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Wednesday, August 1, 2012 12:00 AM PDT

Today's Reuters News Headlines - Yahoo! News: Romney stumbles on world stage but will it hit him at home? Analysis: Scientists go beyond the polls to forecast U.S. election Fed to signal more easing but stop short of big steps "Fast and Furious" gun case doomed by reckless strategy: report Regulator says no to Obama mortgage write-down plan Iconoclastic American author Gore Vidal dead at 86 Sands probed by Macau government over document transfer to U.S. Al Qaeda decline hard to reverse after Bin Laden killing: U.S. Syrian aircraft strike Aleppo, rebels claim successes Baghdad bombs kill 19, police battle suicide attackers Syrian aircraft strike Aleppo, rebels claim successes White House prepping for budget cuts, to shield military pay India power cut hits millions, among world's worst outages Facebook sinks to record low as doubts grow Apple, Samsung launch salvos as smartphone trial heats up Rising home prices show traction in housing recovery Apple, Samsung launch salvos as smartphone trial heats up India power cut hits millions, among world's worst outages Radical cleric Abu Qatada denied UK bail request Romney shrugs off criticism of bumpy European tour Consumer confidence rises in July ECB on course to act strongly or disappoint mightily Home prices rise for fourth month in May: S&P Colorado shooting suspect charged with first-degree murder Manchester United sets IPO terms Obama warns of economic "headwinds," sees euro surviving Food cost, trade "double whammy" could hit Africa Pakistan to push for intelligence sharing at U.S. talks Polish Solidarity distances itself from Romney visit Mailers fret over post's looming payment default Russia signs tougher adoption deal with U.S. ECB on course to act strongly or disappoint mightily Banks cooperate for lower fines in Euribor probe: sources Colorado shooting suspect charged with first-degree murder Aleppo rebels say they stand firm in "regime's grave" HSBC takes $2 billion hit for U.S., UK scandals Apple, Samsung patent trial starts with jury selection After the battle, despair grips Damascus Romney raises more than $1 million at end of Israel trip Insight: Oil pipeline crunch shifts U.S. shale race from drillbits to valves Romney stumbles on world stage but will it hit him at home? Tue,31 Jul 2012 02:16 PM PDT Reuters - (Note: explicit language in the seventh paragraph) WARSAW (Reuters) - Mitt Romney upset Londoners, Palestinians and U.S. journalists on his ill-fated tour abroad, but with voters focused on the economy at home it is unclear whether the Republican presidential challenger's fumbles will have a lasting effect on the November 6 election. Romney is facing doubts about whether he can handle himself on the world stage as he tries to replace President Barack Obama. ... Full Story Top Analysis: Scientists go beyond the polls to forecast U.S. election Tue,31 Jul 2012 10:02 PM PDT Reuters - WASHINGTON (Reuters) - For anyone wondering how much of the vote President Barack Obama might lose in the November 6 election because he is black, a professor in Iowa has crunched polling data and come up with an estimate: 3.3 percent. Another U.S. academic has penned a complex equation -- using data on the economy and presidential approval ratings -- that predicted who won the most votes in the last six presidential contests. ... Full Story Top Fed to signal more easing but stop short of big steps Tue,31 Jul 2012 10:06 PM PDT Reuters - WASHINGTON (Reuters) - The Federal Reserve is likely to show on Wednesday that it is ready to act against a weakening U.S. economy but stop short of aggressive measures for now. Economists say the central bank could well push back its guidance for when it sees the need for an eventual rate hike into 2015 from the current Fed consensus of late-2014, a move that could signal the depth of the central bank's concerns about the economy and hint at new measures ahead. Wall Street is braced for another round of Fed bond purchases, and some see an off chance that it might even come this afternoon. ... Full Story Top "Fast and Furious" gun case doomed by reckless strategy: report Tue,31 Jul 2012 08:44 PM PDT Reuters - WASHINGTON (Reuters) - The failed gun-running probe known as "Fast and Furious" was marred by missteps and an "inherently reckless strategy" from the beginning, said a report released on Tuesday by congressional Republicans. The Justice Department dismissed the report released by House Oversight and Government Reform Committee Chairman Darrell Issa and Senator Charles Grassley. Justice Department spokeswoman Tracy Schmaler said it reiterated "distortions and now-debunked conspiracy theories. ... Full Story Top Regulator says no to Obama mortgage write-down plan Tue,31 Jul 2012 04:45 PM PDT Reuters - WASHINGTON (Reuters) - The top housing regulator rebuffed a plan by the Obama administration to cut mortgages held by struggling homeowners, a blow to the White House, which is keen to show voters it can help fix the housing market. The regulator for government-run housing finance giants Fannie Mae and Freddie Mac said on Tuesday that using taxpayer-funded bank bailout money could encourage defaults and not make a big improvement in reducing foreclosures in a cost-effective way for taxpayers. ... Full Story Top Iconoclastic American author Gore Vidal dead at 86 Tue,31 Jul 2012 09:51 PM PDT Reuters - (Reuters) - Writer Gore Vidal, who filled his intellectual works with acerbic observations on politics, sex and American culture while carrying on feuds with his big-name literary rivals, died on Tuesday at the age of 86, Los Angeles Times reported. "Vidal died Tuesday at his home in the Hollywood Hills of complications of pneumonia," the newspaper said, quoting the author's nephew Burr Steers. Vidal's literary legacy includes a series of historical novels -- "Burr," "1876," "Lincoln" and "The Golden Age" among them -- as well as the campy transexual comedy "Myra Breckenridge. ... Full Story Top Sands probed by Macau government over document transfer to U.S. Tue,31 Jul 2012 08:24 PM PDT Reuters - HONG KONG/LOS ANGELES (Reuters) - The Macau government has launched an official investigation into Sands China, owned by billionaire Sheldon Adelson, after the company transferred documents linked to a wrongful dismissal case to the United States from Macau. It is the latest twist in a saga that has become a firestorm for the casino mogul, who owns casinos in Las Vegas, Macau and Singapore and is the most active donor in U.S. Republican candidate Mitt Romney's presidential campaign. ... Full Story Top Al Qaeda decline hard to reverse after Bin Laden killing: U.S. Tue,31 Jul 2012 02:48 PM PDT Reuters - WASHINGTON (Reuters) - Osama bin Laden's death sent al Qaeda into a decline that will be hard to reverse, the United States said on Tuesday in a report that found terrorist attacks last year fell to their lowest level since 2005. Describing 2011 as a "landmark year," the United States said other top al Qaeda members killed last year included Atiyah Abd al-Rahman, reportedly the militant organization's No. 2 figure after bin Laden's death, and Anwar al-Awlaki, who led its lethal affiliate in Yemen. ... Full Story Top Syrian aircraft strike Aleppo, rebels claim successes Tue,31 Jul 2012 10:27 PM PDT Reuters - ALEPPO, Syria (Reuters) - Syrian combat aircraft and artillery pounded Aleppo late into the night as the army battled for control of the country's biggest city, where rebel fighters said troops loyal to President Bashar al-Assad had been forced to retreat. During the day on Tuesday large clouds of black smoke rose into the sky after attack helicopters turned their machineguns on eastern districts for the first time in the latest fighting and a MiG warplane later strafed the same area. After nightfall, Reuters journalists in Aleppo heard loud explosions somewhere near the city. ... Full Story Top Baghdad bombs kill 19, police battle suicide attackers Tue,31 Jul 2012 03:04 PM PDT Reuters - BAGHDAD (Reuters) - Twin car bombs hit central Baghdad on Tuesday, killing at least 19 people, and security forces fought off a separate attack inside a police station by two suicide bombers trying to free al Qaeda prisoners. The major assault underscored the seriousness of Iraq's struggle with insurgents more than seven months after the last U.S. troops left behind a country still grappling with political instability and sectarian tensions. ... Full Story Top Syrian aircraft strike Aleppo, rebels claim successes Tue,31 Jul 2012 03:12 PM PDT Reuters - ALEPPO, Syria (Reuters) - Syrian combat aircraft and artillery pounded Aleppo late into the night as the army battled for control of the country's biggest city, where rebel fighters said troops loyal to President Bashar al-Assad had been forced to retreat. During the day on Tuesday large clouds of black smoke rose into the sky after attack helicopters turned their machineguns on eastern districts for the first time in the latest fighting and a MiG warplane later strafed the same area. After nightfall, Reuters journalists in Aleppo heard loud explosions somewhere near the city. ... Full Story Top White House prepping for budget cuts, to shield military pay Tue,31 Jul 2012 01:18 PM PDT Reuters - WASHINGTON (Reuters) - The White House said on Tuesday it was starting to get ready for potentially painful year-end spending cuts, and was committed to shielding U.S. military pay from any government budget crunch. Jeffrey Zients, acting director of President Barack Obama's Office of Management and Budget, said discussions would start soon on how to weather the looming automatic spending cuts, known as "sequestration," that would take place starting January 2 if Congress cannot achieve a deficit reduction deal. ... Full Story Top India power cut hits millions, among world's worst outages Tue,31 Jul 2012 05:02 PM PDT Reuters - NEW DELHI (Reuters) - Hundreds of millions of people across India were left without power on Tuesday in one of the world's worst blackouts, trapping miners, stranding train travelers and plunging hospitals into darkness when grids collapsed for the second time in two days. Stretching from Assam, near China, to the Himalayas and the northwestern deserts of Rajasthan, the outage covered states where half of India's 1.2 billion people live and embarrassed the government, which has failed to build up enough power capacity to meet soaring demand. ... Full Story Top Facebook sinks to record low as doubts grow Tue,31 Jul 2012 01:10 PM PDT Reuters - SAN FRANCISCO (Reuters) - Facebook Inc's shares slid 6.2 percent to another record low on Tuesday, diving for the third straight day since lackluster results showed decelerating user growth and revived doubts about its ability to sustain its rich valuation. A sobering report from Bernstein Research, combined with online chatter about the potential proliferation of automated Facebook accounts and a looming sell-off of employee shares next month all conspired to rock the stock, analysts say. ... Full Story Top Apple, Samsung launch salvos as smartphone trial heats up Tue,31 Jul 2012 05:46 PM PDT Reuters - SAN JOSE, California (Reuters) - Samsung Electronics Co Ltd told jurors that its products are not copycats of Apple Inc's iPhone but rather an example of legitimate American-style competition from the South Korean company. Lawyers for both tech giants faced off on Tuesday for opening statements in the highly anticipated U.S. patent trial, where Apple has accused Samsung of stealing iPhone features like scrolling and multi-touch. ... Full Story Top Rising home prices show traction in housing recovery Tue,31 Jul 2012 12:22 PM PDT Reuters - NEW YORK/WASHINGTON (Reuters) - Home prices rose for the fourth month in a row in May, suggesting the recovery in the housing market continued to gain traction, even as the broader economy wobbles. Other data on Tuesday showed consumer confidence unexpectedly rose in July but spending fell in June for the first time in nearly a year as Americans saved more. The S&P/Case-Shiller composite index of 20 metropolitan areas gained 0.9 percent in May from April on a seasonally adjusted basis, topping economists' expectations for a 0.5 percent gain. ... Full Story Top Apple, Samsung launch salvos as smartphone trial heats up Tue,31 Jul 2012 04:47 PM PDT Reuters - SAN JOSE, California (Reuters) - Samsung Electronics Co Ltd told jurors that its products are not copycats of Apple Inc's iPhone but rather an example of legitimate American-style competition from the South Korean company. Lawyers for both tech giants faced off on Tuesday for opening statements in the highly anticipated U.S. patent trial, where Apple has accused Samsung of stealing iPhone features like scrolling and multi-touch. ... Full Story Top India power cut hits millions, among world's worst outages Tue,31 Jul 2012 01:13 PM PDT Reuters - NEW DELHI (Reuters) - Hundreds of millions of people across India were left without power on Tuesday in one of the world's worst blackouts, trapping miners, stranding train travelers and plunging hospitals into darkness when grids collapsed for the second time in two days. Stretching from Assam, near China, to the Himalayas and the northwestern deserts of Rajasthan, the outage covered states where half of India's 1.2 billion people live and embarrassed the government, which has failed to build up enough power capacity to meet soaring demand. ... Full Story Top Radical cleric Abu Qatada denied UK bail request Tue,31 Jul 2012 08:04 AM PDT Reuters - LONDON (Reuters) - A radical Muslim cleric lost his latest legal bid on Tuesday to be freed from the British jail where he is being held pending attempts to deport him to Jordan to face terrorism charges. The decision at London's High Court to refuse Abu Qatada bail will be a relief to the British government which feared his release during the Olympics would overburden security services and police stretched by their duties protecting the Games. ... Full Story Top Romney shrugs off criticism of bumpy European tour Tue,31 Jul 2012 09:35 AM PDT Reuters - WARSAW (Reuters) - U.S. Republican presidential candidate Mitt Romney wrapped up a gaffe-filled European tour on Tuesday dismissing criticism he had undermined his attempt to present himself as a replacement for President Barack Obama on the world stage as one of his aides lost his cool with the media. Romney's European tour was meant to burnish his foreign policy credentials but has instead generated embarrassing headlines after he offended the British by questioning their readiness to host the Olympics and the Palestinians by suggesting they were culturally inferior to the Israelis. ... Full Story Top Consumer confidence rises in July Tue,31 Jul 2012 07:05 AM PDT Reuters - NEW YORK (Reuters) - Consumer confidence unexpectedly rose in July as Americans were more optimistic about the short-term outlook than they were about their current conditions, according to a private sector report released on Tuesday. The Conference Board, an industry group, said its index of consumer attitudes climbed to 65.9 from a upwardly revised 62.7 in June, topping economists' expectations for a decline to 61.5. June was originally reported as 62.0. ... Full Story Top ECB on course to act strongly or disappoint mightily Tue,31 Jul 2012 12:36 AM PDT Reuters - FRANKFURT (Reuters) - European Central Bank President Mario Draghi must back up his pledge to do what it takes to protect the euro when the bank's policymakers meet on Thursday or else face deep disappointment from investors hungry for - and expecting - immediate action. In his boldest comments to date, Draghi said last week that, within its mandate, the ECB was ready to do whatever it takes to preserve the euro, fuelling expectation the bank could revive its bond purchase program as it did a year ago when it started buying the government debt of Spain and Italy. ... Full Story Top Home prices rise for fourth month in May: S&P Tue,31 Jul 2012 06:59 AM PDT Reuters - NEW YORK (Reuters) - Single-family home prices rose for the fourth month in a row in May on a seasonally adjusted basis, suggesting the recovery in the housing market continued to gain traction, a closely watched survey showed on Tuesday. The S&P/Case-Shiller composite index of 20 metropolitan areas gained 0.9 percent in May on a seasonally adjusted basis, topping economists' expectations for a 0.5 percent gain. On a non-seasonally adjusted basis, prices fared even better, jumping 2.2 percent. ... Full Story Top Colorado shooting suspect charged with first-degree murder Mon,30 Jul 2012 07:53 PM PDT Reuters - CENTENNIAL, Colo. (Reuters) - The former graduate student accused of opening fire at a midnight screening of the new "Batman" film in Colorado, killing 12 people, was charged on Monday with 24 counts of first-degree murder, making him eligible for the death penalty if convicted. James Holmes, who was arrested behind a suburban Denver multiplex minutes after the July 20 shooting at a packed showing of "The Dark Knight Rises," also faces 116 counts of attempted murder in one of the worst outbursts of U.S. gun violence in recent years. ... Full Story Top Manchester United sets IPO terms Tue,31 Jul 2012 02:23 AM PDT Reuters - (Reuters) - English soccer team Manchester United set the terms for its U.S. initial public offering on Monday saying it will offer 16.67 million shares at between $16 and $20 each, which values the club at $3.3 billion at the top of the range. Manchester United has been struggling with a hefty debt burden ever since being acquired by the family of Florida-based businessman Malcolm Glazer and his family in 2005. The club and the Glazers each will be selling half the IPO shares in an offering that will raise as much as $333 million. ... Full Story Top Obama warns of economic "headwinds," sees euro surviving Mon,30 Jul 2012 08:49 PM PDT Reuters - NEW YORK (Reuters) - President Barack Obama warned on Monday the U.S. economy would face continuing "headwinds" over the next few months, with Europe's debt crisis still posing a challenge, but predicted the euro zone and its currency would remain intact. "I don't think ultimately that the Europeans will let the euro unravel but they are going to have to take some decisive steps," Obama said at a campaign fundraiser in New York. "I am spending an enormous amount of time trying to work with them, and (Treasury Secretary) Tim Geithner is trying to work with them," he said. ... Full Story Top Food cost, trade "double whammy" could hit Africa Tue,31 Jul 2012 05:29 AM PDT Reuters - JOHANNESBURG (Reuters) - Rising food prices could hit commodity producers in Africa with a dangerous "double whammy" when combined with an economic slowdown in Europe and China reducing African exports of oil and raw materials, a leading African economist said on Tuesday. Mthuli Ncube, Chief Economist and Vice President of the African Development Bank (AfDB), saw the threat of a food price spike casting a shadow over an otherwise positive growth outlook for Africa that will outpace much of the rest of the world. ... Full Story Top Pakistan to push for intelligence sharing at U.S. talks Mon,30 Jul 2012 03:03 PM PDT Reuters - DUBAI (Reuters) - Pakistan's spy chief will call for an end to U.S. military drone strikes in its tribal areas bordering Afghanistan and push for a sharing of technology and intelligence during a visit to Washington this week, the country's interior minister said on Monday. But indications are that Islamabad's demands for a halt to drone attacks may receive a less-than-sympathetic hearing from top Obama administration officials. ... Full Story Top Polish Solidarity distances itself from Romney visit Mon,30 Jul 2012 03:24 PM PDT Reuters - GDANSK, Poland (Reuters) - Solidarity, the trade union movement which led the Polish struggle against communist rule, distanced itself on Monday from a visit to Poland by U.S. presidential candidate Mitt Romney, saying he supported attacks on unions in his own country. Romney was in Poland on the third and final leg of a tour aimed at burnishing his foreign policy credentials and demonstrating that he would be a viable alternative to President Barack Obama on the world stage. ... Full Story Top Mailers fret over post's looming payment default Mon,30 Jul 2012 04:40 PM PDT Reuters - WASHINGTON (Reuters) - Mail industry companies are concerned about a looming default by the Postal Service on a $5.5 billion payment for future retiree health benefits, saying it adds to uncertainty about agency and helps speed the movement away from traditional mail. The Postal Service has said for months that it could not afford to make the massive payment, which was originally due in 2011 but was delayed by Congress until August 1. Congress has so far made no significant push to delay the health pre-payment again. ... Full Story Top Russia signs tougher adoption deal with U.S. Mon,30 Jul 2012 01:23 PM PDT Reuters - MOSCOW (Reuters) - President Vladimir Putin has ratified a new agreement with the United States that tightens up rules for U.S. citizens adopting Russian children, his office said on Monday, after a spate of abuse cases that have outraged public opinion in Russia. More than 60,000 Russian children have been adopted by foreigners, mostly Americans, since the 1991 collapse of the Soviet Union, a touchy subject with the Russian authorities who favor domestic adoption. ... Full Story Top ECB on course to act strongly or disappoint mightily Mon,30 Jul 2012 10:08 AM PDT Reuters - FRANKFURT (Reuters) - European Central Bank President Mario Draghi must back up his pledge to do what it takes to protect the euro when the bank's policymakers meet on Thursday or else face deep disappointment from investors hungry for - and expecting - immediate action. In his boldest comments to date, Draghi said last week that, within its mandate, the ECB was ready to do whatever it takes to preserve the euro, fuelling expectation the bank could revive its bond purchase program as it did a year ago when it started buying the government debt of Spain and Italy. ... Full Story Top Banks cooperate for lower fines in Euribor probe: sources Mon,30 Jul 2012 09:24 AM PDT Reuters - BRUSSELS (Reuters) - Several banks under investigation for suspected rigging of euro interest rates are cooperating with EU antitrust regulators in the hope of lower fines, two people familiar with the matter said on Monday, a move which puts the lenders at a higher risk of lawsuits. The decision by the banks to disclose more about their knowledge of possible manipulation of the Euro Interbank Offered Rate (Euribor) is effectively an admission of wrongdoing and illustrates growing nervousness that they face a heavy penalty. ... Full Story Top Colorado shooting suspect charged with first-degree murder Mon,30 Jul 2012 04:57 PM PDT Reuters - CENTENNIAL, Colo. (Reuters) - The former graduate student accused of opening fire at a midnight screening of the new "Batman" film in Colorado, killing 12 people, was charged on Monday with 24 counts of first-degree murder, making him eligible for the death penalty if convicted. James Holmes, who was arrested behind a suburban Denver multiplex minutes after the July 20 shooting at a packed showing of "The Dark Knight Rises," also faces 116 counts of attempted murder in one of the worst outbursts of U.S. gun violence in recent years. ... Full Story Top Aleppo rebels say they stand firm in "regime's grave" Mon,30 Jul 2012 03:26 PM PDT Reuters - ALEPPO, Syria (Reuters) - The Syrian military has stepped up its campaign to drive rebels out of Aleppo, where fighters said they were holding firm, vowing to turn the country's largest city into the "grave of the regime". Opposition activists denied a government declaration that its forces had recaptured the Salaheddine district, in southwest Aleppo, straddling the most obvious route for Syrian troop reinforcements coming from the south. ... Full Story Top HSBC takes $2 billion hit for U.S., UK scandals Mon,30 Jul 2012 08:29 AM PDT Reuters - LONDON (Reuters) - Revelations of lax anti-money laundering controls at HSBC are "shameful and embarrassing" for Europe's biggest bank, its boss said on Monday, and it may have to pay out well over $2 billion for the scandal and in compensation for UK mis-selling. HSBC set aside $700 million to cover fines and other costs after a U.S. Senate report criticized it this month for letting clients shift funds from dangerous and secretive countries, notably Mexico. Chief Executive Stuart Gulliver told reporters the ultimate cost could be "significantly higher". "What happened in Mexico and the U.S. ... Full Story Top Apple, Samsung patent trial starts with jury selection Mon,30 Jul 2012 03:28 PM PDT Reuters - SAN JOSE, California (Reuters) - A Google employee, at least five patent owners and plenty of iPhone and iPad consumers were among the potential jurors summoned to court on Monday in a high-stakes U.S. patent battle between Apple Inc and Samsung Electronics Co Ltd. U.S. District Judge Lucy Koh spent several hours examining jurors about their backgrounds and biases, as the companies began the trial after more than a year of pretrial jousting, with billions of dollars in the balance. ... Full Story Top After the battle, despair grips Damascus Sun,29 Jul 2012 06:32 AM PDT Reuters - (The identities of the reporters have been withheld for their security) DAMASCUS (Reuters) - In the once bustling shopping district of Hamra Street in the heart of Damascus, three men - all made homeless by fighting which raged in the city for two weeks - sit outside their empty shops on a deserted pavement. Residents of the eastern and southern suburbs of the Syrian capital, which have been hardest hit by President Bashar al-Assad's fierce counter-offensive against rebel forces, they have sought shelter with family in central Damascus. ... Full Story Top Romney raises more than $1 million at end of Israel trip Mon,30 Jul 2012 05:55 AM PDT Reuters - JERUSALEM (Reuters) - U.S. Republican presidential candidate Mitt Romney on Monday tapped Jewish-American donors for more than $1 million, ending a trip to Israel that aimed to show he would be a better ally than President Barack Obama. After days in which Romney spoke mostly on foreign policy issues, the fundraiser returned him to more comfortable turf - the state of the U.S. economy, which he sees as the main issue in the November 6 election. ... Full Story Top Insight: Oil pipeline crunch shifts U.S. shale race from drillbits to valves Mon,30 Jul 2012 01:44 AM PDT Reuters - HOUSTON (Reuters) - The U.S. shale oil revolution can't be stopped, but it could be delayed by a potential shortfall of 10-ton valves and giant pipeline pumps essential for rebalancing markets upended by the surge in production. Amid an unanticipated boom in inland oil output that turned the domestic market upside down last year, firms from Enterprise Products Partners to Shell Pipeline and Plains All American have launched a $20 billion bonanza to build, expand or reverse two dozen pipelines in the past year. ... Full Story Top

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