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| California lawmaker pleads innocent to corruption charges Monday, Feb 24, 2014 08:23 PM PST  By Dan Whitcomb and Dana Feldman LOS ANGELES (Reuters) - A California state senator pleaded not guilty on Monday to charges he took bribes from a businessman as well as from undercover FBI agents posing as Hollywood film executives to shepherd legislation in their favor. Ron Calderon, a Democrat and a member of a California political dynasty that goes back several decades, had turned himself in earlier in the day to face two dozen counts of bribery, fraud, money laundering and conspiracy. But Calderon's attorney, Mark Geragos, asked the public not rush to judgment against his client, who he said remained in relatively good spirits despite trying circumstances. The senator's brother, Tom Calderon, a former member of the California State Assembly, was also named in the indictment and charged with conspiracy and seven counts of money laundering. Full Story | Top |
| Explosion, gunfire ring out near Bangkok protest site Monday, Feb 24, 2014 08:22 PM PST  By Pairat Temphairojana BANGKOK (Reuters) - An explosion and gunfire rang out near a sprawling anti-government protest site in the Thai capital early on Tuesday after the protesters' leader warned that government supporters were planning to bring armed militants to Bangkok. Weeks of unrest, in which protesters have barricaded several main Bangkok intersections, have been interrupted by occasional bombs and gunfire, with one blast killing a woman and a young brother and sister in a shopping district on Sunday. There was another explosion and gunfire near one protest site on the edge of Bangkok's Lumpini Park in the early hours of Tuesday, national security chief Paradorn Pattanathabutr told Reuters. "Last night, we don't know where and who it came from, but there was an explosion and the sound of gunfire from 1 a.m.," Paradorn said. Full Story | Top |
| Asia stocks perk up as merger frenzy spurs Wall St. Monday, Feb 24, 2014 08:21 PM PST  By Wayne Cole SYDNEY (Reuters) - Asian share markets regained some altitude on Tuesday courtesy of a tailwind from Wall Street which sped to historic highs amid more mergers buzz, while gold extended its recent rally. The upbeat mood among investors in the United States and Europe also helped calm nerves about China after talk of credit tightening knocked property shares there on Monday. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.5 percent, while stocks in Seoul gained 0.7 percent. Japan's Nikkei bolted ahead by 1. ... Full Story | Top |
| Canada's finance minister undecided on 2015 run amid health issues Monday, Feb 24, 2014 08:20 PM PST  By Louise Egan MELBOURNE (Reuters) - Canada's Finance Minister Jim Flaherty has not yet decided whether to run for office again in the 2015 general election, he told Reuters on Tuesday, amid speculation he may step down before then to attend to health issues. I haven't decided," Flaherty said in an interview when asked to confirm his intentions. He had long been one of the most vocal cabinet ministers in Prime Minister Stephen Harper's Conservative government and gave frequent speeches to promote the government's agenda. Full Story | Top |
| 'Dr. Doom' sees correction risk, not crash for Canadian housing Monday, Feb 24, 2014 08:19 PM PST  By Leah Schnurr TORONTO (Reuters) - Canada's housing market is at risk of a meaningful correction, Nouriel Roubini said on Monday, though the economist known as "Dr. Doom" for his often gloomy forecasts said he was not predicting a crash. Roubini also said the value of the Canadian dollar is too strong, noting the challenge that poses to the manufacturing sector, and suggested the Bank of Canada should use more aggressive monetary policy to weaken the loonie. Roubini, who is credited with predicting the collapse of the housing market in the United States and the ensuing financial crisis, pointed to a number of housing markets that are showing signs of "frothiness, if not an outright bubble," including Canada, the United Kingdom and parts of China. While he highlighted the high level of household debt as an area of concern in Canada, he acknowledged there are many differences between Canada's housing market and the one that collapsed south of the border, including the excessive use of subprime mortgages in the United States and stronger banks in Canada. Full Story | Top |
| Compliance becomes hotter issue for U.S. firms in China: report Monday, Feb 24, 2014 07:36 PM PST  By Adam Jourdan SHANGHAI (Reuters) - U.S. companies in China placed greater focus on compliance last year after several high profile probes into corruption and high pricing, but rising costs and a skills shortage remained their main concerns, the American Chamber of Commerce in Shanghai said in its annual report. China is the world's second largest economy and posted 7.7 percent GDP growth in 2013, slow by Chinese standards but far quicker than stagnant growth in Europe and the United States. Issues of corporate corruption caused ripples last year after a series of investigations against firms from British drugmaker GlaxoSmithKline Plc to U.S. milk powder maker Mead Johnson Nutrition Co . "Despite optimism and growth, challenges in the business and regulatory environment in China continue to hinder business," the report said. Full Story | Top |
| Peru's keeps finance minister in cabinet shuffle, names fifth PM Monday, Feb 24, 2014 07:22 PM PST  By Marco Aquino and Patricia Velez LIMA (Reuters) - Peru's President Ollanta Humala reappointed his finance minister in a major cabinet reshuffle late on Monday that also replaced the mines minister and made the current housing minister his fifth prime minister. Finance Minister Luis Miguel Castilla had offered his resignation to Humala earlier on Monday, three government sources said, following a spat with the outgoing prime minister over a bid to raise the minimum wage. Humala chose Housing Minister Rene Cornejo, the former head of the state investment promotion agency Proinversion, to be his new prime minister after making eight changes to his cabinet in Monday night's televised swearing-in ceremony. Cornejo, described by some as a Humala loyalist, had been housing minister since the beginning of Humala's presidency in July 2011. Full Story | Top |
| Quest for more lethal U.S. warship could raise cost Monday, Feb 24, 2014 07:14 PM PST  By Andrea Shalal WASHINGTON (Reuters) - Defense Secretary Chuck Hagel's decision to stop building the current class of coastal warships after 32 vessels and focus on ships with more firepower and protection will result in higher costs, U.S. defense officials said on Monday. Clark said Hagel's approach would help the Navy achieve its goals for the mine-hunting and anti-submarine warfare missions, while bridging to a new more lethal and survivable ship. Full Story | Top |
| Samsung debuts wearables and latest Galaxy smartphone Monday, Feb 24, 2014 07:10 PM PST  By Paul Sandle BARCELONA, Spain (Reuters) - Samsung Electronics unveiled a new smartwatch and fitness band along with the latest version of its Galaxy smartphone on Monday, demonstrating how the battleground for innovation is shifting from the hand to the wrist. The world's biggest smartphone maker set a trend less than six months ago for wearable devices that link to mobile handsets with its Galaxy Gear watch, which has seen rivals like Sony and Huawei follow in its wake. Low-price Chinese rivals are churning out products that look increasingly similar at a time when smartphone sales have started to ease, taking a toll on Samsung's earnings. To fight back, Samsung is taking a less glitzy marketing approach to control costs. Full Story | Top |
| U.S. House Republican tax plan would cut top rate: Washington Post Monday, Feb 24, 2014 07:06 PM PST A tax reform package due to be unveiled this week by U.S. House Republicans would slash the top income tax rate to 25 percent from 39.6 percent and levy a surtax on some of the most affluent households, the Washington Post reported on Monday. The plan by Representative Dave Camp, chairman of the tax-writing House of Representatives Ways and Means Committee, would also reduce the seven existing U.S. tax brackets to two, which would be set at 10 percent and 25 percent, according to the Post. Citing an analysis by the congressional Joint Committee on Taxation, the Post said the plan did not indicate which of the many tax breaks would be sacrificed to make possible the lower rates. Full Story | Top |
| Harold Ramis, 'Ghostbusters' actor, 'Groundhog Day' director dies at 69 Monday, Feb 24, 2014 06:50 PM PST  Comedy actor and director Harold Ramis, best known for films such as "Ghostbusters," "Groundhog Day" and "Caddyshack," died at his home in Chicago at the age of 69 of complications from a rare vascular disease, his agent said on Monday. He passed away from complications related to autoimmune inflammatory vasculitis," said Chris Day, a spokesman for the United Talent Agency in Los Angeles. "Deeply saddened to hear of the passing of my brilliant, gifted, funny friend, co-writer/performer and teacher Harold Ramis," tweeted actor Dan Aykroyd, who co-starred with Ramis in the 1984 film "Ghostbusters." Ramis played Dr. Egon Spengler in the Ivan Reitman cult comedy "Ghostbusters," which also starred actor Bill Murray. "Harold Ramis and I together did 'The National Lampoon Show' off-Broadway, 'Meatballs,' 'Stripes,' 'Caddyshack,' 'Ghostbusters' and 'Groundhog Day.' He earned his keep on this planet. Full Story | Top |
| Court orders Rogers Communications pay C$500,000 in ads case Monday, Feb 24, 2014 06:30 PM PST Rogers Communications Inc was ordered to pay C$500,000 ($451,700) by an Ontario court that said Canada's largest wireless company did not conduct adequate tests to back up a claim that its Chatr discount brand had better coverage than rivals. The Ontario Superior Court of Justice ruling was reached on Friday and disclosed on Monday by Canada's Competition Bureau, an independent law enforcement agency. The court had earlier dismissed Competition Bureau claims that Rogers had used misleading advertising to promote Chatr, which Rogers launched several years ago to fend off new entrants such as Wind Mobile. At that point, the Competition Bureau had sought a fine of C$10 million. Full Story | Top |
| From bathrooms to museums: odd sets for Oscar statuettes Monday, Feb 24, 2014 06:20 PM PST  The most valuable piece of hardware in Hollywood is the 13-and-a-half-inch (34-cm) golden Oscar statuette, so it is no surprise recipients of the top film honors keep theirs in a variety of safe spots. Emma Thompson, a two-time winner for "Howards End" and "Sense and Sensibility," has stowed her Oscars in the bathroom, or rather loo, of her London abode. And it's nice for them to have a go, pick them up." Cate Blanchett, a frontrunner for best actress for her role in "Blue Jasmine" for this Sunday's Academy Awards, has to pay to see her Oscar from "The Aviator." "My Oscar is in a film museum called ACMI (Australian Centre for the Moving Image) in Melbourne," the 44-year-old star said. "I get to pay a ticket and go see it every now and again." Winners of the 2,809 Oscars awarded so far may opt for the more mundane living room, like Charlize Theron for her "Monster" Oscar, or the office, the home for George Clooney's two awards for "Argo" and "Michael Clayton." But Jennifer Hudson created an award wall and put her statuette for "Dreamgirls" in a starring role. Full Story | Top |
| Hollywood Oscar campaigns: A civil affair in a wide-open field Monday, Feb 24, 2014 06:16 PM PST  "I feel that this year is more exhausting than ever," said Tim Gray, the awards editor at trade publication Variety, noting the number of high-quality films among the best picture nominees. This year, nine films will compete for the best picture Oscar, which will be handed out on March 2 by the Academy of Motion Picture Arts and Sciences in Los Angeles. "I think it works on the supposition, 'Leave no stone unturned,'" he said, noting how stars and directors have been attending screenings and question-and-answer sessions, sometimes more than one per day, to reach some 6,000 Oscar voters. Full Story | Top |
| Oscar producers bank on 'funny, very kind' host Ellen DeGeneres Monday, Feb 24, 2014 06:07 PM PST  By Mary Milliken LOS ANGELES (Reuters) - Now they know how big the show is and how much people care, but the producers of the Oscars aren't making any apologies for their maiden effort running Hollywood's biggest show last year or the provocative humor of its host, Seth MacFarlane. Despite some harsh reviews from TV critics, Craig Zadan and Neil Meron pulled in the largest U.S. audience in three years, a ratings bump in the 18-49 demographic coveted by TV networks and, perhaps most importantly for them, a second chance to show what they could do. For this year, the producers have teased a homage to movie heroes, like Erin Brockovich, Harry Potter and Nelson Mandela, and a heavy dose of hit Oscar-nominated songs by hot artists, including Pharrell Williams and U2. Ellen DeGeneres, comedian, day-time talk show maven and soon-to-be two-time Oscar host. Full Story | Top |
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