Asian stocks dived Friday after discouraging U.S. economic reports unnerved investors already worried about the stability of the 17-country euro currency union.
SAN FRANCISCO/NEW YORK (Reuters) - Facebook Inc is set to raise up to $18.4 billion in its IPO and become the first U.S. company to be worth more than $100 billion at its debut, as investors bet on a big pop in the stock when it begins trading on the Nasdaq on Friday. Frenzied demand, especially from individual investors hoping to buy into an Internet juggernaut that touches hundreds of millions of people every day, is expected to drive Facebook well above its initial public offering price of $38 a share, which was already at the top end of its target of $34 to $38. ...
ORLANDO, Florida (Reuters) - An FBI expert found crucial evidence in the Trayvon Martin case was inconclusive, saying it was impossible to tell if the voice screaming for help belonged to the black Florida teenager or his shooter George Zimmerman just before the neighborhood watch captain pulled the trigger. That detail came from a mass of evidence made public on Thursday in the case that sparked civil rights protests across the United States and debates over guns, self-defense laws and race relations in America. ...
ORLANDO, Florida (Reuters) - An FBI expert found crucial evidence in the Trayvon Martin case was inconclusive, saying it was impossible to tell if the voice screaming for help belonged to the black Florida teenager or his shooter George Zimmerman just before the neighborhood watch captain pulled the trigger. That detail came from a mass of evidence made public on Thursday in the case that sparked civil rights protests across the United States and debates over guns, self-defense laws and race relations in America. ...
ORLANDO, Florida (Reuters) - An FBI expert found crucial evidence in the Trayvon Martin case was inconclusive, saying it was impossible to tell if the voice screaming for help belonged to the black Florida teenager or his shooter George Zimmerman just before the neighborhood watch captain pulled the trigger. That detail came from a mass of evidence made public on Thursday in the case that sparked civil rights protests across the United States and debates over guns, self-defense laws and race relations in America. ...
BEIJING (Reuters) - China's annual economic growth could slow to 7.5 percent in the second quarter, largely due to curbs on the property sector and headwinds from external demand, the State Information Center, a government think-tank, said in a report published on Friday. If the GDP forecast is accurate, growth in the second three months of 2012 would be the slowest since the first quarter of 2009, when the global economy was in the grip of the worst financial crisis since the Great Depression. The forecast is in line with the government's official 2012 growth target of 7. ...
HOUSTON (Reuters) - The day after an all-white jury acquitted a former Houston police officer for his role in the beating of a 15-year-old African American burglary suspect, community activists rallied a crowd of at least 200 people on the courthouse steps to protest. Andrew Blomberg was acquitted by a jury in Houston on Wednesday in the alleged beating and stomping of Chad Holley two years ago. Protesters carrying signs with slogans like, "No justice, no peace. ...
HOUSTON (Reuters) - The day after an all-white jury acquitted a former Houston police officer for his role in the beating of a 15-year-old African American burglary suspect, community activists rallied a crowd of at least 200 people on the courthouse steps to protest. Andrew Blomberg was acquitted by a jury in Houston on Wednesday in the alleged beating and stomping of Chad Holley two years ago. Protesters carrying signs with slogans like, "No justice, no peace. ...
LONDON (Reuters) - Rupert Murdoch sowed the seeds of the phone hacking scandal that has tarnished his reputation by forcing Britain's most respected newspapers into "a Faustian bargain" with the powerful, a former editor of the UK's Times newspaper said on Thursday. Harry Evans told a British media inquiry how as editor of the Times he battled attempts by Murdoch to compel him to support British Prime Minister Margaret Thatcher. At the Leveson inquiry last month, Murdoch denied influencing the editorial stance of the Times papers. ...
HOUSTON (Reuters) - The day after an all-white jury acquitted a former Houston police officer for his role in the beating of a 15-year-old African American burglary suspect, community activists rallied a crowd of at least 200 people on the courthouse steps to protest. Andrew Blomberg was acquitted by a jury in Houston on Wednesday in the alleged beating and stomping of Chad Holley two years ago. Protesters carrying signs with slogans like, "No justice, no peace. ...
OKLAHOMA CITY (Reuters) - The Humane Society of the United States is accusing an Oklahoma exotic animal park of allowing children to handle and pose for photographs with juvenile tigers in what they called "a petting zoo for carnivores." Joe Schreibvogel, owner of the G.W. Exotic Animal Park, 65 miles south of Oklahoma City, denies the allegations, and he said on Thursday that the humane society simply wants to bankrupt him. Wayne Pacelle, head of the animal rights organization, contends that allowing visitors to handle the unpredictable felines placed the visitors at risk. ...
OKLAHOMA CITY (Reuters) - The Humane Society of the United States is accusing an Oklahoma exotic animal park of allowing children to handle and pose for photographs with juvenile tigers in what they called "a petting zoo for carnivores." Joe Schreibvogel, owner of the G.W. Exotic Animal Park, 65 miles south of Oklahoma City, denies the allegations, and he said on Thursday that the humane society simply wants to bankrupt him. Wayne Pacelle, head of the animal rights organization, contends that allowing visitors to handle the unpredictable felines placed the visitors at risk. ...
Asian stocks plunged Friday after discouraging U.S. economic reports unnerved investors already worried about the stability of the 17-country eurozone.
NEW YORK (Reuters) - Greek winemakers are not pricing their wares in drachmas - yet. The winemakers, visiting New York as part of an international promotional tour, doubted Athens would leave the euro-zone even after Fitch Ratings Agency downgraded Greece's sovereign debt on Thursday, calling the country's exit from the monetary union "probable. "No, no, no. That is not going to happen," Stellios Boutaris, whose family owns the Kir-Yianni winery, insisted. "And if that happens, we will have bigger problems than just pricing wine in drachmas. ...
SANTO DOMINGO (Reuters) - Voters in the Dominican Republic's presidential election on Sunday will choose between two candidates vying to be seen as agents of change, even though one represents the ruling party and the other is a former president. Making the choice even harder, both candidates represent center-left political parties in a race devoid of major ideological differences and lacking a conservative option. ...
SANTO DOMINGO (Reuters) - Voters in the Dominican Republic's presidential election on Sunday will choose between two candidates vying to be seen as agents of change, even though one represents the ruling party and the other is a former president. Making the choice even harder, both candidates represent center-left political parties in a race devoid of major ideological differences and lacking a conservative option. ...
BEIJING (Reuters) - A Chinese court convicted Lai Changxing, who was deported from Canada, on smuggling and bribery charges and jailed him for life on Friday, the official Xinhua news agency reported. The conviction effectively ends the career of a man whose case tainted ruling Chinese Communist Party officials - including Jia Qinglin, who sits on the elite Standing Committee - with rumors of malfeasance, collusion and dereliction of duty. ...
BEIJING (Reuters) - A Chinese court convicted Lai Changxing, who was deported from Canada, on smuggling and bribery charges and jailed him for life on Friday, the official Xinhua news agency reported. The conviction effectively ends the career of a man whose case tainted ruling Chinese Communist Party officials - including Jia Qinglin, who sits on the elite Standing Committee - with rumors of malfeasance, collusion and dereliction of duty. ...
WASHINGTON (Reuters) - War-weary U.S. lawmakers clashed over Afghanistan policy and vented their frustration with Pakistan's border closings on Thursday as they debated an annual defense policy bill that seeks $642.5 billion in military spending for the 2013 fiscal year.
CHICAGO (Reuters) - A small group of anti-war demonstrators staged a peaceful "die in" on Thursday at President Barack Obama's election campaign headquarters in Chicago to demand an end to the war in Afghanistan and unmanned drone aircraft attacks overseas. Despite calling ahead, some of the roughly 50 protesters said they were unable to deliver a letter to the Obama campaign calling for the United States to leave NATO and its "violent mission of protecting the 1 percent in the global economy who represent 99 percent of corporate wealth in the world. ...
CHICAGO (Reuters) - A small group of anti-war demonstrators staged a peaceful "die in" on Thursday at President Barack Obama's election campaign headquarters in Chicago to demand an end to the war in Afghanistan and unmanned drone aircraft attacks overseas. Despite calling ahead, some of the roughly 50 protesters said they were unable to deliver a letter to the Obama campaign calling for the United States to leave NATO and its "violent mission of protecting the 1 percent in the global economy who represent 99 percent of corporate wealth in the world. ...
CHICAGO (Reuters) - A small group of anti-war demonstrators staged a peaceful "die in" on Thursday at President Barack Obama's election campaign headquarters in Chicago to demand an end to the war in Afghanistan and unmanned drone aircraft attacks overseas. Despite calling ahead, some of the roughly 50 protesters said they were unable to deliver a letter to the Obama campaign calling for the United States to leave NATO and its "violent mission of protecting the 1 percent in the global economy who represent 99 percent of corporate wealth in the world. ...
CHICAGO (Reuters) - A small group of anti-war demonstrators staged a peaceful "die in" on Thursday at President Barack Obama's election campaign headquarters in Chicago to demand an end to the war in Afghanistan and unmanned drone aircraft attacks overseas. Despite calling ahead, some of the roughly 50 protesters said they were unable to deliver a letter to the Obama campaign calling for the United States to leave NATO and its "violent mission of protecting the 1 percent in the global economy who represent 99 percent of corporate wealth in the world. ...
DETROIT/NEW YORK (Reuters) - Facebook may only have itself to blame for why General Motors rained on its IPO parade this week. GM announced the decision to drop Facebook paid ads on Tuesday in what was the first highly visible crack in Facebook's strategy and illustrated doubts about its perceived advantage over traditional media. GM's decision followed Facebook officials' failure to convince top marketing executives at the U.S. automaker of the benefits of Facebook's paid ads at a meeting that took place in the past few weeks, people familiar with the meeting said on Thursday. ...
(Reuters) - Billionaire investor Warren Buffett sought to buy Residential Capital (ResCap) from Ally Financial before the U.S. auto and mortgage lender put its home-lending unit into bankruptcy, Bloomberg said, citing three persons familiar with the matter. The news agency said Warren Buffett, Berkshire Hathaway Inc's controlling shareholder, appointed investment manager Ted Weschler for talks with Ally, quoting the persons who preferred anonymity. ...
WASHINGTON (Reuters) - The Pentagon will seek to provide Israel with an additional $70 million in the coming months for its short-range rocket shield, known as the "Iron Dome," Defense Secretary Leon Panetta said after a meeting with his Israeli counterpart on Thursday. So far, the United States has provided $205 million to support the Iron Dome, manufactured by Israel's state-owned Raphael Advanced Defense Systems Ltd. The system uses small radar-guided missiles to blow up in midair Katyusha-style rockets with ranges of 3 miles to 45 miles, as well as mortar bombs. ...
WASHINGTON (Reuters) - The Pentagon will seek to provide Israel with an additional $70 million in the coming months for its short-range rocket shield, known as the "Iron Dome," Defense Secretary Leon Panetta said after a meeting with his Israeli counterpart on Thursday. So far, the United States has provided $205 million to support the Iron Dome, manufactured by Israel's state-owned Raphael Advanced Defense Systems Ltd. The system uses small radar-guided missiles to blow up in midair Katyusha-style rockets with ranges of 3 miles to 45 miles, as well as mortar bombs. ...
BOSTON (Reuters) - Osiris Therapeutics Inc said on Thursday that Canadian health regulators have approved its treatment for acute graft-versus host disease in children, making it the first stem cell drug to be approved for a systemic disease anywhere in the world. Osiris shares rose 14 percent to $6.00 in extended trading after the news was announced. Graft versus host disease (GvHD) is a potentially deadly complication from a bone marrow transplant, when newly implanted cells attack the patient's body. ...
The nearly bankrupt U.S. Postal Service is moving forward with a multibillion-dollar cost-cutting plan that will close nearly 250 mail processing centers, saying on Thursday it can no longer wait as Congress remains deadlocked over how to help.
TOKYO (Reuters) - Japan's government took a brighter view of the economy in a report on Friday, thanks to improvements in private consumption and exports, but it warned that Europe's debt crisis and financial market swings could worsen the outlook. The upgrade, the first since August last year, comes one day after data showed Japan's economy grew faster than the United States, Germany and Britain in the first quarter as subsidies boosted sales of energy-efficient cars. ...
The House endorsed the continued war in Afghanistan on Thursday despite acknowledgment from Republicans and Democrats that the American people are war-weary after more than a decade of conflict.
PHOENIX (Reuters) - Firefighters struggled against strong winds on Thursday to halt the advance of Arizona wildfires that have charred more than 30 square miles (78 square km) of dry ponderosa forest, brush and grass, and a blaze in nearby Colorado swelled overnight. More than 1,000 firefighters in the two states battled at least five major blazes from the ground while air tankers and helicopters dropped water and fire retardant. Another fire erupted in Minnesota, encroaching on the northern town of Ely. ...
PHOENIX (Reuters) - Firefighters struggled against strong winds on Thursday to halt the advance of Arizona wildfires that have charred more than 30 square miles (78 square km) of dry ponderosa forest, brush and grass, and a blaze in nearby Colorado swelled overnight. More than 1,000 firefighters in the two states battled at least five major blazes from the ground while air tankers and helicopters dropped water and fire retardant. Another fire erupted in Minnesota, encroaching on the northern town of Ely. ...
LOS ANGELES (Reuters) - The USS Iowa, which ferried the late President Franklin D. Roosevelt across the perilous Atlantic waters to a historic meeting with Winston Churchill and Josef Stalin in the dark days of World War Two, will have to be towed to its final port call. The battleship saw combat in the Pacific, survived a devastating explosion in a gun turret, and even a snub from the city of San Francisco. At the end of its final voyage, the storied warship will have a permanent mooring in Los Angeles. ...
LOS ANGELES (Reuters) - The USS Iowa, which ferried the late President Franklin D. Roosevelt across the perilous Atlantic waters to a historic meeting with Winston Churchill and Josef Stalin in the dark days of World War Two, will have to be towed to its final port call. The battleship saw combat in the Pacific, survived a devastating explosion in a gun turret, and even a snub from the city of San Francisco. At the end of its final voyage, the storied warship will have a permanent mooring in Los Angeles. ...
WASHINGTON (Reuters) - Pilots' union leaders at United Continental Holdings , parent of the world's biggest carrier United Airlines, called on Thursday for its members to hold a strike vote after failing to agree on a contract after two years of talks with management. The Air Line Pilots Association (ALPA), which represents pilots who flew for what were United and Continental Airlines before the two merged in 2010, did not set a date for a vote. ...
LOS ANGELES (Reuters) - The parents of two Chinese graduate students slain near the University of Southern California last month have filed a wrongful death lawsuit accusing the school of misrepresenting the area as safe and failing to provide security patrols. The 15-page lawsuit filed on Wednesday in Los Angeles Superior Court comes just over a month after Ming Qu and Ying Wu, both 23, were fatally shot as they were sitting in a 2003 BMW car that had been double-parked. ...