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Thursday, August 30, 2012 12:02 AM PDT

Today's Reuters News Headlines - Yahoo! News: Drenched New Orleans passes big post-Katrina test Ryan promises Romney will make tough choices on economy U.S. drone strike kills suspected militants: Yemen official Three Australian soldiers killed by rogue Afghan soldier Analysis: Ryan puts down calculator, picks up bullhorn Analysis: Things we've learned at the Republican convention Trayvon Martin shooter wins appeal for new judge Exclusive: China considers downgrading domestic security tsar in next line-up Ecuador upbeat about deal to end Assange standoff Syrian opposition group not up to job, says ex-member Second-quarter growth revised up, Fed still seen in play Barclays says UK fraud unit starts investigation New Orleans withstands Isaac's wrath, for now Ryan promises he and Romney will lead America back Three foreign soldiers killed by rogue Afghan soldier Israel court tells settlers to evacuate outpost by Tuesday Tymoshenko loses appeal, stays in Ukraine jail U.N. nuclear watchdog team to examine Iran program Loss of radio contact prompts Amsterdam plane hijack scare Markets will wait for ECB silver bullet, but not for long Barclays faces UK fraud probe on Qatar payments Big bets aim to jolt heart drug sales back to life Hearing on Apple injunction vs Samsung set for December Red Cross halts most Pakistan aid after beheading Analysis: China's aircraft carrier: in name only France opens murder inquiry into Arafat's 2004 death Spanish recession darkens as country mulls bailout Draghi tells Germans ECB action needed for stability Iran denies plans to show nuclear sites to diplomats Syria refugee exodus raises pressure for buffer zone Home prices gain again but consumer mood cools Venezuela stamps out refinery blaze, eyes a restart Republicans nominate Romney at storm-hit convention Hurricane Isaac to hit New Orleans, making landfall soon Republicans nominate Romney as presidential candidate Home prices gain for fifth month in June: S&P Exclusive: Egypt's president rules out currency devaluation Obama warns of flooding from Tropical Storm Isaac Warplane attacks on Damascus suburbs kill 60: activists Arizona Republicans go to polls in primary Drenched New Orleans passes big post-Katrina test Wed,29 Aug 2012 09:47 PM PDT Reuters - NEW ORLEANS (Reuters) - Drenching rains from Hurricane Isaac brought flooding to the U.S. Gulf Coast on Wednesday, but elaborate defenses built to protect New Orleans after it was devastated by Hurricane Katrina seven years ago seemed to pass their first major test. The slow moving weather system, downgraded to a tropical storm on Wednesday, dumped massive amounts of rain to test new levees and flood containment systems and officials were careful not to declare a premature victory. ... Full Story Top Ryan promises Romney will make tough choices on economy Wed,29 Aug 2012 10:24 PM PDT Reuters - TAMPA, Florida (Reuters) - Paul Ryan promised on Wednesday that he and Republican presidential contender Mitt Romney would make the tough choices needed to lead a U.S. economic turnaround that generates jobs and cuts government spending and debt. Ryan accepted his nomination as Romney's running mate at the Republican convention in Tampa, Florida, drawing repeated roars from delegates as he vowed to challenge President Barack Obama's economic policies and confront Democrats on changes to the popular Medicare health program for seniors. ... Full Story Top U.S. drone strike kills suspected militants: Yemen official Wed,29 Aug 2012 02:08 PM PDT Reuters - ADEN (Reuters) - A U.S. drone attack killed at least four suspected Islamist militants in a car in a remote province of Yemen, a security official said. The official, who did not want to be named, said the vehicle was struck in the al-Qatn district of the vast Hadramout province in eastern Yemen. Residents said the car was struck by one of three missiles fired from a plane and that charred bodies were pulled from it afterwards. It was not clear if there were other casualties in the attack. ... Full Story Top Three Australian soldiers killed by rogue Afghan soldier Wed,29 Aug 2012 06:02 PM PDT Reuters - KABUL (Reuters) - Three Australian soldiers were killed in southern Afghanistan on Wednesday by a gunman wearing an Afghan army uniform, the NATO-led coalition said, the latest in an alarming series of "rogue" shootings that have damaged trust between Kabul and its allies. The Australian Defence Force on Thursday confirmed the nationality of the soldiers who were serving in southern Uruzgan province, where around 1,500 Australian troops are based. It said families in Australia were being informed of the deaths. ... Full Story Top Analysis: Ryan puts down calculator, picks up bullhorn Wed,29 Aug 2012 10:42 PM PDT Reuters - TAMPA, Florida (Reuters) - Paul Ryan built his reputation as a fearless wonk who wasn't afraid to put specific numbers on his small-government ideals. Now that he is the Republican Party's vice presidential nominee, the devil lies in the details. In a speech that marked his ascension onto the national stage, Ryan spelled out his conservative vision in the broad brush strokes of the presidential campaign, rather than the pointillistic data sets of the House of Representatives Budget Committee. But the core message at the Republican National Convention was the same. ... Full Story Top Analysis: Things we've learned at the Republican convention Wed,29 Aug 2012 10:17 PM PDT Reuters - TAMPA, Florida (Reuters) - Mitt Romney's campaign choreographed the Republican National Convention to sell voters on three ideas: that the party is unified behind Romney; that he is a qualified presidential candidate who's warmer than he seems, and that his running mate, Wisconsin Representative Paul Ryan, is ready to be one step from the presidency. Ryan took his turn at trying to make the sale on Wednesday night in a convention speech that had Republican delegates roaring with approval. On Thursday, it's Romney's turn. ... Full Story Top Trayvon Martin shooter wins appeal for new judge Wed,29 Aug 2012 04:41 PM PDT Reuters - MIAMI (Reuters) - A Florida appeals court ruled on Wednesday that George Zimmerman, a former neighborhood watch volunteer who fatally shot unarmed black teenager Trayvon Martin, should be granted a new judge in his case. The decision from the three-judge panel came in response to a motion filed by Zimmerman's lawyer asking the court to overturn a ruling by Judge Kenneth Lester refusing to step down from the case. "We direct the trial judge to enter an order of disqualification," the state's Fifth District Court of Appeal wrote in its opinion. One of the judges dissented in the decision. ... Full Story Top Exclusive: China considers downgrading domestic security tsar in next line-up Wed,29 Aug 2012 04:00 PM PDT Reuters - BEIJING (Reuters) - China's Communist Party is considering downgrading the role of domestic security chief as part of a move to a new and smaller top elite, reflecting fears that the position has become too powerful, sources said. Reducing the party's Politburo Standing Committee, the inner council at the apex of power, from nine to seven members would come as part of a once-in-a-decade leadership change expected in the next few weeks or months. ... Full Story Top Ecuador upbeat about deal to end Assange standoff Wed,29 Aug 2012 12:33 PM PDT Reuters - QUITO (Reuters) - Talks have resumed between Ecuador and Britain over the fate of WikiLeaks' founder Julian Assange, and Ecuador's government said on Wednesday it was optimistic of a deal that would prevent him being extradited to the United States. Assange has been in hiding at Ecuador's embassy in London for more than two months, seeking to avoid being sent to Sweden for questioning over rape and sexual assault allegations -- and triggering a diplomatic stand-off that now looks to be easing. "I'm convinced we'll find a way out ... ... Full Story Top Syrian opposition group not up to job, says ex-member Wed,29 Aug 2012 03:01 PM PDT Reuters - UNITED NATIONS/ANKARA (Reuters) - The opposition Syrian National Council has failed to overcome internal divisions and is not up to the challenge of overthrowing President Bashar al-Assad, a prominent former member of the group has said. Assad, in a rare television interview, said he would need more time to defeat the rebels and dismissed talk of a Western-imposed buffer zone on Syrian territory as unrealistic. ... Full Story Top Second-quarter growth revised up, Fed still seen in play Wed,29 Aug 2012 04:58 PM PDT Reuters - WASHINGTON (Reuters) - The economy fared slightly better than initially thought in the second quarter, but the pace of growth remained too slow to shut the door on further monetary easing from the Federal Reserve. Gross domestic product expanded at a 1.7 percent annual rate, the Commerce Department said on Wednesday, as stronger export growth offset a pull-back in restocking by businesses wary of sluggish domestic demand. While that was an improvement on the government's first estimate of 1. ... Full Story Top Barclays says UK fraud unit starts investigation Wed,29 Aug 2012 10:23 AM PDT Reuters - LONDON (Reuters) - Barclays confirmed that the UK's fraud investigation unit, the Serious Fraud Office, has started an investigation into certain payments between the British bank and Qatar. The disclosure by the bank follows a report earlier on Wednesday which said that the SFO would open a probe into a matter already being investigated by Britain's Financial Services Authority. Barclays disclosed the FSA investigation in July. It relates to fees paid to the Qatar Investment Authority on deals in June and November 2008, when Barclays raised 11.5 billion pounds ($18 billion). ... Full Story Top New Orleans withstands Isaac's wrath, for now Wed,29 Aug 2012 03:20 PM PDT Reuters - NEW ORLEANS (Reuters) - Hurricane Isaac dumped heavy rains on the U.S. Gulf Coast and caused widespread flooding on Wednesday, but elaborate defenses built to protect New Orleans after the 2005 Hurricane Katrina disaster withstood the onslaught, officials said. The massive cyclone, which weakened to a tropical storm on Wednesday afternoon as it moved slowly into Louisiana, pushed water over a levy on the outskirts of New Orleans and threatened to flood oil refineries and towns in the state and neighboring Mississippi. ... Full Story Top Ryan promises he and Romney will lead America back Wed,29 Aug 2012 04:49 PM PDT Reuters - TAMPA, Florida (Reuters) - Republican vice presidential contender Paul Ryan promised on Wednesday that he and running mate Mitt Romney would lead America out of the economic doldrums by making tough choices that would generate jobs and strengthen the middle class. Ryan, a Wisconsin congressman, will accept his assignment as Romney's No. 2 at the Republican convention with the biggest speech of his political career - one designed to fire up conservatives while reaching out to independents still uncertain about the Republican team. "We will not duck the tough issues - we will lead. ... Full Story Top Three foreign soldiers killed by rogue Afghan soldier Wed,29 Aug 2012 04:49 PM PDT Reuters - KABUL (Reuters) - Three foreign soldiers were shot dead on Wednesday by a gunman wearing an Afghan army uniform in southern Afghanistan, the NATO-led coalition said, the latest in an alarming series of insider shootings which have damaged trust between the allies. "The incident is currently under investigation," the NATO-led International Security Assistance Force (ISAF) said in a Thursday statement giving no other details. NATO sources said the soldiers were killed in Uruzgan province, where around 1,500 Australian troops are based. ... Full Story Top Israel court tells settlers to evacuate outpost by Tuesday Wed,29 Aug 2012 11:30 AM PDT Reuters - JERUSALEM (Reuters) - Israel's high court ruled on Wednesday that the largest unauthorized Jewish settler outpost on occupied West Bank territory must be evacuated by next Tuesday. The court rejected an appeal by the settlers to delay the evacuation of Migron, a hilltop settlement of about 50 families, which a separate ruling a year ago decided was built on privately-owned Palestinian land. ... Full Story Top Tymoshenko loses appeal, stays in Ukraine jail Wed,29 Aug 2012 07:03 AM PDT Reuters - KIEV (Reuters) - A Ukrainian high court rejected an appeal on Wednesday by former Prime Minister Yulia Tymoshenko against her conviction for abuse of office, leaving her in jail and Ukraine's relations with the West severely strained. Tymoshenko's defense lawyer said the ruling by a three-judge panel had been steered by President Viktor Yanukovich for political reasons. "These findings have no relation to justice," Serhiy Vlasenko told journalists after judge Olexander Yelfimov ruled that lower courts had delivered "correct decisions on the crimes of Tymoshenko. ... Full Story Top U.N. nuclear watchdog team to examine Iran program Wed,29 Aug 2012 09:43 AM PDT Reuters - VIENNA (Reuters) - The U.N. nuclear watchdog is establishing a specialized team to inspect and investigate Iran's nuclear program, which diplomats say is expanding despite tough Western sanctions and the threat of an Israeli attack. The U.N. agency announced the establishment of an Iran Task Force shortly before it is expected to issue a report showing that the Islamic state has installed more than 300 new uranium enrichment machines in a fortified underground facility. ... Full Story Top Loss of radio contact prompts Amsterdam plane hijack scare Wed,29 Aug 2012 09:11 AM PDT Reuters - AMSTERDAM (Reuters) - The Netherlands intercepted a Spanish airliner with two fighter planes and then sent security forces to surround it on the tarmac at Amsterdam's airport in a hijack scare caused by a loss of radio contact. The plane, flown by Spanish carrier Vueling from Malaga in Spain to Amsterdam with about 180 passengers on board, had lost radio contact with air traffic control, a spokesman for the military police told Reuters. "There was no communication with the crew at all," Martijn Peelen, military police spokesman, said. ... Full Story Top Markets will wait for ECB silver bullet, but not for long Wed,29 Aug 2012 04:14 AM PDT Reuters - LONDON (Reuters) - Investors have put their faith in the European Central Bank's ability to get on top of the euro zone debt crisis and even if detailed plans take longer to materialize than expected, the momentum in financial markets may prevent an immediate meltdown. After Spanish borrowing costs spiked in late July, pushing the country towards a sovereign bailout which the euro zone can barely afford, ECB President Mario Draghi promised to "do whatever it takes" to preserve the euro. ... Full Story Top Barclays faces UK fraud probe on Qatar payments Wed,29 Aug 2012 11:10 AM PDT Reuters - LONDON (Reuters) - Britain's fraud prosecutors have launched a criminal probe into payments between Barclays and Qatar Holding, the British bank confirmed, adding to an ongoing regulatory investigation into dealings between the two parties. Barclays said on Wednesday that the UK's Serious Fraud Office (SFO) started an investigation into "payments under certain commercial agreements" between it and Qatar, confirming an earlier report. ... Full Story Top Big bets aim to jolt heart drug sales back to life Wed,29 Aug 2012 01:10 AM PDT Reuters - MUNICH (Reuters) - The expiry of patents on profitable heart medicines is soon going to erode one of the main sources of drug company profits, and risky bets on new medicines to replace them may not make up for the lost sales. High-octane salesmanship was still on show at giant trade stands during this week's European Society of Cardiology congress - the world's biggest heart meeting with 28,000 participants - but the razzmatazz hides a business in trouble. ... Full Story Top Hearing on Apple injunction vs Samsung set for December Tue,28 Aug 2012 07:48 PM PDT Reuters - SAN FRANCISCO (Reuters) - A U.S. judge on Tuesday set a December 6 court date to hear Apple Inc's request for a permanent injunction against Samsung Electronics' smartphones, which could delay the potential impact of Apple's crushing legal victory. Apple on Monday identified eight devices it will seek preliminary injunctions against, and said it would file for a permanent sales ban. A hearing about the preliminary injunctions had been scheduled for September 20 but it is not clear if this issue will be addressed at that hearing or moved to December. In an order on Tuesday, U.S. ... Full Story Top Red Cross halts most Pakistan aid after beheading Tue,28 Aug 2012 04:08 PM PDT Reuters - GENEVA (Reuters) - The International Committee of the Red Cross (ICRC) said on Tuesday it was halting most of its aid programs in Pakistan due to deteriorating security and the beheading of a British staff doctor in April blamed on Taliban insurgents. The independent agency, which had already suspended operations in three of Pakistan's four provinces in May pending a security assessment, said it would carry on working in the country "but on a reduced scale". "All relief and protection activities are being stopped. ... Full Story Top Analysis: China's aircraft carrier: in name only Tue,28 Aug 2012 02:01 PM PDT Reuters - (Reuters) - When Japanese activists scrambled ashore on a disputed island chain in the East China Sea this month, one of China's most hawkish military commentators proposed an uncharacteristically mild response. Retired Major General Luo Yuan suggested naming China's new aircraft carrier Diaoyu, after the Diaoyu islands in the East China Sea. It would demonstrate China's sovereignty over the islands known as the Senkakus in Japanese, he said. ... Full Story Top France opens murder inquiry into Arafat's 2004 death Tue,28 Aug 2012 12:31 PM PDT Reuters - PARIS (Reuters) - A French court has opened a murder inquiry into the death eight years ago of Palestinian leader Yasser Arafat, prosecutors said on Tuesday, following claims by his widow that he may have been poisoned. Arafat died in a Paris military hospital in November 2004, a month after being flown, seriously ill, from his battered headquarters in Ramallah, where he had been effectively confined by Israel for more than 2-1/2 years. Saeb Erekat, chief negotiator for the Palestinian Authority, welcomed the inquiry. ... Full Story Top Spanish recession darkens as country mulls bailout Tue,28 Aug 2012 11:34 AM PDT Reuters - MADRID (Reuters) - The Spanish economy is falling deeper into recession and depositors are pulling their money out of the banks, figures published on Tuesday showed, while the country's most economically important region, Catalonia, said it needed a major rescue from Madrid. Spain's recession grew stronger in the second quarter of the year and is expected to get worse as austerity measures introduced in response to the euro zone debt crisis cut into demand for goods and services. ... Full Story Top Draghi tells Germans ECB action needed for stability Wed,29 Aug 2012 07:58 AM PDT Reuters - FRANKFURT (Reuters) - The European Central Bank must employ "exceptional measures" at times to fulfil its mandate of delivering stable prices, ECB President Mario Draghi wrote in an opinion piece on Wednesday aimed at calming German angst about the bank's policy course. The ECB is drawing up a new bond-buying plan to lower the borrowing costs facing Spain and Italy, which Draghi is expected to detail after a September 6 policy meeting. Germany's Bundesbank - highly respected by German voters - opposes the plan. ... Full Story Top Iran denies plans to show nuclear sites to diplomats Tue,28 Aug 2012 05:06 AM PDT Reuters - DUBAI (Reuters) - Iran said on Tuesday it has no plans to show its nuclear sites to diplomats visiting Tehran for this week's Non-Aligned Movement (NAM) summit, despite an earlier offer by a deputy foreign minister. Iranian Deputy Foreign Minister Mohammad Mehdi Akhoundzadeh hinted on Monday that visiting NAM diplomats might be allowed to tour the Parchin military base, which the U.N. nuclear watchdog says may have been used for nuclear-related explosives trials. But Foreign Ministry spokesman Ramin Mehmanparast appeared to pour cold water on the idea. ... Full Story Top Syria refugee exodus raises pressure for buffer zone Tue,28 Aug 2012 08:14 AM PDT Reuters - ANKARA/BAB AL-SALAMEH, Syria - (Reuters) - Syria's refugee exodus is accelerating and up to 200,000 people could settle in Turkey alone if the conflict worsens, the United Nations warned on Tuesday, increasing pressure for creation of a buffer zone inside Syria. Turkey has floated the idea of a "safe zone" to be set up for civilians under foreign protection as fighting has intensified in a 17-month-old uprising against President Bashar al-Assad. ... Full Story Top Home prices gain again but consumer mood cools Tue,28 Aug 2012 08:49 AM PDT Reuters - NEW YORK (Reuters) - Home prices rose for the fifth consecutive month in June, a fresh sign of improvement as the recovery in the housing market picks up steam. But in a reminder of how fragile the broader economy remains, another measure of consumers' economic views released on Tuesday deteriorated in August to the lowest in nine months as Americans were more pessimistic about business and labor market prospects. The housing sector has been a bright spot, with the stabilization in prices since February suggesting the long-struggling market has finally turned a corner. ... Full Story Top Venezuela stamps out refinery blaze, eyes a restart Tue,28 Aug 2012 02:11 PM PDT Reuters - PARAGUANA, Venezuela (Reuters) - Venezuelan firefighters put out a blaze at the country's biggest oil refinery on Tuesday, paving the way for a restart of the facility and an investigation into the world's deadliest refinery accident in fifteen years. Energy Minister Rafael Ramirez has said the 645,000-barrel-per-day Amuay facility should restart within two days of the fire being extinguished. A pre-dawn blast on Saturday killed 48 people, wounded dozens and flattened hundreds of homes. U.S. ... Full Story Top Republicans nominate Romney at storm-hit convention Tue,28 Aug 2012 04:24 PM PDT Reuters - TAMPA, Florida (Reuters) - Republicans nominated Mitt Romney on Tuesday to challenge President Barack Obama for the White House, kicking off their storm-delayed convention with a barrage of sharp attacks on Obama's economic leadership. The formal nomination of Romney and his running mate, Paul Ryan, sets up a two-month final dash to the November 6 election. Opinion polls show Romney running even with or slightly behind the Democratic president. ... Full Story Top Hurricane Isaac to hit New Orleans, making landfall soon Tue,28 Aug 2012 03:55 PM PDT Reuters - NEW ORLEANS (Reuters) - Hurricane Isaac gathered strength as it bore down on New Orleans on Tuesday, bringing high winds and soaking rains that will pose the first major test to the city's multibillion-dollar flood protections, seven years after Katrina devastated the U.S. Gulf Coast. Hundreds of U.S. Army National Guard troops took up strategic positions around New Orleans, preparation meant to avoid the chaos seen in the days and weeks after Katrina in August 2005. ... Full Story Top Republicans nominate Romney as presidential candidate Tue,28 Aug 2012 04:07 PM PDT Reuters - TAMPA, Florida (Reuters) - Republicans formally nominated Mitt Romney as their presidential candidate on Tuesday to face Democratic President Barack Obama in the November 6 election. By voice vote in a raucous arena, delegates to the Republican National Convention united behind the former Massachusetts governor, who this year outlasted a series of conservative challengers to come out on top. Romney, 65, is in a close fight with Obama with 70 days to go until the election and Republicans hope he will gain some much-needed momentum from the Tampa convention this week. ... Full Story Top Home prices gain for fifth month in June: S&P Tue,28 Aug 2012 06:32 AM PDT Reuters - NEW YORK (Reuters) - Home prices rose more than expected in June, the fifth month in a row of gains in a fresh sign of improvement in the housing market, a closely watched survey showed on Tuesday. The S&P/Case Shiller composite index of 20 metropolitan areas gained 0.9 percent on a seasonally adjusted basis, topping economists' forecasts for 0.5 percent, according to a Reuters poll. On a non-seasonally adjusted basis, prices were even stronger, up 2.3 percent. ... Full Story Top Exclusive: Egypt's president rules out currency devaluation Tue,28 Aug 2012 01:53 AM PDT Reuters - CAIRO (Reuters) - Egypt's new president said on Monday he would not impose new taxes or devalue the country's currency and that his government would rely instead on investment, tourism and exports to fix an economy ravaged by a year and a half of political turmoil. Mohamed Mursi, 61, has a window of opportunity to push through economic change while he still commands political goodwill 50 days into his tenure as Egypt's first freely elected president, economists say. ... Full Story Top Obama warns of flooding from Tropical Storm Isaac Tue,28 Aug 2012 08:32 AM PDT Reuters - WASHINGTON (Reuters) - President Barack Obama warned residents of the Gulf Coast on Tuesday that there could be significant flooding from Tropical Storm Isaac and encouraged people to evacuate if instructed by authorities to do so. "As we prepare for Isaac to hit, I want to encourage all residents of the Gulf Coast to listen to your local officials and follow their directions, including if they tell you to evacuate," Obama said at the White House before departing on a two-day campaign trip. "Now is not the time to tempt fate, now is not the time to dismiss official warnings. ... Full Story Top Warplane attacks on Damascus suburbs kill 60: activists Mon,27 Aug 2012 03:52 PM PDT Reuters - AMMAN/ALEPPO (Reuters) - Syrian fighter planes made rare sorties on the outskirts of the capital Damascus, killing at least 60 people in its eastern suburbs, the same day a Syrian military helicopter crashed while under rebel fire, activists said. They said aerial attacks by at least two fighter planes late on Monday had targeted the neighborhood of Zemalka and the more easterly suburb of Saqba where Free Syrian Army fighters had attacked and overrun several army roadblocks earlier in the day. ... Full Story Top Arizona Republicans go to polls in primary Tue,28 Aug 2012 09:54 AM PDT Reuters - PHOENIX (Reuters) - Republicans in Arizona voted on Tuesday for their candidate in the race to replace Senator Jon Kyl, who is stepping down at the end of the year, with conservative U.S. Representative Jeff Flake favored to win. Flake was leading by a huge margin in opinion polls over Wil Cardon, a feisty political newcomer with deep pockets, in a primary election for a seat that Republicans need if they are to have a chance to take control of the Senate in the November election. The U.S. ... Full Story Top

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