| | |
| Twitter IPO pegs valuation at modest $11 billion Thursday, Oct 24, 2013 07:31 PM PDT  By Alexei Oreskovic and Gerry Shih SAN FRANCISCO (Reuters) - Seeking to avoid a repeat of Facebook Inc's much-maligned public debut, Twitter Inc revealed more modest ambitions, saying its initial offering would raise up to $1.6 billion and value the company at up to about $11 billion. The valuation was more conservative than the $15 billion some analysts had expected for the social media phenomenon, potentially attracting investors who might consider the money-losing company's listing price a better deal, with room to rise. ... Full Story | Top |
| China court upholds life sentence for Bo Xilai Thursday, Oct 24, 2013 08:07 PM PDT  BEIJING (Reuters) - A court in eastern China rejected an appeal by ousted senior politician Bo Xilai on Friday and upheld his life sentence on charges of bribery, corruption and abuse of power, the official Xinhua news agency reported. Bo, once a rising star in China's leadership circles who had cultivated a following through his populist, quasi-Maoist policies, was jailed for life in September after a dramatic fall from grace that shook the ruling Communist Party. ... Full Story | Top |
| Former NSA director Hayden gives background interview, but in public Thursday, Oct 24, 2013 06:21 PM PDT WASHINGTON (Reuters) - Former National Security Agency director Michael Hayden gave a series of background interviews on Thursday afternoon but chose an unusually public place to do it - an Amtrak train, according to fellow passenger Tom Matzzie. Matzzie, whose Twitter feed describes him as the founder of Ethical Electric Company, regaled followers with a string of tweets describing Hayden's comments to reporters. Hayden was also director of the CIA for three years. ... Full Story | Top |
| Exclusive- Boeing gets $20.7 billion worth of 737 Max commitments from China: sources Thursday, Oct 24, 2013 07:22 PM PDT  By Siva Govindasamy SINGAPORE (Reuters) - Boeing Co has secured commitments for around 200 of its 737 Max aircraft, the upgraded variant of its best-selling short-haul planes, from multiple Chinese customers, said two sources familiar with the deals. The deals are worth a combined $20.7 billion at list prices and must be approved by the Chinese government, a usual practice for aircraft orders in the country, before the customers can be identified, the sources said. These are the first commitments for the 737 Max from China, the world's fastest-growing airline market. ... Full Story | Top |
| Microsoft beats profit forecasts, shares jump Thursday, Oct 24, 2013 04:50 PM PDT  By Bill Rigby SEATTLE (Reuters) - Microsoft Corp cruised past Wall Street's quarterly profit and revenue forecasts on Thursday, helped by strong sales of its Office and server software to businesses, sending its shares up more than 5 percent after hours. The world's largest software company is the latest tech firm to surprise investors with a powerful performance, coming the same day as Amazon.com Inc eased past average revenue forecasts. ... Full Story | Top |
| Detroit operating on 'razor's edge' before bankruptcy: adviser Thursday, Oct 24, 2013 05:26 PM PDT  By Joseph Lichterman DETROIT (Reuters) - Detroit was operating on a "razor's edge" and had no options to avoid running out of cash and filing bankruptcy, the city's top adviser testified on Thursday in a trial to determine whether the city is eligible to file the largest municipal bankruptcy in U.S. history. Kenneth Buckfire, the city's top outside financial adviser, said the city tried to avoid filing bankruptcy in July by cutting expenses and looking at city assets that might be sold to raise cash. The case is being closely watched for the precedents it could set for other U.S. ... Full Story | Top |
| Automatic budget cuts could hit Pentagon harder this year Thursday, Oct 24, 2013 05:46 PM PDT  By David Alexander WASHINGTON (Reuters) - Months after the U.S. military was hit with a $37 billion budget cut that threw it into turmoil and confusion, the Pentagon is headed into the new fiscal year facing a similar threat that could have even more devastating consequences, officials say. The budget deal that ended the government shutdown this month let the Pentagon continue spending at an annualized level of $496 billion in the 2014 fiscal year that began on October 1. ... Full Story | Top |
| Germany, France demand 'no-spy' agreement with U.S. Thursday, Oct 24, 2013 05:33 PM PDT  By John O'Donnell and Luke Baker BRUSSELS (Reuters) - German Chancellor Angela Merkel demanded on Thursday that the United States strike a "no-spying" agreement with Berlin and Paris by the end of the year, saying alleged espionage against two of Washington's closest EU allies had to be stopped. Speaking after talks with EU leaders that were dominated by allegations that the U.S. National Security Agency had accessed tens of thousands of French phone records and monitored Merkel's private mobile phone, the chancellor said she wanted action from President Barack Obama, not just apologetic ... Full Story | Top |
| Paul Ryan wants narrower focus for new budget talks Thursday, Oct 24, 2013 05:13 PM PDT  By David Lawder WASHINGTON (Reuters) - A new round of U.S. budget negotiations starting next week should focus more narrowly on replacing automatic spending cuts rather than an elusive "grand bargain," House Budget Committee Chairman Paul Ryan said on Thursday. Ryan told Reuters in an interview that simply maintaining the automatic "sequester" cuts was the fallback position for Republicans if Democrats do not agree to substitute longer-term savings on expensive federal benefits programs. "We have spending cuts coming. ... Full Story | Top |
| Contractors describe scant pre-launch testing of U.S. healthcare site Thursday, Oct 24, 2013 07:18 PM PDT  By David Morgan and Susan Cornwell WASHINGTON (Reuters) - The Obama administration launched its troubled healthcare insurance website after only a minimum of crucial system-wide testing, despite contractors warning officials repeatedly about performance risks, a congressional panel heard on Thursday. Witnesses said the administration did not conduct end-to-end testing of the system's technology backbone until just the two weeks before one of the lynchpins of President Barack Obama's landmark healthcare policy opened to consumers on October 1. At a U.S. ... Full Story | Top |
| Twitter seeks $11 billion valuation in IPO Thursday, Oct 24, 2013 01:57 PM PDT SAN FRANCISCO (Reuters) - Twitter is seeking a maximum valuation of $10.9 billion in its Wall Street debut, more modest than the $15 billion that some analysts had expected for the social media phenomenon. Twitter said that it intends to sell 70 million shares priced between $17 and $20 in its hotly anticipated IPO. The company hopes to raise between $1.25 billion and $1.44 billion, according to an amended version of its prospectus filed on Thursday. Twitter said on Thursday that there will be 544,696,816 shares of its common stock outstanding after the offering. ... Full Story | Top |
| White House presses Senate to delay new Iran sanctions Thursday, Oct 24, 2013 02:36 PM PDT  By Timothy Gardner and Patricia Zengerle WASHINGTON (Reuters) - The White House hosted a meeting of aides to Senate committee leaders on Thursday seeking to persuade lawmakers to hold off on a package of tough new sanctions against Iran over its nuclear program, a senior Senate aide said. The White House will press for another delay on a sanctions bill that had been expected to come to a vote in the Senate Banking Committee last month but was held back after appeals from President Barack Obama's administration to let negotiations on Iran's nuclear program get under way. ... Full Story | Top |
| Contractors describe scant pre-launch testing of U.S. healthcare site Thursday, Oct 24, 2013 04:47 PM PDT By David Morgan and Susan Cornwell WASHINGTON (Reuters) - The Obama administration launched its troubled healthcare insurance website after only a minimum of crucial system-wide testing, despite contractors warning officials repeatedly about performance risks, a congressional panel heard on Thursday. Witnesses said the administration did not conduct end-to-end testing of the system's technology backbone until just the two weeks before one of the lynchpins of President Barack Obama's landmark healthcare policy opened to consumers on October 1. At a U.S. ... Full Story | Top |
| Obama presses Republicans to end stalemate on immigration Thursday, Oct 24, 2013 01:56 PM PDT  By Amanda Becker WASHINGTON (Reuters) - Fresh from a bruising fight with House of Representatives Republicans over the budget, U.S. President Barack Obama on Thursday urged them to work with him to overhaul the country's immigration laws. "Let's do it now. Let's not delay. Let's get this done, and let's do it in a bipartisan fashion," Obama said at a White House event that was part of a renewed push he is making on one of his top domestic priorities. ... Full Story | Top |
| Germany demands U.S. answers over Merkel bugging Thursday, Oct 24, 2013 01:55 PM PDT  By Noah Barkin and Madeline Chambers BERLIN (Reuters) - An outraged Germany summoned the U.S. ambassador for the first time in living memory on Thursday over suspicions Washington bugged Chancellor Angela Merkel's phone, in the worst spat between the close allies in a decade. Merkel, at a summit of European leaders in Brussels, said the incident had shattered German trust in the United States: "It's not just about me but about every German citizen," she said. "Spying among friends is not at all acceptable." The White House did not deny the bugging, saying only it would not happen in future. ... Full Story | Top |
| U.S. monitored the phone calls of 35 world leaders: report Thursday, Oct 24, 2013 01:58 PM PDT  LONDON (Reuters) - The United States monitored the phone conversations of 35 world leaders according to classified documents leaked by fugitive whistleblower Edward Snowden, Britain's Guardian newspaper said on Thursday. Phone numbers were passed on to the U.S. National Security Agency (NSA) by an official in another government department, according to the documents, the Guardian said on its website. It added that staff in the White House, State Department and the Pentagon were urged to share the contact details of foreign politicians. ... Full Story | Top |
| Analysis: T-Mobile strategy could eat into business of AT&T, Verizon Thursday, Oct 24, 2013 12:28 PM PDT  By Sinead Carew NEW YORK (Reuters) - T-Mobile US Inc is expected to post stronger subscriber growth than its larger rival AT&T Inc for the second straight quarter, suggesting the upstart carrier's bold new customer policies could shake up the U.S. mobile market. Intensifying competition from T-Mobile, the No. 4 wireless provider, and a challenges from No. 3 Sprint Corp, may deplete revenue growth at AT&T and the market-leader Verizon Wireless at time of slowing overall growth. ... Full Story | Top |
| Union lawyers build case against Detroit early in bankruptcy trial Thursday, Oct 24, 2013 01:14 PM PDT  By Joseph Lichterman DETROIT (Reuters) - Attorneys for Detroit unions and retirees sought to build a case on Thursday that Emergency Manager Kevyn Orr did not negotiate in good faith before Detroit filed for bankruptcy so they could block the city from getting court protection. Detroit filed for bankruptcy protection on July 18, and it says more than half of its liabilities come from retirement benefits, but the unions and retirees object to the city's figures. ... Full Story | Top |
| Congressman Paul Ryan sees narrower focus for new budget talks Thursday, Oct 24, 2013 12:53 PM PDT By David Lawder WASHINGTON (Reuters) - A new round of budget negotiations starting next week should focus more narrowly on replacing automatic spending cuts rather than attempt to reach an elusive "grand bargain," House Budget Committee Chairman Paul Ryan said on Thursday. Ryan told Reuters in an interview that reduced expectations could make the talks more successful than past efforts, such as the failure of the 2011 "supercommittee" to find $1.2 trillion in savings. ... Full Story | Top |
| Two wounded in Tennessee National Guard armory shooting Thursday, Oct 24, 2013 01:26 PM PDT NASHVILLE, Tennessee (Reuters) - Two National Guard soldiers were shot and wounded on Thursday at an armory outside a U.S. Navy facility in Millington, Tennessee, and a third National Guard member suspected in the shooting was taken into custody, authorities said. A bullet struck one soldier in a leg and the other in the foot, Millington Police Chief Rita Stanback told a news conference. The Navy described their wounds as not life-threatening. Both victims were taken to area hospitals, according to Millington Fire Chief Gary Graves. ... Full Story | Top |
| Merkel frosty on the U.S. over 'unacceptable' spying allegations Thursday, Oct 24, 2013 03:31 PM PDT  By Luke Baker and Andreas Rinke BRUSSELS (Reuters) - German Chancellor Angela Merkel accused the United States of an unacceptable breach of trust on Thursday after allegations that the U.S. bugged her personal mobile phone, and she indicated data agreements with Washington may have to be revised. Arriving for a two-day summit in Brussels overshadowed by the allegations of eavesdropping by the U.S. National Security Agency against Italy, France and Germany, Merkel said she had told President Barack Obama in a telephone conversation late on Wednesday that the acts were unacceptable. ... Full Story | Top |
| Airline profits rise in third quarter, but United misses Thursday, Oct 24, 2013 11:48 AM PDT  By Karen Jacobs and Nivedita Bhattacharjee (Reuters) - Southwest Airlines and United Continental Holdings made more money in the third quarter as higher airfares bolstered revenue, capping a strong week of earnings for major U.S. airlines that bodes well for the current period. United missed estimates on Thursday as it grappled with revenue management shortfalls and competitive pressure, while Southwest's profit was as analysts expected. Alaska Air Group, a smaller carrier based in Seattle, reported higher-than-expected earnings. United shares fell as much as 4 percent before recovering. ... Full Story | Top |
| Guantanamo guards accused of improper document seizures Thursday, Oct 24, 2013 01:40 PM PDT  By Tom Ramstack FORT MEADE, Maryland (Reuters) - An attorney for a man charged with plotting the September 11 attacks accused U.S. military guards at the Guantanamo Bay detention facility on Thursday of seizing his client's private legal documents. The allegation from Navy Commander Walter Ruiz called into question whether five defendants undergoing a pretrial hearing in the Guantanamo war crimes tribunal can expect a fair trial on charges of terrorism, hijacking and murdering nearly 3,000 people. ... Full Story | Top |
| Pirates kidnap two U.S. sailors off Nigerian coast: sources Thursday, Oct 24, 2013 11:38 AM PDT By Joe Brock and Andrea Shalal-Esa ABUJA/WASHINGTON (Reuters) - Pirates attacked an oil supply vessel off the Nigerian coast and kidnapped the captain and chief engineer, both U.S. citizens, American officials said on Thursday as the Nigerian military ordered its Navy to rescue the men. "We believe this was an act of piracy," U.S. State Department spokeswoman Marie Harf said, adding that U.S. officials were closely monitoring the situation and seeking more information. ... Full Story | Top |
| U.S. court upholds ex-Guantanamo detainee's conviction over embassy blasts Thursday, Oct 24, 2013 10:48 AM PDT  By Jonathan Stempel NEW YORK (Reuters) - A U.S. appeals court ruled Thursday that a Guantanamo Bay detainee's constitutional right to speedy trial was not violated by his five years in detention, upholding his conviction and life sentence for his role in U.S. embassy bombings in Africa in 1998. Citing the public interest in extracting information to combat terrorism, the 2nd U.S. Circuit Court of Appeals in New York denied the appeal of Ahmed Khalfan Ghailani, the only detainee at the military prison in Cuba to have been tried in U.S. civilian courts. ... Full Story | Top |
| EU may re-impose sanctions on Iran ship line despite court order Thursday, Oct 24, 2013 10:45 AM PDT  By Justyna Pawlak BRUSSELS (Reuters) - European governments have taken preliminary steps to re-impose sanctions against Iran's main cargo shipping line, potentially complicating a new diplomatic push to settle the dispute over Tehran's nuclear program. Diplomats told Reuters the governments had agreed this week to send letters to Islamic Republic of Iran Shipping Lines (IRISL) and some of its subsidiaries to inform them of their intention. ... Full Story | Top |
| White House concerned by increase in piracy in West Africa Thursday, Oct 24, 2013 10:43 AM PDT  WASHINGTON (Reuters) - The White House said on Thursday it is concerned about the rise in piracy off the coast of West Africa, and is seeking more information about reports that pirates have kidnapped two U.S. citizens from an oil supply vessel in the Gulf of Guinea. "We are seeking additional information so that we can contribute to the safe resolution of the situation," White House spokesman Jay Carney told reporters at a briefing. ... Full Story | Top |
| Black customers claim discrimination by Barneys New York, police Thursday, Oct 24, 2013 11:22 AM PDT By Barbara Goldberg NEW YORK (Reuters) - A civil rights organization on Thursday demanded a meeting with the CEO of Barneys New York and threatened to picket the luxury department store in Manhattan after two black customers said they were stopped by police after making expensive purchases. Trayon Christian, 19, of Queens said after he bought a $349 Ferragamo belt on April 29 he was handcuffed and detained for two hours before being released with no charges. He filed a discrimination lawsuit against Barneys and the New York City Police Department on Monday. ... Full Story | Top |
| Algerian troops find huge arms cache on Libyan border Thursday, Oct 24, 2013 09:13 AM PDT ALGIERS (Reuters) - Algerian troops have discovered a huge cache of weapons near the border with Libya, including surface-to-air missiles, rockets and landmines, an Algerian security source said on Thursday. "It is an arsenal of war," the Algerian source, who asked not to be named, told Reuters. Algeria and Libya's other neighbors are worried about a dangerous spillover from growing turmoil in that country as Tripoli's fragile central government struggles to contain militias and Islamist militants operating in its lawless southern desert. ... Full Story | Top |
| U.S. jobless claims stay elevated, manufacturing slows Thursday, Oct 24, 2013 08:44 AM PDT  By Lucia Mutikani WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell less than expected last week, but a lingering backlog of applications in California makes it difficult to get a good read of labor market conditions. While other data on Thursday showed manufacturing growing at its slowest pace in a year in early October, economists said fundamentals for the factory sector remained fairly healthy. Initial claims for state unemployment benefits fell 12,000 to a seasonally adjusted 350,000, the Labor Department said. ... Full Story | Top |
| Algeria's Bouteflika to curb security service power: party official Thursday, Oct 24, 2013 01:46 PM PDT  By Lamine Chikhi ALGIERS (Reuters) - Algeria's President Abdelaziz Bouteflika wants to push through constitutional reforms before 2014 elections to put an end to the powerful intelligence service's role as political kingmaker, the ruling FLN party's chairman said. Any challenge to the Department of Intelligence and Security (DRS) would amount to a major shakeup in Algeria where observers say the security agency has ruled behind the scenes with members of an FLN elite since independence from France in 1962. ... Full Story | Top |
| Syrian army seizes Damascus suburb from rebels: state TV Thursday, Oct 24, 2013 09:34 AM PDT  By Alexander Dziadosz BEIRUT (Reuters) - Syrian forces seized a suburb of Damascus on Thursday from rebels fighting to overthrow President Bashar al-Assad in a push that has shored up government control of the capital's outskirts, state television reported. Assad's forces, backed by Shi'ite fighters from Lebanon, Iraq and Iran, have been gaining ground around Damascus since last month, storming several rebel-held suburbs and choking off supplies to others in the east and south. ... Full Story | Top |
| Italian PM says spying by allies unacceptable Thursday, Oct 24, 2013 09:35 AM PDT By Naomi O'Leary ROME (Reuters) - Alleged monitoring of Italian telecommunications by U.S. and British intelligence is "inconceivable and unacceptable", Prime Minister Enrico Letta said on Thursday. He was speaking after a weekly magazine, L'Espresso, reported that telecoms surveillance by the two close allies had targeted the government and companies, as well as suspected terrorist groups. Revelations from former U.S. intelligence contractor Edward Snowden about the scale of interception by the U.S. National Security Agency (NSA) are fuelling growing anger among Washington's European ... Full Story | Top |
| Turkey raps international failure to tackle Syria aid crisis Thursday, Oct 24, 2013 08:43 AM PDT  By Sylvia Westall KUWAIT (Reuters) - Turkey's foreign minister on Thursday deplored what he called an international failure to tackle the humanitarian crisis in war-ridden Syria, saying food and medicine are running out and snipers are shooting pregnant women. Ahmet Davutoglu said Turkey, which has received more than 600,000 Syrian refugees, would keep its border with Syria open to people fleeing the violence but said the world needed to share the humanitarian burden. ... Full Story | Top |
| Malian, international forces launch operation against Islamists Thursday, Oct 24, 2013 08:02 AM PDT BAMAKO (Reuters) - French, U.N. and Malian forces on Thursday launched a joint operation against Islamists across northern Mali a day after a suicide attack killed two Chadian peacekeepers in the desert zone. "It's an operation to sweep identified areas in the three northern regions. It will last as long as is needed," said Lieutenant-Colonel Souleymane Maiga, spokesman for Mali's army. Colonel Gilles Jaron, a spokesman for the French army, said the operation had been planned before the bomb attack on the U.N. ... Full Story | Top |
| Pimco's Gross tells Icahn to leave Apple alone Thursday, Oct 24, 2013 11:40 AM PDT  By Jennifer Ablan and Katya Wachtel (Reuters) - Bill Gross, the co-chief investment officer at $1.97 trillion bond manager Pimco, lambasted billionaire investor Carl Icahn on Thursday for his involvement in Apple Inc's strategy, but he failed to elicit an equally biting response from the veteran activist. Gross said on Twitter: "Icahn should leave #Apple alone & spend more time like Bill Gates. If #Icahn's so smart, use it to help people not yourself." Icahn on Thursday, in a public letter to Apple Chief Executive Tim Cook, called on Apple to commence a $150 billion share buyback immediately. ... Full Story | Top |
| Pirates kidnap two U.S. sailors off Nigerian coast -sources Thursday, Oct 24, 2013 06:54 AM PDT ABUJA/WASHINGTON (Reuters) - Pirates attacked an oil supply vessel off the Nigerian coast and kidnapped the captain and chief engineer, both U.S. citizens, an American defense official and security sources said on Thursday. Pirate attacks off Nigeria's coast have jumped by a third this year as ships passing through West Africa's Gulf of Guinea, a major commodities route, have come under threat from gangs wanting to snatch cargoes and crews. The U.S.-flagged, C-Retriever, a 222-foot (67 meter) vessel owned by U.S. ... Full Story | Top |
| U.S. talking to Turkey about China missile deal concerns Thursday, Oct 24, 2013 05:19 AM PDT  By Tulay Karadeniz ANKARA (Reuters) - The United States is concerned Turkey's decision to build a missile defense system with a Chinese firm could undermine allied air defenses, its envoy said on Thursday, but dismissed talk of a broader rift with Ankara. U.S. Ambassador to Turkey Francis Ricciardone said Washington had begun "expert" talks with Turkey to assess the impact of its plans to co-produce the long-range air and missile defense system with a Chinese firm under U.S. sanctions. He downplayed speculation, however, that ties between the two had soured following U.S. ... Full Story | Top |
| Primark, Loblaw pay out to Bangladesh factory victims Thursday, Oct 24, 2013 09:16 AM PDT By Ruma Paul DHAKA (Reuters) - British clothes retailer Primark and Canadian grocer Loblaw laid out plans on Thursday to pay more compensation for the collapse of a Bangladeshi factory that killed almost 1,130 people, as protesters demanded other brands follow suit. The disaster on April 24 has galvanized most of the clothing industry's big names to try to improve safety standards but they have failed to agree on a compensation fund for victims despite months of wrangling. ... Full Story | Top |
| U.N. nuclear inspectors hope to end deadlock with Iran Thursday, Oct 24, 2013 04:28 AM PDT  By Fredrik Dahl VIENNA (Reuters) - Iran's apparent new readiness to address international concerns about its atomic ambitions will be tested in talks with U.N. inspectors on Monday, with diplomats hoping for progress such as on access to a sensitive military site. However, the diplomats say Iran will probably agree to cooperate fully with an investigation by the U.N. International Atomic Energy Agency (IAEA) only if a broader deal is reached in separate negotiations with six world powers. ... Full Story | Top |
|
No comments:
Post a Comment