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| Weak job gains hurt economic outlook Friday, Apr 05, 2013 11:19 AM PDT  By Jason Lange WASHINGTON (Reuters) - American employers hired at the weakest pace in nine months in March, a sign that tax hikes that kicked in early this year as part of Washington's austerity drive could be stealing momentum from the economy. The economy added just 88,000 nonfarm jobs last month, the Labor Department said on Friday. That was well below market expectations for a 200,000 increase and lower than even the most pessimistic forecast in a Reuters poll. The jobless rate ticked a tenth of a point lower to 7.6 percent largely due to people dropping out of the work force. "The U.S. ... Full Story | Top |
| North Korea asks embassies to consider moving diplomats out Friday, Apr 05, 2013 09:03 AM PDT By Guy Faulconbridge and Ronald Popeski LONDON/SEOUL (Reuters) - North Korea has asked embassies to consider moving staff out and warned it cannot guarantee the safety of diplomats after April 10, Britain said, amid high tension and a war of words on the Korean peninsula. The requests come on the heels of declarations by the government of the secretive communist state that real conflict is inevitable, because of what it terms "hostile" U.S. troop exercises with South Korea and U.N. sanctions imposed over North Korea's nuclear weapons testing. ... Full Story | Top |
| Obama tries to woo Republicans with cuts in budget Friday, Apr 05, 2013 10:24 AM PDT  By Mark Felsenthal WASHINGTON (Reuters) - President Barack Obama will offer cuts to Social Security and other benefits programs in a budget proposal next week aimed at winning over enough congressional Republicans to pass a broad deal to reduce the deficit. While Obama's previous budgets have largely been ignored in Congress, the White House wants to use this year's proposal, to be released on Wednesday, to move beyond the fiscal fights that have consumed Washington since 2010. ... Full Story | Top |
| U.S. judge strikes age rules for "morning-after" pill Friday, Apr 05, 2013 12:02 PM PDT By Jessica Dye NEW YORK (Reuters) - A federal judge on Friday ordered the Food and Drug Administration to make "morning-after" emergency contraception pills available without a prescription to all girls of reproductive age and criticized the Obama administration for interfering with the process for political purposes. The ruling in a Brooklyn court is the latest step in the years-long legal saga over the pill known as "Plan B," a drug that has also sparked political and religious battles. ... Full Story | Top |
| Boeing completes 787 Dreamliner test flight for battery fix Friday, Apr 05, 2013 12:44 PM PDT  NEW YORK (Reuters) - Boeing completed a test flight on Friday of its 787 Dreamliner jet, part of a regimen of tests aimed at certifying a reworked system to prevent fire or overheating of the plane's lithium-ion batteries. The flight lasted about 1 hour and 50 minutes, landing at 12:28 pm Pacific Time (1928 GMT), according to Boeing. Data from the flight, which had Federal Aviation Administration officials aboard, will be submitted to the FAA, which will decide whether to approve the plane for flight. The 787 was grounded by regulators in January after batteries overheated on two planes. ... Full Story | Top |
| "Green" car maker Fisker fires 75 percent of U.S. workforce Friday, Apr 05, 2013 12:49 PM PDT  By Deepa Seetharaman DETROIT (Reuters) - Fisker Automotive, the struggling, government-backed hybrid sports car maker, said on Friday that it terminated most of its rank-and-file employees, in what sources said was a last-ditch effort to conserve cash and stave off a potential bankruptcy filing. Fisker, which raised $1.2 billion from investors and tapped nearly $200 million in government loans, has "at least" $30 million in cash, according to a source familiar with the company's finances. ... Full Story | Top |
| Iran, big powers appear miles apart at nuclear talks Friday, Apr 05, 2013 11:16 AM PDT  By Yeganeh Torbati and Justyna Pawlak ALMATY (Reuters) - Iran appeared to side-step responding to proposals by world powers to defuse tensions over its nuclear program at talks in Kazakhstan on Friday, diplomats said, and instead came up with its own plan - a measure of the gulf between the two sides. The six powers - the United States, Russia, China, France, Britain and Germany - had sought a concrete response from Iran to their February offer of modest sanctions relief if Tehran stops its most contentious nuclear work. ... Full Story | Top |
| China culls birds as flu deaths mount; airline shares fall Friday, Apr 05, 2013 11:34 AM PDT  By Fayen Wong and Clare Baldwin SHANGHAI/HONG KONG (Reuters) - Chinese authorities slaughtered over 20,000 birds at a poultry market in Shanghai on Friday as the death toll from a new strain of bird flu mounted to six, spreading concern overseas and sparking a sell-off in airline shares in Europe and Hong Kong. The local government in Shanghai said the Huhuai market for live birds had been shut down and 20,536 birds had been culled after authorities detected the H7N9 virus from samples of pigeons in the market. Other live poultry markets in the city will be closed down from Saturday, it said. ... Full Story | Top |
| HP shakeup points to more "shareholder friendly" board Friday, Apr 05, 2013 12:13 PM PDT  (Reuters) - Wall Street's psycho-analysis of Hewlett-Packard's latest board room shuffle has begun. The stepping-down of Hewlett-Packard Co Chairman Ray Lane and appointment of activist investor Ralph Whitworth as his interim replacement has raised hopes for a more "shareholder friendly" board at the flailing PC maker. But investors aren't buying it just yet, and HP shares fell more than 2 percent in morning trading on Friday. ... Full Story | Top |
| Insight: After Cyprus, is Slovenia next euro zone domino? Friday, Apr 05, 2013 06:52 AM PDT  By Marja Novak LJUBLJANA (Reuters) - Successive Slovenian governments have refused to privatize the country's banks, which made disastrous loans to politically connected business interests and now threaten to drag the country center stage in the euro zone debt crisis. A span of unfinished apartment blocks in the Siska complex on the outskirts of Ljubljana is emblematic of the former Yugoslav republic's woes, just as many such ghost neighborhoods in Europe's debt-choked south stand testament to the depth of the broader continent's economic problems. ... Full Story | Top |
| Italy's Berlusconi calls for broad government or early vote Friday, Apr 05, 2013 04:15 AM PDT  ROME (Reuters) - Former Prime Minister Silvio Berlusconi, buoyed by new opinion polls showing a lead for his center-right coalition, said on Friday Italy must return to the polls quickly unless the center left agrees to govern with him. Italy has been gridlocked since an inconclusive February election gave no bloc enough votes to govern, forcing outgoing Prime Minister Mario Monti to stay on as a caretaker until the impasse can be broken. "It's crucial to form a strong and stable government immediately," Berlusconi said in a tweet. ... Full Story | Top |
| "We are broke," U.N. says as Syria refugee funds dry up Friday, Apr 05, 2013 05:02 AM PDT  By Tom Miles GENEVA (Reuters) - The United Nations gave its starkest warning yet on Friday that it would soon run out of cash to cope with the vast influx of Syrian refugees into Jordan and other neighboring countries. "The needs are rising exponentially, and we are broke," Marixie Mercado, spokeswoman for the U.N. Children's Fund UNICEF, told a U.N. news conference in Geneva. The number of people fleeing in the world's worst refugee crisis has repeatedly outrun the U.N.'s expectations. The 1. ... Full Story | Top |
| Pope Francis urges decisive action against sex abuse Friday, Apr 05, 2013 07:30 AM PDT  By Philip Pullella VATICAN CITY (Reuters) - Pope Francis wants the Catholic Church to "act decisively" to root out sexual abuse of children by priests and ensure the perpetrators are punished, the Vatican said on Friday. Francis, in a meeting with the Holy See's doctrinal chief, Archbishop Gerhard Mueller, had declared that combating sexual abuse was important "for the Church and its credibility", a statement said. Francis inherited a Church mired in problems and a major scandal over priestly abuse of children. ... Full Story | Top |
| Exclusive: UBS was mystery lender for Thai group's Ping An deal - sources Friday, Apr 05, 2013 04:00 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, which offered the region's fourth largest bridge loan ever and a complex financing package known to only a few involved, people with knowledge of the matter told Reuters. The Swiss bank's financial backing for the biggest foreign purchase of Chinese stock 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 |
| Analysis: Africa's rise pays out dividends for democracy Friday, Apr 05, 2013 04:36 AM PDT  By Pascal Fletcher JOHANNESBURG (Reuters) - Africa is rising not only on the growth charts of economists. The continent that was a byword for poverty, chaos and bloodshed only a few decades ago, providing a media feast of famines and wars, is slowly but steadily notching up gains on the democracy scorecard too. Last month's generally peaceful Kenyan presidential election - and the Supreme Court process that confirmed Uhuru Kenyatta's narrow win - confounded pundits' predictions that East Africa's biggest economy would tumble back into the same inter-tribal violence which bloodied a 2007 vote. ... Full Story | Top |
| Spain's royal family agrees to open up to scrutiny Friday, Apr 05, 2013 11:53 AM PDT  By Elisabeth O'Leary MADRID (Reuters) - Spain's embattled royal family has agreed to open its affairs to more public scrutiny under a new transparency law intended to restore confidence in a political establishment sapped by corruption and economic crisis. Two days after King Juan Carlos's daughter was charged in an embezzlement case, a palace source told Reuters on Friday that the royal household had accepted, after weeks of talks with the government, that it should be subject to the new freedom-of-information legislation, along with other organs of the state. ... Full Story | Top |
| ECB's Coeure sees euro zone inflation straying off course Friday, Apr 05, 2013 02:08 AM PDT  PARIS (Reuters) - The European Central Bank will monitor euro zone inflation carefully over the next 18 months as it threatens to sink further below the ECB's 2 percent target, Executive Board member Benoit Coeure said on Friday. Euro zone inflation slipped in March for a third straight month to an annual rate of 1.7 percent, compared to the ECB's goal of close to, but not above, 2 percent. ... Full Story | Top |
| Exclusive: Disney to begin layoffs in studio, consumer products - sources Thursday, Apr 04, 2013 06:58 PM PDT  By Ronald Grover LOS ANGELES (Reuters) - Walt Disney Co expects to begin layoffs at its studio and consumer product divisions within the next two weeks, according to two people with knowledge of the matter, in the latest cost-reduction step to emerge from a company-wide review. The studio job cuts will center on the marketing and home video units and include a small number from the animation wing, said the sources, who spoke on condition of anonymity because the plans had not been made public. It is unknown how many jobs will be lost at either division. ... Full Story | Top |
| U.S. slaps more New York politicians with corruption charges Thursday, Apr 04, 2013 02:31 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. "So here we go again. ... Full Story | Top |
| Facebook aims to take centerstage on Android phones Thursday, Apr 04, 2013 04:45 PM PDT  By Gerry Shih MENLO PARK, California (Reuters) - Facebook Inc on Thursday unveiled its most ambitious attempt yet to enter mobile computing without a phone of its own, introducing a new app that replaces the home screen on some Android smartphones. Called "Home," the new software lets users comprehensively modify Android, the popular mobile operating system developed by Google, to prominently display their Facebook newsfeed and messages on the home screens of a wide range of devices - while hiding other apps. ... Full Story | Top |
| Boeing may do 787 certification flight on Friday: source Thursday, Apr 04, 2013 03:23 PM PDT  WASHINGTON (Reuters) - Boeing Co may carry out a certification test flight of its grounded 787 Dreamliner with a revamped battery system on Friday, a key step toward returning the state-of-the-art aircraft to flight, a U.S. government official said on Thursday. The official, who was not authorized to speak on the record, said the certification test could be carried out on Friday if all remaining ground-based tests were completed on Thursday. "They're not quite there yet," said the official, adding that it might not be clear until early Friday if the certification flight could take place. ... Full Story | Top |
| North Korea hides two missiles on east coast: report Friday, Apr 05, 2013 12:50 AM PDT  SEOUL (Reuters) - North Korea has placed two of its intermediate range missiles on mobile launchers and hidden them on the east coast of the country, South Korea's Yonhap news agency reported on Friday, citing intelligence sources in South Korea. The report could not be confirmed, but may be intended to demonstrate a threat by the North to either Japan or to U.S. bases on Guam. The North has threatened to attack bases on Guam if the United States launches a strike on it. ... Full Story | Top |
| North Korea lacks means for nuclear strike on U.S., experts say Thursday, Apr 04, 2013 04:40 PM PDT  By Mark Hosenball and Phil Stewart WASHINGTON (Reuters) - North Korea's explicit threats this week to strike the United States with nuclear weapons are rhetorical bluster, as the isolated nation does not yet have the means to make good on them, Western officials and security experts say. Pyongyang has slowly and steadily improved its missile capabilities in recent years and U.S. officials say its missiles may be capable of hitting outlying U.S. territories and states, including Guam, Alaska and Hawaii. Some private experts say even this view is alarmist. ... Full Story | Top |
| Corzine slammed in Freeh report on MF Global collapse Thursday, Apr 04, 2013 02:40 PM 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 |
| No agreement on Syria access for U.N. chemical arms inspectors Thursday, Apr 04, 2013 02:18 PM PDT  By Louis Charbonneau UNITED NATIONS (Reuters) - The United Nations and Syria have not yet agreed on how much access a team of chemical weapons inspectors will have to investigate allegations that such arms were used recently in the Syrian conflict, according to a letter to Syria's U.N. envoy. The United Nations said last month it would investigate the Syrian government's allegations that rebels used chemical arms in an attack near the northern city of Aleppo. Western countries also want a probe of two additional rebel claims about the use of such arms. ... Full Story | Top |
| World powers await Iran's reaction to nuclear offer Thursday, Apr 04, 2013 03:13 PM PDT  By Justyna Pawlak and Yeganeh Torbati ALMATY (Reuters) - World powers will urge Iran on Friday to accept their offer to ease some economic sanctions if it stops its most sensitive nuclear work, in talks aimed at easing tensions that threaten to boil over into war. The six powers - the United States, Russia, China, France, Britain and Germany - will meet Iranian negotiators in the Kazakh city of Almaty for the second round of talks this year, aiming to settle a decade-old dispute over Tehran's nuclear work. ... Full Story | Top |
| Exclusive: Deutsche Telekom mulls improved MetroPCS offer - sources Thursday, Apr 04, 2013 02:44 PM PDT  By Sophie Sassard and Philipp Halstrick LONDON/FRANKFURT (Reuters) - Deutsche Telekom AG is looking into improving the terms of a proposed merger of its T-Mobile USA unit with MetroPCS Communications Inc as a last resort to win over shareholders ahead of a vote on the deal next week, two people familiar with Deutsche Telekom's thinking said on Thursday. The board of the Bonn-based company is divided on whether to sweeten the terms of the cash and share deal to secure approval at a MetroPCS shareholder vote on April 12 and is hoping it could still avoid any change, the people said. ... Full Story | Top |
| SAC's Martoma switches lawyers in insider-trading case Thursday, Apr 04, 2013 01:24 PM PDT  By Nate Raymond NEW YORK (Reuters) - Mathew Martoma, a former portfolio manager at hedge fund SAC Capital Management, has hired a new lawyer to defend him in his insider-trading case. Martoma has brought in Richard Strassberg at Goodwin Procter to take over his defense, a spokesman for the law firm confirmed on Thursday. The former fund manager previously was represented by Charles Stillman, a prominent New York white-collar lawyer with Stillman & Friedman. ... Full Story | Top |
| Jobless claims at four-month high, cast shadow over jobs market Thursday, Apr 04, 2013 01:31 PM 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 |
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