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Wednesday, December 14, 2011 12:06 AM PST

Today's Reuters News Headlines - Yahoo! News: Lawmakers in showdown over payroll tax cuts Gingrich worse against Obama than Romney: Reuters/Ipsos poll Fed sees risks from Europe, some improvement in U.S. Olympus fixes crooked accounts; takeover talk MF's Corzine said to know of customer fund misuse China makes growth guarantee against grim global economy Egypt Islamists try to hold lead in second round of voting Dead woman found at warehouse of Belgian attacker Analysis: Dividends to the fore as investment theme in Asia Scientists home in on missing link of physics Sandusky case heads to trial after hearing waived Spending bill in jeopardy as lawmakers bicker EU, without Britain, moves towards fiscal deal Syria death toll hits 5,000 as insurgency spreads Exclusive: Cuba targets military firm in corruption probe MF's Corzine said to know of customer-backed loan Fed points to risks from Europe Man shoots Belgian shoppers, children, kills three Republican-led House defies Obama on payroll tax FDIC settles with former WaMu execs U.S. lawmakers freeze $700 million to Pakistan, ties strained Defense Secretary Panetta makes unannounced Afghanistan trip WaMu settles dispute, eyes bankruptcy exit Iran says Obama should apologize for downed drone Analysis: Isolation fears push outsiders to embrace euro zone Analysis: Canada's Kyoto withdrawal began when Bush bolted Euro zone fiscal pact fails to restore confidence Two Army helicopters crash in Washington state, 4 dead Japan "likely to pick F-35 fighter" this week Obama says U.S. will be loyal partner for Iraq Gloves stay on in Gingrich-Huntsman N.H. debate Supreme Court to decide Arizona immigration law Two Putin-era Russians seek liberal mantle Intel says sales hit by hard drive shortage MF Global execs say don't know where the money is Romney, gay vet meet, differ in New Hampshire Gingrich, Romney turn up the heat in New Hampshire Trump debate still on, says conservative U.S. publisher Canada says invoking right to quit Kyoto protocol MF Global execs say they don't know where the money is Lawmakers in showdown over payroll tax cuts Tue,13 Dec 2011 11:33 PM PST Reuters - WASHINGTON (Reuters) - Republican and Democratic lawmakers were locked in an end-of-year fight on Tuesday that threatens a government shutdown, an effective tax hike for 160 million Americans and the loss of benefits for millions of unemployed. With just days left to resolve the crisis, both parties accused each other of "playing politics" with Americans' livelihoods even as they tried to gain the upper hand with a complex series of maneuvers on Capitol Hill. ... Full Story Top Gingrich worse against Obama than Romney: Reuters/Ipsos poll Tue,13 Dec 2011 10:07 PM PST Reuters - WASHINGTON (Reuters) - Newt Gingrich holds a 10-point lead in the fight for the Republican presidential nomination, but he would fare worse against President Barack Obama than Republican Mitt Romney, according to a new Reuters/Ipsos poll. With the first nominating contest in Iowa less than three weeks away, Gingrich leads Romney among Republican voters nationwide by 28 percent to 18 percent, the poll found. However, the poll raises questions about whether Gingrich -- a former speaker of the U.S. ... Full Story Top Fed sees risks from Europe, some improvement in U.S. Tue,13 Dec 2011 06:08 PM PST Reuters - WASHINGTON (Reuters) - The Federal Reserve on Tuesday warned that turmoil in Europe presents a big risk to the U.S. economy, leaving the door open to possible further steps to boost growth even though it noted a somewhat stronger labor market. The central bank said the U.S. economy was "expanding moderately" despite an apparent slowing in the world economy. But while there had been "some" improvement in the job market, unemployment remained elevated and housing depressed, it said. ... Full Story Top Olympus fixes crooked accounts; takeover talk Tue,13 Dec 2011 11:52 PM PST Reuters - TOKYO (Reuters) - Japan's disgraced Olympus Corp ironed out its crooked accounts on Wednesday, unwinding a 13-year fraud to reveal a $655 million dent in its balance sheet and igniting speculation it would need to merge or sell assets to repair its finances. The maker of cameras and medical equipment filed five years' worth of corrected statements, plus its overdue first-half results, just hours before a deadline set by the Tokyo Stock Exchange, which would have delisted the firm if it had failed. ... Full Story Top MF's Corzine said to know of customer fund misuse Tue,13 Dec 2011 06:23 PM PST Reuters - WASHINGTON (Reuters) - The regulatory arm of CME Group has turned over interviews to the Justice Department that allege former MF Global chief Jon Corzine knew that the now-bankrupt brokerage firm used customer money to lend to a European affiliate, a CME executive said on Tuesday. The information is fourth-hand but is the strongest statement yet from a regulator that Corzine may have personally known customer funds were diverted for firm use. ... Full Story Top China makes growth guarantee against grim global economy Tue,13 Dec 2011 11:34 PM PST Reuters - BEIJING (Reuters) - China pledged to guarantee growth in the face of an "extremely grim" outlook for the global economy in 2012, as its annual policy-setting conference closed on Wednesday with a series of commitments to deliver economic stability. Laying out a blueprint for the world's second-biggest economy in the year ahead, Beijing promised to keep monetary policy "prudent" and fiscal policy "pro-active" while ensuring stable consumer prices -- language broadly in line with previous commitments. ... Full Story Top Egypt Islamists try to hold lead in second round of voting Tue,13 Dec 2011 10:49 PM PST Reuters - CAIRO (Reuters) - Egyptians voted Wednesday in the second round of a parliamentary election with Islamist parties seeking to bolster early gains and secure a dominant position during the transition from army rule. Islamists have capitalized in the poll on grassroots networks built up even when they were repressed by Hosni Mubarak, though Islamist groups took a back seat initially in the uprising that toppled the president in February. Polling stations opened at 8 a.m. (0600 GMT) in the second round of the three-stage vote. ... Full Story Top Dead woman found at warehouse of Belgian attacker Tue,13 Dec 2011 11:23 PM PST Reuters - BRUSSELS (Reuters) - Belgian investigators have found the body of a woman killed by a gunman who shot dead four other people, including a 17-month-old toddler, and wounded 125 in eastern Belgium Tuesday before shooting himself. Prosecutor Cedric Visart de Bocarme told Belgian La Premiere radio station Wednesday the woman's body had been found in a warehouse used by the gunman. It brought the death toll, including the gunman, to six. ... Full Story Top Analysis: Dividends to the fore as investment theme in Asia Tue,13 Dec 2011 11:56 PM PST Reuters - HONG KONG (Reuters) - Investing for income rather than growth in Asia is likely to pay dividends for investors nursing wounds after a rough 2011 and staring at an uncertain outlook next year. A focus on dividend payouts by Asian corporates, considered by many as a somewhat defensive strategy, runs contrary to the popular notion that investing in the region is all about chasing earnings-driven momentum. ... Full Story Top Scientists home in on missing link of physics Tue,13 Dec 2011 02:44 PM PST Reuters - GENEVA (Reuters) - International scientists said on Tuesday they had found signs of the Higgs boson, an elementary sub-atomic particle believed to have played a vital role in the creation of the universe after the Big Bang. Peter Higgs, the 82-year-old British theoretical physicist who first proposed the existence of the particle in 1964 as the missing link of a grand theory of matter and energy, was watching the announcement on a webcast with colleagues at Edinburgh University, where he is an emeritus professor. ... Full Story Top Sandusky case heads to trial after hearing waived Tue,13 Dec 2011 03:06 PM PST Reuters - BELLEFONTE, Pa (Reuters) - Former Penn State University assistant football coach Jerry Sandusky on Tuesday abruptly waived his right to a preliminary hearing on child sex abuse charges, meaning his case will go straight to trial. No date has been set for a trial, which could be several months or even over a year away. The move was the latest twist in a case that has shaken the prestigious university in central Pennsylvania, and prompted a string of investigations into how the football culture at Penn State might have contributed to the scandal and its fallout. ... Full Story Top Spending bill in jeopardy as lawmakers bicker Tue,13 Dec 2011 02:35 PM PST Reuters - WASHINGTON (Reuters) - A bill that would keep the U.S. government operating beyond the weekend appeared in trouble on Tuesday as lawmakers bickered over whether they had resolved policy issues such as abortion funding and travel to Cuba. The bill has been caught up in a year-end fight between Republicans and Democrats over taxes and spending that has left Americans watching a familiar scene unfold - both parties trying to outmaneuver the other to score points ahead of the 2012 elections. ... Full Story Top EU, without Britain, moves towards fiscal deal Tue,13 Dec 2011 02:36 PM PST Reuters - STRASBOURG, France (Reuters) - Up to 26 European Union countries will finalize a pact to enforce budget discipline more strictly in the euro zone by March, a top official said on Tuesday, as the bloc tries to move quickly to rebuild confidence but without Britain's backing. European Council President Herman Van Rompuy expressed disappointment that Britain had shunned an agreement reached at an EU summit last week to pursue fiscal integration as part of efforts to tackle the debt crisis, but made clear the door would remain open for London. ... Full Story Top Syria death toll hits 5,000 as insurgency spreads Tue,13 Dec 2011 12:02 PM PST Reuters - AMMAN (Reuters) - Security forces shot dead 17 people in Syria on Tuesday and rebels killed seven police in an ambush, activists said, after the U.N. human rights chief put the death toll from nine months of protest against President Bashar al-Assad at 5,000. The bloodshed in the northern province of Idlib, which borders Turkey, highlighted the accelerating violence in Syria where an insurgency has begun to overshadow what started as peaceful street protests against Assad's 11-year rule. ... Full Story Top Exclusive: Cuba targets military firm in corruption probe Tue,13 Dec 2011 02:43 PM PST Reuters - HAVANA (Reuters) - Cuba has detained top executives of the powerful military-run Tecnotex company, broadening a corruption investigation that has already shuttered three foreign firms, foreign business sources told Reuters. Tecnotex is one of the most important trading companies on the Communist-run island, purchasing equipment, technology, construction materials and other goods for a myriad of military-owned firms in the civilian sector of the economy. Tecnotex's director Fernando Noy was among those arrested, according to a foreign businessman who deals with the company. ... Full Story Top MF's Corzine said to know of customer-backed loan Tue,13 Dec 2011 03:10 PM PST Reuters - WASHINGTON (Reuters) - An MF Global employee told regulators that former chief Jon Corzine knew that the now-bankrupt brokerage firm used customer money to lend to a European affiliate, a CME Group executive said on Tuesday. CME Executive Chairman Terrence Duffy said his company has provided this information to the Justice Department and the Commodity Futures Trading Commission, which are investigating the matter. Duffy, testifying to the Senate Agriculture Committee, said a CME auditor participated in a phone call during which an MF Global employee indicated that Corzine knew of the loan. ... Full Story Top Fed points to risks from Europe Tue,13 Dec 2011 02:37 PM PST Reuters - WASHINGTON (Reuters) - The Federal Reserve on Tuesday pointed to turmoil in Europe as a big risk to the U.S. economy, leaving the door open to a further easing of monetary policy even as it noted some improvement in the U.S. labor market. The central bank characterized the U.S. economy as expanding moderately despite an apparent slowing in global growth and said that while there had been "some" improvement in the job market, unemployment remained elevated and housing depressed. ... Full Story Top Man shoots Belgian shoppers, children, kills three Tue,13 Dec 2011 02:36 PM PST Reuters - LIEGE, Belgium (Reuters) - A man hurled grenades at a bus stop in the Belgian city of Liege and sprayed gunfire at crowds of Christmas shoppers and children on Tuesday, killing three people and wounding 123 before fatally shooting himself in the head. It was not clear what his motive was, but Belgian officials said there was no indication it was an act of terrorism. ... Full Story Top Republican-led House defies Obama on payroll tax Tue,13 Dec 2011 03:55 PM PST Reuters - WASHINGTON (Reuters) - The Republican-led House of Representatives defied a White House veto threat on Tuesday and passed a bill to expedite approval of the Keystone XL Canada-to-Texas pipeline project. The provision was part of a broader bill to extend a payroll tax cut for 160 million Americans. Democrats oppose Republicans' efforts to link the two issues and the measure is expected to die in the Democratic-controlled Senate. (Reporting By Thomas Ferraro) Full Story Top FDIC settles with former WaMu execs Tue,13 Dec 2011 12:11 PM PST Reuters - (Reuters) - Three former executives of Washington Mutual Inc agreed to a $64 million settlement to resolve a government lawsuit over their role in the biggest bank failure in U.S. history. The settlement, announced by Federal Deposit Insurance Corp officials on Tuesday, is part of efforts by the agency to sue former banking executives to recover funds from a rash of bank closures. But the Washington Mutual settlement will largely be paid out of the company's remaining professional liability insurance, not out of the executives' own pockets. ... Full Story Top U.S. lawmakers freeze $700 million to Pakistan, ties strained Tue,13 Dec 2011 01:39 AM PST Reuters - ISLAMABAD (Reuters) - A U.S. Congressional panel has frozen $700 million in aid to Pakistan until it gives assurances it is helping fight the spread of homemade bombs in the region, a move one Pakistani senator called unwise and likely to strain ties further. Pakistan is one of the largest recipients of U.S. foreign aid and the cutback announced is only a small proportion of the billions in civil and military assistance it gets each year. But it could presage even greater cuts. ... Full Story Top Defense Secretary Panetta makes unannounced Afghanistan trip Tue,13 Dec 2011 06:34 AM PST Reuters - KABUL (Reuters) - Defense Secretary Leon Panetta arrived in Kabul on Tuesday for an unannounced visit at a time of persistent violence and as the United States and its Western allies are reducing troop levels in Afghanistan. Panetta's visit comes on the heels of bomb attacks on Shi'ite Muslim ceremonies in three Afghan cities. Afghan President Hamid Karzai said the attacks killed 80 people. NATO commanders say that a "surge" of more than 30,000 U.S. troops in 2009-2010 helped push the Taliban out of some areas of its southern heartland. ... Full Story Top WaMu settles dispute, eyes bankruptcy exit Tue,13 Dec 2011 06:52 AM PST Reuters - (Reuters) - Washington Mutual Inc, the biggest bank to fail in U.S. history, said it reached a settlement in a dispute between shareholders and certain creditors that had prevented the bank from emerging from Chapter 11 bankruptcy proceedings. WaMu got a respite late on Monday when it said in a court filing that the shareholders represented by an equity committee would drop legal claims against settlement noteholders. ... Full Story Top Iran says Obama should apologize for downed drone Tue,13 Dec 2011 08:53 AM PST Reuters - TEHRAN (Reuters) - President Barack Obama should apologize for sending an unmanned spy plane into Iranian territory rather than asking for it back after it was seized, Iran's Foreign Ministry spokesman said on Tuesday. Iran announced on December 4 it had downed the spy plane in the eastern part of the country, near Afghanistan. It has since shown the plane on television and said it is close to cracking its technological secrets. On Monday, Obama told a news conference: "We have asked for it back. We'll see how the Iranians respond. ... Full Story Top Analysis: Isolation fears push outsiders to embrace euro zone Tue,13 Dec 2011 05:36 AM PST Reuters - BRUSSELS (Reuters) - A determination not to be sidelined is driving EU countries that don't use the euro to support deeper integration in the single currency area, even though they reject joining the club until Europe's sovereign debt crisis is resolved. Nine of the 10 non-euro-zone EU countries agreed at a summit last week to back the 17 members of the bloc in drafting an intergovernmental plan for fiscal union to try to save the euro after Britain refused to back the goal of EU treaty change. ... Full Story Top Analysis: Canada's Kyoto withdrawal began when Bush bolted Tue,13 Dec 2011 12:00 PM PST Reuters - OTTAWA (Reuters) - Canada's widely criticized withdrawal from the Kyoto protocol ends a decade-long saga that began in earnest when former President George W. Bush walked away from the global climate change treaty in 2001. The close links between the two economies, and the fact the United States has a population almost 10 times larger than that of Canada, meant that Ottawa ultimately felt it had to follow Washington's lead and ignore the diplomatic fallout. "That's the reality. ... Full Story Top Euro zone fiscal pact fails to restore confidence Mon,12 Dec 2011 02:16 PM PST Reuters - LONDON/PARIS (Reuters) - A European summit deal to strengthen budget discipline in the euro zone failed to restore financial market confidence on Monday, forcing the European Central Bank to step in again gingerly. The euro fell, stocks slid and borrowing costs for Italy and Spain rose as investors weighed the outcome of last week's summit that split the European Union, with Britain blocking treaty change and forcing euro zone countries to negotiate a fiscal accord outside the Union. ... Full Story Top Two Army helicopters crash in Washington state, 4 dead Tue,13 Dec 2011 11:19 AM PST Reuters - SEATTLE (Reuters) - Two U.S. Army helicopters crashed on Monday during training exercises at a Washington state military base, killing four aviators on board, the base said in a statement. Brendalyn Carpenter, a spokeswoman for Joint Base Lewis-McChord, confirmed that "there was an accident" in the evening and that military police and emergency personnel were en route to the accident scene at the base near Tacoma. ... Full Story Top Japan "likely to pick F-35 fighter" this week Mon,12 Dec 2011 11:54 PM PST Reuters - TOKYO (Reuters) - Japan will likely pick Lockheed Martin's F-35 jet as its next frontline fighter, media reported on Tuesday, which may help end six decades of isolation for the country's defense contractors and bolster its military against growing Chinese might. The government will choose between two U.S. models -- the F-35 and the Boeing F/A-18 Super Hornet -- and Europe's four-nation Eurofighter Typhoon, at a meeting of the national security council on Friday, the Nikkei business daily said. ... Full Story Top Obama says U.S. will be loyal partner for Iraq Mon,12 Dec 2011 03:37 PM PST Reuters - WASHINGTON (Reuters) - With Iranian influence and Syria's instability looming over Iraq as U.S. troops pack up to go, President Barack Obama assured Baghdad on Monday the United States would remain a strong partner beyond the withdrawal. The removal of almost all U.S. forces from Iraq by December 31 has created uncertainty at a time when the region remains roiled by the Arab Spring, and amid fear that a bloody anti-government revolt in Syria could spread sectarian strife into neighboring Iraq. ... Full Story Top Gloves stay on in Gingrich-Huntsman N.H. debate Mon,12 Dec 2011 07:30 PM PST Reuters - MANCHESTER, New Hampshire (Reuters) - The gloves didn't have to come off on Monday night in a Lincoln-Douglas style debate between Republican rivals Newt Gingrich and Jon Huntsman, who found more agreement than strife on foreign policy issues. The debate pitted the current Republican front-runner against the former Utah governor who is trailing in the dead-last zone among the pack of candidates running to challenge Democratic President Barack Obama in November 2012. ... Full Story Top Supreme Court to decide Arizona immigration law Mon,12 Dec 2011 11:50 AM PST Reuters - WASHINGTON (Reuters) - The Supreme Court on Monday said it will rule for the first time on one of several tough, new state immigration laws, with a decision coming in the middle of the 2012 presidential election campaign. Potentially deepening political divisions over the contentious immigration policy issue, the court will decide if key parts of an Arizona crackdown can proceed. The ruling could have implications for similar tough laws adopted recently in other states. ... Full Story Top Two Putin-era Russians seek liberal mantle Mon,12 Dec 2011 11:05 AM PST Reuters - MOSCOW (Reuters) - Russia's former finance chief and one of its richest tycoons put themselves forward as candidates to unite liberal and middle-class voters who vented frustration with Vladimir Putin's political dominance by taking to the streets in protest. Alexei Kudrin, a longtime Putin ally forced out as finance minister in September, said he wanted to help create a liberal party to fill a void exposed by Russia's December 4 parliamentary vote, which set off mass protests over alleged fraud. ... Full Story Top Intel says sales hit by hard drive shortage Mon,12 Dec 2011 02:30 PM PST Reuters - (Reuters) - Intel Corp warned that hard-disk drive supply shortages would hurt its current-quarter revenue, the latest heavyweight in the PC industry to caution about the effects of flooding that has crippled factories in Thailand. The warning sent shares of the world's top chipmaker down 4.8 percent and weighed on Wall Street. Hundreds of people have died in flooding in Thailand that has caused billions of dollars in damages since late July and disrupted international supply chains in the PC and automobile industries. ... Full Story Top MF Global execs say don't know where the money is Mon,12 Dec 2011 04:00 PM PST Reuters - WASHINGTON (Reuters) - Top-ranking executives at MF Global will tell lawmakers on Tuesday that they do not know what happened to hundreds of millions of dollars in missing customer funds, echoing what their former colleague Jon Corzine told Congress last week. MF Global Chief Operating Officer Bradley Abelow and Chief Financial Officer Henri Steenkamp are due to testify on Tuesday alongside Corzine, who resigned last month after the brokerage filed for bankruptcy. ... Full Story Top Romney, gay vet meet, differ in New Hampshire Mon,12 Dec 2011 02:42 PM PST Reuters - MANCHESTER, New Hampshire (Reuters) - Republican Mitt Romney probably expected a different scenario in a Manchester diner on Monday when he tucked into a booth to make small talk with an older man wearing a "Vietnam Vet" baseball cap. Romney has been vocal in opposing cuts to U.S. military spending, and chatting up a veteran would seem like an easy warm-up to a day on the campaign trail. But military spending wasn't on the mind of Bob Garon, who served in the U.S. Army during the Vietnam War. Garon is gay, and a newlywed. ... Full Story Top Gingrich, Romney turn up the heat in New Hampshire Mon,12 Dec 2011 03:53 PM PST Reuters - HOLLIS, New Hampshire (Reuters) - The tense campaign between Republican presidential candidates Newt Gingrich and Mitt Romney heated up further on Monday in New Hampshire, where Romney's lead in opinion polls has shrunk in recent weeks. The frontrunners for the 2012 Republican nomination to challenge Democratic President Barack Obama campaigned near to each other in the Manchester area. Their biting remarks about one another reflected how New Hampshire - long seen as a lock for Romney, a former Massachusetts governor - now has the look of a competitive primary. ... Full Story Top Trump debate still on, says conservative U.S. publisher Mon,12 Dec 2011 03:05 PM PST Reuters - WASHINGTON (Reuters) - The Conservative publisher Newsmax said it is going ahead with a planned December 27 Republican presidential "debate" moderated by Donald Trump and featuring candidates Newt Gingrich and Rick Santorum, despite controversy generated by one of its star attractions. ... Full Story Top Canada says invoking right to quit Kyoto protocol Mon,12 Dec 2011 02:31 PM PST Reuters - OTTAWA (Reuters) - Canada will formally withdraw from the Kyoto protocol on climate change, Environment Minister Peter Kent said on Monday. "As we've said, Kyoto for Canada is in the past ... We are invoking our legal right to formally withdraw from Kyoto," he told reporters. (Reporting by David Ljunggren and Louise Egan; editing by Rob Wilson) Full Story Top MF Global execs say they don't know where the money is Mon,12 Dec 2011 02:31 PM PST Reuters - WASHINGTON (Reuters) - MF Global executives will tell lawmakers on Tuesday they do not know what happened to hundreds of millions of dollars in missing customer funds, echoing what their former colleague Jon Corzine told Congress last week. MF Global Chief Operating Officer Bradley Abelow and Chief Financial Officer Henri Steenkamp are due to testify on Tuesday alongside Corzine, who resigned last month after the brokerage filed for bankruptcy. In prepared testimony, both executives say they are distressed by the search for the funds. ... Full Story Top

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