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| BOJ stands pat, keeps upbeat view despite Japan slowdown Monday, Apr 07, 2014 08:57 PM PDT  By Leika Kihara TOKYO (Reuters) - The Bank of Japan stuck to its existing monetary stimulus on Tuesday, confident that it did not need further support measures to beat chronic deflation even as a sales tax hike clouds the outlook for the world's third-largest economy. The central bank maintained its upbeat view on the economic outlook and affirmed its conviction that Japan is on track to meet its 2 percent inflation target by around April next year, signaling that no further easing was on its near-term horizon. But it did take note of its own "tankan" survey last week that showed companies see a worse impact on consumers from the April 1 sales tax hike than from the previous increase in 1997. "Japan's economy continues to recover moderately as a trend, albeit with some fluctuations caused by the tax hike," the BOJ said in a statement announcing the policy decision. Full Story | Top |
| Asian shares shrug off losses, yen holds gains Monday, Apr 07, 2014 08:55 PM PDT  By Lisa Twaronite TOKYO (Reuters) - Asian stocks shrugged off their early losses and steadied on Tuesday, though Japanese shares slumped as the yen clung to its gains even after the Bank of Japan held policy steady. MSCI's broadest index of Asia-Pacific shares outside Japan added about 0.3 percent. Japan's Nikkei stock average bucked the regional trend and slumped 1.1 percent to touch its lowest levels in a week and a half. The BOJ kept monetary policy steady on Tuesday and maintained its view the economy is likely to continue recovering moderately, signaling its confidence the country is making steady progress toward meeting the bank's price target. Full Story | Top |
| U.S. movie studios sue Megaupload, founder Dotcom Monday, Apr 07, 2014 08:26 PM PDT  By Bernard Vaughan NEW YORK (Reuters) - Several major U.S. studios filed a copyright infringement lawsuit on Monday against the file-sharing website Megaupload and its ebullient founder, Kim Dotcom. Megaupload, which U.S. authorities shuttered in 2012, facilitated a "massive copyright infringement of movies and television shows," according to a statement issued by the Motion Picture Association of America on Monday. The plaintiffs in the lawsuit, all MPAA members, are Twentieth Century Fox Film Corp, Disney Enterprises Inc, Paramount Pictures, Universal Studios Productions, Columbia Pictures and Warner Bros Entertainment Inc. "Megaupload wasn't a cloud storage service at all, it was an unlawful hub for mass distribution," Steven Fabrizio, an attorney for the MPAA, said in the statement. Full Story | Top |
| Japan, fresh from Australia pact, says U.S. trade talks 'difficult' Monday, Apr 07, 2014 08:19 PM PDT  Japan, fresh from clinching a basic trade deal with Australia after years of negotiations, said it hoped for a similar result with the United States and for a regional pact, but cautioned that talks were "difficult." Japan and the United States are pushing for a two-way trade deal, a crucial part of a broad U.S.-led Trans-Pacific Partnership (TPP) before U.S. President Barack Obama arrives in Japan later this month, with U.S. Trade Representative Michael Froman arriving for talks with Economy Minister Akira Amari. Australian Prime Minister Tony Abbott and Japanese Prime Minister Shinzo Abe confirmed a basic agreement on a deal on Monday, overcoming sticking points on beef and automobiles that had long stymied an agreement, and agreed to work towards signing it as soon as possible. Full Story | Top |
| Gloves off as India's BJP woos the Hindu vote in northern heartland Monday, Apr 07, 2014 08:07 PM PDT  By Sharat Pradhan MUZAFFARNAGAR, India (Reuters) - India's main opposition party, tipped to form the next government, appears to be returning to its Hindu nationalist roots at the start of a five-week general election, raking up divisive issues and using strong language in an area hit by religious riots. Criss-crossing the country for months before the first phase of voting began on Monday, the Bharatiya Janata Party (BJP) and its candidate for prime minister, Narendra Modi, had mainly campaigned on a ticket of better governance, economic development and job creation. But just hours after voting started, the election commission demanded an explanation from Modi's chief aide Amit Shah, accusing him of incendiary speeches in towns where dozens of people, mostly Muslims, were killed in Hindu-Muslim riots last year. When justice is not done to all the parties and the action is one-sided action, then the public is forced to come out in the streets," Shah said in the town of Muzaffarnagar in Uttar Pradesh state last week, according to a transcript provided by the commission. Full Story | Top |
| Quebec Liberals replace separatists with majority government Monday, Apr 07, 2014 07:54 PM PDT  By Randall Palmer OTTAWA (Reuters) - The anti-separatist Quebec Liberal Party won a majority government in provincial elections on Monday, eliminating the possibility of a new referendum on separation from Canada for several years. The Quebec Liberals, who had warned incessantly of the dangers of another referendum, trounced the separatist Parti Quebecois, which had called the election in a bid to turn their minority government into a majority. The election in the mainly French-speaking province had turned into a referendum on whether to hold another vote on separating from Canada, and the answer appeared to be a resounding "Non." The Liberals led in 71 of the 125 races, and the Parti Quebecois led in just 29, its lowest since 1989. The Parti Quebecois took the lowest share of the vote since it won 23.1 percent in its first election in 1970. Full Story | Top |
| Britain plans tighter controls on betting machines Monday, Apr 07, 2014 07:52 PM PDT  By Keith Weir LONDON (Reuters) - Britain plans to tighten controls on the high-stakes gambling machines whose numbers have grown rapidly in town centre betting shops in recent years, sparking a warning from the gaming industry that hundreds of jobs could be put at risk. But bookmakers said in a letter to Prime Minister David Cameron on Monday that changes to tax and regulation of the machines would cost the industry 350 million pounds a year and could put more than 2,000 betting shops out of business. In addition, the government now says it wants to make voluntary warnings introduced by bookmakers last month tougher and mandatory, hoping to guard against an increase in problem gambling. Shares in leading gaming companies William Hill and Ladbrokes were down 1 percent and 2 percent respectively by 1400 GMT, while the FTSE 100 index of leading shares was down 0.7 percent. Full Story | Top |
| Expenses scandal roils Cameron ahead of European elections Monday, Apr 07, 2014 07:33 PM PDT  By Andrew Osborn LONDON (Reuters) - Prime Minister David Cameron's handling of an expenses scandal engulfing one of his ministers has put him under pressure before European elections, threatening his Conservative party's already clouded electoral outlook. Cameron, whose party risks being beaten into third place in next month's European Parliament elections behind the anti-EU UKIP, has stood by Maria Miller, the minister for culture, since a parliamentary report ordered her to pay back wrongly claimed expenses last week. But the media and public backlash against Miller shows no sign of abating despite Cameron's efforts to end it. At a time when he is trying to take on UKIP and woo voters by claiming credit for Britain's economic recovery, he instead finds himself being asked every day why he hasn't sacked Miller. Full Story | Top |
| Creditors say Detroit bankruptcy plan lacks needed details Monday, Apr 07, 2014 07:30 PM PDT  (Reuters) - Creditor objections flowed into a U.S. bankruptcy court on Monday, claiming a document supporting Detroit's plan to deal with $18 billion of debt and other obligations is missing crucial details. Labor unions, bond insurers, bondholders, city retiree groups and Michigan county governments met Monday's deadline set by the court and filed laundry lists of objections to the city's disclosure statement. That statement explains how Detroit came to file the biggest municipal bankruptcy in U.S. history in July 2013 and how the city plans to treat its scores of secured and unsecured creditors in order to exit bankruptcy. Detroit's biggest union, the American Federation of State, County and Municipal Employees Council 25, whose members face cuts in retirement benefits, wrote that "the city has failed to provide large amounts of critical information." The union also said the city was remiss in not addressing any fallout from pension cuts. Full Story | Top |
| Barclays settles Libor 'test case' before UK trial Monday, Apr 07, 2014 07:29 PM PDT  By Steve Slater LONDON (Reuters) - Barclays has reached a settlement with a UK care home operator weeks before the start of a court case that was seen as a test case for whether customers might sue banks over the manipulation of Libor interest rates. Barclays had been accused by the care home operator of mis-selling products linked to benchmark interest rates and senior Barclays employees and former executives, including former chief executive Bob Diamond, had been due to testify at the trial. The case was being closely watched by banks and their customers, after Barclays and several other lenders were fined for manipulating Libor or its euro equivalent Euribor. If Barclays had lost it was expected to open the door for more bank clients to claim they were mis-sold products linked to Libor. Full Story | Top |
| Ministers summoned for fresh grilling on Royal Mail sell-off Monday, Apr 07, 2014 07:28 PM PDT  Business Secretary Vince Cable was on Monday summoned to face lawmakers for a third time over the government's privatisation of Royal Mail, after a watchdog report last week said the postal company had been sold off too cheaply. In October last year the government sold 60 percent of Royal Mail at 330 pence per share, ending 500-years of state control and raising 2 billion pounds for the public purse. Full Story | Top |
| Labour party targets non-London voters with devolution plan Monday, Apr 07, 2014 07:24 PM PDT  Ed Miliband will on Tuesday appeal to voters living outside London by offering to double the spending powers of regions and cities in England if his Labour party wins the next election. Labour have a 4 percentage point opinion poll lead over Prime Minister David Cameron's Conservatives heading into a 2015 election. Identifying devolution as path to greater prosperity outside London, Miliband will offer a two-fold increase in the funding under the control of English cities and regions if they come up with an economic strategy to generate well-paid jobs. "We need a prosperous London, but we also need to build prosperity outside it," Miliband will say according to extracts of his speech released in advance. Full Story | Top |
| U.S. House panel to vote on swaps regulator mandate Monday, Apr 07, 2014 07:21 PM PDT  By Douwe Miedema WASHINGTON (Reuters) - Four U.S. lawmakers launched a bill on Monday to rewrite the rules of the Commodity Futures Trading Commission (CFTC), giving more leeway to smaller players in the derivative markets it oversees. The agency became one of the most prolific reformers of Wall Street after the financial crisis under its previous Chairman Gary Gensler, who was frequently criticized for his hard-nosed style and sometimes-hasty adoption of new rules. In a so-called reauthorization bill to fine-tune the CFTC's mandate, the chairman and the highest-ranking Democrat on the House Agriculture Committee drew up a list of changes to many of the controversial rules the agency has written. "The CFTC's rulemaking process has been less than ideal. Full Story | Top |
| Father on trial, daughter denies wanting Iraqi-American mother dead Monday, Apr 07, 2014 06:59 PM PDT  By Marty Graham SAN DIEGO (Reuters) - The daughter of an Iraqi-American man accused of killing his wife in California in what was first investigated as a hate crime denied under cross-examination by a defense lawyer on Monday that she ever said she wanted her mother dead. Fatima Alhimidi acknowledged telling an uncle's then-girlfriend that she hated her mother because the two had fought over her romance with a local Chaldean Christian boy, a relationship that would be taboo in many Muslim families. I don't think so." The questions appeared to be part of a defense strategy to suggest that the father, 49-year-old Kassim Alhimidi, may not have been the only person with a possible motive for killing the stay-at-home mother of five in her San Diego-area home. When it was his turn to question Alhimidi, San Diego County Deputy District Attorney Kurt Mechals asked her directly if she had anything to do with the crime. Full Story | Top |
| U.S. presses on with Middle East talks rescue attempt Monday, Apr 07, 2014 05:59 PM PDT  By Jeffrey Heller JERUSALEM (Reuters) - U.S. efforts to save Middle East peace talks from collapse showed little sign of progress on Monday amid threats from Israel to retaliate for what it saw as unilateral Palestinian moves towards statehood. The U.S.-brokered negotiations plunged into crisis last week after Israel, demanding a Palestinian commitment to continue talking after the end of the month, failed to carry out a promised release of about two dozen Palestinian prisoners. Palestinian President Mahmoud Abbas responded by signing 15 global treaties, including the Geneva Conventions on the conduct of war and occupations, on behalf of the State of Palestine, a defiant move that surprised Washington and angered Israel. In a statement later about the Monday meeting, she said: "Gaps remain but both sides are committed to narrow the gaps." Secretary of State John Kerry signaled on Friday he may scale back his intense mediating efforts due to "unhelpful actions" by Israel and the Palestinians, saying it was time for a "reality check" and Washington would re-evaluate its role. Full Story | Top |
| Search for missing Malaysia plane set to move to sea floor Monday, Apr 07, 2014 05:55 PM PDT  Angus Houston, head of the Australian agency coordinating the search for Malaysia Airlines Flight MH370, said the month-long hunt was at a critical stage given the black box recorder batteries were dying - or had died. An Australian ship that picked up signals consistent with the beacons from aircraft black box recorders over the weekend had not registered any further pulses, Houston said. "The locator beacon has a shelf life of 30 days and we are now passed that time and as a consequence there is a chance that the locator beacon is about to cease transmission, or has ceased transmission," Houston told Australian Broadcasting Corp radio. Full Story | Top |
| Property tax hike dropped from Chicago pension bill Monday, Apr 07, 2014 05:43 PM PDT Chicago Mayor Rahm Emanuel on Monday removed any mention of new or higher taxes in his legislation to ease the city's retirement funding shortfalls just hours after the bill came under attack by Illinois Governor Pat Quinn. But the legislation would continue to require Chicago to pay what it owes annually to the funds or the state would withhold money due the city. The bill also gives pension funds the ability to sue the city over payments. "Working with legislative leaders, bill sponsors, the governor, and our partners in labor, we have addressed their concerns and can now move forward to save the retirements of nearly 60,000 city workers and retirees in Chicago," Emanuel said in a statement. Full Story | Top |
| BlackBerry defeats NXP in U.S. trial over patents Monday, Apr 07, 2014 05:42 PM PDT  A federal jury in Florida on Monday ruled in favor of Blackberry Ltd in a lawsuit accusing the company of infringing three patents belonging to Dutch semiconductor company NXP BV. NXP in April 2012 sued BlackBerry, then known as Research in Motion, alleging that versions of the BlackBerry phone and PlayBook tablet infringed patents related to the design, data transmission and other features of those devices. The lawsuit originally covered six patents, but NXP later dropped its claims related to three of the patents. Jurors needed less than a day of deliberations before ruling in BlackBerry's favor, in a trial that began on March 24, court records show. Full Story | Top |
| U.N. rights expert urges debt relief for Philippines Monday, Apr 07, 2014 05:33 PM PDT  A United Nations human rights expert on Tuesday urged international creditors to cancel the Philippines' debt and give it unconditional grant aid instead of new loans to fund massive post-typhoon reconstruction. The Southeast Asian country, hit hard five months ago by Typhoon Haiyan -- one of the strongest storms to make landfall anywhere -- estimated the total cost of a four-year reconstruction effort could surpass the current estimate of 361 billion pesos ($8 billion). The Philippines' outstanding external debt was $58.5 billion at the end of 2013, according to the central bank. "I welcome the international support provided to the Philippines in the aftermath of the cyclone, but am concerned that more than $22 million leaves the country every day, paying off overseas debts," Cephas Lumina said. Full Story | Top |
| Body found in Indiana lake may be that of missing Michigan doctor Monday, Apr 07, 2014 05:33 PM PDT By Brendan O'Brien (Reuters) - Police have told the parents of a missing Michigan doctor a body recovered from a northwestern Indiana lake may be that of their daughter, a private investigator working the case said on Monday. Teleka Patrick went missing on December 5 after attempting to check into a hotel in Kalamazoo, Michigan, where she lived, according to Jim Carlin, a Michigan investigator her family hired about three months ago to look for her. The lake is near the spot where an Indiana State Police trooper found Patrick's car abandoned along Interstate 94 on December 5. It is unclear why she left Michigan and drove to Indiana and why she was attempting to rent a hotel room in the city where she lived, Carlin said. Full Story | Top |
| U.S. warns China over currency depreciation Monday, Apr 07, 2014 05:32 PM PDT  The United States warned Beijing on Monday that the recent depreciation of the Chinese currency could raise "serious concerns" if it signaled a policy shift away from allowing market-determined exchange rates. Washington has been pressing China for years to allow its currency to trade at stronger values. Last month, U.S. Treasury Secretary Jack Lew welcomed a decision by China to allow its currency to vary more against the dollar in daily trading. Monday's comments by a senior official from the Treasury Department suggested the United States was not completely sold on China's intention to reduce authorities' interventions in exchange markets. Full Story | Top |
| Senate votes to bar proposed Iran U.N. ambassador from country Monday, Apr 07, 2014 05:20 PM PDT The U.S. Senate passed legislation on Monday seeking to bar Iran's proposed U.N. ambassador, Hamid Abutalebi, from entering the United States. The legislation, introduced by Texas Republican Senator Ted Cruz, would prevent "known terrorists" from entering the United States to serve as U.N. ambassadors. The Democratic-controlled Senate passed the measure by a voice vote. Several lawmakers had said they were infuriated that Iranian President Hassan Rouhani would make such a choice, and the State Department had expressed concern. Full Story | Top |
| Minnesota NBA basketball forward arrested after threatening girlfriend Monday, Apr 07, 2014 05:08 PM PDT  By David Bailey MINNEAPOLIS (Reuters) - Minnesota Timberwolves basketball team forward, Dante Cunningham, charged last week with choking his live-in girlfriend during a domestic assault, is now suspected of sending her threatening messages, police said on Monday. Cunningham, 26, was arrested on a felony domestic assault charge and ordered to stay away from the woman after an alleged attack on Thursday in Medina, Minnesota, a suburb west of Minneapolis. He then traveled to Orlando, and played nearly 34 minutes in a 100-92 loss against the Orlando Magic on Saturday. The Timberwolves have already been eliminated from the NBA playoff contention. Full Story | Top |
| Safety group calls for U.S. probe of Chevy Impala air bags Monday, Apr 07, 2014 05:06 PM PDT  General Motors, which has recalled 2.6 million cars for faulty ignition switches that caused air bags to deactivate, may also have a defect in air bags in 2003 to 2010 Chevrolet Impalas, an auto safety watchdog group said on Monday. In a letter to the National Highway Traffic Safety Administration, the Center for Auto Safety said that the computer code, or algorithm, which determines when an air bag deploys in an accident, may improperly turn off the air bag if the passenger is bounced in his or her seat just before an accident. Air bags are not designed to deploy when a passenger's weight is below a certain amount, and a bouncing motion, even when the person is belted, could reduce the weight registered by the seat sensor linked to the air bag algorithm. There have been 143 fatalities in front-impact crashes in 2000-2010 model year Impalas in which the air bags failed to deploy, according to the center, and in 98 of them, the occupants were wearing safety belts. Full Story | Top |
| Congressman apologizes after compromising video posted Monday, Apr 07, 2014 05:06 PM PDT  A married Republican U.S. representative apologized on Monday after a Louisiana newspaper posted a surveillance video showing a man it identified as the congressman kissing a woman from his office staff. "There's no doubt I've fallen short and I'm asking for forgiveness," Representative Vance McAllister said in a statement issued by his office. "I'm asking for forgiveness from God, my wife, my kids, my staff, and my constituents who elected me to serve." Vance, who took office last November in a special election that he won partly by touting his Christian values, made the statement after the Ouachita Citizen in West Monroe, Louisiana, posted the video on its website. The paper said the woman was a married member of McAllister's staff. Full Story | Top |
| Canadian bill would force railways to pay for poor service Monday, Apr 07, 2014 05:03 PM PDT Canadian legislators on Monday amended a bill designed to ensure grain moves smoothly by rail by allowing the government to order railways to compensate shippers for poor service. The government's Canadian Transportation Agency currently has authority only to arbitrate matters on which the parties mutually agree. Railways can avoid paying compensation simply by refusing to negotiate a service level agreement with shippers that includes penalties, said Jeff English, spokesman for Agriculture Minister Gerry Ritz. The House of Commons agriculture committee approved an amendment proposed by Conservative government member of Parliament Pierre Lemieux that gives the agency authority to order compensation for expenses incurred due to railways' failure to deliver service. Full Story | Top |
| Smooth Afghan election raises questions about Taliban's strength Monday, Apr 07, 2014 04:59 PM PDT  By John Chalmers and Maria Golovnina KABUL (Reuters) - A bigger-than-expected turnout in Afghanistan's presidential election and the Taliban's failure to significantly disrupt the vote have raised questions about the capacity of the insurgents to tip the country back into chaos as foreign troops head home. The Taliban claimed that they staged more than 1,000 attacks and killed dozens during Saturday's election, which they have branded a U.S.-backed deception of the Afghan people, though security officials said it was a gross exaggeration. There were dozens of minor roadside bombs, and attacks on polling stations, police and voters during the day. But the overall level of violence was much lower than the Taliban had threatened to unleash on the country. Full Story | Top |
| Senate votes to extend jobless benefits, faces divided House Monday, Apr 07, 2014 04:41 PM PDT  By Thomas Ferraro WASHINGTON (Reuters) - The Democratic-led U.S. Senate passed a bill on Monday to restore expired jobless benefits for 2.4 million Americans who have been out of work for at least six months. President Barack Obama responded by urging the Republican-led House of Representatives to give the measure final approval so he can sign it into law. "The Senate just took action on a bipartisan bill" to renew unemployment insurance, Obama said in a Twitter message. "It's up to the House to follow suit." The bill, passed by the Senate 59-38, had long seemed certain to die in the House amid stiff Republican opposition. Full Story | Top |
| Rescued sailboat family set to return to San Diego on Wednesday Monday, Apr 07, 2014 04:34 PM PDT  By Steve Gorman LOS ANGELES (Reuters) - A family of four rescued from their sailboat after the youngest of two children became seriously ill are due to return to California on Wednesday aboard a U.S. warship that picked them up over the weekend, Navy and Coast Guard officials said. Military officials declined on Monday to give any details on the medical condition of 1-year-old Lyra Kaufman except to say that she, her 3-year-old sister, Cora, and their parents, Eric and Charlotte Kaufman, were all safe as they headed back to port in San Diego. "I know she's stable enough to stay on board the ship to continue to San Diego," Coast Guard spokeswoman Lieutenant Anna Dixon said. Full Story | Top |
| UK services firms hit new export high in first quarter - BCC survey Monday, Apr 07, 2014 04:20 PM PDT  By William Schomberg LONDON (Reuters) - British services firms reported the fastest growth in exports on record in the first quarter of 2014 and manufacturers also got off to a strong start to the year, a survey showed on Tuesday. The British Chambers of Commerce (BCC) said its quarterly economic survey suggested the pace of economic recovery would continue in the short term. The findings will be a boost for Chancellor George Osborne, who has been trying to promote exports and manufacturing ever since the government took office in 2010 and is on a trade mission to Brazil this week. "The results of our survey suggest that growth is strengthening in the short-term, and support our recent forecasts that the economic recovery is moving at a solid pace," said BCC chief economist David Kern. Full Story | Top |
| Obamacare 'accomplishing goal': Gallup poll Monday, Apr 07, 2014 04:09 PM PDT  By Curtis Skinner NEW YORK (Reuters) - The percentage of Americans without health insurance dipped to its lowest in nearly six years due in part to U.S. President Barack Obama's healthcare reform law, commonly known as Obamacare, according to a Gallup poll released on Monday. Some 15.6 percent of Americans lacked health insurance in the first three months of 2014, down from a high of 18 percent in late 2013, according to the Gallup-Healthways Well-Being Index survey. "'Obamacare' appears to be accomplishing its goal of increasing the percentage of Americans with health insurance coverage," the report said. Black and low-income Americans saw some of the most pronounced drops in the uninsured rate, with declines of more than 3 percentage points. Full Story | Top |
| Permanent staff salaries rising at fastest rate since 2007 - REC Monday, Apr 07, 2014 04:03 PM PDT  The figures from the Recruitment and Employment Confederation suggest Britain's strong economic recovery last year is finally translating into higher pay. However, they also raise questions about whether domestic inflation might soon start to rise above the Bank of England's 2 percent target. "Starting salaries and hourly pay rates are up as employers battle to entice the talent they need," REC policy director Tom Hadley said. Full Story | Top |
| Ex-Atlanta school superintendent's trial delayed for health reasons Monday, Apr 07, 2014 03:50 PM PDT By David Beasley ATLANTA (Reuters) - After a courtroom outburst from a civil rights leader, a judge on Monday delayed the trial of a terminally ill former Atlanta school superintendent accused of conspiring to alter students' standardized test scores. Beverly Hall, who resigned her job as head of Atlanta school system in 2011, was supposed to stand trial on felony charges next month. But her attorneys requested a delay, arguing that chemotherapy treatment for Hall's advanced breast cancer would make it difficult for her to endure a lengthy trial. Her case has attracted attention from civil rights leaders who feel her prosecution is a waste of taxpayers' money given the state of her health. Full Story | Top |
| Pratt must push harder to cut F-35 engine cost: Pentagon Monday, Apr 07, 2014 03:45 PM PDT  By Andrea Shalal WASHINGTON (Reuters) - Pratt & Whitney, the engine-making unit of United Technologies Corp, must redouble efforts to lower the cost of the single F135 engine it builds for the Lockheed Martin Corp F-35 fighter jet, a top U.S. military official said on Monday. Rear Admiral Randy Mahr, deputy director of the Pentagon's $392 billion F-35 program, said Pratt had slowed its cost-cutting after Congress in 2011 canceled an alternate engine being developed by General Electric Co. "We have reinvigorated the 'war on cost' that Pratt started and then kind of slowed down on when they got the monopoly," Mahr told industry executives and military officials at an annual conference hosted by the Navy League. The comments revealed continuing friction between the program office that runs the Pentagon's costliest weapons program and Pratt at a time when the F-35 program chief, Air Force Lieutenant General Chris Bogdan has talked about improved relations with Lockheed, the prime contractor that builds the airplane. Full Story | Top |
| House conservatives offer more austere alternative to Ryan budget Monday, Apr 07, 2014 03:42 PM PDT By David Lawder WASHINGTON (Reuters) - Conservative Republicans who believe that Representative Paul Ryan's budget plan does not cut spending fast or deeply enough will get a chance to support an alternative plan that aims to balance the budget in just four years instead of 10. The Republican Study Committee, the most influential bloc of House of Representatives conservatives, on Monday unveiled its "Back to Basics" budget as an amendment that would replace Ryan's plan in a House floor vote this week. The study committee's version includes $7.4 trillion in spending cuts compared with Ryan's proposed $5.1 trillion in cuts. Full Story | Top |
| Brazil falling short in rush to overhaul World Cup airports Monday, Apr 07, 2014 03:37 PM PDT  By Brad Haynes and Anthony Boadle SAO PAULO/BRASILIA (Reuters) - With less than 10 weeks until the start of the World Cup, work on crucial new airport terminals has fallen behind in most of the dozen Brazilian host cities, heightening the risk of overcrowding and confusion during the tournament. A temporary canvas terminal will be used instead of a planned airport expansion to receive fans in Fortaleza, which will host six matches including Brazil's game against Mexico. During President Dilma Rousseff's visit to an airport in Belo Horizonte, the site of a semi-final, officials admitted on Monday that construction would not be completed in time. "Other airports have not said anything yet, but they will probably have to come up with contingencies," said Carlos Ozores, a principal at aviation consultancy ICF International who has consulted for Brazilian airlines and airport operators. Full Story | Top |
| U.S. government rolls back proposed Medicare Advantage cut Monday, Apr 07, 2014 03:33 PM PDT The Obama administration on Monday rolled back some of the more controversial cuts proposed for privately managed Medicare health plans used by the elderly following pressure from insurance companies and lawmakers. The Centers for Medicare and Medicaid Services (CMS) said that on average, reimbursement for such Medicare Advantage plans in 2015 would rise 0.4 percent, reversing what is said was a 1.9 percent average reduction proposed in February. The proposed cuts had also figured into Republicans' criticism of President Barack Obama's healthcare law. "They were asking for flat (reimbursement) but no one ever thought they would get close to it," said Ipsita Smolinski, managing director of Capitol Street, a healthcare consulting firm based in Washington, D.C. Shares in health insurers with large Medicare Advantage businesses, like Humana and UnitedHealth Group Inc, were trading slightly higher after the announcement. Full Story | Top |
| Accused Colorado movie theater gunman seeks change of venue Monday, Apr 07, 2014 03:14 PM PDT  By Keith Coffman DENVER (Reuters) - Lawyers for the man charged with mass murder in a 2012 shooting frenzy that left 12 people dead at a Colorado movie theater have asked that his upcoming trial be moved out of the suburban Denver county where the case has been prosecuted. Defense attorneys argued in their motion for a change of venue that James Holmes' right to a fair trial in Arapahoe County has been compromised by "pervasive media coverage" of the case locally and "the undeniable impact of the tragedy on the community itself." Holmes, 26, has pleaded not guilty by reason of insanity to murder and attempted murder charges stemming from the July 2012 massacre at an Aurora, Colorado, cinema during a midnight screening of the Batman film "The Dark Knight Rises." Twelve moviegoers were killed and 70 others hurt in one of the deadliest outbursts of U.S. gun violence in decades. Holmes' public defenders argued that the glare of publicity, including voluminous commentary and reporting on evidence ruled inadmissible at trial, would make it impossible to seat an impartial jury in Arapahoe County. Full Story | Top |
| Valls seeks reform boost with French confidence vote Monday, Apr 07, 2014 03:07 PM PDT  New Prime Minister Manuel Valls will test France's political will to reform on Tuesday in a confidence vote that will determine whether the government can push ahead with a competitiveness drive. Valls, appointed by President Francois Hollande last week after the ruling Socialists suffered an election rout, is to launch plans to phase out 30 billion euros ($41 billion) in payroll tax on companies in exchange for hiring. Valls, one of France's most popular politicians, is to outline his priorities in his first major policy speech at 15:00 (1300 GMT), before the confidence vote. Full Story | Top |
| U.S. childhood obesity rates have increased since 1999: study Monday, Apr 07, 2014 03:06 PM PDT By Andrew M. Seaman NEW YORK (Reuters Health) - U.S. childhood obesity rates have increased over the past 14 years, according to a study published on Monday, casting doubt on a recent analysis by government health researchers that found a sharp drop in preschool obesity rates over the past decade. The good news, announced in February by researchers at the U.S. Centers for Disease Control and Prevention (CDC), received widespread media coverage and prompted first lady Michelle Obama to say she was "thrilled at the progress we've made over the last few years in obesity rates among our youngest Americans. The new study, published online in the medical journal JAMA Pediatrics, used the same data source as the CDC, but analyzed obesity rates over a different timeframe. It found increases in obesity for children age 2 to 19, and a marked rise in the percentage who were severely obese. Full Story | Top |
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