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| Chanel turns itself into a giant supermarket for fashion week Tuesday, Mar 04, 2014 08:24 PM PST  Most designers try to make consumers dream at their fashion shows, but Karl Lagerfeld sought to bring them back into real life by presenting his latest collection in a spoof Chanel supermarket. "For me the supermarket is the pop art of today," Lagerfeld said on Tuesday after the show, admitting he rarely went to supermarkets himself. Pushing brightly colored trolleys and pretending to exchange gossip, models picked up products with tongue-in-cheek labels such as Coco beer bottles, Chateau Gabrielle white wine and Chanel crémeuh - or creamoo - milk. Others carried metallic baskets adorned with Chanel's iconic handbag chains. Full Story | Top |
| China signals focus on reforms and leaner, cleaner growth Tuesday, Mar 04, 2014 07:29 PM PST  By Kevin Yao and Xiaoyi Shao BEIJING (Reuters) - China provided its strongest signal yet that it will shift toward balanced and clean economic growth, promising to reduce the pace of investment to the lowest in a decade and wage a "war on pollution". In a State of the Union style address to China's annual parliament meeting that began on Wednesday, Premier Li Keqiang said Beijing aims to grow the world's second-largest economy by 7.5 percent this year, the same as last year's target. Analysts have said maintaining the target after years of breakneck expansion signals that Beijing will remain focused on reforms and rebalancing the economy. Li said enacting reforms was his first priority even as he keeps an eye on growth. Full Story | Top |
| China's Xi ramps up military spending in face of worried region Tuesday, Mar 04, 2014 07:27 PM PST China will increase military spending by 12.2 percent this year to 808.23 billion yuan ($131.57 billion), the government said on Wednesday, partly to beef up coastal and air defenses and to develop more high-tech weapons. "We will comprehensively enhance the revolutionary nature of the Chinese armed forces, further modernize them and upgrade their performance, and continue to raise their deterrence and combat capabilities in the information age," Premier Li Keqiang told the largely rubber-stamp legislature. Li added that China would "strengthen research on national defense and the development of new- and high-technology weapons and equipment" and "enhance border, coastal and air defenses". China's military spending is now second only to that of the United States, allowing Beijing to create a modern force that is projecting power deep into the disputed waters of the East and South China Seas. Full Story | Top |
| San Francisco moves closer to banning plastic water bottles Tuesday, Mar 04, 2014 07:26 PM PST By Laila Kearney SAN FRANCISCO (Reuters) - San Francisco moved to restrict the sale of plastic water bottles on city property on Tuesday, the first such action by a major U.S. municipality and the latest in a string of waste-reduction measures that included a ban on plastic grocery bags. The Board of Supervisors voted unanimously to begin phasing out the sale and distribution of water in single-use plastic bottles on city-owned or leased land next fall, and to ban future water bottle purchases with city funds. "There are incredible, enormous environmental costs of plastic water bottles," said Supervisor David Chiu, who introduced the measure. "It takes 1,000 years for a typical plastic water bottle to biodegrade." Numerous cities in California and other states, including Maui County and a number of Hawaiian municipalities, have made it illegal for grocery stores to pack consumer purchases in plastic bags, and a bill recently introduced in the state legislature would extend such bans statewide. Full Story | Top |
| China to 'declare war' on pollution, premier says Tuesday, Mar 04, 2014 07:20 PM PST  China is to "declare war" on pollution, Premier Li Keqiang said on Wednesday at the opening of the annual meeting of parliament, with the government unveiling detailed measures to tackle what has become a hot-button social issue. It is not uncommon for air pollution in parts of China to breach levels considered by some experts to be hazardous. Full Story | Top |
| China services activity ticks up in January: HSBC PMI Tuesday, Mar 04, 2014 07:06 PM PST  BEIJING (Reuters) - Activity in China's services industry ticked up in February from a 2-1/2-year low the previous month, a private survey showed on Wednesday, confirming other data showing a pick-up in services even as manufacturing activity slows. The HSBC/Markit Services Purchasing Managers' Index (PMI) rose to 51.0 in February from January's 50.7, buoyed by new orders, remaining above the 50 line that separates expansion from contraction. ... Full Story | Top |
| Japan concerned about lack of clarity in China's defense policy Tuesday, Mar 04, 2014 06:44 PM PST China's lack of clarity in defence spending is a source of concern for the world and for Japan, Japanese Chief Cabinet Secretary Yoshihide Suga said on Wednesday. Suga also told a news conference that the jump in China's 2014 military budget, which China said earlier in the day would rise by 12.2 percent, is something that Japan is keeping an eye on and that Tokyo will stay in close contact with other nations. Full Story | Top |
| Japan to set bitcoin rules, stop banks and brokerages from handling Tuesday, Mar 04, 2014 06:34 PM PST  By Noriyuki Hirata TOKYO (Reuters) - Japan will this week clarify the legal handling of bitcoin, people familiar with the matter said, the first sign that the government is taking action on regulating the virtual currency after the collapse last week of Tokyo-based Mt. Gox, once the world's largest bitcoin exchange. Bitcoin is a digital currency that, unlike conventional money, is bought and sold on a peer-to-peer network independent of central control. Japan has struggled to define its approach to bitcoin since the collapse of Mt. Gox, which filed for bankruptcy protection in Tokyo on Friday saying it had lost bitcoins and cash worth some half a billion dollars due to hacker attacks on what it said was its lax computer system security. Japan's Finance Ministry and Financial Services Agency have said bitcoin is not a currency and doesn't fall under their purview, while the Bank of Japan has said it was studying the bitcoin phenomenon with interest. Full Story | Top |
| Yahoo to stop user access of services with Facebook, Google IDs Tuesday, Mar 04, 2014 06:17 PM PST  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Yahoo Inc will stop letting consumers access its various online services, including Fantasy Sports and photo-sharing site Flickr, by signing-in with their Facebook Inc or Google Inc credentials. The change, which will be rolled out gradually according to a Yahoo spokeswoman, will require users to register for a Yahoo ID in order to use any of the Internet portal's services. The move marks the latest change to Yahoo by Chief Executive Marissa Mayer, who is striving to spark fresh interest in the company's Web products and to revive its stagnant revenue. "Yahoo is continually working on improving the user experience," the company said in a statement, noting that the new process "will allow us to offer the best personalized experience to everyone". Full Story | Top |
| Obama eyes boost in space taxi spending, Jupiter moon mission Tuesday, Mar 04, 2014 06:06 PM PST  By Irene Klotz CAPE CANAVERAL, Florida (Reuters) - President Barack Obama's 2015 NASA budget plan includes funding for a robotic mission to an ocean-bearing moon of Jupiter and could help boost commercial ventures to fly astronauts to the International Space Station, NASA officials said on Tuesday. The White House is requesting a $17.5 billion budget for the U.S. space agency in the fiscal year that begins October 1. That marks a 1 percent decrease from NASA's 2014 budget. But NASA could also have access to an additional $900 million from Obama's proposed Opportunity, Growth and Security Initiative, a $56 billion fund for special projects that is separate from the regular budget. Full Story | Top |
| U.S. Air Force to fund rescue helicopter in last-minute reversal Tuesday, Mar 04, 2014 06:03 PM PST  By Andrea Shalal and David Alexander WASHINGTON (Reuters) - The U.S. Air Force decided on Tuesday to start work on a new rescue helicopter by United Technologies Corp's Sikorsky Aircraft in fiscal 2015, a surprising turnaround hours after the Pentagon told Congress the program had been postponed. Air Force Secretary Deborah James made the abrupt decision on the Combat Rescue Helicopter (CRH) program shortly before officials began briefing reporters about the Air Force's budget for the fiscal year beginning October 1. Influential lawmakers had pressed for the change, which was the latest twist in a nearly decade-long quest by the Air Force to replace its aging fleet of Sikorsky HH-60 Pave Hawk helicopters. "Over the last 10 years, the Air Force has discussed upgrading the platform that performs this sacred mission for all DoD personnel who go into harm's way," said James, referring to the Department of Defense. Full Story | Top |
| Obama, Germany's Merkel discuss potential resolution to Ukraine crisis Tuesday, Mar 04, 2014 05:59 PM PST  By Steve Holland and Roberta Rampton WASHINGTON (Reuters) - President Barack Obama spoke to German Chancellor Angela Merkel on Tuesday about a potential resolution to the crisis ignited by Russian intervention in Ukraine's Crimea region, a senior administration official said. Under the proposal, Russia would pull back its forces in Crimea to their bases in the region, limit the Russian troop numbers to a Ukraine-mandated ceiling of 11,000, and allow in international monitors to ensure the human rights of ethnic Russians are being protected, the official said. The so-called off-ramp out of the crisis would allow for direct discussions between the Russians and the new Ukraine government with the potential for some international mediation. Ukraine elections in May would proceed. Full Story | Top |
| Los Angeles moves to ban e-cigarettes, joining NY, others Tuesday, Mar 04, 2014 05:56 PM PST  By Dan Whitcomb and Steve Gorman LOS ANGELES (Reuters) - The Los Angeles City Council voted on Tuesday to ban the use of electronic cigarettes, also known as "vaping," from restaurants, bars, nightclubs and other public spaces in the nation's second-largest city. A spokeswoman for Mayor Eric Garcetti confirmed to Reuters that he would sign the measure into law in the coming days. When he does, Los Angeles will join a growing list of cities, including New York, Boston and Chicago, that restrict the use of e-cigarettes, which are battery-powered cartridges filled with liquid nicotine that creates an inhalable vapor when heated. "We have an obligation to protect the workforce from the effects of secondhand aerosol exhaled by people who choose to 'vape' on e-cigarettes," said City Council member Mitch O'Farrell, who co-sponsored the proposal. Full Story | Top |
| Instant View: China aims for 7.5 percent economic growth in 2014 Tuesday, Mar 04, 2014 05:28 PM PST (Reuters) - China will maintain its economic growth target for 2014 at about 7.5 percent, as expected, signaling that its policy focus would be slanted in favor of reforms and rebalancing the economy. Premier Li Keqiang, in a report to the National People's Congress at the start of its annual session on Wednesday, also said military spending will increase by 12.2 percent. Key points - 2014 growth target set at about 7.5 percent - China to make domestic demand main growth engine - 2014 CPI target set at about 3.5 pct - Total trade expected to increase 7.5 pct in 2014 - 2014 Budget deficit seen at 2.1 pct of GDP - China to continue with exchange rate reform - China to extend yuan floating rate - Military spending to increase by 12.2 percent COMMENTARY: KEVIN LAI, ECONOMIST, DAIWA CAPITAL MARKETS, HONG KONG: "7.5 percent is in line with the target last year. Full Story | Top |
| Yosemite bears turn health nuts with junk food off menu Tuesday, Mar 04, 2014 05:02 PM PST By Alex Dobuzinskis LOS ANGELES (Reuters) - Bears in Yosemite National Park in California have adopted the wildlife version of a health food diet after increased safety measures largely blocked them from scavenging for food in campgrounds over the last 15 years, a study showed on Tuesday. An estimated 350 to 400 black bears roam Yosemite, one of the most popular U.S. tourist destinations. Interactions between the park's bears and people reached a record level in 1998 as the animals raided campgrounds and broke into cars in search of groceries and leftovers, according to Yosemite spokesman Scott Gediman. After recording 1,584 human-bear interactions that year, the park east of San Francisco adopted a policy in 1999 that included placing bear-resistant food storage containers at campgrounds and cracking down more forcefully on people leaving out items like chips or bread, Gediman said. Full Story | Top |
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