Today's Yahoo! News - Latest News & Headlines:
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End of the line for Cain? Announcement Saturday
Fri,2 Dec 2011 04:06 PM PST
AP -  Rapidly becoming a mere footnote in the presidential race, Herman Cain sent mixed signals Friday on whether he would abandon his beleaguered White House bid on Saturday after a woman's allegation of an extramarital affair.
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Unemployment rate drops to lowest since 2009
Fri,2 Dec 2011 03:54 PM PST
AP -  The unemployment rate, which has refused to budge from the 9 percent neighborhood for two and a half frustrating years, fell sharply in November, driven in part by small businesses that finally see reason to hope and hire.
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Iranian diplomats expelled from London arrive home
Fri,2 Dec 2011 05:17 PM PST
AP -  Iranian diplomats expelled from London in retaliation for attacks on British compounds in Tehran arrived home Saturday, the official IRNA news agency reported, sealing Iran's most serious diplomatic rift with the West in decades.
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Ultraconservative party to push for Islamic Egypt
Fri,2 Dec 2011 04:11 PM PST
AP -  Anticipating a strong presence in the new Egyptian parliament, ultraconservative Islamists outlined plans Friday for a strict brand of religious law, a move that could limit personal freedoms and steer a key U.S. ally toward an Islamic state.
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After uproar, Ky. church revisits interracial ban
Fri,2 Dec 2011 04:17 PM PST
AP -  When Stella Harville brought her black boyfriend to her family's all-white church in rural Kentucky, she thought nothing of it. She and Ticha Chikuni worshipped there whenever they were in town, and he even sang before the congregation during one service.
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Calif. residents grapple with windstorm cleanup
Fri,2 Dec 2011 06:33 PM PST
AP -  As the hurricane-force winds that pummeled the West eased Friday, Diane Johnson stood knee high in leaves and branches, surveying a fallen tree trunk at eye level and trying to decide just how to begin the big cleanup.
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Wall St. caps stellar week on drop in jobless rate
Fri,2 Dec 2011 04:23 PM PST
Reuters -  NEW YORK (Reuters) - Stocks ended flat on Friday but capped the best week for Wall Street bulls in almost three years after data showed the U.S. unemployment rate dropped to a 2-1/2 year low. The market gave back a 1 percent gain earlier in the session as traders booked profits after the S&P 500 failed to break through technical resistance near its 200-day moving average. The retreat also came on caution before key events in Europe next week, including a European Union summit aimed at solving the two-year old euro zone debt crisis. ...
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Exclusive: MF Global mixed funds, transferred abroad
Fri,2 Dec 2011 05:41 PM PST
Reuters -  WASHINGTON (Reuters) - Regulators investigating the collapse of MF Global have determined that the firm combined money between securities and futures accounts owned by customers, and transferred funds outside the country to at least one entity, a source said on Friday. "The further we get into (the investigation) the more complex it is ... but we're making progress," the source said, adding that the commingling and transferring of money is making it harder for regulators to determine what money belongs where. ...
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U.S. jobless rate drops to 2-1/2 year low
Fri,2 Dec 2011 02:46 PM PST
Reuters -  WASHINGTON (Reuters) - The U.S. unemployment rate tumbled to a 2-1/2 year low in November, even though the pace of hiring remained too slow to suggest a significant acceleration in the labor market recovery. Nonfarm payrolls increased by 120,000 jobs, the Labor Department said on Friday, and the jobless rate dropped to 8.6 percent, the lowest since March 2009, from 9 percent in October. It was the biggest monthly decline since January. ...
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Geithner to urge Europe leaders to take action
Fri,2 Dec 2011 03:24 PM PST
Reuters -  WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner is set to urge key European officials to take decisive action next week at a make-or-break summit to prevent a debt crisis from turning into runaway contagion. Treasury announced Geithner will meet French President Nicolas Sarkozy, new Italian Prime Minister Mario Monti, and Spanish Prime Minister-elect Mariano Rajoy on the December 6-8 trip, which will include stops in Frankfurt, Berlin, Paris, Marseille and Milan. ...
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Zynga seeks lower IPO value in tough market
Fri,2 Dec 2011 02:49 PM PST
Reuters -  (Reuters)- Zynga Inc is seeking a more modest valuation than Wall Street expected for its initial public offering, hoping to attract investors after a series of Internet stocks fell below their IPO price in recent weeks. The social games maker, known for Facebook games like "FarmVille" and "Mafia Wars," plans to sell 100 million new shares between $8.50 and $10 each, which will raise $925 million based on the midpoint of the range, according to a regulatory filing on Friday. The deal values Zynga at as much as $9.04 billion, about a third less than the $14. ...
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AMR creditors' committee may be an eclectic mix
Fri,2 Dec 2011 03:09 PM PST
Reuters -  (Reuters) - Labor unions, suppliers and other groups with potential claims against bankrupt AMR Corp will gather on Monday to vie for a seat on what could be an eclectic committee of creditors. The office of the U.S. Trustee, which oversees bankruptcy cases, is expected to appoint the committee at a meeting on Monday at the Sheraton Hotel in Manhattan. Creditors' committees, common in most corporate bankruptcies, advocate for the collective rights of unsecured creditors - those whose claims are not secured by collateral. ...
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Olympus won't get extension on reporting deadline: sources
Fri,2 Dec 2011 07:36 PM PST
Reuters -  TOKYO (Reuters) - Japanese regulators will not extend a deadline for Olympus to report its financial results, sources with knowledge of the matter said, leaving the scandal-hit company with less than two weeks to correct two decades of accounting and avoid delisting. Olympus and its auditors are scrambling to correct past earnings statements and submit its latest results after the company admitted to a cover-up of securities losses dating back to the 1990's. If they cannot meet the December 14 deadline Olympus will automatically be delisted under stock exchange rules. ...
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Over 20 arrested at U.S. London embassy protest
Fri,2 Dec 2011 02:20 PM PST
Reuters - LONDON (Reuters) - Police said they had made more than 20 arrests at a demonstration outside the U.S. embassy in London on Friday. Twenty people had been held on suspicion of being members of a banned group while another two were detained for obstruction and violent disorder. A Metropolitan Police spokesman declined to confirm a report that the protesters were members of Muslims Against Crusades (MAC), a fringe Islamist group. ... Full Story | Top |
Fed hawks say central banks can't solve fiscal woes
Fri,2 Dec 2011 01:46 PM PST
Reuters -  DALLAS/PHILADELPHIA (Reuters) - The U.S. Federal Reserve and other central banks must not succumb to calls for additional help from monetary authorities in the face of high budget deficits, two top Fed officials said on Friday. Using the Fed as a printing press to solve the U.S. deficit problem would unleash the "sinister beast" of inflation and "is not an option," Dallas Fed President Richard Fisher told the Dallas/Fort Worth Minority Supplier Development Council. "Our nation has a crying need for public leadership to correct what's wrong in the economy," Fisher said. ...
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After NATO strike, Pakistan adjusts rules of engagement
Fri,2 Dec 2011 05:03 PM PST
Reuters -  ISLAMABAD (Reuters) - Pakistan's commanders in the wild Afghan border region can return fire if under attack without waiting for permission, the army chief said on Friday, a policy change that could stoke tensions after Saturday's NATO strike killed 24 Pakistani troops. Exactly what happened in the attack is unclear. Two U.S. officials told Reuters early indications were that Pakistani officials had cleared the NATO air strike, unaware they had troops in the area. A Pakistani official denied this. The attack sparked fury in Pakistan and further complicated U.S. ...
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Rights body condemns Syria; Shell pulls out
Fri,2 Dec 2011 02:21 PM PST
Reuters -  BEIRUT/GENEVA (Reuters) - The main U.N. human rights forum condemned Syria's crackdown on protests on Friday and Royal Dutch Shell shut down oil work there because of EU sanctions, signs of the deepening isolation of President Bashar al-Assad. The 47-member rights forum overwhelmingly voted to adopt a resolution put forward by the European Union, condemning "gross and systematic" rights violations. Russia and China, which have so far protected Assad by vetoing measures at the U.N. Security Council, were among the four countries to vote against it. ...
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Obama promises big push on payroll tax cut
Fri,2 Dec 2011 04:18 PM PST
Reuters -  WASHINGTON (Reuters) - President Barack Obama on Friday pledged an aggressive push to pass an extension to the payroll tax cut for U.S. workers, saying lawmakers must not leave for their holiday break without taking action on it. "We need to get this done. And I expect that it's going to get done before Congress leaves. Otherwise, Congress may not be leaving and we can all spend Christmas here together." Speaking after fresh data showed the U.S. unemployment rate fell to a 2-1/2-year low of 8.6 percent, Obama said it was not the time to "slam the brakes" on the U.S. economy recovery. ...
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After NATO strike, Pakistan adjusts rules of engagement
Fri,2 Dec 2011 02:20 PM PST
Reuters -  ISLAMABAD (Reuters) - Pakistan's commanders in the wild Afghan border region can return fire if under attack without waiting for permission, the army chief said on Friday, a policy change that could stoke tensions after Saturday's NATO strike killed 24 Pakistani troops. Exactly what happened in the attack is unclear. Two U.S. officials told Reuters early indications were that Pakistani officials had cleared the NATO air strike, unaware they had troops in the area. A Pakistani official denied this. The attack sparked fury in Pakistan and further complicated U.S. ...
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Wall St. caps stellar week on drop in jobless rate
Fri,2 Dec 2011 03:10 PM PST
Reuters -  NEW YORK (Reuters) - Stocks ended flat on Friday but capped the best week for Wall Street bulls in almost three years after data showed the U.S. unemployment rate dropped to a 2-1/2 year low. The market gave back a 1 percent gain earlier in the session as traders booked profits after the S&P 500 failed to break through technical resistance near its 200-day moving average. The retreat also came on caution before key events in Europe next week, including a European Union summit aimed at solving the two-year old euro zone debt crisis. ...
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Obama promises big push on payroll tax cut
Fri,2 Dec 2011 11:01 AM PST
Reuters -  WASHINGTON (Reuters) - President Barack Obama on Friday pledged an aggressive push to pass an extension to the payroll tax cut for U.S. workers, saying lawmakers must not leave for their holiday break without taking action on it. "We need to get this done. And I expect that it's going to get done before Congress leaves. Otherwise, Congress may not be leaving and we can all spend Christmas here together." Speaking after fresh data showed the U.S. unemployment rate fell to a 2-1/2-year low of 8.6 percent, Obama said it was not the time to "slam the brakes" on the U.S. economy recovery. ...
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