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| Dollar sandbagged by U.S. politics, stocks resilient Wednesday, Oct 02, 2013 08:27 PM PDT  By Wayne Cole SYDNEY (Reuters) - The U.S. dollar sagged to eight-month lows on Thursday as the U.S. government shutdown dragged on with no end in sight, though share markets found comfort in expectations major central banks might now have to stay super-loose for longer. Also helping sentiment was an upbeat survey on China's huge services sector, an antidote to a disappointing report on manufacturing earlier in the week. MSCI's broadest index of Asia-Pacific shares outside Japan moved 0.8 percent higher, after a flat performance on Wednesday. ... Full Story | Top |
| China official services PMI hits six-month high, supported third-quarter pickup Wednesday, Oct 02, 2013 08:11 PM PDT  BEIJING (Reuters) - Activity in China's services sector expanded at the fastest pace in six months in September as demand grew, cementing a modest pickup in the world's second-largest economy. The official purchasing managers' index (PMI) for the non-manufacturing sector rose to 55.4 in September - the highest reading since March - from 53.9 in August, the National Bureau of Statistics (NBS) said on Thursday. A reading above 50 indicates activity in the sector is accelerating, while one below 50 indicates it is slowing. ... Full Story | Top |
| MF Global trustee plans to return more customer funds Wednesday, Oct 02, 2013 08:08 PM PDT  (Reuters) - The trustee liquidating the brokerage unit of MF Global Holdings Ltd has asked a federal bankruptcy judge for permission to return remaining funds to U.S. customers who traded on domestic exchanges. Wednesday's request by court-appointed trustee James Giddens would reallocate money earmarked for general unsecured creditors to customers of the brokerage, who have a higher-priority payback status. The move could bring closure to customers who have waited nearly two years to fully recover their money, which became tied up when MF Global went bankrupt on October 31, 2011. ... Full Story | Top |
| BP wins reprieve over Gulf spill payouts: U.S. appeals court Wednesday, Oct 02, 2013 08:04 PM PDT  By Jonathan Stempel (Reuters) - BP Plc won a legal reprieve in its effort to force the administrator of a settlement related to the 2010 Gulf of Mexico oil spill to tighten standards in assessing claims, potentially sparing the oil company billions of dollars of extra costs. A divided 5th U.S. Circuit Court of Appeals in New Orleans on Wednesday directed U.S. District Judge Carl Barbier, who in March had approved administrator Patrick Juneau's evaluation methods, to take a fresh look at which claims are legitimate. ... Full Story | Top |
| Firms controlled by Asia's richest man face Australian tax fight Wednesday, Oct 02, 2013 08:00 PM PDT  SYDNEY (Reuters) - The Australian Tax Office is pursuing unpaid taxes from companies controlled by Asia's richest man, Li Ka-shing, that relate to profits made in the country's power, gas and water industries. The Federal Court recently ruled against two companies related to Li's Cheung Kong (Holdings) Ltd , ordering they pay A$776 million ($726.92 million) in unpaid tax and penalties. ... Full Story | Top |
| Leader of Greek far-right Golden Dawn party jailed pending trial Wednesday, Oct 02, 2013 07:59 PM PDT  By Renee Maltezou and George Georgiopoulos ATHENS (Reuters) - The leader of Greece's far-right Golden Dawn party was sent to jail pending trial on charges of belonging to a criminal group, a court official told Reuters early on Thursday, the first such action in decades against an elected party chief. Golden Dawn leader Nikolaos Mihaloliakos appeared before investigating magistrates and a prosecutor during a six-hour plea session to respond to charges of founding and participating in a criminal organization. "He will be jailed pending trial," the court official said on condition of anonymity. ... Full Story | Top |
| Jury clears promoter of liability in Michael Jackson's death Wednesday, Oct 02, 2013 07:48 PM PDT  By Eric Kelsey and Dana Feldman LOS ANGELES (Reuters) - A Los Angeles jury cleared concert promoter AEG Live of liability on Wednesday in a wrongful death lawsuit brought by the family of Michael Jackson, in a trial that offered a glimpse into the private life and final days of the so-called King of Pop. The verdict, which concluded that the doctor the company hired to care for the singer was not unfit for his job, capped a sensational five-month trial that was expected to shake up the way entertainment companies treat their most risky talent. ... Full Story | Top |
| Eight killed as church bus crashes into car, truck in Tennessee Wednesday, Oct 02, 2013 07:13 PM PDT By Tim Ghianni NASHVILLE, Tennessee (Reuters) - Eight people were killed on Wednesday when a tire blew out on a bus carrying passengers from a church outing and it crossed over the median on a Tennessee interstate and crashed into a sport-utility vehicle and a truck, officials said. Six people were killed on the bus, which was from Statesville, North Carolina. The crash also killed one person in the SUV and one person in the tractor trailer truck, highway patrol spokeswoman Dalya Qualls said. A total of 14 people were injured, eight critically, authorities said. ... Full Story | Top |
| Motor racing-Bianchi to stay with Marussia in 2014 Wednesday, Oct 02, 2013 06:50 PM PDT YEONGAM, South Korea, Oct 3 (Reuters) - French driver Jules Bianchi will remain with Marussia next season, the Russian-licensed Formula One team said on Thursday. The highly-regarded 23-year-old, who is part of the Ferrari young driver academy, is currently in his rookie season with Marussia. Marussia will have Ferrari engines next year, when the rules go through major changes and a new V6 turbocharged unit is introduced. ... Full Story | Top |
| Decor magazine Domino revived as quarterly, online retailer Wednesday, Oct 02, 2013 05:38 PM PDT By Jennifer Saba NEW YORK (Reuters) - Domino, a magazine focused on do-it-yourself home decor until sparse advertising forced its closure during the financial crisis, is re-launching on Thursday as an e-commerce site and quarterly publication. The revival marks the latest effort by publishers casting about for new forms of revenue as ad sales decline. The magazine industry eked out a gain of less than 1 percent in advertising revenue for the first half of the year, according to Publishers Information Bureau. ... Full Story | Top |
| Tesla shares drop 6 percent after report of Model S fire Wednesday, Oct 02, 2013 05:03 PM PDT  By Deepa Seetharaman DETROIT (Reuters) - Tesla Motors Co shares fell 6 percent on Wednesday after an automotive blog published images of a Model S electric sedan in flames after an accident on Tuesday morning just south of Seattle, Washington. The blog, called Jalopnik, posted pictures and a video of the Model S fire on Wednesday. Tesla confirmed the authenticity of the images and said the car caught fire after the driver ran over a "large metallic object" causing extensive damage to the front end of the car. Tesla shares fell 6.2 percent to $180. ... Full Story | Top |
| Obama, congressional leaders still deadlocked on shutdown Wednesday, Oct 02, 2013 04:44 PM PDT  By Jeff Mason and Thomas Ferraro WASHINGTON (Reuters) - President Barack Obama met with Republican and Democratic leaders in Congress on Wednesday to try to break a deadlock that has shut down wide swaths of the federal government, but there was no breakthrough. After more than an hour of talks, House of Representatives Speaker John Boehner said Obama refused to negotiate, while House Democratic Leader Nancy Pelosi and Senate Democratic Leader Harry Reid accused Republicans of trying to hold the president hostage over Obamacare. ... Full Story | Top |
| Brazilian police stop Indians from storming Congress Wednesday, Oct 02, 2013 04:43 PM PDT  By Anthony Boadle BRASILIA (Reuters) - Brazilian police used pepper spray to stop hundreds of protesting Indians from storming Congress on Wednesday, clamping down on the second day of indigenous rights marches. Tribes across Brazil blocked highways and occupied government offices to oppose what they see as a steady undermining of their rights to ancestral lands by farmers supported by politicians in disputes that have occasionally turned violent. ... Full Story | Top |
| Italian prosecutors seek JPMorgan indictment for Paschi-Antonveneta deal: report Wednesday, Oct 02, 2013 04:41 PM PDT  (Reuters) - Siena prosecutors requested that JPMorgan Chase & Co stand trial for obstructing regulators as part of a wider probe into Banca Monte dei Paschi di Siena SpA's purchase of Banca Antonveneta SpA , Bloomberg reported citing people familiar with the matter. According to the Bloomberg report, prosecutors allege JPMorgan withheld information from Italian regulators about a 1 billion euro ($1.36 billion) financing the New York-based bank arranged for Monte Paschi's takeover of Antonveneta in 2008. ... Full Story | Top |
| Glencore Xstrata to close nickel mine in the Dominican Republic Wednesday, Oct 02, 2013 04:40 PM PDT  By Manuel Jimenez SANTO DOMINGO (Reuters) - The global mining and commodities trading giant Glencore Xstrata is suspending operations at its Falcondo nickel mine in the Dominican Republic due to falling nickel prices. Wednesday's announcement came a day after legislators created a national park on the outskirts of the mine, although the company said its decision was not related to environmental pressures. A spokesman for the Switzerland-based company said the mine will be shuttered temporarily for up to three years resulting in the loss of up to 1,000 jobs. ... Full Story | Top |
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