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| Ukraine's restive east slipping from government's grasp Wednesday, Apr 30, 2014 02:13 PM PDT  By Marko Djurica HORLIVKA, Ukraine (Reuters) - Pro-Moscow separatists seized government offices in more Ukrainian towns on Wednesday, in a further sign that authorities in Kiev are losing control of the country's eastern industrial heartland bordering Russia. Gunmen who turned up at dawn took control of official buildings in Horlivka, a town of almost 300,000 people, said a Reuters photographer. The heavily armed men wore the same military uniforms without insignia as other unidentified "green men" who have joined pro-Russian protesters with clubs and chains in seizing control of towns across Ukraine's Donbass coal and steel belt. Some 30 pro-Russian separatists also seized a city council building in Alchevsk, further east in Luhansk region, Interfax-Ukraine news agency said. Full Story | Top |
| NBA sets wheels turning for Clippers sale; Oprah in wings Wednesday, Apr 30, 2014 05:48 PM PDT  By Steve Gorman LOS ANGELES (Reuters) - Several luminaries from sports and show business, Oprah Winfrey among them, signaled interest on Wednesday in buying the Los Angeles Clippers as the NBA set a first meeting to weigh removing Donald Sterling as owner over racist remarks attributed to him. A day after Sterling was banned for life from the National Basketball Association, two of the league's 29 other team owners, including the governing board's chairman, said they expected to reach the three-fourths majority vote needed to expel Sterling fully, a move unprecedented in NBA history. The advisory finance committee of the board scheduled a meeting on Thursday to review the next steps for forcing a sale of the Clippers, as urged on Tuesday by NBA Commissioner Adam Silver, a league spokeswoman said. Full Story | Top |
| U.S. Gulf Coast hit by flooding after 24 hours non-stop rain Wednesday, Apr 30, 2014 03:25 PM PDT  By Bill Cotterell TALLAHASSEE, Florida (Reuters) - The worst floods in decades deluged roads and engulfed homes and cars in Florida's Panhandle and coastal Alabama on Wednesday, the latest mayhem created by a tornado-packing storm system that has killed at least 34 people this week. Florida Governor Rick Scott declared a state of emergency for 26 counties inundated by as much as two feet of relentless rain over a 24-hour period, as severe thunderstorms raced across the northern part of the state. Emergency workers evacuated about 200 people in the Panhandle, Scott told reporters at an emergency operations center south of Tallahassee. "No-one anticipated it would just keep on raining and raining and raining ... We thought it was going to move on out." Ashton Hayward, the mayor of Pensacola, Florida, said some downtown areas of the Gulf Coast city, were up to four feet under water. Full Story | Top |
| CSX oil train derails in Virginia, leaks into river Wednesday, Apr 30, 2014 05:22 PM PDT  By Selam Gebrekidan NEW YORK (Reuters) - A CSX Corp train carrying crude oil derailed and burst into flames in downtown Lynchburg, Virginia, on Wednesday, spilling oil into the James River and forcing hundreds to evacuate. In its second oil-train accident this year, CSX said 15 cars of a train traveling from Chicago to Virginia derailed at 2:30 p.m. EDT. Fire that erupted on three of the cars was extinguished several hours later, the company said. ... Full Story | Top |
| London cleric wanted jihadists to train in Oregon, U.S. jury told Wednesday, Apr 30, 2014 03:59 PM PDT  By Joseph Ax NEW YORK (Reuters) - James Ujaama thought he had found the perfect place to set up a jihadist training camp: a quiet ranch situated in a rural section of Oregon. "The land that we spoke of is about 160 acres and looks just like Afghanistan," Ujaama wrote in a fax in 1999 to his mentor, imam Abu Hamza al-Masri of the Finsbury Park mosque in London. He added that Oregon was a "pro-militia and fire-arms state" where it would be easy to stockpile weapons for combat training. Ujaama testified on Wednesday at Abu Hamza's trial in New York that a few weeks after that fax, two men arrived from the United Kingdom, saying they were sent by Abu Hamza to instruct recruits at the camp. Full Story | Top |
| Senate Republicans block Obama bid to hike minimum wage Wednesday, Apr 30, 2014 01:38 PM PDT  By Thomas Ferraro WASHINGTON (Reuters) - President Barack Obama blasted Senate Republicans on Wednesday just hours after they blocked one of his top legislative priorities, a bid to increase the federal minimum wage for the first time since 2009. "They (Republicans) prevented a raise for 28 million hard-working Americans. They said no to helping millions work their way out of poverty," Obama said at the White House, backed up by low-wage workers. On a nearly party-line vote of 54-42, Obama's Democrats fell short of the needed 60 Senate votes to end a procedural roadblock against a White House-backed bill. Full Story | Top |
| U.S. economy stalls in first-quarter, but fundamentals still sound Wednesday, Apr 30, 2014 12:54 PM PDT  By Lucia Mutikani WASHINGTON (Reuters) - The U.S. economy barely grew in the first quarter as the severe winter hampered exports and led businesses to curtail investment spending, but activity already appears to be bouncing back. Gross domestic product expanded at a 0.1 percent annual rate, the slowest since the fourth quarter of 2012, the Commerce Department said on Wednesday. Full Story | Top |
| Exelon to become top U.S. power distributor with Pepco buy Wednesday, Apr 30, 2014 04:07 PM PDT  Exelon Corp said it would buy Pepco Holdings Inc for $6.83 billion, helping it overtake Duke Energy Corp as the biggest power distribution company in the United States. The deal will allow Exelon to sell more power at stable rates set by regulators at a time when an abundance of cheap natural gas is dragging down power prices in the open market. Exelon's move to reduce its exposure to the vagaries of the wholesale power market comes as U.S. utilities struggle with falling electricity demand in both the open and regulated markets due to increased energy efficiency and a weak economy. Full Story | Top |
| Fed shows faith in U.S. economy with bond-buying reduction Wednesday, Apr 30, 2014 01:41 PM PDT  By Howard Schneider and Michael Flaherty WASHINGTON (Reuters) - The Federal Reserve on Wednesday looked past a dismal reading on first quarter U.S. growth and gave a mostly upbeat assessment of the economy's prospects as it announced another cut in its massive bond-buying stimulus. "Household spending appears to be rising more quickly," it added, although it said business investment "edged down." The Fed said it would reduce its monthly bond purchases to $45 billion from $55 billion, a widely expected decision that keeps it on track to end the program as soon as October. Just hours before the statement was released, the government reported that the economy grew at only a 0.1 percent annual rate in the first quarter, but the Fed pinned its hopes on other recent data that has suggested activity is bouncing back. "What the Fed is saying is ignore this first quarter number, it's not reflective of the underlying strength in the economy," said Phil Orlando, chief equity market strategist at Federated Investors in New York. Full Story | Top |
| Former NSA contractor Snowden expects to remain in Russia Wednesday, Apr 30, 2014 02:03 PM PDT  Former National Security Agency contractor Edward Snowden, who fled to Moscow last year after revealing details of massive U.S. intelligence-gathering programs, expects his asylum status in Russia to be renewed before it expires this summer, his lawyer said on Wednesday. Snowden and documentary filmmaker Laura Poitras, who worked with Snowden to reveal NSA documents he took from his job, were given the Ridenhour Prize for Truth-Telling, an award to promote transparency and whistle-blowing, at a ceremony in Washington on Wednesday. Snowden appeared on a video link-up from Russia and Poitras appeared from Berlin. Jesselyn Radack, an attorney for Snowden, said his temporary asylum in Russia will expire at the end of June but that "prospects are good" for it to be renewed. Full Story | Top |
| NBA sets wheels turning for Clippers sale; Oprah in wings Wednesday, Apr 30, 2014 04:01 PM PDT By Larry Fine NEW YORK (Reuters) - The NBA set in motion on Wednesday an attempt to force a sale of the Los Angeles Clippers, with Oprah Winfrey signaling interest as a potential buyer, after club owner Donald Sterling was banned for life from pro basketball for racist comments attributed to him. At least two of the National Basketball Association's 29 other team owners, including the governing board's interim chairman, said they expect the necessary three-fourths majority of owners to back Sterling's full expulsion, a move unprecedented in NBA history. The advisory finance committee of the board scheduled a meeting on Thursday to review the next steps for removing Sterling as owner of the Clippers, as urged on Tuesday by NBA Commissioner Adam Silver, a league spokeswoman said. Full Story | Top |
| CSX train carrying oil derails in Virginia in fiery blast Wednesday, Apr 30, 2014 03:19 PM PDT  By Selam Gebrekidan NEW YORK (Reuters) - A CSX Corp train carrying crude oil derailed and burst into flames in downtown Lynchburg, Virginia on Wednesday, spilling oil into the James River and forcing hundreds to evacuate. CSX said 15 cars on a train traveling from Chicago to Virginia derailed at 2:30 p.m. EDT. The fiery derailment a short distance from office buildings in the city of 77,000 was sure to bring more calls from environmentalists and activists for stricter regulations of the burgeoning business of shipping crude oil by rail. JoAnn Martin, the city's director of communications, said three or four tank cars were leaking, and burning oil was spilling into the river, which runs to Chesapeake Bay. Full Story | Top |
| Iraqis vote as violence grips a divided country Wednesday, Apr 30, 2014 02:10 PM PDT By Ned Parker and Ahmed Rasheed BAGHDAD (Reuters) - Iraq held a democratic vote to choose a leader with no foreign troops present for the first time on Wednesday, as Shi'ite Prime Minister Nuri al-Maliki sought to hold power for a third term in a country again consumed by sectarian bloodshed. Since the last American soldiers pulled out in 2011, eight years after toppling dictator Saddam Hussein, Iraq has descended back into extreme violence, with hundreds of civilians killed each month by al Qaeda-inspired Sunni insurgents, and with Shi'ite militia once more taking fearsome revenge. Voters chose from nearly 10,000 candidates for 328 seats in parliament, from political parties that range from zealous Islamists to liberals and communists. The commission hopes to declare final results by the end of May. Non-Shi'ite parties complained of obstacles to voting in the outer suburbs of Baghdad and saw in it a deliberate effort by Maliki to keep their numbers down in the next parliament. Full Story | Top |
| Oprah Winfrey in talks with Geffen, Ellison for possible Clippers bid Wednesday, Apr 30, 2014 12:16 PM PDT  LOS ANGELES (Reuters) - Talk show host turned entertainment mogul Oprah Winfrey is in talks with billionaire media executive David Geffen and Oracle Corp CEO Larry Ellison to make a bid to buy the Los Angeles Clippers should the team become available, her spokeswoman said On Wednesday. The statement from Winfrey came a day after the National Basketball Association imposed a lifetime ban against Clippers owner Donald Sterling for racist remarks attributed to him and moved to force him to sell his team. (Reporting by Eric Kelsey; Writing by Steve Gorman; Editing by Cynthia Johnston) Full Story | Top |
| CEO Barra leans on small circle of GM veterans Wednesday, Apr 30, 2014 01:37 PM PDT  By Ben Klayman DETROIT (Reuters) - In the midst of General Motors Co's biggest crisis since bankruptcy, new Chief Executive Mary Barra is turning to an inner circle dominated by company "lifers," believing the team is up to handling a massive recall and reinvigorating the company without much outside help, former and current GM executives say. Barra's every move is being dissected in the wake of the recall of 2.6 million cars for an ignition switch defect linked to at least 13 deaths. Barra's inner circle includes one relative newcomer, and GM has hired three outside consultants for help with the switch crisis, but most of her core team, like Barra, are long-time GM veterans. Products chief Mark Reuss may be her closest ally, even though the two vied to become CEO, according to a consensus of eight current and former executives, who asked not to be identified. Full Story | Top |
| Exclusive: Curbing tax-driven business moves abroad a priority - Treasury Wednesday, Apr 30, 2014 09:52 AM PDT  The Obama administration is focused on finding ways to curb tax-motivated reincorporations to other countries by U.S. businesses, a U.S. Treasury official told Reuters on Wednesday. "Cracking down on companies that reincorporate overseas to reduce their U.S. taxes is a priority for the administration," a Treasury official said in an emailed statement. U.S. drugmaker Pfizer Inc said on Monday it has made takeover bids for UK rival AstraZeneca Plc in a possible deal to merge the two into a UK holding company with a UK tax domicile. Such deals, known as "inversion" transactions have been growing in popularity, and President Barack Obama's 2015 budget included a proposal to crack down on inversions. Full Story | Top |
| U.S. government says it lost $11.2 billion on GM bailout Wednesday, Apr 30, 2014 02:41 PM PDT  By Eric Beech WASHINGTON (Reuters) - The U.S. government lost $11.2 billion on its bailout of General Motors Co , more than the $10.3 billion the Treasury Department estimated when it sold its remaining GM shares in December, according to a government report released on Wednesday. The $11.2 billion loss includes a write-off in March of the government's remaining $826 million investment in "old" GM, the quarterly report by a Treasury watchdog said. The U.S. government spent about $50 billion to bail out GM. Treasury whittled down its GM stake through a series of stock sales starting in November 2010, with the remaining shares sold on December 9, 2013. Full Story | Top |
| Thai PM, Election Commission agree new vote in July, opposition defiant Wednesday, Apr 30, 2014 06:37 AM PDT  By Amy Sawitta Lefevre BANGKOK (Reuters) - Thailand's Election Commission and the prime minister agreed on Wednesday to hold a general election in July, but anti-government protesters who disrupted a vote in February said they still wanted to see electoral reforms before a new poll. The protesters have been trying to oust Prime Minister Yingluck Shinawatra since November, part of a long-running crisis that broadly pits Bangkok's middle class and royalist establishment against the mainly poor, rural supporters of Yingluck and her brother, former premier Thaksin Shinawatra. "The prime minister and the Election Commission agree on a July 20 election," Puchong Nutrawong, secretary-general of the commission, told reporters after a meeting with Yingluck. He said the commission would ask the government to issue a royal decree and get the king's endorsement for the vote. Full Story | Top |
| Toppled 'mafia' president cost Ukraine up to $100 billion, prosecutor says Wednesday, Apr 30, 2014 06:51 AM PDT  By Guy Faulconbridge, Anna Dabrowska and Stephen Grey LONDON (Reuters) - Ukraine's chief prosecutor has accused Viktor Yanukovich of heading a mafia-style syndicate whose crimes cost the former Soviet republic up to $100 billion and said some of the stolen money was now being used to fund Russian-backed separatists. Ex-President Yanukovich fled to Russia in late February after a revolt that prompted Vladimir Putin to annex Ukraine's Crimea province, triggering the biggest confrontation between the Kremlin and the West since the end of the Cold War in 1991. Acting Prosecutor General Oleh Makhnitsky said that while president from 2010, Yanukovich personally ran a multi-billion dollar criminal syndicate whose tentacles reached almost all walks of the Ukrainian state and Ukrainian life. "Ex-President Viktor Yanukovich headed a mafia structure in Ukraine which spread across different state structures," Makhnitsky told Reuters in London on Tuesday after meeting U.S. and British officials about ways to recover stolen assets. Full Story | Top |
| Korea ferry disaster exposes cozy industry ties, soft penalties Tuesday, Apr 29, 2014 11:56 PM PDT  By Jack Kim and Ju-min Park SEOUL (Reuters) - A culture of cozy personal ties that can blur the lines between businesses and those regulating them, of profit over safety, and soft courts is in focus as South Korea demands answers over the sinking of a ferry with the loss of more than 300 lives, mainly high school students. Prosecutors are investigating two shipping trade organizations responsible for vessel safety checks and for certifying ships that operate in domestic waters. Two officials at the Korea Shipping Association (KSA) have been arrested on charges of obstructing justice for destroying documents related to a probe into lobbying government officials. Prosecutors are also investigating Korean Register (KR), which tests and certifies ships. Full Story | Top |
| Masked gunmen tighten grip on eastern Ukraine Wednesday, Apr 30, 2014 04:39 AM PDT  By Marko Djurica HORLIVKA, Ukraine (Reuters) - Masked gunmen in military fatigues took control of a government building in another Ukrainian town on Wednesday, as pro-Russian separatists tightened their grip on a swathe of the country's industrial east largely unopposed by police. The heavily armed men wore the same military uniforms without insignia as other so-called "green men" who have joined pro-Russian protesters with clubs and chains in seizing control of a string of towns across Ukraine's Donbass coal and steel belt abutting the border with Russia. A police official in nearby Donetsk, the provincial capital where separatists have declared a "People's Republic of Donetsk", said separatists were also in control of the Horlivka police division, having seized the regional police HQ earlier in April. Wednesday's takeover followed the fall of government buildings on Tuesday further east in Luhansk, capital of Ukraine's easternmost province, driving home just how far control over the densely populated region has slipped from the pro-Western central government in Kiev. Full Story | Top |
| Ukraine separatists seize second provincial capital, fire on police Wednesday, Apr 30, 2014 02:52 AM PDT  By Vasily Fedosenko LUHANSK, Ukraine (Reuters) - Hundreds of pro-Moscow separatists stormed government buildings in one of Ukraine's provincial capitals on Tuesday and fired on police holed up in a regional headquarters, a major escalation of their revolt despite new Western sanctions on Russia. Nevertheless, Russian President Vladimir Putin responded by threatening to reconsider Western participation in energy deals in Russia, the world's biggest oil producer, where most major U.S. and European oil companies have extensive projects. Demonstrators smashed their way into the provincial government headquarters in Luhansk, Ukraine's easternmost province, which abuts the Russian border, and raised separatist flags over the building, while police did nothing to interfere. "The regional leadership does not control its police force," said Stanislav Rechynsky, an aide to Interior Minister Arsen Avakov, referring to events in Luhansk. Full Story | Top |
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