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| China bank regulator says liquidity ample, debt risks manageable Friday, Jun 28, 2013 08:16 PM PDT  By Gabriel Wildau and Samuel Shen SHANGHAI (Reuters) - China's chief banking regulator said on Saturday that liquidity in China's banking system is sufficient and pledged to control risks from local government debt, real estate and shadow banking. Despite a cash squeeze that sent money-market interest rates soaring over the last two weeks, banks have more than enough reserves to meet settlement needs, Shang Fulin, chairman of the Chinese Banking Regulatory Commission (CBRC), said at a financial forum on Saturday. ... Full Story | Top |
| TV drama 'Ray Donovan' delivers flawed man as Hollywood's 'fixer' Friday, Jun 28, 2013 06:42 PM PDT  By Eric Kelsey LOS ANGELES (Reuters) - Broken arms, baseball bat beat-downs, bugged hotel rooms, and a drag queen prostitute blackmailing the star of an upcoming blockbuster action film. That is a typical week for Ray Donovan, a Hollywood "fixer" and latest anti-hero persona to land on U.S. cable television in Showtime drama "Ray Donovan" that debuts on Sunday after the final season premiere of popular serial killer drama "Dexter. ... Full Story | Top |
| Reader's Digest publisher expects to emerge from bankruptcy by end: July Friday, Jun 28, 2013 05:35 PM PDT (Reuters) - The publisher of the Reader's Digest magazine said it expects to emerge from bankruptcy by the end of July after the bankruptcy court for the Southern District of New York approved its reorganization plan. The Reader's Digest Association Inc and its affiliates filed for Chapter 11 bankruptcy protection for the second time in less than four years in February, citing a greater-than-expected decline in the media industry. ... Full Story | Top |
| U.S. approves a horse slaughterhouse, sees two more plants Friday, Jun 28, 2013 05:29 PM PDT WASHINGTON (Reuters) - A New Mexico meat plant received federal approval on Friday to slaughter horses for meat, a move that drew immediate opposition from animal rights group and will likely be opposed by the White House. The U.S. Agriculture Department said it was required by law to issue a "grant of inspection" to Valley Meat Co, Roswell, New Mexico, because it had met all federal requirements. Now, the USDA is obliged to assign meat inspectors to the plant. The USDA also said it may soon issue similar grants for plants in Missouri and Iowa. ... Full Story | Top |
| Rolling Stones aim to give crowd satisfaction at Glastonbury Friday, Jun 28, 2013 05:13 PM PDT  By Belinda Goldsmith PILTON, England (Reuters) - It might only be rock'n'roll but, 50 years on, Mick Jagger still likes it - and insists he will keep going as long as fans want to see the Rolling Stones, set to headline the Glastonbury festival on Saturday. Jagger, who turns 70 next month, said the once-controversial band still had comment to make on what was going on in the world, even if its voice seemed tamer than it once did. ... Full Story | Top |
| Who makes the most in Obama's White House? Friday, Jun 28, 2013 04:59 PM PDT  By Roberta Rampton and Margaret Chadbourn WASHINGTON (Reuters) - Twenty-two of President Barack Obama's top advisers make the top White House salary of $172,200 per year - but there is one official who earns 30 percent more. It's not Chief of Staff Denis McDonough. Not Obama's senior adviser and close friend Valerie Jarrett. Not Cecilia Munoz, who is overseeing White House efforts on immigration reform, nor Lisa Monaco, who advises Obama on homeland security and counterterrorism. ... Full Story | Top |
| Arctic Monkeys boost upbeat crowd as Glastonbury mud dries Friday, Jun 28, 2013 04:25 PM PDT  By Isla Binnie PILTON, England (Reuters) - British indie rock band Arctic Monkeys cranked up the volume to end the first day of the Glastonbury festival on Friday when the sun emerged after 18 hours of rain to brighten up the mood. The band from Sheffield in northern England began by blasting their new single "Do I Wanna Know?" to about 100,000 high-spirited revelers from the main Pyramid stage at the world's largest greenfield music festival in southwest England. "We're going to play all night long Glastonbury. ... Full Story | Top |
| Judge scrutinizes Facebook deal to end privacy lawsuit over ads Friday, Jun 28, 2013 03:55 PM PDT  By Dan Levine SAN FRANCISCO (Reuters) - Child rights advocates tried to convince a U.S. judge on Friday that a Facebook legal settlement did not go far enough to keep content created by minors out of the hands of advertisers. Five plaintiffs filed a proposed class action against Facebook in 2011, saying the social networking giant's "Sponsored Stories" program shared user's "likes" of certain advertisers without paying them or allowing them to opt out. The case has highlighted tension between privacy concerns and Facebook's drive to monetize user content. ... Full Story | Top |
| Fed's Stein puts focus on September as time to assess QE3 Friday, Jun 28, 2013 03:54 PM PDT  By Jonathan Spicer and Alister Bull NEW YORK/WHITE SULPHUR SPRINGS, West Virginia (Reuters) - September could be an opportune time for the Federal Reserve to consider scaling back its assets purchase, an influential official of the U.S. central bank said on Friday, as he stressed that the Fed must take a long view of economic progress and not be blinded by the most recent data. ... Full Story | Top |
| Barrick slows work at Pascua-Lama; defers costs Friday, Jun 28, 2013 03:50 PM PDT TORONTO (Reuters) - Barrick Gold Corp said on Friday it is slowing construction at its Pascua-Lama gold project in South America, as it looks to rein in spending on the severely delayed project, already billions of dollars over budget. The company said re-sequencing of the project will lead to significant deferral of planned capital spending in 2013 and 2014. Barrick now expects to reduce capital expenditures on the project in 2013 and 2014 by a total of $1.5 to $1.8 billion. ... Full Story | Top |
| Former Swiss banker pleads guilty to U.S. tax evasion Friday, Jun 28, 2013 03:48 PM PDT By Douwe Miedema WASHINGTON (Reuters) - A former Swiss banker faces up to five years in jail after pleading guilty to dodging U.S. taxes and paying a $1.5 million fine before being sentenced, the U.S. Department of Justice said on Friday. Pius Kampfen, who worked for Switzerland's Julius Baer for 40 years and worked in California as the bank's senior West Coast representative of San Francisco, kept accounts at a number of Swiss-based banks until long after he retired in 2001, but failed to report those on his U.S. tax returns. ... Full Story | Top |
| Publisher scraps Paula Deen's top-selling cookbook before release Friday, Jun 28, 2013 03:43 PM PDT  LOS ANGELES (Reuters) - An upcoming book of recipes by disgraced celebrity chef Paula Deen that shot to the top of online bookseller Amazon's best-sellers list has been canceled, the publisher said on Friday, adding to the fallout from Deen's use of a racial slur. "After careful consideration, Ballantine Books has made the difficult decision to cancel the publication, 'Paula Deen's New Testament: 250 Favorite Recipes, All Lightened Up,'" the publisher said in a statement. Ballantine declined to elaborate on its decision to scrap the book by Deen, considered the queen of Southern cooking. ... Full Story | Top |
| BET kicks off live music festival with Beyonce ahead of awards Friday, Jun 28, 2013 03:36 PM PDT  By Piya Sinha-Roy LOS ANGELES (Reuters) - Singer Beyonce will kick off the first BET three-day music festival on Friday, ahead of the BET awards this weekend, as the network hopes to attract more fans to music and comedy by black artists. The annual BET awards, now in its 13th year, celebrate black musicians, actors and athletes across a variety of categories spanning music, film and sport. It is televised on the cable TV network BET, Black Entertainment Television, part of Viacom Inc. ... Full Story | Top |
| Fitch affirms U.S. AAA rating but outlook still negative Friday, Jun 28, 2013 03:35 PM PDT By Daniel Bases NEW YORK (Reuters) - Fitch Ratings on Friday affirmed the United States' top level credit rating at AAA but held the outlook at negative, saying still-elevated debt levels leave the country vulnerable to shocks without more deficit reduction. The affirmation reflects strong economic and credit fundamentals, the firm said in a statement. In addition, Fitch cited the decline in the federal budget deficit to levels "consistent with debt stabilization." U.S. market reaction was muted by the late hour of the announcement. Benchmark 10-year U.S. ... Full Story | Top |
| TAKE A LOOK - San Francisco hosts high-tech America's Cup Friday, Jun 28, 2013 03:32 PM PDT The 34th America's Cup regatta will be held this summer on San Francisco Bay.Oracle co-founder and CEO Larry Ellison, the winner of the 2010 America's Cup,earned the right to chose the location, ground rules and boat design this year.He specified that racing will be held near shore on extremely fast and fragile72-foot catamarans, a format designed to increase the excitement and spectatorappeal of the event. ... Full Story | Top |
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