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| Petraeus scandal widens, snares U.S. commander in Afghanistan Tuesday, Nov 13, 2012 05:44 PM PST  WASHINGTON (Reuters) - The scandal that felled CIA Director David Petraeus widened on Tuesday to snare the top U.S. commander in Afghanistan, Marine General John Allen, who was being investigated for "flirtatious" communications with a woman at the center of the case. Though a law enforcement probe has not uncovered any evidence so far of legal wrongdoing or security risks, it does raise questions about the unusually close relationship between a Florida socialite, her sister and two of the most powerful men in the United States' national security apparatus. ... Full Story | Top |
| Budget deficit rises to $120 billion in October Tuesday, Nov 13, 2012 01:52 PM PST  WASHINGTON (Reuters) - The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape. The Treasury said on Tuesday the October deficit was $120 billion, larger than economist forecasts for a $114 billion gap and up from $98 billion in October of 2011. Growth in expenditures outpaced rising receipts, deepening the deficit. Outlays grew to $304 billion from around $262 billion in the same month last year while receipts rose to $184 billion from $163 billion. ... Full Story | Top |
| Geithner warns against delaying solution to fiscal crisis Tuesday, Nov 13, 2012 04:23 PM PST  WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner on Tuesday warned against extending all the U.S. tax breaks to give Washington additional time to broker a deficit reduction deal, saying it would create more uncertainty in the markets. The Obama administration and Congress have seven weeks to deal with the so-called "fiscal cliff," a scenario in which hundreds of billions of dollars in tax hikes and spending cuts start to take effect next year, driving the economy into recession. ... Full Story | Top |
| Suspected North Korea missile parts seized en route to Syria in May Tuesday, Nov 13, 2012 10:12 PM PST UNITED NATIONS (Reuters) - A shipment of graphite cylinders usable in a missile program and suspected to have come from North Korea was found in May aboard a Chinese ship en route to Syria in what appears to have been a violation of U.N. sanctions, diplomats said on Tuesday. South Korean officials seized the shipment of 445 graphite cylinders, which had been declared as lead piping, from a Chinese vessel called the Xin Yan Tai, U.N. Security Council diplomats told Reuters on condition of anonymity. ... Full Story | Top |
| Insight: Red Cross response to Sandy fails to meet expectations Tuesday, Nov 13, 2012 09:13 PM PST  ROCKAWAY PARK, New York (Reuters) - Noreen Ellis begged the American Red Cross for help a few days after Superstorm Sandy slammed into the U.S. East Coast. A 90-year-old bedbound woman living on Ellis's block needed to be moved from the Rockaways, an eight-mile long, narrow spit of land in New York City, to a shelter with heat and electricity. "I said, 'This woman needs to be transported. Can you help?' And the Red Cross said, 'We don't do that,'" Ellis said. ... Full Story | Top |
| Amid Petraeus sex scandal, Air Force to release abuse report Tuesday, Nov 13, 2012 08:28 PM PST (Please note language in paragraphs 11 and 14) SAN ANTONIO (Reuters) - Already reeling from an embarrassing sex scandal involving former Army General David Petraeus, the U.S. military on Wednesday will release a report on widespread sexual abuse of women recruits at Lackland Air Force Base in Texas. The Air Force report is expected to provide details of systematic sexual abuse in the U.S. Air Force, a scandal that until last week was considered the worst in the military in more than a decade. ... Full Story | Top |
| Car bomb blasts kill at least 12 across Iraq: sources Tuesday, Nov 13, 2012 11:36 PM PST BAGHDAD (Reuters) - A series of car bomb blasts killed at least 12 people across Iraq early on Wednesday, police and hospital sources said. In the deadliest attack, four bombs planted in parked cars went off simultaneously in the city of Kirkuk, 250 km (155 miles) north of the capital Baghdad, killing seven people and wounding 24. (Reporting by Kareem Raheem; Writing by Ahmed Rasheed; Editing by Pravin Char) Full Story | Top |
| No surprises as China congress gives clues to new leadership Tuesday, Nov 13, 2012 11:05 PM PST  BEIJING (Reuters) - China's Communist Party congress offered the first clues on a generational leadership change on Wednesday as Xi Jinping and Li Keqiang took the first step to the presidency and premiership, respectively. In a brief dispatch, Xinhua news agency said Vice President Xi and Vice Premier Li had both been elected to the party's Central Committee at the end of a key congress, though that result was never really in any doubt. ... Full Story | Top |
| Long Island Power Authority CEO resigns in storm's aftermath Tuesday, Nov 13, 2012 06:35 PM PST NEW YORK (Reuters) - Michael Hervey, the embattled chief executive officer of the Long Island Power Authority, has resigned, according to a statement issued on Tuesday by Chairman Howard Steinberg. Hervey's resignation comes on the same day that New York Governor Andrew Cuomo launched an investigation by a special commission into the state's utilities and their response to Superstorm Sandy. More than two weeks after the storm struck the region, about 45,000 LIPA customers still have no electricity. (Reporting By Michelle Conlin; Editing by Edith Honan and Mohammad Zargham) Full Story | Top |
| France recognizes new Syria opposition Tuesday, Nov 13, 2012 10:29 PM PST  CAIRO/PARIS (Reuters) - France became the first European power to recognize Syria's new opposition coalition as the sole representative of its people and said on Tuesday it would look into arming rebels against President Bashar al-Assad once they form a government. Twenty months into their bloody uprising against Assad, fragmented Syrian opposition groups struck a deal in Qatar on Sunday to form a broad coalition and their leader immediately appealed for European backing. ... Full Story | Top |
| Colorado man charged with threatening to kill Obama Tuesday, Nov 13, 2012 07:50 PM PST DENVER (Reuters) - A Colorado man was charged on Tuesday in federal court with threatening to kill U.S. President Barack Obama during an October campaign visit, and court documents showed that he told investigators that he has had daily homicidal fantasies for years. Mitchell Kusick, 20, was ordered held on a charge of making threats against the president pending a bond hearing in U.S. District Court in Denver on Friday. A U.S. ... Full Story | Top |
| France recognizes new Syria opposition Tuesday, Nov 13, 2012 01:14 PM PST  CAIRO/PARIS (Reuters) - France became the first European power to recognize Syria's new opposition coalition as the sole representative of its people and said on Tuesday it would look into arming rebels against President Bashar al-Assad once they form a government. Twenty months into their bloody uprising against Assad, fragmented Syrian opposition groups struck a deal in Qatar on Sunday to form a broad coalition and their leader immediately appealed for European backing. ... Full Story | Top |
| Pentagon aims to wring savings out of more acquisition reforms Tuesday, Nov 13, 2012 06:06 PM PST WASHINGTON (Reuters) - The Pentagon on Tuesday released the next version of its "better buying power" initiative, saying the U.S. military needed to "wring every possible cent of value" from the dwindling dollars in the U.S. defense budget. Deputy Defense Secretary Ashton Carter said the first version of the initiative, launched in 2010 when he was the Pentagon's chief weapons buyer, had generated some savings, but there was more work to do. "We've tried things that have worked, we've tried things that haven't worked. We've learned," he told a news conference. ... Full Story | Top |
| Analysis: For Obama, scandal complicates moves on Cabinet, national security Tuesday, Nov 13, 2012 04:27 PM PST  WASHINGTON (Reuters) - A week after winning a second term, President Barack Obama faces a widening scandal within his national security team that complicates plans to reshape his Cabinet and could reverberate through decisions on the war in Afghanistan, the fight against al Qaeda and efforts to prevent Iran from getting a nuclear bomb. The White House sought on Tuesday to limit the fallout from an FBI probe that led to the resignation of CIA director David Petraeus because of an extramarital affair, and now involves General John Allen, the top U.S. commander in Afghanistan. U.S. ... Full Story | Top |
| Exclusive: AMD hires bank to explore options - sources Tuesday, Nov 13, 2012 07:36 PM PST  NEW YORK/SAN FRANCISCO (Reuters) - Advanced Micro Devices has hired JPMorgan Chase & Co to explore options, which could include a sale, as the chipmaker struggles to find a role in an industry increasingly focused on mobile devices and away from traditional PCs, according to three sources familiar with the situation. Sources told Reuters on Tuesday that an outright sale of the company is not the main option, and other choices could include a sale of its portfolio of patents. The company's stock surged 18 percent on the news before ending up 5 percent at $2.09 on the New York Stock Exchange. ... Full Story | Top |
| Russia trade, human rights bill advances in U.S. Congress Tuesday, Nov 13, 2012 04:42 PM PST WASHINGTON (Reuters) - A bill that would upgrade U.S. trade relations with Russia while also punishing Russian officials for human rights violations cleared a legislative hurdle on Tuesday on its way to expected approval in the House of Representatives later this week. The House Rules Committee approved a plan to combine legislation to establish "permanent normal trade relations" (PNTR) with Russia with a separate human rights measure strongly opposed by Moscow. ... Full Story | Top |
| Former Washington, D.C. council head sentenced for bank fraud Tuesday, Nov 13, 2012 01:16 PM PST WASHINGTON (Reuters) - The former No. 2 official in the Washington city government was sentenced to home arrest, probation and community service on Tuesday on a bank fraud charge, the latest stage in financial scandals involving local officials in the U.S. capital. Kwame Brown, 42, a Democrat who had been the City Council chairman, pleaded guilty in June to a federal charge of overstating his income in applying for bank loans in 2005 and 2007. U.S. ... Full Story | Top |
| Petraeus scandal widens, snares U.S. commander in Afghanistan Tuesday, Nov 13, 2012 12:03 PM PST WASHINGTON (Reuters) - The scandal involving former CIA Director David Petraeus widened on Tuesday as U.S. defense officials said they were looking into "flirtatious" e-mails between General John Allen, the top U.S. commander in Afghanistan, and a woman at the center of the affair. Defense Department officials said they were sifting through 30,000 pages of email and other communications between Allen and Jill Kelley, a Florida socialite whose complaints about harassing messages led to the discovery of Petraeus' affair with his biographer. The revelation threatens to fell another of the U.S. ... Full Story | Top |
| Microsoft's Windows head, once a possible CEO, exits Tuesday, Nov 13, 2012 05:32 AM PST  SEATTLE (Reuters) - The executive most widely tipped to be the next chief executive of Microsoft Corp has left the world's largest software maker barely two weeks after launching the flagship Windows 8, as CEO Steve Ballmer moved to tighten his grip on the company. The exit of 23-year veteran Steven Sinofsky, head of Microsoft's Windows unit, is the latest - and most prominent - in a line of high-profile departures from the Redmond, Washington-based company, which is struggling to keep pace with Apple Inc and Google Inc in mobile computing. ... Full Story | Top |
| Exclusive: Peugeot and Opel halt talks on further tie-up Tuesday, Nov 13, 2012 10:54 AM PST  LONDON/FRANKFURT/PARIS (Reuters) - General Motors and alliance partner PSA Peugeot Citroen have halted talks on a deeper tie-up amid misgivings about the French carmaker's worsening finances and government-backed bailout, people familiar with the matter said. The companies, already pursuing an operational partnership announced in February, had also been exploring a full combination of Peugeot with GM's European unit Opel, which is based in Germany. ... Full Story | Top |
| Exclusive: AMD hires bank to explore options - sources Tuesday, Nov 13, 2012 03:23 PM PST NEW YORK/SAN FRANCISCO (Reuters) - Advanced Micro Devices has hired JPMorgan Chase & Co to explore options, which could include a sale, as the chipmaker struggles to find a role in an industry increasingly focused on mobile and away from traditional PCs, according to three sources familiar with the situation. The company's stock surged 18 percent on the news before ending up 5 percent at $2.09 on the New York Stock Exchange. Sources told Reuters on Tuesday that an outright sale of the company is not a priority, and other options for AMD could include a sale of its portfolio of patents. ... Full Story | Top |
| Marty Baron to take top news job at Washington Post Tuesday, Nov 13, 2012 10:08 AM PST  (Reuters) - The Washington Post named Marty Baron executive editor, effective January 2, 2013, the newspaper said on Tuesday. Baron, currently the top editor of the Boston Globe, will succeed Marcus Brauchli, who has been in the post since 2008. Baron will be the paper's third editor over the span of 22 years. Prior to Brauchli, the newsroom was led by long-time editor Leonard Downie Jr. "We are thrilled to have Marty Baron lead the Washington Post's newsroom," Publisher Katharine Weymouth, whose family controls the paper, said in a statement. ... Full Story | Top |
| UK regulator to probe HSBC Tuesday, Nov 13, 2012 10:44 AM PST  JERSEY (Reuters) - Jersey's financial watchdog is to probe anti-money laundering systems and controls at HSBC, following a report that Europe's biggest bank was harboring money for convicted criminals. Britain's Daily Telegraph newspaper said on Friday it had been handed leaked data that identified 4,388 British-based people holding 699 million pounds ($1.1 billion) in current accounts, including celebrities and bankers. Jersey's Financial Services Commission said on Tuesday it was to investigate "the matters raised by the press, including how the misappropriation of data occurred". ... Full Story | Top |
| U.S. warns against kicking fiscal crisis down the road Tuesday, Nov 13, 2012 02:53 PM PST WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner on Tuesday warned against extending all the U.S. tax breaks to give Washington additional time to broker a deficit reduction deal, saying it would create more uncertainty in the markets. Seven weeks are left for the Obama administration and Congress to deal with the so-called fiscal cliff, or $600 billion worth of tax hikes and spending cuts that will go into effect next year and may trigger a recession if Washington does nothing. ... Full Story | Top |
| Businesses turn to tax fight, some stung by Romney bets Tuesday, Nov 13, 2012 08:16 AM PST  WASHINGTON (Reuters) - As major U.S. businesses dive into the Washington tax policy debate now that the presidential election is over, some are finding themselves in an awkward position after betting heavily on Mitt Romney. The Republican, who lost in last week's vote, was backed overwhelmingly not only by Wall Street, but also by the oil and gas, agribusiness, construction, private equity and transportation sectors, according to data from the Center for Responsive Politics. ... Full Story | Top |
| Microsoft and Google financials could surface at Seattle trial Tuesday, Nov 13, 2012 12:02 AM PST  (Reuters) - Microsoft and Google's Motorola Mobility unit are set to square off on Tuesday at a trial with strategic implications for the smartphone patent wars and which could reveal financial information the two companies usually keep under wraps. The proceeding in a Seattle federal court will determine how much of a royalty Microsoft Corp should pay Google Inc for a license to some of Motorola's patents. Google bought Motorola for $12.5 billion, partly for its library of communications patents. If U.S. ... Full Story | Top |
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