• Truckers at nation's biggest port complex strike over wages

    Associated Press - 4 minutes 31 seconds ago

    LOS ANGELES (AP) — Truck drivers who haul goods from the nation's busiest port complex in Southern California walked off the job Monday in a dispute over their wages and employee status, months after another West Coast labor conflict cost major delays in billions of dollars of trade. More »Truckers at nation's biggest port complex strike over wages

  • Change to Greek bailout negotiating team fuels market hopes

    Associated Press - 7 minutes ago

    ATHENS, Greece (AP) — Greece reshuffled its bailout negotiating team on Monday following fierce criticism of its finance minister, meeting with market applause as investors hoped it will facilitate a deal to save the country from bankruptcy. More »Change to Greek bailout negotiating team fuels market hopes

  • Mylan rejects Teva's $40.1 billion buyout offer

    Associated Press - 9 minutes ago

    NEW YORK (AP) — Mylan N.V. rejected Teva Pharmaceuticals' $40.1 billion buyout offer, saying the cash-and-stock proposal undervalues the company. More »Mylan rejects Teva's $40.1 billion buyout offer

  • Troika technical teams on Cyprus to assess banks - central bank

    Reuters - 12 minutes ago

    International lenders began talks in Cyprus on Monday to try to pave the way for a resumption of bailout payments after the island passed a law on foreclosure of bad loans. Cyprus's Central Bank said that technical banking teams from the European Union, the International Monetary Fund and the European Central Bank (ECB) would be on the island until April 30, and again from May 6. They will discuss "issues concerning restructuring of non-performing loans and supervision matters" and have meetings with commercial banks, a Central Bank spokeswoman said. If the lenders give it a positive assessment after their meetings, this will also allow the ECB to buy Cypriot sovereign bonds as part of its money-printing programme. More »Troika technical teams on Cyprus to assess banks - central bank

  • Greece moves to sideline Varoufakis after reform talks fiasco

    Reuters - 15 minutes ago

    By Renee Maltezou and Deepa Babington ATHENS (Reuters) - Greek Prime Minister Alexis Tsipras on Monday reshuffled his team handling talks with European and IMF lenders, a move widely seen as an effort to relegate embattled Finance Minister Yanis Varoufakis to a less active role in negotiations. An anti-austerity economist who has angered peers with his brash style, Varoufakis is facing calls to quit after returning from a meeting of euro zone finance ministers in Riga isolated and empty-handed while Athens scrambles to avoid bankruptcy. Tsipras and senior aides publicly voiced support for Varoufakis at a meeting on Sunday and agreed the finance minister would supervise a new team negotiating a reforms deal with lenders, a government official said. This would elevate him from his current position and give him a more active role in the negotiations, pushing Varoufakis to the sidelines. More »Greece moves to sideline Varoufakis after reform talks fiasco

  • US stocks creep higher at start of busy week for earnings

    Associated Press - 20 minutes ago

    NEW YORK (AP) — U.S. stocks rose slightly in morning trading Monday as investors looked ahead to a busy week for earnings news and a meeting by the Federal Reserve on interest rates. More »US stocks creep higher at start of busy week for earnings

  • Conservatives lead Labour by six points - Ashcroft poll

    Reuters - 32 minutes ago

    LONDON (Reuters) - Britain's ruling Conservatives are ahead of the opposition Labour Party by six points before a national election on May 7, according to the latest survey published by Lord Ashcroft Polls on Monday. The poll found support for the Conservatives at 36 percent, Labour on 30 percent, the Liberal Democrats on 9 percent, UKIP on 11 percent and the Greens on 7 percent. (Reporting by Estelle Shirbon; editing by Guy Faulconbridge) More »Conservatives lead Labour by six points - Ashcroft poll

  • Starbucks breakdown shows how registers have evolved

    Associated Press - 32 minutes ago

    NEW YORK (AP) — A glitch that disabled registers at thousands of Starbucks stores Friday was a reminder of the invisible systems restaurants rely on to run increasingly sophisticated operations. More »Starbucks breakdown shows how registers have evolved

  • Altera shareholder challenges company over Intel

    Reuters - 33 minutes ago

    (Reuters) - TIG Advisors LLC, an investment firm that holds shares in Altera Corp, challenged the company's board director nomination on Monday over its refusal to engage with Intel Corp about a potential merger. TIG Advisors is the first shareholder to go on the record in a bid to put pressure Altera. It urged Altera's shareholders in a letter on Monday to vote against the company's lead independent director Michael Nevens at its annual meeting of stockholders scheduled on May 11. "Stockholders should have right to choose between Intel’s reported $54 cash offer and uncertain future of standalone Altera," TIG Advisors said in the letter. More »Altera shareholder challenges company over Intel

  • After quake and avalanche, Everest climber not yet ready to quit

    Reuters - 34 minutes ago

    By Douglas Busvine NEW DELHI (Reuters) - Climber Nick Cienski has not given up on his world record bid to scale six 8,000-metre peaks this calendar year, despite narrowly escaping a huge avalanche on Mount Everest set off by an earthquake that killed thousands of people in Nepal. The avalanche unleashed by the 7.9 magnitude quake on Saturday blew tents, people and gear hundreds of feet, only just missing his team, the Canadian told Reuters on Monday by satellite telephone from base camp. A day after helping to recover the bodies of 12 of at least 17 avalanche victims, Cienski agonised over whether to continue his quest in the poor Himalayan nation struck by a greater tragedy. More »After quake and avalanche, Everest climber not yet ready to quit

  • Nepal scrambles to organise quake relief, many flee capital

    Reuters - 34 minutes ago

    By Gopal Sharma, Rupam Jain Nair and Ross Adkin KATHMANDU, Nepal (Reuters) - Nepalese officials scrambled on Monday to get aid from the main airport to people left homeless and hungry by a devastating earthquake two days earlier, while thousands tired of waiting fled the capital Kathmandu for the surrounding plains. By afternoon, the death toll from Saturday's 7.9 magnitude earthquake had climbed to more than 3,700, and reports trickling in from remote areas suggested it would rise significantly. A senior interior ministry official said it could reach as much as 5,000, in the worse such disaster in Nepal since 1934, when 8,500 people were killed. Kathmandu's Tribhuvan International Airport was hobbled by many employees not showing up for work, people trying to get out, and a series of aftershocks which forced it to close several times since the quake. More »Nepal scrambles to organise quake relief, many flee capital

  • Google launches portal to buy patents

    Reuters - 36 minutes ago

    (Reuters) - Google Inc said it would launch an experimental portal that allows interested patent holders to sell their patents to the company. Patent holders can tell Google about the patents they're willing to sell and the expected price through the portal, the company said on its blog. Google said it will let the submitters know of its interest in buying their patents by June 26 and expects to pay the sellers by late August. More »Google launches portal to buy patents

  • GM ignition switch death toll rises to 90

    Associated Press - 42 minutes ago

    DETROIT (AP) — Families of at least 90 people killed in crashes caused by defective General Motors ignition switches will get compensation from the automaker. More »GM ignition switch death toll rises to 90

  • Hunger and death stalk millions in Yemen's war

    Reuters - 42 minutes ago

    By Mohammed Mukhashaf and Noah Browning ADEN/DUBAI (Reuters) - Hospitals bereft of electricity, homes crushed by air strikes, thousands on the move in search of water, shelter and food: Yemen's humanitarian plight, long fragile, has become disastrous after a month of all-out war. Crammed with wounded people, some hospitals lacked the electricity or generator fuel to perform surgery, and aid officials say some bodies are now being stored in commercial refrigerators or hastily buried when fetid morgues lack power. In a water-scarce country like Yemen, that means you can't even pump water," said International Committee of the Red Cross spokeswoman Marie Claire Feghali. Hundreds of Saudi-led air strikes and dozens of ground battles across Yemen have left millions in the impoverished country hungry and 150,000 fleeing for their lives. More »Hunger and death stalk millions in Yemen's war

  • Brazil's philosopher minister prescribes technology shock

    Reuters - 48 minutes ago

    By Anthony Boadle BRASILIA (Reuters) - Brazil's government plans over time to remove tariffs on high-end capital goods in a bid to boost productivity and breathe life into its flailing economy, an adviser to President Dilma Rousseff told Reuters. Strategic Affairs Minister Roberto Mangabeira Unger, a Harvard philosophy professor tasked by Rousseff with laying out a new development path for Brazil, said new tools are needed to evolve from an economy based on commodity exports to a manufacturing nation with a skilled and well-paid workforce. Brazil has some of Latin America's highest import tariffs, and industrial groups and Rousseff's own leftist Workers' Party have historically opposed efforts to remove protections for local manufacturers. "We need to equip ourselves with the advanced technologies that are available in the world," Unger said in an interview last week. More »Brazil's philosopher minister prescribes technology shock

  • Nepali workers abroad fret over families at home after quake

    Reuters - 51 minutes ago

    By Mari Saito and Antoni Slodkowski OTA, Japan (Reuters) - For Naren Mahat, a 27-year-old Nepali living in Japan, there was a long and painful wait on Saturday between news of a devastating earthquake and, finally, word from family members cut off by bad phone lines and repeated aftershocks. I still can't believe this is happening," said Mahat, an asylum seeker from Nepal's capital Kathmandu, which suffered heavy damage. We can only pray." Hundreds of thousands of Nepalis live outside the mountain state, many of them migrant workers on Gulf state construction sites. Thousands of others work in other Asian countries including Malaysia, South Korea and Japan, where they are plugging a chronic labour shortage. More »Nepali workers abroad fret over families at home after quake

  • Labour Plans To Reduce Stamp Duty To Zero

    Sky News - 57 minutes ago

    Ed Miliband has announced plans to scrap stamp duty on homes worth up to £300,000 for first-time buyers. Cutting stamp duty to zero would benefit nine out of 10 people buying their first home and could save up to £5,000, the Labour leader said. Speaking in Stockton, Mr Miliband said: "There's nothing more British than the dream of home-ownership, starting out in a place of your own. The Labour leader, whose popularity has shown a significant increase in recent polls, told the audience there were 10 days to go until the "tightest election in a generation" and 10 days until "we have the chance to get rid of David Cameron". More »Labour Plans To Reduce Stamp Duty To Zero

  • Greek Cypriots say welcome election of Turk Cypriot moderate

    Reuters - 57 minutes ago

    By Michele Kambas NICOSIA (Reuters) - Greek Cypriots welcomed the election of a moderate Turkish Cypriot leader in northern Cyprus on Monday, saying they anticipated a swift resumption of stalled peace talks. Turkish Cypriot independent Mustafa Akinci swept to victory in presidential elections on Sunday, clinching 60.5 percent of the vote over incumbent conservative Dervis Eroglu. Akinci has pledged to push for a peace deal with Greek Cypriots. "At last, our hopes are high that this country can be reunified," said Cypriot President Nicos Anastasiades. More »Greek Cypriots say welcome election of Turk Cypriot moderate

  • FTSE climbs to record high after report HSBC considering spin-off

    Reuters - 1 hour 1 minute ago

    By Alistair Smout and Sudip Kar-Gupta LONDON (Reuters) - The FTSE rose to a record high on Monday, led by HSBC, after a report that Europe's biggest bank might spin off its UK retail operations. HSBC rose 3.6 percent after the Sunday Times reported that it was weighing plans to spin off its British retail bank in a 20 billion-pound deal. HSBC declined to comment on the report. The bank had already said it was reviewing whether to keep its headquarters in London, given increased regulation and the possibility of a referendum on Britain's membership in the European Union. More »FTSE climbs to record high after report HSBC considering spin-off

  • Germany says border guards will try to keep Russian bikers out

    Reuters - 1 hour 2 minutes ago

    By Erik Kirschbaum BERLIN (Reuters) - German border guards will try to stop members of an ultra-nationalist Russian motorcycle club from crossing the border in a biker parade to mark the 70th anniversary of the end of World War Two on May 9, government officials said on Monday. "The border guards are aware that there might be people with visas that are valid but have actually been annulled," said foreign ministry spokesman Martin Schaefer. "There is a legal administrative procedure in which visas already issued can be annulled so it would be possible to deny entry to people who are carrying visas." Poland said on Friday it would not allow the club with ties to President Vladimir Putin to cross into its territory. Some 50 members of the Night Wolves plan to ride from Moscow to Berlin to mark Soviet forces' victory over Nazi Germany in the climactic Battle of Berlin. More »Germany says border guards will try to keep Russian bikers out

  • Sudanese President Bashir wins election with 94 percent of vote

    Reuters - 1 hour 5 minutes ago

    By Khalid Abdelaziz KHARTOUM (Reuters) - Sudanese President Omar Hassan al-Bashir extended his quarter-century in power with landslide election victories for himself and his ruling party, according to results announced on Monday, and dismissed allegations that voters had been denied any real choice. Bashir took 94.05 percent of votes in the presidential election and his National Congress Party (NCP) won 323 of 426 parliamentary seats, National Election Commission president Mukhtar al-Asim told a news conference in Khartoum. "Voters didn't bother to vote or pay attention because they didn't see it as a real election," said Abdelwahab El Effendi, a Sudan expert at the University of Westminster. More »Sudanese President Bashir wins election with 94 percent of vote

  • UK government 'tells BP it would oppose takeover'

    AFP - 1 hour 6 minutes ago

    Analysts say BP could become a takeover target because it has been forced to sell off assets following the Deepwater Horizon rig spill in 2010, and because of lower oil prices More »UK government 'tells BP it would oppose takeover'

  • Burger King sales jump, boosted by a spicy Whopper

    Associated Press - 1 hour 7 minutes ago

    NEW YORK (AP) — The home of the Whopper enjoyed its biggest sales jump in nearly a decade during the first quarter, boosted by a new flavor of its signature burger and a popular 2 for $5 promotion. More »Burger King sales jump, boosted by a spicy Whopper

  • ECB's Constancio says confident deal can be reached with Greece

    Reuters - 1 hour 8 minutes ago

    The European Central Bank's Vice President said on Monday that he was confident Greece could reach a debt deal with its international lenders. Vitor Constancio was asked about reports of a reshuffle in Greece's negotiating team. More »ECB's Constancio says confident deal can be reached with Greece

  • Yemen, Syria, defence deals top agenda as Erdogan heads for Kuwait

    Reuters - 1 hour 8 minutes ago

    The crises in Yemen and Syria as well as defence and construction deals will top the agenda when Turkish President Tayyip Erdogan meets Kuwait's emir this week, the latest sign of Turkish efforts to strengthen ties with Gulf Arab states. Erdogan has supported fellow Sunni Muslim Saudi Arabia and its Gulf allies in their campaign against Iran-allied Houthi insurgents in Yemen and has repeatedly accused Tehran of seeking to dominate the Middle East. "We will offer some deals to Kuwait that are beneficial to both countries, especially deals on defence," Erdogan told a news conference in Ankara on Monday before leaving for Kuwait. More »Yemen, Syria, defence deals top agenda as Erdogan heads for Kuwait

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