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| China paves way to charge ally of former security tsar in graft crackdown Thursday, Feb 27, 2014 08:00 PM PST  A former vice minister of public security and ally of China's retired domestic security chief, Zhou Yongkang, has resigned from his position as a national lawmaker, state media said, possibly opening the way for criminal charges against him. Li Dongsheng was formally sacked this week after being suspended last December for suspected "serious discipline violations", a term normally used to refer to corruption. China's parliament - whose annual session opens in Beijing next week - has accepted Li's resignation as a member of parliament for southwestern Sichuan province, the official Xinhua news agency said late on Thursday. Li joined the Public Security Ministry in 2009, having previously served as a deputy propaganda minister, and helped oversee security for the 2010 Asian Games in the southern Chinese city of Guangzhou, according to state media. Full Story | Top |
| Panama Canal, consortium reach preliminary deal to complete work Thursday, Feb 27, 2014 07:16 PM PST  The Panama Canal and a Spanish-led consortium expanding the waterway have reached a preliminary deal to complete work on the project, which has been stymied by a bitter stand-off over cost overruns, the canal authority said on Thursday. The deal foresees the consortium, which is led by Spanish builder Sacyr alongside Italy's Salini Impregilo, finishing work by December 2015. Both the Panama Canal Authority and the consortium would each inject $100 million for immediate cash flow needs to fully resume work, a statement from the authority said. Twelve lock gates which are currently in Italy, will arrive in Panama by December 2014, according the deal, which is under review and pending signature, the statement said. Full Story | Top |
| Asian stocks advance, take comfort from Yellen's comments Thursday, Feb 27, 2014 07:05 PM PST  By Lisa Twaronite TOKYO (Reuters) - Asian stocks managed to shrug off early losses on Friday and push higher, inspired by gains on Wall Street after U.S. Federal Reserve Chair Janet Yellen's comments underscored her confidence in the U.S. economy. Yellen's testimony to a Senate committee helped the S&P 500 shrug off fears of rising tension in Ukraine and Russia and close at a record high. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, on track for a weekly gain, while Tokyo's Nikkei stock average erased most losses and ended the morning session just a few ticks shy of flat. Tokyo got some help from data showing Japanese factory output rose in January at the fastest pace in more than two years and core inflation stood close to a five-year high. Full Story | Top |
| Armed men seize main regional airport in Ukraine's Crimea: Interfax Thursday, Feb 27, 2014 06:55 PM PST A group of armed men in military uniforms have seized the main regional airport in Simferopol, Crimea, Interfax news agency said early on Friday. The agency quoted eyewitnesses as saying that about 50 armed men, dressed in uniforms that bore no designated marks, arrived at the airport in three trucks and took it over. The agency said separately a group of people had headed towards the airport, some of them carrying the ensign of the Russian navy. Full Story | Top |
| New Jersey's Christie allies joke about another traffic jam: documents Thursday, Feb 27, 2014 06:46 PM PST  By Edith Honan NEW YORK (Reuters) - Two people at the heart of a traffic scandal dogging New Jersey Governor Chris Christie joked weeks earlier about causing traffic problems in front of the home of a rabbi, documents released on Thursday show. Christie's former deputy chief of staff Bridget Anne Kelly and David Wildstein, an ally to the governor at the Port Authority of New York and New Jersey, lost their jobs over their involvement in the "Bridgegate" scandal last September that is threatening Christie's White House aspirations. Documents released by Wildstein to a state legislative committee probing the incident, in which lanes were shut near the busy George Washington Bridge, causing a huge traffic jam, reveal that on August 19 he and Kelly discussed another traffic scheme. "Flights to Tel Aviv all mysteriously delayed," Wildstein wrote in reply. Full Story | Top |
| EBay founder rejects Icahn's call for PayPal spinoff Thursday, Feb 27, 2014 06:19 PM PST  (Reuters) - EBay Inc founder and Chairman Pierre Omidyar rejected investor Carl Icahn's call to separate the company's fast-growing PayPal payments unit, saying the businesses were better off together. Omidyar, who is the largest shareholder in eBay with a stake of 8.37 percent, said separating PayPal from eBay was not a new idea and the board had evaluated the option but decided to keep the businesses together. Icahn, who disclosed a 2.15 percent stake in the e-commerce company last week, had also accused two long-time eBay board members, Marc Andreessen and Scott Cook, of having business interests that directly competed with eBay. Full Story | Top |
| Trip Tips: Austin revels in music, nature and keeping it weird Thursday, Feb 27, 2014 05:19 PM PST By Karen Brooks AUSTIN (Reuters) - At no other time of year is Austin - the self-styled live music capital of the world - so celebrated than in March, when the throngs pour into the Texas city for the 12-day music, film and interactive festival known as South by Southwest. One of the most influential music events on the planet, South by Southwest marks its 26th year on March 7-16 and draws some 25,000 industry pros and musicians to see at least 2,000 performances at more than 100 venues. Austin is a city of many superlatives, consistently ranked among the best places to live for everyone from job-seekers to singles and health nuts to hipsters. Austin was recently named by Forbes as the fastest-growing U.S. city, showing that the draw of the quirky capital of Texas far surpasses its signature South by Southwest event. Full Story | Top |
| Lawsuit against Google over Gmail faces hurdle, U.S. judge says Thursday, Feb 27, 2014 05:03 PM PST  By Dan Levine SAN JOSE, California (Reuters) - A U.S. judge on Thursday said some plaintiffs accusing Google of improperly scanning their email faced a significant hurdle in their attempt to move forward with the lawsuit as a class action. Litigation brought by nine plaintiffs, some Gmail users, some not, was consolidated before U.S. District Judge Lucy Koh in San Jose, California, last year. The plaintiffs maintain Google violated several laws, including federal anti-wiretapping statutes by systematically crossing the "creepy line" to read private email messages in order to profit, according to court documents. Koh must decide whether the lawsuit can proceed as a class action, which would allow the plaintiffs to sue as a group and give them more leverage to extract a larger settlement. Full Story | Top |
| On anniversary, Tea Party vows to move U.S. Congress to right Thursday, Feb 27, 2014 04:46 PM PST  By David Lawder WASHINGTON (Reuters) - The largest group in the conservative U.S. Tea Party movement celebrated its fifth anniversary on Thursday with a pledge to push Congress further to the right and capture the White House in 2016. At a rally in a hotel ballroom two blocks from the Capitol, lawmakers allied with the Tea Party Patriots said their movement had matured from a raucous protest against the growth of government to one that would engage with the government's machinery to promote a stronger conservative agenda. "It's about winning a civil debate, not a civil war," said Senator Mike Lee, a Tea Party Republican from Utah elected in 2010. "If we grasp onto an agenda, we will catch the Washington, D.C. establishment off-guard." Many of the suggestions thrown out by lawmakers on Thursday revolved around repealing President Barack Obama's health care reform law, balancing the federal budget, rolling back regulation viewed as oppressive and replacing the tax system with a flatter, straightforward levy - goals often voiced by mainstream Republicans. Full Story | Top |
| Bitcoin owners find safe place for digital currency: on paper Thursday, Feb 27, 2014 04:19 PM PST By Noel Randewich and Julie Gordon SAN FRANCISCO/VANCOUVER (Reuters) - Some savvy bitcoin investors have a solution to cyber-thieves and instability shaking online exchanges: they print out their virtual savings and hide them in the real world. The shuttering this week of bitcoin exchange Mt. Gox and fears that hundreds of millions of dollars worth of the virtual currency have been lost or stolen are pushing investors to tighten their security. Enthusiasts around the world use online exchanges to conveniently buy and sell bitcoins but bitcoin savings can also be kept closer to home. Canadian mortgage broker and bitcoin enthusiast Chung Cheong writes out his secret number by hand and puts it in a safety deposit box. Full Story | Top |
| Russian spy ship makes surprise visit to Havana Thursday, Feb 27, 2014 04:17 PM PST By Rosa Tania Valdés HAVANA (Reuters) - A Russian spy ship slipped into Havana Bay for an unannounced visit during a period of turmoil in Ukraine and displays of military strength elsewhere in the world. The Viktor Leonov SSV-175, part of the Vishnya class of intelligence ships, quietly entered Cuban waters earlier this week and was docked at a cruise ship terminal on Thursday, its crew casually taking in the view of the old colonial section of the Cuban capital as passers-by gawked. Russian warships have come and gone in Cuba since the collapse of the Soviet Union, usually with much publicity and the opportunity for Cubans to visit the ship. Russia has been stung by recent unrest in Ukraine, where a pro-Russian government was ousted in favor of one seeking an alliance with the West, and where Russia has a major naval base near Sevastopol on the Black Sea. Full Story | Top |
| Jos. A. Bank rejects Men's Wearhouse bid, says open to talks Thursday, Feb 27, 2014 03:52 PM PST  A. Bank Clothiers Inc rejected Men's Wearhouse Inc's revised takeover offer calling it inadequate, but said it was willing to talk with its larger rival about a higher bid. A. Bank shares rose 3.8 percent in trading after the bell on Thursday, while Men's Wearhouse shares rose 2.2 percent. Men's Wearhouse on Monday raised its cash tender offer to Jos. A. Bank shareholders to $63.50 per share from $57.50, and added it could increase the offer to $65 if it was able to conduct limited due diligence. Full Story | Top |
| Bill to revamp consumer agency passes U.S. House, unlikely to become law Thursday, Feb 27, 2014 03:51 PM PST By Emily Stephenson WASHINGTON (Reuters) - The Republican-led U.S. House of Representatives passed a bill on Thursday to overhaul the U.S. consumer financial watchdog, although the politically charged legislation stands little chance of becoming law. The Consumer Financial Protection Bureau, or CFPB, was created as part of the 2010 Dodd-Frank law to help protect Americans from financial scams. Republicans say the agency is unaccountable to lawmakers because its funding comes from the U.S. Federal Reserve, not congressional appropriations. "The Consumer Financial Protection Bureau is not responsive to Congress because it doesn't get its funding from Congress," said Wisconsin Republican Sean Duffy, who sponsored the bill. Full Story | Top |
| World Bank postpones Uganda loan over anti-gay law Thursday, Feb 27, 2014 03:50 PM PST  By Anna Yukhananov WASHINGTON (Reuters) - The World Bank on Thursday postponed a $90 million loan to Uganda's health system over a law that toughened punishment for gays, an unusual move for an institution that typically avoids wading into politics. "We have postponed the project for further review to ensure that the development objectives would not be adversely affected by the enactment of this new law," World Bank spokesman David Theis said in an email. Ugandan President Yoweri Museveni signed an anti-gay bill earlier this week that strengthens already strict laws against homosexuals by imposing a life sentence for certain violations and making it a crime to not report anyone who breaks the law. The World Bank, a poverty-fighting institution based in Washington, usually refrains from getting involved in countries' internal politics or in issues such as gay rights to avoid antagonizing any of its 188 member countries. Full Story | Top |
| Japan finance minister: Japan has not yet decided its stance on bitcoin Thursday, Feb 27, 2014 03:50 PM PST Japan's Finance Minister Taro Aso said on Friday that Tokyo has not yet determined its stance on the bitcoin virtual currency and that related government agencies will assess the situation. His comments came after Tokyo-based Mt. Gox, once the world's biggest exchange for the bitcoin crypto-currency, went blank on Tuesday after weeks of turmoil. Manhattan U.S. Attorney Preet Bharara has sent subpoenas to Mt. Gox, other bitcoin exchanges and businesses that deal in bitcoins to seek information on how they handled recent cyber attacks, a source familiar with the probe said. Full Story | Top |
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