Source Match International News
Oil stays near $96 before crude stocks report, Fed
EU bid to label Hezbollah wing terror group
Iran denies link to group arrested for spying in Saudi Arabia
Lowe's results miss estimates, underperforming Home Depot
By Dhanya Skariachan (Reuters) - Lowe's Cos Inc reported a
weaker-than-expected quarterly profit on Wednesday, hurt by
colder-than-usual weather at the start of the spring selling season
and strong competition from larger rival Home Depot Inc . The
results contrasted sharply with those of Home Depot and signaled
that Lowe's, the world's No. 2 home improvement chain, was still
struggling to narrow the performance gap with the industry leader.
Lowe's sales fell 0.5 percent to $13.09 billion in the first
quarter ended on May 3, missing the analysts' average estimate of
$13.45 billion. ...
Futures tick higher ahead of Bernanke testimony
NEW YORK (Reuters) - Stock futures edged up in thin trading
Wednesday, ahead of highly anticipated Congressional testimony by
Federal Reserve Chairman Ben Bernanke on the economy and monetary
policy. Bernanke is expected to strike a dovish tone when he
addresses a congressional committee at 10:00 a.m. EDT. Earlier on
Wednesday, influential New York Fed President William Dudley
reinforced his own remarks Tuesday, when he damped speculation that
the U.S. central bank was preparing to reduce its monetary
stimulus. The Fed's ultra loose monetary policy is one of the main
forces behind a rally in ...
Trial for captain in deadly shipwreck in Italy
Target's 1Q profit drops 26 pct on weak sales
Target first-quarter profit down on weather-related sales weakness
(Reuters) - Target Corp posted a 0.6 percent decline in
first-quarter sales at U.S. stores open at least a year on
Wednesday after warning investors one month ago that its results
would be disappointing as a chilly start to spring kept shoppers
from buying seasonal items such as clothing. Target earned $498
million, or 77 cents per share, in the first quarter ended on May
4, compared with a profit of $697 million, or $1.04 per share, a
year earlier. (Reporting by Jessica Wohl in Chicago; Editing by
Jeffrey Benkoe)
Ukraine PM bars reporters from government meetings after protest
KIEV (Reuters) - Ukrainian Prime Minister Mykola Azarov ordered
a dozen local reporters to be barred from covering government
meetings after they staged a silent protest on Wednesday over
physical attacks on journalists at a rally. "What kind of show is
this?" Azarov said when reporters who were attending a cabinet
meeting stepped in front of television cameras, turning their backs
on Azarov and his colleagues. Signs pinned to their backs read:
"Today it's a female journalist (beaten up), tomorrow - your wife,
sister, daughter. ...
Ireland feels the heat from Apple tax row
By Carmel Crimmins and Conor Humphries DUBLIN (Reuters) -
Ireland called on Wednesday for an international clampdown on
multinationals shifting profits around the world to avoid tax,
after criticism that Irish loopholes helped technology giant Apple
to shrink its tax bill. A U.S. Senate investigation into the tax
affairs of the maker of iPhones, iPads and Mac computers has shone
an uncomfortable spotlight on Ireland's tax regime and forced the
government to defend itself against accusations of being Europe's
onshore tax haven. ...
Syria opposition calls for reinforcements in embattled Qusair
Turkey shuts Syria border crossing after deadly bombings
UK coalition to last despite rifts, infighting: deputy PM
By Andrew Osborn LONDON (Reuters) - Britain's deputy prime
minister on Wednesday took the unusual step of holding a news
conference to say the country's two-party coalition would hold
together until 2015 as he tried to stabilize a government beset by
infighting and rifts. In a move that risks being cast as a sign of
weakness by political opponents, Nick Clegg, the leader of the
Liberal Democrats, the junior partner in the coalition, sought to
reassure voters that his alliance with Prime Minister David Cameron
would endure until the next national election. ...
UK wine retailer First Quench in $242 million pension risk deal
Mortar lands in Congo as UN chief arrives
Rescuers comb Oklahoma tornado rubble for buried survivors
By Ian Simpson and Alice Mannette MOORE, Oklahoma (Reuters) -
Rescue workers with sniffer dogs and searchlights combed through
the wreckage of a massive tornado to ensure no survivors remained
buried in the rubble of primary schools, homes and buildings in an
Oklahoma City suburb. The massive tornado on Monday afternoon
flattened blocks of the town, killed at least 24 people and injured
about 240 in Moore, just outside Oklahoma City. ...
North Korean leader sends special envoy to China
PYONGYANG, North Korea (AP) — After months of ignoring China's
warnings to give up its nuclear program, North Korean leader Kim
Jong Un sent a high-level confidant to Beijing on Wednesday, in a
possible effort to mend strained ties with its most important ally
and the latest sign that Pyongyang may be giving diplomacy a
chance.
Mugabe signs Zimbabwe constitution into law
HARARE (Reuters) - Zimbabwe President Robert Mugabe signed a
new constitution into law on Wednesday, replacing a 33-year-old
document forged in the dying days of British colonial rule and
paving the way for elections later this year. The constitution,
approved overwhelmingly in a referendum in March, clips the powers
of the president and imposes a two-term limit. However, it does not
apply retroactively so the 89-year-old Mugabe could extend his 33
years in power by another decade. ...
Vatican releases 1st report of financial watchdog
Too soon to dial back Fed stimulus: Dudley
(Reuters) - It is too soon to determine whether to dial down
the Federal Reserve's massive bond-buying program, and the economic
picture may not be clear enough to make that decision for another
three or four months, an influential U.S. central bank official
said. New York Fed President William Dudley, a close ally of
Chairman Ben Bernanke, said on Bloomberg TV that it was possible to
taper down the $85 billion in monthly asset purchases by the fall
"if the economy does better and if the labor market continues to
improve" in the face of tighter fiscal policies. ...
Mais non! French universities may teach in English
Iran, Hezbollah increasing support for Assad: Britain
AMMAN (Reuters) - British Foreign Secretary William Hague said
on Wednesday Iran and its militant Shi'ite Lebanese ally Hezbollah
were "propping up" Syrian President Bashar al-Assad and giving him
increasing support. "It is very clear that Syrian regime is
receiving a great deal of support, increasing support in recent
months from outside Syria from Hezbollah and Iran. This is a regime
that is increasingly dependent on external support," Hague said in
a news conference with his Jordanian counterpart Nasser Judeh.
...
Artillery lands in east Congo city, humanitarian camp
Toll Brothers profit rises 46 percent
(Reuters) - Toll Brothers Inc posted a 46 percent rise in
quarterly profit as the largest U.S. luxury homebuilder sold more
homes at higher prices, indicating that the housing recovery is
spreading across the industry. Record-low interest rates and rising
rents have encouraged people to buy homes. Ground-breaking to build
new homes in the United States rose 7 percent in March to the
highest level since June 2008. Toll said its quarterly orders were
the highest in seven years. ...
EU leaders shine spotlight on Amazon, Google over tax policy
By Luke Baker BRUSSELS (Reuters) - European leaders will
discuss how to combat aggressive tax avoidance by major companies
such as Amazon, Google and Apple at a summit on Wednesday, and cut
the estimated 1 trillion euros a year the EU loses to tax evasion
or avoidance. The four-hour summit was originally called to discuss
energy policy, but investigations in Britain, France and the United
States exposing how little tax major international companies have
been paying by carefully structuring their European operations has
forced the issue to the top of the agenda. ...
Afghanistan's Karzai gives India military equipment 'wish list'
By Ross Colvin NEW DELHI (Reuters) - Afghan President Hamid
Karzai said on Wednesday he had given a "wish list" of military
equipment to India during a visit this week, presenting a conundrum
for New Delhi as it weighs whether arming the Afghan army is in its
interests. India wants to stabilize Afghanistan and is concerned
about the resurgence of militant groups after foreign combat troops
leave in 2014. But arming Afghanistan would alarm Pakistan. It
takes issue with the influence of its old rival in Afghanistan.
...
UK regulator says satisfied with Lloyds, RBS capital plans
LONDON (Reuters) - Britain's financial regulator said it had
finalized capital requirements for Royal Bank of Scotland and
Lloyds Banking Group and was comfortable with their plans. The
Prudential Regulation Authority said it would release more
information when it had concluded discussions with all banks,
including, where necessary, if banks need to take steps to meet any
shortfalls. Lloyds and RBS each said on Wednesday they did not need
to issue more equity, and would meet extra capital needs by selling
assets and through retained earnings and restructuring plans that
are underway. ...
Bank of Japan vows market steps to curb bond turbulence
By Stanley White TOKYO (Reuters) - The Bank of Japan vowed on
Wednesday to take necessary steps to reduce volatility in bond
markets that has threatened to jeopardize the government's fight to
end deflation and revive growth. The central bank upgraded its
assessment of the economy for a fifth straight month, saying it
"has started picking up," as Prime Minister Shinzo Abe's policy
prescription of aggressive fiscal and monetary stimulus has boosted
sentiment and a weaker yen has halted a decline in exports. ...
Weak yen a help for Japan, but headache elsewhere
TOKYO (AP) — A steady decline in the yen is proving a godsend
for exporters such as Toyota and has won solid support from Japan's
main trading partners, who are betting the impact on their own
currencies will be offset by gains from a recovery in the world's
third-largest economy. It's not such good news for entrepreneurs
like Thamonwan Thawornthaweewong, whose Angry Bird fish balls,
squid rings and other products now cost more to sell in Japan.
Who's to blame for murky regulation in IRS scandal: Agency or lawmakers?
Tornado Warning: Despite Oklahoma Alert, U.S. Weather Forecasting Service Needs Major Upgrades
Oklahoma tornado was a monster, but it wasn't a record-breaker
MLS deal with billionaire oil sheikh could be bigger than Beckham