Current News Today
Spain beset by bank crisis, downgrades, bond pressure
MADRID (Reuters) - Spain's borrowing costs shot up at a bond auction on Thursday and its troubled banks suffered a double blow, with shares in part-nationalized Bankia diving and 16 lenders - including the euro zone's biggest - having their credit ratings cut. Official data confirmed Spain was back in recession and a newspaper reported a big outflow of deposits from Bankia, but the government said it had taken a fundamental step to strengthen Spain's credibility by agreeing big budget cuts with the country's free-spending regions. ...
2012-05-17T22:02:06Z
| Exclusive: U.N. probes possible North Korea arms trade with Syria, Myanmar
UNITED NATIONS (Reuters) - A U.N. panel of experts that monitors compliance with sanctions on North Korea is investigating reports of possible weapons-related deals between Pyongyang and Syria and Myanmar, the panel said in a confidential report seen by Reuters on Thursday. "The DPRK (North Korea) continues actively to defy the measures in the (U.N. sanctions) resolutions," the panel said in the report, which it submitted to the U.N. Security Council's North Korea sanctions committee earlier this week. ...
2012-05-18T01:17:19Z
| Poll shows Greece electing pro-bailout government
ATHENS (Reuters) - Greek voters are returning to the establishment parties that negotiated its bailout, a poll showed on Thursday, offering potential salvation for European leaders who say a snap Greek election next month will decide whether it must quit the euro. The poll, the first conducted since talks to form a government collapsed and a new election was called for June 17, showed the conservative New Democracy party in first place, several points ahead of the radical leftist SYRIZA which has pledged to tear up the bailout. ...
2012-05-17T19:13:46Z
| Egypt Brotherhood forms human chain for candidate
CAIRO (Reuters) - Egypt's Muslim Brotherhood organized a 760-km (470-mile)-long human chain of supporters across the country on Thursday to back the group's presidential candidate Mohamed Mursi in a show of strength ahead of next week's historic vote. From Cairo to Aswan, members of the Brotherhood and its Freedom and Justice Party (FJP), held posters of Mohamed Mursi, the Brotherhood's alternative choice to the group's initial candidate Khairat Shater, who was disqualified over a military court conviction. ...
2012-05-17T23:02:19Z
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Current News Today
Nervous investors send S&P lower for fifth day
NEW YORK (Reuters) - Stocks hit a four-month low on Thursday as rising Spanish bond yields increased investor anxiety over that country's banks and another round of weak data undermined hopes for U.S. economic recovery. Growing worries over developments in the euro zone and lackluster economic data pushed the S&P's losing streak to five consecutive days. The index, which closed at a level not seen since mid-January, has now relinquished more than half of its gains from the first quarter. ...
2012-05-17T23:37:24Z
| Facebook wraps up IPO, set for big Friday pop
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. ...
2012-05-18T01:17:39Z
| JPMorgan's Dimon says will testify before Congress
WASHINGTON (Reuters) - JPMorgan Chase & Co Chief Executive Jamie Dimon has agreed to testify before Congress over the bank's recent trading losses, which have ignited a political debate over whether large U.S. banks need to be reined in by regulators or new laws. U.S. Senate Banking Committee Chairman Tim Johnson said in a statement on Thursday that his panel will invite Dimon to appear before Congress. ...
2012-05-17T21:45:35Z
| Gupta trial could feature big corporate stars
NEW YORK (Reuters) - Lloyd Blankfein, Warren Buffett and other well-known chieftains of corporate America might be called to testify at the insider trading trial starting on Monday of former Goldman Sachs Group Inc and Procter & Gamble Co director Rajat Gupta. Blankfein, who runs Goldman, and Buffett, who runs Berkshire Hathaway Inc , are among dozens of people that lawyers for the government and for Gupta said on Thursday might be mentioned or might testify at the trial, which is expected to last about three weeks. ...
2012-05-17T22:03:34Z
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Current News Today
New evidence in Trayvon Martin case raises more questions
Trayvon Martin's autopsy shows he had marijuana in his system the night he was killed by neighborhood watch volunteer George Zimmerman, and a gunshot to his chest came from close range, according to nearly 200 pages of previously undisclosed documents released Thursday.
2012-05-18T00:45:13Z
| Did 1991 mistake spark 'birther' issue?
A possible source of the so-called "birther" issue--or at least a potential cause of the rumors that have dogged President Barack Obama--has been identified. Obama's former literary agency misidentified his birthplace as Kenya while trying to promote the then-Harvard Law grad as an author in 1991. According to a promotional booklet produced by the agency, [...]
2012-05-17T21:44:23Z
| Facebook prices at top of range in landmark IPO
Facebook Inc priced its initial public offering at $38 a share, giving the world's No. 1 online social network a $104 billion valuation in the third largest offering in U.S. history.
2012-05-17T20:40:52Z
| Photos: Disco legend Donna Summer
Singer Donna Summer performs during the David Foster and Friends concert at the Mandalay Bay Events Center October 15, 2010 in Las Vegas, Nevada. (Photo by Ethan Miller/Getty Images)
2012-05-17T20:00:29Z
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