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Saturday, August 4, 2012 12:00 AM PDT

Today's Reuters News Headlines - Yahoo! News: Exclusive: Fired Barclays trader draws scrutiny in Libor probe Apple's Jobs was open to making a smaller iPad: executive Syrian army moves on rebels in Aleppo, Damascus Judge releases nun who broke into U.S. nuclear bomb facility Hiring picks up but not enough to sideline Fed U.S., Pakistan appear to make little headway in spy meet U.S. set to start program sparing young illegal immigrants deportation No escape from slump for Europe's top economies in July China to hold Gu Kailai murder trial on Aug. 9: sources Buyers eye Knight Capital as some customers return Apple's Jobs was open to making smaller iPad: executive Syrian army moves on rebels in Aleppo, Damascus U.S. hiring picks up but not enough to sideline Fed U.S. nuclear bomb facility shut after security breach Suicide bomber kills self, wounds 9 in Kenya: police Pension debt overwhelms bankrupt San Bernardino, California Six killed in Mexico coal mine explosion Knight trading loss shows cracks in equity markets Pakistan Supreme Court throws out law designed to protect premier Jobs seen weak in July, may help push Fed to act U.S. nuclear bomb facility shut after security breach Senate approves new ambassador to Afghanistan Procter & Gamble profit tops forecast, plans buybacks U.S. nuclear bomb facility shut after security breach Facebook shares dive as deadline for insider sales nears Analysis: NBC offers peek of future Olympics biz model, coverage Senate panel passes tax bill in rare bipartisan show Syria banks face deposit challenge as civil war expands ECB signals may buy euro zone bonds Hopes fade for new U.S. cybersecurity law in 2012 Iraq seeking Russian air defense gear: official Frustrated Annan quits as Syria peace envoy Knight's future in balance after trading disaster Economic data underscores weakening activity Apple seeks severe punishment for Samsung lawyer's actions Cairo asks U.S. to free last Egyptian at Guantanamo Drought worsens in U.S. farm states-climatologists Afghan forces thwart insurgent attack on Kabul U.S. raises pressure for euro zone crisis action BoE policy on hold for now as UK economy worsens Exclusive: Fired Barclays trader draws scrutiny in Libor probe Fri,3 Aug 2012 04:17 PM PDT Reuters - (Reuters) - A 30-year-old former Barclays Plc swaps trader in New York, who was fired from the bank in 2010, is among those drawing scrutiny from prosecutors in the deepening scandal over the manipulation of global benchmark interest rates. U.S. prosecutors in Washington, D.C. are looking at Ryan Reich's activities while at Barclays between August 2006 and March 2010, said several people familiar with the situation, who declined to be identified because the bid-rigging investigation is ongoing. ... Full Story Top Apple's Jobs was open to making a smaller iPad: executive Fri,3 Aug 2012 06:28 PM PDT Reuters - SAN JOSE, California (Reuters) - Steve Jobs was receptive to Apple Inc making a smaller tablet, a senior executive said in a 2011 email revealed on Friday, fanning speculation it plans to make a mini-iPad to take on cheaper gadgets from Google Inc and Amazon. An Apple mini-version of the market-dominating 10-inch iPad could counter increasing inroads made by tablets such as the Kindle Fire and Nexus 7. But the company has never confirmed the intensifying talk of such a launch. ... Full Story Top Syrian army moves on rebels in Aleppo, Damascus Fri,3 Aug 2012 06:04 PM PDT Reuters - ALEPPO, Syria (Reuters) - Syrian forces stormed the last rebel stronghold in the capital Damascus in tanks and armored vehicles on Friday and blasted artillery at rebels in Aleppo, where the United Nations said the army was preparing a massive assault. The violence came within hours of former United Nations Secretary-General Kofi Annan quitting as international peace envoy for Syria, underlining the impotence of mediation efforts in the 17-month-old uprising against President Bashar al-Assad. A senior U.N. ... Full Story Top Judge releases nun who broke into U.S. nuclear bomb facility Fri,3 Aug 2012 05:20 PM PDT Reuters - KNOXVILLE, Tennessee (Reuters) - A U.S. magistrate judge on Friday ordered the release pending trial of an 82-year-old nun and another anti-nuclear activist charged with breaching security fences at one of the most sensitive U.S. nuclear facilities, in Oak Ridge, Tennessee, where weapons-grade uranium is kept. The security failure was an embarrassment for the National Nuclear Security Administration, or NNSA, the Energy Department branch that operates U.S. ... Full Story Top Hiring picks up but not enough to sideline Fed Fri,3 Aug 2012 05:56 PM PDT Reuters - WASHINGTON (Reuters) - Employers hired the most workers in five months in July, but an increase in the jobless rate to 8.3 percent kept prospects of further monetary stimulus from the Federal Reserve on the table. Nonfarm payrolls rose 163,000 last month, the Labor Department said on Friday, breaking three straight months of job gains below 100,000 and offering hope for the ailing economy. "It's a relief we did not post another number like 75,000, but the reality is it's not night and day. ... Full Story Top U.S., Pakistan appear to make little headway in spy meet Fri,3 Aug 2012 03:15 PM PDT Reuters - WASHINGTON (Reuters) - U.S. and Pakistani spy chiefs exchanged grievances in their first official meeting this week, sources familiar with the discussions said on Friday, but it was unclear if the two uneasy allies made any progress to end deep divisions on militants living in Pakistani tribal areas or on U.S. drone strikes. Lieutenant-General Zaheer ul-Islam, who was named in March to head the Inter-Services Intelligence (ISI), on his first official visit to Washington met on Thursday with CIA Director David Petraeus at CIA headquarters. ... Full Story Top U.S. set to start program sparing young illegal immigrants deportation Fri,3 Aug 2012 02:15 PM PDT Reuters - WASHINGTON (Reuters) - Young illegal immigrants - many of whom have spent much of their lives attending schools in the United States - will be able to begin emerging from their uncertain status on August 15 when the Obama administration begins letting them apply to stay temporarily. An estimated 800,000 young undocumented residents could qualify for the program that would grant deportation deferrals of at least two years for those who are approved. ... Full Story Top No escape from slump for Europe's top economies in July Fri,3 Aug 2012 01:29 PM PDT Reuters - LONDON (Reuters) - Europe's biggest economies endured another torrid month in July as businesses battled slumping demand, according to surveys on Friday that gave scant hope the region will emerge any time soon from a malaise induced by a paralyzing debt crisis. Purchasing managers indexes (PMIs), which gauge business activity and have a good record of tracking economic growth, showed order books at euro zone companies shriveled last month as a downturn in Germany and France became more entrenched. ... Full Story Top China to hold Gu Kailai murder trial on Aug. 9: sources Fri,3 Aug 2012 09:02 AM PDT Reuters - BEIJING (Reuters) - China will open the murder trial of Gu Kailai, the wife of ousted Communist Party Politburo member Bo Xilai, on August 9, two sources said on Friday, a case at the center of a scandal that has rocked the government and could bring Gu the death penalty. Both sources requested anonymity, citing the sensitivity of the case, and provided no other details. China only last week formally announced Gu's indictment on charges of murdering a British man in November. ... Full Story Top Buyers eye Knight Capital as some customers return Fri,3 Aug 2012 01:17 PM PDT Reuters - (Reuters) - Struggling Knight Capital Group Inc's future remained in flux on Friday, with major clients saying they would resume trading with the company, while potential buyers were still combing through the company's books with an eye toward a deal. Customers including TD Ameritrade and Scottrade, said they would return business to Knight, the nation's largest retail market maker of U.S. stocks. Still, the firm's trading volumes remained below usual levels on Friday. ... Full Story Top Apple's Jobs was open to making smaller iPad: executive Fri,3 Aug 2012 03:53 PM PDT Reuters - SAN JOSE, California (Reuters) - Steve Jobs was receptive to Apple Inc making a smaller tablet, a senior executive said in a 2011 email revealed on Friday, fanning speculation that Apple plans to make a mini-iPad and take on Google and Amazon products. Vice President Eddy Cue urged then-chief operating officer Tim Cook in January 2011 to build a 7-inch tablet, according to an email from Cue that Samsung Electronics introduced as evidence in a U.S. patent trial. ... Full Story Top Syrian army moves on rebels in Aleppo, Damascus Fri,3 Aug 2012 03:23 PM PDT Reuters - ALEPPO, Syria (Reuters) - Syrian forces stormed the last rebel stronghold in the capital Damascus in tanks and armored vehicles on Friday and blasted artillery at rebels in Aleppo, where the United Nations said the army was preparing a massive assault. The violence came within hours of former United Nations Secretary-General Kofi Annan quitting as international peace envoy for Syria, underlining the impotence of mediation efforts in the 17-month-old uprising against President Bashar al-Assad. A senior U.N. ... Full Story Top U.S. hiring picks up but not enough to sideline Fed Fri,3 Aug 2012 02:12 PM PDT Reuters - WASHINGTON (Reuters) - U.S. employers hired the most workers in five months in July, but an increase in the jobless rate to 8.3 percent kept prospects of further monetary stimulus from the Federal Reserve on the table. Nonfarm payrolls rose 163,000 last month, the Labor Department said on Friday, breaking three straight months of job gains below 100,000 and offering hope for the ailing economy. "It's a relief we did not post another number like 75,000, but the reality is it's not night and day. ... Full Story Top U.S. nuclear bomb facility shut after security breach Fri,3 Aug 2012 01:48 PM PDT Reuters - WASHINGTON (Reuters) - The U.S. government's only facility for handling, processing and storing weapons-grade uranium has been temporarily shut after anti-nuclear activists, including an 82-year-old nun, breached security fences, government officials said on Thursday. WSI Oak Ridge, the contractor responsible for protecting the facility at Oak Ridge, Tennessee, is owned by the international security firm G4S, which was at the center of a dispute over security at the London Olympic Games. ... Full Story Top Suicide bomber kills self, wounds 9 in Kenya: police Fri,3 Aug 2012 12:40 PM PDT Reuters - NAIROBI (Reuters) - A suspected suicide bomber killed himself and wounded nine people when he detonated a grenade near a military air base in Nairobi on Friday, police said, in the latest such attack since Kenya's military foray into neighboring Somalia. The incident occurred in a Somali-dominated area, and police said the attacker had intended to blow up a group of soldiers near the perimeter of the air base. All but one of the wounded were civilian bystanders, police said. ... Full Story Top Pension debt overwhelms bankrupt San Bernardino, California Thu,2 Aug 2012 04:53 PM PDT Reuters - LOS ANGELES (Reuters) - San Bernardino, the third California city to seek bankruptcy protection since June, is saddled with huge pension debt and will produce details of those unfunded obligations within 15 days, its mayor said on Thursday. The city filed for bankruptcy protection on Wednesday, citing over $1 billion in estimated liabilities and up to 25,000 creditors, many of whom are the city's own employees. The city, 65 miles east of Los Angeles, also listed estimated assets as over $1 billion. Patrick J. ... Full Story Top Six killed in Mexico coal mine explosion Fri,3 Aug 2012 04:57 PM PDT Reuters - MEXICO CITY (Reuters) - Six miners were killed in a coal mine collapse in the northern Mexican state of Coahuila on Friday, an emergency rescue team source on the site told Reuters. One miner was rescued earlier, according to a separate report from the mine operator. The explosion was triggered when a large amount of methane gas ignited, causing the collapse of 100 tonnes of coal, mine owner Altos Hornos de Mexico (AHMSA) said in a statement. Nearly 300 miners evacuated the mine without incident, the company said. ... Full Story Top Knight trading loss shows cracks in equity markets Fri,3 Aug 2012 09:08 AM PDT Reuters - (Reuters) - The software glitch that cost Knight Capital Group $440 million in just 45 minutes reveals the deep fault lines in stock markets that are increasingly dominated by sophisticated high-speed trading systems. But Wall Street firms and regulators have few easy solutions for such problems. Automated trading can handle massive volumes of transactions in milliseconds, something human traders could never do. ... Full Story Top Pakistan Supreme Court throws out law designed to protect premier Fri,3 Aug 2012 05:51 AM PDT Reuters - ISLAMABAD (Reuters) - Pakistan's Supreme Court on Friday struck down a law designed to protect the new prime minister from being charged with contempt and thrown out of office like his predecessor. The ruling was the latest twist in a long-running saga that pits the country's judiciary against its ruling party, a showdown that many analysts say endangers Pakistan's fragile democracy. The court ousted the previous prime minister, Yousuf Raza Gilani, from office in June by charging him with contempt of court for failing to reopen corruption proceedings against President Asif Zardari. ... Full Story Top Jobs seen weak in July, may help push Fed to act Thu,2 Aug 2012 09:11 PM PDT Reuters - WASHINGTON (Reuters) - U.S. employment probably only inched up in July as the economy struggled to regain momentum, strengthening expectations of additional monetary stimulus from the Federal Reserve. Nonfarm payrolls likely rose 100,000 last month, according to a Reuters survey, after gaining 80,000 in June. The closely watched employment report comes two days after the U.S. central bank sent a stronger signal that a new round of major support could be on the way if the faltering recovery does not pick up. ... Full Story Top U.S. nuclear bomb facility shut after security breach Fri,3 Aug 2012 04:56 AM PDT Reuters - WASHINGTON (Reuters) - The U.S. government's only facility for handling, processing and storing weapons-grade uranium has been temporarily shut after anti-nuclear activists, including an 82-year-old nun, breached security fences, government officials said on Thursday. WSI Oak Ridge, the contractor responsible for protecting the facility at Oak Ridge, Tennessee, is owned by the international security firm G4S, which was at the center of a dispute over security at the London Olympic Games. ... Full Story Top Senate approves new ambassador to Afghanistan Thu,2 Aug 2012 07:14 PM PDT Reuters - WASHINGTON (Reuters) - The Senate on Thursday confirmed career diplomat James Cunningham as ambassador to Afghanistan, replacing Ryan Crocker, who stepped down because of ill health. Cunningham has been serving as deputy ambassador at the U.S. embassy in Kabul since June 2011. Earlier, he was the U.S. ambassador to Israel; he also held senior U.S. posts in Hong Kong, NATO and the United Nations. He was confirmed on a voice vote. Crocker said in May that he was leaving the demanding Kabul post for health reasons after a long career in Iraq, Afghanistan, Pakistan, Syria, Kuwait and Lebanon. ... Full Story Top Procter & Gamble profit tops forecast, plans buybacks Fri,3 Aug 2012 09:33 AM PDT Reuters - (Reuters) - Procter & Gamble Co posted a higher-than-expected quarterly profit despite a drop in sales, as the world's largest household products maker tries to prove that it can make the improvements needed to move past recent disappointments. The maker of Tide laundry detergent, Olay skin cream and a host of other products also reversed course by announcing a $4 billion share repurchase program just weeks after saying it would not buy back shares this year. ... Full Story Top U.S. nuclear bomb facility shut after security breach Thu,2 Aug 2012 03:50 PM PDT Reuters - WASHINGTON (Reuters) - The U.S. government's only facility for handling, processing and storing weapons-grade uranium has been temporarily shut after anti-nuclear activists, including an 82-year-old nun, breached security fences, government officials said on Thursday. WSI Oak Ridge, the contractor responsible for protecting the facility at Oak Ridge, Tennessee, is owned by the international security firm G4S, which was at the center of a dispute over security at the London Olympic Games. ... Full Story Top Facebook shares dive as deadline for insider sales nears Thu,2 Aug 2012 03:08 PM PDT Reuters - SAN FRANCISCO (Reuters) - Facebook shares crumbled again on Thursday, sending the once-feverishly sought-after name below $20 for the first time as investors scrambled to get out of the way of a potential share deluge in coming weeks. Thursday marked a five-day losing streak for the stock. Facebook has shed almost $50 billion in value since its debut -- more than the total valuation of Hewlett-Packard Co or Starbucks Corp. The stock debuted at $38 and has headed south since, pummeled by growing doubts about its lofty valuation, growth prospects, high-profile departures. ... Full Story Top Analysis: NBC offers peek of future Olympics biz model, coverage Thu,2 Aug 2012 05:21 PM PDT Reuters - NEW YORK (Reuters) - NBC briefly tore down the digital wall protecting its Olympics coverage on Thursday and permitted consumers without a pay TV subscription to watch live online a much-anticipated race starring American swimmers Michael Phelps and Ryan Lochte. The move was aimed at appeasing critics of NBC's strategy of delaying broadcasts of major Olympics events for prime time or requiring a cable subscription for online streaming - and could foreshadow how the Comcast Corp-owned network might handle its coverage of future Games. ... Full Story Top Senate panel passes tax bill in rare bipartisan show Thu,2 Aug 2012 02:11 PM PDT Reuters - WASHINGTON (Reuters) - Senate tax writers approved a $205 billion package of tax breaks in a rare show of bipartisan unity on Thursday, but across Capitol Hill in the House of Representatives, sniping over taxes between Democrats and Republicans was in full force. Hours before leaving for a five-week break, the Senate Finance Committee passed legislation including a $15 billion business research tax break. It also contained a popular $132 billion provision to prevent the alternative minimum tax, targeted at the rich, from hitting the middle class. ... Full Story Top Syria banks face deposit challenge as civil war expands Thu,2 Aug 2012 08:48 PM PDT Reuters - AMMAN/DUBAI (Reuters) - Now that rebels have carried Syria's civil war from remote villages to the capital and the commercial hub, a banking system that survived 16 months of unrest will face its biggest test. In most of the country, banks have been managing to stay open, thanks to strenuous efforts by their managers and the needs of desperate customers who continue to deposit money because they can find no safer place. ... Full Story Top ECB signals may buy euro zone bonds Thu,2 Aug 2012 10:47 AM PDT Reuters - FRANKFURT (Reuters) - The European Central Bank indicated on Thursday it may again start buying government bonds to reduce crippling Spanish and Italian borrowing costs but the conditions it set and the dissenting voice of its key German member disappointed markets. In the latest move to contain the euro zone crisis, ECB President Mario Draghi indicated that any intervention would not come before September - and only if governments activated the euro zone's bail-out funds to join the ECB in buying bonds. "The Governing Council ... ... Full Story Top Hopes fade for new U.S. cybersecurity law in 2012 Thu,2 Aug 2012 12:11 PM PDT Reuters - WASHINGTON (Reuters) - Despite growing concerns of the threat of cyber attacks, chances of a new U.S. cybersecurity law passing this year faded Thursday as Senate Republicans blocked a bill that would let the government and companies share information about attacks on computer networks. The measure had been viewed as one of the few that might draw enough bipartisan support to get through the largely deadlocked Congress. Experts say there is an urgent need to address vulnerabilities of government and private systems controlling everything from highway traffic to financial services. ... Full Story Top Iraq seeking Russian air defense gear: official Thu,2 Aug 2012 11:47 AM PDT Reuters - BAGHDAD (Reuters) - Iraq's acting defense minister is in Russia negotiating the purchase of air surveillance equipment to help Iraq rebuild its crippled military defenses, a lawmaker said on Thursday. American troops pulled out of Iraq in December, leaving the war-battered country to defend its own borders and airspace for the first time since it was occupied in 2003. Under Saddam Hussein, Iraq's air force was one of the largest in the region with hundreds of mainly Soviet-designed jets. But its military was disbanded after the U.S.-led invasion in 2003 deposed of Saddam. ... Full Story Top Frustrated Annan quits as Syria peace envoy Thu,2 Aug 2012 04:20 PM PDT Reuters - UNITED NATIONS/ALEPPO, Syria (Reuters) - Former U.N. Secretary-General Kofi Annan is quitting as international peace envoy for Syria, frustrated by "finger-pointing" at the United Nations while the armed rebellion against President Bashar al-Assad becomes increasingly bloody. As battles raged on Thursday in Syria's second city, Aleppo, between rebel fighters and government forces using war planes and artillery, U.N. Secretary-General Ban Ki-moon announced in New York that Annan had said he would go at the end of the month. ... Full Story Top Knight's future in balance after trading disaster Thu,2 Aug 2012 04:49 PM PDT Reuters - NEW YORK (Reuters) - Knight Capital Group Inc fought for survival on Thursday after a $440 million trading loss caused by a software glitch wiped out much of its capital, forcing Knight to seek new funding as its shares plunged as much as 80 percent in two days. Many of the company's biggest customers, including TD Ameritrade, the No. 1 U.S. retail brokerage by trading volume, and fund giants Vanguard and Fidelity Investments, stopped routing orders through Knight. One of the biggest fears is that the company will collapse, landing trading partners with losses. ... Full Story Top Economic data underscores weakening activity Thu,2 Aug 2012 09:07 AM PDT Reuters - WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits rose last week and manufacturers suffered an unexpected drop in orders in June, suggesting the economy is struggling to break out of a soft patch. The economy has lost momentum in recent months, hurt by fears of higher taxes and sharp government spending cuts next year and ongoing debt problems in Europe. Factory activity has cooled and job growth has braked sharply. "The data evidence has been disappointing on a lot of fronts. ... Full Story Top Apple seeks severe punishment for Samsung lawyer's actions Thu,2 Aug 2012 09:53 AM PDT Reuters - SAN FRANCISCO (Reuters) - Apple Inc asked a U.S. judge on Thursday to punish Samsung Electronics Co Ltd for a Samsung attorney's conduct by ordering that the South Korean company has infringed Apple's phone design patents, according to a court filing. Trial began this week in high stakes litigation between the two companies. Apple sued Samsung last year in San Jose, California federal court, accusing Samsung of copying the iPhone and iPad. Samsung has countersued. U.S. District Judge Lucy Koh on Tuesday had barred Samsung's attorneys from presenting some evidence during opening statements. ... Full Story Top Cairo asks U.S. to free last Egyptian at Guantanamo Thu,2 Aug 2012 10:15 AM PDT Reuters - CAIRO (Reuters) - Egypt has asked the United States to free an Egyptian held at Guantanamo Bay since 2001 and who had been charged with backing terrorist groups in Afghanistan, the Foreign Ministry said on Thursday. It was the latest move by the Muslim Brotherhood-led administration to secure freedom for Egyptians jailed for Islamist militancy at home and abroad in the few weeks since President Mohamed Mursi was sworn in. ... Full Story Top Drought worsens in U.S. farm states-climatologists Thu,2 Aug 2012 10:07 AM PDT Reuters - (Reuters) - The worst U.S. drought in 56 years intensified over the past week as above-normal temperatures and scant rainfall parched corn and soybean crops across the Midwest and central Plains, a report from climate experts said on Thursday. The drought became more severe in the southern United States as well, just a year removed from a record-breaking dry spell that ruined crops and wilted grazing pastures across Texas and Oklahoma enough to force an unprecedented northward migration of cattle. ... Full Story Top Afghan forces thwart insurgent attack on Kabul Thu,2 Aug 2012 05:26 AM PDT Reuters - KABUL (Reuters) - Afghan security forces killed five insurgents and wounded one during a pre-dawn raid in Kabul on Thursday, with authorities saying they had thwarted a mass attack and captured intelligence pointing to the militant Haqqani network. Soldiers from Afghanistan's spy agency, the National Directorate of Security (NDS), launched the raid just after midnight, entering a single-story house compound on the fringes of Kabul which the insurgents were using as a base. ... Full Story Top U.S. raises pressure for euro zone crisis action Thu,2 Aug 2012 03:12 AM PDT Reuters - FRANKFURT/BERLIN (Reuters) - The United States raised the pressure on euro zone leaders to take decisive action on solving the region's debt crisis, notably by lowering troubled members' borrowing costs, on the eve of a crucial European Central Bank meeting. President Barack Obama said he welcomed recent declarations by European leaders and the ECB on the need to do whatever is necessary to preserve the euro. U.S. ... Full Story Top BoE policy on hold for now as UK economy worsens Thu,2 Aug 2012 08:24 AM PDT Reuters - LONDON (Reuters) - The Bank of England decided it was too soon on Thursday to step up efforts to bolster Britain's recession-hit economy, although future action looks increasingly likely as growth shows little sign of rebounding after a dismal few months. Britain's economy tipped into its second recession in four years at the end of 2011, and a multi-year austerity program to close the country's vast budget deficit is weighing both on consumer morale and the government's popularity. ... Full Story Top

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