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| Fed officials laud stimulus, quibble over future plans Monday, Dec 03, 2012 01:48 PM PST  NEW YORK/LITTLE ROCK, Arkansas (Reuters) - Central bankers appear satisfied with the impact of their latest monetary stimulus, though there is some disagreement over how forcefully to continue purchasing bonds, remarks by two top policymakers on Monday showed. Boston Federal Reserve Bank President Eric Rosengren, one of the most vocal proponents of Fed asset purchases, said there was a "strong case" for the Fed to stay the course on accommodative policies next year and continue buying a total of $85 billion in bonds each month. ... Full Story | Top |
| Indian navy ready to deploy to South China Sea as tensions climb Monday, Dec 03, 2012 06:16 PM PST HANOI/NEW DELHI (Reuters) - India has declared itself ready to deploy naval vessels to the South China Sea to protect its oil-exploration interests there, a potential new escalation of tensions in a disputed area where fears of armed conflict have been growing steadily. India's naval chief made the statement on Monday just as Vietnam's state oil and gas company, Petrovietnam, accused Chinese boats of sabotaging an exploration operation by cutting a seismic cable being towed behind a Vietnamese vessel. ... Full Story | Top |
| Israel says will stick with settlement plan despite condemnation Monday, Dec 03, 2012 06:11 PM PST  JERUSALEM (Reuters) - Israel rejected concerted criticism from the United States and Europe on Monday over Prime Minister Benjamin Netanyahu's decision to expand settlement building after the United Nations' de facto recognition of Palestinian statehood. Washington urged Israel to reconsider its plan to erect 3,000 more homes in the occupied West Bank and East Jerusalem, saying the move hindered peace efforts with the Palestinians. Britain, France, Spain, Sweden and Denmark summoned the Israeli ambassadors in their capitals to give similar messages. ... Full Story | Top |
| Syrian spokesman flees country, diplomat says Monday, Dec 03, 2012 03:19 PM PST CAIRO/BEIRUT (Reuters) - A Syrian foreign ministry spokesman, who was the most public face of Bashar al-Assad's government as it battled a 20-month-old uprising, has fled the country, a diplomat in the region said on Monday. Jihad al-Makdissi, who is in his 40s, previously worked at the Syrian embassy in London and returned to Damascus a year ago to serve as spokesman for the ministry, defending the government's crackdown on the revolt against Assad's rule. He had little influence in a system largely run by the security apparatus and the military. ... Full Story | Top |
| Russia, China urge North Korea to drop rocket launch plan Monday, Dec 03, 2012 01:00 PM PST MOSCOW/BEIJING (Reuters) - Russia and China urged North Korea on Monday not to go ahead with a plan for its second rocket launch of 2012, with Moscow saying any such move would violate restrictions imposed by the U.N. Security Council. North Korea's state news agency on Saturday announced the decision to launch another space satellite and reportedly told neighbors it would take a path similar to that planned for a failed rocket launch in April. "We urgently appeal to the government (of North Korea) to reconsider the decision to launch a rocket," the Russian Foreign Ministry said in a ... Full Story | Top |
| Yahoo sees several flaws in $2.7 billion Mexico ruling: source Monday, Dec 03, 2012 06:45 PM PST  SAN FRANCISCO (Reuters) - Yahoo Inc believes it has "numerous" grounds to appeal a Mexico City civil court's $2.7 billion preliminary judgment against the company, including both errors in procedure and in application of law, a person familiar with the matter told Reuters on Monday. The ruling in the case, which involves allegations of breach of contract related to an online yellow pages listings service, was made by the 49th Civil Court of the Federal District of Mexico City, Yahoo said on Friday. ... Full Story | Top |
| SEC charges China affiliates of top accounting firms Monday, Dec 03, 2012 06:03 PM PST  WASHINGTON/NEW YORK (Reuters) - U.S. regulators on Monday charged the Chinese arms of five top accounting firms with securities violations over their refusal to produce certain audit papers for U.S.-listed Chinese companies. The Securities and Exchange Commission began proceedings against the Chinese affiliates of Deloitte, KPMG, PricewaterhouseCoopers, BDO and Ernst & Young. The agency on Monday also moved to pursue a case they had put on hold against Deloitte. It was the SEC's widest enforcement effort yet to procure documents in connection with probes of possible accounting fraud of U.S. ... Full Story | Top |
| Murdoch keeps News Corp name, Thomson becomes publishing CEO Monday, Dec 03, 2012 11:25 AM PST  (Reuters) - Rupert Murdoch tapped Wall Street Journal managing editor Robert Thomson, a close confidant with little experience on the business side of publishing, as Chief Executive of his new publishing company, which will retain the News Corp name. Thomson's appointment coincided with several other announcements related to the impending publishing company spin-off, including the closing of The Daily, the heavily-hyped digital newspaper for Apple Inc's iPad, and the naming of other key executives. ... Full Story | Top |
| UK's Prince William and wife Kate expecting a baby Monday, Dec 03, 2012 11:23 AM PST LONDON (Reuters) - Britain's Prince William and his wife Catherine are expecting a baby, destined to be the country's future monarch, although the mother-to-be is in hospital with a type of very acute morning sickness that sometimes indicates twins. "Their Royal Highnesses The Duke and Duchess of Cambridge are very pleased to announce that The Duchess of Cambridge is expecting a baby," the prince's office said in a statement on Monday, adding that Queen Elizabeth and the royal family were delighted. ... Full Story | Top |
| Congo back in charge of Goma, U.N. fingers Rwanda again Monday, Dec 03, 2012 03:47 PM PST  GOMA, Democratic Republic of Congo (Reuters) - Congo's government re-established control over the eastern city of Goma on Monday after rebels withdrew, and U.N. experts made new allegations that Rwandan soldiers took part in the insurgents' capture of the city. The M23 rebel movement pulled its fighters out of the North Kivu provincial capital in eastern Democratic Republic of Congo (DRC) on Saturday after seizing it from fleeing U.N.-backed government forces and holding it for 11 days. ... Full Story | Top |
| Yahoo sees several flaws in $2.7 billion Mexico ruling: source Monday, Dec 03, 2012 03:33 PM PST  SAN FRANCISCO (Reuters) - Yahoo Inc believes it has "numerous" grounds to appeal a Mexico City civil court's $2.7 billion preliminary judgment against the company, including both errors in procedure and in application of law, a person familiar with the matter told Reuters on Monday. The ruling in the case, which involves allegations of breach of contract related to an online yellow pages listings service, was made by the 49th Civil Court of the Federal District of Mexico City, Yahoo announced on Friday. The lawsuit was brought by Worldwide Directories S.A. de C.V. and Ideas Interactivas S.A. ... Full Story | Top |
| Manufacturing contracts to weakest in three years Monday, Dec 03, 2012 09:51 AM PST  NEW YORK (Reuters) - Manufacturing unexpectedly contracted in November to its lowest level in more than three years, as companies worried about whether lawmakers in Washington could reach a budget deal in time avert a crisis that many fear could lead to a recession. The Institute for Supply Management (ISM) said on Monday that its index of national factory activity fell to 49.5 in November from 51.7 the month before. The reading was shy of expectations of 51.3, according to a Reuters poll of economists. The figure was the softest since July 2009 when the U.S. ... Full Story | Top |
| Israel says will stick with settlement plan despite condemnation Monday, Dec 03, 2012 11:32 AM PST  JERUSALEM (Reuters) - Israel rejected concerted criticism from the United States and Europe on Monday over Prime Minister Benjamin Netanyahu's decision to expand settlement building after the United Nations' de facto recognition of Palestinian statehood. Washington urged Israel to reconsider its plan to erect 3,000 more homes in the occupied West Bank and East Jerusalem, saying the move hindered peace efforts with the Palestinians. Britain, France, Spain, Sweden and Denmark summoned the Israeli ambassadors in their capitals to give similar messages. ... Full Story | Top |
| Chinese factories grow again, but U.S. sector shrinks Monday, Dec 03, 2012 09:49 AM PST  NEW YORK/LONDON (Reuters) - Chinese manufacturing output grew last month for the first time in more than a year but a surprise contraction in U.S. factory activity tempered optimism about the health of the world economy on Monday. Business surveys also showed the euro zone's manufacturing sector shrank for a 16th straight month, though a little less rapidly than in October. A rise in HSBC's China manufacturing PMI to 50. ... Full Story | Top |
| Egypt judicial council to oversee referendum Monday, Dec 03, 2012 09:01 AM PST  CAIRO (Reuters) - Egypt's Supreme Judicial Council has cleared the way for a referendum on a new constitution which President Mohamed Mursi hopes will end a political crisis that has split the country. Some judges had called for their colleagues to shun the December 15 plebiscite, which must be supervised by the judiciary like all elections in Egypt. But the council's decision suggests enough officials can be mobilized to oversee the vote. ... Full Story | Top |
| Israel says security agents kill Palestinian ax-man in West Bank Monday, Dec 03, 2012 08:42 AM PST  JERUSALEM (Reuters) - A Palestinian motorist rammed an Israeli army jeep carrying intelligence officers in the occupied West Bank and then attacked them with an ax before being shot dead on Monday, Israeli officials said. They said two occupants of the jeep were wounded in the incident, which police said took place on a road outside the Jewish settlement of Shavei Shomron, west of the Palestinian city of Nablus. Palestinian witnesses identified the dead man as Hatem Shadid of the nearby village of Alar. ... Full Story | Top |
| Fed's Bullard urges smaller bond buys to replace Twist Monday, Dec 03, 2012 12:08 PM PST  LITTLE ROCK, Arkansas (Reuters) - The Federal Reserve could replace its expiring Operation Twist with a smaller program of outright Treasury purchases and still give the same boost to the economy, a senior U.S. central bank said on Monday. St. Louis Federal Reserve Bank President James Bullard said simply replacing the scale of Twist, under which the Fed buys $45 billion in long-term Treasuries each month, and sells a like amount of short-term Treasuries, could stoke inflation. ... Full Story | Top |
| High court delays action on same-sex marriage cases Monday, Dec 03, 2012 12:13 PM PST  WASHINGTON (Reuters) - The U.S. Supreme Court on Monday put off deciding whether to enter the legal fray over same-sex marriage - at least until Friday when it could agree to hear one of several pending appeals on the issue. The court's nine justices met in private last Friday to consider whether to review challenges to the U.S. Defense of Marriage Act, which denies federal benefits to married same-sex couples, and to California's gay marriage ban, known as Proposition 8. In an "orders list" issued early on Monday, the court made no mention of any of the same-sex marriage cases. ... Full Story | Top |
| Ukraine cabinet quits, prime minister's future uncertain Monday, Dec 03, 2012 07:46 AM PST  KIEV (Reuters) - Ukrainian President Viktor Yanukovich accepted the resignation of Prime Minister Mykola Azarov's government on Monday, without indicating whether he would re-appoint the long-time ally ahead of tough IMF loan talks. The move had been expected after several cabinet members including Azarov were elected to parliament on October 28, something which obliges them to give up their ministerial roles. Yanukovich told Azarov's government to stay on in an interim capacity, according to a decree published on the presidential website, and some commentators said he may keep the same team. ... Full Story | Top |
| Russia, China urge North Korea to drop rocket launch plan Monday, Dec 03, 2012 06:52 AM PST  MOSCOW/BEIJING (Reuters) - Russia and China urged North Korea on Monday not to go ahead with a plan for its second rocket launch of 2012, with Moscow saying any such move would violate restrictions imposed by the U.N. Security Council. North Korea's state news agency on Saturday announced the decision to launch another space satellite and reportedly told neighbors it would take a similar path to that planned for a failed rocket launch in April. "We urgently appeal to the government (of North Korea) to reconsider the decision to launch a rocket," the Russian Foreign Ministry said in a ... Full Story | Top |
| Greek bond buyback offer tops expectations Monday, Dec 03, 2012 09:07 AM PST  ATHENS (Reuters) - Greece said it would spend 10 billion euros to buy back bonds at a price range that topped market expectations, boosting hopes it can cut its ballooning debt and unlock long-delayed aid. A successful buyback is central to the efforts of Greece's foreign lenders to put the near-bankrupt country's debt back on a sustainable footing and would clear the way for the funding Athens needs to avoid running out of cash. ... Full Story | Top |
| Britain appeals court decision to block cleric Qatada's deportation Monday, Dec 03, 2012 05:46 AM PST  LONDON (Reuters) - Britain said on Monday it had appealed against a court decision to block the deportation to Jordan of radical Muslim cleric Abu Qatada, accused by London of being a huge security risk and a spiritual inspiration for one of the 9/11 hijackers. Qatada is wanted by Jordan to face terrorism charges. British governments have for years tried to get rid of the cleric, who has been in and out of jail for a decade since first being arrested in 2001 and is currently on bail under tight restrictions which include a 16-hour curfew. ... Full Story | Top |
| Netanyahu brushes off world condemnation of settlement plans Monday, Dec 03, 2012 06:46 AM PST  JERUSALEM (Reuters) - Prime Minister Benjamin Netanyahu on Sunday brushed off world condemnation of Israel's plans to expand Jewish settlements after the Palestinians won de facto U.N. recognition of statehood. "We will carry on building in Jerusalem and in all the places that are on the map of Israel's strategic interests," a defiant Netanyahu said at the weekly cabinet meeting. In another blow to the Palestinian Authority in the West Bank, Israel announced it was withholding Palestinian tax revenues this month worth about $100 million. ... Full Story | Top |
| Factory surveys show China reviving, global rebound fragile Monday, Dec 03, 2012 02:46 AM PST  BEIJING (Reuters) - China's economy picked up in November but a broader global recovery remains fragile and patchy, a clutch of factory surveys suggested on Monday, with activity elsewhere in Asia remaining subdued amid depressed demand from the developed world. The euro zone, where factory surveys are due later, is on course for its worst quarter since the depths of the global financial crisis in early 2009. The U.S. picture is brighter, but manufacturing growth is still seen slowing in the fourth quarter. ... Full Story | Top |
| More mannequins, less clutter at heart of J.C. Penney plan Monday, Dec 03, 2012 05:08 AM PST  NEW YORK (Reuters) - More mannequins are on the floors of J.C. Penney stores. About 40,000 more. They are one of the most visible changes J.C. Penney Co Inc Chief Creative Officer Michael Fisher has made to try to revive the 110-year-old department store chain, whose sales plunged 26.6 percent last quarter and whose shares have tumbled more than 50 percent this year. Penney has a plan to transform its 700 larger stores by 2015: each store will contain 100 boutiques, offering brand-name fashion and home merchandise ranging from Levi's to PVH Corp's Izod to Martha Stewart. ... Full Story | Top |
| EADS confirms shareholder shake-up talks Monday, Dec 03, 2012 03:40 AM PST  PARIS (Reuters) - Shares in EADS rose on Monday as European nations raced towards a deal aimed at overhauling a convoluted shareholder structure at Europe's largest aerospace group. The Airbus parent company said it was in talks on the company's ownership with France, German and Spain, confirming press reports. People familiar with the matter said the talks involved a sweeping re-arrangement of government stakes, coupled with a staged exit of its industrial partners, reducing big shareholder blocks below 30 percent instead of more than 50 percent. ... Full Story | Top |
| Egypt's top court shuts down, blames protesters Sunday, Dec 02, 2012 09:18 PM PST  CAIRO (Reuters) - Protests by Islamists allied to President Mohamed Mursi forced Egypt's highest court to adjourn its work indefinitely on Sunday, intensifying a conflict between some of the country's top judges and the head of state. The Supreme Constitutional Court said it would not convene until its judges could operate without "psychological and material pressure", saying protesters had stopped the judges from reaching the building. ... Full Story | Top |
| Analysis: In U.S. "fiscal cliff" maneuvers it's all about the holiday Sunday, Dec 02, 2012 10:03 PM PST  WASHINGTON (Reuters) - Watching the events of the past few weeks, you could have gotten the idea that the United States is not only going to slip from the "fiscal cliff" but jump lemming-like off it. President Barack Obama presented last week a proposal that upset Republicans with its $1.6 trillion in revenue increases and limited spending cuts and then goaded them while on the road at a toy factory with jokes meant to paint the Republicans as Scrooges. His main Republican sparring partner, Speaker of the U.S. ... Full Story | Top |
| Analysis: Greek deal puts euro zone in slow recovery room Sunday, Dec 02, 2012 09:35 PM PST  PARIS (Reuters) - The euro zone is in the recovery room now the danger of a Greek default has been averted for a couple of years, but it is not yet safe from a Japanese-style "lost decade". The currency area's escape route hinges more on the pace of expansion in the United States and China, lifting the world economy, than on the policy mix in Europe, which will continue to favour austerity over growth in 2013. ... Full Story | Top |
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