Developing

  • Yemen government rejects Iranian peace plan

    Reuters - 23 hours ago

    Yemen's government has rejected a four-point peace plan for the country that Iran submitted to the United Nations, a spokesman said on Saturday. Saudi Arabia and its Sunni Arab coalition partners have been bombing Iranian-allied Houthi rebels for three weeks in order to halt advances that could give the rebels full control of the country. The conflict, though rooted in local rivalries, has been described as a proxy war between predominantly Sunni Saudi Arabia and Shi'ite Iran, both top OPEC oil producers. The Iranian plan calls for an immediate ceasefire and end of all foreign military attacks, humanitarian assistance, a resumption of broad national dialogue and "establishment of an inclusive national unity government." "We reject the Iranian initiative," Yemeni government spokesman Rajeh Badi told Reuters by telephone from Qatar's capital, Doha. More »Yemen government rejects Iranian peace plan

  • French replica of revolutionary frigate sets sail for Boston

    Associated Press - 23 hours ago

    FOURAS, France (AP) — With champagne, fireworks and a presidential blessing, a painstakingly built replica of the frigate once used to bring French troops and funds to American revolutionaries set sail Saturday for the U.S. East Coast. More »French replica of revolutionary frigate sets sail for Boston

  • China wants to follow rules on currency basket - IMF official

    Reuters - 23 hours ago

    By Anna Yukhananov WASHINGTON (Reuters) - China does not want to bend the rules in its favour to include the yuan in the IMF's basket of major reserve currencies, the No. 2 official at the International Monetary Fund said. The yuan's inclusion as the first emerging market currency in the basket would mark another stage in China's rise as a global economic player. More »China wants to follow rules on currency basket - IMF official

  • Wenger's joy after 'lucky' Arsenal reach FA Cup final

    Reuters - 23 hours ago

    By Toby Davis LONDON (Reuters) - Arsenal manager Arsene Wenger conceded luck played a big part in deciding Saturday's FA Cup semi-final after 120 minutes against a Reading outfit fuelled with "ready to die" resilience. Few predicted the Championship side would put up much of a fight on Wembley's wide pitch that seemed perfectly-suited to Arsenal's mesmeric passing game. The match, which began as a drab spectacle and ended in a rip-roaring end-to-end contest, deserved better than to be decided by Adam Federici's devastating error when he let Alexis Sanchez's tame shot squirm under his body in extra time. The Australian left the pitch in tears as Arsenal celebrated reaching a record 19th FA Cup final where Liverpool or Aston Villa await. More »Wenger's joy after 'lucky' Arsenal reach FA Cup final

  • Replica of French general's historic US independence ship sails again

    AFP - Sat, Apr 18, 2015

    A replica of the 18th century ship that took a French general on his voyage to become a hero of the American war of independence set sail again Saturday, cheered off by thousands of well-wishers and President Francois Hollande. More »Replica of French general's historic US independence ship sails again

  • Athens-Moscow to sign gas deal: Greek official

    AFP - Sat, Apr 18, 2015

    A worker standing on the stairs of a natural gas reservoir at the port of Sabetta, Russia, in the Kara Sea shore line on the Yamal Peninsula in the Arctic circle, on April 16, 2015 More »Athens-Moscow to sign gas deal: Greek official

  • Labour extends poll lead ahead of May 7 election - YouGov

    Reuters - Sat, Apr 18, 2015

    Britain's opposition Labour Party extended its poll lead over Prime Minister David Cameron's Conservatives, a YouGov opinion poll for The Sunday Times showed, contrasting with a separate poll published slightly earlier. Polling company YouGov said 36 percent of voters supported Labour versus 33 percent for the Conservatives, which the Sunday Times said was the widest lead in a week on YouGov's measure. The anti-European Union UK Independence Party stood at 13 percent, while the Conservatives' Liberal Democrat coalition partners were on track to get 8 percent of the vote in a national election which is now less than three weeks away. More »Labour extends poll lead ahead of May 7 election - YouGov

  • Greece wants EU/IMF deal but impasse could bring referendum - deputy PM

    Reuters - Sat, Apr 18, 2015

    Greece aims for a deal with its creditors over a reforms package but will not retreat from its red lines, the country's deputy prime minister told the Sunday newspaper To Vima, not ruling out a referendum or early polls if talks reach an impasse. Athens is stuck in negotiations with its euro zone partners and the International Monetary Fund over economic reforms required by the lenders to unlock remaining bailout aid. "Our objective is a viable solution inside the euro," Yannis Dragasakis told the paper. The aim is (to reach) an agreement." Greece is quickly running out of cash and in the next few weeks may face a choice of either paying salaries and pensions or paying back loans from the International Monetary Fund. More »Greece wants EU/IMF deal but impasse could bring referendum - deputy PM

  • Global financial leaders speak at IMF, World Bank spring meetings

    Reuters - Sat, Apr 18, 2015

    WASHINGTON (Reuters) - For highlights of remarks by finance ministers, central bankers and other top officials gathering in Washington on Saturday for the spring meetings of the International Monetary Fund and World Bank, see. (Compiled by Reuters' IMF/G20 team) More »Global financial leaders speak at IMF, World Bank spring meetings

  • Risk of sharp reversal remains - Carney

    Reuters - Sat, Apr 18, 2015

    The world has adjusted well to divergent growth and monetary policy expectations but the risk of a "sharp and disorderly reversal" in financial markets remains, Financial Stability Board Chairman Mark Carney said on Saturday. "The risk of a sharp and disorderly reversal remains, given compressed credit and liquidity risk premia," Carney, whose FSB oversees the global financial system, said in a statement to the International Monetary Fund's steering committee. Carney, who is governor of the Bank of England, said market participants needed to be mindful of the risk of diminished market liquidity, asset price discontinuities, and contagion across markets. More »Risk of sharp reversal remains - Carney

  • IMF nations point to exchange rate, geopolitical risks

    Reuters - Sat, Apr 18, 2015

    By David Chance and Anna Yukhananov WASHINGTON (Reuters) - The International Monetary Fund's member nations on Saturday warned of risks to the global economy from exchange rate shifts and geopolitical tensions as they took note of "moderate" global growth and "uneven prospects." While economies in developed countries have strengthened, some emerging nations are being hit by weaker commodity prices and exports, the IMF's steering committee noted in a communique. With the United States poised to hike interest rates, the panel - speaking for the Fund's 188 member nations - said moves towards "policy normalization" needed to be effectively communicated to reduce adverse impacts on other economies. "I came out of this meeting with a sense of optimism," the chairman, Mexican Finance Minister Agustin Carstens, said. "The fact that a lot of the discussion basically rotated around how to increase growth ... and not only discussing risks - I think that was a very good sign." The spring meetings of the IMF and World Bank, which conclude on Sunday, have taken place amid growing concerns cash-strapped Greece will fail to reach agreement with its European Union and IMF creditors on reforms that would unlock bailout cash and stave off default. More »IMF nations point to exchange rate, geopolitical risks

  • Pope hopes Milan world's fair will help environmental effort

    Associated Press - Sat, Apr 18, 2015

    VATICAN CITY (AP) — Pope Francis says Milan's world's fair, which opens on May 1, can inspire decision-makers to help save the "health of the planet that God entrusted to the care of the human race." More »Pope hopes Milan world's fair will help environmental effort

  • Burnley down but not out yet, says Dyche

    Reuters - Sat, Apr 18, 2015

    Burnley sank to the bottom of the Premier League after a 1-0 defeat at Everton on Saturday but manager Sean Dyche said his side would not be too disheartened because they have been written off all season. The East Lancashire club, promoted last season despite an inexpensive budget, were undone by Kevin Mirallas' 29th-minute strike at Goodison Park. Burnley have 26 points from 33 matches and next weekend face a resurgent Leicester City that have won their last three matches to climb to third from bottom. "The loss leaves us fighting," Dyche told the BBC. More »Burnley down but not out yet, says Dyche

  • Vettel hopes for Bahrain battle with Mercedes

    Reuters - Sat, Apr 18, 2015

    By Alan Baldwin MANAMA (Reuters) - Formula One world champion Lewis Hamilton expects resurgent Ferrari to be hard to beat in Sunday's Bahrain Grand Prix and Sebastian Vettel hopes to prove him right. After the pair qualified on the front row on Saturday, with Hamilton on pole for the fourth race in succession for Mercedes, Vettel told reporters his Italian team had taken another important step. "We are trying to push on all areas but for now I think we can be very, very happy with where we are," said the four-times champion, who has been on the podium in all three races for Ferrari since he left Red Bull. "Today is the first time we were able to split them (the Mercedes drivers) in true dry conditions in qualifying, so very happy." Hamilton's team mate Nico Rosberg qualified third, with Ferrari's Kimi Raikkonen fourth. More »Vettel hopes for Bahrain battle with Mercedes

  • Jonas double keeps Benfica top, Porto win again

    Reuters - Sat, Apr 18, 2015

    Midfielder Jonas scored twice to give Benfica a 2-0 win at Belenenses which kept the champions top of the Portuguese league on Saturday. The Eagles stayed three points clear of arch-rivals Porto, who followed up their Champions League win over Bayern Munich by beating Academica Coimbra 1-0. With five matches to play, Benfica host Porto on April 26 in a potential title decider. The championship battle has effectively turned into a two-horse race with Sporting Lisbon a further 11 points back in third. More »Jonas double keeps Benfica top, Porto win again

  • China says to accelerate reforms to support yuan in IMF currency basket

    Reuters - Sat, Apr 18, 2015

    Beijing will accelerate reforms to the country's currency as part of a push for the yuan's inclusion in the International Monetary Fund's currency basket, China's central bank governor Zhou Xiaochuan said on Saturday. In a statement to the IMF steering committee, Zhou argued that Beijing had made strides toward making the yuan freely convertible, and that it should be included in the IMF's Special Drawing Rights basket. China has committed to further open its capital account and liberalize the way the exchange rate for the yuan, or RMB, is managed, including reducing currency market intervention. More »China says to accelerate reforms to support yuan in IMF currency basket

  • Spain PM says fraud probe into ex-minister damages his party

    Associated Press - Sat, Apr 18, 2015

    An investigation into an ex-minister and former International Monetary Fund chief over alleged fraud and money laundering is damaging Spain's ruling Popular Party, which faces a general election late this ... More »Spain PM says fraud probe into ex-minister damages his party

  • BMW recalls 91,800 Mini Coopers to fix air-bag sensor

    Reuters - Sat, Apr 18, 2015

    BMW is recalling 91,800 Mini Coopers in the United States to replace a defective sensor that may prevent the front passenger seat air bag from deploying in a crash, the German automaker said on Saturday. In documents posted on the U.S. National Highway Traffic Safety Administration website, BMW said the recall of certain model year 2005 to 2008 Mini Cooper and Mini Cooper S cars is expected to being on May 1. BMW said the front passenger seat air bag may not deploy because of a defect in the occupant detection mat. More »BMW recalls 91,800 Mini Coopers to fix air-bag sensor

  • Qualifying goes 'pear-shaped' for Rosberg

    Reuters - Sat, Apr 18, 2015

    By Alan Baldwin MANAMA (Reuters) - Too much forward thinking back-fired on Nico Rosberg on Saturday when his Bahrain Grand Prix qualifying went "pear-shaped". "It just went wrong because I was thinking about the race too much," the Mercedes driver told reporters after qualifying third with Formula One champion team mate Lewis Hamilton on pole for the fourth race in a row. Instead of Rosberg alongside on the front row for Sunday's race, Ferrari's Sebastian Vettel will be lurking threateningly in the second grid position. More »Qualifying goes 'pear-shaped' for Rosberg

  • Islamic State blamed for Afghan suicide bombing killing 35

    Associated Press - Sat, Apr 18, 2015

    FAIZABAD, Afghanistan (AP) — A motorcycle-riding suicide bomber attacked a line of people waiting outside a bank Saturday in eastern Afghanistan, killing at least 35 and wounding 125 in an assault the country's president blamed on the Islamic State group. More »Islamic State blamed for Afghan suicide bombing killing 35

  • Wonga Crashes To £35m Loss After Torrid Year

    Sky News - Sat, Apr 18, 2015

    A string of regulatory scandals and restructuring costs pushed Britain's biggest payday lender deeply into the red in 2014, it will announce next week. Sky News can reveal that Wonga Group will disclose in the coming days that it lost approximately £35m last year, ending a long run of profitability for a company which has become the target of sustained criticism by opponents of the short-term lending sector. Sources said on Saturday that Wonga, which sponsors Newcastle United and Blackpool football clubs, would also disclose that revenues slumped by about one-third last year, from £314.7m to just over £215m. The Financial Conduct Authority (FCA) has estimated that the vast majority of the roughly 400 payday lenders operating in Britain will go out of business following the introduction in January of a price cap on loan and repayment charges. More »Wonga Crashes To £35m Loss After Torrid Year

  • In NYC, debate over saving small shops amid chains' rise

    Associated Press - Sat, Apr 18, 2015

    New York is increasingly becoming chain store city. Looking for a "Seinfeld"-style coffee shop? It's sharing the city with 280 Starbucks and more than 530 Dunkin Donuts. A good neighborhood deli? ... More »In NYC, debate over saving small shops amid chains' rise

  • Reading keeper's error sees Arsenal reach FA Cup final

    Reuters - Sat, Apr 18, 2015

    By Toby Davis LONDON (Reuters) - FA Cup holders Arsenal were taken to extra time before a horrendous error by Reading goalkeeper Adam Federici brought the Championship side's dream to an end in a 2-1 semi-final defeat on Saturday. Arsenal's Alexis Sanchez snatched his second goal at the end of the first extra period to subdue the plucky second-tier strugglers, but his tame goalbound shot barely trickled over the line after being spilled by the devastated Federici. It was an unfortunate way to decide a pulsating cup tie in which Reading's spirit and sheer will to win allowed Garath McCleary to equalise for Steve Clarke's side early in the second half after Sanchez had given Arsenal a 39th-minute lead. More »Reading keeper's error sees Arsenal reach FA Cup final

  • Argentine prosecutor's death the stuff of fiction in new book

    AFP - Sat, Apr 18, 2015

    An Argentine prosecutor dead under mysterious circumstances. His case against the president thrust spectacularly into the national spotlight. These events -- are they fact or fiction? More »Argentine prosecutor's death the stuff of fiction in new book

  • Iran's Rouhani criticises Saudis over Yemen strikes

    Al Jazeera - Sat, Apr 18, 2015

    Iran's president says its regional rival will see "sooner or later" the response for its air strikes against Houthis. More »Iran's Rouhani criticises Saudis over Yemen strikes

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