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| China official PMI hits 16-month high in August Saturday, Aug 31, 2013 08:11 PM PDT  By Aileen Wang and Jonathan Standing BEIJING (Reuters) - China's factory activity expanded at the fastest pace in more than a year in August with a jump in new orders, official data showed on Sunday, raising hopes that a rapid economic slowdown in the world's second-largest economy may have been arrested. The purchasing managers' index (PMI) figure, published by the National Bureau of Statistics, rose to 51.0 in August from 50.3 in July, the highest level since last April and ahead of market expectations of 50.6 in a Reuters poll. ... Full Story | Top |
| Verizon, Vodafone boards set to vote on $130 billion wireless deal Saturday, Aug 31, 2013 07:17 PM PDT  By Soyoung Kim and Michelle Sierra NEW YORK (Reuters) - The boards of Verizon Communications and Vodafone Group Plc are expected to vote this weekend on a $130 billion deal, funded by about $65 billion of debt, to give the U.S. telecom giant complete ownership of Verizon Wireless, people familiar with the matter said on Saturday. A deal, which the sources said could be announced as soon as Monday, would cap Verizon's decade-long effort to win full control of the No. 1 U.S. wireless provider. ... Full Story | Top |
| Verizon nears $130 billion wireless deal, to finance about $65 billion: sources Saturday, Aug 31, 2013 04:38 PM PDT By Soyoung Kim and Michelle Sierra (Reuters) - Verizon Communications is near a $130 billion deal to buy out the 45 percent stake in Verizon Wireless it does not already own from Vodafone Group Plc and plans to raise about $65 billion to fund the purchase, people familiar with the matter said on Saturday. Boards of Verizon and Vodafone are each expected to meet this weekend to approve the proposed transaction, which could be announced on Monday, the people said. ... Full Story | Top |
| Ten-year-old boy wins Alaska's contest for giant cabbages Saturday, Aug 31, 2013 02:37 PM PDT By Yereth Rosen PALMER, Alaska (Reuters) - A 10-year-old boy has won Alaska's annual giant cabbage contest, submitting a 92.3-pound (41.9 kg) specimen named "Bob" to officials at the state fair. Keevan Dinkel of Wasilla, Alaska, produced this year's winning entry, which was carried in by several Boy Scouts, in the Alaska State Fair's Giant Cabbage Weigh-Off on Friday night. ... Full Story | Top |
| Ford recalls 370,000 Lincoln, Mercury, and Ford sedans Saturday, Aug 31, 2013 02:35 PM PDT (Reuters) - Ford Motor Co is recalling about 370,000 model year 2005 to 2011 Ford Crown Victoria, Mercury Grand Marquis and Lincoln Town Car sedans in the United States and Canada to fix a steering shaft issue, the company said in a statement. Corrosion of the lower intermediate steering shaft of vehicles in "high corrosion states and provinces" may result in the loss of steering, the company said. The 355,000 vehicles in the U.S. ... Full Story | Top |
| British PM says understands, supports Obama position on Syria Saturday, Aug 31, 2013 12:01 PM PDT  LONDON (Reuters) - British Prime Minister David Cameron said on Saturday he supported Barack Obama's position on Syria after the U.S. president said he would seek a congressional vote for military action in response to a deadly chemical weapons attack. Cameron's plans for Britain join a potential military strike were thwarted on Thursday night when parliament narrowly voted against a government motion to authorize such action in principle. ... Full Story | Top |
| Riders flock to Milwaukee for Harley-Davidson's 110th anniversary Saturday, Aug 31, 2013 11:53 AM PDT  By Brendan O'Brien MILWAUKEE (Reuters) - Tens of thousands of motorcycle enthusiasts have roared into Milwaukee to celebrate the 110th anniversary of Harley-Davidson Co, but few traveled as far as Chai Chua. The 46-year-old business owner bid farewell to his wife and three children in Brunei about a week ago and set off with seven of his closest friends. They flew to Los Angeles, then hopped on rented Harley-Davidson motorcycles and headed to the Midwestern state. ... Full Story | Top |
| Director Franco finds comedy in tale of murderous backwoodsman Saturday, Aug 31, 2013 11:08 AM PDT  By Michael Roddy VENICE (Reuters) - Director James Franco says the character Lester Ballard in his new film "Child of God" has a trace of Charlie Chaplin in him, though the tale of a cave-dwelling necrophiliac is mostly as dark as can be. Based on Cormac McCarthy's novella of the same name, the movie premiered at the Venice Film Festival on Saturday portrays a Tennessee backwoodsman who has never recovered from his father's suicide and sinks into ever deeper levels of anti-social and psychopathic behavior. ... Full Story | Top |
| Slow pace of justice wears down Occupy Wall Street defendants Saturday, Aug 31, 2013 08:27 AM PDT  By Joseph Ax NEW YORK (Reuters) - Occupy Wall Street protesters who once vowed to "occupy" the courts by challenging their arrests on minor violations have since been defeated by the slow pace of justice, with many forgoing trial. As Occupy's two-year anniversary approaches on September 17, the movement that once captivated national attention has largely faded. Hundreds of protesters campaigning against economic inequality set up a makeshift encampment in a downtown Manhattan park, inspiring dozens of similar sites across the country. ... Full Story | Top |
| Merkel urges more market rules, co-opts challenger's pet issue Saturday, Aug 31, 2013 07:39 AM PDT  By Sarah Marsh BERLIN (Reuters) - German Chancellor Angela Merkel said she would push the G20 to make more progress on regulating financial markets and crack down on tax evasion, co-opting signature policy issues of her main challenger in September's elections. Merkel, who confronts leftist leader Peer Steinbrueck in a TV duel on Sunday, said she wanted to urge leaders of the G20 top world economies to agree a time frame for steps towards tighter regulation of the so-called "shadow banking" sector. ... Full Story | Top |
| ECB's Coeure says bank eyeing money market rates closely: paper Saturday, Aug 31, 2013 05:31 AM PDT  STOCKHOLM (Reuters) - The European Central Bank is closely watching money market rates and will make sure they don't rise too far, ECB policymaker Benoit Coeure said in an interview in a Swedish newspaper published on Saturday. Money market rates have increased on the back of comments by U.S. Federal Reserve Chairman Ben Bernanke that U.S. policy makers could begin to cut back on extraordinary stimulus measures. Some market players believe that the Fed could start tapering its $85 billion a month bond buying program as early as next month. ... Full Story | Top |
| Japan panel backs sales tax hike coupled with stimulus Saturday, Aug 31, 2013 04:36 AM PDT  By Stanley White TOKYO (Reuters) - Japan's government won backing for a controversial decision to raise the national sales tax in 2014 after influential members of a special advisory panel said the step would not threaten economic recovery or business confidence if it was coupled with other stimulus. "Japan's economy is steady at the moment and we should raise the tax as planned," Hiroshi Yoshikawa, a University of Tokyo economist told reporters on Saturday as he left the last session of a week-long, government hearing that also featured business leaders and consumer advocates. ... Full Story | Top |
| Angola cuts benchmark lending rate to 9.75 percent Saturday, Aug 31, 2013 03:01 AM PDT LISBON (Reuters) - Angola's central bank has cut its benchmark interest rate to 9.75 percent from 10 percent, it said in a statement after a meeting of its monetary policy committee late on Friday. The cut is the second this year. The rate went to 10 percent from 10.25 percent in January. Full Story | Top |
| Al Qaeda affiliate urges attacks on Egyptian army Saturday, Aug 31, 2013 02:34 AM PDT  DUBAI (Reuters) - One of al Qaeda's most militant affiliates has called on Egyptians to take up arms against their army, saying a bloody crackdown on Islamist protesters showed peaceful methods were futile, according to an Internet statement posted on Saturday. Scores of Egyptian security forces have been killed in a series of attacks by suspected Islamist militants - mostly in Egypt's Sinai Peninsula - since Islamist President Mohamed Mursi was deposed last month. ... Full Story | Top |
| Most French oppose attack on Syria and don't trust Hollande to do it: poll Saturday, Aug 31, 2013 02:27 AM PDT  PARIS (Reuters) - Most French people do not want France to take part in military action on Syria and most do not trust French President Francois Hollande to do so, a poll showed on Saturday. The United States said on Friday it would punish Syrian President Bashar al-Assad's government for a chemical attack that it says killed more than 1,400 people in Damascus last week, and Hollande said Britain's parliamentary vote against military strikes would not affect France's own actions. ... Full Story | Top |
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