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| Floods across New York as Sandy slams into eastern U.S Monday, Oct 29, 2012 07:59 PM PDT  NEW YORK/REHOBOTH BEACH, Delaware (Reuters) - Sandy, one of the biggest storms ever to hit the United States, roared ashore with fierce winds and heavy rain on Monday near the gambling resort of Atlantic City, forcing evacuations, shutting down transportation and interrupting the presidential campaign. Early reports said there was widespread flooding through New York City, in some cases well inland. Police confirmed at least two people were killed by the storm in the city, and deaths were reported as far away as Toronto as well. ... Full Story | Top |
| ConEd cuts power to part of Lower Manhattan due to Sandy Monday, Oct 29, 2012 07:28 PM PDT NEW YORK (Reuters) - New York power company Consolidated Edison Inc ED.N said on Monday that it had shut off power to part of Lower Manhattan to protect electrical equipment and to allow for quicker restoration after Hurricane Sandy passes. The company said in a release it cut service to two areas. The first is bounded by Frankfort Street to the north; William Street to the west; Wall Street to the south; and the East River. The second area is bounded by Broadway to the west; Wall Street to the north; and the southern tip of Manhattan. ... Full Story | Top |
| Sandy complicates final stretch of tense U.S. presidential race Monday, Oct 29, 2012 09:05 PM PDT  WASHINGTON (Reuters) - A tense and unpredictable race for the White House became even more so on Monday, as mammoth storm Sandy created delicate political challenges for President Barack Obama and Republican rival Mitt Romney and raised the possibility of a chaotic voting process. As the deadly storm barreled ashore on the paralyzed East Coast, the presidential campaign went into what amounted to a deep freeze just when Obama and Romney had planned to launch their final push for votes in the November 6 election. ... Full Story | Top |
| Obama, Romney curtail campaign events in face of hurricane Monday, Oct 29, 2012 04:09 PM PDT  WASHINGTON/DAVENPORT, Iowa (Reuters) - President Barack Obama suspended campaigning and returned to Washington on Monday to oversee the response to Hurricane Sandy, while his Republican rival Mitt Romney curtailed political events to show respect for the storm's potential victims. As the storm cuts into the final week of campaigning in an especially close race for the White House, both men are trying to avoid coming across as overtly political while millions of people are imperiled by Sandy's fierce winds and driving rain. ... Full Story | Top |
| Economy may skirt direct hit from Hurricane Sandy Monday, Oct 29, 2012 06:24 PM PDT  WASHINGTON/NEW YORK (Reuters) - Hurricane Sandy is shaping up to be one of the biggest storms ever to hit the United States but even with the severe damage that is expected, the blow to the economy is seen as short-term. Economists say some of the impact caused by businesses closing will be offset by reconstruction efforts, and point to catastrophic storms like Katrina, which devastated New Orleans but did not deal lasting damage to the national economy. ... Full Story | Top |
| Japan seeks exemption on U.S. sanctions on Iran: Nikkei Monday, Oct 29, 2012 07:47 PM PDT  TOKYO (Reuters) - Japan is seeking an exemption from proposed new U.S. sanctions against Iran that could effectively freeze Tehran's use of payments for oil, the Nikkei business daily reported on Tuesday, citing sources. Japanese Finance Minister Koriki Jojima asked U.S. Treasury Secretary Timothy Geithner at an October 11 meeting in Tokyo for Washington to exempt Japanese banks, the report said, citing unidentified sources familiar with the matter. Geithner said the matter was being considered, the report said. Japanese government officials were not immediately available for comment. ... Full Story | Top |
| China October official PMI set to confirm recovery trend Monday, Oct 29, 2012 08:05 PM PDT  BEIJING (Reuters) - China's factory activity likely accelerated in October to its fastest pace in five months, according to a new Reuters poll that reveals a growing certainty of recovery taking hold in the world's second-biggest economy. The poll of 14 economic analysts forecasts that China's official purchasing managers index (PMI) rebounded to 50.3 in October from 49.8 in September, a reading that suggests factory output is accelerating again after two months of slowing growth. ... Full Story | Top |
| Exclusive: JDA Software on the block - sources Monday, Oct 29, 2012 07:40 PM PDT (Reuters) - Enterprise technology maker JDA Software Group Inc is exploring a sale and has hired JPMorgan Chase & Co to advise on the process, people familiar with the matter said. The sale process is at an advanced stage. The company has received interest from multiple parties, including private equity firms and strategic buyers, the sources said. JDA Software, which has a market capitalization of $1.5 billion, provides customized software applications to customers ranging from government and aerospace defense contractors to hospitality and media organizations. ... Full Story | Top |
| As election, Sandy draw near, pressure mounts on disaster chief Monday, Oct 29, 2012 02:01 PM PDT  WASHINGTON (Reuters) - As Hurricane Sandy bears down on the U.S. East Coast little more than a week before the presidential election, President Barack Obama's fortunes may in part depend on how well a former volunteer firefighter from Florida does his job. Craig Fugate, a former paramedic and firefighter who rose to become Florida's top emergency management official, heads the Federal Emergency Management Agency and is the man Obama is counting on to bring relief quickly to millions of people expected to be hit by monster storm Sandy. ... Full Story | Top |
| Apple software, retail chiefs out in overhaul Monday, Oct 29, 2012 05:45 PM PDT  SAN FRANCISCO (Reuters) - Apple Inc CEO Tim Cook on Monday replaced the heads of its software and retail units in the company's biggest executive shake-up in a decade following embarrassing problems with its new mapping program and unpopular store-related decisions. Software chief Scott Forstall, who oversaw the launch of the flawed mapping software and much criticized Siri voice-enabled assistant, will leave Apple next year. Forstall, seen as a polarizing figure inside Apple, had been billed as one of the future candidates to take the top job at Apple. ... Full Story | Top |
| UBS set to exit fixed income, fire 10,000 bankers Monday, Oct 29, 2012 06:29 PM PDT  ZURICH (Reuters) - UBS is expected to reveal plans on Tuesday to wind down its fixed income business and fire 10,000 bankers, with shareholders cheering one of the biggest bonfires of finance jobs since the implosion of Lehman Brothers in 2008. The move will focus Zurich-based UBS around its private bank and a smaller investment bank, ditching much of the trading business that saw it lose $50 billion in the financial crisis and one rogue trader lose $2.3 billion last year. ... Full Story | Top |
| Crew rescued from HMS Bounty as hurricane rages; captain missing Monday, Oct 29, 2012 05:11 PM PDT  (Reuters) - The U.S. Coast Guard rescued 14 of the 16 crew members who abandoned the replica tall ship HMS Bounty off North Carolina in rough seas caused by Hurricane Sandy, using helicopters on Monday to pluck them from life rafts. A Coast Guard MH-60 Jayhawk rescue helicopter later recovered crew member Claudene Christian, 42, who was described as unresponsive, while continuing to search for the 63-year-old captain of the ship, which sank in 18-foot seas. Christian taken to Albemarle Hospital in Elizabeth City, North Carolina, where a hospital spokesman said she was in "critical condition. ... Full Story | Top |
| Meningitis outbreak spreads to 19 states with case in Rhode Island Monday, Oct 29, 2012 06:04 PM PDT  (Reuters) - The deadly meningitis outbreak tied to steroid injections from potentially tainted medications spread to a 19th state on Monday with the first case reported in Rhode Island, the Centers for Disease Control and Prevention said. Only four of the 23 states that received some of the medication have not reported cases of fungal meningitis, which has killed 25 people nationwide. The four states that have not reported at least one case of meningitis are California, Nevada, West Virginia and Connecticut, the CDC said. ... Full Story | Top |
| Google unveils first 10-inch Nexus tablet Monday, Oct 29, 2012 11:05 AM PDT  SAN FRANCISCO (Reuters) - Google Inc unveiled a larger version of its Nexus-branded tablet computer on Monday, and updated its mobile gadget and online content offerings as competition with Apple Inc, Amazon.com Inc and Microsoft Corp heats up ahead of the holiday sales season. The device follows a spate of new product launches by the technology leaders in recent weeks, including Apple's iPad Mini last week and software-maker Microsoft's first-ever home-built tablet, the Surface. Google, the world's No. ... Full Story | Top |
| Air strikes, car bombs wreck last day of Syria "truce" Monday, Oct 29, 2012 10:50 AM PDT  BEIRUT/AMMAN (Reuters) - Syrian jets bombed parts of Damascus on Monday in what residents said were the capital's fiercest air raids yet, at the end of what was supposed to be a four-day truce. "More than 100 buildings have been destroyed, some leveled to the ground," said opposition activist Moaz al-Shami. "Whole neighbourhoods are deserted." Each side in the 19-month-old conflict between President Bashar al-Assad and rebels blamed the other for breaking the truce proposed by peace envoy Lakhdar Brahimi to mark a Muslim holiday. Two car bombs rocked the capital on Monday, state media ... Full Story | Top |
| Economy may skirt direct hit from Hurricane Sandy Monday, Oct 29, 2012 04:00 PM PDT WASHINGTON/NEW YORK (Reuters) - Hurricane Sandy is shaping up to be one of the biggest storms ever to hit the United States but even with the severe damage that is expected, the blow to the economy is seen as short-term. Economists say some of the impact caused by businesses closing will be offset by reconstruction efforts, and point to catastrophic storms like Katrina, which devastated New Orleans but did not deal lasting damage to the national economy. ... Full Story | Top |
| Storm Sandy makes landfall on New Jersey coast: U.S. National Hurricane Center Monday, Oct 29, 2012 05:13 PM PDT (Reuters) - Massive storm Sandy made landfall on Monday along the coast of southern New Jersey, the U.S. National Hurricane Center said. Sandy was located about 5 miles southwest of Atlantic City, New Jersey, and had maximum sustained winds of 80 mph. (Reporting by Kevin Gray) Full Story | Top |
| Meningitis outbreak spreads to 19 states with case in Rhode Island Monday, Oct 29, 2012 12:18 PM PDT  (Reuters) - The deadly meningitis outbreak tied to steroid injections from potentially tainted medications spread to a 19th state on Monday with the first case reported in Rhode Island, the Centers for Disease Control and Prevention said. Only four of the 23 states that received some of the medication have not reported cases of fungal meningitis, which has killed 25 people nationwide. The four states that have not reported at least one case of meningitis are California, Nevada, West Virginia and Connecticut, the CDC said. ... Full Story | Top |
| Apple software, retail chiefs out in sweeping overhaul Monday, Oct 29, 2012 03:36 PM PDT SAN FRANCISCO (Reuters) - Apple Inc Chief Executive Tim Cook on Monday replaced the heads of its software and retail units in the company's most sweeping executive shake-up in a decade following embarrassing problems with its new mapping program and unpopular store-related decisions. Software chief Scott Forstall, who oversaw the launch of the flawed mapping software and much criticized Siri voice-enabled assistant, will leave Apple next year and serve as an advisor to Cook in the meantime. ... Full Story | Top |
| Hurricane Sandy on verge of New Jersey landfall Monday, Oct 29, 2012 02:36 PM PDT NEW YORK/REHOBOTH BEACH, Delaware (Reuters) - Hurricane Sandy, one of the biggest storms ever to hit the United States, lashed the densely populated East Coast on Monday, shutting down transportation, forcing evacuations in flood-prone areas and interrupting the presidential campaign. Fierce winds and flooding racked hundreds of miles of Atlantic coastline and heavy snows were forecast farther inland at higher elevations as the center of the storm moves ashore along the coast of southern New Jersey or Delaware on Monday evening. U.S. ... Full Story | Top |
| Storm Sandy about to make landfall on New Jersey coast: U.S. National Hurricane Center Monday, Oct 29, 2012 04:43 PM PDT (Reuters) - Massive storm Sandy is on the verge of making landfall along the south New Jersey coast, the U.S. National Hurricane Center said on Monday. Sandy, a huge storm system, is now considered a "post-tropical cyclone," meaning it still has hurricane-force winds but lost the characteristics of a tropical storm. (Reporting by Kevin Gray; editing Christopher Wilson) Full Story | Top |
| Crew rescued from HMS Bounty in path of hurricane; captain missing Monday, Oct 29, 2012 04:07 PM PDT  (Reuters) - The U.S. Coast Guard rescued 14 of the 16 crew members who abandoned the replica tall ship HMS Bounty off North Carolina in rough seas caused by Hurricane Sandy, using helicopters on Monday to pluck them from life rafts, the Coast Guard said. The crew of a Coast Guard MH-60 Jayhawk rescue helicopter later recovered the body of an "unresponsive" woman, identified as Claudene Christian, 42, while continuing to search for the 63-year-old captain of the ship, which sank in 18-foot seas. ... Full Story | Top |
| Barclays Libor case to go to trial Monday, Oct 29, 2012 11:26 AM PDT  LONDON (Reuters) - Barclays became the first bank to be ordered to stand trial in a British court over damages stemming from manipulation of the Libor interest rate after a High Court ruling on Monday. Guardian Care Homes, a residential care home operator based in Wolverhampton, is suing Barclays for up to 37 million pounds ($59 million) over the alleged mis-selling of interest rate hedging products known as swaps. ... Full Story | Top |
| Sandy heads toward Cape May, New Jersey: National Hurricane Center Monday, Oct 29, 2012 03:03 PM PDT  (Reuters) - Hurricane Sandy is moving toward Cape May, New Jersey, the U.S. National Hurricane Center said on Monday. The center of the storm was 55 miles east-southeast of Cape May, New Jersey, and its center was expected to reach the coast of southern New Jersey within the next three to five hours, the center said in an advisory at 4 P.M. EDT (200 GMT) (Reporting by Kevin Gray) Full Story | Top |
| Consumer spending picks up, but savings a worry Monday, Oct 29, 2012 08:27 AM PDT  WASHINGTON (Reuters) - Consumer spending rose solidly in September, putting the economy on a firmer footing heading into the fourth quarter even though households had to pull back on saving to fund purchases. The Commerce Department said on Monday that consumer spending rose 0.8 percent, the largest increase since February, after an unrevised 0.5 percent gain in August. Spending accounts for about 70 percent of U.S. economic activity and last month's increase offered a strong hand off from the July-September period to the current quarter. ... Full Story | Top |
| Random House and Penguin merge to take on Amazon, Apple Monday, Oct 29, 2012 02:33 PM PDT  LONDON (Reuters) - Britain's Pearson and Germany's Bertelsmann plan to merge their publishers Penguin and Random House, aiming to gain the upper hand in their relationship with Amazon and Apple, the leaders in the ebook revolution. Education and media publisher Pearson said on Monday the joint venture - which will bring under one roof fantasy novelist Terry Pratchett, "Fifty Shades of Grey" author EL James and 2012 Nobel prize winner Mo Yan - would be named Penguin Random House. ... Full Story | Top |
| Obama urges resolve, patience in face of hurricane Monday, Oct 29, 2012 11:56 AM PDT  WASHINGTON (Reuters) - President Barack Obama on Monday urged East Coast residents in the path of Hurricane Sandy to heed evacuation orders and assured them the government was ready to respond swiftly, but he warned them it would take a long time to clean up in the storm's aftermath. Scrapping campaign plans to return to Washington, Obama sought to show voters just eight days before the November 6 election that he was giving top priority to his presidential duties in a looming national crisis, rather than his bid for re-election in a tight race. ... Full Story | Top |
| Hurricane Sandy to make landfall early Monday evening: NHC Monday, Oct 29, 2012 11:13 AM PDT  (Reuters) - Hurricane Sandy, located about 110 miles southeast of Atlantic City, New Jersey, and about 175 miles south-southeast of New York City, is expected to make landfall early Monday evening, the National Hurricane Center said in its latest bulletin. "Sandy is now moving toward the northwest near 28 miles per hour (44 km per hour). This general motion is expected to continue through this afternoon and evening until landfall occurs, followed by a turn toward the west-northwest tonight," the agency said. ... Full Story | Top |
| Supreme Court accepts PPL appeal in British tax case Monday, Oct 29, 2012 07:04 AM PDT WASHINGTON (Reuters) - The Supreme Court agreed on Monday to consider whether a U.S. company is entitled to a tax credit when it pays a so-called "windfall tax" imposed by the United Kingdom. At issue is a ruling against the U.S. energy company PPL Corp, which had taken a stake in Britain's South Western Electricity Plc, among the companies included in a UK privatization of 32 companies in the 1980s and 1990s. In reaction to a public backlash that the privatized companies had been sold too cheaply, the British government imposed one-time windfall taxes on those companies. ... Full Story | Top |
| Storm damages crops in Haiti, fueling food price woes Monday, Oct 29, 2012 10:53 AM PDT PORT-AU-PRINCE, Haiti (Reuters) - As Hurricane Sandy barreled toward the U.S. East Coast on Monday, the full extent of the storm's havoc on Haiti was just beginning to emerge. Extensive damage to crops throughout the southern third of the country, as well as the high potential for a spike in cases of cholera and other water-borne diseases, could mean Haiti will see the deadliest effects of Sandy in the coming days and weeks. Haiti reported the highest death toll in the Caribbean, as swollen rivers and landslides claimed at least 52 lives, according to the country's Civil Protection office. ... Full Story | Top |
| Residents blocked from returning to captured Libyan town Monday, Oct 29, 2012 07:02 AM PDT  TRIPOLI (Reuters) - Thousands of Libyans who fled fighting in the former Gaddafi stronghold of Bani Walid will not be allowed to return home for several more days until work was complete to make the town safe and restore services, officials said on Monday. Militias aligned with the defense ministry took control of Bani Walid - one of the last towns to fall to rebels in last year's war - on Wednesday after fighting that has underlined the weakness of central authority a year after dictator Muammar Gaddafi was deposed. ... Full Story | Top |
| Mexican city battered by drug gangs feels lure of truce Monday, Oct 29, 2012 09:47 AM PDT  TORREON, Mexico (Reuters) - In a five-year struggle with Mexico's most notorious drug cartel, the city of Torreon has suffered a 16-fold increase in murders, fired its police department and lost control of its main prison to the gang. The Zetas cartel arrived in Torreon in mid-2007, and this center of manufacturing, mining and farming once seen as a model for progress has become one of Mexico's most dangerous cities. ... Full Story | Top |
| Petronas, Progress extend closing date on proposed deal Monday, Oct 29, 2012 09:57 AM PDT  KUALA LUMPUR (Reuters) - Malaysian state oil company Petronas said on Monday it has extended the closing date on its bid for Canadian gas producer Progress Energy Resources until November 30, as it works to overturn the Canadian government's rejection of the proposed deal. Canada blocked Petronas' C$5.17 billion ($5.18 billion) bid for Progress this month after Industry Minister Christian Paradis said it was unlikely to bring a "net benefit" to the country. The government gave Petronas 30 days to make additional representations to alter the ruling. ... Full Story | Top |
| China snubs SE Asia push for South China Sea deal Monday, Oct 29, 2012 06:09 AM PDT  PATTAYA, Thailand (Reuters) - China is stonewalling attempts to start talks on a multilateral "code of conduct" governing the strategically located South China Sea and an agreement could still be years away, Southeast Asian officials said on Monday. Beijing's assertion of sovereignty over the vast stretch of the water has set it directly against Vietnam and the Philippines, while Brunei, Taiwan and Malaysia also lay claim to other parts of the region, making it Asia's biggest potential military troublespot. ... Full Story | Top |
| Some states will soon call the roll on school reform Monday, Oct 29, 2012 04:04 AM PDT  (Reuters) - Voters in several states will weigh in next month on some of the most contentious issues in public education, including teacher tenure, charter schools and merit pay for teachers, as a national fight over education reform hits the ballot box. The campaigns have been fierce and often nasty. In one corner: proponents of dramatically overhauling public education, including several of America's wealthiest families, led by Microsoft founder Bill Gates and Wal-Mart heir Alice Walton. ... Full Story | Top |
| Obama cancels Tuesday campaign event to focus on storm Sandy Monday, Oct 29, 2012 07:13 AM PDT  WASHINGTON (Reuters) - U.S. President Barack Obama will not travel to a campaign event scheduled for Tuesday in Wisconsin and will stay in Washington to monitor Hurricane Sandy, the White House said on Monday. The event, just eight days ahead of the November 6 election, was scheduled to take place in the battleground state's Green Bay area. Instead, Obama will "stay in Washington ... on Tuesday and closely monitor the impact of and response to Hurricane Sandy," the White House said in a statement. (Reporting By Susan Heavey; Editing by Mohammad Zargham) Full Story | Top |
| Ukraine president's party set for election win, OSCE unhappy Monday, Oct 29, 2012 06:23 AM PDT  KIEV (Reuters) - Ukrainian President Victor Yanukovich's party was on course on Monday to secure a parliamentary majority but international monitors said flaws in the way the election was conducted meant the country had taken a "step backwards". Exit polls and first results from Sunday's vote showed Yanukovich's Party of the Regions would, with help from long-time allies, win more than half the seats in the 450-member assembly after boosting public sector wages and welfare handouts to win over disillusioned voters in its traditional power bases. ... Full Story | Top |
| Greek editor stands trial over Swiss accounts list Monday, Oct 29, 2012 10:21 AM PDT  ATHENS (Reuters) - A prominent Greek journalist who published the names of more than 2,000 wealthy Greeks with Swiss bank accounts appeared in court on Monday to stand trial for violating data privacy laws in a case which aroused international concern. Costas Vaxevanis, editor of the "Hot Doc" weekly magazine, was arrested at the weekend for publishing the "Lagarde List" which French authorities gave to Athens in 2010 so that the account holders could be investigated for possible tax evasion. ... Full Story | Top |
| Stock markets closed as storm hobbles New York Sunday, Oct 28, 2012 10:15 PM PDT  NEW YORK (Reuters) - U.S. stock and options markets will be closed on Monday, and possibly Tuesday, as regulators, exchanges and brokers worry about the integrity of markets and the safety of employees in the face of Hurricane Sandy. Market participants and regulators decided late on Sunday to shut the market, reversing a plan to keep electronic trading going on Monday. Bond markets will remain open, but will close at noon, a trade group said. ... Full Story | Top |
| Japan PM signals election can wait, defies opposition Monday, Oct 29, 2012 12:54 AM PDT  TOKYO (Reuters) - Japan's Prime Minister Yoshihiko Noda made clear on Monday he was in no rush to go to the polls, speaking of the risk of a "political vacuum" in a speech likely to anger an opposition that has urged him to keep a promise to call an election soon. The ruling Democratic Party of Japan (DPJ) swept to power in 2009 and holds a slim majority in the powerful lower house of parliament, but the opposition's domination of the upper house has it allowed it to block crucial budget deficit funding legislation. ... Full Story | Top |
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