Bonds hold gains after Case-Shiller data
NEW YORK (Reuters) - U.S. government debt prices held steady at higher levels early Tuesday after U.S. home price data for March from S&P/Case-Shiller came within market expectations, suggesting some stabilization in the struggling real estate market. Benchmark 10-year Treasury notes last traded up 6/32 in price, yielding 1.73 percent, down 2 basis points from late on Friday. U.S. financial markets were closed on Monday for the Memorial Day holiday. (Reporting by Richard Leong; Editing by James Dalgleish)
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Home prices inch higher in March: S&P
NEW YORK (Reuters) - Single-family home prices edged higher in March, the second month in row of gains, adding to signs the housing market is stabilizing, a closely watched survey said on Tuesday. The S&P/Case Shiller composite index of 20 metropolitan areas gained 0.1 percent in March on a seasonally adjusted basis, falling shy of economists' forecasts for a gain of 0.2 percent. On an unadjusted basis, the index was unchanged. Prices in the 20 cities fell 2.6 percent from a year ago, an improvement from the 3.5 percent yearly decline seen last month. U.S. ...Read More ...
Instant View: Home prices edge up in March: S&P
NEW YORK (Reuters) - Single-family home prices edged higher in March, the second month of gains in a row, adding on to signs the housing market is stabilizing, a closely watched survey said on Tuesday. STORY: COMMENTS: TIM GHRISKEY, CHIEF INVESTMENT OFFICER OF SOLARIS ASSET MANAGEMENT IN BEDFORD HILLS, NEW YORK "Basically in-line, still a downward progression in house prices, at least from this 20-city index...what we hear is that houses are transacting, there are transactions being done but prices aren't coming up at all. ...
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Opera would cost Facebook over $1 billion: analysts
OSLO (Reuters) - Opera Software would cost Facebook over $1 billion as competition from Google and others could push up the price tag, analysts said on Tuesday, as takeover talk pushed the shares up as much as 26 percent on Tuesday. Oslo-listed Opera, coveted for its advanced mobile phone software technology, would be a perfect fit for Facebook but the firm's business is also vital for some of the industry's biggest players so any bid is likely to attract others to the table. "Opera would be sensible for Facebook on several levels," Arctic Securities said. ...Read More ...
CNN hiring chef Anthony Bourdain for weekend show
CNN is hiring a chef.
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AP NewsAlert
Myanmar opposition leader Suu Kyi arrives in Thailand on first foreign trip in 24 years.Read More ...
Consumer confidence cools in May
NEW YORK (Reuters) - U.S. consumer confidence unexpectedly cooled in May, falling to the lowest level in four months as Americans became more pessimistic about the job market and economic outlook, according to a private sector report released on Tuesday. The Conference Board, an industry group, said its index of consumer attitudes fell to 64.9 from a downwardly revised 68.7 the month before, short of expectations for a gain to 70.0. It was the lowest level since January. April's figure was originally reported as 69.2. The expectations index fell to 77.6 from 80. ...
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Dollar briefly slips versus yen after consumer data
NEW YORK (Reuters) - The dollar briefly slipped against the yen on Tuesday after data showed U.S. consumer confidence unexpectedly fell to its lowest level in four months. The dollar fell as low as 79.37 yen, before rebounding to trade at 79.45 yen, little changed on the day. (Editing by James Dalgleish)
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Instant View: Consumer confidence cools in May
NEW YORK (Reuters) - Consumer confidence unexpectedly cooled in May, falling to the lowest level in four months as Americans became more pessimistic about the job market and economic outlook, according to a private sector report released on Tuesday. COMMENTS: MICHAEL MORAN, CHIEF ECONOMIST, DAIWA SECURITIES AMERICA, NEW YORK "It's a disappointing report, but not a catastrophic one. We lost a good bit of ground in May, but the index was still in the upper end of its recent range. ...
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John Edwards jury resumes deliberation for 7th day
The jury in the John Edwards campaign corruption trial is deliberating for a seventh day after a judge gave the panel a stern warning not to talk about the case over the weekend.Read More ...
Stocks open higher on hopes for China stimulus
Stocks opened higher on Wall street Tuesday on optimism that China will take action to reverse the recent slowdown in its economic growth. Homebuilders rose on news that home prices rose for the first time in seven months.
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Italian quakes rock wealthy region, national economy
ROME (Reuters) - The second powerful earthquake to hit Italy in little over a week has carved a swathe of destruction across one of the country's richest and most productive regions and given a fresh headache to an economy already deep in recession. Emilia Romagna, the northern region hit by the quake, is home to some of Italy's best-known brands, including the world's biggest pasta maker Barilla, high-performance Ferrari sports cars, and motorcycle maker Ducati Motor Holding. ...
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Kremlin berates 'undiplomatic' US envoy
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Myanmar's Suu Kyi begins landmark foreign trip
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Global stocks gain on hopes for fresh Europe debt action
NEW YORK (Reuters) - Global equity markets rebounded on Tuesday on signs of fresh action to turn the tide of Europe's debilitating debt crisis, but bond prices held on to slim gains on concerns about Spain's banking system and its fast-deteriorating public finances. Wall Street opened higher and European stocks extended their gains, with Spanish stocks trimming heavy losses, on mounting hopes the European Central Bank will help ailing euro zone banks, traders said. ...Read More ...
US expels top Syrian diplomat to protest massacre
The Obama administration is expelling Syria's most senior envoy in Washington, joining a host of other governments in kicking out Syrian diplomats to protest last week's gruesome massacre in which entire families, including children, were shot execution-style in their homes.
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Samsung Galaxy S3 gets head start on rival iPhone
SEOUL/LONDON (Reuters) - Samsung Electronics launched its top-of-the-range Galaxy S3 smartphone in Europe on Tuesday, aiming to outsell its previous model that helped the South Korean company topple Apple as the world's largest smartphone maker. The Galaxy S3, which tracks the user's eye movements to keep the screen from dimming or turning off while in use, hits stores in 28 European and Middle East countries, including Germany, as Samsung aims to increase its lead over Apple months ahead of its new iPhone, expected in the third quarter. ...Read More ...
Court won't block suit in Minn. bridge collapse
The Supreme Court will not block Minnesota's lawsuit against a California design firm over the deadly 2007 interstate bridge collapse in Minneapolis that killed 13 people.
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Egypt Brotherhood candidate woos rivals for vote
CAIRO (Reuters) - The Muslim Brotherhood candidate in Egypt's presidential election run-off sought to broaden his appeal on Tuesday, promising he would govern in coalition with others and would not impose Islamic strictures such as the veil on women. Mohamed Mursi, 60, who is competing against former air force chief Ahmed Shafiq, 70, a former cohort of ousted president Hosni Mubarak, listed concessions to win support from rival politicians and groups. "I am committed to the presidency being an institution. ...
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Panetta: Asia is the 'project' for new Navy grads
The Pentagon chief says building U.S. maritime strength across the Asia-Pacific will be the main project of the new generation of America's naval officers.
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Somali rebels ambush presidential convoy, no casualties
MOGADISHU (Reuters) - Somalia's al Shabaab rebels ambushed an armoured convoy carrying the country's president during a rare overland trip outside the capital on Tuesday, a Reuters witness said. President Sheikh Sharif Ahmed was unharmed in the attack which occurred on the outskirts of Elasha town, located between Mogadishu and the former rebel stronghold of Afgoye, about 30 km (18 miles) northwest of the city. "The fighting split the convoy. Vehicles scattered in different directions," a Reuters photographer travelling with the convoy said. ...
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US consumer confidence dips
Americans became slightly more pessimistic about the economy in May, a survey showed Tuesday, with consumers saying their opinion of the current situation and expectations of the future had weakened.Read More ...
Dairies pamper cows with massages, waterbeds
Lucky, a 7-year-old dairy cow, had been walking with a limp for several weeks when veterinarian Sara Gilbertson was called. Instead of prescribing painkillers, Gilbertson tried an unusual new therapy — a chiropractic adjustment that included a full-length spinal massage.Read More ...
Consumer confidence plunges in May
Americans' confidence in the economy in May had its biggest drop in eight months as consumers fretted about slow hiring, a big stock market drop and the global economy, says a private research group.
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Bangladeshi journalists in terrifying machete attack
Nine journalists were wounded when a gang of men wielding machetes stormed Bangladesh's best-known online media outlet and began slashing staff, police and witnesses said Tuesday.Read More ...
Somali farmers rejoice at end of militant tax
The farmers in Afgoye, a town on the outskirts of Mogadishu long controlled by militants, are rejoicing at the African Union's latest success: The capture of Afgoye — the biggest military success in Somalia since militants abandoned Mogadishu last August.
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High court turns down former hostages in Iran
The Supreme Court has declined to revive a lawsuit against Iran filed by Americans held hostage at the U.S. Embassy in Tehran more than 30 years ago.
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Record drop in retail sales adds to Spain's woes
A record drop in retail sales added to Spain's economic woes on Tuesday as the government struggled to increase confidence in the crippled banking industry and investors remained wary of the country's ability to manage its debt.Read More ...
Suu Kyi, in Myanmar since 1988, starts world tour
For 24 years, Aung San Suu Kyi was either under house arrest or too fearful that if she left Myanmar, the government would never let her return.
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AP Exclusive: Calif. 9/11 fund raided for deficits
After the 2001 terrorist attacks, California lawmakers sought a way to channel the patriotic fervor and use it to help victims' families and law enforcement. Their answer: specialty memorial license plates emblazoned with the words, "We Will Never Forget."Read More ...
NATO kills senior al-Qaida leader in Afghanistan
The U.S.-led NATO force in Afghanistan killed al-Qaida's second-highest leader in the country in an airstrike in eastern Kunar province, the coalition said Tuesday.Read More ...
Obama to honor Medal of Freedom recipients
President Barack Obama will honor a diverse cross-section of political and cultural icons — including former Secretary of State Madeleine Albright, astronaut John Glenn, basketball coach Pat Summitt and rock legend Bob Dylan — with the Medal of Freedom at a White House ceremony Tuesday.Read More ...
US law firm Dewey & LeBoeuf files for bankruptcy
US law firm Dewey & LeBoeuf has filed for bankruptcy after a partner exodus, in what the New York Times called the biggest law firm collapse in US history.Read More ...
Qatar probes mall fire as young victims mourned
Investigators in Qatar carried out their first extensive probes through a fire-ravaged daycare center and other charred areas inside the country's biggest mall Tuesday after a blaze that killed 19 people, including 13 children.Read More ...
Analysis: JPMorgan dips into cookie jar to offset "London Whale" losses
NEW YORK (Reuters) - JPMorgan Chase & Co has sold an estimated $25 billion of profitable securities in an effort to prop up earnings after suffering trading losses tied to the bank's now-infamous "London Whale," compounding the cost of those trades. CEO Jamie Dimon earlier this month said the bank sold corporate bonds and other securities, pocketing $1 billion in gains that will help offset more than $2 billion in losses. As a result, the bank will not have to report as big an earnings hit for the second quarter. ...Read More ...
Mali rebels' accord stumbles over sharia
BAMAKO (Reuters) - An agreement between northern Mali's MNLA Tuareg rebels and al Qaeda-linked Islamist group Ansar Dine to create an Islamic state in the vast Azawad desert has run into trouble over how strictly to impose sharia law, MNLA sources said on Tuesday. The separatist MNLA group wants a moderate form of sharia, while Ansar Dine is seeking to impose a more hardline version involving punishments that include the amputation of hands and heads for certain crimes, the sources said. "We want sharia law similar to that in Mauritania or even Egypt. ...
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Judge excuses 3rd juror in Roger Clemens trial
The federal judge in the perjury trial against former major league pitcher Roger Clemens has excused a third juror, leaving just one alternate as the trial enters its seventh week.Read More ...
Annan warns Syria of grave concern, West pulls envoys
BEIRUT (Reuters) - Peace envoy Kofi Annan expressed "grave concern" to Syria's President Bashar al-Assad on Tuesday and Western nations threw out its envoys to protest against a massacre of 108 civilians, many of them children, in the town of Houla. France, Britain, Canada, Germany, Italy, Spain and Australia said they were expelling the Syrian envoys from their capitals in a move that was coordinated with the United States and underlined Assad's diplomatic isolation. ...Read More ...
Assad: "terrorist groups" behind rise in violence:TV
BEIRUT (Reuters) - Syrian state television said President Bashar al-Assad told peace envoy Kofi Annan on Tuesday that "terrorist groups" had stepped up activities including killing and kidnapping across the country. In a headline flashed over its programming, the station said states that fund, arm and harbor terrorists must abide by the plan put forward six weeks ago by Annan. He was in Damascus attempting to salvage it after a massacre which the United Nations says killed 108 people in central Syria last week. (Writing by Joseph Logan; Editing by Alison Williams)
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UN: Most of 108 killed in Syria were executed
The U.N.'s human rights office said Tuesday that most of the 108 victims of a chilling massacre in Syria last week were shot at close range, some of them women and children who were gunned down in their homes.Read More ...
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