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| BOJ shocks with new base money target, boosts asset buying Thursday, Apr 04, 2013 12:11 AM PDT  By Leika Kihara and Stanley White TOKYO (Reuters) - The Bank of Japan shocked markets on Thursday with a radical overhaul of its policymaking, adopting a new balance sheet target and pledging to double its government bond holdings in two years as it seeks to end nearly two decades of deflation. At Governor Haruhiko Kuroda's first policy-setting meeting, the central bank shifted its policy target to the monetary base -- the total size of cash and bank deposits -- from the overnight call rate, which is at zero to 0.1 percent. ... Full Story | Top |
| U.S. to send missile defenses to Guam over North Korea threat Wednesday, Apr 03, 2013 11:49 PM PDT  By Jack Kim and Phil Stewart SEOUL/WASHINGTON (Reuters) - The United States said it would soon send a missile defense system to Guam to defend it from North Korea, as the U.S. military adjusts to what Defense Secretary Chuck Hagel called a "real and clear danger" from Pyongyang. Hours later, South Korea's Yonhap news agency said North Korea had moved what appeared to be a mid-range Musudan missile to its east coast. It was not clear if the North planned to fire the rocket or was just putting it on display as a show of force, one South Korean government source was quoted as saying. ... Full Story | Top |
| Delta sues Ex-Im Bank over loan guarantees for foreign airlines Wednesday, Apr 03, 2013 09:44 PM PDT  (Reuters) - Delta Air Lines Inc has sued the Export-Import Bank of the United States over loan guarantees given to support purchases of Boeing Co's widebody planes by certain foreign airlines, according to a court filing. Delta said that Ex-Im bank's subsidies to foreign airlines, including Emirates Airlines, Etihad Airways and Korean Air Co Ltd, to help them buy Boeing planes would cause adverse economic effects on airlines and their employees. Delta said in the filing that the bank did not properly analyze the adverse economic impact and has requested the district court in Washington D.C. ... Full Story | Top |
| Obama cutting own pay in solidarity with federal workers Wednesday, Apr 03, 2013 08:34 PM PDT  WASHINGTON (Reuters) - President Barack Obama plans to give back 5 percent of his pay in a gesture of solidarity with government workers who must take unpaid leave as a result of deep spending cuts that went into effect last month. The president's self-imposed pay cut would be effective from March 1, when the spending cuts began, and would last through the end of December, an administration official said on Wednesday. Obama earns $400,000 a year. ... Full Story | Top |
| Hagel tells military to brace for further belt-tightening Wednesday, Apr 03, 2013 08:02 PM PDT  By David Alexander and Phil Stewart WASHINGTON (Reuters) - Defense Secretary Chuck Hagel warned the military to brace for more belt-tightening on Wednesday as he conducts a review that could cut the number of generals, pare back the civilian workforce and stem the spiraling cost of new weapons. Hagel, in his first major policy speech as Pentagon chief, told students at the National Defense University that the United States could not allow its current budget crisis to force it to retreat from the world. But he underscored the limits of U.S. military power. ... Full Story | Top |
| One person killed in shooting at Fort Knox Army post Wednesday, Apr 03, 2013 08:27 PM PDT By Bob Driehaus CINCINNATI (Reuters) - A man who worked as a civilian Army employee was shot to death on Wednesday in a parking lot at the Fort Knox Army base in Kentucky in an incident that prompted a security lockdown there, officials said. Authorities said the shooting was "not a random act" and the shooter remained at large on Wednesday night. The shooting, which came less than two weeks after a U.S. Marine shot dead two colleagues at a Virginia base, occurred on Wednesday afternoon outside the U.S. Army Human Resources Command headquarters, the Army said in a statement. ... Full Story | Top |
| China mobilizes to fight new bird flu; Japan, Hong Kong on guard Thursday, Apr 04, 2013 12:18 AM PDT  By Ben Blanchard BEIJING (Reuters) - China said it was mobilizing resources nationwide to combat a new strain of deadly bird flu that has killed three people, as Japan and Hong Kong stepped up vigilance against the virus and Vietnam banned imports of poultry from the mainland. The new H7N9 bird flu strain does not appear to be transmitted from human to human but authorities in Hong Kong raised a preliminary alert and said they were taking precautions at the airport. ... Full Story | Top |
| Palestinian youths shot to death as West Bank seethes Wednesday, Apr 03, 2013 10:56 PM PDT  By Ali Sawafta RAMALLAH (Reuters) - Israeli troops have shot dead two Palestinian youths in the occupied West Bank, medical officials said on Thursday, as confrontations entered a third day following the death of a prisoner in an Israeli jail. The Israeli army said troops fired on Palestinians who threw fire bombs after dark on Wednesday at a guard post near Tulkarm in the northern West Bank. One body was swiftly recovered and a second was found in the early hours of Thursday. Palestinian officials named the dead men as Amer Nassar, 17, and Naji Belbisi, 18. ... Full Story | Top |
| Regional leaders refuse to recognize Central African Republic coup leader Wednesday, Apr 03, 2013 04:27 PM PDT  By Madjiasra Nako N'DJAMENA (Reuters) - African heads of state on Wednesday refused to recognize rebel leader Michel Djotodia's self-appointment as president of Central African Republic, calling instead for the creation of a new transitional body to guide the country to elections. The decision, taken at a summit of leaders from the central African region, further isolates Djotodia, who led thousands of insurgents into the former French colony's crumbling riverside capital Bangui on March 24, ousting President Francois Bozize. ... Full Story | Top |
| New U.N. arms treaty faces rough road in U.S. Senate Wednesday, Apr 03, 2013 02:48 PM PDT  By Patricia Zengerle WASHINGTON (Reuters) - The new global arms trade treaty was overwhelmingly approved by the United Nations, with U.S. backing, but it was clear on Wednesday it faces a tough fight for ratification by U.S. senators who contend it could affect Americans' gun rights. The 193-nation U.N. General Assembly approved the pact by a vote of 154-3 on Tuesday, with 23 abstentions, many by major weapons exporters. Washington was one of the 'yes' votes, but to go into effect for the United States it must win at least 67 votes - a two-thirds majority - in the 100-member Senate. ... Full Story | Top |
| Palestinian youth shot to death as West Bank seethes Wednesday, Apr 03, 2013 04:04 PM PDT  By Ali Sawafta and Allyn Fisher-Ilan RAMALLAH/JERUSALEM (Reuters) - Israeli troops shot dead a Palestinian youth in the West Bank, a Palestinian medic said, as confrontations went into a third day after the death of a prisoner held by Israel provoked street clashes and rocket fire. Medical staff said troops brought the body of 17-year-old Amer Nassar from the village of Anabta to a hospital near Tulkarm, in the northern part of the occupied West Bank. ... Full Story | Top |
| Ex-Goldman trader Taylor pleads guilty to wire fraud Wednesday, Apr 03, 2013 12:58 PM PDT  By Lauren Tara LaCapra and Nate Raymond NEW YORK (Reuters) - Ex-Goldman Sachs Group Inc trader Matthew M. Taylor pleaded guilty on Wednesday to defrauding the Wall Street bank with an unauthorized $8.3 billion futures trade in 2007, saying he exceeded internal risk limits and lied to supervisors to cover up his activities. Taylor, 34, pleaded guilty to one count of wire fraud in federal court in lower Manhattan on Wednesday morning, after voluntarily turning himself into federal authorities earlier in the day. ... Full Story | Top |
| Cyprus judges to look into crisis, president Wednesday, Apr 03, 2013 01:11 PM PDT  By Michele Kambas NICOSIA (Reuters) - Supreme Court judges will launch an investigation on Thursday into almost a decade of financial profligacy which brought Cyprus to its knees last month, with a mandate from the head of state to give his own affairs special attention. ... Full Story | Top |
| Analysis: Supply crunch to take steam out of home sales Wednesday, Apr 03, 2013 12:39 PM PDT  By Lucia Mutikani WASHINGTON (Reuters) - A shortage of properties could take some edge off home sales during the spring selling season, but the housing market recovery should remain intact. The stock of houses for sale has declined rapidly in recent months as both investors and ordinary Americans rush to take advantage of near record low mortgage rates. The surge in demand for houses, thanks to an improving labor market and the Federal Reserve's very accommodative monetary policy, is putting a firmer foundation under the economy as it deals with the headwinds from belt tightening in ... Full Story | Top |
| Companies hire fewer in March, service sector growth slows Wednesday, Apr 03, 2013 10:16 AM PDT  By Leah Schnurr NEW YORK (Reuters) - Companies hired at the weakest pace in five months in March as recent strong demand for construction jobs evaporated, while growth in the vast services sector slowed, signs that the economic recovery could be hitting a soft patch. The ADP National Employment Report said on Wednesday that private employers added 158,000 jobs last month, falling short of economists' expectations for 200,000 new jobs. The hiring was below the lowest estimates in a poll by Reuters and was the smallest gain since October. ... Full Story | Top |
| Uganda suspends hunt for warlord Kony after coup Wednesday, Apr 03, 2013 11:32 AM PDT  By Elias Biryabarema KAMPALA (Reuters) - Uganda has suspended the hunt for fugitive warlord Joseph Kony and his Lord's Resistance Army fighters, blaming hostility towards foreign troops by Central African Republic rebels who seized power last month. About 100 U.S. special forces helping with intelligence and logistical support also called off operations temporarily, a U.S. embassy official said, but it was not immediately clear if troops from other countries in the regional force were also giving up the search. Kony is wanted by the International Criminal Court for war crimes. ... Full Story | Top |
| U.S. to send missile defenses to Guam over "clear" North Korea danger Wednesday, Apr 03, 2013 03:55 PM PDT By Phil Stewart and David Alexander WASHINGTON (Reuters) - The United States said on Wednesday it will soon send a missile defense system to Guam to defend it from North Korea, as the U.S. military adjusts to what U.S. Defense Secretary Chuck Hagel described as a "real and clear danger" from Pyongyang. The announcement came just hours before North Korea's army said it had ratified an attack against the United States, potentially involving a nuclear strike, the latest in a series of provocations testing President Barack Obama's policy of "strategic patience" with Pyongyang. ... Full Story | Top |
| U.S. to send missile defenses to Guam over North Korea threat Wednesday, Apr 03, 2013 03:43 PM PDT  By Phil Stewart and Jack Kim WASHINGTON/SEOUL (Reuters) - The United States said on Wednesday it would soon send a missile defense system to Guam to defend it from North Korea, as the U.S. military adjusts to what Defense Secretary Chuck Hagel has called a "real and clear danger" from Pyongyang. At the same time, North Korea repeated its threat to launch a nuclear attack on the United States. Pyongyang said it had ratified a potential strike because of U.S. military deployments around the Korean peninsula that it claimed were a prelude to a possible nuclear attack on the North. ... Full Story | Top |
| IMF will contribute 1 billion euros to Cyprus bailout Wednesday, Apr 03, 2013 10:05 AM PDT  BRUSSELS (Reuters) - The International Monetary Fund will contribute 1 billion euros ($1.29 billion) over three years to the 10 billion euro bailout for Cyprus, IMF Managing Director Christine Lagarde said in a statement on Wednesday. Lagarde said she expected the IMF board to approve the funds in early May. "A staff team of the International Monetary Fund has reached staff level agreement with the Cypriot authorities on an economic program that will be supported by the IMF jointly with the European Union and the European Central Bank," Lagarde said. ... Full Story | Top |
| SAC's Cohen must face fraud claims by ex-wife Wednesday, Apr 03, 2013 09:49 AM PDT  By Bernard Vaughan NEW YORK (Reuters) - An appeals court has revived a lawsuit by the former wife of Steven A. Cohen, founder of hedge fund SAC Capital Advisors, who accused the billionaire of hiding $5.5 million from her during proceedings that led to their 1990 divorce. The 2nd U.S. Circuit Court of Appeals in New York said a lower court had erred in dismissing fraud-based claims by Patricia Cohen, who had sued her ex-husband in 2009. The appeals court also revived claims of racketeering and breach of fiduciary duty, while upholding the dismissal of an unjust enrichment claim. ... Full Story | Top |
| Pope stresses "fundamental" value of women in Church Wednesday, Apr 03, 2013 10:23 AM PDT  By Naomi O'Leary ROME (Reuters) - Pope Francis stressed the "fundamental" importance of women in the Roman Catholic Church on Wednesday, a message hailed as a significant shift from the position of his predecessor Benedict. Supporters of liberal reform of the Church have called on it to give a greater voice to women and recognize their importance to the largest religious denomination in the world, and some groups call for women to be ordained as priests. ... Full Story | Top |
| Analysis: Mali insurgency endangers French pull-out plan Wednesday, Apr 03, 2013 05:02 AM PDT  By John Irish PARIS (Reuters) - France wants to cut its forces in Mali sharply by the year-end and is urging its ex-colony to hold elections in July, but an Islamist insurgency is threatening that timetable. Many people in northern Mali who lived under the rebels' brutal form of Islamic law last year are apprehensive about French plans to leave just 1,000 of the current 4,000 troops in the country by December, with U.N. peacekeepers filling the gap. "The Islamists are waiting for the French to leave to open the gates to hell. Let's hope the U.N. ... Full Story | Top |
| Serbia faces tough decisions on Kosovo to save EU bid Wednesday, Apr 03, 2013 07:49 AM PDT  By Matt Robinson and Aleksandar Vasovic BELGRADE (Reuters) - Serbia said on Wednesday it faced tough decisions in the days ahead as the Balkan country weighs how far to give ground on its former Kosovo province in return for coveted talks on membership of the European Union. The warning followed marathon but inconclusive talks in Brussels between the leaders of Serbia and Kosovo, their eighth encounter in almost as many months as the EU pushes to end the ethnic partition of Kosovo and set Serbia on the path to membership of the bloc. ... Full Story | Top |
| China first-quarter GDP likely nudged higher, recovery on track Wednesday, Apr 03, 2013 03:33 AM PDT  BEIJING (Reuters) - China's annual rate of economic growth likely nudged higher in the first three months of 2013 versus the last quarter of 2012, with fixed asset investment and factory output growth in double digits cementing a mild rebound, according to a Reuters poll. Evidence of a second successive quarter of rising year-on-year growth will further reinforce the view of investors that China's government has successfully engineered a recovery from 2012's 13-year low of 7.8 percent that is gaining traction. Meanwhile with the annual rate of consumer inflation expected to ease to 2. ... Full Story | Top |
| Syrian jet flies into Lebanon, fires missile Wednesday, Apr 03, 2013 06:39 AM PDT ARSAL, Lebanon (Reuters) - A Syrian jet flew 20 km (12 miles) into Lebanon and fired a missile into a field on the outskirts of the border town of Arsal on Wednesday but caused no casualties, witnesses said. Lebanon has maintained a policy of "dissociation" from Syria's two-year-old conflict. But many Lebanese officials feel their country is increasingly at risk of being dragged into the civil war, which the United Nations says has killed 70,000 people. Syrian forces loyal to President Bashar al-Assad have fired mortars into and occasionally entered Lebanese territory in pursuit of rebels. ... Full Story | Top |
| South African doctors say Mandela "much better" Wednesday, Apr 03, 2013 05:52 AM PDT  By Tiisetso Motsoeneng SOWETO, South Africa (Reuters) - Former South African president and anti-apartheid titan Nelson Mandela is making "steady improvement" under treatment for pneumonia and is much better now than when he was hospitalized a week ago, the government said on Wednesday. The three-sentence statement from President Jacob Zuma's office was the most upbeat since the 94-year-old Nobel Peace Prize laureate was admitted to hospital with a recurrence of a lung infection. ... Full Story | Top |
| Obama launches fund-raising blitz to help Democrats in Congress Wednesday, Apr 03, 2013 04:01 AM PDT  By Steve Holland WASHINGTON (Reuters) - President Barack Obama will launch a fund-raising drive for the 2014 U.S. mid-term elections on Wednesday with addresses to deep-pocketed donors in California, hoping the Democratic Party can defy the odds and gain congressional seats in the polls. The party in power in the White House usually loses seats in election years in which the presidency is not up for grabs. This means Democrats have their work cut out for them in trying to win a majority in the Republican-controlled House of Representatives and add to their majority in the Senate. ... Full Story | Top |
| Insight: Young nation Kyrgyzstan fights over gold at top of the world Wednesday, Apr 03, 2013 03:57 AM PDT  By Dmitry Solovyov KUMTOR, Kyrgyzstan (Reuters) - In an impoverished young nation with a habit of overthrowing its rulers, the future now balances on a mountain of gold at the top of the world, where the air is so thin collapsing visitors may be rushed to a pressure chamber for oxygen. After two revolutions in eight years, nationalists in Kyrgyzstan are threatening to return to the streets to topple another government unless it expropriates the Kumtor goldmine, a treasure they say was sold off too cheaply to foreigners. ... Full Story | Top |
| Secretary of State Kerry to visit Turkey: official Wednesday, Apr 03, 2013 01:25 AM PDT  ANKARA (Reuters) - Secretary of State John Kerry is expected to visit Turkey this week as part of a trip to Western Europe and Asia to consult allies on issues including Syria's civil war, a Turkish official told Reuters on Wednesday. Washington regards Turkey, which shares a 900 km (560-mile) border with Syria, as a pivotal player in backing the Syrian opposition and planning for an era after Syrian President Bashar al-Assad. "Mr Kerry will visit Turkey. The date is not clear yet but possibly it will take place either on Friday or on Saturday," said the official, who declined to be named. ... Full Story | Top |
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