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| Australia prime minister says search for missing Malaysia plane enters new phase Sunday, Apr 27, 2014 09:29 PM PDT By Matt Siegel SYDNEY (Reuters) - Australian Prime Minister Tony Abbott said on Monday that it was highly unlikely any debris would be found on the ocean surface from a missing Malaysia Airlines jetliner, and that a new phase would now begin during which a much larger area of the ocean floor would be searched. (Reporting by Matt Siegel; Editing by Michael Urquhart) Full Story | Top |
| Asian shares stutter on Ukraine tension, event risk Sunday, Apr 27, 2014 09:24 PM PDT  By Lisa Twaronite TOKYO (Reuters) - Asian shares wavered in choppy trade on Monday after an uninspiring performance on Wall Street and amid increasing tension in Ukraine, which kept risk appetite in check and helped bolster the safe-haven yen. Pro-Russian rebels paraded European monitors they are holding in eastern Ukraine on Sunday, freeing one but saying they had no plans to release another seven as the United States and Europe prepared new sanctions against Moscow. MSCI's broadest index of Asia-Pacific shares outside Japan oscillated between positive and negative territory, and was last trading flat. Japan's Nikkei stock average skidded 1.2 percent, despite data released before the market opened showing retail sales rose in March at their fastest pace in 17 years ahead of a sales tax hike. Full Story | Top |
| U.S. plans to impose new sanctions on Russia this week Sunday, Apr 27, 2014 09:03 PM PDT The United States plans to slap new sanctions on Russia this week that the White House says will target people and companies inside President Vladimir Putin's "inner circle." Washington also plans to impose new restrictions on high-tech exports to Russia's defense industry in a move aimed at punishing Moscow for not living up to an agreement to defuse the situation in eastern Ukraine, where armed pro-Russian separatists seized about a dozen government buildings. The leaders of the Group of Seven (G7) major economies agreed on Saturday to swiftly impose further sanctions on Russia over the Ukraine crisis. Full Story | Top |
| Ukraine rebels free Swedish hostage; Obama seeks unity against Russia Sunday, Apr 27, 2014 09:03 PM PDT  By Matt Spetalnick and Thomas Grove KUALA LUMPUR/SLAVIANSK, Ukraine (Reuters) - Pro-Russian rebels paraded European monitors they are holding in eastern Ukraine on Sunday, freeing one but saying they had no plans to release another seven as the United States and Europe prepared new sanctions against Moscow. U.S. President Barack Obama called for the United States and Europe to join forces to impose stronger measures to restrain Moscow. In a move senior U.S. officials said may come as early as Monday, the White House said it would add names of people close to President Vladimir Putin and firms they control to a list of Russians hit by sanctions over Ukraine, and also impose new restrictions on high-tech exports. Full Story | Top |
| Six confirmed dead in Arkansas after tornado rips through two counties Sunday, Apr 27, 2014 08:52 PM PDT LITTLE ROCK, Arkansas (Reuters) - At least six people were killed on Sunday when a tornado ripped through two Arkansas counties north of Little Rock, authorities said. The fatalities occurred in Faulkner and Pulaski Counties, north of Little Rock, according to law enforcement officials. The governor's office reported that the U.S. National Guard had been dispatched to the scene. (Reporting by Suzi Parker in Little Rock; Writing by Dan Whitcomb) Full Story | Top |
| Housing market recovery spreads further outside London - Hometrack Sunday, Apr 27, 2014 08:47 PM PDT  Britain's housing market recovery spread further beyond London this month as prices rose in more parts of England and Wales outside the capital than at any time over the last decade, a survey showed on Monday. Asking prices for houses in England and Wales rose 0.6 percent in April, the same pace as in March, according to the survey of estate agents and surveyors from Hometrack. The report showed 48 percent of postcode districts outside London reported rising house prices, the highest level since June 2004 and three times as high as a year ago. "Demand continues to grow faster than supply, maintaining the supply/demand imbalance that underpins the upward pressure on house prices," said Richard O'Donnell, director of research at Hometrack. Full Story | Top |
| Obama praises business deals, touts U.S. enterprise Sunday, Apr 27, 2014 08:27 PM PDT  President Barack Obama watched over the signing of three business deals in Malaysia on Monday, using the opportunity to promote U.S. commercial expertise during a four-country swing through Asia. The president has sought during stops in Japan, Korea and Malaysia to bolster the U.S. security commitment to Asia, where a rising China has made many U.S. allies nervous. A hoped for trade pact failed to come to fruition despite round-the-clock negotiations in Japan. Officials said they had made progress that would bring Japan into the 12-country Trans Pacific Partnership (TPP), which commits countries to lower import tariffs and to dropping other impediments to imports. Full Story | Top |
| Bayer may sell plastics unit to focus on health: Bloomberg Sunday, Apr 27, 2014 08:00 PM PDT  (Reuters) - German drugmaker Bayer AG is exploring the sale of its $10 billion plastics unit to focus on growing its health business, Bloomberg reported citing people with knowledge of the matter. Bayer is considering the sale of its MaterialScience division after chemicals company Evonik Industries AG showed interest in the unit several months ago, Bloomberg said, adding that no final decision has been made on the plastics unit. (http://r.reuters. ... Full Story | Top |
| Bill Gates, in Communist newspaper, urges more in China to help poor Sunday, Apr 27, 2014 07:51 PM PDT  Microsoft founder Bill Gates on Monday took to the pages of the People's Daily, the mouthpiece newspaper of China's ruling Communist Party, to encourage people in China to do more for the poor. "China has many successful entrepreneurs and business people. I hope that more people of insight will put their talents to work to improve the lives of poor people in China and around the world, and seek solutions for them," Gates wrote in an editorial. "Investing for the poor requires participation from the entire community." Philanthropy in China has yet to take off, as some wealthy Chinese fear generous donations could invite unwanted attention on their fortunes. Full Story | Top |
| Samsung says number of Galaxy S5s with non-working camera small Sunday, Apr 27, 2014 07:43 PM PDT  Samsung Electronics Co Ltd said the number of its flagship Galaxy S5 smartphones shipped with non-working cameras was "very limited" and that it has taken measures to ensure the issue does not recur in new shipments. Reports of the problem surfaced last week and come less than a month after the phone's global launch, with Samsung banking on the S5 to outdo its predecessor and rebuild momentum for the brand in an increasingly competitive market. "We have discovered that the issue has been seen in a very limited portion of early production Galaxy S5 units, and was caused by complications in the ROM (Read Only Memory) component which stores the information necessary to operate the camera," Samsung said in an e-mailed statement. Customers affected by the S5 camera failure should contact Samsung's customer service or the mobile service provider, she said. Full Story | Top |
| Chinese spies read Australian MPs' emails for a year: report Sunday, Apr 27, 2014 05:05 PM PDT A cyber attack on the Australian parliamentary computer network in 2011 may have given Chinese intelligence agencies access to lawmakers' private emails for an entire year, the Australian Financial Review reported on Monday. Australian officials, like those in the United States and other Western nations, have made cyber security a priority following a growing number of attacks. The parliamentary computer network is a non-classified internal system used by federal lawmakers, their staff and advisers for private communications and discussions of strategy. Last year, the Australian Broadcasting Corporation reported that Chinese hackers had stolen the blueprints of a new multi-million-dollar Australian spy headquarters, as well as confidential information from the Department of Foreign Affairs and Trade. Full Story | Top |
| Online art sales to grow fast, global study finds Sunday, Apr 27, 2014 04:54 PM PDT By Michael Roddy LONDON (Reuters) - The value of the online fine art market is expected to more than double to $3.76 billion in the next five years as it increasingly attracts younger and first-time buyers, British insurer Hiscox said on Monday. Online art sites do not threaten galleries and auction houses in the same way Internet availability has undermined the traditional movie, book and music businesses, Hiscox said. "Young collectors are looking for art work which is easy to buy and available at a wide range of prices," Robert Read, Hiscox's head of fine art, was quoted as saying. "Online art platforms cater for all tastes and budgets, but are particularly effective for those just starting to collect - opening up the art market in a way that is hard to replicate in the real world." London-listed Hiscox, which underwrites cover for oil rigs, kidnappings, fine art and vintage cars, estimated the value of global online art sales at $1.57 billion in 2013. Full Story | Top |
| Clippers players stage protest after owner's alleged racist comments Sunday, Apr 27, 2014 04:51 PM PDT  By Dan Whitcomb LOS ANGELES (Reuters) - Los Angeles Clippers players staged a protest at a playoff game on Sunday against racist comments allegedly made by team owner Donald Sterling, turning their warm-up jerseys inside-out to hide the team name before a loss to the Golden State Warriors. The silent demonstration came as Sterling faced a firestorm of criticism over a 10-minute recording obtained by celebrity news website TMZ in which a man reported to be the NBA owner tells a woman not to post photographs of herself with black people online and not to bring African-Americans to Clippers games. The taped remarks rocked the National Basketball Association (NBA), where most of the players are black, and left its officials scrambling to address the scandal that has threatened to overshadow the playoffs. Ahead of the game against the Golden State Warriors in Oakland, Clippers players gathered at center court, dropped sweat-jackets with the team's name around the tip-off circle and then came out with their warm-up jerseys inside-out, keeping the "Clippers" name off of their chests. Full Story | Top |
| London braced for travel disruption on underground rail workers strike plan Sunday, Apr 27, 2014 04:22 PM PDT By Kylie MacLellan LONDON (Reuters) - Millions of commuters were preparing for transport chaos from Monday evening as workers on the London Underground rail network plan to hold a two-day strike in a dispute over plans to cut jobs and close ticket offices. Eleventh-hour talks will be held on Monday between Transport for London (TfL) and the Rail, Maritime and Transport workers' union (RMT) in a bid to avert the 48-hour walkout due to begin at 2000 GMT, a spokesman for TfL said. The strike action follows the March 11 death of RMT leader Bob Crow, whose success in extracting concessions from employers through hard talk and industrial disruption has set the mould for those vying to replace him, trade union experts say. TfL, which argues that less than three percent of journeys on the 151-year-old tube network now involve passengers using ticket offices, has said it will run a limited service on some lines, with some stations closed. Full Story | Top |
| EU exit could wreck UK financial capital, says City lobby group Sunday, Apr 27, 2014 04:17 PM PDT  By Guy Faulconbridge LONDON (Reuters) - A British exit from the European Union could wreck London's position as the only financial center to rival New York and isolate the country's economy, research ordered by a lobby group for banks and money managers showed. Prime Minister David Cameron has promised to renegotiate the terms of Britain's EU membership and hold an "in-out" referendum by the end of 2017 if his Conservatives win a 2015 national election. TheCityUK, whose members include asset managers, banks, insurance and accountancy firms, warned that Britain outside the EU would be shorn of influence, less attractive to investors and vulnerable to regulations over which London had no influence. "This is yet more powerful evidence that the UK pulling out of the EU is the very last thing our country needs. Full Story | Top |
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