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| Old Virginia town famed for ham uneasy about Chinese bid Saturday, Jun 01, 2013 12:50 PM PDT  By Gary Robertson SMITHFIELD, Virginia (Reuters) - Painted pig statues grace the picturesque brick sidewalks of this small Virginia river town of 8,000, and its slogan, "Hams, History and Hospitality," probably tells visitors all they need to know about Smithfield and its relationship with Smithfield Foods, the world's largest hog producer. Earlier this week, Smithfield Foods received a $4.7 billion buyout offer from a Chinese food company. News that an agreement had been reached and was awaiting U.S. ... Full Story | Top |
| Mexico's Aeromexico and union avert strike, delay key decision Saturday, Jun 01, 2013 11:17 AM PDT  By Alexandra Alper and Miguel Gutierrez MEXICO CITY (Reuters) - Mexico's biggest airline, Aeromexico, and its unionized workers forged a last-minute accord early on Saturday to avoid a strike that could have ground some 300 flights and cost 150 million pesos a day, but delayed a decision on a crucial sticking point. The union known as ASSA, which represents about 1,300 Aeromexico flight attendants, had threatened a midnight strike if it did not get the 5 percent salary hike and 3 percent boost in benefits it sought. ... Full Story | Top |
| Convicted murderer Sloot eyes Peru marriage for 'love,' says lawyer Saturday, Jun 01, 2013 10:58 AM PDT  LIMA (Reuters) - Jailed murderer Joran van der Sloot plans to wed his Peruvian girlfriend for love, not to avoid extradition to the United States in connection with the disappearance of an Alabama teenager, his lawyer said on Saturday. Van der Sloot, a 25-year-old Dutch citizen, is serving 28 years in prison for killing Peruvian business student Stephany Flores, 21, in 2010 after meeting her playing poker in a Lima casino. When his term ends, he is also slated to be sent to the United States to face charges of extortion stemming from the unsolved disappearance of U.S. ... Full Story | Top |
| Death toll rises to nine from Oklahoma tornadoes Saturday, Jun 01, 2013 10:21 AM PDT  By Heide Brandes OKLAHOMA CITY (Reuters) - Nine people were killed in tornadoes that swept through central Oklahoma on Friday, part of a storm system that caused widespread flooding in Oklahoma City and its suburbs, the state's chief medical examiner said on Saturday. The dead included two children and seven adults, said Amy Elliott, a spokeswoman for the medical examiner's office. The death toll earlier had been reported as five. The tornadoes struck just 11 days after a twister ranked as EF5, the most powerful ranking, tore through the Oklahoma City suburb of Moore and killed 24 people. ... Full Story | Top |
| CA-BUSINESS Summary Saturday, Jun 01, 2013 08:49 AM PDT Soft data, commodity prices take TSX to one-week low TORONTO (Reuters) - Canada's main stock index retreated sharply 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. ... Full Story | Top |
| ISS recommends vote for SoftBank's Sprint bid Saturday, Jun 01, 2013 08:48 AM PDT  (Reuters) - Proxy advisory firm Institutional Shareholder Services said that Sprint Nextel shareholders should vote for SoftBank Corp's proposed $20.1 billion purchase of the No. 3 U.S. mobile provider, potentially dealing a blow to a $25.5 billion rival bid from Dish Network . In its May 31 analysis, ISS said it had not yet developed a view, from a valuation perspective, on whether the offer from Dish is superior to the SoftBank deal for Sprint shareholders, given the preliminary nature of the Dish offer, and because Dish has not yet made its offer directly through a tender. ... Full Story | Top |
| Frankfurt 'Blockupy' protesters clash with police for second day Saturday, Jun 01, 2013 08:20 AM PDT  By Eva Kuehnen FRANKFURT (Reuters) - German police used pepper spray and batons against anti-capitalist demonstrators from the Blockupy movement on Saturday during a second day of protests against Europe's austerity policies. Around 7,000 protesters joined an initially peaceful march through Frankfurt, Germany's financial capital. Many brandished signs with slogans that read "Make love, not war" and "IMF - get out of Greece". Small groups of masked protesters then hurled stones and smoke bombs at the police who responded with force. Several protesters and police officers were hurt. ... Full Story | Top |
| Two drone strikes kill seven in southern Yemen-local official Saturday, Jun 01, 2013 07:36 AM PDT ADEN (Reuters) - Two drone strikes killed seven suspected al Qaeda militants in southern Yemen on Saturday, a local official said, nine days after U.S. President Barack Obama said he would only use such strikes when a threat was "continuing and imminent". In two separate attacks, militants believed to be linked to al Qaeda killed two senior police officers in the eastern part of the country, a local security official said. Washington views al Qaeda in the Arabian Peninsula (AQAP) as the movement's most dangerous wing after it attempted to launch bomb attacks on international airliners. ... Full Story | Top |
| Under pressure Infosys recalls Narayana Murthy as chairman Saturday, Jun 01, 2013 07:14 AM PDT  By Prashant Mehra and Harichandan Arakali MUMBAI/BANGALORE (Reuters) - India's No. 2 IT services firm Infosys Ltd, grappling with disappointing results and loss of market share, has recalled founder and former chairman N.R. Narayana Murthy to act as executive chairman for five years. He replaces current chairman K.V. Kamath, who will become lead independent director. Current co-chairman S. Gopalakrishnan will become executive vice chairman, while CEO S.D. Shibulal remains in his position, Infosys said. ... Full Story | Top |
| Fed may need to let inflation rise to boost jobs: Kocherlakota Saturday, Jun 01, 2013 07:04 AM PDT  By Can Sezer ISTANBUL (Reuters) - The Federal Reserve may need to let inflation run a little higher than its 2-percent target in order to bring down unemployment faster, a top Fed official said on Saturday. Strictly capping inflation at 2 percent while allowing high unemployment to linger would be an "inappropriate" approach to monetary policy, Minneapolis Federal Reserve Bank President Narayana Kocherlakota suggested in slides prepared for presentation at the Istanbul Center for Economic Research. ... Full Story | Top |
| Rock guitarist May leads London march against badger cull Saturday, Jun 01, 2013 06:52 AM PDT  LONDON (Reuters) - Protesters dressed as badgers and led by Queen guitarist Brian May marched through central London on Saturday demanding that the government scrap a plan to cull badgers, aimed at slowing the spread of a cattle disease. About 5,000 of the nocturnal black-and-white animals are due to be shot by marksmen in the six-week pilot cull, authorized to begin on Saturday in two areas in southwestern England. ... Full Story | Top |
| Saudi and Egypt sign $1.6 billion deal to link power grids Saturday, Jun 01, 2013 06:43 AM PDT RIYADH (Reuters) - Saudi Arabia and Egypt on Saturday signed a 6 billion-riyal agreement to link their electricity grids, a project that will allow power trading between the two countries. Peak-time summer power consumption in Saudi Arabia falls between noon and mid afternoon when air conditioners are most intensively used, while in Egypt peak time is after sunset. Linking the two will allow Saudi Arabia to export power to Egypt. ... Full Story | Top |
| Bilfinger eyes takeovers in Asia, North America in expansion Saturday, Jun 01, 2013 05:24 AM PDT  FRANKFURT (Reuters) - German construction and industrial services group Bilfinger SE is eyeing an acquisition in Asia or North America to reduce its dependence on the European market, its chief financial officer said. "It would certainly be good for us to once again make a larger strategically significant takeover as we've done at the end of 2009, when we bought Austrian MCE with an enterprise value of 250-300 million euros ($324-389 million)," Joachim Mueller told Germany's Boersen-Zeitung in an interview published on Saturday. ... Full Story | Top |
| DirecTV, two others bid over $1 billion for Hulu: source Saturday, Jun 01, 2013 05:23 AM PDT  By Ronald Grover and Liana B. Baker (Reuters) - Satellite operator DirecTV and two other bidders have offered more than $1 billion apiece to buy Hulu, a source with knowledge of the bidding process said on Friday, increasing the likelihood that owners News Corp and Walt Disney Co will be able to shed the video streaming service they failed to sell in 2011. Hulu board members, who are being advised by Guggenheim Partners on the auction, fielded at least seven buyout offers last week, the source said. ... Full Story | Top |
| Telecom Italia chief says no decision on Hutchison tie-up on Wednesday: paper Saturday, Jun 01, 2013 05:23 AM PDT  MILAN (Reuters) - The board of Telecom Italia will not make a decision on a possible tie-up with Hutchison Whampoa at its next meeting on Wednesday, the Italian group's chief said in a newspaper interview on Saturday. The group is focused on the planned spin-off of some of its network assets - valued at between 13 and 15 billion euros ($17-$19.4 billion) - into a separate company, which it approved on Thursday, Chairman Franco Bernabe said. "What I say is that consolidation in the sector is desirable and necessary. ... Full Story | Top |
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