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| One dead, six injured after SUV plows into line outside California ice cream shop Friday, Apr 25, 2014 09:20 PM PDT (Reuters) - An elderly woman was struck and killed and six others were injured on Friday when an SUV plowed into customers standing outside a southern California ice cream shop, authorities said. The crash occurred outside of Farrell's Ice Cream Parlour and Restaurant in Buena Park, California on Friday afternoon, Orange County Fire Authority Captain Ben Gonzales said. The car was driven by an elderly man who was leaving the restaurant, according to Los Angeles news outlet KTLA 5. Multiple calls to a spokesman for the Buena Park Police Department were not immediately returned. Full Story | Top |
| Boy who raised alarm on doomed Korean ferry had no time to call parents Friday, Apr 25, 2014 08:58 PM PDT  Choi called the emergency 119 number which put him through to the fire service, which in turn forwarded him to the coastguard two minutes later. That was followed by about 20 other calls from children to the emergency number, a fire service officer told Reuters. More than 300 people, most of them students and teachers from one high school on a field trip, have died or are missing and presumed dead. "If only he had been wearing a life jacket, I wouldn't be this heartbroken... He didn't have time to call his mum and dad... He reported it to 911 (emergency number) and he's back now. Full Story | Top |
| Senior JPMorgan deal maker Elliott to retire in June Friday, Apr 25, 2014 07:27 PM PDT  (Reuters) - JPMorgan Chase & Co's global chairman of investment banking and veteran deal maker James Elliott will retire in June, according to an internal memo seen by Reuters. Elliott, who has worked on several prominent deals during his 35-year career, will leave the firm to spend more time on his ranch in Texas, Jeff Urwin, JPMorgan's co-head of global banking wrote in the memo obtained from JPMorgan by Reuters. Elliot joined JPMorgan in 1997 as a senior member of the mergers and acquisitions department. Full Story | Top |
| U.S. wins $1.2 million penalty against bank for aiding payday loans Friday, Apr 25, 2014 07:04 PM PDT (Reuters) - A U.S. court on Friday ordered North Carolina's Four Oaks Bank to pay a penalty of $1.2 million over claims it failed to protect consumers' bank accounts in a win for federal prosecutors investigating banks doing business with payday lenders. The civil penalty was the result of a complaint filed in January in U.S. District Court in eastern North Carolina that said the bank had been "deliberately ignorant" when dealing with merchants who were defrauding customers. In their complaint, U.S. prosecutors alleged Four Oaks Bank allowed a privately owned third-party payment processor in Texas to illegally process around $2.4 billion in return for more than $850,000 in fees. Almost all of the Texas processor's business was with Internet payday lenders, the complaint said. Full Story | Top |
| Japan, U.S. tiptoe into new phase of Pacific trade talks Friday, Apr 25, 2014 06:58 PM PDT  By Krista Hughes WASHINGTON (Reuters) - The United States and Japan are edging into a new phase of trade negotiations after U.S. President Barack Obama and Japanese Prime Minister Shinzo Abe's summit, people with knowledge of talks to create one of the world's biggest trade pacts said. Talks on the Trans-Pacific Partnership, a 12-nation bloc which would span 40 percent of the world economy and extend from Asia to Latin America, have been deadlocked as the United States and Japan stared off over farm and auto exports. Briefing reporters on the president's plane from Japan, a senior U.S. official said negotiators set the parameters for agreement on Japan's sensitive sugar, beef, pork, rice, dairy and wheat sectors, involving which trade barriers to eliminate, which to reduce, and over which time period. "There are these parameters, and there are trade-offs among parameters. Full Story | Top |
| Senegal's ex-president Wade returns ahead of son's graft trial Friday, Apr 25, 2014 06:55 PM PDT  By Diadie Ba DAKAR (Reuters) - Senegal's former President Abdoulaye Wade returned to the West African country late on Friday amid tight security at the airport, two days later than planned due to flight problems that his party blamed on the government of successor Macky Sall. Wade's return was delayed after his hired jet was stuck in Morocco, prompting accusations from the opposition Senegalese Democratic Party (PDS) that the flight had been refused permission to land in Dakar on Wednesday. A government spokesman denied that authorization for Wade's jet to land had been refused, saying no request had been received ahead of time. His son Karim faces corruption charges. Full Story | Top |
| Native burial site in California paved over for development Friday, Apr 25, 2014 06:51 PM PDT By Mary Papenfuss SAN FRANCISCO (Reuters) - A significant Native American archeological site in the San Francisco Bay Area has been paved over to make way for a housing complex, roiling the relationship among scientists, developers and Native Americans over disposition of human remains and artifacts. The site contained hundreds of human burials, bear and other animal bones, stone tools, weapons, musical instruments, idols and beads, and a ritual condor. "There are very few sites like this left in the Bay area," said Jelmer Eerkens, a professor at the University of California at Davis who specializes in archeology. Once the artifacts were discovered, developer Larkspur Land 8 Owner LLC was required by the California Environmental Quality Act to call in scientists to study the site under monitoring by Native Americans. Full Story | Top |
| Detroit retirees committee reports deal on pensions, healthcare Friday, Apr 25, 2014 06:34 PM PDT  A committee created by a U.S. bankruptcy court to represent Detroit's retired workers said on Friday it reached an agreement in principle with the city over pensions and healthcare. The agreement, subject to documentation, would permit the committee to support Detroit's plan to adjust $18 billion of debt and exit the biggest municipal bankruptcy in U.S. history, according to a statement issued by Dentons, the committee's law firm. Sam Alberts, a Dentons attorney, said pension cuts agreed to by Detroit's two retirement systems could be significantly restored under certain circumstances. Last week, the board of Detroit's Police and Fire Retirement System accepted a deal that would result in no pension cuts for public safety workers but would reduce cost of living adjustments (COLAs) to 1 percent. Full Story | Top |
| Senior official in China's Qinghai faces corruption probe Friday, Apr 25, 2014 06:32 PM PDT China is investigating a senior official in western Qinghai province for graft, the ruling Communist Party's corruption watchdog said late on Friday, making him the latest target in a crackdown on corruption. Mao Xiaobing - the party secretary of Xining, the capital of Qinghai - is "suspected of serious discipline violations" and is being investigated, the Central Commission for Discipline Inspection (CCDI) said in a one-line statement on its website. It gave no further details but in China the term discipline violations is generally used to denote corruption. President Xi Jinping has said endemic corruption threatens the party's very survival and has vowed to go after high-flying "tigers" as well as lowly "flies". Full Story | Top |
| Bird strike forces plane to return to Seattle airport Friday, Apr 25, 2014 06:21 PM PDT (Reuters) - The pilot of an Alaska Airlines plane was forced to turn back to a Seattle airport soon after takeoff on Friday because the twin-engine propeller aircraft struck a large bird that pierced its aluminum nose, an airline official said. The bird strike left a medium-sized hole in the nose of the Bombardier Q400 plane, which had just taken off from Seattle-Tacoma International Airport en route to Bozeman, Montana, said Alaska Airlines spokesman Paul McElroy. Full Story | Top |
| Western intelligence suggests Syria can still produce chemical arms Friday, Apr 25, 2014 06:13 PM PDT  By Louis Charbonneau UNITED NATIONS (Reuters) - Syria maintains an ability to deploy chemical weapons, diplomats say, citing intelligence from Britain, France and the United States that could strengthen allegations Syria's military recently used chlorine gas in its bloody civil war. The comments reflect a growing conviction among Western capitals that President Bashar al-Assad has failed to come clean about Syria's chemical weapons program despite his promises to end it, and they insist the United States and its allies will resist calls by Assad to shut down a special international chemical disarmament mission set up to deal with Syria. Full Story | Top |
| Exclusive: Morgan Stanley makes 'riding the calendar' less lucrative for brokers Friday, Apr 25, 2014 05:18 PM PDT  By Lauren Tara LaCapra NEW YORK (Reuters) - Wary of brokers who make their money by "riding the calendar" of new stock and bond issues rather than patiently building the firm's wealth management business, Morgan Stanley is cracking down where it hurts the most: compensation. Since April 1, Morgan Stanley Wealth Management financial advisers have seen their compensation cut by as much as 50 percent on sales of new issues to clients who use the firm primarily to get allocations of those securities. Morgan Stanley is hoping that a drastic cut in this kind of compensation will spur brokers to sell more products, such as mutual funds, loans and financial planning services, to those clients, according to several Morgan Stanley advisers. Full Story | Top |
| Chevron wins a round in U.S. suit against lawyer in Ecuador case Friday, Apr 25, 2014 05:15 PM PDT  By Mica Rosenberg NEW YORK (Reuters) - A federal judge on Friday rejected a bid by a U.S. lawyer to stall the enforcement of a ruling that found he used fraud to secure a $9.5 billion pollution judgment against Chevron Corp in Ecuador. Lawyer Steven Donziger is appealing a 500-page decision issued by U.S. District Judge Lewis Kaplan in March that barred him from collecting on a $9.5 billion judgment against Chevron in the United States. Chevron filed a lawsuit against Donziger in New York, claiming he used bribery and fake evidence to win the historic damage award for a group of villagers who claimed the oil giant polluted an area of northeastern Ecuador. Donziger had asked Kaplan to put the decision on hold while a federal appeals court considers the merits of his challenge, a process that will likely take months to resolve. Full Story | Top |
| Justin Bieber allegedly celebrates egg pelting in security video Friday, Apr 25, 2014 04:48 PM PDT  Home surveillance footage appears to show pop singer Justin Bieber celebrating and laughing with friends after allegedly pelting a neighbor's home with eggs in January, according to an affidavit filed by the Los Angeles County Sheriff. Bieber, 20, has not been charged with a crime in the case, but if he were, it could complicate the pop star's other current legal proceedings in Miami and Toronto. Bieber's residence in Calabasas, California, north of Los Angeles was searched by authorities on January 14 in the vandalism case and the affidavit was filed last month to obtain a search warrant for the singer's Instagram photo-sharing account. The affidavit, released on Friday, said Bieber is observed to be "high-fiving" with a group of males and "Bieber and the other males appeared to be laughing and celebrating," the affidavit said. Full Story | Top |
| U.S. airline union takes aim at regionals, not JetBlue Friday, Apr 25, 2014 04:24 PM PDT  By Alwyn Scott NEW YORK (Reuters) - At the end of a week that saw the top U.S. airline pilots' union win a ringing victory at JetBlue Airways , the union's head showed his willingness to offer both a carrot and a stick in future dealings with the industry. Air Line Pilots Association President Lee Moak sounded a conciliatory note at discount carrier JetBlue, saying the union will be focused on maintaining relations with management and advocating for better airline industry policy in Washington rather than pushing for pay hikes. Coming amid relatively strong U.S. airline earnings, the yes vote by 71 percent of eligible JetBlue pilots had raised questions about whether airline unions were positioning to win back wage and benefits concessions they made over the last decade. JetBlue shares are down 9.6 percent since Monday in a week that also saw the airline post weak quarterly earnings and a Reuters report that its flight attendants would seek to follow suit in holding a vote to unionize. Full Story | Top |
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