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| Exclusive: Majority of Siemens board wants to oust CEO - sources Saturday, Jul 27, 2013 12:45 PM PDT  MUNICH (Reuters) - A majority of Siemens supervisory board members are in favor of voting out Chief Executive Peter Loescher, two people familiar with the matter told Reuters on Saturday. The majority of the 20-member board wants current finance chief Joe Kaeser named as Loescher's successor, the sources said following emergency meetings of board members two days after Siemens abandoned a 2014 profit margin target. Siemens declined to comment on the matter. ... Full Story | Top |
| Quebec town mourns victims of fuel-tanker train disaster Saturday, Jul 27, 2013 12:16 PM PDT  By Christinne Muschi LAC-MEGANTIC, Quebec (Reuters) - Hundreds of mourners filled the streets of Lac-Megantic, Quebec, on Saturday, as the families of the 47 people killed in North America's worst railway disaster in two decades attended a memorial service at a local church. A trumpeter on the street played Ave Maria to the mourners as they gathered outside St Agnes church to watch the service on a massive screen. "It's still difficult," said Chantal Guay, a local resident who was among the crowd outside church. "We're all family in Lac-Megantic, everyone knows each other. ... Full Story | Top |
| Publicis says to make major corporate announcement Saturday, Jul 27, 2013 11:30 AM PDT  PARIS (Reuters) - French advertising group Publicis said it plans to make a "major corporate announcement" on Sunday, after a media report on Friday said it was in merger talks with larger rival Omnicom. A media briefing will be held at 8.00 a.m. ET on Sunday at Publicis headquarters in Paris, the company said in an email on Saturday. Bloomberg reported late on Friday that Publicis and Omnicom were in late-stage merger talks to create what would be the world's largest advertising group. Publicis spokeswoman Peggy Nahmany was not reachable for comment. ... Full Story | Top |
| Al Shabaab claim attack on Turkish mission in Somalia, three dead Saturday, Jul 27, 2013 11:00 AM PDT  By Feisal Omar and Abdi Sheikh MOGADISHU (Reuters) - A car loaded with explosives rammed into an office housing Turkish embassy staff in the Somali capital, killing three people, witnesses and officials said on Saturday, the latest in a series of blasts claimed by Islamist al Shabaab rebels. Al Shabaab was pushed out of bases in Mogadishu by Somali and African forces about two years ago, raising hopes of a return to relative security in a city hit by years of war. ... Full Story | Top |
| Spanish train crash driver leaves hospital, remains in custody Saturday, Jul 27, 2013 10:35 AM PDT  By Tracy Rucinski and Teresa Medrano SANTIAGO DE COMPOSTELA, Spain (Reuters) - The driver of a Spanish train that derailed at high speed killing 78 people was released from hospital on Saturday, but he remained in police custody ahead of an appearance before a judge to answer questions about what went wrong. Francisco Garzon, 52, was treated for a head injury he sustained in Wednesday's crash. He declined to give a statement to police on Friday. "He ... ... Full Story | Top |
| Gold-tiled pool and frescoes: inside Versace's former Miami mansion Saturday, Jul 27, 2013 09:03 AM PDT  By Zachary Fagenson MIAMI BEACH, Florida (Reuters) - Walking into the opulent, Mediterranean-style mansion once owned by innovative fashion designer Gianni Versace is a step back into the early 1990s when energy and money began pouring into the renaissance of Miami's South Beach. Past the ivy-covered gates on Ocean Drive, the 1930s mansion is an expression of the designer's personal style and lust for excess that made it and South Beach a magnet for the creative, artistic and jet set. ... Full Story | Top |
| Diving-FINA agrees sponsorship deal with China's NVC Saturday, Jul 27, 2013 08:27 AM PDT BARCELONA, July 27 (Reuters) - FINA has agreed a four-year sponsorship deal for the diving world series with Chinese firm NVC Lighting that will run from 2014-17, swimming's governing body said on Saturday. Launched in 2007, the world series consisted this year of six meetings in Beijing, Dubai, Edinburgh, Moscow and Guadalajara, Mexico (twice). The amount of prize money available for the series was a good indication of the value of the deal with NVC, FINA executive director Cornel Marculescu told a news conference at the world championships in Barcelona. ... Full Story | Top |
| Axel Springer sheds some French magazines: report Saturday, Jul 27, 2013 08:20 AM PDT BERLIN (Reuters) - Publisher Axel Springer has sold a set of French magazines after disposing of some of Germany's best-known titles earlier this week, magazine New Business reported on Saturday, citing a company spokesman. Axel Springer sold French publisher PGP, which hosts a range of female, cooking and TV magazines, to Reworld Media, based in Paris and Barcelona, New Business said on its website. No-one at Axel Springer could immediately be reached for comment. With print readerships generally in decline, media groups are increasingly moving online for growth. ... Full Story | Top |
| India's Lanco Infra starts process to restructure $1.3 billion debt Saturday, Jul 27, 2013 07:43 AM PDT By Neha Dasgupta MUMBAI (Reuters) - India's Lanco Infratech Ltd has started a process to restructure debts totaling 75 billion rupees ($1.3 billion) after economic weakness impacted the performance of some of its businesses such as power and engineering and construction. If the process is approved by its lenders, Lanco would be the second debt-laden company to go for a major loan restructuring within nine months, after lenders to wind turbine maker Suzlon Energy in November agreed to restructure about 110 billion rupees of its debt. ... Full Story | Top |
| Two missing from wedding party after New York boat accident Saturday, Jul 27, 2013 07:34 AM PDT (Reuters) - Two people were missing on Saturday after a boat with a wedding party aboard struck a barge on the Hudson River near New York City, and four others were taken to a hospital with injuries, local authorities and CNN said. The sheriff's office of Rockland County, New York said the boat hit a construction barge on Friday night below the Tappan Zee bridge, a major transportation link across the Hudson River. ... Full Story | Top |
| U.N. and Syria say chemical arms talks were 'productive' Saturday, Jul 27, 2013 06:51 AM PDT  BEIRUT (Reuters) - The United Nations and Syria said on Saturday that negotiations between Damascus and the U.N. chemical weapons investigator were "productive", but did not say if his team would be allowed to probe allegations that such weapons had been used in the country's civil war. Ake Sellstrom's full team has not been allowed into Syria due to diplomatic wrangling over access. His mission this week was to prepare the ground for an investigation. Sellstrom met Foreign Minister Walid al-Moualem, and a joint U.N. ... Full Story | Top |
| EU, China resolve solar dispute - their biggest trade row by far Saturday, Jul 27, 2013 05:26 AM PDT  By Robin Emmott and Ben Blanchard BRUSSELS/BEIJING (Reuters) - China and the European Union defused their biggest trade dispute by far on Saturday with a deal to regulate Chinese solar panel imports and avoid a wider war in goods from wine to steel. After six weeks of talks, the EU's trade chief and his Chinese counterpart sealed the deal over the telephone, setting a minimum price for panels from China near spot market prices. ... Full Story | Top |
| Russia demands Interpol explain refusal to track down financier Saturday, Jul 27, 2013 04:44 AM PDT MOSCOW (Reuters) - Interpol must explain why it has rejected Moscow's two requests to put British hedge fund head and anti-corruption campaigner William Browder on its search list, the Russian Interior Ministry said on Saturday. The decision is the latest twist in a long-running battle between the government of Russian President Vladimir Putin and Browder, whose investment company Hermitage Capital was once the largest investor in Russia's equity market. Russia has sentenced U.S. ... Full Story | Top |
| F1 moves closer to new Concorde agreement Saturday, Jul 27, 2013 03:22 AM PDT By Alan Baldwin BUDAPEST (Reuters) - Formula One moved closer to a new seven-year commercial agreement, seen as key to any future flotation, on Saturday after rights holders and the governing FIA said they had signed a preliminary document setting out the final steps. "The Formula One Group and the FIA have signed an agreement setting out the framework for implementation of the 2013 Concorde Agreement," a joint statement said at the Hungarian Grand Prix. "This agreement will come into force upon approval by the respective governing bodies with the signatory parties in the coming weeks. ... Full Story | Top |
| Motor racing-F1 moves closer to new Concorde agreement Saturday, Jul 27, 2013 03:22 AM PDT * Formula One and FIA sign framework for commercial agreement * Ecclestone says new seven-year deal can be 'put to bed' By Alan Baldwin BUDAPEST, July 27 (Reuters) - Formula One moved closer to a new seven-year commercial agreement, seen as key to any future flotation, on Saturday after rights holders and the governing FIA said they had signed a preliminary document setting out the final steps. "The Formula One Group and the FIA have signed an agreement setting out the framework for implementation of the 2013 Concorde Agreement," a joint statement said at the Hungarian Grand Prix. ... Full Story | Top |
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