest rebel force in Aleppo, the Tawheed Brigade, carrying a walkie talkie and announcing the start of the assault. ...
Full Story | Top | Protesters, police clash in Bahrain Fri,28 Sep 2012 10:30 AM PDT Reuters - ABU DHABI (Reuters) - Around one hundred anti-government protesters threw stones and petrol bombs as riot police tried to disperse them with tear gas and stun grenades in Bahrain on Friday, witnesses said, after an earlier demonstration attended by thousands passed peacefully. At least two protesters were injured in the clashes, the witnesses said, which took place after a march near the capital Manama, which had been called for by main opposition bloc al-Wefaq and was authorized by the Bahraini authorities. Bahrain, headquarters of the U.S. ...
Full Story | Top | Spanish bank audit buys more time for PM Rajoy Fri,28 Sep 2012 10:35 AM PDT Reuters - MADRID (Reuters) - An independent audit of Spanish banks confirmed a manageable 59.3 billion euros in extra capital is needed for them to ride out a serious economic downturn, buying time for Prime Minister Mariano Rajoy who faces intense pressure to seek a bailout. The audit, carried out by consultant Oliver Wyman, is a condition of getting European funds to patch up Spanish banks damaged by a prolonged real estate crash and identifies which banks need more capital and precisely how much each requires. ...
Full Story | Top | Netanyahu's Iran cartoon bomb timed to make big impact Fri,28 Sep 2012 09:38 AM PDT Reuters - NEW YORK (Reuters) - The "Bibi bomb" was born of days of discussions between Israeli Prime Minister Benjamin Netanyahu and a brains trust of close advisers on how to make a powerful impact in yet another speech on Iran's nuclear program. "The diagram made his address special," a senior official in Netanyahu's entourage said on Friday about the cartoonish drawing of a bomb the Israeli leader, who is nicknamed "Bibi," used at the U.N. General Assembly as a prop to illustrate what he sees as Iran's drive for an atomic weapon. ...
Full Story | Top | Kenya troops fight on beaches in assault on Somali rebel city Fri,28 Sep 2012 10:16 AM PDT Reuters - MOGADISHU (Reuters) - Kenyan troops attacked the Somali port city of Kismayu on Friday, seeking to drive al Qaeda-linked al Shabaab militants from their last major stronghold and end a five-year rebellion. The loss of the southern port would deal a huge blow to al Shabaab as it is a lucrative source of revenue and a centre for operations over areas it has controlled in Somalia since 2007, but by nightfall, it was not clear who was in control. Residents said shelling had subsided after earlier fighting near a beach just outside Kismayu. ... Full Story | Top | Israelis see no Iran war this year after Netanyahu's speech Fri,28 Sep 2012 08:12 AM PDT Reuters - JERUSALEM (Reuters) - Prime Minister Benjamin Netanyahu's U.N. speech about Iranian nuclear advances has dampened speculation in Israel that he could order a war this year. Analyzing Thursday's address in which Netanyahu literally drew a "red line" on a cartoon bomb to show how close Iran was to building nuclear weaponry, commentators saw his deadline for any military action falling in early or mid-2013, well after U.S. elections in November and a possible snap Israeli poll. "The 'decisive year' of 2012 will pass without decisiveness," wrote Ofer Shelah of Maariv newspaper on Friday. ...
Full Story | Top | Ex-IRS examiner charged with naming whistleblower Fri,28 Sep 2012 07:20 AM PDT Reuters - WASHINGTON (Reuters) - A former U.S. Internal Revenue Service examiner was arrested on Thursday and charged with exposing an IRS whistleblower and interfering with the audit of an international bank, said the U.S. Attorney for the Southern District of New York. Dennis Lerner, 59, was arrested at his home in Edgewater, New Jersey, and appeared before a judge in Manhattan, according to a statement from U.S. Attorney Preet Bharara. Lerner was charged with violating federal conflict of interest laws and improperly disclosing confidential IRS information. He could face up to 20 years in prison. ... Full Story | Top | Russian Orthodox leader defends ties with Kremlin Fri,28 Sep 2012 04:58 AM PDT Reuters - MOSCOW (Reuters) - The head of the Russian Orthodox Church on Friday rejected criticism of his increasingly strong relationship with President Vladimir Putin, saying that close ties between the church and state were good for society. Opposition groups, and some Russian Orthodox believers, have voiced concern about the Church's closeness to the state in a debate fuelled by the two-year jail terms given last month to three members of the Pussy Riot punk band who protested in a Moscow cathedral. ...
Full Story | Top | Minneapolis police probe rampage that killed 5, including gunman Fri,28 Sep 2012 09:42 AM PDT Reuters - MINNEAPOLIS (Reuters) - Minneapolis police on Friday sorted through evidence from a shooting rampage that left at least five people dead, including the founder of a sign company, a UPS driver and the man who opened fire at the business. The suspected gunman in the Thursday shooting had once worked at Accent Signage Systems Inc and police were not searching for other suspects. Police have not officially released a motive for the attack but were treating it as a work-place shooting. The suspected gunman apparently died from a self-inflicted gunshot wound, police said. ... Full Story | Top | California man behind anti-Muslim film jailed over probation Thu,27 Sep 2012 09:44 PM PDT Reuters - LOS ANGELES (Reuters) - An Egyptian-American man behind an anti-Islam film that has stoked violent protests across the Muslim world was arrested on Thursday in California for allegedly violating his probation, and a federal judge ordered him jailed without bond. Nakoula Basseley Nakoula, 55, was taken into custody at an undisclosed location by U.S. marshals and brought to court in Los Angeles still wearing his street clothes but handcuffed and shackled at the waist. ...
Full Story | Top | High gasoline prices lift consumer spending in August Fri,28 Sep 2012 06:04 AM PDT Reuters - WASHINGTON (Reuters) - U.S. consumer spending rose in August by the most in six months as households stretched to pay for higher gasoline prices, according to a government report on Friday that pointed to lackluster economic growth in the third quarter. The Commerce Department said consumer spending increased 0.5 percent after an unrevised 0.4 percent gain in July. Last month's rise was in line with economists' expectations. Consumer spending accounts for 70 percent of U.S. economic activity and the second straight month of increase mostly reflected higher gasoline prices, which rose 28. ...
Full Story | Top | U.S. call for "cool heads" in China-Japan island dispute goes unheeded Fri,28 Sep 2012 12:54 AM PDT Reuters - NEW YORK (Reuters) - U.S. Secretary of State Hillary Clinton urged China and Japan on Thursday to let "cool heads" prevail in a festering dispute over a cluster of East China Sea islands, but hours later Chinese and Japanese diplomats traded barbs at the United Nations. Clinton met Chinese Foreign Minister Yang Jiechi on the sidelines of this week's U.N. General Assembly meeting in New York and said it was important to ratchet down the quarrel over the islands that has soured ties between Asia's two largest economies, a senior State Department official said. ...
Full Story | Top | Netanyahu draws "red line" on Iran's nuclear program Thu,27 Sep 2012 08:31 PM PDT Reuters - UNITED NATIONS (Reuters) - Israeli Prime Minister Benjamin Netanyahu drew a "red line" for Iran's nuclear program on Thursday despite a U.S. refusal to set an ultimatum, saying Tehran will be on the brink of developing a nuclear weapon in less than a year. By citing a time frame in an address to the U.N. General Assembly, Netanyahu - who has clashed with President Barack Obama over the urgency of military action against Iran - appeared to suggest no Israeli attack was imminent before the November 6 U.S. presidential election. ...
Full Story | Top | France's 2013 budget hikes taxes on companies, rich Fri,28 Sep 2012 03:35 AM PDT Reuters - PARIS (Reuters) - France's draft 2013 budget imposed a total of roughly 20 billion euros in new taxes on large companies and wealthy households, including hikes in taxation on dividend income and reductions in the tax deductibility of interest payments. The budget, approved by France's cabinet on Friday, said that the creation of a new 75 percent tax on millionaires and higher marginal tax rates on high earners would raise some 530 million euros next year. The lowering of the threshold for wealth tax on individuals would raise a further 1 billion euros. ... Full Story | Top | Obama leads Romney 49-42 percent in latest Reuters/Ipsos survey Thu,27 Sep 2012 12:02 PM PDT Reuters - WASHINGTON (Reuters) - President Barack Obama maintains a lead over Republican challenger Mitt Romney with 40 days left until the November 6 election, the latest Reuters/Ipsos poll said on Thursday. The daily tracking poll said Obama had 49 percent support to 42 percent for Romney among likely voters. Ipsos interviewed 1,194 registered voters online for the survey. The result showed the race basically holding where it has been for days with Obama enjoying an advantage over the former Massachusetts governor. ...
Full Story | Top | Spain's crisis budget aims at spending cuts not tax rises Thu,27 Sep 2012 03:08 PM PDT Reuters - MADRID (Reuters) - Spain announced a crisis budget for 2013 based mostly on spending cuts on Thursday in what many see as an effort to pre-empt the likely conditions of an international bailout. Ministry budgets were slashed by 8.9 percent for next year and public sector wages frozen for a third year as Prime Minister Mariano Rajoy battles to trim one of the euro zone's biggest deficits. "This is a crisis budget aimed at emerging from the crisis ... ...
Full Story | Top | Accused Colorado gunman made threats to psychiatrist Fri,28 Sep 2012 10:56 AM PDT Reuters - DENVER (Reuters) - Accused Colorado gunman James Holmes made threats to a university psychiatrist before a July shooting rampage at a suburban Denver screening of a Batman movie that killed 12 people, according to court documents released on Friday. The University of Colorado psychiatrist reported those unspecified threats to campus police before the shooting at a midnight screening of "The Dark Knight Rises," a court document filed a week after the shooting and unsealed on Friday showed. ...
Full Story | Top | Syria rebels say launch "decisive battle" in Aleppo Thu,27 Sep 2012 01:30 PM PDT Reuters - BEIRUT (Reuters) - Syrian rebels said they had launched a major attack in Aleppo on Thursday at the start of a "decisive battle" to push President Bashar al-Assad's forces out of the country's biggest city. Heavy fighting was reported in around 14 districts by opposition activists and several rebel brigades, though the scale of the fighting could not be confirmed independently. A video posted on YouTube by rebels showed Abdulqadir al-Saleh, the head of the biggest rebel force in Aleppo, the Tawheed Brigade, carrying a walkie talkie and announcing the start of the assault. ...
Full Story | Top | Abbas says to seek upgrade of Palestinian U.N. status Thu,27 Sep 2012 03:43 PM PDT Reuters - UNITED NATIONS (Reuters) - Palestinian President Mahmoud Abbas said on Thursday he would seek to have the Palestinians' U.N. status upgraded to a sovereign country and cautioned that Israeli settlement expansion meant time was running out for a two-state solution. "Despite all the complexities of the prevailing reality and all the frustrations that abound, we say before the international community there is still a chance - maybe the last - to save the two-state solution and to salvage peace," Abbas told the U.N. General Assembly. ...
Full Story | Top | U.S. temporarily reduces staff in Libyan embassy Thu,27 Sep 2012 03:24 PM PDT Reuters - NEW YORK (Reuters) - The United States is temporarily withdrawing more staff from its embassy in Libya's capital for security reasons, but hopes to send them back early next week, the State Department said on Thursday. "This is a temporary further drawdown of staff for security reasons. We will review our posture again early next week with the goal of restoring staff as soon as conditions allow," a State Department official said in New York, where Secretary of State Hillary Clinton is attending the U.N. General Assembly. U.S. ...
Full Story | Top | Terrorists killed U.S. ambassador to Libya: Panetta Thu,27 Sep 2012 01:26 PM PDT Reuters - WASHINGTON (Reuters) - Terrorists killed the U.S. ambassador to Libya, but an ongoing investigation into the attack will have to determine which group was involved and whether it had links to al Qaeda, Defense Secretary Leon Panetta said on Thursday. The assault on the U.S. Consulate in Benghazi September 11 that killed Ambassador Christopher Stevens "was a terrorist attack," Panetta told a news conference at the Pentagon. "A group of terrorists obviously conducted that attack on the consulate and against our individuals. ...
Full Story | Top | Weak orders point to sharp slowdown in manufacturing Thu,27 Sep 2012 11:29 AM PDT Reuters - WASHINGTON (Reuters) - Orders for long-lasting U.S. manufactured goods fell sharply in August, suggesting the main engine of the economic recovery was stalling even as a report showing a drop in new claims for jobless aid offered a hopeful sign on the labor market. While weak demand for aircraft and automobiles accounted for much of the drop in orders last month, the Commerce Department report on Thursday underscored the damage being inflicted by the uncertainty over U.S. fiscal policy, Europe's debt troubles and a slowdown in China. ...
Full Story | Top | California man linked to anti-Islam film in custody for hearing Thu,27 Sep 2012 04:13 PM PDT Reuters - LOS ANGELES (Reuters) - A California man linked to an anti-Islam film that has stoked violent protests across the Muslim world was in custody and appeared at a preliminary bail hearing in Los Angeles on Thursday linked to a bank fraud conviction, court officials said. Nakoula Basseley Nakoula, 55, has been under investigation by probation officials looking into whether he violated the terms of his 2011 release from prison on a bank fraud conviction while making the film. ...
Full Story | Top | Referees return to relief of fans, players and owners Thu,27 Sep 2012 12:02 PM PDT Reuters - (Reuters) - To the relief of fans, players and owners, the National Football League's (NFL) regular referees will return to work on Thursday after a deal was struck to end a damaging months-long lockout of unionized game officials. The storm of criticism following a botched call that handed the Seattle Seahawks a victory at the expense of the Green Bay Packers on Monday added urgency to talks between the league and NFL Referees Association (NFLRA) and a new eight-year deal was reached just before midnight on Wednesday. ...
Full Story | Top | Netanyahu draws "red line" on Iran's nuclear program Thu,27 Sep 2012 04:39 PM PDT Reuters - UNITED NATIONS (Reuters) - Israeli Prime Minister Benjamin Netanyahu drew his "red line" for Iran's nuclear program on Thursday despite a U.S. refusal to set an ultimatum, saying Tehran will be on the brink of a nuclear weapon in less than a year. By citing a time frame in an address to the U.N. General Assembly, Netanyahu - who has clashed with President Barack Obama over the urgency of military action against Iran - appeared to suggest no Israeli attack was imminent before the November 6 U.S. presidential election. ...
Full Story | Top | Britain's Hague meets Ecuador's top diplomat in U.S. on Assange Thu,27 Sep 2012 09:32 AM PDT Reuters - UNITED NATIONS (Reuters) - British Foreign Minister William Hague sought on Thursday to allay his Ecuadorean counterpart's concerns about the fate of WikiLeaks founder Julian Assange, saying Britain's extradition law has "extensive human rights safeguards." Assange has been holed up in the Ecuadorean Embassy in London since June to avoid extradition to Sweden to face rape and sexual assault allegations. His lawyers and Ecuador's government fear that could lead to extradition to the United States, where he could face charges stemming from WikiLeaks' publication of thousands of U.S. ...
Full Story | Top | U.S., Gulf countries agree to strengthen trade ties Thu,27 Sep 2012 08:52 AM PDT Reuters - WASHINGTON (Reuters) - The United States on Thursday said it has signed a framework agreement with Saudi Arabia and other members of the Gulf Cooperation Council to explore ways to boost trade and investment with the oil-rich region. The GCC also includes Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates. Total two-way trade between the United States and the GCC totaled almost $100 billion last year, with the U.S. running about a $24 billion trade deficit. ... Full Story | Top | Spain's crisis budget aims at spending cuts not tax rises Thu,27 Sep 2012 01:49 PM PDT Reuters - MADRID (Reuters) - Spain announced a crisis budget for 2013 based mostly on spending cuts on Thursday in what many see as an effort to pre-empt the likely conditions of an international bailout. Ministry budgets were slashed by 8.9 percent for next year and public sector wages frozen for a third year as Prime Minister Mariano Rajoy battles to trim one of the euro zone's biggest deficits. "This is a crisis budget aimed at emerging from the crisis ... ... Full Story | Top | Euro zone economic outlook darkens with fall in confidence Thu,27 Sep 2012 04:22 AM PDT Reuters - BRUSSELS (Reuters) - The outlook for Europe's economy darkened on Thursday with euro zone business confidence falling to a three-year low and a range of economic indicators across the continent pointing towards recession. Shrinking lending and rising unemployment in Germany, until now a mainstay for growth in the euro zone, added to the gloom, with economists saying there was now no hope of growth for the region in the third quarter of the year. "It is bad. ...
Full Story | Top | China official says spat with Japan derails free trade talks Thu,27 Sep 2012 09:17 AM PDT Reuters - BEIJING (Reuters) - A festering territorial dispute between China and Japan has derailed talks for a free trade zone involving the two countries and South Korea, an adviser to China's central bank said on Thursday. Sino-Japanese ties are at their lowest in decades amid a row over a series of islands in the East China Sea, waters believed to be rich in natural gas deposits, with neither side backing down on its claim of sovereignty. Violent protests broke out across China last week after the Japanese government bought two of the islands, known as the Diaoyu in Chinese and the Senkaku in Japan. ...
Full Story | Top | In Virginia, Romney blames Obama for potential defense cuts Thu,27 Sep 2012 02:29 PM PDT Reuters - SPRINGFIELD, Virginia (Reuters) - U.S. Republican presidential candidate Mitt Romney, lagging behind in polls, squared off against rival President Barack Obama on Thursday over potential defense cuts that could kick in early next year. Speaking in the suburbs of Washington which are home to thousands of defense jobs, Romney blamed Obama for the proposed $1.2 trillion that is set to be cut from Pentagon spending as part of a deal Obama made with Congress in the summer of 2011. ...
Full Story | Top | Protests threaten Georgian leader's grip on power Thu,27 Sep 2012 07:33 AM PDT Reuters - TBILISI (Reuters) - Nana Dumbadze was all set to vote for Georgian President Mikheil Saakashvili's party in an election next week. That is, until she saw television footage of prisoners being raped. The 37-year-old teacher was so shocked that she has decided to switch allegiance from the leader of the Rose Revolution that swept out the ex-Soviet old guard in 2003 to an opposition bloc, Georgian Dream, led by billionaire Bidzina Ivanishvili. ...
Full Story | Top | NFL referees agree deal with league to end lockout Thu,27 Sep 2012 01:01 AM PDT Reuters - (Reuters) - The National Football League (NFL) reached an agreement to end a labor dispute with its regular game officials on Wednesday, ending three weeks of questionable calls that had threatened the integrity of the sport. The eight-year deal with the NFL Referees Association (NFLRA) will allow locked-out officials to return to action for this week's games after replacements had struggled to act as cover for them in the early stages of the 2012 season. ...
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