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| No end in sight for Fed stimulus as inflation sags Tuesday, Apr 30, 2013 11:17 PM PDT  By Pedro Nicolaci da Costa WASHINGTON (Reuters) - The Federal Reserve's debate over U.S. monetary policy could begin to shift away from the prospect of reducing stimulus toward a discussion about doing more, given the signs of economic weakness and slowing inflation. But policymakers are not there yet. At a two-day meeting that wraps up on Wednesday, the Fed is widely expected to maintain its monthly purchases of $85 billion in bonds to support an economic recovery that is nearly four years old but still too weak for the job market to truly heal. ... Full Story | Top |
| China factory PMI raises doubts about economy's strength Wednesday, May 01, 2013 12:22 AM PDT  By Langi Chiang and Jonathan Standing BEIJING (Reuters) - Growth in China's manufacturing sector unexpectedly slowed in April as new export orders fell, raising fresh doubts about the strength of the economy after a disappointing first quarter. The official purchasing managers' index (PMI) fell to 50.6 in April from an 11-month high in March of 50.9. Analysts had expected the April PMI to be 51.0. ... Full Story | Top |
| Pakistan military angered by treatment of Musharraf: reports Tuesday, Apr 30, 2013 10:19 PM PDT  By Michael Georgy ISLAMABAD (Reuters) - Pakistan's powerful army chief has suggested the military is unhappy with how authorities have treated former army chief and president Pervez Musharraf since his return from exile. A Pakistani court on Tuesday imposed a lifetime ban on Musharraf from contesting elections, undermining his efforts to regain influence by winning a seat in parliament. The former army chief returned in March after nearly four years of self-imposed exile to contest a May 11 general election, but election officers disqualified him because of court cases pending against him. ... Full Story | Top |
| Tsarnaev homeland Chechnya: rebuilt from war, ruled by fear Wednesday, May 01, 2013 12:19 AM PDT  By Maria Golovnina GROZNY, Russia (Reuters) - When it was last in the international spotlight, Chechnya was in ruins, its capital Grozny reduced to dust by the deadliest artillery and air onslaught in Europe since World War Two. Today, when the naming of two Chechens as suspects in the Boston Marathon bombings has put it back on the world's front pages, Chechnya appears almost miraculously reborn. The streets have been rebuilt. Walls riddled with bullet holes are long gone. New high rise buildings soar into the sky. Spotless playgrounds are packed with children. ... Full Story | Top |
| Exclusive: Bain, Golden Gate in the lead to buy BMC Software - sources Tuesday, Apr 30, 2013 07:09 PM PDT By Greg Roumeliotis and Soyoung Kim NEW YORK (Reuters) - A private equity group made up of Bain Capital LLC and Golden Gate Capital Corp has emerged as the lead contender to buy BMC Software Inc for more than $6.5 billion, three people familiar with the matter said on Tuesday. Bain and Golden Gate, which made a binding bid for the business software maker on April 22, offered more than a rival consortium of KKR & Co LP, TPG Capital LP and Thoma Bravo LLC, the sources said. ... Full Story | Top |
| EU considers trade action after Bangladesh factory collapse Tuesday, Apr 30, 2013 11:51 PM PDT  (Reuters) - The European Union voiced strong concern over labor conditions in Bangladesh after a building collapse there killed hundreds of factory workers, and said it was considering action to encourage improvements, including the use of its trade preference system. Anger has been growing since the illegally built structure collapsed last week, killing at least 390 people. Hundreds remain unaccounted for but rescue officials said on Tuesday they had given up hope of finding any more survivors. ... Full Story | Top |
| Obama won't rush to act against Syria over chemical arms Tuesday, Apr 30, 2013 03:58 PM PDT  By Steve Holland and Warren Strobel WASHINGTON (Reuters) - President Barack Obama signaled on Tuesday he is no rush to respond quickly to Syria's apparent use of chemical weapons, taking a cautious approach to the country's civil war, mirroring the views of the American public, most lawmakers and some U.S. allies. Obama, who last year declared that the use or deployment of chemical weapons by Syrian President Bashar al-Assad would cross a "red line," told a White House news conference there was evidence those weapons were used, but there was still much that U.S. ... Full Story | Top |
| Accused Colorado gunman's lawyers may enter insanity plea over his objections Tuesday, Apr 30, 2013 10:23 PM PDT  By Keith Coffman DENVER (Reuters) - Lawyers for accused Colorado theater gunman James Holmes are questioning the constitutionality of the state's insanity defense law, court records released on Tuesday show, and raising the possibility that they may enter an insanity plea over his objections. Public defenders for Holmes, 25, said in a filing that there is "significant uncertainty and confusion" in Colorado law surrounding an insanity defense in the context of a case where prosecutors are seeking capital punishment. ... Full Story | Top |
| Home prices rise, seen helping economic recovery Tuesday, Apr 30, 2013 09:43 AM PDT  By Jason Lange WASHINGTON (Reuters) - Home prices rose in February at their fastest rate in almost seven years, a fresh sign the housing market recovery will help counter the drag on the economy from government belt tightening. The S&P/Case Shiller index of 20 metropolitan areas released on Tuesday showed single-family home prices rose 9.3 percent in February from a year earlier. The data reinforces the view that rising home prices could make Americans feel better about spending this year, helping counter a hit to economic growth from tax hikes and government spending cuts. ... Full Story | Top |
| Obama renews vow to close Guantanamo detention camp Tuesday, Apr 30, 2013 03:34 PM PDT  By Matt Spetalnick WASHINGTON (Reuters) - Saying it was damaging to U.S. interests to keep holding prisoners in legal limbo at Guantanamo, President Barack Obama renewed an old vow on Tuesday to close the camp, where about 100 inmates are on hunger strike to protest against their years in detention without trial. Human rights groups welcomed Obama's recommitment to shutting the prison, but some activists called for action, not just words. Criticism of the camp, set up at the U.S. ... Full Story | Top |
| FBI says lab tests link Mississippi man to ricin letters Tuesday, Apr 30, 2013 04:17 PM PDT  By Emily Lane JACKSON, Mississippi (Reuters) - A dust mask and other items seized from the martial arts studio of a Mississippi man charged with sending poison-laced letters to President Barack Obama and two other public officials tested positive for ricin, according to a court document released on Tuesday. Records seized by the FBI also showed that Tupelo martial arts instructor Everett Dutschke ordered castor bean seeds, used to make ricin, from eBay, FBI Special Agent Stephen Thomason said in an eight-page affidavit. ... Full Story | Top |
| Rebound in job growth eyed, but momentum still slow Tuesday, Apr 30, 2013 02:42 PM PDT  By Lucia Mutikani WASHINGTON (Reuters) - Job growth likely accelerated in April, but probably still lacked enough muscle to help the economy head off the blow from deep government budget cuts and higher taxes. Nonfarm payrolls are expected to have increased by 145,000, according to a Reuters survey of economists after stumbling to a nine-month low of 88,000 in March. While March's meager job gains probably exaggerated the labor market's weakness, the expected increase for April would still fall short of the monthly average of 200,000 new jobs for the first two months of this year. ... Full Story | Top |
| Apple wows market with record $17 billion bond deal Tuesday, Apr 30, 2013 02:44 PM PDT  By John Balassi and Josie Cox NEW YORK/LONDON, April 30 (IFR) - Apple Inc wowed the debt markets on Tuesday with the largest non-bank bond deal in history, pricing a whopping $17 billion as the U.S. computer giant switches strategy to placate restless shareholders. Just a week after announcing its first drop in quarterly earnings in a decade, Apple came to market with the massive deal to raise funds for an ambitious program that will return $100 billion in cash to holders of Apple shares. ... Full Story | Top |
| China steps up customs checks, but North Korea trade robust Tuesday, Apr 30, 2013 02:47 PM PDT  By Ben Blanchard DANDONG, China (Reuters) - China has stepped up checks on shipments to and from North Korea almost two months after agreeing to new U.N. sanctions that demand greater scrutiny of trade, but the flow of goods in and out of the reclusive state appears largely unaffected. The sanctions were imposed after North Korea's third nuclear test on February 12. China has said it wants the measures enforced, but few analysts believe Beijing will take steps that hurt North Korea as it is committed to a policy of engagement. ... Full Story | Top |
| Exclusive: Sources say senior Iranian diplomat detained in March Tuesday, Apr 30, 2013 01:12 PM PDT  By Louis Charbonneau UNITED NATIONS (Reuters) - A senior Iranian diplomat linked to Iran's reformists was detained in Tehran in March, possibly as part of a crackdown on dissidents ahead of the June presidential election, sources familiar with the case told Reuters on Tuesday. Bagher Asadi, who has previously been a senior diplomat at Iran's U.N. mission in New York and was most recently a director at the secretariat of the so-called D8 group of developing nations in Istanbul, was arrested in mid-March in the Iranian capital according to the sources, who requested anonymity. ... Full Story | Top |
| Italy's Letta tells Merkel Europe needs more growth Tuesday, Apr 30, 2013 11:42 AM PDT  By Steve Scherer and Stephen Brown ROME/BERLIN (Reuters) - Italian Prime Minister Enrico Letta, fresh from winning a confidence vote in parliament, told Germany on Tuesday his government would meet its budget commitments but expected Europe to drop its austerity mantra and do more to lift growth. Speaking in Berlin on his first foreign visit since taking office on Sunday, Letta warned that Italy's February election, which saw a surge of support for parties attacking the European Union, showed that a change of course was needed. ... Full Story | Top |
| Kerry pledges to answer Benghazi questions, laments 'misinformation' Tuesday, Apr 30, 2013 11:49 AM PDT  WASHINGTON (Reuters) - Secretary of State John Kerry on Tuesday pledged full cooperation with lawmakers' queries into last year's assault on the U.S. mission in Benghazi, Libya, while his spokesman dismissed reports that whistleblowers faced retaliation. "We're prepared to work openly and accountably to answer any of those questions," Kerry told reporters. "I'm determined that this will be an accountable and open State Department as it has been in the past and we will continue to provide answers," he said. The assault on the U.S. mission in Benghazi last September 11, in which U.S. ... Full Story | Top |
| Gunmen stage protest outside Libyan justice ministry Tuesday, Apr 30, 2013 10:37 AM PDT  By Ghaith Shennib and Jessica Donati TRIPOLI (Reuters) - Armed men in pick-up trucks mounted with anti-aircraft guns and rocket-launchers protested on the road outside Libya's justice ministry on Tuesday to press demands that former dictator Muammar Gaddafi's aides be barred from senior government posts. Tensions between the government and armed militia have been intensifying since authorities began a campaign to dislodge the gunmen from strongholds in the capital Tripoli to tackle lawlessness threatening democratic transition. ... Full Story | Top |
| South African army deaths from Central African Republic rise to 14 Tuesday, Apr 30, 2013 10:13 AM PDT  JOHANNESBURG (Reuters) - One of 27 South African soldiers injured in March in fighting against rebels in Central African Republic has died, bringing to 14 the total killed in the clashes, a defense force spokesman said on Tuesday. The soldier, who was not identified, had been released from hospital on April 19 following an improvement in his condition. "Yesterday, he collapsed at home and was rushed to hospital, where he died," South African National Defense Force spokesman Brigadier General Xolani Mabanga said. Pretoria had originally reported 13 killed in the fighting. ... Full Story | Top |
| Somalia's Puntland region executes suspected Islamist militants Tuesday, Apr 30, 2013 10:35 AM PDT BOSASSO, Somalia (Reuters) - Somalia's northern Puntland province executed 13 suspected al Qaeda-linked militants on Tuesday, a military court official said, and security forces deployed heavily in the coastal city of Bosasso to ward off any reprisal attacks. Squeezed out of their strongholds in southern and central Somalia by a military offensive, al Shabaab rebels have slowly infiltrated Puntland, a semi-autonomous region that had largely avoided being caught up in successive Islamist insurgencies. ... Full Story | Top |
| Berkshire size, Buffett age cloud annual gathering Tuesday, Apr 30, 2013 09:11 AM PDT  By Jonathan Stempel and Jennifer Ablan (Reuters) - Warren Buffett may be on safari for major acquisitions, which he likes to call elephants, but shareholders may wonder if his Berkshire Hathaway Inc has become the biggest elephant in the room. Berkshire has grown to look more and more like corporate America, as Buffett expands outside its core insurance business into such areas as energy, industrial products, newspapers, and in February ketchup, when he teamed up with Brazil's 3G Capital investment firm to buy H.J. Heinz Co for $23.2 billion. ... Full Story | Top |
| Exclusive: Ride service Uber raising cash at $1 billion valuation Tuesday, Apr 30, 2013 12:07 PM PDT  By Sarah McBride SAN FRANCISCO (Reuters) - Ride-sharing service Uber is raising a new funding round at a valuation of $1 billion, according to a person familiar with the situation. If the company succeeds, it will join an elite group of start-ups that command 10-figure valuations. The situation underscores investors' desire to pay premiums for any company they think might become the type of outsized success story along the lines of business network LinkedIn or software company Workday. ... Full Story | Top |
| Cyprus bailout scrapes through island's parliament Tuesday, Apr 30, 2013 03:59 PM PDT  By Michele Kambas NICOSIA (Reuters) - Cyprus's parliament approved an EU bailout on Tuesday which will force it to wind down its second-largest bank and impose heavy losses on uninsured depositors at another, conditions that have intensified calls from islanders to exit the euro. With a razor-thin majority of just two votes, lawmakers approved terms accompanying 10 billion euros ($13.18 billion)in aid from the European Union and the International Monetary Fund (IMF). ... Full Story | Top |
| Israel welcomes apparent Arab League softening of peace plan Tuesday, Apr 30, 2013 09:51 AM PDT  JERUSALEM (Reuters) - Israel responded favorably on Tuesday to an apparent softening by Arab states of their 2002 peace plan after a top Qatari official raised the possibility of land swaps in setting borders between the Jewish state and an independent Palestine. The original Arab League proposal offered full recognition of Israel but only if it gave up all land seized in the 1967 Middle East war and accepted a "just solution" for Palestinian refugees. Israel, which has long said it would never return to narrow pre-1967 war borders, rejected the plan at the time. ... Full Story | Top |
| Saudi Arabia has no plans to push oil capacity to 15 million bpd: minister Tuesday, Apr 30, 2013 09:37 AM PDT  WASHINGTON (Reuters) - Saudi Arabia's energy minister said on Tuesday the kingdom has no plans to dramatically expand its oil production capacity to 15 million barrels per day, dispelling a suggestion put forth by a member of his country's royal family. Ali al-Naimi said his country will be "lucky to go past" its current oil production of about 9 million barrels per day (bpd) by 2020, as new petroleum production from other countries comes into the global market. ... Full Story | Top |
| Anger builds as Bangladesh gives up hope of more survivors Tuesday, Apr 30, 2013 09:21 AM PDT  By Ruma Paul and Serajul Quadir DHAKA (Reuters) - Rescue officials in Bangladesh said on Tuesday they had given up hope of finding more survivors from a garment factory complex that collapsed killing hundreds, as the government came under pressure to do more to enforce building safety standards. At least 390 people have been confirmed dead in what is just the latest incident to raise serious questions about worker safety and low wages in the poor South Asian country that relies on garments for 80 percent of its exports. ... Full Story | Top |
| Bomb blast kills 13 in center of Syrian capital Tuesday, Apr 30, 2013 11:06 AM PDT  By Oliver Holmes BEIRUT (Reuters) - A bomb blast in the government-held center of Damascus killed 13 people on Tuesday, state television said, while rebels and loyalists to President Bashar al-Assad traded accusations over what they said was a chemical weapons attack the day before. Residents described scenes of carnage in Marjeh Square, in a the commercial district in the heart of the capital, with dozens of cars and buildings damaged by the bomb which went off in front of the former Interior Ministry building. ... Full Story | Top |
| Orange celebrations as King Willem-Alexander takes Dutch throne Tuesday, Apr 30, 2013 12:56 PM PDT  By Gilbert Kreijger and Thomas Escritt AMSTERDAM (Reuters) - Willem-Alexander became the first king of the Netherlands since 1890 on Tuesday, ascending a throne largely stripped of political power but still invested with enormous symbolic significance for the Dutch people. At his investiture in Amsterdam's 600-year-old Nieuwe Kerk, or New Church, the 46-year-old monarch swore an oath to uphold the Dutch constitution and stressed the need for unity at a time of economic crisis. "I take office in a period when many in the kingdom feel vulnerable or uncertain. ... Full Story | Top |
| Pakistani court bars ex-president from elections for life Tuesday, Apr 30, 2013 06:37 AM PDT  By Jibran Ahmed PESHAWAR, Pakistan (Reuters) - A Pakistani court on Tuesday imposed a lifetime ban on former President Pervez Musharraf from contesting elections, derailing his efforts to regain influence by winning a seat in parliament. It was the first time a court in Pakistan had declared a citizen ineligible from contesting elections for life. The former army chief returned last month after nearly four years of self-imposed exile to contest a May 11 general election, but election officers disqualified him because of court cases pending against him. ... Full Story | Top |
| Cyprus parliament approves bailout Tuesday, Apr 30, 2013 09:00 AM PDT  NICOSIA (Reuters) - Cyprus's parliament approved on Tuesday an EU bailout including provisions to impose substantial losses on bank depositors and wind down one of the island's biggest banks. By a show of hands, 29 lawmakers approved ratification of the bailout bill and 27 opposed. The government had warned that without approval the economy was in imminent danger of default. Cyprus is expected to get the first disbursement of a total of 10 billion euros ($13.10 billion) in aid from the European Union and the International Monetary Fund in May. ... Full Story | Top |
| Algeria contemplates future without ailing Bouteflika Tuesday, Apr 30, 2013 08:03 AM PDT  By Lamine Chikhi ALGIERS (Reuters) - Ill-health may force veteran Algerian President Abdelaziz Bouteflika, now in hospital in Paris, to hasten his departure from power, plunging a youthful, restless nation into an uncertain political transition. Algeria, led by Bouteflika since 1999, has for decades drawn its presidents from an ageing cohort of men who won their spurs in the bitter 1954-62 independence war with France. ... Full Story | Top |
| Mosque, Muslim shops attacked near Myanmar's biggest city Tuesday, Apr 30, 2013 06:41 AM PDT YANGON (Reuters) - Rioters attacked a mosque and Muslim businesses in central Myanmar on Tuesday, police said, the closest a series of sectarian clashes pitting Muslims against majority Buddhists has come to the commercial capital Yangon. Roaming gangs armed with bricks smashed the mosque's windows and looted dozens of shops after a Muslim woman collided with a Buddhist monk while walking in the street, angering residents, a police statement said. "Police had to disperse the crowd by firing warning shots," presidential spokesman Ye Htut said in a statement on his Facebook page. ... Full Story | Top |
| Roadside bomb kills three NATO soldiers in Afghan south Tuesday, Apr 30, 2013 06:56 AM PDT KABUL (Reuters) - A roadside bomb killed three members of NATO's International Security Assistance Force (ISAF) in southern Afghanistan on Tuesday, the coalition said. It is ISAF policy not to identify the nationality of soldiers killed on duty. The Taliban on Sunday launched its spring offensive, saying it would take aim at foreign military bases and diplomatic areas. (Reporting by Amie Ferris-Rotman; Editing by Janet Lawrence) Full Story | Top |
| Italian police arrest four suspected Islamist militants Tuesday, Apr 30, 2013 06:16 AM PDT BARI, Italy (Reuters) - Italian police on Tuesday arrested four of six men they suspect are members of an Islamist militant cell which was planning attacks in the United States, Israel and Italy, though no specific targets were named by police. The men aimed to train militants and send them abroad, para-military police said, and are suspected of conspiracy to commit international terrorism and inciting racial hatred. ... Full Story | Top |
| Consumer confidence rebounds in April Tuesday, Apr 30, 2013 07:05 AM PDT  NEW YORK (Reuters) - Consumer confidence rebounded in April as Americans felt better about the outlook for the economy and their income prospects, according to a private sector report released on Tuesday. The Conference Board, an industry group, said its index of consumer attitudes rose to 68.1 from an upwardly revised 61.9 in March. Economists had expected a reading of 60.8, according to a Reuters poll. March was originally reported as 59.7. The expectations index gained to 73.3 from 63.7, while the present situation index improved to 60.4 from 59.2. ... Full Story | Top |
| SoftBank slams Dish's Sprint bid, rules out sweeteners Tuesday, Apr 30, 2013 10:27 AM PDT  By Mari Saito and Sinead Carew TOKYO/NEW YORK (Reuters) - SoftBank Corp President Masayoshi Son came out swinging on Tuesday against Dish Network Corp's rival bid for Sprint Nextel Corp, saying the satellite TV company would cripple Sprint with debt and was ill-prepared to run a wireless service. Billionaire Son said there would be no need for SoftBank to sweeten its bid and he dismissed Dish's $25.5 billion offer as "incomplete and illusory." He argued his $20.1 billion offer would ultimately be better value for Sprint shareholders. Son, who plans to make a U.S. ... Full Story | Top |
| Iran says use of chemical arms by anyone in Syria is "red line" Tuesday, Apr 30, 2013 04:31 AM PDT  DUBAI (Reuters) - Iran said on Tuesday it regarded the alleged use of chemical weapons in Syria's civil war as a "red line", echoing major adversary the United States but saying Syrian rebels were the main culprit and not the Damascus government. Last week Washington said it had "varying degrees of confidence" that Syrian government forces had likely used the nerve agent sarin on a small scale against rebels fighting to overthrow President Bashar al-Assad. U.S. ... Full Story | Top |
| Pfizer results fall short; company trims profit forecast Tuesday, Apr 30, 2013 11:52 AM PDT  By Ransdell Pierson (Reuters) - Pfizer Inc reported much lower-than-expected first-quarter sales on Tuesday, hurt by weak demand for its Prevnar 13 vaccine used to prevent pneumonia and other infections, and it trimmed its 2013 profit forecast. Pfizer, whose shares fell 3.6 percent in afternoon trading, earned $2.75 billion, or 38 cents per share in the quarter. That was up from $1.79 billion, or 24 cents per share, a year earlier, when it took restructuring and legal charges. ... Full Story | Top |
| Japan household spending surges as "Abenomics" gains momentum Tuesday, Apr 30, 2013 02:14 AM PDT  By Stanley White and Kaori Kaneko TOKYO (Reuters) - Japan's household spending surged in March at the fastest pace in nine years in a sign that Prime Minister Shinzo Abe's bold efforts to end two decades of stagnation are lifting consumer confidence and setting the stage for an economic revival. A recent run of data has provided encouraging early hope that Abe's push for aggressive fiscal and monetary policies to get the world's third-largest economy motoring is having the desired effect. ... Full Story | Top |
| Analysis: Six months after Sandy, New York fuel supply chain still vulnerable Tuesday, Apr 30, 2013 03:24 AM PDT  By Sabina Zawadzki and Anna Louie Sussman NEW YORK (Reuters) - Six months after Hurricane Sandy ripped into the East Coast and triggered one of the worst energy crises in decades, there is scattered evidence companies and state agencies have moved to strengthen complex fuel supply networks against future storms. But the measures taken by energy firms in New York and New Jersey are uneven, state initiatives remain on paper for now, and in the absence of an industry-wide response it's unclear the region would fare much better should there be a next time. ... Full Story | Top |
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