Developing

  • Italy's Monti says Greece will probably keep euro

    Reuters - Thu, May 24, 2012

    ROME (Reuters) - Greece will probably remain in the euro zone, Italian Prime Minister Mario Monti said on Thursday, but demands made of Greece by its partners had been unrealistic and far reaching economic reform could take decades to achieve. "Anything can happen, but I think the most probable outcome is the one which is most positive for Greece and for all of us," Monti said on an Italian television talk show, when asked if he believed Greece would stay in the currency bloc. ... More »Italy's Monti says Greece will probably keep euro

  • Vote counting gets underway in Egypt

    AFP - Thu, May 24, 2012

    Vote counting was underway in Egypt after two days of polling ended Thursday in a landmark presidential election which pitted stability against the ideals of the uprising that ended Hosni Mubarak's rule. More »Vote counting gets underway in Egypt

  • SEC unlikely to file charges in Lehman case - memo

    Reuters - Thu, May 24, 2012

    WASHINGTON (Reuters) - The staff of the U.S. Securities and Exchange Commission has concluded its investigation into Lehman Brothers Holdings and will not likely recommend charges, according to the excerpt of a memo sent to Reuters. The excerpt, which was not dated, was sent along with an anonymous letter to Congress alleging that SEC Chairman Mary Schapiro made inaccurate statements about the agency's Lehman probe during a hearing last month. Schapiro told a House Financial Services panel on April 25 that Lehman "remains under investigation" and "is still under review. ... More »SEC unlikely to file charges in Lehman case - memo

  • Activist Chen urges China to prosecute those who harassed him

    Reuters - Thu, May 24, 2012

    NEW YORK (Reuters) - Blind Chinese activist Chen Guangcheng urged authorities in Beijing on Thursday to prosecute "lawless" local officials who harassed and abused the self-taught lawyer, his family and supporters, saying such prosecutions could help China establish the rule of law. In one of his first interviews since arriving in the United States last Saturday, Chen told Reuters the rough treatment of his family and supporters who helped him escape house arrest last month was "entirely against Chinese law. ... More »Activist Chen urges China to prosecute those who harassed him

  • Talks set with Quebec students after mass arrests

    AFP - Thu, May 24, 2012

    The Quebec government invited student groups Thursday for talks to end a three-month conflict over a planned hike in tuition fees after nearly 700 people were arrested overnight in the Canadian province. More »Talks set with Quebec students after mass arrests

  • Top women on Wall Street - Equal-opportunity axing?

    Reuters - Thu, May 24, 2012

    (Reuters) - The financial crisis and its aftermath have been brutal for Wall Street's richest and most powerful women. The latest casualty: Ina Drew, the head of JPMorgan Chase's chief investment office, who departed last week after the bank suffered mammoth trading losses. An analysis by Reuters of the proxy statements from the five largest U.S. banks shows that of the 25 executives whose pay is disclosed - updated for some recent changes - only three, or 12 percent, are women. That's down from five, or 20 percent, at the end of 2007. ... More »Top women on Wall Street - Equal-opportunity axing?

  • USTR Kirk plans to go in January, upbeat on EU-US trade

    Reuters - Thu, May 24, 2012

    PARIS (Reuters) - U.S. Trade Representative Ron Kirk said on Wednesday that he expects to leave office at the end of President Barack Obama's first term, and also expressed enthusiasm about the potential for a trade agreement between the United States and the EU to boost jobs and growth on both sides of the Atlantic. ... More »USTR Kirk plans to go in January, upbeat on EU-US trade

  • Iran, big powers agree to hold more nuclear talks in June

    Reuters - Thu, May 24, 2012

    BAGHDAD (Reuters) - Iran and world powers agreed to meet again in Moscow next month for more talks to try to end the long-running dispute over Tehran's nuclear programme, but there was scant progress to resolve the main sticking points between the two sides. At the heart of the dispute is Iran's insistence that it has the right to enrich uranium and that economic sanctions should be lifted before it stops activities that could lead to its achieving the capability to make nuclear weapons. Western powers insist Tehran must first shut down enrichment activities before sanctions can be eased. ... More »Iran, big powers agree to hold more nuclear talks in June

  • PM Angry At Euro Summit's Failure To Agree

    Sky News - Thu, May 24, 2012

    A summit of European leaders has ended without clear agreement on how best to restore confidence in the euro, despite pleas from the British PM to get a grip on the crisis. More »PM Angry At Euro Summit's Failure To Agree

  • Vatican bank sacks president in no-confidence vote

    Reuters - Thu, May 24, 2012

    VATICAN CITY (Reuters) - The president of the Vatican bank has been ousted by the board of directors, the Vatican said on Thursday, blaming him for a deterioration in standards of governance. The board unanimously passed a no-confidence vote in Italian Ettore Gotti Tedeschi for failing to carry out "various fundamentally important functions of his office", the Vatican statement said. ... More »Vatican bank sacks president in no-confidence vote

  • Brotherhood make claims as Egypt polls close

    Reuters - Thu, May 24, 2012

    CAIRO (Reuters) - Millions of Egyptians, choosing their leader freely for the first time in their history, voted on Thursday with the Muslim Brotherhood saying their candidate had an early lead over fellow Islamists and rivals who served ousted President Hosni Mubarak. Counting started after polls closed at 9 p.m. (08:00 p.m. British time) with no reliable exit polls available. The Brotherhood said on its television channel that its candidate Mohamed Mursi was ahead based on the tally from some districts. ... More »Brotherhood make claims as Egypt polls close

  • 'Grexit' holds risks for Wall Street, Washington

    AFP - Thu, May 24, 2012

    For two years Washington and Wall Street have been bracing for Greece's eurozone exit, but despite the preparations, fears remain that an "X factor" could slap around the world's largest economy. More »'Grexit' holds risks for Wall Street, Washington

  • UK appointed pro-Murdoch minister to News Corp bid

    Reuters - Thu, May 24, 2012

    LONDON (Reuters) - Prime Minister David Cameron gave the job of ruling on a multi-billion dollar takeover by News Corp to a minister he knew supported the deal, an inquiry heard on Thursday, reigniting accusations he was in hock to Rupert Murdoch. Jeremy Hunt, the Culture Secretary who was handed the task of deciding whether to support Murdoch's $12 billion bid for BSkyB, had previously sent a memo to Cameron detailing his view that the takeover would be good for Britain. ... More »UK appointed pro-Murdoch minister to News Corp bid

  • Rousseff under pressure to veto Brazil's new forest code

    AFP - Thu, May 24, 2012

    Activists on Thursday said they handed Brazil's president a petition with nearly two million signatures urging her to veto a new forestry code that could result in increased Amazon rainforest deforestation. More »Rousseff under pressure to veto Brazil's new forest code

  • Clinton - US sanctions will stay as Iran talks continue

    Reuters - Thu, May 24, 2012

    WASHINGTON (Reuters) - The United States will not ease sanctions on Iran before a third round of talks between major powers and Iranian officials about Tehran's nuclear program, U.S. Secretary of State Hillary Clinton said on Thursday. "As we lay the groundwork for these talks, we will keep up the pressure as part of our dual-track approach. All of our sanctions will remain in place and continue to move forward during this period," she told reporters in Washington hours after talks between Iran and world powers concluded in Baghdad. ... More »Clinton - US sanctions will stay as Iran talks continue

  • China hits back at claims it is blocking climate talks

    AFP - Thu, May 24, 2012

    China hit back Thursday at claims it was holding up global climate talks in Germany, saying the United States, Europe and other rich states were the ones applying the brakes. More »China hits back at claims it is blocking climate talks

  • Clinton condemns Pakistan for jailing doctor who helped CIA

    Reuters - Thu, May 24, 2012

    WASHINGTON (Reuters) - Pakistan's jailing of a doctor for 33 years for helping the CIA find Osama bin Laden is "unjust and unwarranted," Secretary of State Hillary Clinton said on Thursday, vowing to continue to press the case with Islamabad. "The United States does not believe there is any basis for holding Dr (Shakil) Afridi. We regret the fact that he was convicted and the severity of his sentence," she said, calling his treatment "unjust and unwarranted." (Reporting by Paul Eckert; Editing by Anthony Boadle) More »Clinton condemns Pakistan for jailing doctor who helped CIA

  • Son of China's Bo Xilai graduates from Harvard

    Reuters - Thu, May 24, 2012

    BOSTON (Reuters) - The son of fallen Chinese politician Bo Xilai graduated from Harvard University's Kennedy School of Government on Thursday, capping a tumultuous academic year that also placed him in the centre of his homeland's biggest leadership crisis in two decades. Bo Guagua, whose perceived lavish lifestyle overseas has created a firestorm on the Internet back in China, wore a black cap and gown with crimson hood when he accepted his diploma at a commencement ceremony in Cambridge, Massachusetts. ... More »Son of China's Bo Xilai graduates from Harvard

  • Factbox - Nigeria's draft Petroleum Industry Bill

    Reuters - Thu, May 24, 2012

    (Reuters) - Nigeria's government task force will finalise a draft of the long-delayed Petroleum Industry Bill (PIB) this week before sending it to the oil minister and the national assembly for debate, industry sources told Reuters. The ambitious PIB has been years in the making and several other versions have been debated by parliament. In January, President Goodluck Jonathan ordered that a task force put together a definitive draft to speed up the process. ... More »Factbox - Nigeria's draft Petroleum Industry Bill

  • Exclusive - Draft of Nigeria oil bill being finalised

    Reuters - Thu, May 24, 2012

    ABUJA/LAGOS (Reuters) - A new draft of Nigeria's long delayed oil bill, whose passage is needed to unblock billions of dollars of stalled investment into exploration and production, will be finalised this week, sources close to the matter said on Thursday. A copy of the 200-page Petroleum Industry Bill (PIB) obtained by Reuters includes plans to partly privatise and list the state oil firm, tax oil company profits at 20 percent for deep offshore and 50 percent for shallow or onshore, and give the oil minister supervisory powers over all institutions in the industry. ... More »Exclusive - Draft of Nigeria oil bill being finalised

  • Yemeni army kills 33 militants in south

    Reuters - Thu, May 24, 2012

    ADEN (Reuters) - Yemeni troops fought Islamist militants in southern cities on Thursday, as the government pressed ahead with a U.S.-backed offensive to help stabilise the impoverished Arab state that has turned into a base for al Qaeda. At least 33 militants were killed in heavy fighting with the Yemeni army on the western outskirts of the city of Jaar, in southern Abyan province, army officials and residents said. Among the dead were a Somali and an Egyptian fighting with the insurgents, they said. ... More »Yemeni army kills 33 militants in south

  • Opposition has failed Syrian people: outgoing leader

    AFP - Thu, May 24, 2012

    A deeply divided opposition has failed the Syrian people, its outgoing leader charged on Thursday, as a new parliament again dominated by the ruling Baath party held its first session in Damascus. More »Opposition has failed Syrian people: outgoing leader

  • Greek anti-bailout left has four-point lead - poll

    Reuters - Thu, May 24, 2012

    ATHENS (Reuters) - Greece's anti-bailout leftist SYRIZA party is maintaining its poll lead ahead of a June 17 election that is deemed critical to the country's continued membership of the euro zone, a poll showed on Thursday. Greece was forced to call a repeat election after a May 6 vote left parliament divided evenly between groups of parties that support and oppose austerity conditions attached to a 130 billion euro rescue agreed with lenders in March. ... More »Greek anti-bailout left has four-point lead - poll

  • Church of England nears vote on women bishops

    Reuters - Thu, May 24, 2012

    LONDON (Reuters) - The Church of England paved the way on Thursday for a final vote on women bishops to go ahead in July, but supporters angry at last-minute concessions to traditionalists who favour an all-male clergy immediately threatened to scupper it. After more than a decade of bitter wrangling, traditionalists and liberals appeared no closer to finding a workable blueprint this week with the opposing sides predicting future chaos or departures from the Anglican mother church. ... More »Church of England nears vote on women bishops

  • Egypt election looks fairer than last - expert

    Reuters - Thu, May 24, 2012

    CAIRO (Reuters) - Egypt's first open leadership contest looks better managed than an earlier parliamentary vote, making it harder to influence the outcome by hustling voters, stuffing ballots and other abuses, an election observer said on Thursday. The state election body has toughened oversight of polling stations and improved voting and counting procedures since the legislative vote that ended in January, said election specialist Ossama Kamel, a consultant to several international groups. ... More »Egypt election looks fairer than last - expert

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