• Spain's wealth gap widens as economy powers ahead

    Reuters - 22 hours ago

    By Sarah White MADRID (Reuters) - Government and consumer spending helped Spain's economy power ahead in the first quarter, data showed, though evidence is also growing that the recovery has increased inequalities rather than reducing them as it has picked up pace. Leaders of the governing centre-right People's Party (PP) have said the recovery would gather pace and deliver around 600,000 more jobs this year. Growing divisions between the haves and have-nots have fuelled the discontent, forming a potential longer-term drag on the turnaround as well as threatening to undermine Prime Minister Mariano Rajoy's bid for a second term in office. More »Spain's wealth gap widens as economy powers ahead

  • Global stocks down as Shanghai sinks, Greece deadline looms

    Associated Press - 22 hours ago

    Chinese shares dived Thursday after big gains in the past three months and other global stock markets were mostly lower as a deadline neared for cash-starved Greece to make a debt payment. KEEPING SCORE: ... More »Global stocks down as Shanghai sinks, Greece deadline looms

  • Fiat Chrysler CEO predicts another industry merger 'by 2018'

    Reuters - 23 hours ago

    Fiat Chrysler Chief Executive Sergio Marchionne is convinced there will be another merger deal in the carmaking industry within the next three years, he said on Thursday, not denying reports that he sent an email earlier this year courting U.S. rival General Motors . Marchionne last month renewed his call for industry consolidation to sustain the heavy capital investments needed to meet demands for cleaner, safer vehicles. "I am absolutely certain that before 2018 there will be a merger," Marchionne said during a visit to the carmaker's Melfi plant in southern Italy, in response to a question about whether he saw such a consolidation. More »Fiat Chrysler CEO predicts another industry merger 'by 2018'

  • The banks ‘should have known what they were doing’: Neary

    TheJournal.ie - 23 hours ago

    One TD was paraphrasing Oscar Wilde at the banking inquiry today. More »The banks ‘should have known what they were doing’: Neary

  • Getting tough on banks would have gone against Irish government policy - ex-regulator

    Reuters - 23 hours ago

    By Padraic Halpin DUBLIN (Reuters) - Cracking down on Ireland's banks before the 2008 financial crash would have conflicted with government policy to promote the country as a financial services centre, former regulator Patrick Neary told a parliamentary inquiry on Thursday. Ireland's banks ultimately had to be rescued in an international bailout costing 64 billion euros (46 billion pounds), which, at almost 40 percent of annual economic output, was the most expensive in the euro zone. Neary, who was head of financial regulation, said he very deeply regretted that the system failed but that the primary responsibility resided with the banks, as well as the government. More »Getting tough on banks would have gone against Irish government policy - ex-regulator

  • PM Cameron backs Jordan's Prince Ali for FIFA presidency - spokesman

    Reuters - 23 hours ago

    Prime Minister David Cameron backed Jordan's Prince Ali bin Al Hussein's candidacy to be the next president of world football's scandal-hit governing body FIFA, the British leader's spokesman said on Thursday. "The FA (English Football Association), and we are squarely behind the FA, supports the candidacy of Prince Ali," the spokesman told reporters, speaking a day after the arrest of several senior FIFA officials on U.S. corruption charges. More »PM Cameron backs Jordan's Prince Ali for FIFA presidency - spokesman

  • Iran's Zarif hopes for nuclear deal within 'reasonable period of time'

    Reuters - 23 hours ago

    Iranian Foreign Minister Mohammad Javad Zarif said on Thursday he hoped Tehran and world powers would reach a final nuclear deal "within a reasonable period of time" but this would be hard if the other side stuck to what he called excessive demands. Iran, the United States, Britain, France, Germany, Russia and China reached a tentative framework for a nuclear pact on April 2 but several issues remain unresolved. "If the other side respects what has been agreed in Lausanne and tries to draft, based on mutual respect, a comprehensive agreement with Iran that is sustainable..., then we can meet any deadline," Zarif said after meeting his Greek counterpart. More »Iran's Zarif hopes for nuclear deal within 'reasonable period of time'

  • Russian Sports Minister says 'no risk' of Russia losing 2018 World Cup - RIA

    Reuters - 23 hours ago

    MOSCOW (Reuters) - Russian Sports Minister Vitaly Mutko said on Thursday there was "no risk" of Russia losing the right to host the 2018 football World Cup after Swiss investigators opened a criminal investigation into the bidding process. "There is no risk of losing the World Cup," Mutko was quoted as saying by RIA news agency. (Reporting by Katya Golubkova and Jack Stubbs; Editing by Gabriela Baczynska) More »Russian Sports Minister says 'no risk' of Russia losing 2018 World Cup - RIA

  • Shell Names China Boss To Key BG Merger Post

    Sky News - 23 hours ago

    The head of Royal Dutch Shell's operations in China is to spearhead the oil major's integration with BG Group as the industry's biggest-ever takeover inches forward. Sky News understands that Shell informed senior managers this week that it was naming Huibert Vigeveno, its executive chairman for China, as executive vice-president for integration, with the appointment due to take effect at the beginning of August. The role being handed to Mr Vigeveno, a long-serving Shell executive, will be a crucial one. More »Shell Names China Boss To Key BG Merger Post

  • One of worst days in FIFA history, says Figo

    Reuters - 23 hours ago

    By Mike Collett ZURICH (Reuters) - The date of May 27 will go down as one of the worst days in the history of world football's governing body FIFA, former presidential candidate Luis Figo said on Thursday. The 42-year-old former World Footballer of the Year withdrew his presidential candidacy last week and threw his support behind Prince Ali Bin Al Hussein of Jordan, who is challenging embattled president Sepp Blatter for football's top job in Friday's election at the FIFA Congress. The Congress and the election are both expected to go ahead as scheduled despite Wednesday's dramatic twin-pronged assault by the United States Department of Justice and the Swiss Attorney general's office which saw the arrest and detention of senior FIFA officials on a multitude of corruption charges. More »One of worst days in FIFA history, says Figo

  • Mourinho keen to keep title-winning Chelsea squad intact

    Reuters - 23 hours ago

    By Kaweewit Kaewjinda BANGKOK (Reuters) - Chelsea boss Jose Mourinho has no plans to let any of his English Premier League title-winning squad depart Stamford Bridge in the close season. The Portuguese, who steered Chelsea to a fifth English title earlier this month, said his focus was improving the players he had for the expected charge from a revitalised chasing pack come the start of the new campaign in August. "The players I am looking for are my players," Mourinho told reporters in Bangkok ahead of Saturday's exhibition match against the Thai All-Star. More »Mourinho keen to keep title-winning Chelsea squad intact

  • UK first-quarter growth sapped by surge in imports

    Reuters - 23 hours ago

    By David Milliken and Sarah Young LONDON (Reuters) - Britain sucked in imports in the first three months of 2015, and its large services sector performed weaker than first thought, casting doubt over the strength of its previously robust recovery. The economy grew 0.3 percent in the first quarter, the Office for National Statistics said on Thursday, confirming an initial estimate which the Bank of England and most other economists had thought too gloomy. The first-quarter growth rate was half that seen in the last six months of 2014. More »UK first-quarter growth sapped by surge in imports

  • More progress needed in Greek debt talks - EU Commission

    Reuters - 23 hours ago

    (Reuters) - More progress is needed in debt negotiations with Greece, the European Commission said on Thursday. Talks between Greece and its creditors in the Brussels group resumed on Wednesday night and talks will continue in the coming days, Commission spokeswoman Annika Breidthardt said. "Further progress is needed in the talks," she told the Commission's daily press briefing. More »More progress needed in Greek debt talks - EU Commission

  • UK says change in FIFA leadership 'very badly needed' after arrests

    Reuters - 23 hours ago

    World football's governing body FIFA urgently needs a change of leadership, Britain's Secretary of State for Culture Media and Sport said on Thursday, speaking after the arrest of several senior FIFA officials. "A change in leadership of FIFA is very badly needed," John Whittingdale told parliament in response to an urgent question on the issue. "Anyone who has spent any time looking at FIFA ... will know that this is merely the latest sorry episode which suggests that FIFA is a deeply flawed and corrupt organisation." Whittingdale was speaking a day after the game was plunged into turmoil following the arrest of senior officials - although not FIFA President Sepp Blatter - on U.S. corruption charges. More »UK says change in FIFA leadership 'very badly needed' after arrests

  • South Africa denies paying bribes to secure 2010 FIFA World Cup

    Reuters - 23 hours ago

    All 2010 football World Cup funds were accounted for and audited, South Africa's sports minister said on Thursday, and the government was yet to receive an indictment from U.S. prosecutors involving South Africans. "Our financial records and books for the 2010/2011 financial year and those before and after the World Cup have been audited by the Auditor General of South Africa and no such amount has been found," Minister of Sport Fikile Mbalula told journalists. More »South Africa denies paying bribes to secure 2010 FIFA World Cup

  • Tracy Morgan Gets Wal-Mart Payout After Crash

    Sky News - Thu, May 28, 2015

    Comedian Tracy Morgan and other people injured in a fatal crash with a Wal-Mart truck have reached an out-of-court settlement with the retail giant. Morgan, who starred in 30 Rock and Saturday Night Live, was badly hurt and comedian James 'Jimmy Mack' McNair died in last year's incident on the New Jersey Turnpike. "Wal-Mart did right by me and my family, and for my associates and their families. More »Tracy Morgan Gets Wal-Mart Payout After Crash

  • FCC's Wheeler to propose subsidized Internet access - NYT

    Reuters - Thu, May 28, 2015

    (Reuters) - The U.S. Federal Communications Commission will propose a plan to offer subsidized broadband Internet access to low-income Americans, the New York Times reported. FCC Chairman Tom Wheeler will roll out a plan on Thursday to his commissioners suggesting major changes to a $1.7 billion subsidy program, the newspaper cited senior officials as saying. The subsidy program, Lifeline, is funded through fees paid by landline and cellphone customers. More »FCC's Wheeler to propose subsidized Internet access - NYT

  • 'Blood in words': London schools tackle gangs with verse

    Reuters - Thu, May 28, 2015

    By Freya Berry LONDON (Reuters) - Students from gang-ridden areas of the East London borough of Hackney have been learning how performing poetry can help tackle life, one word at a time. The Spoken Word Education Programme, founded by a former Chicago social worker, aims to help pupils in some of London's most deprived districts to articulate their feelings and have their voices heard despite an often difficult upbringing. "These kids are so disenfranchised," said Christian Foley, a poet and spoken-word educator at Cardinal Pole school. More »'Blood in words': London schools tackle gangs with verse

  • Russia's Economy Ministry sees economy recovering from 2016

    Reuters - Thu, May 28, 2015

    Russia's economy will contract by 2.8 percent this year but is seen expanding 2.3-2.4 percent each year in 2016-18, helped by recovering oil prices, updated forecasts by the Economy Ministry showed on Thursday. The projections assume an average Urals oil price of $50 (33 pounds) per barrel this year, sticking to an existing oil price forecast which Economy Minister Alexei Ulyukayev has previously described as "conservative". Russian officials have recently painted a more upbeat picture of economic prospects, but poor data for April showed that Russia is still paying heavily for last year's oil price plunge and Western sanctions imposed as a result of the Ukraine conflict. More »Russia's Economy Ministry sees economy recovering from 2016

  • UK mortgage approvals rise to highest level since June 2014 - BBA

    Reuters - Thu, May 28, 2015

    Mortgage approvals in Britain rose in April to their highest level since June last year and they look set to keep growing, according to data from the British Bankers' Association on Thursday. "There was a significant pre-election jump in mortgage approvals which we would expect to continue in the coming months," said Richard Woolhouse, chief economist at the BBA. The BBA data are generally a good guide to trends in more comprehensive Bank of England lending figures due on Tuesday but do not include lending by mutually owned building societies, which accounts for almost a third of mortgages. More »UK mortgage approvals rise to highest level since June 2014 - BBA

  • Leave cancelled for India's doctors as heat wave kills 1,300

    Reuters - Thu, May 28, 2015

    A heat wave in India has killed at least 1,371 people this week as temperatures soar above 47 Celsius (116.6 Fahrenheit), and doctors' leave has been cancelled to help cope with the sick. May and June are India's hottest months, with temperatures regularly pushing above 40 Celsius. The death toll in the worst affected states of Andhra Pradesh in the southeast and nearby Telangana is more than double the toll from a shorter hot spell there last year, officials said, with most of those killed elderly or labourers suffering sunstroke or dehydration. More »Leave cancelled for India's doctors as heat wave kills 1,300

  • Austrian central bank to repatriate some gold from London

    Reuters - Thu, May 28, 2015

    Austria's central bank plans to repatriate some of its gold reserves from Britain after facing criticism for storing too much of the precious metal abroad, it said on Thursday. The Austrian National Bank, which administers Austria's 280 tonnes of gold reserves, said by 2020 50 percent of the reserves would be kept in Austria, 30 percent in London and 20 percent in Switzerland. It currently keeps 80 percent of its gold reserves, which have been unchanged since 2007, in Britain, 17 percent in Austria and 3 percent in Switzerland. More »Austrian central bank to repatriate some gold from London

  • Financial spreadbetter CMC Markets set to list next year - CEO

    Reuters - Thu, May 28, 2015

    British financial spreadbetting firm CMC Markets should announce details of a planned London stock market listing within about two weeks and float next year, its chief executive and main shareholder said on Thursday. Peter Cruddas spoke about the planned offering after the company announced a 61 percent rise in underlying annual profit before tax to 51.9 million pounds. Financial media have speculated the initial public offering (IPO) could value the company at around 1 billion pounds. More »Financial spreadbetter CMC Markets set to list next year - CEO

  • India's Modi to perform yoga at mass public event

    Reuters - Thu, May 28, 2015

    Indian Prime Minister Narendra Modi will perform yoga at a public event next month, part of his international drive to increase participation in the ancient Indian discipline. Modi will practice physical poses and breathing control at the event on the country's main ceremonial avenue, in the capital New Delhi, on June 21, government and ruling party officials said. The United Nations declared June 21 the first International Day of Yoga after adopting a measure proposed by the Modi government. More »India's Modi to perform yoga at mass public event

  • Hong Kong eyeing implications for banks of FIFA corruption probe

    Reuters - Thu, May 28, 2015

    Hong Kong's de-facto central bank, the Hong Kong Monetary Authority (HKMA), said on Thursday it was aware of bribery and corruption charges against officials from football's world governing body FIFA, and was monitoring the implications for banks. More than a dozen banks were named in a U.S. Department of Justice indictment of nine FIFA officials and five sports media and promotion executives involving more than $150 million in bribes.. The indictment specifically mentioned $1.2 million being wired to an unnamed bank account at HSBC in Hong Kong. More »Hong Kong eyeing implications for banks of FIFA corruption probe

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