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| Crocs to receive $200 million from Blackstone, CEO to retire Sunday, Dec 29, 2013 07:45 PM PST  Crocs Inc said Blackstone Group LP is making a $200 million investment that will give the private equity firm a 13 percent stake in the shoe company. In exchange for the $200 million, Blackstone will receive preferred stock that can convert to common stock in three years if certain conditions are met. The preferred stock will have a 6 percent cash dividend rate and is convertible into shares of common stock at a conversion price of $14.50 per share. The shoemaker also said late on Sunday that the company's chief executive, John McCarvel, plans to retire in April and will also give up his seat on Crocs' board. Full Story | Top |
| Texas billionaire Harold Simmons dies at 82 Sunday, Dec 29, 2013 07:19 PM PST (Reuters) - Billionaire Harold Simmons, one of the richest men in America and a major contributor to the Republican Party, has died in his native Texas at 82. The death, confirmed in a statement by Texas Governor Rick Perry, was first reported on the website of the Dallas Morning News which said he died on Saturday at Baylor University Medical Center at Dallas. Simmons, currently listed at No. 40 on Forbes' list of the 400 wealthiest Americans, funneled millions of dollars to Republican campaigns with a view toward defeating President Barack Obama last year. He was widely considered one of the Republican Party's most aggressive donors in 2012 and took advantage of new rules that place few limits on how much money wealthy individuals and corporations can contribute to political groups. Full Story | Top |
| Severe Antarctic weather slows Australian icebreaker bid to reach stranded ship Sunday, Dec 29, 2013 07:00 PM PST  By Maggie Lu Yueyang SYDNEY (Reuters) - Severe Antarctic weather was slowing an Australian icebreaker's bid to reach a Russian ship trapped in ice since Christmas eve with 74 people onboard, the Australian maritime rescue agency said on Monday. The Aurora Australis was currently about 11 nautical miles from the stranded Russian ship Akademik Shokalskiy, said the Australian Maritime Safety Authority (AMSA), which is co-ordinating the rescue. The Aurora Australis is travelling slowly due to the conditions to ensure the safety of all on board," AMSA said in a statement. Full Story | Top |
| Japan shares seek to end bumper year on high note Sunday, Dec 29, 2013 05:31 PM PST  By Wayne Cole SYDNEY (Reuters) - Japanese shares looked to end a stellar year with a flourish, rising to another six-year peak as the yen skidded to fresh lows for a third straight session, again leaving behind other Asian markets. Much of Asia, however, continued to underperform, in part due to investors shifting funds from emerging markets and into Europe and the United States. Japan's competitors have also been complaining about the weak yen giving it a trade advantage. South Korea's deputy finance minister warned the yen was falling too fast, and the head of China's National Development and Reform Commission said the impact on neighbors needed to be monitored. Full Story | Top |
| Libyan oil guards threaten to block gas pipeline to Tripoli: sources Sunday, Dec 29, 2013 04:57 PM PST  By Ghaith Shennib TRIPOLI (Reuters) - Oil security guards in central Libya have threatened to block a gas pipeline to the capital Tripoli unless the government meets their salary demands, oil sources and local media said on Sunday. If confirmed, the protest would mark an escalation of a wave of strikes at oilfields and export terminals gripping Libya, reducing its lifeline oil exports to a trickle. The OPEC producer is facing turmoil as the government of Prime Minister Ali Zeidan struggles to control heavily-armed militias who helped topple Muammar Gaddafi in 2011 but kept their weapons to press for political and financial demands. A mix of tribes and militias have seized for months four export ports in the east alone to demand regional autonomy and a greater share of oil revenues from the central government. Full Story | Top |
| Exclusive - Hacker took over BBC server, tried to 'sell' access on Christmas Day Sunday, Dec 29, 2013 04:44 PM PST  By Jim Finkle BOSTON (Reuters) - A hacker secretly took over a computer server at the BBC, Britain's public broadcaster, and then launched a Christmas Day campaign to convince other cyber criminals to pay him for access to the system. "HASH" sought to convince high-profile hackers that he had infiltrated the site by showing them files that could only be accessed by somebody who really controlled it, Holden said. Full Story | Top |
| Special Report: Japan's homeless recruited for murky Fukushima clean-up Sunday, Dec 29, 2013 04:14 PM PST  By Mari Saito and Antoni Slodkowski SENDAI, Japan (Reuters) - Seiji Sasa hits the train station in this northern Japanese city before dawn most mornings to prowl for homeless men. The men in Sendai Station are potential laborers that Sasa can dispatch to contractors in Japan's nuclear disaster zone for a bounty of $100 a head. It's also how Japan finds people willing to accept minimum wage for one of the most undesirable jobs in the industrialized world: working on the $35 billion, taxpayer-funded effort to clean up radioactive fallout across an area of northern Japan larger than Hong Kong. Almost three years ago, a massive earthquake and tsunami leveled villages across Japan's northeast coast and set off multiple meltdowns at the Fukushima nuclear plant. Full Story | Top |
| Monte Paschi faces nationalization threat after cash call delay Sunday, Dec 29, 2013 04:02 PM PST  By Valentina Za MILAN (Reuters) - A delay to vital fundraising at Banca Monte dei Paschi di Siena has increased the risk that Italy's third-biggest bank has to be nationalized, a move the government would like to avoid. The bank's chairman and its chief executive may resign following the unprecedented clash with the main shareholder in the Siena-based lender, a charitable banking foundation with close ties to local politicians. The focus of attention now turns to Rome where both the economy ministry, which has oversight of banking foundations, and the Bank of Italy are closely following events. The capital increase is part of a tough restructuring plan agreed with the European Commission in order to receive clearance for the state bailout. Full Story | Top |
| Japan shares look to end bumper year on strong note Sunday, Dec 29, 2013 03:55 PM PST  By Wayne Cole SYDNEY (Reuters) - Asian markets looked to run out the year with a flourish on Monday, with Japanese shares again set to lead the way as the yen skidded to fresh lows for a third straight session. Aiding the economy has been the fall in the yen this year, which has left it at five-year trough against the dollar and euro. Full Story | Top |
| 'Good Morning America' host Robin Roberts reveals same-sex relationship Sunday, Dec 29, 2013 03:03 PM PST  By Andrea Burzynski NEW YORK (Reuters) - "Good Morning America" co-anchor Robin Roberts publicly acknowledged a same-sex relationship for the first time on Sunday afternoon in a Facebook post reflecting on her recovery from a blood disorder. Roberts, 53, included the information alongside a picture of her and her dog in a post marking a milestone in her recovery from the bone marrow transplant she underwent in 2012. This is the first time Roberts has publicly mentioned a relationship with a woman. In 2012 Roberts was diagnosed with the blood disorder myelodysplastic syndrome (MDS) and took a medical leave of absence from "Good Morning America." She returned to the show in February 2013 and won a Peabody Award the same year for "Robin's Journey," a series of TV reports that chronicled her battle against MDS. Full Story | Top |
| Japan mid-tier camera makers face shakeout as smartphones shatter mirrorless hopes Sunday, Dec 29, 2013 01:20 PM PST  By Sophie Knight and Reiji Murai TOKYO (Reuters) - Panasonic Corp and Japan's other mid-tier camera makers have a battle on their hands to win over a smartphone "selfie" generation to mirrorless cameras that held such promise when they were launched around five years ago. Panasonic, like peers Fujifilm Holdings and Olympus Corp, has been losing money on its cameras since mobile phones that take high-quality photos ate into the compact camera business. Full Story | Top |
| Opportunity glimmers through China's toxic smog Sunday, Dec 29, 2013 01:11 PM PST  By Adam Jourdan SHANGHAI (Reuters) - As China's smog levels crept past record highs in early December, the phone lines at pollution-busting kit maker Broad Group lit up with Chinese customers worried about hazardous pollution levels that have gripped China this year. China's government is struggling to meet pollution reduction targets and has pledged to spend over 3 trillion yuan ($494 billion) to tackle the problem, creating a growing market for companies that can help boost energy efficiency and lower emissions. "Recently, we haven't been able to make products fast enough to keep up with demand," said Hu Jie, a general manager at Broad Group, which makes pollution-related products ranging from hand-held monitors to eco-friendly buildings. Pollution problems in China, the world's second-biggest economy, are by no means new. Full Story | Top |
| 'Hobbit' blasts past newcomers to claim third box office crown Sunday, Dec 29, 2013 01:08 PM PST  LOS ANGELES/NEW YORK (Reuters) - "The Hobbit: The Desolation of Smaug," the special-effects-laden tale that pits dwarfs against a dragon, blasted to its third consecutive box office title, collecting $29.9 million over the post-Christmas weekend to beat newcomers "The Wolf of Wall Street" and "The Secret Life of Walter Mitty." Walt Disney's animated film "Frozen" was second with ticket sales of $28.8 million in its third week, ahead of Will Ferrell's quirky comedy "Anchorman 2: The Legend Continues" that collected $20.2 million at domestic theaters. "American Hustle," which reunited director David O. Russell with his "Silver Linings Playbook" stars Bradley Cooper and Jennifer Lawrence, was fourth with $19.6 million in ticket sales at theaters in the U.S. and Canada, according to studio estimates. Director Martin Scorsese's "The Wolf of Wall Street" was fifth with $18.5 million after finishing a close second to "The Hobbit" on Christmas Day, according to estimates compiled by Rentrak. Full Story | Top |
| Justice Sotomayor to drop ball, not gavel, on 2014 Times Square countdown Sunday, Dec 29, 2013 12:40 PM PST  U.S. Supreme Court Associate Justice Sonia Sotomayor will take center stage among about 1 million revelers in New York's Times Square to usher in 2014 by pressing the button to lower the iconic countdown ball, organizers said on Sunday. New York native Sotomayor will join pop star Lady Gaga, boxing great Muhammad Ali as well as Bill and Hillary Clinton among those who have had the honor of starting the ball drop, which organizers said will be watched by an estimated 1 billion people around the world. Sotomayor was chosen for her achievements and rise from humble beginnings in the Bronx to become the first Hispanic appointed to the country's highest court, organizers said. "She's an inspirational and aspirational choice," said Tim Tompkins, president of the Times Square Alliance, which organizes the annual event. Full Story | Top |
| Swatch fire strikes at "heart" of watch mechanism production Sunday, Dec 29, 2013 11:20 AM PST A fire has destroyed one workshop and damaged another at Swatch Group's watch mechanism subsidiary, the Swiss firm that has a near monopoly on the supply of mechanisms to other watchmakers said. Swatch Chief Executive Nick Hayek told Swiss radio on Sunday that the blaze had struck at the "heart of production" at ETA Manufacture Horlogere and the impact on output would be examined more closely on Monday. Hayek said the Swiss watchmaker, known for its colorful plastic timepieces and high-end Omega brand, had other factories it could fall back on. ETA is the world's biggest supplier of watch "movements", the internal mechanisms that drive the moving parts of a watch, and Swatch counts high-profile luxury groups Richemont , LVMH and Hermes among its customers. Full Story | Top |
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