Developing

  • U.S. 'Idol' winner shines light on South's Gullah culture

    Reuters - Fri, May 17, 2013

    By Harriet McLeod CHARLESTON, South Carolina (Reuters) - "American Idol" winner Candice Glover, whose powerful voice clinched the title of the popular TV singing show, comes from a sea island culture made up of descendants of West African slaves. "I speak another language," she said during the Fox TV show. "It's called Geechee." Some 14.2 million TV viewers tuned in to watch Glover beat Kree Harrison to win the season 12 "American Idol" crown on Thursday. Glover, 23, is a native of rural St. Helena Island in the coastal South Carolina Lowcountry. ... More »U.S. 'Idol' winner shines light on South's Gullah culture

  • Jewels stolen in Cannes, Chopard says not for stars

    Reuters - Fri, May 17, 2013

    CANNES, France (Reuters) - Chopard jewellery worth $1.4 million (922.5 thousand pounds) intended to adorn movie stars at the Cannes film festival has been stolen, a police source said on Friday, but the company said the value had been exaggerated and the items were not for actresses to use. According to the source, who declined to be named because he was not authorised to discuss the case with the press, the jewels were in the safe of a room rented by an employee of the luxury jeweller, which is also a Cannes sponsor. ... More »Jewels stolen in Cannes, Chopard says not for stars

  • Protesting Bulgarian drivers block truck traffic to Turkey

    Reuters - Fri, May 17, 2013

    SOFIA (Reuters) - Disgruntled Bulgarian truck drivers blocked traffic at two major border checkpoints with neighbouring Turkey on Friday to protest against what they said were Turkish restrictions to their operations. Among those caught up in the blockade, now in its second day, was British band Depeche Mode, which was forced to cancel its concert in Istanbul on Friday because trucks carrying equipment from Bulgaria could not get through. A queue 12 km long had built up at the main Kapitan Andreevo crossing and another around 5.5 km long at the Lesovo checkpoint. ... More »Protesting Bulgarian drivers block truck traffic to Turkey

  • Bloomberg appoints former IBM chief to advise on data issues

    Reuters - Fri, May 17, 2013

    By Jennifer Saba NEW YORK (Reuters) - Bloomberg LP appointed former IBM Chairman and CEO Samuel Palmisano as an independent adviser on security and data issues, as the company seeks to address customers' concerns about possible breaches in the confidentiality of their usage data. The news and financial data company said on Friday that Palmisano will report to its board of directors and he will immediately undertake a review of current policies for client data and end-user information. ... More »Bloomberg appoints former IBM chief to advise on data issues

  • Hunt for those at fault for Spain's bank crisis gains pace

    Reuters - Fri, May 17, 2013

    By Sarah White and Paul Day MADRID (Reuters) - The arrest of a prominent former Spanish banker is raising hopes among campaigners that the hunt for those responsible for the problems inherited by Bankia and other failed lenders will deliver results. As Spaniards struggle with a deep recession, judges have shown a growing determination to go after top executives and public figures linked to bank failures that led to a 41 billion euros (34 billion pounds) European bailout. ... More »Hunt for those at fault for Spain's bank crisis gains pace

  • Italy PM Letta seeks to smooth property tax standoff

    Reuters - Fri, May 17, 2013

    By Giuseppe Fonte ROME (Reuters) - Italian Prime Minister Enrico Letta promised a wide reform of property taxes on Friday, addressing one of the main issues dividing his coalition government, but gave no details on where he would find the billions of euros to pay for it. He confirmed pledges to suspend the widely hated IMU tax on principal residences brought in by his predecessor Mario Monti but held back from the demands of centre right members of his fragile left-right coalition for it to be scrapped entirely. ... More »Italy PM Letta seeks to smooth property tax standoff

  • Fox's 'American Idol' brings in record low TV audience

    Reuters - Fri, May 17, 2013

    LOS ANGELES (Reuters) - The number of Americans who watched vocal powerhouse Candice Glover win the "American Idol" title sank to 14.2 million, a decline of 31 percent from last year's record low, according to ratings data on Friday. The singing competition, now in Season 12, was once a TV industry juggernaut for Fox that brought in more than 30 million viewers for its finale in the peak years of 2006 and 2007. On Thursday night, it was the second most-watched program on U.S. television, beat out by the season finale of CBS comedy "The Big Bang Theory" with 14.8 million viewers. ... More »Fox's 'American Idol' brings in record low TV audience

  • Boxing boss CK Wu to run for IOC president

    Reuters - Fri, May 17, 2013

    By Karolos Grohmann (Reuters) - International Boxing Federation (AIBA) President C.K. Wu has decided to run for the post of the president of the International Olympic Committee as the race for one of the world's top sports jobs heats up, a source said. "Dr Wu handed over a letter this morning to Dr (Jacques) Rogge, informing him about his candidacy. He will announce it officially next Thursday," a source told Reuters. ... More »Boxing boss CK Wu to run for IOC president

  • Saudi Arabia says hackers sabotage government websites

    Reuters - Fri, May 17, 2013

    RIYADH (Reuters) - Several government websites in Saudi Arabia were sabotaged in a series of heavy cyber attacks from abroad in recent days, disabling them briefly until the attacks were repelled, the government said. An investigation traced the "coordinated and simultaneous attacks" to hundreds of Internet protocol addresses in a number of countries, an unnamed source at the Saudi Interior Ministry told state news agency SPA. ... More »Saudi Arabia says hackers sabotage government websites

  • U.S. authorities seize accounts of major Bitcoin operator

    Reuters - Fri, May 17, 2013

    By Brett Wolf ST. LOUIS, May 17 (Thomson Reuters Accelus) - U.S. authorities have seized two accounts linked to a major operator in the booming Bitcoin digital currency market, Tokyo-based exchange Mt. Gox. The move may prevent the firm from facilitating the purchase and sale of Bitcoins in U.S. dollars at a time when use of the currency and its value has mushroomed. Bitcoin, which unlike conventional money is bought and sold on a peer-to-peer network independent of any central authority, has grown popular among users who lack faith in the established banking system. ... More »U.S. authorities seize accounts of major Bitcoin operator

  • Upgrade crowns Turkey's peaceful rise but pitfalls loom

    Reuters - Fri, May 17, 2013

    By Paul Taylor PARIS (Reuters) - Turkey's achievement of investment-grade status crowns a decade of rapid growth, financial stability and political reform by a "tiger" economy on the seam of Europe and Asia, but the rising power still faces pitfalls in a dangerous neighbourhood. Moody's Investors Service raised its rating on Ankara's sovereign bonds to Baa3, or investment grade, from Ba1 late on Thursday, following in the footsteps of Fitch credit ratings agency, which took that step last November. ... More »Upgrade crowns Turkey's peaceful rise but pitfalls loom

  • Banks lift FTSE to 5.5-year highs

    Reuters - Fri, May 17, 2013

    By Alistair Smout LONDON (Reuters) - The FTSE top share index hit fresh five and a half year highs on Friday, as banks were buoyed by an upgrade, the prospect of the end of state ownership in the sector and rotation out of defensive stocks. The FTSE 100 closed up 35.26 points, or 0.5 percent, at 6,723.06, just 0.1 percent off October 2008's closing high and marking the index's fourth successive week of gains. Banks combined to add 18 points to the index, benefitting from an upgrade by UBS and led up by Lloyds and RBS. ... More »Banks lift FTSE to 5.5-year highs

  • Canada to target U.S. products in meat labels dispute

    Reuters - Fri, May 17, 2013

    By Rod Nickel WINNIPEG, Manitoba (Reuters) - Canada will put forward a list of U.S. products that it will target in retaliation over a dispute with its largest trading partner about country of origin labels on meat, Agriculture Minister Gerry Ritz said on Friday. The dispute stems from a 2009 U.S. requirement that retail outlets label the country of origin for meat and other products, in an effort to give U.S. consumers more information about their food. Canada and Mexico complained that the rule caused a decline in U.S. ... More »Canada to target U.S. products in meat labels dispute

  • Canadian astronaut wrestles with gravity after spaceflight

    Reuters - Fri, May 17, 2013

    By Irene Klotz CAPE CANAVERAL, Florida (Reuters) - Back on Earth, Canadian astronaut and cyberspace tweeter Chris Hadfield is getting a rough re-introduction to gravity after a five-month stint aboard the International Space Station, the former commander told reporters during a video webcast from Houston. Hadfield became a social media rock star with his zero-gravity version of David Bowie's "Space Oddity" and a continuous stream of commentary on Twitter about his life in orbit. But living without gravity for five months has left him feeling dizzy, weak and prematurely aged. ... More »Canadian astronaut wrestles with gravity after spaceflight

  • Bankers see M&A recovery after deals drop 7 pct so far in 2013

    Reuters - Fri, May 17, 2013

    By Anjuli Davies LONDON (Reuters) - A drop in European takeovers has depressed global merger and acquisitions (M&A) activity so far this year, but bankers see activity picking up as a rally in stocks and bonds helps compensate for a prolonged euro-zone recession. The volume of takeovers worldwide has dropped 7 percent year to date to $750 billion (494 billion pounds), with the week to Thursday marking the slowest week for acquisitions this year, Thomson Reuters data showed on Friday. ... More »Bankers see M&A recovery after deals drop 7 pct so far in 2013

  • Outgoing IRS chief admits scandal-exposing question was planted

    Reuters - Fri, May 17, 2013

    WASHINGTON (Reuters) - The outgoing head of the Internal Revenue Service acknowledged on Friday that the tax agency planned its initial disclosure about having targeted conservative groups through a planted question at a lawyers' conference. Acting IRS Commissioner Steven Miller told lawmakers during a Capitol Hill hearing that the question-and-answer session that exposed the tax agency's targeting of conservative groups for extra scrutiny had been carefully planned. ... More »Outgoing IRS chief admits scandal-exposing question was planted

  • Swiss propose corporate tax reforms after EU pressure

    Reuters - Fri, May 17, 2013

    By Caroline Copley BERNE (Reuters) - Switzerland outlined plans on Friday to reform the way it taxes companies as it seeks to counter criticism from Brussels while trying to remain attractive to the many multinationals based in the country. The Swiss have lured thousands of foreign companies including online retailer eBay and trading giant Glencore by taxing foreign profits at a lower rate than domestic earnings, a practice known as "ring fencing". ... More »Swiss propose corporate tax reforms after EU pressure

  • Risks for Cyprus are "unusually high", adoption of austerity plan imperative - IMF

    Reuters - Fri, May 17, 2013

    By Michele Kambas NICOSIA (Reuters) - The IMF said on Friday that risks for Cyprus were "unusually high" given its weak banking sector and economy and the island's full adoption of an economic austerity plan was imperative. The island's 17.5 billion euro economy faced risks from the uncertain impact of the crisis in its banking sector and the possibility that its economic contraction could be deeper than projected, the IMF said in a staff report. "Given substantial risks to the outlook and debt sustainability, there is no room for implementation slippages," it said. ... More »Risks for Cyprus are "unusually high", adoption of austerity plan imperative - IMF

  • Clash between Russian oil chiefs could undercut Putin ally

    Reuters - Fri, May 17, 2013

    By Olesya Astakhova and Douglas Busvine MOSCOW (Reuters) - A rare public clash between two leading figures in Russia's state-dominated oil industry hints at a split in President Vladimir Putin's inner circle and could be intended to rein in one of his closest advisers. Igor Sechin, who has built oil company Rosneft into the world's largest with Putin's help, has pushed for an expansion of a pipeline "spur" to take more oil to China, a profitable alternative market to Europe where demand is falling. ... More »Clash between Russian oil chiefs could undercut Putin ally

  • Iranian director's taut family saga rivets critics at Cannes

    Reuters - Fri, May 17, 2013

    By Alexandria Sage CANNES (Reuters) - Oscar-winning Iranian director Asghar Farhadi premiered his latest tightly wound family drama at Cannes on Friday, confirming critics' advance buzz it would prove a contender for the film festival's top prize. The prestigious festival on the French Riviera - where the sun finally emerged on day three - is looking to spot its Palme d'Or winner among the 20 entries in the main competition and early reviews were enthusiastic for "Le Passe" ("The Past"). ... More »Iranian director's taut family saga rivets critics at Cannes

  • Outgoing U.S. IRS chief apologizes for 'foolish mistakes'

    Reuters - Fri, May 17, 2013

    WASHINGTON (Reuters) - The outgoing head of the Internal Revenue Service apologized on Friday for "foolish mistakes" made at the U.S. tax agency which he said resulted from a heavy workload, not a partisan mission. At a congressional hearing, acting IRS Commissioner Steven Miller said he did not find political motivation among the employees who were processing conservative groups' applications for tax-exempt status. Miller was fired on Wednesday as President Barack Obama sought to stem criticism over IRS targeting of conservative groups for special scrutiny. ... More »Outgoing U.S. IRS chief apologizes for 'foolish mistakes'

  • At least 20 killed when mine collapses in eastern Congo

    Reuters - Fri, May 17, 2013

    KINSHASA (Reuters) - At least 20 people were killed when a mine collapsed in mineral-rich but conflict-plagued eastern Democratic Republic of Congo following heavy rains, the government said on Friday. The accident occurred on Thursday at the mine near the village of Rubaye in the country's North Kivu province. Local officials were attempting to recover bodies still believed buried on Friday. "We're still digging at the site, so the death toll could rise. The provincial government is handling the rescue," government spokesman Lambert Mende told Reuters. ... More »At least 20 killed when mine collapses in eastern Congo

  • Greek PM hails "Greekovery" replacing "Grexit"

    Reuters - Fri, May 17, 2013

    ATHENS (Reuters) - Greek Prime Minister Antonis Samaras has hailed kinder words from lenders and revived interest in the country's deeply-discounted bonds and stocks as a "Greekovery" to replace last year's "Grexit" catchphrase. Although there is little sign of economic recovery, Greece is finally attracting some of the cheap funds that are being pumped out by major central banks and feeding an investment boom on stock and bond markets. ... More »Greek PM hails "Greekovery" replacing "Grexit"

  • Brussels, Berlin lukewarm on Hollande's euro zone vision

    Reuters - Fri, May 17, 2013

    By Luke Baker BRUSSELS (Reuters) - European officials gave a lukewarm response to French President Francois Hollande's sweeping proposals for deeper euro zone integration on Friday, noting that many of his ideas were already in circulation. In a 2-1/2-hour news conference at the Elysee Palace on Thursday, Hollande set out plans for an "economic government" for the 17 euro zone countries, including its own budget and a full-time president. ... More »Brussels, Berlin lukewarm on Hollande's euro zone vision

  • Bulgarian president calls parliament quickly to end impasse

    Reuters - Fri, May 17, 2013

    By Tsvetelia Tsolova SOFIA (Reuters) - Bulgarian President Rosen Plevneliev will convene parliament on May 21, in an attempt to have a government formed quickly and end a political impasse in the European Union's poorest country. Under Bulgarian law, the president must call the assembly within a month of an election. Only then can he ask the largest group - centre-right GERB - to try to form a government. The election on May 12 produced a deeply divided parliament and all other parties are refusing to work with GERB. ... More »Bulgarian president calls parliament quickly to end impasse

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