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| LinkedIn boosts security, offering similar technology as Twitter Friday, May 31, 2013 12:58 PM PDT (Reuters) - LinkedIn Corp unveiled technology to improve the security of the social networking site for professionals, about a week after Twitter introduced similar tools following a surge in high-profile attacks on its users. The optional service, known as two-factor authentication, is designed to verify the identity of users as they log in by requiring them to enter numeric codes sent via text message. LinkedIn introduced the service on Friday, about a year after a highly publicized breach that exposed passwords of millions of its users. ... Full Story | Top |
| US-INDUSTRY Summary Friday, May 31, 2013 12:57 PM PDT After news editor boycott, U.S. attorney general loosens rules WASHINGTON (Reuters) - U.S. Attorney General Eric Holder loosened his rules for speaking with media editors on Friday during a second day of meetings with them about his Justice Department's handling of investigations that involve reporters, the editors said. Representatives from Reuters and ABC News met with Holder, the chief U.S. law enforcement officer, and his staff following recent disclosures that federal prosecutors seized records from two other media outlets without advance notice. ... Full Story | Top |
| After news editor boycott, U.S. attorney general loosens rules Friday, May 31, 2013 12:57 PM PDT  By David Ingram WASHINGTON (Reuters) - U.S. Attorney General Eric Holder loosened his rules for speaking with media editors on Friday during a second day of meetings with them about his Justice Department's handling of investigations that involve reporters, the editors said. Representatives from Reuters and ABC News met with Holder, the chief U.S. law enforcement officer, and his staff following recent disclosures that federal prosecutors seized records from two other media outlets without advance notice. ... Full Story | Top |
| U.S. imposes sanctions on Iran's petrochemical industry Friday, May 31, 2013 12:54 PM PDT  By Timothy Gardner WASHINGTON (Reuters) - The United States blacklisted on Friday eight companies in Iran's petrochemical industry, sending a warning to the Islamic Republic's global customers as Washington strives to cut off funds to the country's nuclear program. Petrochemical companies owned or controlled by the Iranian government that are on the Treasury Department list include Bandar Imam Petrochemical Co, Bou Ali Sina Petrochemical Co and Mobin Petrochemical Co. ... Full Story | Top |
| CA-BUSINESS Summary Friday, May 31, 2013 12:47 PM PDT Soft data, commodity prices take TSX to 1-week low TORONTO (Reuters) - Canada's main stock index slipped on Friday as lower commodity prices triggered a slump in shares of natural resource companies and weak economic data out of Europe and the United States dampened investor sentiment. While almost every major sector declined, the index still looked on track for a gain in May, reversing losses in the previous two months. SAC investor Magnitude to pull money from Cohen's fund in second quarter: source NEW YORK (Reuters) - Another outside investor in Steven A. ... Full Story | Top |
| Motor racing-FIA quiz Mercedes and Ferrari over tyre tests Friday, May 31, 2013 12:46 PM PDT LONDON, May 31 (Reuters) - Mercedes and Ferrari have been asked to reply to a disciplinary enquiry into tyre tests they carried out with Pirelli this season, Formula One's governing body said on Friday. The International Automobile Federation (FIA) said in a statement the enquiry was "in pursuance of the FIA Judicial and Disciplinary rules" and followed a stewards' report submitted after last weekend's Monaco Grand Prix. A spokesman for the governing body said the two teams had been asked to reply to a list of questions and had not yet been summoned to any formal hearing. ... Full Story | Top |
| Exclusive: Founders seek more time for ENRC bid - sources Friday, May 31, 2013 12:46 PM PDT  By Clara Ferreira-Marques and Megan Davies LONDON/MOSCOW (Reuters) - The three billionaire founders behind miner ENRC have asked its independent board members for a three-week extension to a June 3 buyout bid deadline, seeking more time to iron out technical details, sources with knowledge of the matter said. ... Full Story | Top |
| SAC investor Magnitude to pull money from Cohen's fund in second quarter: source Friday, May 31, 2013 12:41 PM PDT  NEW YORK (Reuters) - Another outside investor in Steven A. Cohen's SAC Capital Advisors will ask to redeem money from his hedge fund in the second quarter. Fund of hedge funds firm Magnitude Capital began redeeming money from SAC in the first quarter and will submit another withdrawal notice for the second quarter, according to a person with knowledge of the investment. The redemption process for Magnitude will be completed by the end of the year, according to that person and another person familiar with the firm's investment with SAC. ... Full Story | Top |
| Wall Street down in late selloff but still set for strong May Friday, May 31, 2013 12:16 PM PDT  By Angela Moon NEW YORK (Reuters) - Stocks fell in late afternoon on Friday, setting major indexes on course for a weekly decline, but the S&P 500 was headed for its seventh straight month of gains, the longest winning streak since 2009. After fluctuating between modest losses and gains for most of the day, the selloff came as investors adjusted their portfolios at month's end. ... Full Story | Top |
| U.S. Medicare outlook improves as healthcare costs ease Friday, May 31, 2013 12:04 PM PDT By David Lawder and Margaret Chadbourn WASHINGTON (Reuters) - Slower growth in U.S. healthcare costs improved the budget outlook for the Medicare program for the elderly from last year, but the fortunes of the Social Security pension program have not changed despite a better economy, trustees of the programs said on Friday. The trustees repeated warnings to Congress to pass reforms that will enable the programs to meet all of their long-term obligations, but their report adds to recent evidence of an easing in U.S. budget pressures, and could help encourage a sense of complacency in ... Full Story | Top |
| CBS acquires full ownership of TV Guide online and mobile units Friday, May 31, 2013 12:03 PM PDT (Reuters) - CBS Corp said on Friday it acquired full ownership of TV Guide's online and mobile apps divisions, buying out the 50 percent share held by Lions Gate Entertainment Corp. CBS now owns TV Guide Digital, which includes the TVGuide.com website and TV Guide Mobile properties, the company said in a statement. CBS and Lions Gate share ownership of TV Guide's cable network, known as TVGN. TV Guide.com attracts 16.5 million visitors each month, and its mobile apps have been downloaded more than 9 million times, CBS said. ... Full Story | Top |
| Obama pushes to hold down student loan interest rates Friday, May 31, 2013 11:48 AM PDT  By Elvina Nawaguna WASHINGTON (Reuters) - President Barack Obama on Friday pushed his plan to tie federal student loan interest rates to the market, and criticized a Republican plan passed by the House of Representatives that he said would cost borrowers more. The mounting burden of student loan debt, now pegged at more than $1 trillion, with an average borrower owing $27,000, is seen as a drag on the economy and a barrier to people getting educations needed for better jobs. Currently students pay the same fixed rate for federal student loans, set by the government at 3. ... Full Story | Top |
| China Inc's Smithfield bid expected to pass Washington test Friday, May 31, 2013 11:47 AM PDT  By Michael Erman, Olivia Oran and Greg Roumeliotis (Reuters) - Washington may still be digesting news of China Inc's latest bold move into America with the nearly $5 billion takeover of Smithfield Foods Inc , but early indications are the deal will not inflame enough nationalistic opposition to kill it, and success could pave the way for more Chinese purchases. Shuanghui International Holdings' agreement to buy Smithfield would be the largest ever acquisition of a U.S. company by a Chinese one. The bid - an effort to feed a growing Chinese appetite for U.S. ... Full Story | Top |
| Financier Hands' EMI lawsuit vs. Citigroup revived Friday, May 31, 2013 11:42 AM PDT  By Jonathan Stempel (Reuters) - A U.S. appeals court has revived British financier Guy Hands' lawsuit accusing Citigroup Inc of defrauding him into overpaying for music company EMI Group Ltd, a disastrous purchase that reflected the risk of buying debt-laden companies during the buyout bubble. Ordering a new trial, the 2nd U.S. Circuit Court of Appeals in Manhattan threw out a November 2010 jury verdict against Hands' private equity firm, Terra Firma Capital Partners, over its 4 billion pound purchase of EMI in 2007 - now US$6.1 billion. The court said a new trial was needed because U.S. ... Full Story | Top |
| Louis Vuitton owner faces maximum fine in luxury row Friday, May 31, 2013 11:36 AM PDT  By Astrid Wendlandt and Pascale Denis PARIS (Reuters) - A battle between French luxury handbag makers spilled out into the public eye on Friday with market regulators seeking the maximum fine for Louis Vuitton owner LVMH for failing to disclose moves to build a stake in rival Hermes . The row centers around deals, first disclosed in late 2010, by LVMH owner and France's wealthiest man Bernard Arnault that have left the firm with a roughly one fifth stake in its biggest rival, the producer of the iconic Kelly and Birkin handbags. ... Full Story | Top |
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