Tag Archives: topNews
S&P cuts Italy one notch, outlook negative
(Reuters) – Standard and Poor’s cut its unsolicited ratings on Italy by one notch, warning of a deteriorating growth outlook and damaging political uncertainty, in a move that took markets by surprise and added to pressure on the debt-stressed euro zon…
SEC probes trading before U.S. rating cut: report
(Reuters) – Securities regulators have sent subpoenas to hedge funds and other trading firms as it probes possible insider trading before the U.S. government’s long-term credit rating was cut last month, the Wall Street Journal said, citing people fami…
Exclusive: Brazil seeks to help Europe via IMF
SAO PAULO (Reuters) – Brazil will propose that it and other large emerging market countries make billions of dollars in new funds available to the International Monetary Fund as a way to help ease the crisis in the euro zone, an official said on Monday…
GM labor deal heads toward UAW vote
DETROIT (Reuters) – About 48,500 General Motors Co workers at U.S. factories will begin considering the details of a proposed four-year contract on Tuesday that represents the first labor deal for the automaker since its 2009 bailout by the Obama admin…
UBS faces dual attack in parliament after loss
ZURICH (Reuters) – The Swiss parliament piled pressure on the nation’s biggest banks on Monday in the wake of UBS AG’s $2.3 billion loss from rogue trading, as a center-left party pushed for a ban on risky investment banking and a plan to raise capital…
Lenders press Greece to shrink state and avoid default
ATHENS (Reuters) – International lenders told Greece on Monday it must shrink its public sector to avoid running out of money within weeks, as investors spooked by political setbacks in Europe dumped risky euro zone assets.
Taiwan renews F-16 request as U.S. defends upgrade
RICHMOND, Virginia (Reuters) – An upgrade of Taiwan’s fleet of F-16s would provide essentially the same quality as new fighter jets, a U.S. government official said on Monday as Taiwan officials renewed a push for the latest model.
Obama offers $3.6 trillion deficit plan, would up taxes
WASHINGTON (Reuters) – President Barack Obama laid out a $3.6 trillion plan on Monday to cut budget deficits partly by raising taxes on the rich, but Republicans rejected it as a political stunt and made clear the proposal had little chance of becoming…
Senate moves toward action on trade deals
WASHINGTON (Reuters) – The Senate began debate on Monday on a bill that waives tariffs on goods from developing countries in a step toward congressional approval of three long-delayed trade deals.
Netflix splits DVD and streaming services
LOS ANGELES (Reuters) – Top video rental company Netflix Inc split off its DVD service to a separate website called Qwikster, setting off another round of complaints from customers already angry at a price increase and sending its shares down 7 percent…
"Don’t Ask, Don’t Tell" for military gays runs out
WASHINGTON (Reuters) – The military’s “Don’t Ask, Don’t Tell” law for gay personnel is slated to run out as scheduled on Tuesday, the armed forces said, ending a 17-year rule fraught with controversy.
Obama offers $3 trillion debt plan, tax hikes on rich
WASHINGTON (Reuters) – President Barack Obama laid out a $3 trillion plan on Monday to cut U.S. deficits by raising taxes on the rich, but Republicans rejected it as a political stunt and made clear the proposal has little chance of becoming law.
"Rage" against Wall Street power clogs sidewalks
NEW YORK (Reuters) – Protesters complaining about the unchecked power of the financial industry staged noisy demonstrations that slowed pedestrian traffic on Wall Street for a third day on Monday, vowing to continue “for as long as it takes” to achieve…
Greece must shrink state to avoid default: lenders
ATHENS (Reuters) – International lenders told Greece on Monday it must shrink its public sector and improve tax collection to avoid running out of money within weeks as investors spooked by political setbacks in Europe dumped risky euro zone assets.
Obama’s Postal Service plan would cut Saturday mail
WASHINGTON (Reuters) – The Obama administration’s plan to rescue the U.S. Postal Service would allow the agency to end Saturday mail delivery and sell non-postal products, according to documents released on Monday.
U.S. spy agencies struggle with post-9/11 languages
WASHINGTON (Reuters) – Despite intense focus on Afghanistan, Pakistan and the Middle East in the last decade, U.S. spy agencies are still lacking in language skills needed to talk to locals, translate intercepted intelligence and analyze data, accordin…
News International to pay $4.7 million to settle hacking
LONDON (Reuters) – News International is expected to pay three million pounds ($4.7 million) to settle hacking claims by the family of murder victim Milly Dowler against Britain’s now defunct News of the World newspaper, sources close to the issue told…
Lawyers sum up latest insider trading trial
NEW YORK (Reuters) – The trial of a former Silicon Valley sales manager accused in the U.S. government’s crackdown on insider trading closed with prosecution and defense arguing over whether he stole information about public companies and shared it ill…
Abbas defiant on U.N. bid as officials scramble on crisis
NEW YORK (Reuters) – President Mahmoud Abbas arrived in New York on Monday vowing to press ahead with plans to seek full U.N. membership for a Palestinian state as officials scrambled to head off a fresh diplomatic crisis in the Middle East.
Norway killer tells court keeping him in isolation is "torture"
OSLO (Reuters) – Norwegian mass killer Anders Behring Breivik complained at a court hearing on Monday that keeping him in solitary confinement in prison was a form of “torture” after a judge ordered that he remains in isolation for another four weeks.