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| U.S. to send missile defenses to Guam over North Korea threat Thursday, Apr 04, 2013 07:12 AM PDT  By Jack Kim and Phil Stewart SEOUL/WASHINGTON (Reuters) - The United States said it would soon send a missile defense system to Guam to defend it from North Korea, as the U.S. military adjusts to what Defense Secretary Chuck Hagel called a "real and clear danger" from Pyongyang. Hours later, South Korea's Yonhap news agency said North Korea had moved what appeared to be a mid-range Musudan missile to its east coast. It was not clear if the North planned to fire the rocket or was just putting it on display as a show of force, one South Korean government source was quoted as saying. ... Full Story | Top |
| Corzine's "negligent conduct" led to MF Global collapse: trustee Thursday, Apr 04, 2013 11:12 AM PDT  By Tom Hals (Reuters) - The "negligent conduct" of Jon Corzine and other officers of the MF Global Holdings Ltd brokerage contributed to the firm's dramatic collapse in 2011, according to a report by the bankruptcy trustee. The report by former FBI director Louis Freeh said the failure of MF Global's officers contributed to losses of as much as $2.1 billion and adds to the growing number of reports and investigations pointing to their liability. ... Full Story | Top |
| Facebook aims to take centerstage on Android phones Thursday, Apr 04, 2013 12:16 PM PDT  By Gerry Shih MENLO PARK, California (Reuters) - Facebook Inc unveiled "Home" software on Thursday to place the world's social network front and center on Android smartphones, a move that may divert users from Google Inc services and steal some of its rival's momentum in the fast-growing mobile arena. Its new family of apps will let users display mobile versions of their newsfeed and messages prominently on the home screens of a wide range of devices based on Google's Android operating system, CEO Mark Zuckerberg told reporters. ... Full Story | Top |
| U.S. slaps more New York politicians with corruption charges Thursday, Apr 04, 2013 12:53 PM PDT  By Edith Honan and Bernard Vaughan NEW YORK (Reuters) - New York State Assemblyman Eric Stevenson was charged with corruption by prosecutors on Thursday, and another assemblyman was forced to resign, in the second federal graft case brought against New York politicians this week. Federal prosecutors have accused Stevenson of taking more than $22,000 in bribes in exchange for official acts, which included drafting and sponsoring legislation that would have effectively granted a monopoly to a network of adult day-care centers operated by four businessmen. ... Full Story | Top |
| ECB "ready to act" to help languishing economy Thursday, Apr 04, 2013 10:03 AM PDT  By Sakari Suoninen and Eva Kuehnen FRANKFURT (Reuters) - European Central Bank President Mario Draghi opened the door on Thursday to an interest rate cut as soon as next month, saying his bank stands "ready to act" to boost the recession-hit euro zone economy. Speaking at news conference after the ECB held rates at a record low 0.75 percent, the highest level among the world's major central banks, Draghi said discussion at the monthly meeting had been extensive and the consensus was to hold fire. ... Full Story | Top |
| Numbness gives way to anger in Cyprus over bailout Thursday, Apr 04, 2013 12:30 PM PDT  By Michele Kambas and Karolina Tagaris NICOSIA (Reuters) - Public shock in Cyprus about the tough terms of an international bailout is turning into anger as millions of euros remain locked in the country's banks. Cypriots were stunned by last month's collapse of its second-biggest lender, Popular Bank, and a decision to slap losses on large deposits at the Bank of Cyprus in return for financial aid from the European Union and IMF. ... Full Story | Top |
| Fed's Evans edges closer to fellow dove's rate-rise plan Thursday, Apr 04, 2013 11:47 AM PDT  By Jonathan Spicer DAYTON, Ohio (Reuters) - A second Federal Reserve official has suggested that U.S. interest rates may have to remain near zero until the unemployment rate falls as low as 5.5 percent, lower than the 6.5 percent threshold the U.S. central bank has in mind. Charles Evans, head of the Chicago Fed and an influential dove at the central bank, said on Thursday rates could stay at rock bottom until joblessness falls to 5.5 percent from the current lofty 7.7 percent, as long as inflation expectations remain lower than the Fed's 2-percent goal. ... Full Story | Top |
| BOJ to pump $1.4 trillion into economy in unprecedented stimulus Thursday, Apr 04, 2013 12:32 PM PDT  By Leika Kihara and Stanley White TOKYO (Reuters) - The Bank of Japan unleashed the world's most intense burst of monetary stimulus on Thursday, promising to inject about $1.4 trillion into the economy in less than two years, a radical gamble that sent the yen reeling and bond yields to record lows. New Governor Haruhiko Kuroda committed the BOJ to open-ended asset buying and said the monetary base would nearly double to 270 trillion yen ($2.9 trillion) by the end of 2014, a dose of shock therapy officials hope will end two decades of stagnation. ... Full Story | Top |
| Jobless claims at four-month high, cast shadow over jobs market Thursday, Apr 04, 2013 09:14 AM PDT  By Lucia Mutikani WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits hit a four-month high last week, the latest suggestion the labor market recovery lost some momentum in March. Initial claims for state unemployment benefits increased 28,000 to a seasonally adjusted 385,000, the highest level since November, the Labor Department said on Thursday. ... Full Story | Top |
| Exclusive: UBS was mystery lender for Thai group's Ping An buy from HSBC - sources Thursday, Apr 04, 2013 11:07 AM PDT  By Michael Flaherty, Elzio Barreto and Denny Thomas HONG KONG (Reuters) - The mystery lender behind a Thai billionaire's $9.4 billion purchase of a stake in China's No.2 insurer was UBS, people with direct knowledge of the matter told Reuters, revealing how the bank stepped in at the last minute to offer a complex financing package known only to a few involved. The Swiss bank's financial backing for China's largest ever foreign stock purchase explains how a Thai conglomerate scraped together $7.4 billion in cash for the deal's final payment, after its main lender backed out at the 11th hour. ... Full Story | Top |
| China readies to fight new bird flu; Japan, Hong Kong on guard Thursday, Apr 04, 2013 09:17 AM PDT By Ben Blanchard BEIJING (Reuters) - The death toll from a new strain of bird flu rose to five in China on Thursday as Beijing said it was mobilizing resources nationwide to combat the virus, Japan and Hong Kong stepped up vigilance and Vietnam banned imports of Chinese poultry. The H7N9 bird flu strain does not appear to be transmitted from human to human but authorities in Hong Kong raised a preliminary alert and said they were taking precautions at the airport. ... Full Story | Top |
| Connecticut governor signs strict gun law after Newtown shooting Thursday, Apr 04, 2013 10:37 AM PDT  By Mary Ellen Clark MERIDEN, Connecticut (Reuters) - Connecticut Governor Dannel Malloy on Thursday signed a tough new gun law that restricts sales of the sort of high-capacity ammunition clips that a gunman used to massacre 26 people in minutes in December in an attack at a school in the state. The law also requires background checks for all gun purchases, expands the number of guns covered by the states' assault-weapons ban and establishes a $15 million fund to help schools improve security infrastructure. ... Full Story | Top |
| Iran's Jalili vows stronger defense of nuclear policy Thursday, Apr 04, 2013 07:57 AM PDT  By Yeganeh Torbati and Justyna Pawlak ALMATY (Reuters) - Iran's chief nuclear negotiator Saeed Jalili sounded a defiant note ahead of a new round of talks with world powers in Kazakhstan, saying on Thursday they had to recognize Iran's right to enrich uranium to see any breakthrough. The six powers - United States, Russia, China, France, Britain and Germany - will meet Iranian negotiators on Friday and Saturday in the Kazakh city of Almaty, hoping Tehran agrees to scale back its most sensitive atomic work that they suspect is aimed at achieving a nuclear weapons capability. ... Full Story | Top |
| France drags on euro zone economy, Britain brighter Thursday, Apr 04, 2013 04:35 AM PDT  By Andy Bruce LONDON (Reuters) - A huge drop in French business activity meant the euro zone's recession dragged on in March but British services firms provided a rare glimpse of economic sunshine, posting their best month since August. Business surveys on Thursday showed the decline in French services businesses is now at its steepest since the nadir of the 2008-09 recession, outstripping even the downturns of struggling Spain and Italy. In Germany, the region's biggest and most resilient economy, growth slowed to a near-stall last month. ... Full Story | Top |
| Italian mayor challenges Bersani, wants pact or vote Thursday, Apr 04, 2013 12:29 PM PDT  By Naomi O'Leary ROME (Reuters) - Florence mayor Matteo Renzi launched a clear challenge to Italian center-left leader Pier Luigi Bersani on Thursday, saying he must either agree a coalition with former premier Silvio Berlusconi or demand a new election. Bersani won a majority in the lower house but not the Senate in February's elections, leaving the center-left unable to govern alone. Last week he failed to forge a viable majority in parliament when his overtures to the anti-establishment 5-Star Movement were rebuffed. ... Full Story | Top |
| Insight: Syrian government guerrilla fighters being sent to Iran for training Thursday, Apr 04, 2013 07:52 AM PDT  HOMS PROVINCE, Syria (Reuters) - The Syrian government is sending members of its irregular militias for guerrilla combat training at a secret base in Iran, in a move to bolster its armed forces drained by two years of fighting and defections, fighters and activists said. The discreet program has been described as an open secret in some areas loyal to President Bashar al-Assad, who is trying to crush a revolt against his family's four-decade hold on power. ... Full Story | Top |
| Bank of England keeps policy steady despite new remit Thursday, Apr 04, 2013 04:56 AM PDT  By David Milliken LONDON (Reuters) - The Bank of England decided not to pump fresh money into its stagnant economy on Thursday, despite a new remit that gives it more leeway to disregard above-target inflation. Further stimulus may still be on its way, however, after finance minister George Osborne tweaked the central bank's mandate two weeks ago. He gave the bank stronger backing to ignore the series of one-off factors that have kept inflation above target for most of the time since the financial crisis. ... Full Story | Top |
| Palestinian funerals draw thousands in tense West Bank Thursday, Apr 04, 2013 11:53 AM PDT  By Noah Browning ANABTA, West Bank (Reuters) - Thousands of mourners turned out on Thursday for the funerals of three Palestinians, including two teenagers killed by Israeli army gunfire in some of the worst violence in the occupied West Bank in years. The upsurge in unrest was triggered on Tuesday by the death of Maysara Abu Hamdeya, a 64-year-old prisoner serving a life term in an Israeli jail and suffering from cancer. ... Full Story | Top |
| Delta sues Ex-Im Bank over loan guarantees for foreign airlines Wednesday, Apr 03, 2013 09:44 PM PDT  (Reuters) - Delta Air Lines Inc has sued the Export-Import Bank of the United States over loan guarantees given to support purchases of Boeing Co's widebody planes by certain foreign airlines, according to a court filing. Delta said that Ex-Im bank's subsidies to foreign airlines, including Emirates Airlines, Etihad Airways and Korean Air Co Ltd, to help them buy Boeing planes would cause adverse economic effects on airlines and their employees. Delta said in the filing that the bank did not properly analyze the adverse economic impact and has requested the district court in Washington D.C. ... Full Story | Top |
| German regulators probe Deutsche Bank accounts: sources Thursday, Apr 04, 2013 02:46 AM PDT  FRANKFURT (Reuters) - Germany's Bundesbank and financial watchdog Bafin are conducting an in-depth probe of Deutsche Bank AG's accounts over allegations that it failed to correctly value a derivatives portfolio, sources familiar with the investigation said. Two of the sources said on Thursday that Germany's central bank was reacting to accusations that Deutsche Bank had incorrectly valued credit derivatives from 2007 through 2010, allowing it to hide as much as $12 billion in losses. "This is a routine investigation. ... Full Story | Top |
| Obama cutting own pay in solidarity with federal workers Wednesday, Apr 03, 2013 08:34 PM PDT  WASHINGTON (Reuters) - President Barack Obama plans to give back 5 percent of his pay in a gesture of solidarity with government workers who must take unpaid leave as a result of deep spending cuts that went into effect last month. The president's self-imposed pay cut would be effective from March 1, when the spending cuts began, and would last through the end of December, an administration official said on Wednesday. Obama earns $400,000 a year. ... Full Story | Top |
| Hagel tells military to brace for further belt-tightening Wednesday, Apr 03, 2013 08:02 PM PDT  By David Alexander and Phil Stewart WASHINGTON (Reuters) - Defense Secretary Chuck Hagel warned the military to brace for more belt-tightening on Wednesday as he conducts a review that could cut the number of generals, pare back the civilian workforce and stem the spiraling cost of new weapons. Hagel, in his first major policy speech as Pentagon chief, told students at the National Defense University that the United States could not allow its current budget crisis to force it to retreat from the world. But he underscored the limits of U.S. military power. ... Full Story | Top |
| One person killed in shooting at Fort Knox Army post Wednesday, Apr 03, 2013 08:27 PM PDT By Bob Driehaus CINCINNATI (Reuters) - A man who worked as a civilian Army employee was shot to death on Wednesday in a parking lot at the Fort Knox Army base in Kentucky in an incident that prompted a security lockdown there, officials said. Authorities said the shooting was "not a random act" and the shooter remained at large on Wednesday night. The shooting, which came less than two weeks after a U.S. Marine shot dead two colleagues at a Virginia base, occurred on Wednesday afternoon outside the U.S. Army Human Resources Command headquarters, the Army said in a statement. ... Full Story | Top |
| Regional leaders refuse to recognize Central African Republic coup leader Wednesday, Apr 03, 2013 04:27 PM PDT  By Madjiasra Nako N'DJAMENA (Reuters) - African heads of state on Wednesday refused to recognize rebel leader Michel Djotodia's self-appointment as president of Central African Republic, calling instead for the creation of a new transitional body to guide the country to elections. The decision, taken at a summit of leaders from the central African region, further isolates Djotodia, who led thousands of insurgents into the former French colony's crumbling riverside capital Bangui on March 24, ousting President Francois Bozize. ... Full Story | Top |
| New U.N. arms treaty faces rough road in U.S. Senate Wednesday, Apr 03, 2013 02:48 PM PDT  By Patricia Zengerle WASHINGTON (Reuters) - The new global arms trade treaty was overwhelmingly approved by the United Nations, with U.S. backing, but it was clear on Wednesday it faces a tough fight for ratification by U.S. senators who contend it could affect Americans' gun rights. The 193-nation U.N. General Assembly approved the pact by a vote of 154-3 on Tuesday, with 23 abstentions, many by major weapons exporters. Washington was one of the 'yes' votes, but to go into effect for the United States it must win at least 67 votes - a two-thirds majority - in the 100-member Senate. ... Full Story | Top |
| Palestinian youth shot to death as West Bank seethes Wednesday, Apr 03, 2013 04:04 PM PDT  By Ali Sawafta and Allyn Fisher-Ilan RAMALLAH/JERUSALEM (Reuters) - Israeli troops shot dead a Palestinian youth in the West Bank, a Palestinian medic said, as confrontations went into a third day after the death of a prisoner held by Israel provoked street clashes and rocket fire. Medical staff said troops brought the body of 17-year-old Amer Nassar from the village of Anabta to a hospital near Tulkarm, in the northern part of the occupied West Bank. ... Full Story | Top |
| Cyprus judges to look into crisis, president Wednesday, Apr 03, 2013 01:11 PM PDT  By Michele Kambas NICOSIA (Reuters) - Supreme Court judges will launch an investigation on Thursday into almost a decade of financial profligacy which brought Cyprus to its knees last month, with a mandate from the head of state to give his own affairs special attention. ... Full Story | Top |
| U.S. to send missile defenses to Guam over "clear" North Korea danger Wednesday, Apr 03, 2013 03:55 PM PDT By Phil Stewart and David Alexander WASHINGTON (Reuters) - The United States said on Wednesday it will soon send a missile defense system to Guam to defend it from North Korea, as the U.S. military adjusts to what U.S. Defense Secretary Chuck Hagel described as a "real and clear danger" from Pyongyang. The announcement came just hours before North Korea's army said it had ratified an attack against the United States, potentially involving a nuclear strike, the latest in a series of provocations testing President Barack Obama's policy of "strategic patience" with Pyongyang. ... Full Story | Top |
| U.S. to send missile defenses to Guam over North Korea threat Wednesday, Apr 03, 2013 03:43 PM PDT  By Phil Stewart and Jack Kim WASHINGTON/SEOUL (Reuters) - The United States said on Wednesday it would soon send a missile defense system to Guam to defend it from North Korea, as the U.S. military adjusts to what Defense Secretary Chuck Hagel has called a "real and clear danger" from Pyongyang. At the same time, North Korea repeated its threat to launch a nuclear attack on the United States. Pyongyang said it had ratified a potential strike because of U.S. military deployments around the Korean peninsula that it claimed were a prelude to a possible nuclear attack on the North. ... Full Story | Top |
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