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| EU's Almunia says Google latest concessions more appropriate Tuesday, Oct 01, 2013 12:40 AM PDT  BRUSSELS (Reuters) - A second offer made by search giant Google to settle an antitrust probe with the European Union better addresses competition concerns, the EU's antitrust commissioner said on Tuesday. Joaquin Almunia told lawmakers in the European Parliament that the new offer by Google better addressed concerns that Google search buries its competitors in its results. "We have reached a key moment in this case," he said. "Now with the significant improvements on the table I think we have the possibility to work again." The commissioner said a decision could be expected next spring. ... Full Story | Top |
| Kenya says 2013 Q2 GDP growth at 4.3 pct - stats office Tuesday, Oct 01, 2013 12:38 AM PDT NAIROBI (Reuters) - Kenya's economy expanded by an annualised 4.3 percent in the second quarter of this year, a fraction slower than the 4.4 percent recorded a year earlier, official data showed on Tuesday. The Kenya National Bureau of Statistics said growth was driven by the agriculture, manufacturing and financial sectors, while the hotels and restaurants sector posted a 11.4 percent contraction due to political uncertainty around March's presidential election. Full Story | Top |
| Thai court sentences firebrand royalist activist for royal insult Tuesday, Oct 01, 2013 12:30 AM PDT By Amy Sawitta Lefevre BANGKOK (Reuters) - A Thai court sentenced on Tuesday the founder of a pro-royalist protest movement to 2 years in jail for insulting the monarchy by repeating comments deemed offensive made by a political rival. Businessman Sondhi Limthongkul led so-called yellow shirt protests from 2005 to 2008 that undermined two governments led, or backed, by ousted former premier Thaksin Shinawatra. ... Full Story | Top |
| Bangladesh sentences 7th opposition lawmaker to death Tuesday, Oct 01, 2013 12:28 AM PDT DHAKA (Reuters) - Bangladesh's war crimes tribunal sentenced a senior opposition leader and lawmaker to death on Tuesday in the seventh such verdict by the body set up to probe abuses during the country's bloody struggle for independence. Salauddin Quader Chowdhury, a legislator from the main opposition Bangladesh Nationalist Party (BNP), was found guilty of torture, rape and genocide during the war for independence from Pakistan in 1971. ... Full Story | Top |
| JPMorgan insider helps Justice Department in probe: WSJ Tuesday, Oct 01, 2013 12:25 AM PDT  (Reuters) - An insider at JPMorgan Chase & Co has supplied a large amount of information related to the sale of mortgage securities to the U.S. Justice Department, which is using the documents to pursue possible criminal charges against the bank, the Wall Street Journal reported citing people familiar with the matter. The cooperating person has provided information including emails suggesting that JPMorgan vastly overstated the quality of mortgages that it packaged into securities and sold to investors before the financial crisis, the newspaper quoted the sources. ... Full Story | Top |
| South Africa's rand firms against struggling dollar, data could weigh Tuesday, Oct 01, 2013 12:09 AM PDT  JOHANNESBURG (Reuters) - South Africa's rand gained against a wobbly dollar on Tuesday after a U.S. government shutdown, although the local currency might not sustain the gains if a PMI survey points to loss of confidence in the local manufacturing sector. The rand traded at 9.9650/dollar by 0659 GMT, up 0.68 percent from its New York close. Government bonds followed suit, pushing the yield for the 2026 benchmark paper 5.5 basis points lower to 7.88 percent and the 2015 issue down four basis points to 6.05 percent. The dollar weakened against a basket of major currencies after the U.S. ... Full Story | Top |
| Special Report: Myanmar old guard clings to $8 billion jade empire Monday, Sep 30, 2013 11:57 PM PDT  By Andrew R.C. Marshall and Min Zayar Oo HPAKANT, Myanmar (Reuters) - Tin Tun picked all night through teetering heaps of rubble to find the palm-sized lump of jade he now holds in his hand. He hopes it will make him a fortune. It's happened before. "Last year I found a stone worth 50 million kyat," he said, trekking past the craters and slag heaps of this notorious jade-mining region in northwest Myanmar. That's about $50,000 - and it was more than enough money for Tin Tun, 38, to buy land and build a house in his home village. ... Full Story | Top |
| South Korea puts on show new missiles designed to hit North Monday, Sep 30, 2013 11:31 PM PDT  By Jack Kim SEOUL (Reuters) - South Korea showed off on Tuesday new missiles designed to target North Korea's artillery and long-range missiles and vowed to boost deterrence against its unpredictable neighbor. The ballistic Hyeonmu-2, with a range of 300 km (190 miles), and the Hyeonmu-3, a cruise missile with a range of more than 1,000 km (620 miles) were put on public display for the first time in a rare South Korean military parade. Both of the indigenously developed missiles have been deployed. ... Full Story | Top |
| China manufacturing tepid in September, small firms struggle Monday, Sep 30, 2013 11:25 PM PDT  BEIJING (Reuters) - China's manufacturing growth edged up only slightly in September, official data showed on Tuesday, with small firms struggling in the face of overcapacity and weak demand, adding to concerns a nascent economic recovery may be foundering. The official Purchasing Managers' Index (PMI) stood at 51.1 last month from August's 51.0, below expectations in a Reuters poll for a rise to 51.5, which would have been the highest in 17 months. Chinese factories have sent mixed signals on the extent of their latest rebound. ... Full Story | Top |
| In historic step, Japan PM hikes tax; will cushion blow to economy Monday, Sep 30, 2013 10:42 PM PDT  By Tetsushi Kajimoto and Stanley White TOKYO (Reuters) - Japan's Prime Minister Shinzo Abe took a step on Tuesday that none of his predecessors had managed in more than 15 years - making a dent in the government's runaway debt. Abe, riding a wave of popularity with economic policies that have begun to stir the world's third-biggest economy out of years of lethargy, said the government will raise the national sales tax to 8 percent in April from 5 percent. But at the same time he will soften the blow to the nascent recovery. As the tax increase is set to raise an additional 8 trillion yen ($81. ... Full Story | Top |
| U.S. government shutdown begins after Congress fails to break impasse Monday, Sep 30, 2013 10:36 PM PDT  By John Whitesides WASHINGTON (Reuters) - The U.S. government began a partial shutdown on Tuesday for the first time in 17 years, potentially putting up to 1 million workers on unpaid leave, closing national parks and stalling medical research projects. Federal agencies were directed to cut back services after lawmakers could not break a political stalemate that sparked new questions about the ability of a deeply divided Congress to perform its most basic functions. ... Full Story | Top |
| Australian PM welcomes Indonesia joint ventures on cattle Monday, Sep 30, 2013 10:24 PM PDT  By Kanupriya Kapoor JAKARTA (Reuters) - Australian Prime Minister Tony Abbott on Tuesday threw his support behind Jakarta's plans to invest in Australian cattle farms to help end a trade dispute that has devastated his country's cattle industry and boosted beef prices in Indonesia. Abbott's comments came on the final day of an official visit to Indonesia, his first overseas trip as prime minister, in which he was keen to focus on strengthening trade and business ties and move on from tension over refugee boats. ... Full Story | Top |
| Despite launch parties, Venezuelan oil tankers never set sail Monday, Sep 30, 2013 10:05 PM PDT By Marianna Parraga HOUSTON (Reuters) - With flags and confetti, Venezuela in the last 14 months launched three new oil tankers that exemplify the socialist nation's ambitions to diversify to Asian markets and give a helping hand to its political allies. But the tankers from shipyards in Iran, Argentina and China, have never set sail, according to five sources with knowledge of the company's fleet, as well as ship tracking data from Reuters showing the ships sitting where they were built. ... Full Story | Top |
| Analysis: For House Republicans, confrontation is safer than compromise Monday, Sep 30, 2013 10:04 PM PDT  By Andy Sullivan WASHINGTON (Reuters) - For most Republicans in the House of Representatives, the only greater peril than shutting down the federal government would have been fighting to keep it open. While a shutdown could hurt the Republican Party's ability to win the Senate next year or take the White House in 2016, that's not the concern of party members in the House, who led the push to pair continued government funding with measures that would delay President Barack Obama's signature healthcare law. ... Full Story | Top |
| Obamacare launch poised to reach millions despite shutdown drama Monday, Sep 30, 2013 10:01 PM PDT  By David Morgan WASHINGTON (Reuters) - Millions of Americans will learn on Tuesday what President Barack Obama's landmark healthcare law actually means for them, as the administration opens new insurance marketplaces in 50 states despite the government shutdown. The launch marks a milestone for Obama's signature domestic policy achievement, which aims to provide subsidized healthcare to millions of the uninsured, the most ambitious U.S. social program since Medicare was introduced in the 1960s. ... Full Story | Top |
| In U.S. government shutdown fight, concern for congressional aides Monday, Sep 30, 2013 09:41 PM PDT By Patricia Zengerle WASHINGTON (Reuters) - In the waning hours before a potential U.S. government shutdown, lawmakers expressed anxiety that some of the people hit hardest will be those who are closest to them - the army of often low-paid aides who work long hours to keep Capitol Hill going. Many congressional staffers have been declared "essential," meaning they would come to work even if the government is closed. But under the rules of a shutdown, they would not be paid until the impasse is over. Those deemed inessential would be furloughed, with no guarantee of getting back lost income. ... Full Story | Top |
| U.S. government shutdown to start after budget negotiations fail Monday, Sep 30, 2013 09:41 PM PDT WASHINGTON (Reuters) - The U.S. federal government was due to start partially shutting down on Tuesday after lawmakers failed to compromise on an emergency spending bill before a midnight deadline. Competing spending measures flew back and forth between the Republican-controlled House of Representatives and Democratic-led Senate late into Monday night, but Congress deadlocked over Republican efforts to use a temporary spending bill as a means to delay implementation of President Barack Obama's landmark healthcare law. It is unclear how long a government shutdown will last. ... Full Story | Top |
| White House orders government agencies to begin shutting down Monday, Sep 30, 2013 09:41 PM PDT WASHINGTON (Reuters) - The White House ordered government agencies to begin shutting down late on Monday after Congress failed to find a compromise on a government spending bill before a midnight deadline. ... Full Story | Top |
| Factbox: What would happen, who would be furloughed if U.S. government shuts down? Monday, Sep 30, 2013 09:41 PM PDT (Reuters) - If Congress cannot agree on a funding bill for the U.S. government by a midnight deadline, there will be far-reaching consequences for everything from National Park admissions to economic data. Much of the impact or relative lack of disruption is determined by whether agencies are partly funded by industry user fees or deemed to be essential services. ... Full Story | Top |
| Senate to kill latest House funding plan on Tuesday: Reid Monday, Sep 30, 2013 09:41 PM PDT WASHINGTON (Reuters) - With a government shutdown under way, the U.S. Senate on Tuesday planned to recess until 9:30 a.m., at which time Democrats will formally reject the House of Representatives' latest offer for funding the government. Senate Majority Leader Harry Reid, a Democrat, announced the recess, as Congress had no apparent plan for dealing with the first federal shutdown in 17 years because of lawmakers' inability to reach a budget deal for the fiscal year that began on Tuesday. (Reporting by Richard Cowan; Editing by Paul Simao) Full Story | Top |
| Senate Democrat reject negotiation 'with gun to our head' Monday, Sep 30, 2013 09:41 PM PDT WASHINGTON (Reuters) - U.S. Senate Democrats late on Monday rejected a last-ditch proposal by House of Representatives Republicans to establish a negotiating panel to work out a deal on an emergency spending bill and quickly end a looming government shutdown. Senate Majority Leader Harry Reid said he would not enter such a negotiation "with a gun to our head" as government funding was running out in less than one hour. Reid called on Republicans to instead pass a Senate-approved measure that would keep the government funded through November 15. ... Full Story | Top |
| Factbox: Japan to unveil $50 billion stimulus to cope with tax hike Monday, Sep 30, 2013 09:31 PM PDT (Reuters) - Japan's government is to announce an economic stimulus package on Tuesday worth $50 billion or more to cushion the economy from the blow of raising the national sales tax, a final draft of the government plan, seen by Reuters, shows. Following are some points of the program, meant to support growth in the short term while curbing Japan's huge public debt over time, which Prime Minister Shinzo Abe is to announce on Tuesday. - The government will raise the sales tax to 8 percent from 5 percent in April, the first major fiscal reform since 1997. ... Full Story | Top |
| Japan's Abe says to raise sales tax as planned next April Monday, Sep 30, 2013 09:31 PM PDT TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe said on Tuesday that he had decided to raise the sales tax as planned from April 1 next year to 8 percent from the current 5 percent to sustain the country's public finances. Speaking at a meeting of government and ruling party officials, Abe said he judged that the economic package compiled by his government would cushion the impact of any sales tax hike, which he said was necessary to maintain confidence in Japan's public finances. (Reporting by Tetsushi Kajimoto; Editing by Chang-Ran Kim) Full Story | Top |
| Japan business mood hits near six-year high, Abe set to raise tax Monday, Sep 30, 2013 09:31 PM PDT  By Leika Kihara TOKYO (Reuters) - Japanese manufacturers' sentiment improved sharply in the three months to September to a near six-year high, a closely-watched central bank survey showed, cementing the case for Premier Shinzo Abe to proceed with a planned sales tax hike next year. Service-sector sentiment also brightened slightly and big companies plan to increase capital spending, a sign robust personal consumption and a pickup in exports are solidifying a recovery in the world's third-largest economy. ... Full Story | Top |
| Instant View: Japan third quarter big manufacturers' mood improves - BOJ tankan Monday, Sep 30, 2013 09:31 PM PDT TOKYO (Reuters) - Japanese big manufacturers' sentiment improved in the three months to September for a third straight quarter, the central bank's "tankan" survey showed, cementing the case for Prime Minister Shinzo Abe to proceed with a planned sales tax hike next year. COMMENTARY: YOSHIMASA MARUYAMA, CHIEF ECONOMIST, ITOCHU ECONOMIC RESEARCH INSTITUTE, TOKYO "Earnings recovery on the back of a weaker yen, which affected only limited sectors at the time of the previous survey, has spread to a wider part of industry. "Big manufacturers' outlook is a little bit weaker. ... Full Story | Top |
| Obama warns Defense Department civilians of furloughs during shutdown Monday, Sep 30, 2013 09:06 PM PDT  WASHINGTON (Reuters) - President Barack Obama told U.S. troops in a televised message that they will remain on "normal duty status" during a government shutdown that began on Tuesday, but warned civilian Defense Department employees of possible furloughs. "I know the days ahead could mean more uncertainty, including possible furloughs," Obama said in a message broadcast on Armed Forces Television. "And I know this comes on top of the furloughs that many of you already endured this summer. ... Full Story | Top |
| House convenes to request budget talks with Senate Monday, Sep 30, 2013 09:00 PM PDT WASHINGTON (Reuters) - Just minutes before a U.S. government shutdown was to begin at midnight, the Republican-led House of Representatives convened to formally request negotiations with the Democratic-led Senate. Before House Republicans even gathered, Democrats rejected proposed talks and said Republicans should instead give final approval to a Senate-approved bill to fund the government through November 15. (Reporting by Thomas Ferraro; Editing by Eric Walsh) Full Story | Top |
| U.S. judge rejects government bid to kill 'Fast and Furious' suit Monday, Sep 30, 2013 08:15 PM PDT By Nick Brown (Reuters) - A U.S. judge on Monday refused to dismiss a lawsuit by Republican lawmakers who accuse Attorney General Eric Holder of wrongfully withholding documents tied to an investigation into a botched probe of gun trafficking on the U.S.-Mexican border. "Neither legal nor prudential considerations support the dismissal of this action," District Court Judge Amy Berman Jackson wrote in a ruling rejecting the Department of Justice's request to dismiss the lawsuit in federal court in Washington. ... Full Story | Top |
| House Republicans to seek special panel on spending bill Monday, Sep 30, 2013 07:49 PM PDT WASHINGTON (Reuters) - U.S. House of Representatives Republicans, in a bid to break the logjam over an emergency spending bill, are expected to seek the creation of a bipartisan negotiating panel with the Senate, according to a senior Republican aide. But it was not clear whether Senate Democrats would accept the offer. Furthermore, such a panel could not meet before a midnight ET (0400 GMT) government shutdown deadline, almost certainly assuring that agencies will have to curtail operations on Tuesday. (Reporting by Richard Cowan and Thomas Ferraro; Editing by Eric Walsh) Full Story | Top |
| Shooting of Louisiana pastor followed rape allegation, police say Monday, Sep 30, 2013 07:05 PM PDT (Reuters) - A pastor shot to death last week at his church in Lake Charles, Louisiana, was accused of rape just days before by the wife of the man who was charged with his killing, authorities said on Monday. Ronald Harris Sr. was shot as he preached to about 50 to 60 people at a service on Friday evening at the Tabernacle of Praise Worship Center, according to the Calcasieu Parish Sheriff's Office. Woodrow Karey, 53, of Lake Charles is being held on a second degree murder charge in connection with the pastor's death. ... Full Story | Top |
| U.S. Senate again rejects House Republican spending bill Monday, Sep 30, 2013 06:49 PM PDT WASHINGTON (Reuters) - For the second time on Monday, the U.S. Senate rejected an emergency funding bill approved by the House of Representatives that would have made major changes to the Obamacare healthcare law. By a vote of 54-46, Democrats in the Senate rejected the Obamacare changes and again sent back to the House a straight-forward bill to keep the U.S. government operating beyond Monday. ... Full Story | Top |
| Rep. Massie sees House leaders relenting on budget fight Monday, Sep 30, 2013 06:36 PM PDT WASHINGTON (Reuters) - Conservative freshman Republican Representative Thomas Massie said on Monday that he expects U.S. House of Representatives leadership to eventually relent and offer an emergency funding bill without any add-ons. "I think that is the logical result of our negotiating strategy. We keep coming down on our price while the Democrats haven't moved," Massie told Reuters. "And you don't pre-announce your conditions. We sort of pre-announced a long time ago that we weren't going to shut down the government. This is no way to negotiate," Massie said. ... Full Story | Top |
| Venezuela expels top U.S. diplomat for fomenting 'sabotage' Monday, Sep 30, 2013 06:30 PM PDT  By Brian Ellsworth and Eyanir Chinea CARACAS (Reuters) - Venezuelan President Nicolas Maduro said on Monday he was expelling the top U.S. diplomat in the South American nation and two others, accusing them of meeting with opposition leaders and encouraging "acts of sabotage" against his country. It was the latest of several public disputes between the socialist leader and the United States since Maduro won an April election following the death of his mentor and predecessor Hugo Chavez. Maduro said Venezuelan authorities had for months followed the three U.S. ... Full Story | Top |
| Dimon, bank executives to meet Obama on Wednesday over debt ceiling: WSJ Monday, Sep 30, 2013 06:25 PM PDT  (Reuters) - JP Morgan chief executive Jamie Dimon is headed for a scheduled meeting, along with other bank executives, with President Barack Obama on Wednesday, the Wall Street Journal reported. While talking to WSJ, an industry participant said concern over the debt ceiling battle would be raised during the meeting. Speaking to WSJ, a White House official said, "The president will meet members of the Financial Services Forum at the White House while they are in town for their annual meeting." JP Morgan was not immediately available for comments. ... Full Story | Top |
| Jury set for billionaire Mark Cuban's insider trading trial Monday, Sep 30, 2013 06:11 PM PDT * Billionaire accused of insider trading in Mamma.com * Civil trial of Dallas Mavericks owner may last 8-10 days * Opening arguments set to begin Tuesday (Adds details on jurors, selection process) By Jana J. Pruet DALLAS, Sept 30(Reuters) - Seven women and three men were chosen Monday as jurors in the civil trial of Mark Cuban, the billionaire owner of the Dallas Mavericks NBA basketball team, who faces charges of insider trading in shares of a little-known Internet search company. Cuban, 55, is accused of selling his 600,000 shares of the former Mamma. ... Full Story | Top |
| Mexico rescues 73 suspected kidnap victims near U.S. border Monday, Sep 30, 2013 05:59 PM PDT MEXICO CITY (Reuters) - Seventy-three suspected kidnap victims were rescued in northern Mexico near the border city of Reynosa after police followed their alleged captors to a house and heard frantic calls for help, authorities said on Monday. Of the victims, 37 were Mexicans, 19 were from Honduras, 14 from Guatemala and another three from El Salvador, federal police said in a statement. Among the victims were women and minors, some of whom reported having been sexually abused. ... Full Story | Top |
| Netanyahu to Obama: Tighten sanctions if Iran defies West Monday, Sep 30, 2013 05:59 PM PDT  By Matt Spetalnick and Dan Williams WASHINGTON (Reuters) - Israeli Prime Minister Benjamin Netanyahu urged President Barack Obama on Monday to step up sanctions on Iran if it pursues its nuclear drive even as Tehran exchanges overtures with Washington and restarts negotiations with the West. Seeking to reassure Israel about the emerging U.S. diplomatic engagement with Iran, Obama said Tehran must prove its sincerity with actions, insisted that Washington would not ease sanctions prematurely and reaffirmed U.S. readiness to resort to military action if all else fails. ... Full Story | Top |
| House passes emergency funding bill despite veto threat Monday, Sep 30, 2013 05:48 PM PDT  WASHINGTON (Reuters) - The Republican-led House of Representatives late on Monday approved another emergency funding bill that the Democratic-led Senate is certain to reject, moving the government closer to a Tuesday shutdown. By a mostly partisan vote of 228-201, the House passed the measure and sent it to the Senate where new Obamacare provisions included in the bill are expected to be killed. If the two chambers cannot agree within the next few hours on legislation to provide government funding, agencies will begin shutting many programs on Tuesday, the start of the new fiscal year. ... Full Story | Top |
| Two U.S. generals ousted over failure to secure Afghan base Monday, Sep 30, 2013 05:44 PM PDT  By Phil Stewart WASHINGTON (Reuters) - The head of the Marine Corps on Monday effectively fired two U.S. generals over their failure to defend a major base in Afghanistan from a deadly Taliban attack last year, in an extraordinary and rare public censure. Two Marines were killed and eight personnel were wounded when Taliban insurgents breached what a military investigation determined was inadequate security at Camp Bastion, in southern Afghanistan's Helmand province. ... Full Story | Top |
| Federal shutdown threatens hikers, pandas and Lady Liberty Monday, Sep 30, 2013 05:38 PM PDT  By Luke Swiderski NEW YORK (Reuters) - Tourists may not understand how the federal government works, but could find out on Tuesday what happens when it doesn't. The possible midnight Monday shutdown of the U.S. government amid a congressional budget battle will have serious consequences for the economy, including the more than 800,000 federal employees who will be sent home, and will jolt some of the more unusual bits of life in the United States. ... Full Story | Top |
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