Friday, October 25, 2013

Daily News: Politics - Tennessee judge cited for ordering baby's name changed from Messiah

Friday, Oct 25, 2013 08:16 PM PDT
Today's Politics - Bloomberg News Headlines - Yahoo! News:

Tennessee judge cited for ordering baby's name changed from Messiah 
Friday, Oct 25, 2013 08:16 PM PDT
By Tim Ghianni NASHVILLE (Reuters) - A Tennessee judge who ordered a baby's name changed from Messiah to Martin, saying the former was reserved for Jesus Christ, has been cited by a court panel for an inappropriate religious bias in violation of the state judicial code of conduct. Child Support Magistrate Lu Ann Ballew of Cocke County in eastern Tennessee ordered the boy's first name changed over the objections of both parents when they appeared before the judge seeking to settle a number of issues, including a dispute over the child's last name. ...
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Germany, Brazil to propose anti-spying resolution at U.N. 
Friday, Oct 25, 2013 07:57 PM PDT
Germany's Chancellor Merkel addresses a news conference during a EU leaders summit in BrusselsUNITED NATIONS (Reuters) - Germany and Brazil are drafting a U.N. General Assembly resolution that would demand an end to excessive spying and invasion of privacy after a former U.S. intelligence contractor revealed massive international surveillance programs, U.N. diplomats said on Friday. Brazilian President Dilma Rousseff and German Chancellor Angela Merkel have both condemned the widespread snooping by the U.S. National Security Agency. Charges that the NSA accessed tens of thousands of French phone records and monitored Merkel's mobile phone have caused outrage in Europe. ...
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Egypt's top TV satirist back on air, pokes fun at all political camps 
Friday, Oct 25, 2013 07:08 PM PDT
Popular Egyptian satirist Bassem Youssef gestures as he talks during an interview with Reuters in CairoCAIRO (Reuters) - Egypt's most prominent television satirist, Bassem Youssef, known for his fierce jabs at ousted Islamist president Mohamed Mursi, returned to the airwaves on Friday following a summer break, poking equal fun at the fan frenzy surrounding Egypt's defense minister that has gripped the nation in recent months. Youssef rose to fame with a satirical online show after the uprising that swept Hosni Mubarak from power in 2011. His program, which has been compared to the U.S. satirical comedy "The Daily Show with Jon Stewart", is now broadcast on Egyptian TV. ...
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Evidence of Colorado theater gunman's 'smirk' ruled inadmissible 
Friday, Oct 25, 2013 06:45 PM PDT
James Holmes sits in court for an advisement hearing at the Arapahoe County Justice Center in CentennialBy Keith Coffman DENVER (Reuters) - A Colorado police officer's description of a purported smirk made by accused theater gunman James Holmes minutes after his arrest cannot be used at trial because the officer had an unreliable memory, a judge ruled on Friday. Arapahoe County District Court Judge Carlos Samour Jr. ruled as inadmissible Aurora police Officer Justin Grizzle's account that Holmes replied with a "self-satisfying offensive smirk" when the suspect was asked if he had an accomplice. ...
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U.S. seizes $28 million in bitcoins from man linked to online drug market 
Friday, Oct 25, 2013 06:22 PM PDT
NEW YORK (Reuters) - U.S. authorities have seized an estimated $28 million in the digital currency bitcoins from the alleged owner of "Silk Road," the online marketplace for drugs and criminal activity that law enforcement shut down three weeks ago. Federal prosecutors in New York said Friday that the 144,336 bitcoins, a digital currency widely used on the defunct site, were discovered on computer hardware belonging to Ross William Ulbricht, known online as "Dread Pirate Roberts," who was arrested October 1 in San Francisco and charged with various conspiracy counts. ...
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Analysis: Obama's aversion to Mideast conflicts fuels backlash from allies 
Friday, Oct 25, 2013 06:17 PM PDT
U.S. President Barack Obama walks out with two bags of cheesecake from Junior's Restaurant next to Democratic Mayoral candidate Bill de Blasio in BrooklynBy Matt Spetalnick WASHINGTON (Reuters) - From Saudi Arabia to Israel, traditional U.S. allies in the Middle East are beginning to ask: Is America turning its back on us? President Barack Obama's diplomatic overtures to old foe Iran and his last-minute refusal to attack Syria have officials in Israel, the Gulf countries and Turkey wondering if Washington is deliberately neglecting them to avoid being dragged into a Middle East facing deeper sectarian strife and concerns that Tehran may be seeking a nuclear bomb. Media reports that the U.S. ...
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JPMorgan in $5.1 billion deal with housing agency 
Friday, Oct 25, 2013 06:16 PM PDT
JP Morgan Chase & Co sign outside headquarters in New YorkBy Aruna Viswanatha and David Henry (Reuters) - JPMorgan Chase & Co has agreed to pay $5.1 billion to settle claims that it and firms it bought misled Fannie Mae and Freddie Mac about the quality of mortgage securities and home loans it sold to them during the housing boom. The bank and the agencies' regulator said Friday evening that the settlement was expected to be part of a tentative $13 billion deal that JPMorgan is negotiating with federal and state agencies over its mortgage bond liabilities. ...
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Obama says shutdown shows contrast of parties' visions 
Friday, Oct 25, 2013 06:14 PM PDT
U.S. President Barack Obama shakes hands before he at a high school in BrooklynBy Mark Felsenthal NEW YORK (Reuters) - With an eye to 2014 elections, President Barack Obama held up the government shutdown this month as an emblem of fundamental differences between Democrats and Republicans on Friday in an appeal to wealthy donors. "The shutdown was about more than just healthcare, it was about, sort of, a contrast in visions about what our obligations are to our fellow citizens," the president said at a fundraiser at the home of Karen Mehiel on New York's posh Upper East Side. ...
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Guantanamo lawyers want Obama to declassify CIA prison program 
Friday, Oct 25, 2013 06:07 PM PDT
Flags wave above the sign posted at the entrance to Camp Justice at Guantanamo Bay U.S. Naval BaseBy Tom Ramstack FORT MEADE, Maryland (Reuters) - Attorneys for five Guantanamo prisoners charged with plotting the September 11, 2001, attacks have asked President Barack Obama to declassify the CIA program that subjected the defendants to interrogation techniques that have been described as torture. In a letter made public on Friday, the lawyers asked the president to release potentially mitigating information that could spare the defendants from execution if they are convicted on charges of hijacking, terrorism and murdering nearly 3,000 people. ...
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Ex-Florida governor Crist moves closer to unveiling bid for old job 
Friday, Oct 25, 2013 05:54 PM PDT
Former Florida Republican Governor Crist, who campaigned for U.S. President Obama in the 2012 presidential election, speaks to the media in St. PetersburgBy Bill Cotterell LAKE BUENA VISTA, Florida (Reuters) - Former Florida Governor Charlie Crist, a Republican-turned-Democrat, launched a campaign-style video and website on Friday that threw open the door to a likely run for his old job in 2014. In the video posted on YouTube and the website (www.charliecrist.com), Crist highlights his past as governor, calling the period from 2007-2011 a time when "the people were in charge. ...
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GE drops legal fight over running tar sands megaloads on Idaho highway 
Friday, Oct 25, 2013 05:44 PM PDT
A faded, painted logo sits over the entrance to a General Electric Co. facility in MedfordBy Laura Zuckerman SALMON, Idaho (Reuters) - A General Electric Co subsidiary has dropped its appeal of a federal court order barring a massive shipment of tar sands oil-field equipment from being trucked along a scenic Idaho roadway that cuts through the Indian homelands of the Nez Perce Tribe. The company's legal capitulation was hailed by tribal officials and environmental groups as a major victory in their three-year struggle against so-called megaload transports, a dispute at the forefront of a larger battle over oil and gas development in North America. ...
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U.S. judge narrows Dubai bank claims versus ING over investment losses 
Friday, Oct 25, 2013 04:59 PM PDT
By Joseph Ax NEW YORK (Reuters) - A U.S. judge on Friday narrowed Mashreq PSC's claims in a lawsuit that alleged ING Groep NV lost more than $40 million of the Dubai bank's money by investing it in "toxic" securities. U.S. District Judge Lorna Schofield denied ING's bid to dismiss the complaint in its entirety, ruling that Mashreq's breach of contract claim should stand. However, she dismissed the bank's breach of fiduciary duty and fraud claims as duplicative of the contract claim. ...
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Another Ohio prisoner found dead, ninth suicide this year 
Friday, Oct 25, 2013 04:37 PM PDT
By Kim Palmer CLEVELAND (Reuters) - An Ohio prison inmate was found dead this week with a vacuum cleaner cord wrapped around his neck, the ninth state prisoner to commit suicide this year, authorities said on Friday. Kimball Kenaga, 47, died Wednesday in the Ross Correctional Institution in southwest Ohio where he had served seven years of his sentence of 30 years to life for attempted murder, arson and burglary, prison spokeswoman JoEllen Smith said. A guard found Kenaga sitting in a closet with a vacuum cleaner cord around his neck. ...
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Ex-Arizona congressman faces up to 100 years at fraud sentencing 
Friday, Oct 25, 2013 04:30 PM PDT
By Brad Poole TUCSON, Arizona (Reuters) - Former U.S. Representative Richard Renzi of Arizona faces up to 100 years in jail when he is sentenced on Monday for fraud, extortion and money laundering stemming from a federal land swap deal when he was in office. Renzi, a three-term Republican, was convicted in June of 17 felony counts and acquitted on 15 other charges. U.S. District Judge David C. Bury is set to sentence him at 9:30 a.m. in Tucson. ...
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U.N. aid chief demands Security Council action on Syria aid access 
Friday, Oct 25, 2013 04:21 PM PDT
Top U.N. humanitarian official Amos leaves the Labour Ministry building after a meeting with Syrian officials in DamascusBy Michelle Nichols UNITED NATIONS (Reuters) - U.N. aid chief Valerie Amos demanded stronger action by the U.N. Security Council on Friday to get desperately needed aid into Syria, where 2.5 million people in need have not received help for almost a year. Violence and excessive red tape have slowed aid delivery to a trickle in Syria. More than 100,000 people have been killed in the 2 1/2-year civil war and some 2.1 million have fled. After months of talks, the 15-member Security Council approved a non-binding statement October 2 urging increased humanitarian access. ...
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Ex-Florida governor moves close to announcing bid for old job 
Friday, Oct 25, 2013 04:18 PM PDT
Former Florida Republican Governor Crist, who campaigned for U.S. President Obama in the 2012 presidential election, speaks to the media in St. PetersburgBy Bill Cotterell LAKE BUENA VISTA, Florida (Reuters) - Former Florida Governor Charlie Crist, a Republican-turned-Democrat, launched a campaign-style video and website on Friday that appeared to throw open the door to a run for his old job in 2014. In the video posted on YouTube and new website (www.charliecrist.com), highlights his past as governor, calling the period from 2007-2011 a time when "the people were in charge." Criticizing the current powers that be, he asks Floridians to tell him how he can get their state heading back in the direction of "common sense. ...
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Bankruptcy not a topic in early talks with state, Detroit emergency manager says 
Friday, Oct 25, 2013 04:15 PM PDT
FILE - This Oct. 24, 2012 file photo shows an empty field north of Detroit's downtown. Thousands of Detroit streetlights are dark. Thousands of Detroit streetlights are dark, many more residents have fled. Donors are replacing ambulances that limped around for 200,000 miles. Detroit's bankruptcy case is going to trial, Wednesday, Oct. 22, 2013, and the result will determine whether the city can reshape itself in the largest public bankruptcy filing in U.S. history. (AP Photo/Carlos Osorio, File)By Joseph Lichterman and Bernie Woodall DETROIT (Reuters) - Detroit Emergency Manager Kevyn Orr did not speak about filing for Chapter 9 municipal bankruptcy in his first meetings with Michigan state officials before he was named to his post, according to testimony he delivered on the third day of the city's bankruptcy eligibility trial. ...
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U.S. Marine Corps chastised for poor V-22 maintenance records 
Friday, Oct 25, 2013 04:15 PM PDT
WASHINGTON (Reuters) - Errors in the maintenance paperwork used to track readiness of the U.S. Marine Corps V-22 aircraft were so numerous between 2008 and 2011 they could have led officers to deploy squadrons that were unprepared for their missions, investigators reported on Friday. The Defense Department inspector general said an audit of maintenance records for six squadrons of the vertical lift V-22 Osprey between October 1, 2008, and September 30, 2011, found that maintenance workers improperly completed work orders 112 of 907 times and improperly recorded status data 167 of 200 times. ...
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SEC's Aguilar: hold exchange executives accountable for failures 
Friday, Oct 25, 2013 03:48 PM PDT
SEC Commissioner Luis Aguilar answers a reporter's question in WashingtonBy Sarah N. Lynch WASHINGTON (Reuters) - A proposal that would require stock exchanges to be better equipped to handle market disruptions does not go far enough to hold senior officials accountable for failures, Securities and Exchange Commission member Luis Aguilar said on Friday. "The final rule should require an entity's senior officers to certify in writing that the entity has processes in place and adequate resources and staffing to achieve compliance," Aguilar said. ...
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Man charged with extortion over threats to Midwest water supply 
Friday, Oct 25, 2013 03:42 PM PDT
By Kevin Murphy KANSAS CITY, Missouri (Reuters) - A Missouri man was charged on Friday with trying to extort $10,000 from the FBI by saying that he could help authorities investigate a threat to contaminate the public water supply of four Midwest cities. Manuel Garcia, 69, of Kansas City, called police and federal agents to report that he knew of two men who intended to pour 55-gallon drums of unspecified contaminants into water systems in Kansas City and St. Louis, Missouri, and Wichita and Topeka, Kansas, according to statement from the U.S. attorney's office in Kansas City. ...
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National Guard shooting suspect faced job loss, discipline 
Friday, Oct 25, 2013 03:42 PM PDT
By Tim Ghianni NASHVILLE, Tennessee (Reuters) - A National Guard recruiter accused of wounding three superiors near Memphis, Tennessee, had just been relieved of duty when he pulled a handgun from a "fanny pack" and began shooting, according to an FBI affidavit released Friday with a federal criminal complaint. Sergeant First Class Amos Patton is accused of opening fire on supervisors after they told him during a meeting on Thursday at a recruiting center that he was being relieved of duty for misconduct. ...
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Pentagon wants F-35 contractor accountability as it weighs output boost 
Friday, Oct 25, 2013 03:33 PM PDT
Undersecretary of Defense Frank Kendall speaks at the Reuters Aerospace and Defense Summit in WashingtonBy Andrea Shalal-Esa WASHINGTON (Reuters) - The Pentagon's chief arms buyer wants details on how Lockheed Martin Corp and other companies will be held accountable for the quality and reliability of the F-35 fighter jet as he considers whether to approve an increase in the plane's production, U.S. defense officials said on Friday. ...
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Barneys New York hires civil rights pro amid discrimination claims 
Friday, Oct 25, 2013 03:32 PM PDT
(Reuters) - Barneys New York hired an anti-discrimination expert and agreed to have its chief executive meet with a civil rights group following allegations that the luxury store racially profiled black customers, a spokeswoman said on Friday. Reverend Al Sharpton's National Action Network demanded the sitdown with CEO Mark Lee, scheduled for early next week, after two black customers said they were stopped by police and questioned about expensive purchases they made at the Manhattan store. ...
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California gunman leads police on car chase with injured in trunk 
Friday, Oct 25, 2013 03:31 PM PDT
By Eric M. Johnson (Reuters) - A gunman with two wounded captives in the trunk of his car opened fire at passing vehicles and bystanders during an hour- long, car chase with police near Ridgecrest, California on Friday, before being shot dead in a gunbattle, authorities said. Police from Ridgecrest, which is about 150 miles north of Los Angeles, spotted the man earlier Friday in connection with a possible suspect in a separate homicide investigation, according Michael Whorf, a senior deputy with the Kern County Sheriff's Office. ...
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Obama's tech expert becomes target over healthcare website woes 
Friday, Oct 25, 2013 03:24 PM PDT
By Roberta Rampton and Sarah McBride (Reuters) - Todd Park has gone from steering his healthcare information technology company through a blockbuster IPO to occasionally sleeping on a mat in his office while working to repair the troubled new U.S. government healthcare website. Park, the chief technology officer for the White House and a top advisor to President Barack Obama, now finds himself among a handful of officials with targets on their backs as Republicans try to root out who is responsible for this month's glitch-ridden rollout of Healthcare.gov. ...
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Seven hurt at Howard University concert in Washington 
Friday, Oct 25, 2013 03:24 PM PDT
WASHINGTON (Reuters) - At least seven people, including two police officers, were hurt at Washington's Howard University on Friday when a crowd rushed the gates of a homecoming concert, authorities said. The concert, known as Yardfest, had been oversubscribed and people had tried to get into the venue when it reached capacity, Howard spokeswoman Kerry-Ann Hamilton said. "Public Safety officials have restored order and the concert has resumed," Hamilton said. A Washington police spokesman said seven people had been hurt, including two officers who suffered minor injuries. ...
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Grand jury voted to indict JonBenet Ramsey's parents in 1999 
Friday, Oct 25, 2013 03:19 PM PDT
File photo of John and Patsy Ramsey addressing the media after completing two days of police interviews regarding the death of their daughter JonBenet Ramsey at their lawyer's office in AtlantaBy Keith Coffman DENVER (Reuters) - Colorado authorities on Friday unsealed a grand jury indictment prepared in 1999 against the parents of murdered child beauty queen JonBenet Ramsey, a document that was never signed by a prosecutor who decided against bringing charges. The papers show that the grand jury voted to charge John and Patsy Ramsey with child abuse resulting in death and accessory to first-degree murder in the 1996 slaying of their 6-year-old daughter, a crime that has long captivated much of America. ...
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Boeing, Lockheed team up to bid on new U.S. bomber program 
Friday, Oct 25, 2013 03:12 PM PDT
Handout photo of workers on the moving line and forward fuselage assembly areas for the F-35 JSF at Lockheed Martin Corp's factory located in Fort Worth, TexasBy Andrea Shalal-Esa WASHINGTON (Reuters) - Boeing Co and Lockheed Martin Corp will team up to bid on a new U.S. Air Force long-range bomber program, a multibillion-dollar project that U.S. Air Force officials have described as a top acquisition priority. Boeing, which has played a role in every U.S. bomber program since World War Two, would be the prime contractor on the next-generation bomber program, with Lockheed as its primary subcontractor, the companies said on Friday. The Air Force has said it plans to buy as many as 100 new bombers for no more than $550 million each. ...
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Orrick, Pillsbury in talks to form big 10 U.S. law firm 
Friday, Oct 25, 2013 03:01 PM PDT
By Casey Sullivan NEW YORK (Reuters) - Two U.S. law firms are in advanced merger discussions to create one of the 10 largest in the country, according to the firms' chairmen. San Francisco-based Orrick Herrington & Sutcliffe is expected to sign a letter of intent next week to join with Pillsbury Winthrop Shaw Pittman, a source with direct knowledge of the discussions said. Pillsbury Chairman James Rishwain and Orrick Chairman Mitch Zuklie issued a joint statement to Reuters on Friday that said: "Our firms are in exploratory discussions about a possible combination. ...
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Merkel to seek 'no spy deal' within EU as well as with U.S. 
Friday, Oct 25, 2013 02:44 PM PDT
Germany's Chancellor Merkel addresses a news conference during a EU leaders summit in BrusselsBERLIN (Reuters) - German Chancellor Angela Merkel wants the European Union's 28 member states to reach a "no spy deal" similar to an agreement France and Germany seek with the United State following allegations Washington tapped her mobile phone. A German government spokesman late on Friday confirmed Merkel had made such a proposal to European leaders gathered at a summit in Brussels. Sources who attended the meeting said they appeared to be open to the suggestion. Charges that the U.S. ...
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White House says 'Obamacare' website will be fixed by end of November 
Friday, Oct 25, 2013 02:40 PM PDT
A man looks over the Affordable Care Act signup page on the HealthCare.gov website in New York in this photo illustrationBy Caroline Humer and Sharon Begley (Reuters) - The website for Americans to buy insurance under President Barack Obama's healthcare law should be working smoothly for most users by the end of November, a White House official assigned to fix Healthcare.gov said on Friday. Jeffrey Zients also told reporters in a conference call that Quality Software Services Inc, or QSSI, will now serve as a general contractor to oversee repairs to the glitch-ridden website. The administration has not had a technology company overseeing the entire project. ...
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Kerry, Lew to brief U.S. senators on Iran nuclear talks 
Friday, Oct 25, 2013 02:25 PM PDT
U.S. Secretary of State Kerry speaks at the Center for American Progress 10th Anniversary policy forum in WashingtonBy Patricia Zengerle and Timothy Gardner WASHINGTON (Reuters) - Secretary of State John Kerry and Treasury Secretary Jack Lew will hold a briefing on Thursday on the status of nuclear talks with Iran for members of a U.S. Senate committee considering tough new sanctions on Tehran, Senate aides said on Friday. President Barack Obama's administration has been pushing the Senate Banking Committee to hold off on the new sanctions in order to give negotiations with Tehran over its nuclear program a chance. ...
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Toyota settles U.S. acceleration case after $3 million verdict 
Friday, Oct 25, 2013 02:24 PM PDT
The Toyota logo is seen at a dealership of Japan's Toyota Motor Corp in BrusselsBy Jessica Dye (Reuters) - Toyota Motor Corp reached a deal on Friday to resolve a lawsuit in the United States over unintended acceleration issues, one day after a jury found the Japanese carmaker liable and ordered it to pay $3 million for defects that caused a 2007 fatal crash. A jury in Oklahoma on Thursday ordered the company to pay $3 million in compensatory damages to Jean Bookout, a driver injured in the 2007 crash, and the family of Barbara Schwarz, who was killed. Jurors were scheduled to resume deliberating on Friday on whether to award punitive damages against Toyota. ...
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Exclusive: In rare Chinese move, Sinopec seeks partner for Canada shale 
Friday, Oct 25, 2013 02:22 PM PDT
Chinese New Year lantern installation is displayed outside Sinopec gas station in Hong KongBy Chen Aizhu BEIJING (Reuters) - Sinopec Group wants to sell half of its two biggest shale gas fields in Canada to spread costs and accelerate their development as the Chinese energy company focuses increasingly on return of investment, an executive said. The sale of an overseas asset would be a rare move for one of China's state-owned energy companies, which have spent hundreds of billions of dollars investing in hydrocarbon resources from North America to Australia to secure China's energy supply, often to hostile reaction. ...
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Fannie Mae, Freddie Mac end traditional pension plans 
Friday, Oct 25, 2013 02:20 PM PDT
A view shows the Fannie Mae logo at its headquarters in Washington(Reuters) - Fannie Mae and Freddie Mac on Friday said they will terminate their traditional employee pension plans by the end of the year, at the direction of the regulator of the government-controlled mortgage companies. Edward DeMarco, acting director of the Federal Housing Finance Agency, said ending the defined benefit plans "eliminates risk to Fannie Mae and Freddie Mac and helps to conserve their assets on behalf of taxpayers, one of our main priorities as conservator." The plans had previously been closed to new entrants. ...
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Obama chides Republicans on spending cuts at school event 
Friday, Oct 25, 2013 02:17 PM PDT
U.S. President Obama speaks about immigration reform next to U.S. Vice President Biden in the East Room at the White House in WashingtonBy Mark Felsenthal NEW YORK (Reuters) - President Barack Obama warned congressional Republicans on Friday that their next budget negotiations will need to be about more than just spending cuts after a fiscal stalemate that resulted in a 16-day government shutdown. Visiting a school that offers students a fast track to technology jobs to underline his point, Obama said some tax loopholes need to be eliminated to create more tax revenue for the government that can be used to trigger more job growth. ...
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Chile court freezes Glencore hydro project to weigh appeal 
Friday, Oct 25, 2013 02:03 PM PDT
The logo of commodities trader Glencore is pictured in front of the company's headquarters in BaarSANTIAGO (Reuters) - A Chilean appeals court has preventively blocked a recently approved $733 million hydroelectric dam to weigh an environmental appeal, a surprise setback for owners Origin Energy and Glencore Xstrata PLC. Opponents of the 640-megawatt Rio Cuervo project planned in the remote southern Aysen region say it would harm the environment and would be built above a geological fault line in highly-seismic Chile. Lawyers from the environmental prosecutor's office lodged the appeal, claiming the plant's environmental permit granted last month was not legal. ...
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Bombs targeting Shi'ites kill 16 across Iraq 
Friday, Oct 25, 2013 01:53 PM PDT
BAGHDAD (Reuters) - A series of bombs killed at least 16 people across Iraq on Friday as Shi'ite Muslims celebrated a holy festival, police and medical sources said. Nine bombs were detonated by remote control. The deadliest were two roadside devices that exploded in quick succession in a market in the Shi'ite town of Yousufiya, 20 km (12 miles) south of Baghdad, killing at least seven people. ...
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Barclays found liable in $300 million Black Diamond dispute 
Friday, Oct 25, 2013 01:50 PM PDT
The logo of Barclays bank is seen at its office in the Canary Wharf business district of LondonBy Joseph Ax NEW YORK/LONDON (Reuters) - British bank Barclays Plc breached a derivative agreement with a Black Diamond Capital Management unit and must return an estimated $297 million in collateral to the hedge fund, a divided New York state appeals court ruled on Thursday. Barclays said on Friday it disagreed with the decision and was considering an appeal against it. The Connecticut-based fund's BDC Finance LLC filed a lawsuit against Barclays in 2008, claiming it had defaulted on a $40 million collateral call made at the height of the financial crisis. ...
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Senator Paul plans 'hold' on Yellen Fed nomination 
Friday, Oct 25, 2013 01:49 PM PDT
Federal Reserve Vice Chair Janet Yellen addresses a conference in WashingtonWASHINGTON (Reuters) - Republican U.S. Senator Rand Paul threatened on Friday to put a 'hold' on the nomination of Janet Yellen to be chair of the Federal Reserve unless he gets a vote on a bill he has sponsored to put the central bank under more scrutiny. "As part of Senate consideration of the Janet Yellen nomination to be chair of the Federal Reserve, I will request a vote on my bipartisan Federal Reserve Transparency Act," Paul said in a statement. "The American people deserve transparency from the Federal Reserve and the federal government as a whole. ...
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