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| JPMorgan hiring in China under U.S. scrutiny: report Saturday, Aug 17, 2013 09:06 PM PDT  (Reuters) - U.S. authorities have opened an investigation into whether JPMorgan Chase & Co hired the children of powerful Chinese officials to help it win business in China, the New York Times said on Saturday. A report posted in the Times' online edition cited a confidential U.S. government document as its source for the story. The Times said the bank hired Tang Xiaoning, the son of Tang Shuangning, a former Chinese banking regulator who is now the chairman of the China Everbright Group, a state-controlled financial conglomerate. ... Full Story | Top |
| Analysis: Higher prices sap foreign interest in U.S. real estate Saturday, Aug 17, 2013 09:03 PM PDT  By Julie Haviv NEW YORK (Reuters) - Foreign investors, who rapaciously scooped up U.S. real estate during the 2007-2009 recession, are backing away from the same markets they so eagerly jumped into a few years ago. Real estate brokers say demand from international investors has flagged in locations that have been most attractive to overseas buyers - markets such as San Francisco, Phoenix, Las Vegas and Miami. Many of those markets are back on solid footing after stumbling during the housing crisis. ... Full Story | Top |
| China July month-on-month home prices slow for fourth month Saturday, Aug 17, 2013 08:38 PM PDT  By Xiaoyi Shao and Benjamin Kang Lim BEIJING (Reuters) - China's monthly property inflation moderated for a fourth straight month in July, although annual gains were the strongest this year, complicating policymakers' task of trying to cool the sector without stifling growth elsewhere. Real estate, which directly affects about 40 other business sectors in China, is considered to be one of the crucial drivers of activity in the world's second-largest economy. ... Full Story | Top |
| Wall Street Week Ahead: Undervalued euro shares a hurdle for U.S. stocks Saturday, Aug 17, 2013 07:57 PM PDT  By Angela Moon NEW YORK (Reuters) - After Wall Street's biggest weekly decline since June and the worst week this year for the Dow average, investors will be searching for a rebound. But the best gains may not be at home as investors take notice of an improved outlook in Europe. Fund managers have started to shift to euro-zone equities after a series of economic indicators showed the region finally emerging from recession. The region outperformed U.S. stocks in recent weeks, ending 0.2 percent higher this week while Wall Street underwent a 2 percent loss. ... Full Story | Top |
| SAILING-Damaged New Zealand boat takes first race in America's Cup challenger finals Saturday, Aug 17, 2013 05:38 PM PDT By Ronnie Cohen SAN FRANCISCO, Aug 17 (Reuters) - By Ronnie Cohen SAN FRANCISCO, August 17 (Reuters) - Mishaps plagued the first race in the America's Cup challenger finals on Saturday, as a broken daggerboard forced the Italian boat to drop out seconds after the start, allowing New Zealand to sail alone to win even after two crew member were washed overboard. Support boats rescued the unharmed sailors from the choppy waters as Emirates Team New Zealand continued sailing the course around windy San Francisco Bay with a torn trampoline faring. ... Full Story | Top |
| Philippines suspends hunt for ferry disaster survivors; 32 dead, 170 missing Saturday, Aug 17, 2013 04:58 PM PDT  By Enrique de Castro CEBU, Philippines (Reuters) - Worsening weather and sea conditions on Saturday forced the Philippines to suspend a search for survivors of a ferry disaster that killed at least 32 people and left 170 missing, authorities said. The ferry sank on Friday after a collision just outside the central port of Cebu with a cargo vessel owned by a company involved in the world's worst peacetime maritime disaster nearly 30 years ago. ... Full Story | Top |
| Ill-fated UPS jet was on autopilot seconds before crash Saturday, Aug 17, 2013 04:56 PM PDT  By Verna Gates BIRMINGHAM, Alabama (Reuters) - The UPS cargo jet that crashed in Alabama this week, killing its two crew members, was flying on autopilot until seconds before impact, even after an alert that it was descending too quickly, authorities said on Saturday "The autopilot was engaged until the last second of recorded data," said Robert Sumwalt, a senior official with the National Transportation Safety Board. ... Full Story | Top |
| Bolt needs a worthy challenge to remain top draw Saturday, Aug 17, 2013 12:07 PM PDT  By Mitch Phillips MOSCOW (Reuters) - Usain Bolt is undoubtedly the biggest name in world sport but unless someone emerges who is able to realistically challenge his hegemony then even the majestic Jamaican might begin to lose some of his stardust. Bolt completed another sprint double when he added the world 200 meters title to the 100 he took last Sunday but his victory left something of a hollow feeling, achieved as it was with him easing up in the last 15 meters. ... Full Story | Top |
| Lincolns join Bugattis at Pebble Beach Concours d'Elegance car show Saturday, Aug 17, 2013 09:48 AM PDT  By Paul Ingrassia PEBBLE BEACH, California (Reuters) - Before dawn on Sunday when the fog rolls off the Pacific Ocean onto the fabled Pebble Beach golf course, 260 historic cars will roll onto the 18th fairway for the 63rd annual Concours d'Elegance classic car show. Among them will be Hispano-Suizas, Duesenbergs, Bugattis, Bentleys, Lamborghinis and Lincolns. That's right, Lincolns. Ford Motor Co is trying to revive its luxury brand, which has been dormant for decades. ... Full Story | Top |
| Dutch minister's call for EU migration reform reflects eurosceptic mood Saturday, Aug 17, 2013 09:00 AM PDT By Thomas Escritt AMSTERDAM (Reuters) - The Dutch deputy premier has called for the European Union to deal with the "negative consequences" of unprecedented levels of labor migration within the bloc, calling for a new common approach to one of the EU's most cherished principles. Lodewijk Asscher, who is also social affairs minister, wrote in De Volkskrant newspaper on Saturday that migration from the poorer, newer entrants to the 28-member European Union was crowding some western Europeans out of the labor market. ... Full Story | Top |
| Huge donation awaits UK Treasury - but there's a hitch Saturday, Aug 17, 2013 07:10 AM PDT LONDON (Reuters) - An anonymous half-million pound bequest to Britain has mushroomed to 350 million pounds ($546 million) since it was made 85 years ago, trustee Barclays Bank said on Saturday - but London lawmakers can not get their hands on it. The donor left the money in 1928, but said it should only be handed over once Britain had amassed enough funds to pay off its entire national debt, which now totals 1.2 trillion pounds. ... Full Story | Top |
| Regulator probes Deutsche Bank over money laundering controls: report Saturday, Aug 17, 2013 06:17 AM PDT  FRANKFURT (Reuters) - German regulator BaFin is looking into whether Deutsche Bank should improve the controls it has in place against money laundering, a German paper reported. In BaFin's view, Germany's largest bank took too long to report some suspicious transactions to the police, possibly because the bank's internal alarm systems were not set up correctly, Welt am Sonntag reported, without citing its sources. BaFin is now looking at whether the problem is wider, the paper said. ... Full Story | Top |
| India PM rules out chance of return to 1991 crisis: report Saturday, Aug 17, 2013 04:21 AM PDT  MUMBAI (Reuters) - There is "no question" of India going back to an economic crisis experienced in 1991, as its rupee currency is now linked to the market and foreign exchange reserves are adequate, Prime Minister Manmohan Singh said on Saturday. Asia's third largest economy is growing at its slowest pace in a decade, while the rupee, the region's worst performer this year, is at an all-time low, and the central bank has enough cash to pay for seven months of imports. ... Full Story | Top |
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