| | |
| Economy barely expands in fourth quarter, brighter days ahead Thursday, Feb 28, 2013 09:26 AM PST  WASHINGTON (Reuters) - The economy barely grew in the fourth quarter as the military slashed spending and companies restocked their shelves with less gusto, but growth already appears to be picking up. The Commerce Department said on Thursday the economy expanded at a 0.1 percent annual rate in the last three months of 2012, scratching an earlier estimate that had showed a small decline. The growth rate was the slowest since the first quarter of 2011 and fell short of the 0.5 percent economists had expected. ... Full Story | Top |
| Benedict's reign ends with a promise to obey next pope Thursday, Feb 28, 2013 11:21 AM PST VATICAN CITY (Reuters) - Pope Benedict ended his difficult reign on Thursday pledging unconditional obedience to whoever succeeds him to guide the Roman Catholic Church at one of the most crisis-ridden periods in its 2,000-year history. The papacy became vacant at 8 p.m. (1900 GMT/2PM ET), marking the first time in six centuries a pope has resigned instead of ruling for life. ... Full Story | Top |
| Bradley Manning pleads guilty to misusing classified data in WikiLeaks case Thursday, Feb 28, 2013 10:03 AM PST  FORT MEADE, Maryland (Reuters) - The U.S. Army private accused of providing diplomatic cables and other secret documents to the WikiLeaks website pleaded guilty on Thursday to misusing classified material, but denied the most serious charge in the case, aiding the enemy. Private First Class Bradley Manning, 25, entered the pleas prior to his court martial, which is set to begin on June 3, in a case that centers on the biggest leak of government secrets in U.S. history. "I believe that if the general public ... had access to the information ... ... Full Story | Top |
| West to send Syrian rebels aid, not arms Thursday, Feb 28, 2013 11:43 AM PST  ROME (Reuters) - Western powers pledged aid for Syrian rebels on Thursday but stopped short of offering them weapons, disappointing opponents of President Bashar al-Assad clamoring for more arms. More than 70,000 Syrians have been killed in a fierce conflict that began with peaceful anti-Assad protests nearly two years ago. Washington has given $385 million in humanitarian aid for Syria but U.S. President Barack Obama has so far refused to give arms, arguing it is difficult to prevent them from falling into the hands of militants who could use them on Western targets. ... Full Story | Top |
| Cyprus president says committed to stability, swift bailout Thursday, Feb 28, 2013 11:44 AM PST  NICOSIA (Reuters) - Cyprus's new President Nicos Anastasiades vowed on Thursday to work for a swift conclusion of a bailout for the cash-starved island, ruling out debt or deposit "haircuts" for the Mediterranean nation threatened with a financial meltdown. Economic turmoil engulfing Cyprus, one of the euro zone's smallest economies, could test the European Union's mettle in a crisis threatening to spill beyond the tiny island's shores and unravel nascent recovery in the bloc. ... Full Story | Top |
| Analysis: Election result may condemn Italy to weak, short government Thursday, Feb 28, 2013 10:08 AM PST  ROME (Reuters) - Italy's electoral earthquake seems to have condemned the country to the thing it needs least - a short-term government and new elections in as little as six months or a year. A huge protest vote in the Feb 24-25 election produced the worst possible result for Italy's stagnant and recession-hit economy - a parliament in which no single group has a workable majority and populist leader Beppe Grillo has the whip hand. Global markets plunged immediately after the election before calming on Wednesday. ... Full Story | Top |
| Canada minister doesn't expect U.S. to veto Keystone pipeline Thursday, Feb 28, 2013 11:29 AM PST  OTTAWA (Reuters) - Canadian Natural Resources Minister Joe Oliver said on Thursday he does not expect the United States to reject TransCanada Corp's proposed Keystone XL pipeline from the Alberta oil sands to Texas. U.S. officials say they expect the government to make a final decision on the northern leg of the $5.3 billion pipeline by the middle of the year. Green groups strongly oppose Keystone XL, which they say will boost global warming, and want President Barack Obama to block the project. "I remain cautiously optimistic," Oliver told reporters. ... Full Story | Top |
| Regulators move forward on foreclosure relief Thursday, Feb 28, 2013 09:14 AM PST  WASHINGTON (Reuters) - Borrowers whose homes were foreclosed on during the U.S. housing crisis will start receiving payments in April from a $3.6 billion fund under a previously announced settlement with 13 banks, regulators said on Thursday. Certain borrowers whose mortgages were serviced by one of the 13 banks can expect to receive between a few hundred dollars and $125,000, under settlements designed to end case-by-case reviews of past foreclosures. ... Full Story | Top |
| Bangladesh Islamist's death sentence sparks deadly riots Thursday, Feb 28, 2013 08:34 AM PST  DHAKA (Reuters) - A Bangladeshi Islamist party leader was sentenced to death on Thursday over abuses carried out during the country's independence war, triggering riots that killed at least 30 people. Delwar Hossain Sayedee, 73, vice-president of the Jamaat-e-Islami party, was found guilty by Bangladesh's war crimes tribunal of mass killing, rape, arson, looting and forcing minority Hindus to convert to Islam during the 1971 war of separation from Pakistan, lawyers and tribunal officials said. ... Full Story | Top |
| Italian president says forming new government cannot be rushed Thursday, Feb 28, 2013 11:24 AM PST  BERLIN (Reuters) - Italian President Giorgio Napolitano said on Thursday that the formation of a new government could not be rushed because of what he said were unfounded fears that Italy was a threat to the stability of Europe. Napolitano told reporters during a visit to Berlin that the Italian constitution requires 20 days between elections - which were held on Sunday and Monday - and the new parliament sitting for the first time. "I don't see right now how it could be accelerated. ... Full Story | Top |
| Journalist Woodward tangles with White House over spending cuts Thursday, Feb 28, 2013 06:35 AM PST  WASHINGTON (Reuters) - A prominent Washington journalist said in interviews on Wednesday a senior White House official warned him he would "regret" publishing a story challenging the White House's account of how the idea for automatic spending cuts originated. Bob Woodward said in interviews with Politico and CNN that when he informed the White House he was writing a story critical of the White House's handling of a debate over the origin of the cuts, known as sequestration, the official reacted angrily. ... Full Story | Top |
| Analysis: Italy election punches hole in ECB's euro defenses Thursday, Feb 28, 2013 06:07 AM PST  FRANKFURT (Reuters) - A dramatic anti-austerity vote leaves Italy lying outside the fortress the European Central Bank constructed around the euro zone last year and vulnerable to a market attack. This week's election leaves slim prospects for a durable, reform-minded government in Rome and exposes a flaw in the bond-buying defense plan the ECB put together last September - a weakness that could see the euro zone crisis roar back to life. ... Full Story | Top |
| Analysis: Cuts unlikely to deliver promised budget savings Thursday, Feb 28, 2013 04:03 AM PST  WASHINGTON (Reuters) - On paper, there's one thing to like about the ugly spending cuts due to kick in on Friday: $85 billion in budget savings at a time when Washington continues to bleed red ink. In reality, the so-called "sequester" is likely to yield less than half that much in the short term. In part, that has to do with the complex way the government handles its money. But it also reflects the probability that the spending cuts will hurt the economy, which in turn will lower tax revenue and drive up the costs of social safety-net programs like unemployment insurance. ... Full Story | Top |
| Pope Benedict quits Vatican with promise to obey successor Thursday, Feb 28, 2013 09:20 AM PST VATICAN CITY (Reuters) - Pope Benedict left the Vatican on Thursday after pledging unconditional obedience to whoever succeeds him to guide the Roman Catholic Church at one of the most crisis-ridden periods in its 2,000-year history. The first pope in six centuries to step down, Benedict flew off in a white Italian air force helicopter for the papal summer villa south of the capital where he took up temporary residence. ... Full Story | Top |
| Obama to name Edith Ramirez head of Federal Trade Commission Thursday, Feb 28, 2013 09:58 AM PST  WASHINGTON (Reuters) - President Barack Obama intends to name Edith Ramirez, once a colleague of his at the Harvard Law Review, as chairwoman of the Federal Trade Commission, a White House official said on Thursday. Ramirez, a Democrat who worked for Obama during the 2008 presidential race, was a Los Angeles lawyer specializing in business litigation and intellectual property before joining the commission. She has been a commissioner since 2010. ... Full Story | Top |
| Insight: Grillo's rookies ready to take Italian parliament by storm Thursday, Feb 28, 2013 05:41 AM PST  ROME (Reuters) - Meet the Grillini. They are the 162 very ordinary people who are now regarded with trepidation by financial markets and world leaders after this week's Italian election failed to produce a government. The Grillini - literally "little Grillos" - are the lawmakers elected for the anti-establishment 5-Star Movement of comic Beppe Grillo, which upset all forecasts by emerging as the largest party in Italy. ... Full Story | Top |
| New top diplomats in China signal focus on U.S., Japan, North Korea Thursday, Feb 28, 2013 12:13 AM PST  BEIJING (Reuters) - China is signaling that it is keen to get on top of troubled ties with the United States, Japan and North Korea with the likely appointment of two officials with deep experience of these countries to its top diplomatic posts. Current Foreign Minister Yang Jiechi, ambassador to Washington from 2001-2005 and a polished English speaker, is tipped to be promoted to state councilor with responsibility for foreign policy, three independent sources said. China has only five such councilors and the post is senior to that of foreign minister. ... Full Story | Top |
| Jobless claims hint at improving labor market Thursday, Feb 28, 2013 05:36 AM PST  WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell more than expected last week, suggesting some traction in the labor market recovery. Initial claims for state unemployment benefits dropped 22,000 to a seasonally adjusted 344,000, the Labor Department said on Thursday. The prior week's claims figure was revised to show 4,000 more applications received than previously reported. Economists polled by Reuters had expected first-time applications to fall to 360,000. ... Full Story | Top |
| China says U.S. routinely hacks Defense Ministry websites Thursday, Feb 28, 2013 05:03 AM PST  BEIJING (Reuters) - Two major Chinese military websites, including that of the Defense Ministry, were subject to about 144,000 hacking attacks a month last year, almost two-thirds of which came from the United States, the ministry said on Thursday. This month a U.S. computer security company said that a secretive Chinese military unit was likely behind a series of hacking attacks mostly targeting the United States, setting off a war of words between Washington and Beijing. China denied the allegations and said it was the victim. ... Full Story | Top |
| Insight: Egypt's army tiptoes through democracy's minefield Thursday, Feb 28, 2013 04:29 AM PST  CAIRO (Reuters) - As cities along the Suez Canal erupted in violence in late January, the leader of Egypt's armed forces feared for the future of the fledgling democracy. General Abdel Fattah Sisi told the elected president, Mohamed Mursi, that the situation was critical, according to Egyptian security sources familiar with the events. "The military leadership advised the president that national security was threatened following the chaos and vandalism that befell the cities of Suez and Port Said," a security source with links to the military told Reuters. ... Full Story | Top |
| Japan government taps Kuroda for BOJ in battle for economic revival Thursday, Feb 28, 2013 03:39 AM PST  TOKYO (Reuters) - Prime Minister Shinzo Abe nominated an advocate of aggressive policy action to head the Bank of Japan, challenging the opposition to back his push for radical action as officials warned that a nascent economic upturn could easily be derailed. By choosing Asian Development Bank President Haruhiko Kuroda to take over at the central bank, Abe is looking to deliver on an election pledge of overhauling monetary policy to revive the economy after nearly two decades of mild deflation and lackluster growth. ... Full Story | Top |
| Thailand agrees to talks with southern Muslim rebels Thursday, Feb 28, 2013 04:43 AM PST  KUALA LUMPUR, Feb 28 (Reuters) - Thailand's government will hold formal peace talks with a major Muslim rebel group for the first time next month, marking a breakthrough in efforts to end a worsening conflict in the country's south that has claimed over 5,000 lives since 2004. Senior Thai officials and members of the Barisan Revolusi Nasional (BRN) group signed the agreement for the talks in the Malaysian capital of Kuala Lumpur. ... Full Story | Top |
| Western governments to discuss military assistance to Syrian rebels: source Thursday, Feb 28, 2013 01:09 AM PST  ROME (Reuters) - Western and Arab officials will meet representatives of the Syrian opposition in Istanbul next Monday to discuss military and humanitarian support for rebels fighting President Bashar al-Assad, a European diplomatic source said on Thursday. "The meeting aims to work directly with opposition structures to increase the level of support," the source said, adding that both civilian and military representatives of the Syrian opposition would attend. ... Full Story | Top |
| White House, Republicans dig in ahead of budget talks Wednesday, Feb 27, 2013 06:02 PM PST  WASHINGTON (Reuters) - Positions hardened on Wednesday between U.S. President Barack Obama and Republican congressional leaders over the budget crisis even as they arranged to hold last-ditch talks to prevent harsh automatic spending cuts beginning this week. Looking resigned to the $85 billion in "sequestration" cuts starting on Friday, government agencies began reducing costs and spelling out to employees how furloughs will work. ... Full Story | Top |
| Senate approves Lew as Treasury chief Thursday, Feb 28, 2013 06:42 AM PST  WASHINGTON (Reuters) - The Senate on Wednesday confirmed Jack Lew as President Barack Obama's new Treasury secretary, putting the former White House chief of staff in the middle of political brawls over the government's budget. Senators backed Lew 71-26, with all 50 Democrats present voting in favor. Lew's most pressing task will be to find a compromise to lessen the economic blow from $85 billion in government spending cuts set to kick in on Friday. But two more deadlines will quickly follow. Funds for most government operations expire on March 27, and the U.S. ... Full Story | Top |
| Senate panel delays CIA nominee Brennan's confirmation vote Wednesday, Feb 27, 2013 04:10 PM PST  WASHINGTON (Reuters) - The Senate intelligence committee on Wednesday postponed until next week a vote on the confirmation of White House aide John Brennan to be CIA director, dashing hopes of Democratic leaders who had hoped to have a vote on Thursday. The committee's Republican vice chairman, Senator Saxby Chambliss of Georgia, said the panel expects to hold the vote on Tuesday. No explanation for the delay was immediately available. ... Full Story | Top |
| Business spending plans gauge hits 13-month high Wednesday, Feb 27, 2013 02:13 PM PST  WASHINGTON (Reuters) - A gauge of planned U.S. business spending recorded its largest increase in more than a year in January, suggesting growing confidence in the durability of the economic recovery. The case for the economy's resilience was further bolstered by another report on Wednesday showing that contracts to buy previously owned homes approached a near three-year high last month. Housing is expected to underpin growth this year. Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, jumped 6. ... Full Story | Top |
| Italy's political crisis deepens, Grillo refuses to support government Wednesday, Feb 27, 2013 01:05 PM PST  ROME (Reuters) - An Italian political crisis that has rattled the euro zone deepened on Wednesday when two party leaders ruled out the most likely options to form a government and avoid a new election. Populist leader Beppe Grillo slammed the door on overtures from center-left boss Pier Luigi Bersani with a stream of insults while Nichi Vendola, Bersani's junior coalition partner, ruled out a government alliance with the center-right. ... Full Story | Top |
| Apple CEO says he feels shareholders' pain, urges long view Wednesday, Feb 27, 2013 12:45 PM PST  CUPERTINO, California (Reuters) - Apple Inc CEO Tim Cook on Wednesday acknowledged widespread disappointment in the company's sagging share price but shared few details about its secretive product pipeline and touched only briefly on a raging debate about how best to reward shareholders. The world's most valuable technology company headed into its annual shareholders' meeting at its headquarters on shakier ground than it has been accustomed to in years, since the iPhone and iPad helped vault the company to premier investment status. ... Full Story | Top |
| Japan government nominates Kuroda, Iwata, Nakaso to BOJ board: lawmaker Wednesday, Feb 27, 2013 08:08 PM PST  TOKYO (Reuters) - The Japanese government has nominated Asian Development Bank President Haruhiko Kuroda to be the next governor of the Bank of Japan, a lawmaker said on Thursday. Kuroda, 68, would replace current BOJ governor Masaaki Shirakawa, who will step down on March 19. The government also nominated academic Kikuo Iwata and BOJ official Hiroshi Nakaso to serve as the central bank's two deputy governors, said Genichiro Sata, a lawmaker from the ruling Liberal Democratic Party. In coming days, the three candidates will give testimony in parliament. ... Full Story | Top |
| America must not "dictate" to world, new defense chief says Wednesday, Feb 27, 2013 12:03 PM PST  WASHINGTON (Reuters) - Decorated Vietnam veteran Chuck Hagel was sworn in as U.S. defense secretary on Wednesday after a bruising Senate confirmation battle, promising to renew old U.S. alliances and forge new ones without attempting to "dictate" to the world. Addressing Pentagon employees shortly after a small, closed-door swearing-in ceremony, Hagel spoke optimistically, if vaguely, about global challenges ahead and the importance of American leadership abroad. "We can't dictate to the world. But we must engage the world. ... Full Story | Top |
| Senate approves Lew as new Treasury chief Wednesday, Feb 27, 2013 03:40 PM PST  WASHINGTON (Reuters) - The U.S. Senate on Wednesday confirmed Jack Lew as President Barack Obama's new Treasury secretary, putting the former White House chief of staff in the middle of a bitter political fight over the government's budget. Senators backed Lew with a 71-26 vote. All of the chamber's 53 Democrats voted for him. Some Republicans had expressed misgivings about Lew's perks from previous employers Citigroup and New York University. ... Full Story | Top |
| White House, Republicans dig in ahead of budget talks Wednesday, Feb 27, 2013 02:55 PM PST  WASHINGTON (Reuters) - Positions hardened on Wednesday between President Barack Obama and Republican congressional leaders over the budget crisis even as they arranged to hold last-ditch talks to prevent harsh automatic spending cuts beginning this week. Looking resigned to the $85-billion in "sequestration" cuts starting on Friday, government agencies began reducing costs and spelling out to employees how furloughs will work. Expectations were low that a White House meeting on Friday between Obama and congressional leaders, including Republican foes, would produce any deal to avoid the cuts. ... Full Story | Top |
| Senate panel delays CIA nominee Brennan's confirmation vote Wednesday, Feb 27, 2013 03:34 PM PST WASHINGTON (Reuters) - The Senate intelligence committee on Wednesday postponed until next week a vote on the confirmation of White House aide John Brennan to be CIA director, dashing hopes of Democratic leaders who had hoped to hold a vote on Thursday. The committee's Republican vice chairman, Senator Saxby Chambliss, said the panel expects to hold the vote on Tuesday. No immediate explanation was available for why the vote was delayed. ... Full Story | Top |
| NATO, European governments, hit by "MiniDuke" cyber attack Wednesday, Feb 27, 2013 12:33 PM PST  SAN FRANCISCO (Reuters) - Hackers targeted dozens of computer systems at government agencies across Europe through a flaw in Adobe Systems Inc's software, security researchers said on Wednesday, while NATO said it too had been attacked. The alliance said its systems had not been compromised, although it was sharing the details of the attack with NATO member states and remained vigilant. Security experts say governments and organizations such as NATO are attacked on a daily basis - although the sophistication varies wildly. ... Full Story | Top |
|
No comments:
Post a Comment