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| 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 |
| Kerry to visit Ethiopia, Congo and Angola next week Friday, Apr 25, 2014 05:51 PM PDT  U.S. Secretary of State John Kerry will travel to Ethiopia, the Democratic Republic of Congo and Angola from April 29 to May 5 to promote democracy and human rights, the State Department said on Friday. Kerry will meet with Ethiopian Prime Minister Hailemariam Desalegn and Foreign Minister Tedros Adhanom in Addis Ababa to discuss peace efforts in the region and strengthen ties with Ethiopia, State Department spokeswoman Jen Psaki said in a statement. Full Story | Top |
| Justin Bieber's Miami trial pushed back to July Friday, Apr 25, 2014 04:48 PM PDT By Zachary Fagenson MIAMI (Reuters) - A Miami judge on Wednesday agreed to delay pop star Justin Bieber's trial until July 7 on charges stemming from the Canadian singer's January arrest when he was caught allegedly drag racing on Miami Beach. The trial was set to begin May 5, but lawyers for Bieber argued that more time may be needed to hear potential pre-trial motions. "If the case goes ahead there are some motions that would require evidence," said Bieber's defense lawyer Roy Black. "There are some serious matters regarding the test," he added, referring to evidence that Bieber was driving under the influence of drugs and alcohol. Full Story | Top |
| Saudi Arabia says MERS virus cases top 300, 5 more die Friday, Apr 25, 2014 03:34 PM PDT Saudi Arabia said on Friday it had discovered 14 more cases of the potentially deadly Middle East Respiratory Syndrome (MERS) in the kingdom, bringing the total number to 313. A health ministry statement said the new cases had been reported in the capital Riyadh, the coastal city of Jeddah and the "holy capital" Mecca in the past 24 hours. The jump in cases is of particular concern because Saudi Arabia will host pilgrims from around the world in July during the Muslim month of Ramadan, as well as in early October when millions of worshippers perform the annual Haj. In total, 92 people have died of MERS in Saudi Arabia, the ministry said on its website. Full Story | Top |
| Two key IRS executives in Obamacare rollout to retire: memo Friday, Apr 25, 2014 03:16 PM PDT  (Reuters) - Two senior Internal Revenue Service executives who were instrumental in the rollout of President Barack Obama's new healthcare law are retiring, according to an internal IRS memorandum obtained by Reuters on Friday. Sarah Hall Ingram will step down at the end of April and James Taylor by the end of May, said the memo sent to IRS staff on behalf of IRS Commissioner John Koskinen. Taylor has been senior director of Affordable Care Act operations and Ingram, director of services and enforcement in the Affordable Care Act (ACA) office. ... Full Story | Top |
| Oregon's broken healthcare exchange to shift to federal network Friday, Apr 25, 2014 03:07 PM PDT By Shelby Sebens PORTLAND, Oregon (Reuters) - Oregon, whose health insurance network has been dogged by technical glitches that have prevented even a single subscriber from enrolling online, will move its state health exchange to the federal system, officials said on Friday. A state that fully embraced the Affordable Care Act, Oregon endured one of the rockiest rollouts of President Barack Obama's healthcare law, requiring tens of thousands of applicants to use paper forms since launching on October 1. Managers of the state exchange, Cover Oregon, determined it would cost about $78 million to fix the beleaguered exchange, well above the projected cost of switching over to the federal system. On Friday, the Cover Oregon Board of Directors voted unanimously to accept a recommendation by a technology advisory group to shift the private insurance side of the program to the federal exchange. Full Story | Top |
| GE in talks to buy Alstom's power arm: sources Friday, Apr 25, 2014 02:51 PM PDT  By Benjamin Mallet and Matthieu Protard PARIS (Reuters) - U.S. industrial conglomerate General Electric Co is in advanced talks to buy the global power division of struggling French engineering group Alstom SA for about $13 billion, sources familiar with the matter said on Friday. Sources said a deal was backed by Alstom's main shareholder, French conglomerate Bouygues with 29 percent, and could be announced in the coming days after an Alstom board meeting on Friday afternoon. "It would be a very big asset sale, enclosing the entire energy business." Alstom Chief Executive Patrick Kron confirmed to union representatives there were talks about an "industrial deal," but did not name GE. Alstom, Bouygues and General Electric declined to comment. Full Story | Top |
| Boy in Pennsylvania school stabbing spree left note about plans Friday, Apr 25, 2014 02:15 PM PDT  By Elizabeth Daley PITTSBURGH, Pennsylvania (Reuters) - The 16-year-old boy who stabbed 21 people at his Pennsylvania high school was charged on Friday with as many counts of attempted homicide, as court documents revealed his note describing the "helpless looks" he hoped to see on his victims' faces. The April 6 note was quoted in an affidavit filed at the second arraignment of Alex Hribal, who previously faced four charges of attempted homicide for his stabbing spree on April 9 at Franklin Regional High School in Murrysville near Pittsburgh. "I can't wait to see the priceless and helpless looks on the faces of the students of one of the 'best schools in Pennsylvania' (when they) realize their precious lives are going to be taken by the only one among them that isn't a plebeian," the note said, according to the affidavit obtained by Reuters. Patrick Thomassey, a lawyer for Hribal, who has previously said the sophomore student was "remorseful" after the attack, did not respond to requests for comment on Friday. Full Story | Top |
| Energy stocks weigh on TSX; oil driller's shares slump Friday, Apr 25, 2014 02:14 PM PDT  By Alastair Sharp TORONTO (Reuters) - Canada's main stock index slipped on Friday, with energy companies among the leading weights as driller Canadian Oil Sands said unexpected maintenance could hurt its output. The energy sector in Canada has performed well in recent weeks, seemingly boosted by the geopolitical tensions in Ukraine that could limit the availability of Russian commodity exports to Western markets. "The overall scare of the conflict is really weighing on the market," said Marcus Xu, a portfolio manager at MY Capital Management Corp in Vancouver. But the Canadian market seems to be holding up pretty well." The Toronto Stock Exchange's S&P/TSX composite index ended the day down 20.68 points, or 0.14 percent, at 14,533.57. Full Story | Top |
| Wall Street trips as Amazon tumbles; indexes slip for week Friday, Apr 25, 2014 02:03 PM PDT  By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks dropped on Friday, pulled lower by a selloff in consumer discretionary stocks as bellwether names Amazon.com and Ford Motor fell in the wake of their quarterly earnings. Amazon was the S&P 500's worst performer, down 9.9 percent to $303.83, and other high-flying sectors dropped along with it. Social media names slid, with Twitter losing 7.1 percent to $41.61, and the Nasdaq Biotechnology Index falling 2.4 percent as investors once again shied away from riskier sectors. Amazon's stock declined a day after the company reported a jump in quarterly revenue, which was offset by sharp increases in spending. Full Story | Top |
| Cholesterol drug users may use pills as a license to overeat Friday, Apr 25, 2014 01:31 PM PDT By Andrew M. Seaman NEW YORK (Reuters Health) - People who take the common cholesterol-lowering drugs known as statins may feel a false sense of security and eat a bit more, according to a new study. Researchers found that U.S. adults taking statins in 1999-2000 were eating fewer calories than people not taking the drugs, but statin users were eating about the same amount as non-users by 2009-2010. "We believe that physicians need to reemphasize the importance of a healthy lifestyle to statin-users," Dr. Takehiro Sugiyama told Reuters Health in an email. Eating excess calories and fat would not only compromise the cholesterol-lowering effect of statins, he said. Full Story | Top |
| U.S. military suicides fall among active duty, rise in reserves Friday, Apr 25, 2014 01:28 PM PDT  Suicides among active duty U.S. forces fell 18 percent in 2013 from a peak in 2012 but climbed among reserve forces, the Pentagon said on Friday as it unveiled figures showing suicide still far outpaced combat deaths among U.S. military personnel. Still, the trends for active duty and reserve forces were consistent with previously disclosed estimates. The decline in overall active-duty suicides compares with a far sharper decline in hostile deaths among troops overseas as the United States winds down the war in Afghanistan. Full Story | Top |
| Hiking at any altitude may benefit men with cardio risk factors Friday, Apr 25, 2014 12:56 PM PDT By Shereen Jegtvig NEW YORK (Reuters Health) - Just three weeks of exercise and a healthy diet produced positive changes in middle-aged men with a cluster of heart risk factors known as metabolic syndrome, according to a new study from Austria. "The data of the AMAS-2000 study proved that daily hiking for hours at any altitude provides cardiovascular benefits and represents an excellent therapeutic opportunity for physical and mental regeneration even for individuals with a cluster of cardiovascular risk factors," Dr. Guenther Neumayr told Reuters Health in an email. Metabolic syndrome is a cluster of characteristics, including abdominal obesity, high cholesterol and triglycerides, high blood sugar and elevated blood pressure. People with metabolic syndrome are at greater risk for cardiovascular disease and diabetes. Full Story | Top |
| BMI linked to breast cancer risk after menopause Friday, Apr 25, 2014 12:50 PM PDT By Allison Bond NEW YORK (Reuters Health) - Overall body size, rather than shape, is a better indicator of breast cancer risk after menopause, according to a recent study. The analysis of U.S. women contradicts past research suggesting that having an apple shape with a large midriff measurement, regardless of weight or body mass index (BMI), might signal greater breast cancer risk. "When we looked at both BMI and waist size, we found that BMI explained the relationship (with breast cancer risk), and that the waist circumference had little effect," said Mia Gaudet, an American Cancer Society epidemiologist who led the new study. Having a BMI in the obese range (30 or greater) has also been linked to breast cancer risk up to twice that of women in the normal weight range (BMIs of 25 or less, in this study). Full Story | Top |
| GE's energy financing profits could double by 2020 Friday, Apr 25, 2014 12:03 PM PDT  By Ernest Scheyder NEW YORK (Reuters) - General Electric Co expects annual profit from energy investments to double to nearly $800 million by 2020, highlighting the conglomerate's desire to remain a financing powerhouse for industry even as it slims its credit card portfolio. Chief Executive Officer Jeff Immelt has made energy sector growth a key part of his plan to return the company to its manufacturing roots, adding oilfield pumps, wind turbines and similar products to the portfolio in recent years. "This is a business that the GE board wants to grow," David Nason, head of the GE Energy Financial Services unit, said in an interview on Thursday. "It's not tied into the overall shrinking story of GE Capital. Full Story | Top |
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