Today's Yahoo! News - Latest News & Headlines:
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1st Penn State abuse suit comes from new accuser
Wed,30 Nov 2011 07:35 PM PST
AP -  Former Penn State assistant football coach Jerry Sandusky sexually abused a boy more than 100 times and threatened to harm his family to keep him quiet, according to a lawsuit filed Wednesday by a new accuser who is not part of the criminal case.
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Obama: 'Massive blow' if GOP blocks payroll tax
Wed,30 Nov 2011 07:35 PM PST
AP -  Blending governing with re-election politics, President Barack Obama roused a cheering northeast Pennsylvania crowd Wednesday as he warned of a "massive blow to the economy" if Republicans block a payroll tax extension.
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Cain plows ahead but says yet again: reassessing
Wed,30 Nov 2011 07:57 PM PST
AP -  His campaign's survival in question, Herman Cain plowed ahead Wednesday in an effort to move past a woman's allegation that they had a longtime affair. But he acknowledged the toll was rising and said he would decide by next week whether to drop out of the Republican race after talking in person to his wife.
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GOP: Offsetting cuts must cover payroll tax relief
Wed,30 Nov 2011 07:35 PM PST
AP -  Republican congressional leaders stressed a willingness Wednesday to extend a Social Security payroll tax cut due to expire Dec. 31, setting up a year-end clash with Democrats over how to pay for a provision at the heart of President Barack Obama's jobs program.
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Move by central banks exhilarates Wall Street
Wed,30 Nov 2011 02:43 PM PST
AP -  A move by the world's central banks to lower the cost of borrowing exhilarated investors Wednesday, sending the Dow Jones industrial average soaring 490 points and easing fears of a global credit crisis similar to the one that followed the 2008 collapse of Lehman Brothers.
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Blackstone, Bain plan Yahoo bid: source
Wed,30 Nov 2011 08:19 PM PST
Reuters -  NEW YORK (Reuters) - Blackstone Group and Bain Capital are preparing a bid for all of Yahoo Inc with Asian partners in a deal that could value the Internet company at about $25 billion, a source familiar with the matter said on Wednesday. The potential bid by the consortium, which would include China's Alibaba Group and Japan's Softbank Corp, has not yet been finalized, the source and two other people familiar with the matter said. ...
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Asian shares hit two-week high on c.banks' liquidity move
Wed,30 Nov 2011 10:05 PM PST
Reuters -  TOKYO (Reuters) - Asian shares rallied to two-week highs on Thursday, building on strong global gains after the world's six major central banks moved to tame a liquidity crunch for European banks by providing cheaper dollar funding. The U.S. Federal Reserve, the European Central Bank and the central banks of Canada, Britain, Japan and Switzerland said on Wednesday they would lower the cost of existing dollar swap lines by 50 basis points from December 5, and arrange bilateral swaps to provide liquidity for other currencies. MSCI's broadest index of Asia Pacific shares outside Japan jumped 4. ...
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Central banks act as euro zone crisis rages
Wed,30 Nov 2011 01:30 PM PST
Reuters -  BRUSSELS/LONDON (Reuters) - The world's major central banks acted jointly on Wednesday to provide cheaper dollar funding to European banks facing a credit crunch as the euro zone's debt crisis drove EU ministers to urge more IMF help to avert financial disaster. The emergency move by the U.S. Federal Reserve, the European Central Bank, and the central banks of Japan, Britain, Canada and Switzerland recalled coordinated action to stabilize global markets in the 2008 financial crisis after the collapse of Lehman Brothers. ...
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Obama cites progress towards payroll tax cut
Wed,30 Nov 2011 06:41 PM PST
Reuters -  NEW YORK (Reuters) - President Barack Obama struck an optimistic note on Wednesday night that lawmakers in Congress could reach agreement to extend payroll tax cuts he said earlier were needed to avoid a "massive blow" to the economy. At a fundraiser at a New York restaurant, the Democrat said Republican congressional leaders John Boehner and Mitch McConnell had indicated in the past few days they were open to the one-year extension that Obama wants to bolster the economy. ...
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U.S. wants Myanmar to deepen changes
Wed,30 Nov 2011 09:27 PM PST
Reuters -  NAYPYITAW (Reuters) - Secretary of State Hillary Clinton began her first substantive talks with Myanmar's new leaders on Thursday in a meeting Washington hopes will embolden reformers in the reclusive country where entrenched military interests still loom large. Clinton, whose landmark visit to the country also known as Burma marks a tentative rapprochement after more than 50 years of estrangement with the West, began a series of meetings with President Thein Sein, Foreign Minister Wunna Maung Lwin and top officials from parliament in Naypyitaw, Myanmar's new capital. ...
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Olympus ex-CEO campaigns to reclaim top job
Wed,30 Nov 2011 10:27 PM PST
Reuters -  NEW YORK/TOKYO (Reuters) - The former chief executive of disgraced Olympus Corp, Michael Woodford, launched a campaign on Thursday to oust the board of directors, reclaim his old job and bring in his own team to save the Japanese firm from a big accounting scandal. Woodford, who blew the whistle on accounting tricks at Olympus after he was sacked in October, said he was putting together a team of candidates for a new board and talking to shareholders about replacing the current leadership, hopefully by February. ...
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China factory sector shrinks first time in nearly 3 years
Wed,30 Nov 2011 08:05 PM PST
Reuters -  BEIJING (Reuters) - China's factory sector shrank in November in the face of weakening demand both at home and abroad, two surveys showed on Thursday, underlining the central bank's move to cut bank reserve requirements to shore up the economy. The official and HSBC purchasing managers' indexes are likely to feed worries that the global economy is on a slippery slope as the euro zone is marred by its debt crisis, reinforcing expectations that China will ease policy further. ...
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Analysis: Deal building to pump up IMF to handle Europe fallout
Wed,30 Nov 2011 04:17 PM PST
Reuters -  WASHINGTON (Reuters) - A deal is building to boost the International Monetary Fund's resources even as the world presses euro-zone leaders to put more of their own firepower on the line to defeat a debt crisis that threatens global growth. Mexico, which assumes on Thursday the rotating presidency of the Group of 20 nations, said on Wednesday it would make increasing IMF resources a priority. IMF members agree the global lender needs more money to handle the fallout from the euro zone's fiscal mess. ...
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Exclusive: Zynga aims for $10 billion valuation in IPO
Wed,30 Nov 2011 04:18 PM PST
Reuters -  NEW YORK, Nov 30 (IFR) - Facebook games developer Zynga Inc is seeking a lower-than-expected $10 billion valuation for its initial public offering, which is to be priced on December 15, two people close to the process said on Wednesday. In one of the most highly anticipated deals of the year, Zynga plans to file terms with regulators on Friday for an IPO that would generate around $900 million in proceeds, based on an indicative range of $8 to $10 per share and an initial float of 10 percent, according to the sources. Zynga spokesman Adam Isserlis declined to comment. ...
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U.S. denies NATO attack on Pakistani troops deliberate
Wed,30 Nov 2011 06:34 PM PST
Reuters -  WASHINGTON/ISLAMABAD (Reuters) - The top U.S. military officer on Wednesday denied allegations by a senior army official in Islamabad that a NATO attack that killed 24 Pakistani soldiers was a deliberate act of aggression. Islamabad has reacted angrily to the attack last weekend, which threatens to set back peace efforts in Afghanistan, by pulling out of an international conference in Germany next week on Afghanistan's future. It stood by its decision on Wednesday despite German hopes to the contrary. ...
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U.S. uncertain Israel would advise before Iran strike
Wed,30 Nov 2011 02:50 PM PST
Reuters - ABOARD A U.S. MILITARY AIRCRAFT (Reuters) - The top U.S. military officer told Reuters on Wednesday he did not know whether Israel would alert the United States ahead of time if it decided to take military action against Iran. General Martin Dempsey, the chairman of the Joint Chiefs of Staff, also acknowledged differences in perspective between the United States and Israel over the best way to handle Iran and its nuclear program. ... Full Story | Top |
Packing and patrolling, U.S. troops roll out of Iraq
Wed,30 Nov 2011 02:41 PM PST
Reuters -  CAMP ECHO, Iraq (Reuters) - Camp Echo's dusty motorpools are empty, its private contract caterers have long gone home and murals depicting the September 11, 2001 attacks on New York's twin towers have been painted over. One of the last seven U.S. military bases in Iraq, Echo is in rapid handover to Iraqi hands as American soldiers there pack up and complete their final task - protecting the last few departing troops heading home south across the Kuwaiti border. Nearly nine years after the invasion that ousted Saddam Hussein, the U.S. ...
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Wall St. rallies on central banks' help for Europe
Wed,30 Nov 2011 05:15 PM PST
Reuters -  NEW YORK (Reuters) - Stocks surged on Wednesday after major central banks agreed to make cheaper dollar loans for struggling European banks to prevent the euro-zone debt woes from turning into a full-blown credit crisis. The Dow posted its best day since March 2009 after the Federal Reserve, the European Central Bank and other major central banks stepped in to head off escalating funding pressures that threaten the key arteries of the world's financial system. The S&P 500 scored its best daily percentage gain since August. ...
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Private-sector jobs soar, payrolls forecasts rise
Wed,30 Nov 2011 02:41 PM PST
Reuters -  NEW YORK (Reuters) - Companies created the most jobs in nearly a year in November, adding to cautious optimism that the country's battered labor market is working its way toward healing. Better-than-expected housing and regional factory data released on Wednesday reinforced the view that the economy should avoid recession, though growth is unlikely to be brisk. "All of this confirms the economy, after slowing in the late spring and early summer, is back firmly at its 2 (percent) to 2.5 percent growth rate," said Steve Blitz, senior economist at ITG Investment Research in New York. ...
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UK expels Iran diplomats after embassy attack
Wed,30 Nov 2011 02:50 PM PST
Reuters -  TEHRAN (Reuters) - Britain shut Iran's embassy in London and expelled all its staff on Wednesday, saying the storming of the British mission in Tehran could not have taken place without consent from Iranian authorities. Foreign Secretary William Hague also said the British Embassy in Tehran had been closed and all staff evacuated following the attack on Tuesday by a crowd that ransacked offices and burned British flags in a protest over sanctions imposed by Britain on Tehran. Iran warned that Britain's closure of the Iranian embassy in London would lead to further retaliation. ...
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