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Friday, July 1, 2011 12:02 AM PDT

Today's Reuters News Headlines - Yahoo! News: Case against Strauss-Kahn near collapse: sources Geithner mulls departing Treasury post: sources U.S. ends most CIA abuse cases, to probe two deaths Fed's Bullard: QE effective proxy for rate cuts Venezuela's Chavez says he was treated for cancer Greek lawmakers back reforms, clear way for more aid U.S. caught China buying more debt than disclosed Lockheed's aeronautics unit to cut 1,500 jobs Midwest factories roar, but labor market weak Democrats weigh short-term debt limit increase U.S. rejects demands to vacate Pakistan drone base Thirty months in prison for lawyer in Galleon case Fed's Bullard: QE effective proxy for rate cuts Geithner mulls departing Treasury post: sources Democrats weigh short-term debt limit increase Ex-Taylor, Bean chairman gets 30 years in prison Investors stay cautious as H2 starts: Reuters poll NATO air strike kills fighter linked to Afghan hotel attack ECB flags July rate rise as inflation stays high NASA bids farewell to "amazing" relic, the shuttle MSNBC suspends analyst Halperin for Obama remark Analysis: Stimulus ends, state healthcare on life support New Lloyds CEO cuts 15,000 jobs in revival plan Russia: arming Libya rebels is "crude violation" Exclusive: S&P to deeply cut U.S. ratings if debt payment missed As QE2 ends, market debates Fed's next move Obama weighed military and political risk for Afghan plan Analysis: Weak economy shadows Obama in bright areas Roger Clemens to hit back against perjury charges Survey ranks San Francisco greenest U.S. city Asia looks to "friend" Lagarde to honor IMF pledges Bank of America expects loss after settlement Defense not the cause of budget deficit: Gates Obama call for stimulus may complicate debt talks Cost of war at least $3.7 trillion and counting FDA panel rejects Avastin for breast cancer use New settlement push in CFTC oil manipulation case LSE, TMX abort their merger, leaving both in play Obama wins first appeals court healthcare ruling Exclusive: S&P to deeply cut U.S. ratings if debt payment missed Case against Strauss-Kahn near collapse: sources Thu,30 Jun 2011 11:56 PM PDT Reuters - NEW YORK/PARIS (Reuters) - The sexual assault case against former IMF chief Dominique Strauss-Kahn is near collapse, sources said on Thursday, raising the prospect of a dramatic return to France's presidential election race. Full Story1 Top Geithner mulls departing Treasury post: sources Thu,30 Jun 2011 06:11 PM PDT Reuters - WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner is considering stepping down later this year, but will not make a decision until contentious negotiations over the U.S. debt ceiling are completed, people familiar with his thinking said on Thursday. Full Story1 Top U.S. ends most CIA abuse cases, to probe two deaths Thu,30 Jun 2011 03:00 PM PDT Reuters - WASHINGTON (Reuters) - A prosecutor will conduct a full criminal investigation into the CIA's handling of two prisoners who died in U.S. custody, but about 100 other cases of alleged mistreatment by the CIA were closed, Attorney General Eric Holder said on Thursday. Full Story1 Top Fed's Bullard: QE effective proxy for rate cuts Thu,30 Jun 2011 06:04 PM PDT Reuters - ST. LOUIS (Reuters) - A top Federal Reserve official said on Thursday large-scale bond buying can be an effective monetary policy substitute when the central bank runs out of room to cut interest rates. Full Story1 Top Venezuela's Chavez says he was treated for cancer Thu,30 Jun 2011 11:25 PM PDT Reuters - CARACAS (Reuters) - Venezuela's flamboyant socialist leader Hugo Chavez said on Thursday he had surgery to remove a cancerous tumor, presenting a serious challenge to his near-total dominance of the South American OPEC nation since 1999. Full Story1 Top Greek lawmakers back reforms, clear way for more aid Thu,30 Jun 2011 02:07 PM PDT Reuters - ATHENS/BERLIN (Reuters) - The Greek parliament approved detailed austerity and privatization bills on Thursday in a crucial vote to secure emergency funds and avert imminent bankruptcy, but longer-term dangers still lurk. Full Story1 Top U.S. caught China buying more debt than disclosed Thu,30 Jun 2011 05:44 AM PDT Reuters - NEW YORK (Reuters) - The rules of Treasury auctions may not sound like the stuff of high-stakes diplomacy. But a little-noticed 2009 change in how Washington sells its debt sheds new light on America's delicate balancing act with its biggest creditor, China. Full Story1 Top Lockheed's aeronautics unit to cut 1,500 jobs Thu,30 Jun 2011 03:36 PM PDT Reuters - ATLANTA (Reuters) - The aeronautics unit of Lockheed Martin Corp, the Pentagon's No. 1 supplier by sales, said on Thursday that it plans to cut about 1,500 jobs to reduce costs in response to a flattening of U.S. defense spending. Full Story1 Top Midwest factories roar, but labor market weak Thu,30 Jun 2011 01:44 PM PDT Reuters - WASHINGTON (Reuters) - Factory activity in the U.S. Midwest accelerated in June, fostering hopes for a pick-up in economic growth in the third quarter, despite signs of lingering weakness in the labor market. Full Story1 Top Democrats weigh short-term debt limit increase Thu,30 Jun 2011 05:03 PM PDT Reuters - WASHINGTON (Reuters) - U.S. Senate Democrats have discussed with President Barack Obama a scaled-back budget deal that would avert a looming default but force Congress to tackle the politically toxic issue again before the 2012 elections, a Senate Democratic aide told Reuters on Thursday. Full Story1 Top U.S. rejects demands to vacate Pakistan drone base Thu,30 Jun 2011 12:59 PM PDT Reuters - WASHINGTON/ISLAMABAD (Reuters) - The United States is rejecting demands from Pakistani officials that American personnel abandon a military base used by the CIA to stage drone strikes against suspected militants, U.S. officials told Reuters. Full Story1 Top Thirty months in prison for lawyer in Galleon case Thu,30 Jun 2011 02:00 PM PDT Reuters - NEW YORK (Reuters) - Arthur Cutillo, a former lawyer with the well-known Ropes & Gray law firm who admitted leaking corporate secrets in exchange for $32,500 in cash, was sentenced on Thursday to 2-1/2 years in prison for his part in a sweeping insider trading case. Full Story1 Top Fed's Bullard: QE effective proxy for rate cuts Thu,30 Jun 2011 04:21 PM PDT Reuters - ST. LOUIS (Reuters) - Large-scale bond buying can be an effective monetary policy substitute when the Federal Reserve runs out of room to cut interest rates, a top official of the U.S. central bank said on Thursday. Full Story1 Top Geithner mulls departing Treasury post: sources Thu,30 Jun 2011 04:00 PM PDT Reuters - WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner is considering stepping down later this year, but will not make any decision until after debt limit negotiations conclude, people familiar with his thinking said on Thursday. Full Story1 Top Democrats weigh short-term debt limit increase Thu,30 Jun 2011 02:03 PM PDT Reuters - WASHINGTON (Reuters) - President Barack Obama and Senate Democrats are weighing a scaled-back U.S. budget deal that would avert a looming default but force Congress to tackle the politically toxic issue again before the 2012 elections, a Senate Democratic aide told Reuters on Thursday. Full Story1 Top Ex-Taylor, Bean chairman gets 30 years in prison Thu,30 Jun 2011 10:51 AM PDT Reuters - ALEXANDRIA, Virginia (Reuters) - Taylor, Bean & Whitaker Mortgage Corp's former chairman, convicted of masterminding a $2.9 billion fraud scheme before the company collapsed, was sentenced on Thursday to 30 years in prison. Full Story1 Top Investors stay cautious as H2 starts: Reuters poll Thu,30 Jun 2011 11:39 AM PDT Reuters - LONDON (Reuters)- Investors have become a little more upbeat heading into the second half of the year, lifting stock allocations from 2011 lows but remaining cautious with plenty of safe-haven cash and bonds. Full Story1 Top NATO air strike kills fighter linked to Afghan hotel attack Thu,30 Jun 2011 06:40 AM PDT Reuters - KABUL (Reuters) - NATO aircraft killed an insurgent leader linked to a deadly hotel attack in the Afghan capital this week, the coalition said on Thursday, a raid that raised questions about whether Afghan forces are ready for the looming security transition. Full Story1 Top ECB flags July rate rise as inflation stays high Thu,30 Jun 2011 06:55 AM PDT Reuters - BRUSSELS (Reuters) - The European Central Bank signaled it would raise interest rates again next week as data showed inflation in June stabilized well above the bank's target. Full Story1 Top NASA bids farewell to "amazing" relic, the shuttle Thu,30 Jun 2011 09:13 AM PDT Reuters - MIAMI (Reuters) - When the United States embarked on its shuttle program decades ago, it set out to build a workhorse vehicle that would make space travel routine and beat the Soviets during the Cold War struggle for dominance in space. Full Story1 Top MSNBC suspends analyst Halperin for Obama remark Thu,30 Jun 2011 12:55 PM PDT Reuters - (Note: Use of strong language in the second paragraph) Full Story1 Top Analysis: Stimulus ends, state healthcare on life support Thu,30 Jun 2011 06:58 AM PDT Reuters - MIAMI (Reuters) - As healthcare costs for the poor soar across the United States, perhaps no state will feel the loss of federal stimulus money more than Florida. Full Story1 Top New Lloyds CEO cuts 15,000 jobs in revival plan Thu,30 Jun 2011 07:54 AM PDT Reuters - LONDON (Reuters) - Lloyds will axe 15,000 jobs and halve its international presence, a plan its new boss hopes will save 1.5 billion pounds ($2.4 billion) a year by 2014 and return the part-nationalized British bank to health. Full Story1 Top Russia: arming Libya rebels is "crude violation" Thu,30 Jun 2011 02:08 PM PDT Reuters - TRIPOLI (Reuters) - Russia accused France on Thursday of committing a "crude violation" of a U.N. weapons embargo by arming Libyan rebels, while Washington said it was acting legally, creating a new diplomatic dispute over the Western air war. Full Story1 Top Exclusive: S&P to deeply cut U.S. ratings if debt payment missed Thu,30 Jun 2011 01:55 AM PDT Reuters - NEW YORK (Reuters) - The United States would immediately have its top-notch credit rating slashed to "selective default" if it misses a debt payment on August 4, Standard & Poor's managing director John Chambers told Reuters. Full Story1 Top As QE2 ends, market debates Fed's next move Wed,29 Jun 2011 09:56 PM PDT Reuters - NEW YORK (Reuters) - The Federal Reserve ends its $600 billion bond-buying program, known as QE2, on Thursday and has yet to offer any hints of more monetary easing to come. Full Story1 Top Obama weighed military and political risk for Afghan plan Wed,29 Jun 2011 10:15 PM PDT Reuters - WASHINGTON (Reuters) - President Barack Obama's plan for pulling U.S. troops from Afghanistan will intensify risks in the thick of next year's fighting season, but Obama was right to factor in waning support at home for the war, outgoing Defense Secretary Robert Gates told Reuters. Full Story1 Top Analysis: Weak economy shadows Obama in bright areas Thu,30 Jun 2011 08:05 AM PDT Reuters - WASHINGTON (Reuters) - A bright spot for President Barack Obama in the bleak economic picture should be that many of the "swing" states crucial to his 2012 re-election bid are weathering the recession relatively well. Full Story1 Top Roger Clemens to hit back against perjury charges Thu,30 Jun 2011 06:39 AM PDT Reuters - WASHINGTON (Reuters) - As one of the greatest pitchers in baseball history, Roger Clemens had expected to be on the verge of induction into the Hall of Fame now but instead he is focused on staying out of prison, accused of lying about using performance-enhancing drugs. Full Story1 Top Survey ranks San Francisco greenest U.S. city Thu,30 Jun 2011 08:31 AM PDT Reuters - ASPEN, Colo. (Reuters) - San Francisco is the greenest city in North America, followed by Vancouver and New York, according to the latest survey of green-city rankings. Full Story1 Top Asia looks to "friend" Lagarde to honor IMF pledges Wed,29 Jun 2011 05:31 PM PDT Reuters - SINGAPORE (Reuters) - Asia's fast-rising economies set their sights on securing key IMF posts under new chief Christine Lagarde, hopeful she would be the one to make good on oft-heard pledges to give more power to emerging markets. Full Story1 Top Bank of America expects loss after settlement Wed,29 Jun 2011 05:11 PM PDT Reuters - CHARLOTTE, N.C./NEW YORK (Reuters) - Bank of America Corp said it expects to take more than $20 billion of charges after settling with mortgage bond investors, resulting in a second-quarter loss. Full Story1 Top Defense not the cause of budget deficit: Gates Wed,29 Jun 2011 10:39 PM PDT Reuters - WASHINGTON (Reuters) - Military spending is not the cause of the $1.4 trillion U.S. budget deficit, and even a "disastrous" 10 percent cut would only reduce the budget shortfall by some $50 billion -- about 4 percent, Defense Secretary Robert Gates says. Full Story1 Top Obama call for stimulus may complicate debt talks Wed,29 Jun 2011 03:05 PM PDT Reuters - WASHINGTON (Reuters) - U.S. President Barack Obama called on Wednesday for new steps to spur job growth and tax hikes on the rich, hardening a stance that will likely complicate deficit reduction talks with Republicans. Full Story1 Top Cost of war at least $3.7 trillion and counting Wed,29 Jun 2011 01:28 PM PDT Reuters - NEW YORK (Reuters) - When President Barack Obama cited cost as a reason to bring troops home from Afghanistan, he referred to a $1 trillion price tag for America's wars. Full Story1 Top FDA panel rejects Avastin for breast cancer use Wed,29 Jun 2011 02:44 PM PDT Reuters - SILVER SPRING, Maryland (Reuters) - U.S. health advisers unanimously rejected use of the drug Avastin for breast cancer, dealing a blow to its manufacturer and patients who insisted that the medicine saved their lives. Full Story1 Top New settlement push in CFTC oil manipulation case Wed,29 Jun 2011 09:21 AM PDT Reuters - NEW YORK (Reuters) - One of the biggest oil market manipulation cases undertaken by regulators is entering a new phase in which a judge will mediate settlement talks, three years after the case was launched. Full Story1 Top LSE, TMX abort their merger, leaving both in play Wed,29 Jun 2011 02:26 PM PDT Reuters - TORONTO/LONDON (Reuters) - The London Stock Exchange's C$3.6 billion ($3.7 billion) plan to buy its Toronto counterpart collapsed on Wednesday in the face of a competing bid led by Canadian banks, leaving the UK exchange itself vulnerable to takeover. Full Story1 Top Obama wins first appeals court healthcare ruling Wed,29 Jun 2011 02:15 PM PDT Reuters - WASHINGTON (Reuters) - A U.S. appeals court on Wednesday upheld President Barack Obama's signature healthcare law, handing a victory to the White House by ruling Congress had the power to require that Americans buy insurance. Full Story1 Top Exclusive: S&P to deeply cut U.S. ratings if debt payment missed Wed,29 Jun 2011 11:32 AM PDT Reuters - NEW YORK (Reuters) - The United States would immediately have its top-notch credit rating slashed to "selective default" if it misses a debt payment on August 4, Standard & Poor's managing director John Chambers told Reuters. Full Story1 Top

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