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| Italy faces stalemate after election shock Monday, Feb 25, 2013 11:44 PM PST  ROME (Reuters) - Italy faced political deadlock on Tuesday after a stunning election that saw the anti-establishment 5-Star Movement of comic Beppe Grillo become the strongest party in the country but left no group with a clear majority in parliament. "The winner is: Ingovernability" was the headline in Rome newspaper Il Messaggero, reflecting the stalemate the country would have to confront in the next few weeks as sworn enemies would be forced to work together to form a government. ... Full Story | Top |
| World powers and Iran begin nuclear talks Monday, Feb 25, 2013 11:41 PM PST  ALMATY (Reuters) - World powers began talks with Iran on its nuclear program in the Kazakh city of Almaty on Tuesday, in a fresh attempt to resolve a decade-old standoff that threatens the Middle East with a new war. The six - United States, Russia, China, Britain, Germany and France - are expected to offer Tehran some sanctions relief if it curbs work which they suspect is intended to produce material for nuclear weapons, although Iran denies this. ... Full Story | Top |
| Rocket explodes in Israel, first attack from Gaza since truce Monday, Feb 25, 2013 09:50 PM PST JERUSALEM (Reuters) - A rocket exploded in southern Israel on Tuesday in the first such attack by militants in the Hamas Islamist ruled Gaza Strip since a truce ended a week of cross-border fighting in November, Israeli police said. The rocket caused some damage to a road near the city of Ashkelon but no injuries, police spokesman Micky Rosenfeld said. "An explosion was heard in the Ashkelon region experts searched areas experts and found one rocket that struck, damaging a road but causing no injuries," Rosenfeld said. ... Full Story | Top |
| Bernanke to face Fed critics in testimony to Congress Monday, Feb 25, 2013 09:06 PM PST  WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke faces the first of two days of congressional testimony that will subject the Fed's controversial bond-buying program to tough scrutiny and gauge his confidence in the resilience of the U.S. economy. Coming just a week after the Fed's meeting minutes sent U.S. stocks reeling by suggesting the central bank could pull back its economic stimulus earlier than had been expected, and a day after another sharp stock market drop, investors are certain to hang on every word. Beginning with the U.S. ... Full Story | Top |
| Egypt hot air balloon crash kills 19 tourists: spokesman Monday, Feb 25, 2013 11:24 PM PST  CAIRO (Reuters) - A hot air balloon crashed near the Egyptian town of Luxor on Tuesday, killing 19 tourists who were aboard, a spokesman for companies that operate balloon flights in the area told Reuters. Spokesman Ahmed Aboud added that one tourist and the balloon pilot had survived the crash, which happened after a gas explosion at 1,000 feet. He said the tourists were from a variety of countries but did not immediately have information on their nationalities. "There were 20 passengers aboard. An explosion happened and 19 passengers died. ... Full Story | Top |
| Syria says ready to talk with armed opposition Monday, Feb 25, 2013 06:25 PM PST  MOSCOW (Reuters) - Syria is ready for talks with its armed opponents, Foreign Minister Walid al-Moualem said on Monday, in the clearest offer yet to negotiate with rebels fighting President Bashar al-Assad. But Moualem said at the same time Syria would pursue its fight "against terrorism," alluding to the conflict in which the United Nations says 70,000 people have been killed. His offer of talks drew a dismissive response from U.S. Secretary of State John Kerry, who was starting a nine-nation tour of European and Arab capitals in London. ... Full Story | Top |
| White House steps up campaign to avoid spending cuts Monday, Feb 25, 2013 08:02 PM PST  WASHINGTON (Reuters) - The White House escalated a campaign on Monday to convince Americans dire consequences await if government spending cuts go ahead on March 1, warning of a slowdown in global trade, a stalled fight against cancer and Alzheimer's disease and compromised security at U.S. borders. At the same time, prominent Republicans said President Barack Obama was overstating the potential damage of the $85 billion in government-wide cuts to frighten the public. "There is a responsible way to cut less than 3 percent of the federal budget. ... Full Story | Top |
| Former Surgeon General C. Everett Koop dies at 96 Monday, Feb 25, 2013 06:45 PM PST  (Reuters) - Former U.S. Surgeon General C. Everett Koop, whose anti-smoking campaign and outspoken, controversial positions on abortion, AIDS and drugs, elevated the obscure post to one of national influence, died at his home in Hanover, New Hampshire, on Monday. He was 96 years old. Koop, a pediatric surgeon, served as the leading U.S. spokesman on public health matters and adviser to President Ronald Reagan from November 1981 until October 1989. His death was announced by Dartmouth's Geisel School of Medicine, where he founded the C. Everett Koop Institute. "Dr. ... Full Story | Top |
| Exclusive: Goldman to begin fresh round of job cuts Monday, Feb 25, 2013 04:01 PM PST  (Reuters) - Goldman Sachs Group Inc will begin its annual job cutting process as early as this week, sources familiar with the matter said on Monday, with its equities-trading business bracing for bigger cuts than fixed-income trading. The bank usually culls out the weakest 5 percent of its employees around now. But the cuts will likely be deeper in some businesses, particularly equities trading, where volumes and earnings are weak. The number of shares traded on major U.S. exchanges so far this year is down 7.2 percent. ... Full Story | Top |
| Chesapeake, Encana sued in civil antitrust action Monday, Feb 25, 2013 12:59 PM PST  (Reuters) - A major Michigan landowner is suing Chesapeake Energy Corp and Encana Corp, alleging that the two energy giants colluded to rig bids for oil and gas rights in 2010. Northstar Energy, which owns nearly 10,000 acres in Michigan's Utica-Collingwood oil and gas shale formation, filed the lawsuit against Chesapeake and Canadian firm Encana in Michigan federal court Friday. The suit follows a series of Reuters investigations last year which triggered civil and criminal probes of Chesapeake, the second-largest U.S. producer of natural gas. ... Full Story | Top |
| Analysis: Castro successor lacks charisma but is experienced manager Monday, Feb 25, 2013 04:37 PM PST  HAVANA (Reuters) - When Cuban President Raul Castro named former engineering professor and long-time Communist Party insider Miguel Diaz-Canel as his first vice president and potential successor on Sunday, he chose managerial skills over flair. Diaz-Canel, 52, is the youngest non-military man to come so close to the pinnacle of power in Cuba since the Castro brothers took power in 1959. He was appointed first vice president on Sunday at a meeting of the National Assembly where Castro also announced he would step down in 2018 at the end of his second five-year term as president. ... Full Story | Top |
| Powers to offer Iran sanctions relief at nuclear talks Monday, Feb 25, 2013 12:31 PM PST  ALMATY (Reuters) - Major powers will offer Iran some sanctions relief during talks in Almaty, Kazakhstan, this week if Tehran agrees to curb its nuclear program, a U.S. official said on Monday. But the Islamic Republic could face more economic pain if it fails to address international concerns about its atomic activities, the official said ahead of the February 26-27 meeting in the central Asian state, speaking on condition of anonymity. "There will be continued sanctions enforcement ... ... Full Story | Top |
| Tunisia arrests suspect in killing that sparked unrest Monday, Feb 25, 2013 02:31 PM PST  TUNIS (Reuters) - A hardline Islamist has been arrested in connection with the killing of a Tunisian opposition politician whose death earlier this month touched off protests across the country, a security source said on Monday. Tunisia was plunged into political crisis when the secular opposition politician Chokri Belaid was gunned down outside his house on February 6, igniting the biggest street protests since the overthrow of strongman Zine al-Abidine Ben Ali two years ago. "The police arrested a Salafist suspected of killing Belaid," the source told Reuters without giving more details. ... Full Story | Top |
| After election win, Anastasiades tackles Cyprus bailout Monday, Feb 25, 2013 11:46 AM PST  NICOSIA (Reuters) - Cypriot president-elect Nicos Anastasiades, armed with a clear mandate from voters to spare the island from insolvency, said on Monday he was committed to reforms in return for a financial bailout. The Conservative Anastasiades won decisive backing in a presidential election on Sunday for an aggressive approach to resolving the island's worst financial crisis in four decades. ... Full Story | Top |
| Former Surgeon General C. Everett Koop dies at 96 Monday, Feb 25, 2013 03:36 PM PST (Reuters) - Former Surgeon General C. Everett Koop, a pediatric surgeon known for his anti-smoking campaigns and efforts to improve diet and nutrition, died at his home in Hanover, New Hampshire, on Monday. He was 96 years old. Koop served as Surgeon General from November 1981 until October 1989, taking stern and sometimes controversial stands on abortion, AIDS, fatty foods, drugs and cigarettes. In the process, he became one of the most recognizable figures in the Reagan administration, elevating a formerly obscure government position. ... Full Story | Top |
| Syria says ready to talk with armed opposition Monday, Feb 25, 2013 12:21 PM PST MOSCOW (Reuters) - Syria is ready for talks with its armed opponents, Foreign Minister Walid al-Moualem said on Monday, in the clearest offer yet to negotiate with rebels fighting President Bashar al-Assad. But Moualem said at the same time Syria would pursue its fight "against terrorism", alluding to the conflict in which the United Nations says 70,000 people have been killed. His offer of talks drew a dismissive response from U.S. Secretary of State John Kerry, who was starting a nine-nation tour of European and Arab capitals in London. ... Full Story | Top |
| White House steps up campaign to avoid spending cuts Monday, Feb 25, 2013 03:24 PM PST  WASHINGTON (Reuters) - The White House escalated a campaign on Monday to convince Americans dire consequences await if government spending cuts go ahead on March 1, warning of a slow down in global trade, a stalled fight against cancer and Alzheimer's disease and compromised security at U.S. borders. At the same time, prominent Republicans said President Barack Obama was overstating the potential damage of the $85 billion in government-wide cuts to frighten the public. "There is a responsible way to cut less than 3 percent of the federal budget. ... Full Story | Top |
| Huge protest vote pushes Italy towards deadlock Monday, Feb 25, 2013 12:54 PM PST  ROME (Reuters) - A huge protest vote by Italians enraged by economic hardship and political corruption pushed the country towards deadlock after an election on Monday, with voting projections showing no coalition strong enough to form a government. With more than two thirds of the vote counted, the projections suggested the center left could have a slim lead in the race for the lower house of parliament. ... Full Story | Top |
| Analysis: Morning in America? U.S. economy poised to accelerate Monday, Feb 25, 2013 12:25 PM PST  WASHINGTON (Reuters) - Famed U.S. economist Milton Friedman once observed that a recovery from recession is like plucking a guitar string: The harder the economy is pushed down, the faster it snaps back. That didn't happen when America began to exit a deep downturn in 2009. Now, though, after years of paltry growth and despite a government austerity drive that could batter the economy for months, signs are emerging that a more robust recovery is around the bend. The main reason is an improvement in household finances, which by some measures are looking more solid than they have in decades. ... Full Story | Top |
| Exclusive: Goldman to begin fresh round of job cuts Monday, Feb 25, 2013 12:56 PM PST  (Reuters) - Goldman Sachs Group Inc will begin a fresh round of job cuts as early as this week, sources familiar with the matter said on Monday, with its equities-trading business bracing for bigger cuts than fixed-income trading. The bank usually culls out the weakest 5 percent of its employees around now. But the cuts will likely be deeper in some businesses, particularly equities trading, where volumes and earnings are weak. The number of shares traded on major U.S. exchanges so far this year is down 7.2 percent. ... Full Story | Top |
| Cardinal's departure darkens mood as pope allows early conclave Monday, Feb 25, 2013 09:49 AM PST  VATICAN CITY (Reuters) - A senior cleric resigned under duress on Monday and Pope Benedict took the rare step of changing Vatican law to allow his successor to be elected early, adding to a sense of crisis within the Roman Catholic Church. With just three days left before Benedict becomes the first pope in some six centuries to step down, he accepted the resignation of Britain's only cardinal elector, Archbishop Keith O'Brien, who was to have voted for the next pope. ... Full Story | Top |
| EU leaders give Kiev until May to prove it wants to look West Monday, Feb 25, 2013 09:30 AM PST  BRUSSELS (Reuters) - EU leaders on Monday gave visiting Ukraine President Viktor Yanukovich until May to show his nation had made progress towards political reform if it is serious about clinching a free trade deal which would move it away from Moscow's orbit. Both the European Union and Ukraine are keen to cut their dependency on gas giant Russia, but Ukraine has yet to make a clear choice between closer EU ties or tighter links with Moscow. ... Full Story | Top |
| Italy markets take fright at complex election results Monday, Feb 25, 2013 08:52 AM PST  MILAN (Reuters) - Italian shares and bonds lost earlier gains after election projections showed former prime minister Silvio Berlusconi's conservative bloc leading in the Senate, contradicting initial exit polls and raising the specter of deadlock in parliament. While polls indicated the center-left should win the lower house, projections based on early vote counts from television channels pointed to a victory for media tycoon Berlusconi in the key region of Lombardy, which holds the key to controlling the upper house. The situation remained confused, however. ... Full Story | Top |
| BBC says radio broadcasts being jammed in China Monday, Feb 25, 2013 07:09 AM PST  LONDON (Reuters) - Radio broadcasts in English from the BBC World Service are being jammed in China, the British broadcaster said on Monday, suggesting the Chinese authorities were behind the disruption. "The BBC strongly condemns this action which is designed to disrupt audiences' free access to news and information," the BBC said in a statement. China, which enforces strict restrictions on its domestic media, has been accused by several prominent foreign media of seeking to stop their news reports reaching Chinese audiences. ... Full Story | Top |
| "Argo" storms to Oscar victory on night of surprises Monday, Feb 25, 2013 09:40 AM PST  LOS ANGELES (Reuters) - "Argo" stormed to Best Picture victory at the Oscars on Sunday on a night of surprises that ended in disappointment for frontrunner "Lincoln" and handed the most overall wins - four - to "Life of Pi." It was the first time since "Driving Miss Daisy" in 1990 that a film won the top prize at the Oscars without its director also being nominated. ... Full Story | Top |
| China's Xi to tread peaceful, patient path on Taiwan Monday, Feb 25, 2013 01:49 AM PST  BEIJING (Reuters) - China's Communist Party chief Xi Jinping pledged peaceful ties on Monday during a meeting with a Taiwan delegation, suggesting that the mainland's policy towards the self-ruled island will not shift dramatically when he becomes China's president. Peaceful development of cross-Strait ties is the duty of the Chinese Communist Party's new leaders, Xi told Lien Chan, honorary chairman of Taiwan's ruling Nationalist Party, whose four-day trip to China is seen as offering an early look at how Xi will handle relations between the political rivals. ... Full Story | Top |
| Japan seen nominating "deflation basher" as BOJ head: sources Monday, Feb 25, 2013 04:03 AM PST  TOKYO (Reuters) - Japan's prime minister is likely to nominate an advocate of aggressive monetary easing - Asian Development Bank President Haruhiko Kuroda - as the next central bank governor to step up his fight to finally rid the country of deflation. Shinzo Abe won a big election victory in December promising to revive the fortunes of an economy stuck in the doldrums for most of the past two decades. He has repeatedly called for a more aggressive central bank willing to take radical steps. ... Full Story | Top |
| IKEA halts meatball sales after horsemeat found Monday, Feb 25, 2013 06:56 AM PST  PRAGUE/STOCKHOLM (Reuters) - Sweden's IKEA halted sales of its trademark Swedish meatballs in 13 European countries after tests in the Czech Republic on Monday showed the product contained horsemeat. IKEA, the world's No. 1 furniture retailer and known also for its signature cafeterias in its huge out-of-town stores, said it had stopped sales of all meatballs from a batch implicated in the Czech tests. The checks were carried out in response to a Europe-wide scandal that erupted last month when tests carried out in Ireland revealed some beef products contained horsemeat. ... Full Story | Top |
| Grounding, budget woes cloud F-35 warplane sales push in Australia Monday, Feb 25, 2013 01:21 AM PST  WASHINGTON/MELBOURNE (Reuters) - This year's second grounding of Lockheed Martin Corp's F-35 warplane, plus looming U.S. defense cuts, will complicate a push this week by Lockheed and U.S. officials to convince Australian lawmakers and generals to stick to a plan to buy 100 of the jets. Australia, a close American ally, is considering doubling its fleet of 24 Boeing Co F/A-18 Super Hornets amid delays and setbacks in Lockheed's $396 billion F-35 project. ... Full Story | Top |
| Apple signals emerging-market rethink with India push Monday, Feb 25, 2013 05:17 AM PST  NEW DELHI/BANGALORE (Reuters) - As BlackBerry launches the first smartphone from its make-or-break BB10 line in India, one of its most loyal markets, the company faces new competition from a formidable rival that has long had a minimal presence in the country. More than four years after it started selling iPhones in India, Apple Inc is now aggressively pushing the device through installment payment plans that make it more affordable, a new distribution model and heavy marketing blitz. ... Full Story | Top |
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