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| Two Swiss trains collide, 35 injured, driver feared dead Monday, Jul 29, 2013 12:57 PM PDT  GRANGES-PRES-MARNAND, Switzerland (Reuters) - Two trains collided head-on in Switzerland on Monday evening, injuring about 35 people, five seriously, police said. The driver of one of the trains was still unaccounted for and thought to be inside the wreckage, at Granges-près-Marnand in the canton of Vaud, police spokesman Jean-Christophe Sauterel said. "These are regional trains. The speeds are a little lower and even if one deeply regrets the likely loss of life of one person as well as five serious injuries, the situation could have been much more catastrophic," Sauterel said. ... Full Story | Top |
| PPI insurance complaints may have peaked - ombudsman Monday, Jul 29, 2013 12:48 PM PDT By Matt Scuffham LONDON (Reuters) - The Financial Ombudsman Service is starting to see a decline in the number of complaints it receives about mis-sold loan insurance but levels remain very high, Chief Financial Ombudsman Natalie Ceeney said. Britain's biggest banks are expected to this week set aside hundreds of millions of pounds more to compensate customers mis-sold the insurance but Ceeney's comments will raise their hopes that the worst is behind them. ... Full Story | Top |
| 'Real Housewives' New Jersey couple facing fraud charges Monday, Jul 29, 2013 12:47 PM PDT (Editor's note: Please be advised that first sentence contains language that may offend some readers.) By Emily Flitter NEW YORK (Reuters) - She was called a "dumb ass" on national television on Sunday, but things got worse for reality TV "Real Housewife" Teresa Guidice on Monday when she and her husband, Giuseppe, were charged with fraud and tax evasion. The two cast members of "The Real Housewives of New Jersey" were indicted in U.S. ... Full Story | Top |
| Philadelphia latest U.S. city to sue banks in Libor scandal Monday, Jul 29, 2013 12:39 PM PDT (Reuters) - The city of Philadelphia is the latest of a series of U.S. municipalities, following Houston a week ago, to sue some of the world's biggest banks for financial losses incurred in the Libor interest-rate rigging scandal. Philadelphia sued nine banks and several subsidiaries on Friday in Pennsylvania Federal Court, seeking punitive and other damages and claiming that the banks' behavior "was nothing short of naked price-fixing. ... Full Story | Top |
| Wall St. dips on caution before Fed debates stimulus policy Monday, Jul 29, 2013 12:38 PM PDT  By Caroline Valetkevitch NEW YORK (Reuters) - Stocks dipped on Monday as investors took a cautious stance before a Federal Reserve meeting this week that could signal when the Fed might begin to alter its stimulus plans. The energy sector led the day's losses, with the S&P energy index down 0.9 percent, while Caterpillar was up 0.9 percent at $82.82 and gave the Dow its biggest boost after announcing a $1 billion accelerated stock repurchase program. ... Full Story | Top |
| Angelina Jolie highest earning U.S. actress: Forbes Monday, Jul 29, 2013 12:37 PM PDT  NEW YORK (Reuters) - Angelina Jolie, who will next be seen on the big screen in the film "Maleficent," is Hollywood's highest paid actress with estimated earnings of $33 million in the last year, according to Forbes. She easily surpassed this year's Best Actress Oscar winner Jennifer Lawrence, who came in second with $26 million, and pushed Kristen Stewart of the "Twilight" series, who topped the list last year, into third place with earnings of $22 million. "Hollywood hasn't shied away from Jolie. ... Full Story | Top |
| Loeb's Third Point opens stake in CF Industries: letter Monday, Jul 29, 2013 12:32 PM PDT NEW YORK (Reuters) - Daniel Loeb's hedge fund Third Point initiated a new position in nitrogen fertilizer manufacturer CF industries during the second quarter, according to a quarterly investor note. "CF currently trades at an unwarranted discount to fertilizer and commodity chemical peers," Loeb said in the letter, dated July 29. "We believe its structural cash flow generation strength is misunderstood and that management should deliver a much larger dividend to its shareholders. ... Full Story | Top |
| SEC fraud case against ex-Goldman trader Tourre in homestretch Monday, Jul 29, 2013 12:25 PM PDT  By Nate Raymond and Katya Wachtel NEW YORK (Reuters) - Testimony ended Monday in the civil fraud case of Fabrice Tourre, with lawyers for former Goldman Sachs trader not calling any witnesses before the U.S. Securities and Exchange Commission's case goes to a Manhattan federal jury. Tourre's lawyers had been expected to call witnesses including hedge fund billionaire John Paulson to testify on his behalf. Instead, his lawyers asked the presiding judge to take the case away from the jury and rule in Tourre's favor, which, as expected, she rejected. ... Full Story | Top |
| 'Glee' star Lea Michele breaks silence after Cory Monteith death Monday, Jul 29, 2013 12:10 PM PDT  LOS ANGELES (Reuters) - Actress Lea Michele, the girlfriend and cast mate of late "Glee" star Cory Monteith, on Monday thanked fans for their support in her first public comments since the actor's death earlier this month. "Thank you all for helping me through this time with your enormous love & support," Michele, 26, posted on Twitter along with a photo of her and Monteith. "Cory will forever be in my heart." Monteith, 31, who had struggled with substance abuse, was found dead in a Vancouver hotel room on July 13 from an apparently accidental overdose of heroin and alcohol. ... Full Story | Top |
| Spain mourns train crash victims in official Mass Monday, Jul 29, 2013 11:58 AM PDT  By Silvio Castellanos SANTIAGO DE COMPOSTELA, Spain (Reuters) - Mourners packed a memorial service on Monday for the 79 people who died in the country's worst rail disaster in decades, as investigators prepared to analyze information from the train's data recording device, or "black box." The driver of the train, 52-year-old Francisco Garzon, has been charged with 79 counts of negligent homicide and released pending trial after a judge determined he was not a flight risk. ... Full Story | Top |
| Exclusive: EU to clear US Airways, American $11 billion merger - sources Monday, Jul 29, 2013 11:43 AM PDT  By Foo Yun Chee BRUSSELS (Reuters) - AMR Corp's American Airlines and US Airways will win EU approval for their $11 billion merger to become the world's largest carrier after agreeing to cede slots on a transatlantic route, three persons familiar with the matter said on Monday. The airlines offered to give up slots at Heathrow and Philadelphia airports earlier this month after the European Commission raised competition concerns over the route. "The deal is set to be approved," one source said. ... Full Story | Top |
| Canada's Hudson's Bay to buy Saks for $2.4 billion Monday, Jul 29, 2013 11:41 AM PDT  By Phil Wahba and Solarina Ho NEW YORK/TORONTO (Reuters) - Richard Baker is doubling down on his attempt to revive big-name department stores with a $2.4 billion bid to buy Saks Inc, bringing the iconic New York retailer under the same roof as Lord & Taylor and Canada's Hudson's Bay. Baker's Hudson's Bay Co is offering $16 per share to buy the retailer, a 30 percent premium over levels in May, right before media reports that Saks was up for sale. The deal is worth $2.9 billion in cash, including the assumption of Saks' debt. ... Full Story | Top |
| Italian bus plunges off viaduct, 38 people killed Monday, Jul 29, 2013 10:58 AM PDT  By Roberto Mignucci MONTEFORTE IRPINO, Italy (Reuters) - Thirty-eight people were killed and at least 18 injured when a bus plunged 25 meters (80 ft) off a viaduct in Italy, in the second major transport disaster in southern Europe in less than a week. Initial reports suggested that the coach was travelling at high speeds and hit four or five cars before crashing over the roadside barriers on a stretch of road near Monteforte Irpino, east of Naples, on Sunday night. There were around 50 people on board, many of them children. ... Full Story | Top |
| Pfizer to split generic, branded drugs units Monday, Jul 29, 2013 10:47 AM PDT By Ransdell Pierson (Reuters) - Pfizer Inc, in what could be the prelude to spinning off its generics drug business, said it plans to separate its commercial operations into two units, mainly for patent-protected brands and a third for generics. Pfizer, the largest U.S. drugmaker, said on Monday the changes will take effect by January in countries that do not require a consultation with labor unions. ... Full Story | Top |
| Merged Publicis-Omnicom may speak with American accent Monday, Jul 29, 2013 10:43 AM PDT  By Christian Plumb and Leila Abboud PARIS (Reuters) - The advertising giant to be formed from the merger of Publicis and Omnicom may resolve any clash between its French and U.S. arms by taking on a more American identity, some industry observers said on Monday. The two companies have portrayed the deal that will create a $35 billion industry leader as a "merger of equals". They have similar market capitalizations and the new group's board will be equally split between representatives of Publicis and Omnicom. ... Full Story | Top |
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