23 May
Fire on nuke-powered sub at Maine shipyard hurts 6
A fire on a nuclear-powered submarine at a Maine shipyard has injured six people, including a firefighter.
Original post by Associated Press and software by Elliott Back
Breaking News- End to Fed stimulus, China slowdown spark world sell-offBy Richard Hubbard LONDON (Reuters) - The clear signal from the U.S. Federal Reserve that it will soon stop pumping money into the global economy and data pointing to Chinese growth slowing sparked sharp falls in bonds, shares and commodities on Thursday. Emerging markets, many of which have been primed by the cheap Fed cash, saw some of the biggest selling as investors rushed to the exits. MSCI's benchmark index for emerging equities slumped by more than 3.3 percent and shares across the Asian Pacific region outside Japan recorded their biggest daily drop since late 2011. ...
- Stock futures fall in wake of Fed's stimulus wind-down outlineBy Rodrigo Campos NEW YORK (Reuters) - Stock futures fell on Thursday, adding to a more than 1 percent drop in U.S. equities a day earlier, after Federal Reserve Chairman Ben Bernanke outlined the start of a wind-down of stimuli that has been instrumental to the market's rally. Bernanke said Wednesday the economy was expanding strongly enough for the Federal Reserve to begin slowing the pace of its bond-buying stimulus later this year. His comments triggered selloffs in markets that have been supported by the Fed's $85 billion monthly asset purchases, including Treasuries and U.S. equities. ...
- China, euro zone threaten U.S.-led economic recoveryBy Jonathan Cable LONDON (Reuters) - Factory output in China, the world's second largest economy, weakened to a nine-month low in June, combining with a continued recession in the euro zone to threaten a global recovery led by the United States. A day after the Federal Reserve suggested the U.S. economy was firmly on a recovery path - enough so to withdraw some monetary stimulus - data showed China's economy was stuttering. Faltering demand pushed the flash China HSBC Purchasing Managers Index (PMI) down to 48.3 in June from 49. ...
- UK's new watchdog tells banks to raise another $20.4 billionBy Matt Scuffham and Huw Jones LONDON (Reuters) - Britain's banks will have to raise 13 billion pounds ($20.4 billion) of extra capital and meet new a new cap on lending ahead of international peers as the Bank of England seeks to curb risk in the financial sector. The combined balance sheet of Britain's largest banks is five times the size of the economy, despite radical restructuring since the crash in 2008, and the country's central bank fears many are still too big to fail. ...
- Ex-UBS, Citi trader Hayes in UK court on Libor chargesBy Kirstin Ridley LONDON (Reuters) - Former UBS and Citigroup trader Tom Hayes appeared in a London court on Thursday accused of conspiracy to defraud in connection with a global investigation into the Libor interest rate rigging scandal. Hayes is the first suspect to face a court in an inquiry stretching from North America to Asia into how traders rigged crucial benchmark rates such as Libor (London interbank offered rate), against which trillions of dollars of loans are priced. ...
- Exclusive: Airbus offers 'regional' A350 - sales chiefPARIS (Reuters) - Airbus is offering airlines a shorter-range "regional" version of its A350-900 passenger jet, sales chief John Leahy told Reuters at the Paris Airshow on Thursday. The previously undisclosed move emerged two days after Boeing launched a larger version of its 787 Dreamliner, designed for airlines willing to surrender part of the range of its newest jets to carry more people on dense, intra-Asian routes. ...
- As Glencore grows, investors ask about life after IvanBy Clara Ferreira-Marques and Sinead Cruise LONDON (Reuters) - Glencore Xstrata boss Ivan Glasenberg, a former coal trader who has been at the helm for over a decade, is known for his pre-dawn runs, cut-throat competitiveness and a grueling travel schedule that shows no signs of slowing. Yet while no one expects the imminent departure of Glencore's top shareholder - at 56, not far above the average CEO age - the takeover of $46 billion miner Xstrata has prompted investor questions over how a company so closely identified with a boss will manage his succession. ...
- Exclusive: British investors step back from executive pay battleBy Joel Dimmock LONDON (Reuters) - Investors in Britain's largest companies have rowed back on the protests over pay which most readily symbolized public distaste over perceived corporate greed during last year's 'shareholder spring'. Research by Reuters has found that the average vote against executive pay deals at FTSE 100 annual general meetings has fallen by 18 percent from two years ago, even though surveys suggest earnings have continued to rise. The decline in dissent comes shortly before shareholders acquire new powers to reject compensation policies. ...
- Airbus bags firm orders worth $39 billion at showBy Maria Sheahan and Tim Hepher PARIS (Reuters) - European planemaker Airbus clinched deals for another 90 planes on Thursday, taking its total orders and commitments at the Paris Airshow to 466 aircraft worth $68.7 billion at list prices. The tally includes firm purchase orders for 241 planes worth $39.3 billion, Airbus told a news conference at the show. EADS-owned Airbus pushed back its traditional end-of-show round-up to enable it to squeeze out a final wave of orders from Hong Kong Aviation Capital, Spirit Airlines and United Airlines . ...
- French watchdog tells Google to change privacy policyBy Natalie Huet PARIS (Reuters) - France's data protection watchdog ordered Google on Thursday to change its privacy policy or face fines, leading a Europe-wide push to get the Internet giant to clarify its intentions and methods for collecting user data. France's regulator, the CNIL, said Google's privacy policy violated French laws and gave the U.S. company three months to make changes or risk a fine of up to 150,000 euros ($201,100) and a second of 300,000 euros if it still failed to act. ...
- End to Fed stimulus, China slowdown spark world sell-off
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