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| Search for MH370 likely to take years: U.S. defense official Thursday, Apr 24, 2014 09:20 PM PDT By Matt Siegel SYDNEY (Reuters) - The search for missing Malaysia Airlines Flight MH370 is likely to drag on for years, a senior U.S. defense official told Reuters on Friday, as an underwater search appeared to have failed in finding any trace of the plane's wreckage. (Reporting by Matt Siegel; Editing by Simon Cameron-Moore) Full Story | Top |
| New report calls U.S. a 'rising star' of global manufacturing Thursday, Apr 24, 2014 09:04 PM PDT  Call it the comeback kid. A new ranking of the competitiveness of the world's top 25 exporting countries says the United States is once again a "rising star" of global manufacturing thanks to falling domestic natural gas prices, rising worker productivity and a lack of upward wage pressure. The report, released on Friday by the Boston Consulting Group (BCG,) found that while China remains the world's No. 1 country in terms of manufacturing competitiveness, its position is "under pressure" as a result of rising labor and transportation costs and lagging productivity growth. The United States, meanwhile, which has lost nearly 7.5 million industrial jobs since employment in the sector peaked in 1979 as manufacturers shipped production to low-cost countries, is now No. 2 in terms of overall competitiveness, BCG said. Full Story | Top |
| Empty spaces mark Korean school tribute for missing ferry victims Thursday, Apr 24, 2014 08:39 PM PDT  By Ju-min Park and James Pearson ANSAN, South Korea/SEOUL (Reuters) - A floral tribute to the children who drowned in a sinking South Korean ferry features photographs of the victims in their school uniforms, while lines of empty spaces wait to be filled with photos once those still missing are confirmed dead. The pictures, flowers and spaces are banked up the entire wall of a gymnasium near Danwon High School in Ansan, on the outskirts of Seoul. "There are too many pictures, way more than I thought," said crying university student Jung Sun-a, 24. "And they are too young in these pictures. ... Full Story | Top |
| Michael Dell to sell gardening firm ValleyCrest to KKR unit: FT Thursday, Apr 24, 2014 08:15 PM PDT  (Reuters) - Dell Inc Chief Executive Michael Dell is likely to sell his corporate gardening company ValleyCrest to KKR & Co LP's Brickman unit, the Financial Times reported. ValleyCrest, owned by Dell's family investment office MSD Capital, is expected to fetch about $1 billion and talks for a deal are understood to be advanced, the daily said. (http://r.reuters.com/beq78v) The deal will allow KKR to merge Brickman, bought for $1.6 billion last November, with ValleyCrest to create United States' largest horticultural management business, the report said. ... Full Story | Top |
| Wal-Mart replaces China CEO in Asia leadership shuffle Thursday, Apr 24, 2014 07:39 PM PDT  U.S. retailer Wal-Mart Stores Inc has appointed a new chief executive for the China region, where the world's largest retailer is battling stiff competition from local rivals. Sean Clarke, a Wal-Mart veteran and current chief operating officer in China, will take over the China CEO role from June 1, a statement from the firm said on Friday. The current China chief executive, Greg Foran, will become Asia CEO. China is key to Wal-Mart's international ambitions but it has stumbled in a market where consumers value safe and authentic food over the low prices the retailer is famed for. Full Story | Top |
| Korea investigators say life rafts not working properly on sunk ferry's sister ship Thursday, Apr 24, 2014 07:26 PM PDT South Korean investigators said on Friday that life rafts and escape chutes on a sister ship to a sunken ferry were not working properly. The Sewol ferry, weighing almost 7,000 tons, sank on a routine trip from the port of Incheon, near Seoul, to the southern holiday island of Jeju. More than 300 people, most of them students and teachers from the Danwon High School near Seoul, are dead or missing presumed dead after the April 16 disaster. Full Story | Top |
| Apple's sales boom in communist Vietnam Thursday, Apr 24, 2014 07:23 PM PDT (This story corrects period for sales in the first paragraph) By Nguyen Phuong Linh HANOI (Reuters) - - Communist Vietnam is suddenly Apple Inc's hottest market after sales there tripled in its fiscal first half, a growth rate five times faster than in India where it is spending heavily in a battle for market share. Vietnam has barely received a mention from Apple executives in their regular briefings for financial analysts. Quarterly iPhone sales more than doubled and the strong growth appears likely to continue given Vietnam's predominantly young, tech-savvy population, rapid growth in internet and mobile phone use and a projected doubling of the middle class by 2020. Full Story | Top |
| Asian shares, dollar struggle on Ukraine anxiety Thursday, Apr 24, 2014 07:20 PM PDT  By Lisa Twaronite TOKYO (Reuters) - Asian stocks struggled on Friday, as fears of an escalating Ukraine crisis eclipsed upbeat U.S. economic data and robust U.S. tech shares. U.S. Secretary of State John Kerry said on Thursday that time was running out for Moscow to change its course in Ukraine. MSCI's broadest index of Asia-Pacific shares outside Japan erased early modest gains and fell 0.3 percent. Japan's Nikkei stock average took an opposite track and added 0.5 percent in choppy trade, after opening solidly lower amid disappointment over a failed attempt to reach a U.S.-Japan trade pact. Full Story | Top |
| HSBC tower could be sold for over 1.1 billion pounds - FT Thursday, Apr 24, 2014 07:11 PM PDT  (Reuters) - London's largest and most expensive office building, HSBC Holding Plc's global headquarters, is up for sale and could fetch over 1.1 billion pounds (1.85 billion) a record price for the British market, the Financial Times reported. The Canary Wharf-based 44-storey, 1.1 million square foot building is being marketed by estate agents JLL and GM Real Estate, according to sources familiar with the matter, the FT said. At the height of the British property boom in 2007, the HSBC tower became the most expensive building in London when it sold for 1.09 billion pounds. The FT said HSBC had a 13-year lease on the building and is committed to annual upward-only inflation-linked rent reviews, citing sources familiar with the tenancy arrangements. Full Story | Top |
| Trip Tips: Brazil's beachless metropolis is a foodie's paradise Thursday, Apr 24, 2014 06:59 PM PDT  By Todd Benson SAO PAULO (Reuters) - If your idea of Brazil is beaches and bikinis, São Paulo is not the place to go. But if you're a seasoned traveler who tends to shun traditional tourism hot spots for urban adventures off the beaten trail, then put Brazil's biggest city on your bucket list. A sprawling metropolitan area of nearly 20 million people, São Paulo is sometimes referred to as the New York of South America. While the comparison may be a bit overstated, Brazil's business capital boasts a rich cultural life and a bar and restaurant scene that rival the world's premier cities. Full Story | Top |
| Exclusive: Apple, Google to pay $324 million to settle conspiracy lawsuit Thursday, Apr 24, 2014 06:49 PM PDT  By Dan Levine SAN FRANCISCO (Reuters) - Four major tech companies including Apple and Google have agreed to pay a total of $324 million to settle a lawsuit accusing them of conspiring to hold down salaries in Silicon Valley, sources familiar with the deal said, just weeks before a high profile trial had been scheduled to begin. Tech workers filed a class action lawsuit against Apple Inc, Google Inc, Intel Inc and Adobe Systems Inc in 2011, alleging they conspired to refrain from soliciting one another's employees in order to avert a salary war. The case has been closely watched due to the potentially high damages award and the opportunity to peek into the world of Silicon Valley's elite. The case was based largely on emails in which Apple's late co-founder Steve Jobs, former Google CEO Eric Schmidt and some of their Silicon Valley rivals hatched plans to avoid poaching each other's prized engineers. Full Story | Top |
| California school bus crash injures driver, 11 children Thursday, Apr 24, 2014 06:09 PM PDT Eleven middle school students and a bus driver were injured on Thursday, three critically, when their bus veered off a Southern California road, authorities said. The bus driver and two of the students from El Rancho Charter School in Anaheim, California, were listed in critical condition at a local hospital, said Bob Dunn of the Anaheim Police Department. Full Story | Top |
| Netflix makes deals to appear on first U.S. cable boxes Thursday, Apr 24, 2014 06:05 PM PDT  By Lisa Richwine and Liana B. Baker LOS ANGELES/NEW YORK (Reuters) - Netflix Inc's streaming video subscription service will be integrated into TiVo Inc set-top boxes for customers of three of the smaller U.S. cable operators, the companies said on Thursday. The deals with Atlantic Broadband, Grande Communications and RCN Telecom Services are the first in the United States to bring Netflix as an app to cable set-top boxes. The arrangements make it easier for consumers to access Netflix movies and TV shows on their television sets because they don't have to switch to another device like an Apple TV or Roku box. Full Story | Top |
| New Microsoft CEO Nadella impresses Wall Street, stresses challenges Thursday, Apr 24, 2014 06:03 PM PDT By Bill Rigby SEATTLE (Reuters) - Microsoft Corp's new chief executive on Thursday won rave reviews for his first public encounter with Wall Street analysts who said he communicated willingness to transform the world's largest software company as it scrambles to catch up in the mobile-computing era. Marking the first time in five years that a Microsoft chief executive joined a quarterly earnings conference call, veteran insider Satya Nadella, who took over the helm on February 4, said his first weeks in the new job were taken up with getting to know the company afresh. He said he is also dealing with the reality of the new tech marketplace in which Microsoft has ceded its market dominance to Apple Inc and Google Inc . "What you can expect of Microsoft is courage in the face of reality; Full Story | Top |
| Exclusive: JetBlue flight attendants seek to hold unionization vote Thursday, Apr 24, 2014 05:59 PM PDT  By Alwyn Scott NEW YORK (Reuters) - Flight attendants at JetBlue Airways are pushing for a vote on whether to unionize, marking a second organizing effort at the formerly non-union airline after pilots authorized joining a union on Tuesday. The flight attendants are working with the Transport Workers Union of America (TWU) to sign authorization cards that would let them hold an election under national labor rules, the TWU told Reuters. "We're getting them in very quickly," Thom McDaniel, a TWU International vice president, said of the cards. Full Story | Top |
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