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| Egypt's top court shuts down, blames protesters Sunday, Dec 02, 2012 09:18 PM PST  CAIRO (Reuters) - Protests by Islamists allied to President Mohamed Mursi forced Egypt's highest court to adjourn its work indefinitely on Sunday, intensifying a conflict between some of the country's top judges and the head of state. The Supreme Constitutional Court said it would not convene until its judges could operate without "psychological and material pressure", saying protesters had stopped the judges from reaching the building. ... Full Story | Top |
| Geithner predicts Republicans will yield on taxes Sunday, Dec 02, 2012 12:25 PM PST  WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner pushed Republicans on Sunday to offer specific ideas to cut the deficit, and predicted that they would agree to raise tax rates on the rich to obtain a year-end deal and avoid possible economic doom. But the top U.S. Republican, Speaker of the U.S. House of Representatives John Boehner, stood firm and renewed his stand against increased tax rates, leaving talks at a stalemate. "Here's the problem," Boehner told "Fox News Sunday" as both sides took their battle to TV talks shows. ... Full Story | Top |
| Analysis: In U.S. "fiscal cliff" maneuvers it's all about the holiday Sunday, Dec 02, 2012 10:03 PM PST  WASHINGTON (Reuters) - Watching the events of the past few weeks, you could have gotten the idea that the United States is not only going to slip from the "fiscal cliff" but jump lemming-like off it. President Barack Obama presented last week a proposal that upset Republicans with its $1.6 trillion in revenue increases and limited spending cuts and then goaded them while on the road at a toy factory with jokes meant to paint the Republicans as Scrooges. His main Republican sparring partner, Speaker of the U.S. ... Full Story | Top |
| Greece set to unveil terms of crucial bond buyback Sunday, Dec 02, 2012 11:33 PM PST  ATHENS (Reuters) - Greece will unveil details of a bond buyback crucial to efforts by foreign lenders to trim the country's ballooning debt, hoping the terms will draw enough investors and unblock vital aid. Since plans for the buyback were announced last week, questions have swirled about whether it will tempt enough bondholders to cut Greek debt by a net 20 billion euros. ... Full Story | Top |
| Factory surveys show China reviving, global rebound fragile Sunday, Dec 02, 2012 09:38 PM PST  BEIJING (Reuters) - China's economy picked up in November but a broader global recovery remains fragile and patchy, a clutch of factory surveys suggested on Monday, with activity elsewhere in Asia remaining subdued amid depressed demand from the developed world. The euro zone, where factory surveys are due later, is on course for its worst quarter since the depths of the global financial crisis in early 2009. The U.S. picture is brighter, but manufacturing growth is still seen slowing in the fourth quarter. ... Full Story | Top |
| Forces pound Damascus suburbs, flights to resume Sunday, Dec 02, 2012 08:19 PM PST  BEIRUT (Reuters) - Syrian forces pounded rebel-held suburbs around Damascus with fighter jets and rockets on Sunday, opposition activists said, killing and wounding dozens in an offensive to push rebels away from the airport and stop them closing in on the capital. The army struck hard after a week of rebel advances, including the capture of two military bases near the capital. Rebels had been planning to push into central Damascus from their strongholds on the outskirts and fighting in the past week has been fierce. ... Full Story | Top |
| Netanyahu brushes off world condemnation of settlement plans Sunday, Dec 02, 2012 11:29 PM PST  JERUSALEM (Reuters) - Prime Minister Benjamin Netanyahu on Sunday brushed off world condemnation of Israel's plans to expand Jewish settlements after the Palestinians won de facto U.N. recognition of statehood. "We will carry on building in Jerusalem and in all the places that are on the map of Israel's strategic interests," a defiant Netanyahu said at the weekly cabinet meeting. In another blow to the Palestinian Authority in the West Bank, Israel announced it was withholding Palestinian tax revenues this month worth about $100 million. ... Full Story | Top |
| EADS confirms shareholder structure talks Sunday, Dec 02, 2012 11:27 PM PST  PARIS (Reuters) - EADS confirmed that its French and German stakeholders were discussing potential changes to the shareholding structure and corporate governance at the European aerospace and defense group. The company said it was taking an active role in the discussions, which it said were intended to "preserve and enhance" the interests of all stakeholders. People familiar with the matter said on Sunday that France and Germany appeared to be very close to agreeing a new shareholder structure after talks over the weekend. ... Full Story | Top |
| Insight: Krawcheck, possible SEC head, raises Washington image Sunday, Dec 02, 2012 08:02 PM PST  NEW YORK (Reuters) - Sallie Krawcheck has been quietly raising her profile in Washington. For six months the former executive at Bank of America and Citigroup has been meeting with lawmakers on both sides of the aisle, offering her insights on a variety of issues including "too big to fail banks" and money market fund reform. Krawcheck, 48, who was ousted from senior jobs by both banks in recent years, had already sought to distance herself from Wall Street "fat cats" through op-eds, social media posts and TV appearances that have positioned her as an investor advocate. ... Full Story | Top |
| Analysis: Greek deal puts euro zone in slow recovery room Sunday, Dec 02, 2012 09:35 PM PST  PARIS (Reuters) - The euro zone is in the recovery room now the danger of a Greek default has been averted for a couple of years, but it is not yet safe from a Japanese-style "lost decade". The currency area's escape route hinges more on the pace of expansion in the United States and China, lifting the world economy, than on the policy mix in Europe, which will continue to favour austerity over growth in 2013. ... Full Story | Top |
| Suicide bombers attack U.S. base in Afghanistan Sunday, Dec 02, 2012 12:17 AM PST JALALABAD, Afghanistan (Reuters) - Suicide attackers detonated bombs and fired rockets outside a major U.S. base in Afghanistan on Sunday, killing five people in a brazen operation that highlighted the country's security challenges ahead of the 2014 NATO combat troop pullout. Local police officials said bodies in Afghan police and military uniforms were scattered around the entrance of the airfield in the eastern city of Jalalabad after a two-hour battle. A Taliban spokesman said the militant group had launched the 6 a.m. assault. The Taliban, who have been fighting U.S. ... Full Story | Top |
| Netanyahu brushes off world condemnation of settlement plans Sunday, Dec 02, 2012 01:38 PM PST  JERUSALEM (Reuters) - Prime Minister Benjamin Netanyahu on Sunday brushed off world condemnation of Israel's plans to expand Jewish settlements after the Palestinians won de facto U.N. recognition of statehood. "We will carry on building in Jerusalem and in all the places that are on the map of Israel's strategic interests," a defiant Netanyahu said at the weekly cabinet meeting. In another blow to the Palestinian Authority in the West Bank, Israel announced it was withholding Palestinian tax revenues this month worth about $100 million. ... Full Story | Top |
| Starbucks says may pay more UK tax Sunday, Dec 02, 2012 09:53 AM PST  LONDON (Reuters) - Coffee chain Starbucks said it was considering changes to its UK tax practices, which allowed it to make billions in revenue while paying little in income taxes, following criticism from lawmakers, tax campaigners and the media. A Reuters examination of Starbucks accounts published in October showed the company had reported 13 years of losses at its UK unit, even as it told investors the operation was profitable and among the best performing of its overseas markets. ... Full Story | Top |
| NATO aims to repair Russia ties despite Patriot row Sunday, Dec 02, 2012 06:46 AM PST  BRUSSELS (Reuters) - NATO foreign ministers, meeting for the first time this week since Russia appointed a new ambassador to the military alliance, are hoping to improve ties with Moscow despite a fresh row over plans to send anti-aircraft missiles to Turkey. A NATO spokeswoman said the meeting aimed to "re-energize" relations with Russia - whose cooperation is needed both on ending the conflict in Syria and smoothing the withdrawal of most foreign combat troops from Afghanistan by the end of 2014. ... Full Story | Top |
| China PMI survey shows growth reviving, but uneven Sunday, Dec 02, 2012 05:56 PM PST  BEIJING (Reuters) - The pace of activity in China's vast manufacturing sector quickened for the first time in 13 months in November, a survey of private factory managers found, adding to evidence that the economy is reviving after seven quarters of slowing growth. The final reading for the HSBC Purchasing Managers' Survey (PMI) rose to 50.5 in November from 49.5 in October, in line with a preliminary survey published late last month. It was the first time since October 2011 that the survey crossed above 50 points, the line that demarcates accelerating from slowing growth. ... Full Story | Top |
| Egypt's top court shuts down, blames Islamist protesters Sunday, Dec 02, 2012 03:25 PM PST CAIRO (Reuters) - Protests by Islamists allied to President Mohamed Mursi forced Egypt's highest court to adjourn its work indefinitely on Sunday, intensifying a conflict between some of the country's top judges and the head of state. The Supreme Constitutional Court said it would not convene until its judges could operate without "psychological and material pressure", saying protesters had stopped the judges from reaching the building. ... Full Story | Top |
| Analysis: Greek deal puts euro zone in slow recovery room Sunday, Dec 02, 2012 01:42 AM PST  PARIS (Reuters) - The euro zone is in the recovery room now the danger of a Greek default has been averted for a couple of years, but it is not yet safe from a Japanese-style "lost decade". The currency area's escape route hinges more on the pace of expansion in the United States and China, lifting the world economy, than on the policy mix in Europe, which will continue to favour austerity over growth in 2013. ... Full Story | Top |
| At least three dead after Japan tunnel collapse: TV Sunday, Dec 02, 2012 04:43 AM PST  TOKYO (Reuters) - A tunnel on a major highway in central Japan collapsed on Sunday, killing at least three people and starting a blaze, Japanese media reported. Attempts to rescue those still trapped inside the smashed tunnel, which began spewing smoke after concrete ceiling panels fell onto the road, have been interrupted for fear they might trigger another collapse. Three bodies have been found so far, television networks Fuji and Asahi said. The fire service earlier said at least seven people were unaccounted for in the 4.7 km (2. ... Full Story | Top |
| Syrian forces pound Damascus suburbs, flights to resume Sunday, Dec 02, 2012 03:57 PM PST  BEIRUT (Reuters) - Syrian forces pounded rebel-held suburbs around Damascus with fighter jets and rockets on Sunday, opposition activists said, killing and wounding dozens in an offensive to push rebels away from the airport and stop them closing in on the capital. The army struck hard after a week of rebel advances, including the capture of two military bases near the capital. Rebels had been planning to push into central Damascus from their strongholds on the outskirts and fighting in the past week has been fierce. ... Full Story | Top |
| Israel withholds Palestinian funds after U.N. vote Sunday, Dec 02, 2012 05:31 AM PST JERUSALEM (Reuters) - Israel said on Sunday it was withholding this month's transfer of tax revenues to the Palestinian Authority, after the United Nations' de facto recognition of a Palestinian state. Under interim peace deals, which Israel says the Palestinians violated by unilaterally seeking an upgrade of their status at the United Nations, it collects about $100 million a month in duties on behalf of the authority. But, Israeli officials said, the authority owes about $200 million to the Israel Electric Corporation, and that money will now be deducted from the tax transfers. ... Full Story | Top |
| Analysis: Drugmakers step up search for hearing loss medicines Sunday, Dec 02, 2012 12:43 AM PST ZURICH/LONDON (Reuters) - When Swiss biotech firm Auris Medical wanted to recruit patients to test its experimental hearing loss drug, it decided to enlist partygoers deafened by firecrackers on New Year's Eve. In the weeks leading up to December 31, 2005 it advertised in the subway and on radio stations in Munich and Berlin, urging victims of sudden firecracker-induced hearing loss to turn up at designated clinics for treatment on January 1. "We had just one single day of enrolment, we didn't know how many people would show up," Thomas Meyer, managing director of Auris, told Reuters. ... Full Story | Top |
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