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 Category 49 -

News

Egypt police clash with protesters ahead of vote

photo Egyptian riot police firing tear gas and rubber bullets stormed into Cairo's Tahrir Square Saturday to dismantle a protest tent camp, setting off clashes that killed one protester, injured hundreds and raised tensions days before the first elections since Hosni Mubarak's ouster.


UC Davis launches probe after pepper spray video

photo The chancellor of the University of California, Davis said Saturday that the school was launching an investigation after "chilling" video images surfaced online showing an officer using pepper spray on several protesters as they sit passively with their arms interlocked.


Seif al-Islam Gadhafi captured in southern Libya

photo Moammar Gadhafi's former heir apparent Seif al-Islam was captured by revolutionary fighters in the southern desert Saturday just over a month after his father was killed, setting off joyous celebrations across Libya and closing the door on the possibility that the fugitive son could stoke further insurrection.


Gaddafi's son captured, scared and without a fight

photoZINTAN, Libya (Reuters) - Muammar Gaddafi's son Saif al-Islam has been captured in Libya's southern desert, scared and with only a handful of supporters, by fighters who vow to hold him in the mountain town of Zintan until there is a government to hand him over to. Crowds across the country fired guns and hooted car horns to celebrate the seizure of the British-educated 39-year-old, who was once seen as a future ruler of the oil-producing desert state. Fighters from Zintan said they stopped Saif al-Islam as he drove through the desert in a small convoy and detained him without a fight. ...


Analysis:Obama pivots towards Asia, eyeing U.S. exports and jobs

photoNUSA DUA, Indonesia (Reuters) - U.S. President Barack Obama sought to charm Asia-Pacific leaders this week with Australian slang and memories from his childhood in Hawaii and Indonesia in his bid to boost U.S. ties with the fast-growing region. The top goal of the nine-day trip, which took Obama away from Washington just as U.S. budget battles were intensifying, was to cement a foreign policy "pivot" toward Asia that could open the door to more American exports and jobs. ...


Scandal leaves Paterno's reputation in tatters

photoA half-century in the making, Joe Paterno's impeccable reputation was shattered in a matter of days.


Analysis: Obama gets little pushback on Asia trip

photo An assertive President Barack Obama got much of what he wanted during his Asia-Pacific trip because the results didn't depend on negotiating with the world.


Deficit deal failure would pose crummy choice

photo If the deficit-cutting supercommittee fails, Congress will face a crummy choice. Lawmakers can allow payroll tax cuts and jobless aid for millions to expire or they extend them and increase the nation's $15 trillion debt by at least $160 billion.


Post-9/11 tradeoff: Security vs. civil liberties

photo In the early months after the 9/11 terror attacks, America's visceral reaction was to gird for a relentless, whatever-it-takes quest to punish those responsible and prevent any recurrences.


Truck strikes Yale-Harvard tailgaters, killing 1

A driver of a U-Haul truck carrying beer kegs through a tailgating area before the Yale-Harvard game Saturday suddenly accelerated, fatally striking a 30-year-old Massachusetts woman and injuring two other women, police said.

Seif al-Islam Gadhafi was former heir apparent

photo Seif al-Islam Gadhafi, considered Moammar Gadhafi's heir apparent, long drew Western favor by touting himself as a liberalizing reformer but then staunchly backed his father in his brutal crackdown on rebels in the regime's final days.


Greek party chief resists EU/IMF pressure on pledge

photoATHENS (Reuters) - Greece's creditors failed on Saturday to persuade the leader of the main conservative party to drop his refusal to sign a pledge that he will back austerity measures under a bailout deal aimed at saving the country from financial ruin. Antonis Samaras, leader of New Democracy, one of three parties in a new national unity coalition struggling to avert a disastrous default, says there is no need to provide a written guarantee because his word can be trusted. ...


Israel: time running out to stop a nuclear Iran

photoWASHINGTON (Reuters) - Iran is less than a year away from being unstoppable in its goal of producing a nuclear weapon, Israeli Defense Minister Ehud Barak said in an interview with CNN released on Saturday. In an advance transcript of an interview to air on CNN's "Fareed Zakaria GPS" program on Sunday, Barak said Israel was focused on the prospect of a nuclear Iran and what "should and could be done about it on time. ...


Analysis: Arrest of Gaddafi's son poses challenge for new Libya

photoLONDON (Reuters) - The capture of Muammar Gaddafi's son Saif al-Islam ties up an awkward loose end for Libya's new rulers, but disputes over what to do with him could severely strain the country's fledgling systems and structures. Saif al-Islam, once held up as a potentially progressive future leader of Libya and face of its rapprochement with the West, was seized in the desert and flown to the western mountain town of Zintan. In the short term, his capture is seen perhaps offering a useful distraction from the growing problems faced by post-war Libya. ...


No pillows in coach, but it's sundae time up front

photo Flying has never been so good — for those able to splurge.


China says will "strengthen" yuan's trading flexibility

photoSHANGHAI (Reuters) - China will make the yuan more flexible in either direction and recent reforms to make the currency more market-oriented have begun to achieve some results, Premier Wen Jiabao said on Saturday. The comments probably do not signal an imminent widening of the yuan's daily trading band, but they underscore Beijing's intention to introduce two-way fluctuations in the yuan to dampen expectations that China's currency could only appreciate. ...


China rebuffs U.S., Asia pressure in sea dispute

photoNUSA DUA, Indonesia (Reuters) - China pushed back on Saturday against a week of U.S. pressure to resolve a rancorous dispute over territorial claims in the South China Sea, a crucial, mineral-rich commercial shipping lane at the heart of growing tensions among Asian leaders. Chinese Premier Wen Jiabao chastised President Barack Obama for raising the issue during an Asia-Pacific leaders summit, hours after Obama told Wen the United States wants the sea lanes kept open and peaceful, capping two weeks of Sino-U.S. tensions. ...


Emboldened by Obama, Myanmar maps out reforms

photoNUSA DUA, Indonesia (Reuters) - Myanmar vowed on Saturday to address concerns raised by U.S. President Barack Obama, outlining far-reaching plans to make peace with ethnic rebels, gradually release all political prisoners and relax controls on freedom of expression. But its government, fearing an Arab Spring-style revolution if it moves too quickly, stressed reforms must be gradual after nearly a half century of isolation and authoritarian rule that ended when the army handed power in March to a civilian parliament stacked with former generals. ...


Ex-Olympus VP questioned by Japanese prosecutors: media

photoTOKYO (Reuters) - Hisashi Mori, an ex-vice president of Japan's disgraced Olympus, has been questioned by Japanese prosecutors on a voluntarily basis as part of an investigation of an accounting scandal at the 92-year-old firm, media said Saturday. Japanese authorities are investigating Olympus after the maker of cameras and endoscopes admitted it hid investment losses for decades using funds from acquisition deals. ...


Analysis: Obama gambles on Myanmar reforms

photoWASHINGTON (Reuters) - President Barack Obama is gambling that the United States can nudge Myanmar further toward true political reform, a bet that could bring major diplomatic and economic benefits for both countries after more than 50 years of estrangement. Obama's announcement that Secretary of State Hillary Clinton will visit Myanmar early next month marks a new stage of engagement with the country's new civilian government, which has enacted a series of reforms since it took over from the military after an election last year. ...


Insight: The Wall Street disconnect

photoNEW YORK (Reuters) - It was a telling moment at the height of the Occupy Wall Street protests. John Paulson, the hedge-fund trader who famously made billions betting on the collapse of the housing market, was threatened by the demonstrators with a march on his Upper East Side home in New York last month. Paulson responded by putting out a press release that described his $28 billion, 120-person fund as an exemplar of the American Dream: "Instead of vilifying our most successful businesses, we should be supporting them and encouraging them to remain in New York City. ...


Ex-UBS banker sentenced for aiding U.S. tax evasion

photoMIAMI (Reuters) - A former senior UBS banker who helped the U.S. government expand its crackdown on offshore tax evasion was sentenced to five years probation on Friday for advising wealthy Americans on ways to hide their money from U.S. tax authorities. Renzo Gadola, who worked at Swiss bank UBS AG from 1995 to 2008, pleaded guilty in December to charges of conspiracy to defraud the United States. Almost immediately after his arrest on November 8, 2010, Gadola started cooperating with U.S. ...


Italy's Monti wins definitive confidence vote

photoROME (Reuters) - Prime Minister Mario Monti won an overwhelming vote of confidence on Friday after warning politicians they would have to face the Italian public if they sabotaged a sweeping package of reforms aimed at ending an acute debt crisis. Monti won the vote by 556 to 61 after a similar comfortable vote in the upper house on Thursday. His unelected government of technocrats is now fully empowered. ...


Insight: Even Germany not immune to euro zone crisis

photoLONDON (Reuters) - German bonds have so far been viewed as the last bastion of safety in the euro zone sovereign debt markets but some prices are beginning to suggest their allure will not be eternal. A relentless rise in southern European countries' borrowing costs and the hefty premium they pay over Germany overshadowed an unusual development this week -- German yields rose as the euro zone crisis sucked in France and the Netherlands, rather than falling as they did when Italy fell victim. The yield premium that investors demand to hold 10-year U.S. ...


Even chance ECB to start printing money: Reuters poll

photoLONDON (Reuters) - The European Central Bank could soon bow to pressure to print money to prevent a further escalation of the euro zone's debt crisis, with respondents in a Reuters poll giving an even probability the ECB would adopt a policy of quantitative easing. The poll of 50 bond strategists across Europe and the United States conducted this week gave a median 48 percent probability that the ECB will be forced to conduct outright quantitative easing (QE). ...