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| China premier says Sino-Africa disputes just "growing pains" Sunday, May 04, 2014 12:51 AM PDT  Disputes arising over China's investment projects in Africa are just "growing pains" in a burgeoning relationship that saw their trade top $200 billion last year, Premier Li Keqiang said on Sunday ahead of a tour of the continent. Li, speaking before starting a May 4-11 trip to Ethiopia, Nigeria, Angola and Kenya, said Chinese firms in Africa needed to abide by local laws and regulations as well as also take responsibility to protect the interests of local communities. He said the Chinese government was willing to sit down with African countries to resolve any issues that arose between the two sides, but said theses were "isolated" cases in a relationship based on equality and mutual benefit. "I wish to assure our African friends in all seriousness that China will never pursue a colonialist path like some countries did, or allow colonialism, which belongs to the past, to reappear in Africa," the official news agency Xinhua quoted Li as saying. Full Story | Top |
| France's Hollande says recovery will lead to lower taxes: paper Sunday, May 04, 2014 12:48 AM PDT  PARIS (Reuters) - French President Francois Hollande told a Sunday paper he expects an economic recovery which will allow the government to lower taxes. "The reform effort is not over yet, but the economic recovery is arriving. This phase will lead to stronger growth, better competitiveness and a redistribution of purchasing power via lower taxes," Hollande was quoted as saying by the Journal du Dimanche. (Reporting by Emmanuel Jarry and Geert De Clercq; editing by Andrew Roche) Full Story | Top |
| Yemeni colonel shot dead in Aden, two hurt in bomb attack Saturday, May 03, 2014 11:24 PM PDT Unidentified gunmen shot dead an army colonel in his car in Yemen's southern port city of Aden late on Friday and two soldiers were injured when a car bomb exploded in another major southern port on Saturday, security sources said. On Saturday the army seized control of a militant bastion in the southern area of al-Mahfad, a stronghold for the Islamists, killing four of its defenders and injuring a number of others, a military source was quoted as saying on the state news agency. Western countries fear further destabilization in Yemen could give more space to al Qaeda in the Arabian Peninsula (AQAP), the local branch of the global Islamist militant movement, to plot attacks on international targets. AQAP and its local ally, Ansar al-Sharia, have been waging an insurgency in southern Yemen for more than three years, battling both government forces and local tribal militias. Full Story | Top |
| Tight finish seen in Panama presidential election Saturday, May 03, 2014 10:03 PM PDT  By Christine Murray and Elida Moreno PANAMA CITY (Reuters) - Panama's presidential election on Sunday is expected to be the closest in decades, as the opposition battles to deny outgoing President Ricardo Martinelli the chance to maintain an indirect hold over the booming Central American economy. The winner will inherit oversight of a major expansion of the Panama Canal, which briefly stalled earlier this year after a row over costs between the canal and the building consortium. A banking and trading hub, Panama is best known for the canal that links the Atlantic and Pacific Oceans. Accounting directly for 8 percent of gross domestic product, it has helped fuel the fastest growth in Latin America in the last few years. Full Story | Top |
| Washington gridlock butt of Obama jokes at White House correspondents' dinner Saturday, May 03, 2014 09:34 PM PDT  By Doina Chiacu WASHINGTON (Reuters) - President Barack Obama poked fun at himself and what he called a hard year but aimed his most caustic humor at Washington gridlock on Saturday when the political and media elites gathered at the annual White House Correspondents' Association dinner. "In 2008 my slogan was, 'Yes we can.' In 2013, it was control-alt-delete," Obama joked to an audience also studded with film and television stars. "At one point, things got so bad the 47 percent called Mitt Romney to apologize," he said, referring to 2012 presidential campaign scandal in which the Republican candidate was secretly taped saying that 47 percent of Americans have become reliant on government handouts. More than 2,000 guests packed the ballroom of the Washington Hilton, where the capital's political and media worlds collide every year in lubricated goodwill punctuated by a long dash of glamour on loan from Hollywood. Full Story | Top |
| Bus crash kills 23, injures 17 in southwest Haiti Saturday, May 03, 2014 08:30 PM PDT By Amelie Baron PORT-AU-PRINCE (Reuters) - A bus crash in southwest Haiti killed 23 people and injured 17 on Saturday, authorities said. The mayor of the city of Jeremie, Ronald Etienne, told Reuters that the cause of the accident was not known. The accident occurred near the coastal town of Roseau, east of Jeremie, according to media reports. Haiti's rural road infrastructure is in poor shape though foreign assistance after the 2010 earthquake has led to improvements on the national two-lane highway in the southwest. Full Story | Top |
| U-2 spy plane caused widespread shutdown of U.S. flights: report Saturday, May 03, 2014 04:34 PM PDT A U-2 spy plane caused a computer glitch at a California air traffic control center that led officials to halt takeoffs on Wednesday at several airports in the Southwestern United States and ground planes bound for the region from other parts of the country, NBC reported on Saturday. The computer problem at a Federal Aviation Administration center slowed the journeys of tens of thousands of arriving and departing passengers at Los Angeles International Airport, one of the busiest in the country. Bob Hope Airport in Burbank, California, John Wayne Airport in Santa Ana, California, and McCarran International Airport in Las Vegas were among other facilities affected by the order to keep planes grounded. So were flights in other parts of the country that were bound for the wide swath of airspace in the Southwestern United States managed by the FAA's Los Angeles Air Route Traffic Control Center. Full Story | Top |
| PayPal says new executive leaves after disparaging tweets Saturday, May 03, 2014 04:00 PM PDT SAN FRANCISCO (Reuters) - PayPal, the payment processing arm of eBay Inc, said on Saturday that it parted ways with a recently-hired strategy executive after he posted a series of disparaging and at times indecipherable tweets. "Rakesh Agrawal is no longer with the company," PayPal said on Saturday in a Twitter message. "Treat everyone with respect. No excuses. PayPal has zero tolerance." Agrawal, who was hired about two months ago, could not immediately be reached for comment. ... Full Story | Top |
| Buffett defends Coke, BNSF at Berkshire annual meeting Saturday, May 03, 2014 03:16 PM PDT  By Luciana Lopez OMAHA, Nebraska (Reuters) - Warren Buffett on Saturday defended his recent controversial vote on executive pay at Coca-Cola Co and disappointing performance at railroad BNSF, as investors grilled him on his Berkshire Hathaway Inc conglomerate at its annual shareholder meeting. The investment guru was peppered with questions at the meeting, part of a mostly festive weekend that Buffett calls "Woodstock for Capitalists," following concerns that Berkshire last year missed Buffett's five-year growth target for the first time in his 49 years at the helm. Buffett, 83, and Vice Chairman Charlie Munger, 90, took the stage at a downtown Omaha arena as they faced off with the audience and a hand-picked panel often excusing recent worries at the sprawling conglomerate. Berkshire, he said, is designed to perform best when markets are at their worst, unlike in 2013 when the Standard & Poor's 500 rose 30 percent. Full Story | Top |
| Adidas investor says loses confidence in management: report Saturday, May 03, 2014 02:23 PM PDT  By Joern Poltz FRANKFURT (Reuters) - Adidas AG's failure to narrow the market share gap with rival sportswear maker Nike Inc means shareholders should refuse to back the German company's management, a top investor was quoted as saying. Ingo Speich, a fund manager with Union Investment, told German weekly Frankfurter Allgemeine Sonntagszeitung the company had failed to narrow the gap with Nike and he had lost confidence in management as a result. "Even at home, in Germany as well as in Europe, Nike is gaining market share from Adidas," Speich is reported to have told the paper, according to an advance copy of an article set to be published on Sunday. Full Story | Top |
| Alitalia, creditors working on plan to woo Etihad at key meeting Saturday, May 03, 2014 02:23 PM PDT  By Lisa Jucca MILAN (Reuters) - Alitalia and its creditors are rushing to finalize by Tuesday a proposal aimed at persuading Gulf-based airline Etihad to invest in the loss-making Italian carrier, a source with direct knowledge of the matter told Reuters on Saturday. One of the options under discussion envisages hiving off a large chunk of Alitalia's 800 million euros ($1.11 billion) of debt into a separate company, a source told Reuters confirming details of an earlier report by Italian daily Il Messaggero. The plan was discussed at a meeting in Milan on Friday between executives of the loss-making airline and four Italian creditor banks including top Italian lenders UniCredit and Intesa Sanpaolo . Alitalia Chief Executive Gabriele Del Torchio is flying to the Gulf on Monday and will meet Etihad's boss James Hogan on Tuesday, the source said. Full Story | Top |
| Beckham's Miami stadium plan hits stormy waters Saturday, May 03, 2014 02:11 PM PDT By David Adams MIAMI, May 3 (Reuters) - David Beckham's dream of building a futuristic waterfront stadium in Miami that would house his own professional soccer team has turned into a "not in my backyard" clash, pitting the retired English superstar against one of the world's top cruise lines. Royal Caribbean Cruises is at the forefront of efforts to block Beckham's plans to build a 25,000 seat open-air stadium next to the port of Miami. The cruise line is spearheading a group called the Miami Seaport Alliance, which has paid for full-page newspaper ads and TV and radio spots opposing Beckham's plans. "A soccer stadium at PortMiami is downright nutty," according to one ad by the alliance. Full Story | Top |
| Buffett endorses Airbnb to combat hefty Omaha hotel prices Saturday, May 03, 2014 01:56 PM PDT By Jonathan Stempel OMAHA, Nebraska (Reuters) - Warren Buffett on Saturday gave an endorsement for the online home rental service Airbnb Inc, after receiving many complaints from Berkshire Hathaway Inc shareholders about how many Omaha hotels had jacked up room rates on the weekend of the company's annual meeting. Buffett said it is understandable that rates might rise, given that Berkshire's annual meeting now attracts some 38,000 shareholders - roughly two-thirds from outside the area - for what is Omaha's largest annual tourism event other than the baseball College World Series. Full Story | Top |
| Boy who survived flight in wheel well 'no longer in Hawaii' Saturday, May 03, 2014 01:30 PM PDT  A 15-year-old Somali boy who survived a nearly six-hour trip from California to Hawaii stowed away in the wheel well of an airplane has left protective custody in Hawaii, officials said on Saturday. The teenager was "no longer in Hawaii" according to a brief statement from Hawaii's Department of Human Services. The boy has been in protective custody in Hawaii since he sneaked into the wheel compartment of a Boeing 767 that took off April 20th from San Jose International Airport. His mother, Ubah Mohamed Abdulle, said in a radio interview with the Voice of America that she had fled Somalia and was living in a refugee camp in Ethiopia. Full Story | Top |
| GM recalls nearly 52,000 SUVs for inaccurate fuel gauge Saturday, May 03, 2014 01:28 PM PDT  General Motors Co is recalling 51,640 Buick Enclave, Chevrolet Traverse and GMC Acadia SUVs of the 2014 model year because faulty software may cause the fuel gauge to read inaccurately, U.S. regulators said on Saturday. "An inaccurate fuel gauge may result in the vehicle unexpectedly running out of fuel and stalling, increasing the risk of a crash," the National Highway Traffic Safety Administration (NHTSA) said on its website. GM said in a letter to NHTSA the fuel gauge reading could be off by as much as one-quarter of a tank. Full Story | Top |
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