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| Portugal, Greece seek technical advice from World Bank: Kim Sunday, Nov 04, 2012 07:18 PM PST MEXICO CITY (Reuters) - Greece and Portugal have sought technical advice from the World Bank to help their economies recover from deep fiscal crises and talks are at the early stages, bank President Jim Yong Kim said on Sunday at the G20 meeting in Mexico. It is the first time in recent history that developed countries have turned to the World Bank for advice, a major shift for an institution known for its work in the world's poorest nations. "For both Portugal and Greece we are in the very early stages of conversation," Kim told reporters on the sidelines of the G20 meetings. ... Full Story | Top |
| Trial delays vex Fort Hood survivors three years after rampage Sunday, Nov 04, 2012 07:11 PM PST SAN ANTONIO (Reuters) - Survivors of the Fort Hood massacre say they are frustrated that the man accused of the shootings three years ago has yet to face a court martial. Major Nidal Hasan is accused of opening fire on a group of soldiers who were undergoing medical exams at the Army post in Texas on November 5, 2009, in preparation for their deployment to Iraq. Thirteen people died and 32 others were wounded in the attack. Hasan was charged immediately with first-degree murder, which could result in a death sentence if he is convicted, but three separate trial dates have passed. ... Full Story | Top |
| Canada says "close" to eliminating deficit on schedule Sunday, Nov 04, 2012 06:41 PM PST  MEXICO CITY (Reuters) - Canada will report within two weeks that it is "close" to meeting its target of eliminating the budget deficit in 2015-16, Finance Minister Jim Flaherty said on Sunday, suggesting Ottawa may still be a few billion dollars in the red at that time. Canada ran a fiscal surplus for over a decade prior to the global financial crisis, but then fell into deficit as it injected cash into the economy to stimulate growth. In 2009, the Conservative government pledged to balance the books again in 2015-16 through government spending cuts and economic growth. ... Full Story | Top |
| In New York's Rockaways, battered residents dig out and wait Sunday, Nov 04, 2012 06:38 PM PST  NEW YORK (Reuters) - It took ironworker Jim Coyne more than a year to replace the hot water heaters and furnaces damaged when Hurricane Irene dumped two feet of water in the basement of his beach-block home in the Rockaways, New York last year. Last week, within days of his replacing his damaged equipment, the massive storm Sandy brought more floods, sounding like thunder on Coyne's porch and tearing apart his fence with an audible crack. "The water just kept coming in big waves that covered everything," he said. ... Full Story | Top |
| Storm victims face housing crisis as cold snap hits Sunday, Nov 04, 2012 06:23 PM PST  NEW YORK (Reuters) - A housing crisis loomed in New York City as victims of superstorm Sandy struggled without heat in near-freezing temperatures on Sunday and nearly 1 million people in neighboring New Jersey shivered in the dark without power. Fuel shortages and power outages lingered nearly a week after one of the worst storms in U.S. history flooded homes in coastal neighborhoods. Mayor Michael Bloomberg said 30,000 to 40,000 people in New York City alone would need shelter. "We don't have a lot of empty housing in this city. It's a problem to find housing. ... Full Story | Top |
| Merkel coalition agrees welfare changes as poll looms Sunday, Nov 04, 2012 06:19 PM PST  BERLIN (Reuters) - German Chancellor Angela Merkel's center-right coalition reached agreement early on Monday on contentious social welfare issues that it hopes will bolster its support in the countdown to federal elections next September. After nearly eight hours of talks that underlined the degree of discord simmering within her three-party government, Merkel and other leaders agreed to scrap an unpopular health surcharge and to introduce extra child benefits, coalition sources said. ... Full Story | Top |
| Obama, Romney sprint to unpredictable campaign finish Sunday, Nov 04, 2012 06:14 PM PST  CONCORD, New Hampshire (Reuters) - President Barack Obama and Republican challenger Mitt Romney sprinted to an unpredictable finish in the last 48 hours of a close White House race on Sunday, trying to turn out supporters and woo undecided voters in a handful of toss-up states. The two rivals crisscrossed the country on the next-to-last day of a campaign that polls show is deadlocked nationally, although the president appeared to have a slight edge in the swing states that will decide who captures the 270 electoral votes needed to win on Tuesday. ... Full Story | Top |
| Utilities feel heat as 1.9 million still dark after Sandy Sunday, Nov 04, 2012 05:56 PM PST NEW YORK (Reuters) - About 1.9 million homes and businesses remained in the dark on Sunday as pressure mounted on power companies to restore electricity to areas hit hardest by Hurricane Sandy nearly a week ago. In New York, utilities came under increasing calls to restore heat and light to some 650,000 customers. More than half of those were served by the Long Island Power Authority, which was singled out for criticism by Gov. Andrew Cuomo. In New Jersey, about a quarter of the state remained without power. After a peak of 8. ... Full Story | Top |
| China communist party to probe Wen family wealth: SCMP Sunday, Nov 04, 2012 05:38 PM PST HONG KONG (Reuters) - China's ruling Communist Party has launched an internal inquiry into allegations made by The New York Times that the family of Premier Wen Jiabao accumulated at least $2.7 billion in "hidden riches", the South China Morning Post said on Monday. Wen himself asked for the inquiry in a letter to the Politburo Standing Committee - the party's top decision-making body of which he is also a member - in an apparent move to clear his name, the Hong Kong daily said, citing unnamed sources. ... Full Story | Top |
| Canada to G20: keep your promises or become a "paper tiger" Sunday, Nov 04, 2012 05:28 PM PST  MEXICO CITY (Reuters) - The G20 risks becoming a "paper tiger" unless countries follow through on commitments aimed at preventing another global economic crisis, Canada's finance minister said on Sunday, fingering the U.S. "fiscal cliff" as the greatest risk. Flaherty spoke to reporters as some of the world's major economies looked set to miss agreed deadlines for reducing their fiscal deficits and for implementing new bank capital rules to safeguard against taxpayer bailouts the next time they run into trouble. ... Full Story | Top |
| New York area rail commuters face long haul come Monday Sunday, Nov 04, 2012 05:18 PM PST NEW YORK (Reuters) - Almost 200,000 suburban New York City commuters, most in New Jersey, face another work week without easy rail connections because of storm damage so severe that experts say it will take months before full service can be restored. Hurricane Sandy severed train connections for an estimated 435,000 daily commuters in the New York City suburbs. By Monday morning, full or partial service will have been restored for about 260,000. Experts with experience repairing rail after other natural disasters say commuters on some of the most damaged lines are likely to face a long wait. ... Full Story | Top |
| On Brooklyn's waterfront, Red Hook learns to cope without power Sunday, Nov 04, 2012 05:11 PM PST BROOKLYN, New York (Reuters) - At the 99 Cent Dreams store in Red Hook, a working-class neighborhood on New York Harbor, Ramon Rodriguez spent part of his Sunday hunting for fresh supplies as the disruptions from superstorm Sandy continued for a second week. The 70-year-old is one of hundreds in the neighborhood's public housing apartments without heat and power after Sandy's floodwaters swamped the area. "I feel like I've spent my whole Social Security check on batteries and candles," Rodriguez said. "The power's been out all week. ... Full Story | Top |
| Two released after being held in Northern Ireland prison officer's murder Sunday, Nov 04, 2012 04:36 PM PST  BELFAST (Reuters) - Two men arrested by police in Northern Ireland hunting for those responsible for the murder of a prison officer who was shot as he drove to work were released without charge on Sunday, police said. According to a security source one of the men released was Colin Duffy, a prominent Irish nationalist acquitted earlier this year of the murder of two British soldiers. The men were detained on Friday, a day after the prison officer, David Black, 52, was shot dead. ... Full Story | Top |
| Two released after being held in North Ireland prison officer's murder Sunday, Nov 04, 2012 04:35 PM PST BELFAST (Reuters) - Two men arrested by police in Northern Ireland hunting for those responsible for the murder of a prison officer who was shot as he drove to work were released without charge on Sunday, police said. According to a security source one of the men released was Colin Duffy, a prominent Irish nationalist acquitted earlier this year of the murder of two British soldiers. The men were detained on Friday, a day after the prison officer, David Black, 52, was shot dead. ... Full Story | Top |
| Greece makes austerity push, workers gear for strike Sunday, Nov 04, 2012 04:10 PM PST ATHENS (Reuters) - Greece's government will present a new austerity package to parliament on Monday, facing a week of strikes and protests over proposals which must win deputies' approval if the country is to secure more aid and stave off bankruptcy. Parliament is expected to vote on Prime Minister Antonis Samaras' package of 13.5 billion euros ($17 billion) in cost cuts and tax hikes on Wednesday along with measures making it easier for firms to hire and fire workers. ... Full Story | Top |
| UK PM Cameron visits Gulf, Typhoon jet sales high on agenda Sunday, Nov 04, 2012 04:04 PM PST  LONDON (Reuters) - British Prime Minister David Cameron will visit the Gulf and Middle East on a three-day diplomacy and trade trip this week, his office said on Monday, adding that selling BAE Systems-built fighter jets would be high on the agenda. Cameron will visit the United Arab Emirates on Monday, and Saudi Arabia on Tuesday before travelling to another destination in the Middle East, in a trip his office said "was to help Britain compete and thrive in the global race". ... Full Story | Top |
| Hollande likely to shrug off "shock therapy" review Sunday, Nov 04, 2012 04:01 PM PST  PARIS (Reuters) - The French government is expected to play down a review on Monday that will prescribe taking an axe to payroll taxes and softening labor laws to reverse a long slide in competitiveness that has eaten away at exports and bled factory jobs. Any expectations that the widely-leaked government-commissioned report by industrialist Louis Gallois would bring big reforms have been snuffed out in advance by the Socialist government which has ruled out "shock therapy" proposals. ... Full Story | Top |
| New Jerseyans flock to bars after Sandy keeps them indoors Sunday, Nov 04, 2012 03:57 PM PST NEPTUNE CITY, New Jersey (Reuters) - One Jersey Shore woman said she felt claustrophobic at home, a man said he suffered cabin fever while said they were sure they were going "stir crazy." Many people shut in by superstorm Sandy broke the monotony Sunday by taking to a cozy barstool with a drink in hand. Since Monday night at 8:15 p.m., when the storm knocked out power, Paulette Balla had been forced to sit at home in Asbury Park in the darkness wearing "a hoodie, a sweatshirt, a pair of gloves" and swaddled in two blankets to stay warm, she said. ... Full Story | Top |
| G20 summit meeting in Mexico Sunday, Nov 04, 2012 03:53 PM PST The following are highlights of comments by leaders and officials at the Group of 20 finance ministers and central bankers meeting in Mexico City on Sunday. For a TAKE A LOOK of the G20 meeting: JAPANESE FINANCE MINISTER KORIKI JOJIMA "I'll tell the G20 about Japan's economic situation as we are at a critical stage of rebuilding (from last year's quake). Of course we'll assert our stance on global economy as well. ... Full Story | Top |
| Israel kills Palestinian man near Gaza border: medics Sunday, Nov 04, 2012 03:46 PM PST  GAZA (Reuters) - Israeli soldiers have shot and killed a Palestinian man who approached a fence near the border with Israel, medics said on Monday. An Israeli military spokeswoman confirmed the shooting took place after darkness fell on Sunday, saying troops opened warning shots when a man walking west of the border in a riverbed failed to heed orders to leave the buffer area Israel maintains to try and prevent cross-border attacks. Palestinian medics said the victim was an unarmed, mentally unfit man and that they had to wait a couple of hours for permission to pick him up, early on Monday. ... Full Story | Top |
| Factbox: Storm Sandy blamed for at least 113 deaths in U.S., Canada Sunday, Nov 04, 2012 03:44 PM PST (Reuters) - Deaths in the United States and Canada blamed on Sandy, the ferocious storm that tore across the U.S. East Coast last week, were at least 113 on Sunday. In New York City, police said the storm took 40 lives, a reduction of one from previous reports because of what the police department called the reclassification of some deaths that occurred during and after the storm. About half the victims were on Staten Island, the borough that lies across New York Harbor from lower Manhattan. ... Full Story | Top |
| NJ governor pledges to vote Romney despite praising Obama Sunday, Nov 04, 2012 03:40 PM PST NEW YORK (Reuters) - New Jersey Governor Chris Christie defended his praise for President Barack Obama after superstorm Sandy, but said he would stick with his fellow Republicans and vote for Mitt Romney in Tuesday's election. "I endorsed Mitt Romney 13 months ago because I thought he was the best guy for the job," Christie said on Sunday during a news conference, reaffirming his support for the Republican candidate. But support for Romney does not mean that he cannot appreciate the "good job" that Obama did while responding to the historical storm that hit the U.S. ... Full Story | Top |
| Bomb shakes Damascus, opposition holds unity talks Sunday, Nov 04, 2012 03:15 PM PST  AMMAN (Reuters) - A bomb exploded near army and security compounds in Damascus, Syrian television reported, and fractured opposition groups seeking to topple President Bashar al-Assad began unity talks abroad to win international respect and arms supplies. The 50-kilogram (110-pound) bomb, near a large hotel in a heavily guarded district, was described by state media as an attack by "terrorists" - the government's term for insurgents in the 19-month-old uprising against Assad. ... Full Story | Top |
| Red Cross regrets not responding to storm victims sooner Sunday, Nov 04, 2012 03:11 PM PST NEW YORK (Reuters) - The American Red Cross said on Sunday it regrets not responding sooner to areas on the U.S. East Coast hardest hit by superstorm Sandy and is working aggressively to distribute food, water and other supplies to victims across New York and New Jersey. The privately funded organization blamed flooding and other infrastructure problems for its slow response to the storm, which has killed more than 110 people and caused billions in property damage. The delay in relief response from the Red Cross has been widely criticized by politicians. ... Full Story | Top |
| G20 may punish bank capital reform delinquents: officials Sunday, Nov 04, 2012 02:59 PM PST MEXICO CITY (Reuters) - The world's biggest economies will soon discuss how to punish countries that fail to implement tougher new bank rules in a crucial test of their resolve to prevent another financial crisis, officials said. Countries that miss the deadline for introducing new rules -- called Basel III -- could be named and shamed as the world's top policy makers try to sew up reforms to ring-fence the global economy from problems at financial institutions. ... Full Story | Top |
| Syria mediator wants U.N. resolution based on Geneva deal Sunday, Nov 04, 2012 02:49 PM PST CAIRO (Reuters) - The international mediator on Syria, Lakhdar Brahimi, called on Sunday for world powers to issue a U.N. Security Council resolution based on a deal they reached in June to set up a transitional government in a bid to end the bloodshed. Russian Foreign Minister Sergei Lavrov, speaking at the same Cairo news conference, dismissed the need for a resolution and said others were stoking violence by backing rebels. His comment highlighted divisions and the impasse over Syria's civil war. Russia and China, both permanent council members, have vetoed three Western-backed U.N. ... Full Story | Top |
| Early voting extended at Florida site hit with bomb scare Sunday, Nov 04, 2012 02:30 PM PST MIAMI (Reuters) - Early voting was extended on Sunday at a central Florida polling site that was disrupted a day earlier by a bomb scare, and voters were allowed to cast absentee ballots in person in several other counties that had been plagued by long lines. Saturday was the last day for early voting in Florida, where polls showed Democratic President Barack Obama and Republican challenger Mitt Romney running neck-and-neck. But Orange County Elections Supervisor Bill Cowles reopened the polls at one site, a library in the Orlando suburb of Winter Park, from 1 p.m. to 5 p.m. on Sunday. ... Full Story | Top |
| Massive housing relief needed after Sandy as cold sets in Sunday, Nov 04, 2012 02:14 PM PST NEW YORK (Reuters) - With freezing temperatures forecast, tens of thousands of people hit by superstorm Sandy need temporary housing, New York officials said on Sunday, but it was not immediately clear where they could all be sheltered. The number of homes and businesses without power has fallen to 1.9 million from a peak of 8.5 million since Sandy slammed the U.S. East Coast on Monday, authorities said early Sunday. But nearly 1 million people in New Jersey and almost 730,000 in New York state are still without power, authorities said. ... Full Story | Top |
| Housing crisis looms as storm victims battle cold Sunday, Nov 04, 2012 02:14 PM PST  NEW YORK (Reuters) - A housing crisis loomed in New York City as victims of superstorm Sandy struggled on Sunday without heat in near-freezing temperatures, and officials fretted displaced residents would not be able to vote in Tuesday's presidential election. Fuel shortages and power outages lingered nearly a week after one of the worst storms in U.S. history flooded homes in coastal neighborhoods, leaving many without heat and in need of shelter in New York and New Jersey. ... Full Story | Top |
| Government seeks apartments, hotels for Sandy evacuees Sunday, Nov 04, 2012 02:14 PM PST (Reuters) - U.S. Homeland Security Secretary Janet Napolitano said on Sunday federal agencies are looking for apartments and hotel rooms for people displaced by superstorm Sandy. "Our goal is to try to get people out of the shelters," Napolitano said at a news conference in New Jersey with Governor Chris Christie. Earlier in the day, New York City Mayor Michael Bloomberg estimated the city needs temporary housing for as many as 40,000 city residents. ... Full Story | Top |
| Bloomberg says voting to be big challenge in storm-struck NYC Sunday, Nov 04, 2012 02:08 PM PST (Reuters) - As many as 143,000 New York City voters will have to find new places to vote other than their regular polling locations on Tuesday, Mayor Michael Bloomberg said on Sunday, declaring that local elections officials are having "real problems" coping with disruptions caused by superstorm Sandy. The New York Board of Elections has been scrambling to find alternate sites for balloting with only two days remaining before the presidential election. ... Full Story | Top |
| France could cut labour charges for some sectors: minister Sunday, Nov 04, 2012 01:59 PM PST  PARIS (Reuters) - The French government could propose cutting labour charges for selected sectors and companies as part of its plan to kickstart competitiveness, the junior minister for small and medium-sized business said on Sunday. In an interview with TV channel France 5, Fleur Pellerin said small-to-medium enterprises will play an important role in a government plan due to be outlined on Tuesday, the day after the publication of a government-commissioned report by industrialist Louis Gallois on how to improve competitiveness. ... Full Story | Top |
| Some 143,000 New Yorkers get different post-storm voting sites: mayor Sunday, Nov 04, 2012 01:47 PM PST  NEW YORK (Reuters) - Some 143,000 New York City voters will be reassigned to different polling sites for Tuesday's U.S. presidential election in the wake of superstorm Sandy, Mayor Michael Bloomberg said on Sunday. The Board of Elections informed him of the plan, Bloomberg told a press conference on the recovery from Sandy. "Over the next day it's going to be critical that the Board of Elections communicate this to their poll workers," he said. ... Full Story | Top |
| Israel announces plans to boost Iron Dome missile interceptor Sunday, Nov 04, 2012 01:29 PM PST JERUSALEM (Reuters) - Israel announced plans on Sunday to boost its Iron Dome missile interceptor system, citing successful tests of the largely U.S.-funded system conducted in light of what it called "a variety of unprecedented threats". A Defence Ministry statement said a fifth battery of the rockets used so far to fend off salvoes fired by Palestinian militants in the Gaza Strip, would be added to the system "within a short time" following successful tests of an upgrade. ... Full Story | Top |
| Foreign banks hope China's new leaders will loosen up regulators Sunday, Nov 04, 2012 01:19 PM PST SHANGHAI (Reuters) - For all the hopes that China's forthcoming leadership change will herald a new wave of market reforms, foreign bankers don't expect to get the level playing field they crave any time soon. Trends are positive, but progress can be frustratingly slow. "My outlook is basically optimistic, particularly in the medium term. The near term is always always uncertain," Christian Murck, president of the American Chamber of Commerce in China and independent director of J.P. Morgan Chase (China) Ltd, told Reuters. ... Full Story | Top |
| Fighting rages at Damascus Palestinian camp, 20 killed Sunday, Nov 04, 2012 01:18 PM PST AMMAN (Reuters) - The Syrian army shelled rebel positions inside a Palestinian refugee camp on the edge of Damascus on Sunday killing at least 20 people, opposition campaigners said. The Yarmouk camp, adjacent to the capital's southern entrance, has become the latest battle ground between forces loyal to Bashar al-Assad and rebels fighting to end the president's rule. "Yarmouk is a dense area and shelling it always results in a human catastrophe. ... Full Story | Top |
| South Africa police block opposition from Zuma's home Sunday, Nov 04, 2012 01:17 PM PST  JOHANNESBURG (Reuters) - South African police prevented the country's main opposition leader from using a public road leading to President Jacob Zuma's house in his home village on Sunday, citing safety concerns. South African media have reported the government plans to spend some 250 million rand ($28.61 million) on President Jacob Zuma's home village, angering the opposition Democratic Alliance (DA) which had wanted to deliver letters from school children who lack textbooks, to illustrate where money should be spent. ... Full Story | Top |
| Analysis: Romney is likely to break "day-one" China currency pledge Sunday, Nov 04, 2012 01:07 PM PST  BEIJING (Reuters) - U.S. Presidential candidate Mitt Romney would lack the legal power to label China a currency manipulator on his first day in office should he win Tuesday's election, offering him a way out of what experts say is the weakest claim on the issue for years. The authority to make the formal accusation lies with the U.S. Treasury Secretary, which could be a face-saving remedy former U.S. officials say Romney might need after he repeatedly said he would declare China a currency manipulator, as part of his campaign to suggest President Barack Obama had been soft on the country. ... Full Story | Top |
| North Korea's economic dreams are, well ... dreams Sunday, Nov 04, 2012 01:04 PM PST  DANDONG, China (Reuters) - A lonely farmer and his ox-cart are the only sign of activity on a dusty island meant to be an industrial hub that will raise North Korea's wrecked economy. Despite talk of reform by the secretive state after the third generation of the Kim family dynasty took over nearly a year ago, about all that seems to be growing is the gap between the tiny population of rich and the already malnourished poor. And while the government is hoping to lure in foreign investment, more often the money, and tens of thousands of workers, are heading out of the impoverished North. ... Full Story | Top |
| In China, political ambition comes at a monumental cost Sunday, Nov 04, 2012 12:51 PM PST  TIANJIN, China (Reuters) - Dong Zizhou casts his fishing net from the shore and fixes his gaze on a stand of 15 unfinished skyscrapers rising like concrete skeletons beside the Hai River, heralding China's ambition to develop the world's largest financial centre. The towers in Tianjin's Yujiapu Financial District, and two dozen others on the opposite side of the river, are monuments to the transformation of this once-rundown northern city of 13 million into the country's fastest growing region last year. ... Full Story | Top |
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