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| Lawyers to renew push for reporter's sources in Colorado shooting case Friday, Jan 31, 2014 08:01 PM PST  By Keith Coffman DENVER (Reuters) - An attorney for accused Colorado movie theater gunman James Holmes said on Friday that the defense will petition the U.S. Supreme Court to force a reporter to divulge confidential sources she used for a story about the massacre. The move comes in response to a ruling in December by the New York State Court of Appeals that a state shield law for journalists protected the New York-based reporter for Fox News, Jana Winter, from revealing her confidential sources. Holmes has pleaded not guilty by reason of insanity, and prosecutors have said they will seek the death penalty if he is convicted. Days after the massacre, Fox News published an online story from Winter that said a notebook Holmes sent to a psychiatrist contained his plans to commit mass murder. Full Story | Top |
| Keystone report raises pressure on Obama to approve pipeline Friday, Jan 31, 2014 07:53 PM PST  By Roberta Rampton and Jeff Mason WASHINGTON (Reuters) - Pressure for President Barack Obama to approve the Keystone XL pipeline increased after a State Department report played down the impact it would have on climate change, irking environmentalists and delighting the project's proponents. But the White House signaled late on Friday that a decision on an application by TransCanada Corp to build the $5.4 billion project would be made "only after careful consideration" of the report, along with comments from the public and other government agencies. "The Final Supplemental Environmental Impact Statement includes a range of estimates of the project's climate impacts, and that information will now need to be closely evaluated by Secretary (of State John) Kerry and other relevant agency heads in the weeks ahead," White House spokesman Matt Lehrich said. Full Story | Top |
| China's January official PMI slips to six-month low Friday, Jan 31, 2014 07:50 PM PST  China's factory growth eased to an expected six-month low in January, hurt by weaker local and foreign demand, a survey showed, a soft start for the year that heightens worries of an economic slowdown. The official Purchasing Managers' Index (PMI) edged down to 50.5 in January from December's 51, the National Bureau of Statistics said on Saturday, in line with market expectations. The change reinforces concerns that China's economy is stuttering and could drag on financial markets on Monday as global investors, already nervous about capital flight in emerging markets, find another reason to sell riskier assets. Saturday's PMI showed China's factories saw fewer export orders and slacker growth in new orders last month. Full Story | Top |
| U.S. FAA downgrades India aviation rating; Air India, Jet hit Friday, Jan 31, 2014 07:45 PM PST  By Devidutta Tripathy NEW DELHI (Reuters) - U.S. authorities have downgraded India's aviation safety rating, citing a lack of safety oversight, meaning the country's carriers cannot increase flights to the world's biggest aviation market and face extra checks for existing ones. India said it expected to resolve by March all concerns raised by the U.S. Federal Aviation Administration, including appointing an adequate number of flight operation inspectors, and would ask the U.S. regulator to review its decision. "The FAA has determined that India at this time is not in compliance with the international standards for aviation safety oversight," the U.S. regulator said in extracts from a communication released by the Indian government on Friday. Jet Airways and state-run Air India , the only two carriers that fly from India to the United States, will be hit by the downgrade. Full Story | Top |
| California water allocation forecast hits record-low level Friday, Jan 31, 2014 07:39 PM PST  By Steve Gorman LOS ANGELES (Reuters) - A worsening drought in California will likely force a first-ever complete cutoff this year in state-supplied water sold to 29 irrigation districts, public water agencies and municipalities up and down the state, officials said Friday. Although the state Water Resources Department typically ends up supplying more water than first projected for the year ahead, its forecast for a "zero allocation" in 2014 is unprecedented since the agency began delivering water in 1967. The announcement came a day after the agency said that water content in the snow pack of the Sierra Nevada mountain range - a key measure of surface water supplies - stood at just 12 percent of average for this time of year. Barring an unexpected turn-around in California's current dry spell, the state faces its worst-ever water supply outlook, the agency said. Full Story | Top |
| Thai protesters join final anti-government march before election Friday, Jan 31, 2014 07:15 PM PST  By Alisa Tang BANGKOK (Reuters) - Anti-government protesters gathered in Bangkok's busy tourist area of Chinatown for the third and final day of marches in the capital denouncing Thailand's general election on Sunday amid fears of violence erupting during the vote. The government is pushing ahead with the election, despite protesters' threats to disrupt the vote and stop Prime Minister Yingluck Shinawatra's Puea Thai Party from returning to power. Protest leader Suthep Thaugsuban has called for a peaceful blockade of roads in the city, but in the same breath has vowed not to stop people voting. Full Story | Top |
| Indian diplomat's claim of immunity challenged by U.S. prosecutors Friday, Jan 31, 2014 07:11 PM PST  By Chris Francescani NEW YORK (Reuters) - The Indian diplomat whose December arrest led to a major international dispute holds no immunity from U.S. prosecution and should continue to faces charges of visa fraud, Manhattan federal prosecutors said in court papers filed Friday. Devyani Khobragade was arrested on December 12 on charges that she lied to U.S. authorities about what she paid her housekeeper. She was stripped-searched while detained in Manhattan federal courthouse, which led to a diplomatic firestorm between India and the United States that continued for weeks. Manhattan U.S. Attorney Preet Bharara's office argues in the court filings that Khobragade is a former diplomat and not immune from prosecution. Full Story | Top |
| New Orleans Mayor Landrieu aims to ride Katrina policies to new term Friday, Jan 31, 2014 06:56 PM PST  By Kathy Finn NEW ORLEANS (Reuters) - New Orleans Mayor Mitch Landrieu seeks re-election on Saturday, positioned as the front-runner riding a wave of support for his policies to rebuild the city from the destruction of Hurricane Katrina. But his African-American challengers have said Landrieu, the white scion of one of the state's pre-eminent Democratic political families, has not done enough to help the poor in the predominantly black city. His main challenger is state court Judge Michael Bagneris, who had been executive counsel to former Mayor Ernest "Dutch" Morial and is well-known among the African American political establishment. Full Story | Top |
| White House says Keystone decision to come only after careful review Friday, Jan 31, 2014 06:54 PM PST  The White House said late on Friday that a decision on the Keystone XL pipeline will come only after a careful review of a new environmental impact study from the State Department as well as other comments and information. "A decision on whether the project is in the national interest will be made only after careful consideration of the (State Department environment impact study) and other pertinent information, comments from the public, and views of other agency heads," said Matt Lehrich, a White House spokesman. Full Story | Top |
| Haiti earthquake refugees trade golf course camp for humble homes Friday, Jan 31, 2014 06:48 PM PST  By Amelie Baron PORT-AU-PRINCE (Reuters) - The tents are gone and clean-up crews are grooming the grounds of the Petionville country club golf course, which served as a camp for 60,000 people made homeless by Haiti's devastating 2010 earthquake. The camp, on Haiti's only golf course, closed last week after the refugees were relocated, according to J/P Haitian Relief Organization, the group co-founded by actor Sean Penn that set up and ran the camp for four years. While the camp's closure marks a milestone in Haiti's recovery from the earthquake that killed more than 200,000 people, J/P HRO said this week that its work in Haiti was far from over. "We are continuing to build and rehabilitate homes so people can return to their neighborhoods," said Gary Philoctete, director of Haiti Operations for J/P HRO. Full Story | Top |
| Detroit files lawsuit seeking to void pension debt Friday, Jan 31, 2014 06:47 PM PST  Detroit on Friday filed a lawsuit in U.S. bankruptcy court seeking to invalidate $1.44 billion of debt sold to fund public worker pensions - a move that also could void the ill-fated interest-rate swaps contracts that were a factor leading Detroit into bankruptcy. The lawsuit contends the city and its retirement systems violated Michigan law when they set up "sham" service corporations and funding trusts to facilitate the debt sales in 2005 and 2006. Detroit in its lawsuit said the pension debt was "nothing more" than a borrowing by the city, and it violated borrowing limits imposed on Detroit by the state of Michigan. In the suit, Detroit asked bankruptcy judge Steven Rhodes to issue a judgment declaring the city is not obligated to continue making payments on the so-called pension certificates of participation (COPs). Full Story | Top |
| Canada strips former publisher Conrad Black of honors Friday, Jan 31, 2014 06:42 PM PST  Canada has canceled two prestigious honors for Conrad Black, who once ran a newspaper empire stretching from the Chicago Sun-Times to Britain's Daily Telegraph and the Jerusalem Post but who ended up in U.S. prison for fraud. The government on Friday terminated his appointment as an officer of the Order of Canada, which recognizes a lifetime of high achievement and merit. It also removed him from the Queen's Privy Council for Canada, ostensibly a group of cabinet ministers and other prominent Canadians appointed to advise Queen Elizabeth, Canada's head of state, though for distinguished individuals outside of the cabinet it is mainly a mark of honor. He was found guilty in 2007 of scheming with business partner David Radler and other executives to siphon off millions of dollars from the sale of newspapers as they unwound Hollinger International. Full Story | Top |
| Waxman retirement ignites scramble for California congressional seat Friday, Jan 31, 2014 06:38 PM PST  By Steve Gorman LOS ANGELES (Reuters) - Two prominent Southern California Democrats - a state senator and a former Los Angeles controller - have jumped into the race to fill a congressional seat being vacated by the retirement of veteran U.S. Representative Henry Waxman. "It's going to be a cast of thousands," said Garry South, a longtime California Democratic strategist, noting that while the district has been reconfigured several times, Waxman held the seat for 40 years before retiring at age 74, and that Congress has no term limits. Ted Lieu, whose state Senate district covers more than 80 percent of the 33rd California congressional district represented by Waxman and who touts his humble roots as a Taiwanese immigrant, announced his candidacy on Friday. Full Story | Top |
| Wisconsin Governor Walker outpaces Democrat challenger in fundraising Friday, Jan 31, 2014 06:37 PM PST  By Brendan O'Brien MILWAUKEE (Reuters) - Wisconsin Republican Governor Scott Walker flexed his fundraising muscle in 2013, building a campaign war chest more than triple the size of Democrat gubernatorial candidate Mary Burke, finance reports filed on Friday showed. At the end of 2013, Walker's campaign had $4.6 million, according to the reports filed with the state, compared with the $1.3 million Burke's campaign said it had in its coffers on December 31. A victory in the governor's race in November could thrust Walker further into the national political spotlight where he could emerge as a top-tier candidate for president in 2016. Burke is the daughter of the founder of bicycle manufacturer Trek, based in Wisconsin. Full Story | Top |
| Former Boy Scout leaders charged for toppling ancient rock in Utah Friday, Jan 31, 2014 06:07 PM PST Two former Boy Scouts of America leaders who touched off worldwide outrage by toppling a 170-million-year-old rock formation at a Utah state park last year were charged on Friday with felony criminal mischief. A video of the incident posted on YouTube in October showed Glenn Taylor dislodging a massive boulder from its spindly rock pedestal in Goblin Valley State Park, as fellow scout leader David Hall filmed him while laughing and singing. Taylor, 45, is charged with felony criminal mischief and Hall, 42, faces one count of felony aiding and assisting in criminal mischief, Director of Utah State Parks Fred Hayes said in a statement. Full Story | Top |
| Man with rifle, machete arrested for threatening ex-President Bush Friday, Jan 31, 2014 05:57 PM PST  By Joseph Ax NEW YORK (Reuters) - A New York man sitting in a car that had a loaded rifle, machete and a container of gasoline was charged on Friday with threatening to kill George W. Bush after professing a romantic interest in the former president's oldest daughter, prosecutors said. Benjamin Smith, 44, of upstate New York was arrested in Manhattan by the U.S. Secret Service, according to a criminal complaint filed in federal court. "Bush will get his," Smith screamed as he was taken into custody, according to the complaint. Later, when asked about his marital status, he told agents he was divorced and "working on a relationship with Barbara Bush." At a preliminary hearing, Assistant U.S. Attorney Andrea Griswold told U.S. Magistrate Judge Henry Pitman the government believes Smith was referring to the former president's daughter and not Bush's mother, who shares the same name. Full Story | Top |
| California college to offer non-approved meningitis vaccine Friday, Jan 31, 2014 05:44 PM PST By Sharon Bernstein SACRAMENTO, California (Reuters) - Students at a California public university where meningococcal disease broke out in the fall will be offered a vaccine not approved for use in the United States, public health officials said on Friday. The outbreak, which resulted in a student having his feet amputated, is similar to the one that struck eight students at Princeton University in New Jersey, where students won approval to use the same foreign vaccine in the fall. Bexsero, made by the Swiss pharmaceutical company Novartis AG, is the only vaccine to protect against serotype B of the meningococcal bacteria, which can attack the nervous system as meningitis or cause a deadly blood condition. California health officials sought access to the vaccine for the Santa Barbara students in December amid renewed concern about meningococcal disease, which is highly contagious among people who live in close quarters, such as college students. Full Story | Top |
| Two Obamacare exchanges see more health insurer competition Friday, Jan 31, 2014 05:36 PM PST  By David Morgan WASHINGTON (Reuters) - At least two U.S. states running their own Obamacare health insurance exchanges expect new insurers to enter their marketplaces and bolster competition in 2015, officials said on Friday. Kynect, which is Kentucky's marketplace, and the Rhode Island Health Benefits Exchange have had separate talks about 2015 with health insurers that could opt to join the online marketplaces set up under President Barack Obama's healthcare reform law. Kentucky also expects an expansion of physician networks available within current plans. Increased competition would increase consumer choices and tend to put downward pressure on health insurance cost trends. Full Story | Top |
| Four more men charged in shooting death of South Carolina student Friday, Jan 31, 2014 05:33 PM PST Four more men have been charged by South Carolina State Police in connection with the murder of a 20-year-old South Carolina State University student, one of 10 school shootings this month. Darius Frazier and Raymone Sinclair Reed, both 23, Kevin Alonzo Winningham, 22, and Shannon Deandre Davis, 27, were arrested on Thursday and charged on Friday as accessories after the fact of murder, police Lieutenant Wayne Wood said on Friday. Police had already charged Justin Bernard Singleton, a 19-year-old sophomore at the same college, with shooting Brandon Robinson in the neck while the two were arguing outside a residence hall on January 24. Full Story | Top |
| Quebec town mourns blaze victims as probe reaches critical stage Friday, Jan 31, 2014 05:32 PM PST  By Louise Egan L'ISLE-VERTE, Quebec (Reuters) - Investigators sifting through the charred debris at a Quebec home for senior citizens may have found the spot where the fire started, police said on Friday, as the grief-stricken town prepared for a special ceremony for the victims on Saturday that will include Prime Minister Stephen Harper. Thirty-two elderly residents are presumed dead after a fire ripped through the three-story building early on January 23 in the tiny town of L'Isle-Verte on the south shore of the St. Lawrence River, about 230 km (143 miles) northeast of Quebec City. It was the second calamity to hit a small Quebec town in the past seven months. Quebec police spokesman Michel Brunet said the search crews halted their work on Friday morning after finding what they believe could potentially be important evidence for the probe into the cause of the fire. Full Story | Top |
| Reward of $100,000 offered for return of stolen Stradivarius violin Friday, Jan 31, 2014 05:32 PM PST By Brendan O'Brien MILWAUKEE (Reuters) - An anonymous donor on Friday offered to pay a $100,000 reward for information leading to the safe return of a Stradivarius worth millions of dollars stolen from a Wisconsin concert violinist, the Milwaukee Symphony Orchestra said. The 300-year-old Stradivarius was stolen from violinist Frank Almond on Monday night by thieves who shot the musician with an electric stun gun after he had completed a performance with the instrument in suburban Milwaukee. "We are hopeful that this reward will aid in the recovery of this priceless treasure so that it may be enjoyed by Milwaukee's cultural community and the international arts world for years to come," Mark Niehaus, the orchestra's president and executive director, said in a statement. The donor, who wishes to remain anonymous, is offering the $100,000 to anyone who can provide information that results in the safe return of the stolen Stradivarius, an orchestra spokeswoman said. Full Story | Top |
| Court approves Bank of America's $8.5 billion mortgage deal Friday, Jan 31, 2014 05:17 PM PST  By Karen Freifeld NEW YORK (Reuters) - A New York state judge on Friday approved most of Bank of America Corp's $8.5 billion settlement with investors over toxic mortgage securities, but left a caveat that could complicate the bank's efforts to implement the deal. Justice Barbara Kapnick ruled that Bank of New York Mellon , the trustee representing investors, had acted mostly in good faith in agreeing to the settlement. But she withheld her approval for one part of the settlement where she said the trustee had not acted reasonably. A spokesman for Bank of America said the bank did not expect that Kapnick's exclusion would hold up the accord. Full Story | Top |
| Exclusive: South Sudan rebel leader says government derailing peace talks Friday, Jan 31, 2014 05:16 PM PST  By Goran Tomasevic JONGLEI STATE, South Sudan (Reuters) - South Sudan rebel leader Riek Machar accused the government on Friday of ethnic cleansing and trying to sabotage peace talks, in his first face-to-face interview since fighting erupted late last year in Africa's youngest nation. Dressed in dark green military fatigues and speaking to Reuters in his bush hideout, Machar branded President Salva Kiir a discredited leader who had lost the people's trust and should resign. "Salva Kiir has committed atrocities in Juba, he has engaged in ethnic cleansing and he is still involved in the process," Machar said. His comments highlighted the gulf between the sides, who are meant to resume their troubled peace talks in Ethiopia next week. Full Story | Top |
| Ukraine president signs amnesty but anger remains, currency slumps Friday, Jan 31, 2014 05:11 PM PST  By Richard Balmforth KIEV (Reuters) - Ukraine's embattled President Viktor Yanukovich on Friday signed into law an amnesty for demonstrators detained during mass unrest and repealed anti-protest legislation, in a fresh bid to take the heat out of the political crisis. But the move by Yanukovich, which demonstrated he remains politically active despite going on sick leave on Thursday, was not likely to be enough to end the sometimes violent anti-government protests on the streets of Kiev and other cities. And TV coverage of a prominent opposition activist showing marks of torture inflicted by mystery kidnappers - along with reports police tried to arrest the man in hospital - fuelled anger that has become so explosive that the army made a rare statement, calling for urgent moves to ease the tension. Many protesters rejected Yanukovich's amnesty outright, because it is conditional on occupied buildings being cleared of activists, and a radical Ukrainian nationalist group behind much of the violence pressed new tough demands on Friday. Full Story | Top |
| Furor over student-lunch grab in Utah school district Friday, Jan 31, 2014 05:09 PM PST By Jennifer Dobner SALT LAKE CITY (Reuters) - A school district in Utah has suspended two people and opened an investigation after lunchroom workers touched off a furor by snatching food trays from several dozen children whose parents were behind on meal payments, a district spokesman said on Friday. Cafeteria workers handed out the lunches on Tuesday at an elementary school in Salt Lake City, but then seized and tossed out the meals after realizing the children's accounts had not been paid, district officials said. The incident at Uintah Elementary School has enraged parents, sparked a social media frenzy and drawn the attention of lawmakers, who say they will consider whether state legislative action is needed. "This was an unfortunate attempt by the district to humiliate kids so they would go home and tell their parents and the account problems would be remedied." The Salt Lake City School District posted a written apology on its Facebook page, saying the situation "could have and should have been handled" differently. Full Story | Top |
| Bieber friend rapper Lil Za charged with drug possession Friday, Jan 31, 2014 05:07 PM PST A friend of Justin Bieber's has been charged with drug crimes in connection with a raid on the teen pop star's home this month, the Los Angeles County District Attorney's office said on Friday. Xavier Smith, 20, better known as rapper Lil Za, was charged with possession of MDMA and oxycodone and vandalizing the Los Angeles County Sheriff's jail where he was held, said Ricardo Santiago, a spokesman for the district attorney. Smith was arrested on January 14 during a Sheriff's Department raid on Bieber's home in Calabasas, about 30 miles northeast of Los Angeles. He is due to be arraigned in Los Angeles on February 4. Full Story | Top |
| Pentagon to further study four possible East Coast missile defense sites Friday, Jan 31, 2014 04:46 PM PST By Andrea Shalal-Esa WASHINGTON (Reuters) - The U.S. Defense Department said on Friday it would conduct environmental impact studies for four possible missile defense sites in the eastern United States but stressed it had not yet decided to proceed with construction. Congress, worried about Iran's efforts to develop intercontinental ballistic missiles, is urging the Pentagon to commit to an East Coast site. Defense officials say current interceptors on the West Coast can defend the country against possible missile attacks, and an extra interceptor site would add enormous costs to a military budget already under pressure. Still, Pentagon officials are proceeding with the environmental impact study required under a directive in the 2013 defense authorization bill. Full Story | Top |
| Florida police find marijuana plants growing in empty swimming pool Friday, Jan 31, 2014 04:19 PM PST  By Zachary Fagenson MIAMI (Reuters) - Police who found five pounds of pot during a routine traffic stop searched the motorists' house and followed the scent to an empty backyard swimming pool where 82 marijuana plants were growing beneath a thick slab of concrete, officials said on Friday. On January 23 police smelled marijuana after they stopped two of the men, Valexy Quintero-Consuegra, 37, and Marley Torres-Denis, 27, in a Range Rover for not wearing seat-belts, according to an arrest affidavit. Police said they "detected a strong odor of marijuana" and found a hidden trap door leading to the plants beneath the pool. Indoor marijuana farms called "grow houses" are more prevalent in Florida than any other U.S. state, with 540 uncovered by law enforcement in the state in 2012, according to the Drug Enforcement Administration. Full Story | Top |
| Christie issues denial as 'Bridgegate' scandal flares up anew Friday, Jan 31, 2014 04:14 PM PST By Edith Honan and Chris Francescani NEW YORK (Reuters) - A former New Jersey official on Friday claimed Governor Chris Christie knew about politically motivated traffic jams as they happened, re-igniting a political scandal that has taken a toll on the prominent Republican. The letter from a former official at the agency that oversees the busiest U.S. bridge sparked a quick response from Christie, who again denied wrongdoing, and prompted a top New Jersey newspaper to suggest the governor could face impeachment. David Wildstein, who resigned his Port Authority post late last year, said in a letter that he had proof of the "inaccuracy" of some of Christie's statements about the so-called "Bridgegate" scandal, which polls show has already started to weigh on Christie's potential 2016 White House bid. Since the scandal first came to light, Christie has denied knowing the cause of the George Washington Bridge lane closings, which occurred after the mayor of Fort Lee declined to endorse the governor in a re-election bid and caused four days of massive traffic jams in that city. Full Story | Top |
| U.S. retailer Michaels warns of possible payment card breach Friday, Jan 31, 2014 03:49 PM PST By Jim Finkle BOSTON (Reuters) - Michaels Companies Inc, the biggest U.S. arts and crafts retailer, said it is investigating a possible security breach on its payment card network and advised customers to check their financial statements for fraudulent activity. If confirmed, it would mark the second known data breach since 2011 at Michaels, which is preparing to sell shares in an initial public offering. "We are concerned there may have been a data security attack on Michaels that may have affected our customers' payment card information," Michaels Chief Executive Chuck Rubin said in a statement on Saturday. Full Story | Top |
| Montana Catholic diocese files for bankruptcy in abuse settlement Friday, Jan 31, 2014 03:47 PM PST A Montana Roman Catholic diocese filed for bankruptcy on Friday as part of a proposed $17.5 million settlement with hundreds of adults alleging childhood sexual abuse by its priests, nuns and lay workers, a church spokesman said. The Helena diocese, serving an estimated 44,500 Catholics in 57 parishes and 38 missions in western Montana, is the eleventh U.S. diocese to file for Chapter 11 bankruptcy reorganization since 2004 because of liabilities linked to child abuse cases. It also would set aside an additional $2.5 million for future claims and to cover legal costs, said Helena diocese spokesman Dan Bartleson. "We don't really have any reserves," Bartleson said, adding that bankruptcy protection would help facilitate the payouts to abuse survivors. Full Story | Top |
| Detroit sues retirement funds to void pension debt Friday, Jan 31, 2014 03:34 PM PST  (Reuters) - Detroit on Friday sued its two retirement systems in U.S. Bankruptcy Court, seeking to invalidate $1.45 billion of debt sold in 2005 and 2006 to fund public worker pensions, according to a court filing. Those other contracts would include the city's deals with investment banks to hedge interest rate risk on some of the pension debt. The deals soured as interest rates dropped along with Detroit's credit ratings. The money owed to the banks was a key element that drove Detroit to file for municipal bankruptcy in July. Full Story | Top |
| Pension, bondholder cuts at core of Detroit plan Friday, Jan 31, 2014 03:28 PM PST By Bernie Woodall DETROIT (Reuters) - Detroit has circulated a financial plan that requires significant concessions from its pension funds and bondholders and declares that an interest-rate obligation that helped drive the city into bankruptcy is a disputed claim that is not part of the settlement. The proposals, described in a copy of the plan obtained by Reuters on Friday, are a major step in Detroit's historic bankruptcy case, a blueprint for how Emergency Manager Kevyn Orr proposes to treat more than $18 billion in debt and long-term liabilities. After months of negotiations with creditors, it essentially sets terms for what could be a settlement of claims and could put pressure on Detroit's thousands of creditors to accept the proposed deal or face costly litigation. The ultimate resolution of the bankruptcy will rely on Detroit restructuring its debt, bringing in contributions from philanthropic foundations and the state of Michigan, offloading some of its obligations to a new regional water authority, and issuing about $1.36 billion in new debt. Full Story | Top |
| In teen star transition, Bieber may want to emulate Miley Friday, Jan 31, 2014 03:26 PM PST  By Eric Kelsey LOS ANGELES (Reuters) - A role model for troubled teen star Justin Bieber could be, believe it or not, provocative songstress Miley Cyrus. Bieber, who racked up charges in two cities in the span of a week, would be wise to use Cyrus as his guide to navigate the transition from teen pop stardom to a serious adult career, branding and celebrity crisis experts said. Should the 19-year-old Canadian fail to chart a new music-focused course soon, he could go the way of actress Lindsay Lohan and countless other young stars who rose to fame only to have promising careers come unhinged by their personal lives. "The hardest, hardest transition to make is from teen idol to working performer with an ongoing career," said Howard Bragman, vice chairman of online personal branding website Reputation.com. Full Story | Top |
| Exclusive: Obama considering Citi's Sheets for senior Treasury post - sources Friday, Jan 31, 2014 03:26 PM PST  By Jason Lange WASHINGTON (Reuters) - The Obama administration is considering nominating Citigroup economist Nathan Sheets to be the Treasury Department's top official for international affairs, according to two sources familiar with the matter. If nominated and confirmed by the Senate, Sheets would be a key figure in U.S. financial and economic diplomacy and would help lead international discussions on the global economy. As the Treasury's undersecretary for international affairs, Sheets would have to field questions from emerging market nations whose markets are reeling from a dramatic reversal of money flows tied partly to the U.S. Federal Reserve's decision to curtail its economic stimulus. He would also get an earful from developing countries frustrated by U.S. intransigence in following through on a promise to give emerging economies a bigger say at the International Monetary Fund. Full Story | Top |
| Ohio sheriff indicted for theft, money laundering Friday, Jan 31, 2014 03:18 PM PST By Kim Palmer CLEVELAND (Reuters) - An Ohio county sheriff was indicted on Friday on corruption charges, including stealing copper wire that was sold for scrap and using public money to pay for his personal meals and clothes, state prosecutors said. Patrick Kelly is the sheriff of Athens County in southeast Ohio, home of Ohio University. The charges include theft in office, money laundering and obstruction of justice, the state attorney general's office said. Kelly was not charged with the assault, however, "but once we got into the case it was evident there was a lot more to it," said Ohio Attorney General Mike DeWine at a news conference on Friday. Full Story | Top |
| Businessman testifies ex-New Orleans mayor took bribes for favors Friday, Jan 31, 2014 03:16 PM PST  By Kathy Finn NEW ORLEANS (Reuters) - A Louisiana businessman and a former city hall insider told a federal court on Friday they repeatedly bribed then-New Orleans Mayor C. Ray Nagin to win contracts from the city as it recovered from Hurricane Katrina. He said he brought several of his previous business associates on as contractors to help develop technology systems for the city and quickly began accepting payments from another contractor in exchange for giving him city business. Full Story | Top |
| U.S. IRS chief says no delay in tax-dodger law; some have doubts Friday, Jan 31, 2014 03:05 PM PST  By Patrick Temple-West WASHINGTON (Reuters) - The chief of the U.S. Internal Revenue Service said on Friday that a new law meant to fight offshore tax dodging by Americans will not be delayed again beyond its July 1 effective date, despite a clamor among banks asking for more time and guidance. "We're not going to have any delays," IRS Commissioner John Koskinen told reporters on a conference call. His remarks came five months before the United States must start enforcing the Foreign Account Tax Compliance Act (FATCA). Foreign businesses that do not comply with the law can be effectively frozen out of U.S. capital markets because of a 30-percent withholding tax on U.S. source income. Full Story | Top |
| N.J.'s Christie denies prior knowledge of bridge lane closings Friday, Jan 31, 2014 03:01 PM PST New Jersey Governor Chris Christie on Friday said that a letter from a former Port Authority official confirmed he had no prior knowledge of the bridge traffic jam that sparked a political scandal. Full Story | Top |
| U.N. appoints former NYC Mayor Bloomberg cities, climate change envoy Friday, Jan 31, 2014 03:01 PM PST  By Michelle Nichols UNITED NATIONS (Reuters) - U.N. Secretary-General Ban Ki-moon on Friday appointed former New York City Mayor Michael Bloomberg as his special envoy for cities and climate change, in a bid to build momentum ahead of a planned U.N. summit meeting in September. Ban said Bloomberg will assist him in "consultations with mayors and related key stakeholders, in order to raise political will and mobilize action among cities as part of his long-term strategy to advance efforts on climate change." Ban is seeking to re-energize the global climate change debate and boost the United Nations' role. The U.N. role for Bloomberg - a billionaire philanthropist who left office last month - was reported by Reuters on Thursday. Full Story | Top |
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