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| Boeing Black: This smartphone will self-destruct.. Wednesday, Feb 26, 2014 08:10 PM PST  By Alwyn Scott NEW YORK (Reuters) - Boeing Co on Wednesday unveiled a smartphone that appears to come straight from a James Bond spy movie. In addition to encrypting calls, any attempt to open the casing of the Boeing Black Smartphone deletes all data and renders the device inoperable. Such a phone might have prevented damage to Washington's diplomacy in Ukraine from a leaked telephone call. A senior U.S. State Department officer and the ambassador to Ukraine apparently used unencrypted cellphones for a call about political developments in Ukraine that became public. Full Story | Top |
| U.S. Attorney subpoenaed Mt. Gox, other bitcoin businesses: source Wednesday, Feb 26, 2014 08:00 PM PST  By Emily Flitter NEW YORK (Reuters) - Manhattan U.S. Attorney Preet Bharara has sent subpoenas to Mt. Gox, other bitcoin exchanges, and businesses that deal in bitcoin to seek information on how they handled recent cyber attacks, a source familiar with the probe said on Wednesday. At least three exchanges were forced to halt withdrawals of bitcoins on February 7, including Mt. Gox, which was the largest at the time. Mt. Gox never resumed service before going dormant on Tuesday, leaving customers unable to recover their funds. "As there is a lot of speculation regarding Mt Gox and its future, I would like to use this opportunity to reassure everyone that I am still in Japan, and working very hard with the support of different parties to find a solution to our recent issues," Karpeles said in a statement posted on the Mt. Gox website. Full Story | Top |
| Detroit mayor promises more jobs, less blight for bankrupt city Wednesday, Feb 26, 2014 07:44 PM PST  By Rachel Jackson DETROIT (Reuters) - Nearly two months into his tenure as Detroit mayor, Mike Duggan outlined a plan for adding jobs and removing abandoned buildings in the bankrupt city during his first state of the city address Wednesday night. The mayor's speech came just days after a state-appointed emergency manager filed his roadmap in federal court for dealing with the city's debt and investing in its future. Duggan, seeking to find an agenda of his own while operating in the shadow of Emergency Manager Kevyn Orr, is doing what he can with the bankrupt city's limited resources to make headway on some of its most visible problems: decreasing urban blight and creating safe neighborhoods. Full Story | Top |
| Green group fights sand dump permit near Australia's Barrier Reef Wednesday, Feb 26, 2014 07:40 PM PST Environmentalists launched an appeal on Thursday to overturn a permit granted for an Australian coal port to dump millions of cubic meters of sand near the Great Barrier Reef, arguing it fails to protect the World Heritage site. An independent agency charged with protecting the reef granted a permit in January for 3 million cubic meters of soil dredged up at the port of Abbot Point to be dumped about 25 km (15 miles) from the reef. The approval by the Great Barrier Reef Marine Park Authority (GBRMPA) sparked outrage among green groups opposed to coal expansions and fighting to protect the reef, as well as marine tourism operators, who help generate $5 billion a year. The North Queensland Conservation Council filed a challenge to the permit at the Administrative Appeals Tribunal in Brisbane on Thursday. Full Story | Top |
| Asian shares soft as Ukraine dampens risk sentiment Wednesday, Feb 26, 2014 07:20 PM PST  By Hideyuki Sano TOKYO (Reuters) - Asian shares struggled to find a solid footing on Thursday as escalating tensions in Ukraine sent investors scurrying to the safety of the dollar and U.S. Treasuries. Wall Street's failure to extend its rally above historical highs on Wednesday did not help soothe the anxiety that a wider conflagration in Ukraine could lead to more risk aversion and damage vulnerable emerging markets. Russian President Vladimir Putin ordered drills by his armed forces to test combat readiness in western Russia, near the border with Ukraine, prompting Washington to warn a military intervention would be a "grave mistake. The Ukrainian hryvnia hit record lows on Wednesday after Ukraine's central bank said it was abandoning a managed exchange rate policy. Full Story | Top |
| Bank of America disputes $2.1 billion claim in U.S. fraud suit Wednesday, Feb 26, 2014 06:38 PM PST  By Jessica Dye NEW YORK (Reuters) - Bank of America Corp said it does not owe the U.S. government the $2.1 billion it is seeking in penalties after a jury found the bank liable for fraud over defective mortgages sold by its Countrywide unit, according to a court filing made on Wednesday. Bank of America said in the filing that it should only have to pay the amount it made in profit from selling the loans, which it contended was zero. A spokesperson for Bank of America could not be reached for comment Wednesday evening. A federal jury in New York in October found Bank of America and Rebecca Mairone, a former mid-level executive at Countrywide, each liable for fraud in the civil lawsuit. Full Story | Top |
| Singer Loretta Lynn puts out small house fire, prepares for tour Wednesday, Feb 26, 2014 06:36 PM PST  By Tim Ghianni NASHVILLE, Tennessee (Reuters) - Country singer Loretta Lynn suffered minor burns on her hands putting out a small fire at her ranch near Nashville, but the incident will not keep the coal miner's daughter from performing in Texas on Friday, a representative said. Lynn, 81, snuffed a small fire on Tuesday in the sun room of her home in Hurricane Mills, Tennessee, which is about an hour's drive west of Nashville, Will Rourk, manager at the Loretta Lynn Ranch, told the Tennessean newspaper. Rourk told The Tennessean Lynn was watching television when she heard a crackling sound and smelled smoke in another room. Full Story | Top |
| Hillary Clinton defends Obamacare, but open to changes: report Wednesday, Feb 26, 2014 06:27 PM PST  Hillary Clinton, who leads the pack of potential Democratic 2016 presidential contenders, defended Obamacare on Wednesday but added she was open to "evidence-based changes" in the program, CNN reported. President Barack Obama's signature healthcare reform law is shaping up as a hot-button campaign issue in congressional elections in November and possibly the 2016 White House race. The law, which seeks to extend health coverage to millions of uninsured or underinsured people, has been under steady attack by Republicans, who say it is too costly, kills jobs and robs many Americans of healthcare choices. "But I would be the first to say if things aren't working, then we need people of good faith to come together and make evidence-based changes," said Clinton, who led a failed effort to pass healthcare reform during the administration of her husband, Bill Clinton. Full Story | Top |
| Baidu prepared to grow through further acquisitions in 2014: CEO Wednesday, Feb 26, 2014 05:54 PM PST  BEIJING (Reuters) - Baidu Inc is prepared to grow by making further acquisitions in 2014, Chief Executive Robin Li said on Thursday after the Chinese Internet company reported its fourth quarter earnings. Baidu's aggressive strategy to gain ground on competitors such as Tencent Holdings Ltd and Alibaba Group Holding Ltd has spurred a buying spree. It bought the 91 Wireless app store in August for $1.9 billion and group-buying site Nuomi last month. Baidu saw revenues soar 50.3 percent to 9.52 billion yuan ($1. ... Full Story | Top |
| BP loses bid to block seafood fund payments Wednesday, Feb 26, 2014 05:33 PM PST  A U.S. federal judge on Wednesday denied BP Plc's request to halt payments from the $2.3 billion fund it has created to compensate commercial fishermen for financial losses claimed after the British company's 2010 offshore oil spill, according to court records. BP had sought to block the payments after alleging that some individuals supposedly injured by the spill, clients of attorney Mikal Watts, did not exist. District Judge Carl Barbier in New Orleans, who is overseeing litigation stemming from the spill, denied the motion on Wednesday, according to an entry on the court docket. The judge also granted Watts's motion to stay BP's civil action against him over the alleged fraud pending a related federal criminal investigation. Full Story | Top |
| Shanghai government cracks down on taxi booking apps Wednesday, Feb 26, 2014 05:26 PM PST The Shanghai city government has followed Beijing's lead and moved to restrict the usage of increasingly popular taxi booking apps, putting investments into the technology by foreign and Chinese companies at risk. Taxi booking apps essentially allow customers and drivers to cooperate to break through government price controls on fares to negotiate a market price for transportation. The apps usually allow users to bid for cabs by adding an additional flat fare but they do so at the expense of cab companies that provide dispatch services to the cabbies. It has also resulted in complaints that Shanghai passengers are having increasing difficulty hailing cabs on the street, because many refuse to pick up customers paying normal fares. Full Story | Top |
| Texas judge rules against Lance Armstrong over prize money Wednesday, Feb 26, 2014 05:19 PM PST  By Lisa Maria Garza DALLAS (Reuters) - A Texas judge has denied a request by lawyers for Lance Armstrong to block a sports insurance company from re-opening an arbitration agreement in which the firm paid $12 million in bonuses to the disgraced cyclist. Dallas County Judge Tonya Parker refused to stop the original arbitration panel from considering whether Dallas-based SCA Promotions should be able to recoup the millions it paid Armstrong during his Tour de France winning streak, according to court documents filed on Wednesday. SCA attorney Jeff Tillotson said on Wednesday that the panel is scheduled to meet March 17 to consider his request that Armstrong pay back the millions in prize money because he had denied under oath that his seven championships were fueled by performance-enhancing drugs. The bonus money from SCA is for three of Armstrong's seven Tour de France victories. Full Story | Top |
| Hollywood Oscar campaigns: A civil affair in a wide-open field Wednesday, Feb 26, 2014 05:09 PM PST  "I feel that this year is more exhausting than ever," said Tim Gray, the awards editor at trade publication Variety, noting the number of high-quality films among the best picture nominees. This year, nine films will compete for the best picture Oscar, which will be handed out on March 2 by the Academy of Motion Picture Arts and Sciences in Los Angeles. "I think it works on the supposition, 'Leave no stone unturned,'" he said, noting how stars and directors have been attending screenings and question-and-answer sessions, sometimes more than one per day, to reach some 6,000 Oscar voters. Full Story | Top |
| From bathrooms to museums: odd sets for Oscar statuettes Wednesday, Feb 26, 2014 05:06 PM PST  The most valuable piece of hardware in Hollywood is the 13-and-a-half-inch (34-cm) golden Oscar statuette, so it is no surprise recipients of the top film honors keep theirs in a variety of safe spots. Emma Thompson, a two-time winner for "Howards End" and "Sense and Sensibility," has stowed her Oscars in the bathroom, or rather loo, of her London abode. And it's nice for them to have a go, pick them up." Cate Blanchett, a frontrunner for best actress for her role in "Blue Jasmine" for this Sunday's Academy Awards, has to pay to see her Oscar from "The Aviator." "My Oscar is in a film museum called ACMI (Australian Centre for the Moving Image) in Melbourne," the 44-year-old star said. "I get to pay a ticket and go see it every now and again." Winners of the 2,809 Oscars awarded so far may opt for the more mundane living room, like Charlize Theron for her "Monster" Oscar, or the office, the home for George Clooney's two awards for "Argo" and "Michael Clayton." But Jennifer Hudson created an award wall and put her statuette for "Dreamgirls" in a starring role. Full Story | Top |
| Australia's Qantas cuts 5,000 jobs, sheds aircraft after hefty loss Wednesday, Feb 26, 2014 04:55 PM PST  By Jane Wardell and Lincoln Feast SYDNEY (Reuters) - Australian carrier Qantas Airways Ltd plans to cut 15 percent of its workforce, sell older jets and reduce capital spending after reporting a first-half loss amid growing competition in both international and domestic operations. The deep cuts are part of Qantas' plans to slash costs by A$2 billion ($1.8 billion) over the next three years - a bid by the airline to convince the federal government and investors it is worthy of the state assistance it says it needs. Qantas, known as the 'Flying Kangaroo', is seeking a government debt guarantee to give it access to cheaper capital. Battered by high fuel costs and a strong Australian dollar, its credit rating was relegated to junk status last year amid a price war with arch-rival Virgin Australia Holdings . Full Story | Top |
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