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| North Korea to restart nuclear reactor in weapons bid Tuesday, Apr 02, 2013 11:23 AM PDT By Jack Kim and Ju-min Park SEOUL (Reuters) - North Korea said on Tuesday it would revive a mothballed nuclear reactor able to produce bomb-grade plutonium but stressed it was seeking a deterrent capacity and did not repeat recent threats to attack South Korea and the United States. United Nations Secretary-General Ban Ki-moon said the crisis over North Korea had gone too far and he appealed for dialogue and negotiation to resolve the situation. "Nuclear threats are not a game. ... Full Story | Top |
| N.Y. politicians arrested in mayoral race bribe scheme Tuesday, Apr 02, 2013 12:30 PM PDT By Edith Honan and Jonathan Allen NEW YORK (Reuters) - A high-ranking Democratic New York State senator was arrested on Tuesday and charged with trying to buy a place on the Republican ticket in the city's next mayoral race, an effort that prosecutors said was part of a wide-ranging bribery scandal and reflected pervasive corruption in New York politics. Five other politicians, three Republicans and two Democrats, were also arrested and charged with collectively accepting more than $100,000 in bribes in meetings in parked cars, hotel rooms and state offices, according to court papers. ... Full Story | Top |
| Cyprus finance minister quits after bailout concludes, investigation begins Tuesday, Apr 02, 2013 10:15 AM PDT  By Michele Kambas NICOSIA (Reuters) - Cyprus's finance minister resigned on Tuesday after concluding a 10 billion euro bailout deal with international lenders in which the country slashed its dominant banking sector and hit depositors with losses. Michael Sarris, a lead player in talks with International Monetary Fund and European Union lenders, said he had completed his task but also that he was likely to come under scrutiny in an investigation into the crisis. ... Full Story | Top |
| U.N. approves first-ever global arms trade treaty Tuesday, Apr 02, 2013 11:43 AM PDT  By Louis Charbonneau UNITED NATIONS (Reuters) - The 193-nation U.N. General Assembly overwhelmingly approved on Tuesday the first-ever treaty on global arms trade that seeks to regulate the $70 billion international business in conventional arms ranging from light weapons to battle tanks and warships. There were 154 votes in favor, 3 against and 23 abstentions. Iran, Syria and North Korea last week prevented a treaty-drafting conference at U.N. headquarters from reaching the required consensus to adopt the treaty. ... Full Story | Top |
| SEC says companies can announce key information on social media Tuesday, Apr 02, 2013 12:40 PM PDT  WASHINGTON (Reuters) - The Securities and Exchange Commission said on Tuesday that companies can use Twitter, Facebook and other social media to announce key information as long as they alert investors about which sites they plan to use for such disclosures. The SEC said it would apply its disclosure rules to social media and other emerging forms of communication in the same way that it applies those rules to the websites of public companies. ... Full Story | Top |
| Exclusive - Pfizer, Novartis, Abbott weigh bids for Brazil's Ache - sources Tuesday, Apr 02, 2013 12:56 PM PDT  By Jessica Toonkel and Ben Hirschler NEW YORK/LONDON (Reuters) - At least three of the world's top drugmakers are bidding for Brazil's Ache Laboratorios Farmaceuticos in an auction that may value the group at more than $5 billion, people familiar with the matter said. Pfizer Inc, Novartis AG and Abbott Laboratories are all weighing second-round bids to acquire the company, which boasts a strong position in Brazil's fast-growing pharmaceuticals market, the people said. Bids are due in the second half of April, two of the people said, asking not to be identified because the auction is not ... Full Story | Top |
| Exclusive: Nationwide, Reich & Tang to buy HighMark funds -sources Tuesday, Apr 02, 2013 12:18 PM PDT By Jessica Toonkel NEW YORK (Reuters) - Columbus, Ohio-based Nationwide Financial and New York-based Reich & Tang are buying UnionBanCal Corp's mutual fund business, three sources told Reuters on Tuesday. San Francisco-based UnionBanCal is expected to announce the sale of its HighMark Funds to the two parties in the next few days, said two of the sources, who wished to remain anonymous because they are not permitted to speak to the media. UnionBanCal is selling 19 of its 24 HighMark Funds, to Nationwide Financial, the two sources said. ... Full Story | Top |
| Six European states take aim at Google privacy policy Tuesday, Apr 02, 2013 10:36 AM PDT  By Leila Abboud and Claire Davenport PARIS/BRUSSELS (Reuters) - European regulators moved a step closer to penalizing Google for the way it handles user data after the search engine refused to change its privacy policy. France, Germany, Italy, the Netherlands, Spain and Britain said on Tuesday they began a process to decide if Google's policy introduced in March 2012 broke national laws. Google consolidated 60 privacy policies into one last year and started combining data collected on individual users across its services, such as YouTube, Gmail and social network Google+. ... Full Story | Top |
| Armed men attack Baghdad newspaper offices over story on cleric Tuesday, Apr 02, 2013 11:25 AM PDT  By Ahmed Rasheed BAGHDAD (Reuters) - Men armed with pistols, knives and steel pipes stormed into three Baghdad newspaper offices, beating employees and smashing computers after publication of an article about a Shi'ite Muslim cleric, police and editors said on Tuesday. Monday's attacks illustrated the stubborn influence of hardline Islamist militias in Iraq, where Sunni and Shi'ite insurgents often imposed their own fundamentalist vision on the streets during the height of sectarian war a few years ago. ... Full Story | Top |
| Parties carp as Italy's "wise men" seek end to political crisis Tuesday, Apr 02, 2013 10:15 AM PDT  By Naomi O'Leary and Barry Moody ROME (Reuters) - Italian President Giorgio Napolitano expressed despair on Tuesday at fierce criticism of his latest plan to end a post-election deadlock that has raised fears of months of instability in the euro zone's third largest economy. Two groups of "wise men" appointed by Napolitano to try to forge a policy compromise between squabbling parties to end the impasse since the February 24-25 election started work on Tuesday. Napolitano said they would report back in 8-10 days. ... Full Story | Top |
| Analysis: Big Pharma down, not out, after Indian patent blow Tuesday, Apr 02, 2013 12:52 PM PDT  By Ben Hirschler and Kaustubh Kulkarni LONDON/MUMBAI (Reuters) - Stung by a landmark patent defeat, Western drugmakers will be wary about launching new products in India, but they cannot afford to quit a country tipped to be the world's eighth largest market for medicines by 2016. Makers of patented drugs will in future have to get more creative about doing business in India, including striking deals with local firms to sell cheaper versions of their drugs, industry experts believe. ... Full Story | Top |
| South Africa's Zuma rejects criticism of Central African mission Tuesday, Apr 02, 2013 07:32 AM PDT  PRETORIA (Reuters) - South African President Jacob Zuma on Tuesday defended his decision to send troops to Central African Republic, saying 13 soldiers killed by rebels there had died fighting for Pretoria's foreign policy, not his party's business interests. The South African force was involved in a nine-hour firefight with thousands of rebels who poured into Central African Republic's (CAR) capital Bangui last month and seized control of the country, which has rich deposits of gold, diamonds and uranium. ... Full Story | Top |
| Insight: Pope to review Vatican bureaucracy, scandal-ridden bank Tuesday, Apr 02, 2013 06:48 AM PDT  By Philip Pullella VATICAN CITY (Reuters) - Pope Francis, who has said he wants the Catholic Church to be a model of austerity and honesty, could restructure or even close the Vatican's scandal-ridden bank as part of a broad review of its troubled bureaucracy, Vatican sources say. Francis, who inherited a Church mired in scandals over priests' sexual abuse of children and the leak of confidential documents alleging corruption and infighting in the Vatican's central administration, is mulling his options as he sets the tone for a reformed and humbler Holy See. ... Full Story | Top |
| Euro zone jobless rate steady at 12.0 percent Tuesday, Apr 02, 2013 04:42 AM PDT  BRUSSELS (Reuters) - The euro zone jobless rate was stable at 12.0 percent in February, the European Union statistics office Eurostat said on Tuesday, which could add pressure for an interest rate cut by the European Central Bank. The February number was in line with expectations of economists polled by Reuters, and remained unchanged from January's figure, which Eurostat revised up to 12.0 percent. Data from the bloc of 17 countries using the euro showed another 33,000 people out of work in February, almost 1.8 million more than in the same time last year. Unemployment of under 25s rose to ... Full Story | Top |
| Factory orders rise, boosted by aircraft Tuesday, Apr 02, 2013 07:20 AM PDT  WASHINGTON (Reuters) - New orders for factory goods rose in February but a gauge of planned business spending slipped, suggesting factory activity continued to expand at a modest pace. The Commerce Department on Tuesday said orders for manufactured goods climbed 3.0 percent. Economists polled by Reuters had forecast orders advancing 2.9 percent. Factory orders were boosted by the aircraft industry, which is prone to sharp swings. Civilian aircraft orders surged 95.1 percent. U.S. manufacturer Boeing had previously reported orders in February for 179 aircraft, up from two a month earlier. ... Full Story | Top |
| Insight: Inside Laiki - Countdown to catastrophe Tuesday, Apr 02, 2013 07:44 AM PDT  By Laura Noonan NICOSIA (Reuters) - On the evening of the last Wednesday in March, the directors of Laiki bank, the second largest in Cyprus, gathered in their sixth floor board room for the last time. With the portraits of chairmen past staring down at them, they all resigned, something that had become inevitable earlier in the week when each director received a letter from the Central Bank of Cyprus telling them a special administrator had been appointed to run their bank and the board was suspended. ... Full Story | Top |
| Sorry Apple gets respect in China after tabloid trial Tuesday, Apr 02, 2013 02:52 AM PDT  By Melanie Lee SHANGHAI (Reuters) - With its rare apology, Apple Inc went from pariah to praiseworthy in the eyes of China's state-controlled media, a lesson for other foreign firms not to underestimate the speed and power of the government press. After coming under near-daily media assault for the past two weeks and facing the threat of penalties from two Chinese government bureaus, Apple apologized to Chinese consumers on Monday for poor communication over its warranty policy and said it will change the terms for some of its iPhones sold in China. ... Full Story | Top |
| European manufacturing ebbs further in March Tuesday, Apr 02, 2013 04:42 AM PDT  By Andy Bruce LONDON (Reuters) - Manufacturing across Europe's major economies endured another month of mostly deep decline in March, dragging down even former bright spots, surveys showed on Tuesday. The slump among British manufacturers eased slightly, but overall purchasing managers indexes (PMIs) made gloomy reading. Factories in Germany and Ireland, the relative stars of February's PMIs, fell back into decline last month. Everywhere else, the industrial rot extended. ... Full Story | Top |
| Analysis: BoJ's Kuroda tested by divided board Tuesday, Apr 02, 2013 03:37 AM PDT  By Leika Kihara TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda is struggling to build a consensus ahead of his first central bank board meeting this week, risking disappointing markets that expect hefty bond purchases and a radical shift in its policymaking framework. Conversations with sources since last week have thrown up the possibility that Kuroda may not be able to sway a board divided on how much the BOJ should ramp up bond buying and how to convince markets it will not monetize public debt. ... Full Story | Top |
| Slovenia backs Croatia's EU entry after bank dispute set aside Tuesday, Apr 02, 2013 06:03 AM PDT  LJUBLJANA (Reuters) - Slovenia ratified Croatia's European Union accession bid on Tuesday after the two ex-Yugoslav republics agreed last month to set aside a 20-year old dispute over a shuttered bank that had blocked Zagreb's entry path. Croatia concluded EU accession talks in 2011 but needs all 27 EU members to ratify its entry before it can join the bloc on July 1. With neighboring Slovenia's parliament voting unanimously in favor, 23 member states have done that so far. ... Full Story | Top |
| ANA to put pilots through Dreamliner resumption training: sources Tuesday, Apr 02, 2013 01:06 AM PDT  By Yoko Kubota and Maki Shiraki TOKYO (Reuters) - All Nippon Airways, the biggest customer for Boeing Co's grounded 787 Dreamliner, will put its pilots through training to resume flights in June, sources told Reuters, after Boeing completed more than half of its tests to get its new battery system certified. The Japanese carrier, known as ANA, is also likely to use the Dreamliner initially for cargo flights once the new battery system is installed, to reassure the public about safety before restarting passenger flights, one of the sources said. ... Full Story | Top |
| Glencore pushes back Xstrata deal due to China probe Tuesday, Apr 02, 2013 12:09 AM PDT  LONDON (Reuters) - Glencore said on Tuesday it had again extended the date by which it expects to close its merger with Xstrata, due to the ongoing investigation into the deal in China. Glencore has been waiting for several months for China, the biggest buyer of the materials it trades and mines, to give the go-ahead before it can complete its $35 billion acquisition of miner Xstrata, the largest deal in the sector to date. ... Full Story | Top |
| AstraZeneca suffers fresh drug patent setback in U.S. Tuesday, Apr 02, 2013 02:50 AM PDT  LONDON (Reuters) - AstraZeneca has suffered a fresh patent setback with a U.S. court decision that a patent protecting its Pulmicort Repsules asthma treatment is invalid, clearing the way for a generic copy from Actavis. The ruling comes as AstraZeneca is already facing a big fall in sales due to patent expiries on other medicines, prompting a $2.3 billion restructuring plan and further job losses announced by new CEO Pascal Soriot last month. AstraZeneca said on Tuesday it strongly disagreed with the court's decision and was considering next steps, including lodging an appeal. ... Full Story | Top |
| Indian court lifts ban on Italian envoy leaving country Tuesday, Apr 02, 2013 02:18 AM PDT  By Annie Banerji NEW DELHI (Reuters) - India's Supreme Court lifted on Tuesday a three-week order banning Italy's ambassador from leaving the country after Italy sent two marines back to India to face trial over the deaths of two Indian fishermen. The court had earlier banned the ambassador, Daniele Mancini, from leaving after Italy announced it would not send the accused marines back after a home visit. But the Italian government changed its mind and sent the two back on March 22. "It's good news," Diljeet Titus, a lawyer representing the Italian marines, said of the court's decision. ... Full Story | Top |
| Like employment, demand for office space improves Tuesday, Apr 02, 2013 02:20 AM PDT  By Ilaina Jonas NEW YORK (Reuters) - The office vacancy rate fell only slightly during the first quarter, as a lack of significant job growth continued to impede demand for space, according to a quarterly report released on Tuesday. At the same time, U.S. office construction during the first quarter reached a 14-year low as developers remain spooked by soft demand and meager rent growth, according to real estate research firm Reis Inc. Persistent lackluster U.S. job growth was behind the 0.1 percentage point U.S. office vacancy rate decline. ... Full Story | Top |
| Fire at Islamic school kills 13 boys in Myanmar Tuesday, Apr 02, 2013 03:46 AM PDT  By Aung Hla Tun and Min Zayar Oo YANGON (Reuters) - A fire caused by faulty electrical equipment killed 13 boys at an Islamic school in Myanmar on Tuesday, the fire service said, although some Muslims voiced concern since it followed a wave of anti-Muslim violence in the Buddhist-majority country. The boys suffocated after the fire broke out in a dormitory of the school in the central, multi-ethnic Botataung district of the former capital of Yangon at about 2:40 a.m. (2010 GMT on Monday). ... Full Story | Top |
| Nasdaq to buy eSpeed platform for $750 million Monday, Apr 01, 2013 08:15 PM PDT  By John McCrank (Reuters) - Nasdaq OMX Group Inc agreed to buy electronic Treasuries-trading platform eSpeed from BGC Partners Inc for $750 million in cash, providing the exchange operator an entry into one of the world's largest and most liquid cash markets. The deal gives Nasdaq more exposure to fixed income markets, fitting into the company's strategy of expanding in asset classes beyond stock trading, where volumes have been depressed for years. More than $500 billion in U.S. Treasuries change hands daily. The acquisition helps to diversify Nasdaq's U.S. ... Full Story | Top |
| Apple apologizes to Chinese consumers, revamps service Monday, Apr 01, 2013 07:02 PM PDT  By Terril Yue Jones and Poornima Gupta BEIJING/SAN FRANCISCO (Reuters) - Apple Inc Chief Executive Tim Cook apologized to Chinese consumers on Monday and altered iPhone warranty policies in its No. 2 market after more than two weeks of condemnation in the state-run media of its after-sales service. From China Central Television to the People's Daily newspaper, government-controlled media outlets bashed the world's largest technology corporation for its "arrogance," protesting among other things that its current one-year service warranty was far shorter than in other markets. ... Full Story | Top |
| Court says city of Stockton, California may proceed with bankruptcy Monday, Apr 01, 2013 06:44 PM PDT  By Jonathan Weber SACRAMENTO, California (Reuters) - A federal judge on Monday approved the city of Stockton's petition for bankruptcy in a case that sets the stage for a lengthy battle between bondholders and the California pension system. In a case being studied by other cash-strapped American cities including Detroit, U.S. Bankruptcy Court Judge Christopher Klein's decision was a setback for bondholders and insurers who had resisted the California city's bankruptcy filing. Stockton is the largest U.S. city ever to file for bankruptcy. ... Full Story | Top |
| Colorado prosecutors seek death penalty for accused cinema gunman Monday, Apr 01, 2013 03:17 PM PDT  By Keith Coffman CENTENNIAL, Colo. (Reuters) - Colorado prosecutors will seek the death penalty for the man charged with killing 12 moviegoers during a showing of the Batman film "The Dark Knight Rises" last year. District Attorney George Brauchler's formal call for the death penalty at a hearing on Monday came after his rejection last week of a defense suggestion that James Holmes would be willing to plead guilty in exchange for a life prison term without parole. ... Full Story | Top |
| Judge questions fairness of Citigroup $590 million settlement Monday, Apr 01, 2013 04:28 PM PDT  By Jonathan Stempel (Reuters) - A Manhattan federal judge on Monday signaled he will not rubber-stamp Citigroup Inc's proposed $590 million settlement of a shareholder lawsuit accusing it of hiding tens of billions of dollars of toxic mortgage assets. U.S. District Judge Sidney Stein asked lawyers for the bank and its shareholders to address several issues at an April 8 fairness hearing, including requested legal fees and expenses of roughly $100 million, and the absence of payments by former Citigroup executives. Citigroup spokesman Mark Costiglio declined to comment. ... Full Story | Top |
| BP spill claims administrator urges dismissal of lawsuit Monday, Apr 01, 2013 04:23 PM PDT  By Jonathan Stempel (Reuters) - The administrator of BP Plc's settlement with thousands of people and businesses who sued over the 2010 Gulf of Mexico oil spill urged a federal judge on Monday to end the company's lawsuit over how he determines damages claims. BP had last month urged U.S. District Judge Carl Barbier in New Orleans to issue an emergency order to stop court-appointed administrator Patrick Juneau from paying out "absurd" amounts based on inflated or fictitious claims. ... Full Story | Top |
| Cooling factory activity hints at slowing economy Monday, Apr 01, 2013 01:31 PM PDT  By Lucia Mutikani WASHINGTON (Reuters) - Factory activity grew at the slowest rate in three months in March, suggesting the economy lost some momentum at the end of the first quarter as the effects of tighter fiscal policy started kicking in. Data so far this year had shown little sign that higher taxes, and the $85 billion in across-the-board government spending cuts that took effect March 1 known as the "sequester," had weighed on economic activity. ... Full Story | Top |
| Obama chooses economic adviser Deese as deputy budget director Monday, Apr 01, 2013 02:24 PM PDT  By Jeff Mason WASHINGTON (Reuters) - President Barack Obama announced on Monday he had chosen White House economic adviser Brian Deese to be deputy director of the Office of Management and Budget, confirming a Reuters report. Deese, now deputy director of the White House's National Economic Council, would join Sylvia Mathews Burwell, a former Clinton administration official who later became president of the Walmart Foundation, whom Obama tapped to be director of OMB. ... Full Story | Top |
| China's anger at North Korea overcomes worry over U.S. stealth flights Monday, Apr 01, 2013 02:02 PM PDT  By Ben Blanchard BEIJING (Reuters) - A show of force by U.S. stealth jets over the Korean Peninsula after talk of war by Pyongyang has caused only minor concern in China, a measure of Beijing's belief that the North is to blame for the tensions and that hostilities are not imminent. The presence of U.S. forces in places like South Korea and Japan has long worried Beijing, feeding its fears that it is being surrounded and "contained" by Washington and its allies, especially following the U.S. strategic pivot to Asia. ... Full Story | Top |
| Sudan begins releasing political prisoners Tuesday, Apr 02, 2013 02:34 AM PDT  KHARTOUM (Reuters) - Sudan freed seven political prisoners on Tuesday, a day after President Omar Hassan al-Bashir ordered the release of all such detainees. The amnesty came after Sudan and South Sudan agreed in March to end hostilities and resume cross-border oil flows after coming close to war a year ago. Khartoum had accused its southern neighbor of supporting rebels trying to topple Bashir. Seven members of an opposition group were released from Kober prison in Khartoum at dawn on Tuesday, witnesses said. ... Full Story | Top |
| Stockton eligible for bankruptcy protection: judge Monday, Apr 01, 2013 02:53 PM PDT By Jonathan Weber SACRAMENTO, California (Reuters) - Stockton, California, is eligible for bankruptcy protection, a federal judge ruled on Monday, turning aside creditors' arguments the city was not truly insolvent when it sought protection and improperly failed to seek pension concessions. U.S. Bankruptcy Court Judge Christopher Klein's ruling permits Stockton to proceed with a Chapter 9 municipal bankruptcy case after it became the largest U.S. city ever to file for bankruptcy. ... Full Story | Top |
| South Korea vows fast response to North; U.S. positions destroyer Monday, Apr 01, 2013 03:24 PM PDT By Jack Kim SEOUL (Reuters) - South Korea's new president vowed on Monday to strike back quickly if North Korea stages any attack, but the United States said it has seen no worrisome mobilization of armed forces by the North Koreans despite their bellicose rhetoric. "If there is any provocation against South Korea and its people, there should be a strong response in initial combat without any political considerations," South Korean President Park Geun-hye told the defense minister and senior officials at a meeting on Monday. ... Full Story | Top |
| Sudan's Bashir orders release of all political prisoners Monday, Apr 01, 2013 01:07 PM PDT  By Khalid Abdelaziz KHARTOUM (Reuters) - Sudan's President Omar Hassan al-Bashir on Monday ordered the release of all political prisoners, a move cautiously welcomed by the opposition in the tightly-controlled African country. The announcement comes after Sudan and South Sudan agreed in March to end hostilities and resume cross-border oil flows after coming close to war a year ago. Khartoum had accused its southern neighbor of supporting rebels trying to topple Bashir. "I announce today my decision to release all political prisoners," Bashir told parliament. ... Full Story | Top |
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