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| Obama promotes tax agenda, Congress in stand-off Tuesday, Nov 27, 2012 06:25 PM PST  WASHINGTON (Reuters) - President Barack Obama on Tuesday launched a public relations push for his bid to raise taxes on wealthy Americans, but U.S. lawmakers remained deadlocked over dramatic, year-end tax increases and spending cuts known as the "fiscal cliff." At the White House, small business leaders emerged from a one-hour meeting with Obama to voice support for his goal of extending low tax rates for the middle class beyond the end of the year, while letting rates rise for wealthier taxpayers. ... Full Story | Top |
| Syria launches air strikes as combat rages in Damascus Tuesday, Nov 27, 2012 03:43 PM PST  BEIRUT (Reuters) - Syrian war planes attacked towns in the country's north and east and killed at least five civilians in a strike on an olive oil press as fighting raged in the capital Damascus on Tuesday, opposition activists said. The latest fighting follows recent battlefield gains by the rebels in their struggle to topple President Bashar al-Assad, but it is far from clear if a strategic breakthrough is likely. More than 90 people were killed on Tuesday, according to the Syrian Observatory for Human Rights, a Britain-based group. ... Full Story | Top |
| Fed's Evans wants more easing, Fisher wants limits Tuesday, Nov 27, 2012 06:50 PM PST  TORONTO/BERLIN (Reuters) - Deep divisions at the Federal Reserve were on display on Tuesday, just two weeks before the U.S. central bank's next policy-setting meeting, with one top Fed official pushing for more easing, and another advocating limits. The divide underscores the hurdles Fed Chairman Ben Bernanke faces as he tries to win consensus among his fellow policymakers on the central bank's sometimes controversial efforts to bring down the nation's lofty unemployment rate, which registered 7.9 percent last month. ... Full Story | Top |
| Greece, markets satisfied by EU-IMF Greek debt deal Tuesday, Nov 27, 2012 01:58 PM PST  BRUSSELS (Reuters) - The Greek government and financial markets were cheered on Tuesday by an agreement between euro zone finance ministers and the International Monetary Fund to reduce Greece's debt, paving the way for the release of urgently needed aid loans. The deal, clinched at the third attempt after weeks of wrangling, removes the biggest risk of a sovereign default in the euro zone for now, ensuring the near-bankrupt country will stay afloat at least until after a 2013 German general election. ... Full Story | Top |
| Report challenges key Pentagon spending assumption Tuesday, Nov 27, 2012 05:58 PM PST  WASHINGTON (Reuters) - As the U.S. military grappled with budget cuts over the past year, one thing Defense Secretary Leon Panetta made clear was the Pentagon must avoid reductions in training and maintenance that would lower the force's readiness to fight. But a report released by a Washington think tank on Tuesday challenged that assumption, concluding that a short-term cut in readiness funding could free up cash to develop weapons and equipment needed to be ready in the future. ... Full Story | Top |
| Rice meeting with senators fails to dampen criticism Tuesday, Nov 27, 2012 05:04 PM PST  WASHINGTON (Reuters) - U.S. Ambassador to the United Nations Susan Rice on Tuesday conceded that an early account she gave about the attack on the U.S. mission in Benghazi, Libya, was partly inaccurate, but her admission failed to win over Republican senators who accused her of misleading the public. Rice met for about an hour behind closed doors at the U.S. Capitol with Republican Senators John McCain, Lindsey Graham and Kelly Ayotte, who have threatened to block her nomination if President Barack Obama chooses her for secretary of state or another top post in his second-term Cabinet. ... Full Story | Top |
| HP rebuffs ex-Autonomy CEO, warns of legal action Tuesday, Nov 27, 2012 11:47 AM PST  SAN FRANCISCO (Reuters) - Hewlett Packard Co rebuffed a request by former Autonomy Chief Executive Mike Lynch to detail accusations of accounting fraud leveled against the British software company and its former executives, and challenged Lynch to submit to questions under penalty of perjury. HP was responding to an open letter that Lynch shot to HP's board on Tuesday, asking for specifics of the U.S. company's allegations that Lynch and former Autonomy executives inflated revenue and gross margins, which HP said last week forced it to take an $8.8 billion writedown on Autonomy's value. ... Full Story | Top |
| Merchants appeal $7.2 billion card-fee settlement Tuesday, Nov 27, 2012 01:24 PM PST  NEW YORK (Reuters) - A group of retailers on Tuesday appealed a court order preliminarily approving a $7.2 billion settlement between Visa Inc, Mastercard Inc and merchants over credit card fees, saying it violated their rights by preventing them from opting out of the pact. U.S. District Judge John Gleeson in Brooklyn federal court gave the settlement his initial stamp of approval earlier this month. If the deal receives final approval, it would be the largest federal antitrust settlement in U.S. history, offering nearly 8 million merchants $7. ... Full Story | Top |
| Judge orders tobacco companies to admit deception Tuesday, Nov 27, 2012 05:26 PM PST  WASHINGTON (Reuters) - Major tobacco companies that spent decades denying they lied to the U.S. public about the dangers of cigarettes must spend their own money on a public advertising campaign saying they did lie, a federal judge ruled on Tuesday. The ruling sets out what might be the harshest sanction to come out of a historic case that the Justice Department brought in 1999 accusing the tobacco companies of racketeering. U.S. District Judge Gladys Kessler wrote that the new advertising campaign would be an appropriate counterweight to the companies' "past deception" dating to at least ... Full Story | Top |
| Egyptians challenge Mursi in nationwide protests Tuesday, Nov 27, 2012 03:09 PM PST  CAIRO (Reuters) - Tens of thousands of Egyptians rallied on Tuesday against President Mohamed Mursi in one of the biggest outpourings of protest since Hosni Mubarak's overthrow, accusing the Islamist leader of seeking to impose a new era of autocracy. Police fired tear gas at stone-throwing youths in streets near the main protest in Cairo's Tahrir Square, heart of the uprising that toppled Mubarak last year. Clashes between Mursi's opponents and supporters erupted in a city north of Cairo. ... Full Story | Top |
| Samples taken from Arafat corpse for poison tests Tuesday, Nov 27, 2012 11:21 AM PST  RAMALLAH, West Bank (Reuters) - Forensic experts took samples from Yasser Arafat's corpse in the West Bank on Tuesday, trying to determine if he was murdered with the hard-to-trace radioactive poison, polonium. Palestinians witnessed the funeral of their hero and longtime leader eight years ago, but conspiracy theories surrounding his death have never been laid to rest. Many are convinced their icon was the victim of assassination by Israeli agents, and may have been poisoned wittingly or unwittingly by a Palestinian. They may remain convinced of that, whatever the outcome of this autopsy. ... Full Story | Top |
| Obama promotes tax agenda, Congress in stand-off Tuesday, Nov 27, 2012 03:31 PM PST  WASHINGTON (Reuters) - President Barack Obama on Tuesday launched a public relations push for his bid to raise taxes on wealthy Americans, but U.S. lawmakers remained deadlocked over dramatic, year-end tax increases and spending cuts known as the "fiscal cliff." At the White House, small business leaders emerged from a one-hour meeting with Obama to voice support for his goal of extending low tax rates for the middle class beyond the end of the year, while letting rates rise for wealthier taxpayers. ... Full Story | Top |
| ACLU sues over policy barring women from combat Tuesday, Nov 27, 2012 01:50 PM PST  SAN FRANCISCO (Reuters) - The American Civil Liberties Union and four servicewomen sued the U.S. Defense Department on Tuesday to end a ban on women in combat, calling the military the last bastion of discrimination by the federal government and saying modern warfare has already put women in the line of fire. The civil rights group argued in a legal complaint filed in federal court in Northern California that the military policy barring women from roles primarily focused on combat solely because of their gender was unconstitutional. ... Full Story | Top |
| Judge orders tobacco companies to admit deception Tuesday, Nov 27, 2012 03:34 PM PST WASHINGTON (Reuters) - Major tobacco companies that spent decades denying they lied to the U.S. public about the dangers of cigarettes must spend their own money on a public advertising campaign saying they did lie, a federal judge ruled on Tuesday. The ruling sets out what might be the harshest sanction to come out of a historic case that the Justice Department brought in 1999 accusing the tobacco companies of racketeering. U.S. District Judge Gladys Kessler wrote that the new advertising campaign would be an appropriate counterweight to the companies' "past deception" dating to at least ... Full Story | Top |
| Rice meeting with U.S. senators fails to dampen criticism Tuesday, Nov 27, 2012 02:50 PM PST WASHINGTON (Reuters) - U.S. Ambassador to the United Nations Susan Rice on Tuesday conceded that an early account she gave about the attack on the U.S. mission in Benghazi, Libya, was partly inaccurate, but she failed to win over Republican senators who accused her of misleading the public. Rice met for about an hour behind closed doors at the U.S. Capitol with Republican Senators John McCain, Lindsey Graham and Kelly Ayotte, who have threatened to block her nomination if President Barack Obama chooses her for Secretary of State or another top post in his second-term Cabinet. ... Full Story | Top |
| Obama to meet executives, go to Pennsylvania for fiscal push Tuesday, Nov 27, 2012 10:55 AM PST  WASHINGTON (Reuters) - President Barack Obama will launch a multipronged push this week to garner support for his proposals to solve U.S. fiscal problems, meeting with business executives at the White House and visiting a small business in Pennsylvania to press his case. Obama has sought to go on the offensive since his re-election on November 6 in the fight with Republicans over the "fiscal cliff" - a combination of tax increases and spending cuts that would go into effect next year if the two sides do not reach a deal to stop it. ... Full Story | Top |
| Business spending plans improve despite fiscal cloud Tuesday, Nov 27, 2012 01:32 PM PST WASHINGTON (Reuters) - A gauge of planned U.S. business spending increased in October by the most in five months, raising cautious optimism that the sharp cutbacks in capital investment during the summer are abating. Fears of deep reductions in government spending and big tax hikes early next year, a combination known as the fiscal cliff, had caused firms to hunker down. But orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose 1.7 percent last month, the Commerce Department said on Tuesday. ... Full Story | Top |
| November consumer confidence hits more than four-year high Tuesday, Nov 27, 2012 08:00 AM PST  NEW YORK (Reuters) - Consumer confidence rose to a four-and-a-half-year high in November as consumers became more optimistic about the outlook for the economy, according to a private sector report released on Tuesday. The Conference Board, an industry group, said its index of consumer attitudes rose to 73.7 up from an upwardly revised 73.1 the month before, its highest since February 2008. Economists had expected a reading of 73.0, according to a Reuters poll. October was originally reported as 72.2. ... Full Story | Top |
| ConAgra finally wins Ralcorp in $5 billion store-brand food bet Tuesday, Nov 27, 2012 12:50 PM PST  (Reuters) - ConAgra Foods Inc sealed a deal to buy Ralcorp Holdings Inc for $5 billion, more than a year and a half after first bidding on it, turning the maker of Chef Boyardee pasta into the top U.S. producer of store-branded foods. ConAgra said on Tuesday it will pay $90 per share in cash, a premium of 28 percent to Ralcorp shares' closing price on Monday. The deal creates a packaged food giant with $18 billion in annual sales -- from branded foods like Slim Jim meat snacks and Hunt's ketchup to foods that stores brand as their own. ... Full Story | Top |
| Palestinians say no rush to join international court after U.N. vote Tuesday, Nov 27, 2012 02:21 PM PST UNITED NATIONS (Reuters) - The Palestinians will not rush to sign up to the International Criminal Court if they win a U.N. status upgrade on Thursday, but warned that seeking action against Israel in the court would remain an option, said the Palestinian U.N. observer. The Palestinians appear certain to earn approval in the 193-member U.N. General Assembly for a status upgrade to "observer state" - similar to the Vatican's rank - from observer "entity." The move would implicitly recognize Palestinian statehood. ... Full Story | Top |
| France to back Palestinian U.N. status Tuesday, Nov 27, 2012 06:54 AM PST PARIS (Reuters) - France said on Tuesday it would vote in favour of Palestinian non-member status at the United Nations, boosting Palestinian efforts to secure greater international recognition. Frustrated that their bid for full U.N. membership last year was thwarted by U.S. opposition in the U.N. Security Council, Palestinians have launched a watered-down bid for recognition as a non-member state, similar to the status the Vatican enjoys. The proposal, which is due to be put to the vote in the General Assembly at the end of the week, would implicitly recognize Palestinian statehood. ... Full Story | Top |
| Congo rebels say will withdraw from Goma Tuesday, Nov 27, 2012 12:19 PM PST  GOMA, Democratic Republic of Congo (Reuters) - Rebels in the Democratic Republic of Congo said on Tuesday they would pull out of the eastern city of Goma in an apparent stalling of their drive to "liberate" the whole country. However, the situation on the ground remained far from clear after the rebels' political and military leaders gave conflicting statements over their intentions. ... Full Story | Top |
| Satellite photo shows increased activity at North Korean launch site Tuesday, Nov 27, 2012 05:45 AM PST  WASHINGTON (Reuters) - A new satellite image shows a marked increase in activity at a North Korean missile launch site, pointing to a possible long-range ballistic missile test by Pyongyang in the next three weeks, according to satellite operator DigitalGlobe Inc. The imagery was released days after a Japanese newspaper, the Asahi Shimbun, reported that U.S. intelligence analysts had detected moves that were seen as preparation by North Korea for a long-range missile launch as early as this month. DigitalGlobe, which provides commercial satellite imagery to the U.S. ... Full Story | Top |
| China defense chief says military buildup no threat to the world Tuesday, Nov 27, 2012 05:28 AM PST  BEIJING (Reuters) - China's military buildup poses no threat to the world, Defense Minister Liang Guanglie said on Tuesday, in an effort to allay fears among Asian neighbors amid long-running maritime disputes. The United States, Japan and many other Southeast Asian states have frequently expressed worries about China's double-digit defense spending increases and expanding naval reach, saying Beijing's plans lack transparency. "There is absolutely no need for that," Liang told Reuters, when asked about neighbors' concerns. ... Full Story | Top |
| Japan's ruling party casts itself as reasonable, diplomatic Tuesday, Nov 27, 2012 02:37 AM PST  TOKYO (Reuters) - Japan's ruling Democrats cast themselves on Tuesday as the voice of reason on diplomacy and the economy as they headed for a general election, highlighting a contrast with the hawkish rhetoric and aggressive monetary policy recipes of their rivals. Prime Minister Yoshihiko Noda and his party vowed to defend national interests, including a chain of rocky East China Sea islets controlled by Japan but also claimed by China and Taiwan, but would do so with diplomacy and "responsible defense. ... Full Story | Top |
| Air strike on Syrian olive press kills, wounds dozens Tuesday, Nov 27, 2012 04:16 AM PST BEIRUT (Reuters) - A Syrian military air strike killed and wounded dozens of people when it hit an olive oil press near the northern city of Idlib on Tuesday, activists said. Activist Tareq Abdelhaq said at least 20 people were killed and 50 wounded in the attack, citing residents near the Abu Hilal olive oil press, 2 km (1.2 miles) west of Idlib city. The Syrian Observatory for Human Rights said it could only confirm five deaths. ... Full Story | Top |
| Insight: Sandy gives New York oil supply lesson Tuesday, Nov 27, 2012 05:10 AM PST  NEW YORK (Reuters) - At 4 p.m. on October 29, as heavy winds battered the East Coast ahead of Superstorm Sandy's landfall, the Coast Guard's regional command center on Staten Island lost power and its hulking backup generators hummed into action. Commander Linda Sturgis, who oversees emergency prevention at the Port of New York, was buzzed through two thick security doors into the Port's hive-like vessel traffic center, the maritime equivalent of an air traffic control tower. ... Full Story | Top |
| Schapiro stepping down at SEC, Walter to step in Tuesday, Nov 27, 2012 07:32 AM PST  WASHINGTON (Reuters) - The head of the U.S. Securities and Exchange Commission, Mary Schapiro, will step down next month after a tumultuous four years spent rehabilitating the agency's battered reputation, handing the reins temporarily to a close ally. SEC Commissioner Elisse Walter, a career regulator who has sided with Schapiro on most of the critical issues before the agency, was named chairman-designate and could serve until December 2013, buying time for President Barack Obama to win Senate approval for a long-term replacement. ... Full Story | Top |
| Germany will back Greek aid but wary of hints at haircut Tuesday, Nov 27, 2012 03:47 AM PST  BERLIN (Reuters) - German lawmakers are likely to approve the release of Greek aid immediately despite suspicions that talks of a debt write-down have just been delayed until after Germany's 2013 elections. Chancellor Angela Merkel's center-right coalition and the opposition Social Democrats (SPD) said on Tuesday that the Greek deal agreed overnight would be put to the vote in the Bundestag lower house on Thursday or Friday. With both sides voicing support, approval is guaranteed but the question will be whether the chancellor can rely on her coalition or needs the votes of the SPD and Greens. ... Full Story | Top |
| Euro zone, IMF secure deal on cutting Greek debt Tuesday, Nov 27, 2012 02:27 AM PST  BRUSSELS (Reuters) - Euro zone finance ministers and the International Monetary Fund clinched agreement on reducing Greece's debt on Monday in a breakthrough to release urgently needed loans to keep the near-bankrupt economy afloat. After 12 hours of talks at their third meeting in as many weeks, Greece's international lenders agreed on a package of measures to reduce Greek debt by 40 billion euros, cutting it to 124 percent of gross domestic product by 2020. ... Full Story | Top |
| Analysis: Despite 2011 disaster, pro-nuclear party could win power in Japan Tuesday, Nov 27, 2012 12:29 AM PST  TOKYO (Reuters) - Japanese voters look likely to hand victory to a party that favours nuclear power in the first election since the March 2011 Fukushima radiation disaster - a result a baffled Greenpeace activist likens to one of the "wonders of the world". But even if the main opposition Liberal Democratic Party (LDP) wins the December 16 election, it will not reflect any groundswell of popular support for nuclear power. ... Full Story | Top |
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