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| Office Depot ends board dispute with main shareholder Starboard Tuesday, Aug 20, 2013 09:08 PM PDT  (Reuters) - Office Depot Inc said on Wednesday it had agreed to allow three executives nominated by its largest shareholder Starboard Value LP to sit on the board of directors, staving off proxy solicitation by the activist investor hedge fund. Starboard Value, which holds a 14.6 percent stake in Office Depot, had initially nominated six members to the board of the second-largest U.S. office supply retailer, citing the lack of experience among current board members. ... Full Story | Top |
| JPMorgan close to picking two new directors: source Tuesday, Aug 20, 2013 09:04 PM PDT  By David Henry and Nadia Damouni NEW YORK (Reuters) - JPMorgan Chase & Co is close to naming two new directors with finance and risk management expertise to its board, a source close to the matter said, as the largest U.S. bank faces a new wave of regulatory scrutiny. The bank has identified the candidates but the board has not yet voted on them, the source said on Tuesday, adding that a decision is likely to come in September. ... Full Story | Top |
| Mexico's Pemex says ammonia gas pipeline leak kills at least three Tuesday, Aug 20, 2013 08:47 PM PDT  MEXICO CITY (Reuters) - At least three people were killed by an ammonia gas leak from a pipeline owned by state oil monopoly Pemex in southern Mexico on Tuesday and 1,500 people were evacuated from the area and taken to shelters, the company said. Mexican media put the death toll at four and said some 40 others were poisoned by the leak in the southern state of Oaxaca. Pemex said the leak was caused when the pipeline was damaged by heavy machinery operated by a private company doing road work. Pemex has had a poor safety record in recent years. ... Full Story | Top |
| Asia stocks slip anew, can't escape Fed fears Tuesday, Aug 20, 2013 08:15 PM PDT  By Wayne Cole SYDNEY (Reuters) - Asian share markets came under renewed pressure on Wednesday as investors worried that minutes of the Federal Reserve's July policy meeting would only add to suspicions it will start scaling back stimulus from September. Reports that Japan's government would raise the severity of the latest leak at Fukushima to a level 3 event, or a serious radiation incident, sent shivers through stocks and knocked the Nikkei down 0.8 percent. ... Full Story | Top |
| Wong Kar Wai's 'The Grandmaster': an exile story told through Kung Fu Tuesday, Aug 20, 2013 08:03 PM PDT  By Eric Kelsey BEVERLY HILLS, Calif (Reuters) - It was a black-and-white home movie of an old man, diminutive and cancer-stricken, performing Chinese martial arts techniques in a Hong Kong apartment that spurred director Wong Kar Wai to make his latest film, the Kung Fu epic "The Grandmaster." Wong, best known as an auteur of pensive and brooding urban dramas "Chungking Express" and "In the Mood for Love," said he was deeply puzzled by the intentions behind the homemade film of Kung Fu master Ip Man, made days before his death in 1972. ... Full Story | Top |
| Al Jazeera America launches, but AT&T won't carry network Tuesday, Aug 20, 2013 07:28 PM PDT  By Liana B. Baker and Lisa Richwine (Reuters) - New cable network Al Jazeera America introduced itself to viewers on Tuesday with reports on political strife in Egypt and the impact of climate change on U.S. cities, shortly after a major pay TV distributor declined to carry the channel. The decision by AT&T's U-verse pay-TV service stemmed from a contract dispute over terms to carry the new network, AT&T spokesman Mark Siegel said. Al Jazeera responded by suing AT&T for breach of contract in Delaware Chancery Court. Globally, Al Jazeera is seen in more than 260 million homes in 130 countries. ... Full Story | Top |
| U.S. crime writer Elmore Leonard dead at 87 Tuesday, Aug 20, 2013 07:17 PM PDT  NEW YORK (Reuters) - American author Elmore Leonard, whose ear for gritty, realistic dialogue helped bring dozens of hard-bitten crooks, cops and cowboys to life in nearly 50 novels, died on Tuesday several weeks after a stroke. He was 87. "Elmore passed away this morning at 7:15 a.m. at home surrounded by his loving family," according to an announcement on his website, elmoreleonard.com. It did not provide other details. Leonard, who first wrote Westerns when he gave up his advertising agency job in the 1950s before moving on to crime and suspense books, suffered a stroke on July 29. ... Full Story | Top |
| Britain defends detention of journalist's partner Tuesday, Aug 20, 2013 07:05 PM PDT  By Estelle Shirbon and Michael Holden LONDON (Reuters) - The British government, accused of abusing media freedom, said on Tuesday police were right to detain a journalist's partner if they thought lives might be at risk from data he was carrying from fugitive U.S. intelligence contractor Edward Snowden. ... Full Story | Top |
| Bankruptcy court approves Patriot Coal labor deal Tuesday, Aug 20, 2013 06:50 PM PDT By Bernard Vaughan NEW YORK (Reuters) - A U.S. court approved a labor deal between bankrupt Patriot Coal Corp and its miners' union on Tuesday, putting the company on track to emerge from bankruptcy by the end of the year. A deal this month for new collective bargaining agreements and retiree healthcare benefits with the United Mine Workers of America helped avoid more drastic cutbacks Patriot was authorized to impose earlier this year. Bankruptcy Judge Kathy Surratt-States, who is overseeing the company's restructuring in St. ... Full Story | Top |
| JPMorgan hires New York law firm to help in hiring probe: report Tuesday, Aug 20, 2013 06:30 PM PDT  (Reuters) - JPMorgan Chase & Co has hired New York law firm Paul, Weiss, Rifkind, Wharton & Garrison to investigate its hiring practices in Hong Kong, the Financial Times reported citing people familiar with the matter. The law firm will respond to inquiries from the Securities and Exchange Commission about whether the bank's Hong Kong office hired children of key Chinese officials to help it win underwriting business and other contracts, the newspaper reported. (http://link.reuters.com/ban52v) The SEC is questioning JPMorgan, the largest U.S. ... Full Story | Top |
| Exclusive: LME offers CEO job to Triland Metals exec Martin Pratt - sources Tuesday, Aug 20, 2013 05:27 PM PDT  By Josephine Mason and Susan Thomas NEW YORK (Reuters) - The London Metal Exchange has offered the job of chief executive to Martin Pratt, two sources familiar with the matter said on Tuesday, picking a veteran broker to lead the bourse through the most tumultuous period in its 136-year history. The 42-year-old Pratt, now chief operating office at Triland Metals Ltd, a non-ferrous metals futures broker owned by Japan's Mitsubishi Corp , was chosen over the exchange's own chief operating officer, Diarmuid O'Hegarty, and Garry Jones, a former CEO of NYSE Liffe, the sources said. ... Full Story | Top |
| NYSE picks JPMorgan, SocGen for Euronext IPO: report Tuesday, Aug 20, 2013 05:25 PM PDT  (Reuters) - NYSE Euronext has tapped JPMorgan Chase & Co and Societe Generale to help arrange a potential $1 billion IPO for its European equity operations, Bloomberg news agency reported. A stake in the Euronext unit, which controls markets in Paris, Lisbon, Brussels and Amsterdam, may be sold next year, Bloomberg said citing sources. (http://link.reuters.com/qym52v) The sale could raise about 750 million euros ($1 billion)though the final size of the deal hasn't been determined yet, two sources familiar with the matter told Bloomberg. The U.S. ... Full Story | Top |
| Fox News fires communications chief for 'financial irregularities' Tuesday, Aug 20, 2013 05:24 PM PDT LOS ANGELES (Reuters) - Fox News, a unit of Rupert Murdoch's newly separated Twenty-First Century Fox Inc film and TV company, said on Tuesday it had fired corporate communications chief Brian Lewis due to "financial irregularities" and other issues. "After an extensive internal investigation of Brian Lewis' conduct by Fox News, it was determined that he should be terminated for cause, specifically for issues relating to financial irregularities, as well as for multiple, material and significant breaches of his employment contract," the company said in a statement. ... Full Story | Top |
| Al Jazeera America launches, AT&T won't carry network Tuesday, Aug 20, 2013 04:52 PM PDT By Liana B. Baker and Lisa Richwine (Reuters) - New cable network Al Jazeera America introduced itself to U.S. viewers on Tuesday with reports on political strife in Egypt and a shooting at a Georgia elementary school, making its bid to win audiences shortly after a major pay TV distributor declined to carry the network. The decision by AT&T's U-verse pay-TV service stemmed from a contract dispute over terms to carry the new channel, AT&T spokesman Mark Siegel said. Globally, Al Jazeera is seen in more than 260 million homes in 130 countries. But the new U.S. ... Full Story | Top |
| Conde Nast launches new subscriber service with Amazon Tuesday, Aug 20, 2013 04:50 PM PDT  By Jennifer Saba NEW YORK (Reuters) - Magazine publisher Conde Nast announced a major partnership with Amazon.com Inc on Tuesday in which the Internet retailer will handle print and digital subscriptions for glossy publications such as Vogue, Wired and Vanity Fair. Conde Nast is the first magazine publisher to collaborate with Amazon on this type of service, a move that will simplify and eventually save money on its subscription process and give it access to a huge new customer base. Currently, subscriptions involve direct mail and stacks of magazine insert cards. ... Full Story | Top |
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