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| U.S. judge denies class action status in Deutsche Bank lawsuit Tuesday, Oct 29, 2013 12:33 PM PDT  By Nate Raymond NEW YORK (Reuters) - A U.S. judge on Tuesday refused to allow shareholders to proceed as a group in a lawsuit accusing Deutsche Bank AG of misrepresenting the risks of mortgage-related investments that were central to the financial crisis. The ruling by U.S. District Judge Katherine Forrest in New York effectively ends the class action against the German bank, although shareholders could proceed individually. ... Full Story | Top |
| Rocker Lou Reed of Velvet Underground dies at 71 Tuesday, Oct 29, 2013 12:30 PM PDT  By Jonathan Allen and Daniel Trotta NEW YORK (Reuters) - Lou Reed, the pioneering musician who fronted influential rock band The Velvet Underground in the 1960s and won mainstream acclaim with solo songs "Walk on the Wild Side" and "Perfect Day", died on Sunday aged 71. Reed, whose band fused music and art in collaboration with its early benefactor, pop artist Andy Warhol, died at the Long Island home he shared with his wife, Laurie Anderson, following complications from a liver transplant earlier this year, his literary agent Andrew Wylie said. ... Full Story | Top |
| Time Warner Cable CEO Britt says he has cancer Tuesday, Oct 29, 2013 12:25 PM PDT  By Liana B. Baker (Reuters) - Time Warner Cable Chief Executive Glenn Britt disclosed to employees on Tuesday that he is undergoing treatment for cancer but said he will continue working until his retirement at the end of the year. Britt, who has been CEO since 2001, said in a memo to employees that he beat melanoma five years ago but that the cancer has returned. He said doctors discovered it when they ran tests for a problem he was having with his voice over the summer. ... Full Story | Top |
| U.S. Steel to permanently shut Hamilton works Tuesday, Oct 29, 2013 12:23 PM PDT  TORONTO (Reuters) - United States Steel Corp said on Tuesday it will permanently shut down iron and steelmaking operations at its Hamilton, Ontario mill at the end of this year. Chief Executive Mario Longhi said on a call with analysts and investors that the company will take a non-cash charge of about $225 million in the fourth quarter connected with the closure. (Reporting by Allison Martell; Editing by Janet Guttsman) Full Story | Top |
| NY Post must face bias lawsuit linked to Obama chimp cartoon Tuesday, Oct 29, 2013 12:16 PM PDT  By Jonathan Stempel NEW YORK (Reuters) - The New York Post and its top editor must face a bias lawsuit brought by a woman who said she was fired for complaining about harassment at the newspaper and a political cartoon that some people said likened President Barack Obama to a chimpanzee. In a decision made public on Tuesday, U.S. District Judge Lorna Schofield said Sandra Guzman, a former associate editor, may pursue her case against the Post and Editor-in-Chief Col Allan, though not against the newspaper's parent, News Corp. ... Full Story | Top |
| Hollande says four French hostages kidnapped in Niger freed Tuesday, Oct 29, 2013 12:03 PM PDT By Kader Mazou and John Irish NIAMEY/PARIS (Reuters) - Four French hostages kidnapped by al Qaeda's north African arm three years ago in Niger have been released, President Francois Hollande said on Tuesday. Pierre Legrand, Daniel Larribe, Thierry Dol and Marc Feret were kidnapped by AQIM in September 2010 while working for French nuclear group Areva and a subsidiary of construction group Vinci in Arlit in Niger. The conditions of the release were not immediately clear, but, speaking to French television, Foreign Minister Laurent Fabius denied the government had paid a ransom. ... Full Story | Top |
| Google+ rolls out movie-making features, claims 300 million users Tuesday, Oct 29, 2013 12:03 PM PDT  By Alexei Oreskovic (Reuters) - Google Inc on Tuesday unveiled new technology that creates polished movies, complete with music soundtracks, from collections of home videos and photos that users post on its fledgling Google+ social network. The new features mark Google's latest move to try and differentiate its 2-year-old social network from Facebook, the world's No. 1 online social network with 1.15 billion users. Google said on Tuesday that 300 million users visit the web page of its social network every month, up from 190 million "in stream" users in May. ... Full Story | Top |
| Barrick Gold may raise Pascua-Lama costs once more Tuesday, Oct 29, 2013 12:02 PM PDT  By Allison Martell TORONTO (Reuters) - Barrick Gold Corp will likely raise the cost estimate for its huge Pascua-Lama mine project in South America for the third time in less than two years when the world's top gold producer reports results on Thursday. Much has changed since November, when Toronto-based Barrick pegged the cost of the gold and silver project at $8.5 billion, and markets are anxious to see the company's new capital cost estimate. High in the Andes, on the border between Chile and Argentina, Pascua-Lama is Barrick's biggest and most important growth project. ... Full Story | Top |
| Energy bosses blame politicians for price rises Tuesday, Oct 29, 2013 11:59 AM PDT  By William James and Sarah Young LONDON (Reuters) - The six energy companies that dominate Britain's energy market defended steep price hikes on Tuesday, blaming rising costs and political interference as a panel of lawmakers accused them of abusing their market position at consumers' expense. Lawmakers summoned energy executives after four of Britain's "big six" energy suppliers raised charges for heating homes by more than three times the rate of inflation, stirring a political debate about the cost of living and angering voters on the eve of winter. ... Full Story | Top |
| UBS, Deutsche Bank confirm cooperation in forex probes Tuesday, Oct 29, 2013 11:58 AM PDT  By Katharina Bart ZURICH (Reuters) - UBS and Deutsche Bank confirmed they were cooperating with regulators probing alleged rigging in the $5.3 trillion-a-day foreign exchange market, with UBS saying it had taken "swift action" to review its operations. The confirmations by two of the world's biggest players in the currency markets come as investigations broaden, with the U.S. Justice Department acknowledging publicly for the first time that it was involved. ... Full Story | Top |
| Russia demands Ukraine payment, raising fears of new gas war Tuesday, Oct 29, 2013 11:54 AM PDT  By Vladimir Soldatkin MOSCOW (Reuters) - Russian gas export monopoly Gazprom demanded Ukraine pay an overdue gas bill urgently on Tuesday, raising fears of a new "gas war" and increasing pressure on Kiev as it tries to build ties with Europe. Prime Minister Dmitry Medvedev described the payment problems as critical, ahead of Kiev's signing next month of agreements with the European Union which would mark a historic shift away from former imperial master Moscow. ... Full Story | Top |
| BlackBerry met with Facebook about potential bid: WSJ Tuesday, Oct 29, 2013 11:51 AM PDT  TORONTO (Reuters) - BlackBerry Ltd executives flew to California to meet with Facebook Inc last week to gauge its interest in a potential bid for the struggling smartphone-maker, according to a Wall Street Journal report citing people familiar with the matter. It remains unclear if Facebook is interested in placing a bid. Both companies declined to comment on the WSJ report. Any deal would be an alternative to a tentative $9 a share offer from a consortium led by its largest investor, Prem Watsa's Fairfax Financial Holdings Ltd, which wants to buy BlackBerry for $4. ... Full Story | Top |
| JPMorgan's $13 billion deal hits stumbling blocks: source Tuesday, Oct 29, 2013 11:49 AM PDT  By Aruna Viswanatha and David Henry (Reuters) - JPMorgan Chase & Co's preliminary $13 billion deal to resolve federal and state probes into its mortgage bond business has hit two stumbling blocks, a person familiar with the talks said on Tuesday. In a draft settlement circulated late Sunday, JPMorgan sought a provision that effectively shut down any criminal inquires into the bank's packaging and sale of mortgage securities apart from an investigation from California prosecutors the bank has already disclosed, the person said. ... Full Story | Top |
| Wall Street gains as no change to stimulus seen; IBM lifts Tuesday, Oct 29, 2013 11:44 AM PDT  By Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks rose on Monday, extending the S&P 500's string of record highs, as economic data supported views the Federal Reserve will keep its stimulus intact for several months and IBM gained after it announced a buyback. Economic data showed consumer spending rose in September, but auto sales fell, indicating sluggish economic growth in the third quarter. Other data showed consumer confidence fell sharply in October as a result of the partial government shutdown while producer prices unexpectedly fell in September, pointing to muted inflation. ... Full Story | Top |
| Obamacare official apologizes for website glitches Tuesday, Oct 29, 2013 11:44 AM PDT  By David Morgan and Susan Heavey WASHINGTON (Reuters) - The head of the U.S. agency responsible for the troubled new government-run healthcare website apologized on Tuesday for the difficulty people are having in obtaining insurance, but blamed the portal's woes on contractors and high traffic. Marilyn Tavenner, administrator of the U.S. Centers for Medicare and Medicaid Services (CMS), said the website faces "complex technical issues" four weeks after it opened for enrollment. "We know that consumers are eager to purchase this coverage. ... Full Story | Top |
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