NEW YORK (Reuters) - Barely a day went by at the insider-trading trial of multimillionaire hedge-fund founder Raj Rajaratnam a year ago without mention of Rajat Gupta, a boldface name in business and charity circles. On Monday in the same federal court in New York, it will be Gupta's turn to go on trial. The former Goldman Sachs Group Inc and Procter & Gamble board member is accused of leaking stock secrets to Rajaratnam, his erstwhile friend and business associate who was convicted and is now in prison. ...
MADRID (Reuters) - Spain said on Monday it would meet its deficit targets this year despite a new slippage in its regions' accounts and a further contraction of the economy in the second quarter. Economy Minister Luis de Guindos said economic activity would likely slump by another 0.3 percent between April and June, further fuelling doubts about the country's ability to get a grip on in its finances and nurse an ailing banking sector back to health. ...
TRIPOLI (Reuters) - The Libyan convicted of the 1988 bombing of a PanAm flight over Lockerbie will be buried on Monday in a quiet ceremony that Libyans hope will allow them to leave behind the controversy that surrounded him in life. Abdel Basset al-Megrahi, who always said he was not responsible for bringing down the jumbo jet on the Scottish town and killing 270 people, died in his bed in Tripoli on Sunday surrounded by family. His release from jail in 2009 caused huge controversy in Britain and the United States, where most of the victims were from. ...
European stocks inched up Monday morning in spite of investors' lingering concerns that the G-8 leaders had failed to provide a concrete plan to solve the European debt crisis.
NEW YORK (Reuters) - Newly issued shares in Facebook Inc may have a hard time in the coming week if lead underwriter Morgan Stanley stops supporting the stock and managers lower down in the IPO book who were hoping for an early surge decide to get out before going underwater. Facebook on Friday sold 421 million shares of stock in a deal that valued the company at more than $100 billion. But investors, expecting a first-day pop in price, instead saw it close just 0.6 percent above the IPO price at $38.23. ...
LONDON (Reuters) - Britain's Barclays Plc said it is to sell all of its $6.1 billion stake in U.S. asset manager BlackRock Inc., which it has held for almost three years. Barclays said the shares would be sold by way of an offering and a related buyback by BlackRock of up to $1 billion of the stock. A prospectus was filed by BlackRock on Monday. Barclays holds BlackRock common stock and convertible stock that represent 19.6 percent economic interest in the firm. The holding dates from the UK bank's sale of Barclays Global Investors to BlackRock in June 2009. ...
A German official made clear on Monday that Berlin continues to oppose the idea of jointly-issued bonds for the 17-nation eurozone, which France's new president had suggested could be used to create much-needed economic growth and ease the region's financial crisis.
VIENNA/DUBAI (Reuters) - The U.N. nuclear watchdog chief began rare talks in Tehran on Monday after voicing hope for a deal to investigate suspected atomic bomb research - a gesture Iran might make to try to get international sanctions relaxed and deflect threats of war. International Atomic Energy Agency Director-General Yukiya Amano met the head of Iran's nuclear energy organization, Fereydoun Abbasi-Davani, hours after his pre-dawn arrival, according to ISNA news agency. ...
VIENNA/DUBAI (Reuters) - The U.N. nuclear watchdog chief began rare talks in Tehran on Monday after voicing hope for a deal to investigate suspected atomic bomb research - a gesture Iran might make to try to get international sanctions relaxed and deflect threats of war. International Atomic Energy Agency Director-General Yukiya Amano met the head of Iran's nuclear energy organization, Fereydoun Abbasi-Davani, hours after his pre-dawn arrival, according to ISNA news agency. ...
Spain's economy minister says a nationalized bank laden with toxic real estate assets will require a fresh injection of public money of up to €7.5 billion ($9.6 billion), but dismissed suggestions from France that the banking sector as a whole needs to be bolstered with European money.
Street battles between pro- and anti-Syrian groups in the Lebanese capital killed two people overnight and wounded 15 as the spiraling conflict in neighboring Syria spilled across the border.
Athens (Reuters) - "Gentlemen, we are finished," said the patrician President, calling an abrupt halt to two hours of baiting and cat-calling between furious Greek politicians. "I'm starting to get upset myself now. We are finished." The final collapse of talks to forge a new Greek government triggered repeat elections and fears of a chaotic exit from the euro zone. But it is the manner of that collapse, the acrimony and rancor cited by Karolos Papoulias, that bodes ill for efforts after June polls to pull Greece back from the brink. ...
Athens (Reuters) - "Gentlemen, we are finished," said the patrician President, calling an abrupt halt to two hours of baiting and cat-calling between furious Greek politicians. "I'm starting to get upset myself now. We are finished." The final collapse of talks to forge a new Greek government triggered repeat elections and fears of a chaotic exit from the euro zone. But it is the manner of that collapse, the acrimony and rancor cited by Karolos Papoulias, that bodes ill for efforts after June polls to pull Greece back from the brink. ...
TOKYO (Reuters) - Japan will start negotiations on an investment treaty with Myanmar on Wednesday, the trade ministry said, as corporations around the world scramble to do business in one of the last frontier markets in response to encouraging political reforms. The earliest possibility for an agreement would be a November summit of the Association of South East Asian Nations (ASEAN) and Japan in Cambodia, although the trade ministry said there was no pre-set schedule. ...
TOKYO (Reuters) - Japan will start negotiations on an investment treaty with Myanmar on Wednesday, the trade ministry said, as corporations around the world scramble to do business in one of the last frontier markets in response to encouraging political reforms. The earliest possibility for an agreement would be a November summit of the Association of South East Asian Nations (ASEAN) and Japan in Cambodia, although the trade ministry said there was no pre-set schedule. ...
(Reuters) - DaVita Inc , the biggest U.S. operator of dialysis clinics, has agreed to buy privately-held HealthCare Partners for about $4.42 billion in cash and stock to expand into new markets to help offset potential revenue pressures in its main business. HealthCare Partners, based in Torrance, California, runs medical groups and physician networks in Southern California, Central Florida, and Southern Nevada. Its revenues in 2011 were about $2.4 billion. The company provides its services to more than 667,000 patients and has total care dollars under management of about $3. ...
CANNES, France (Reuters) - The Cannes film festival is a world way from the tough streets of east London where British rapper Ben Drew grew up, but the 28-year-old has come to the glamorous Riviera resort to promote his debut movie "Ill Manors". The hard-hitting drama follows six interweaving lives -- junkie, drug dealer, ex-con, gangster, prostitute and central character Aaron, a kind of moral compass amid the violence, fear and abuse around him. ...
Assurances that world powers want debt-laden Greece to remain in the euro helped support world stock markets Monday after sharp losses over the past week.
LONDON (Reuters) - European shares and the euro steadied near their lows for the year on Monday as investor fears that Greece could leave the euro were partly countered by promises from China and the Group of Eight leaders at the weekend to support growth. The FTSE Eurofirst index of top European shares was around 0.4 percent higher at 974.03 points after losing 5.1 percent last week to reach its lowest level of the year. ...
BEIRUT (Reuters) - At least two people were killed in heavy fighting between rival Sunni Muslim gunmen in Beirut on Monday, medical and security sources said, in the latest violence fuelled by tensions over the uprising against Syrian President Bashar al-Assad. The clashes followed the killing of an anti-Assad Sunni cleric and his colleague at an army checkpoint in north Lebanon on Sunday, triggering angry protests in Sunni districts of northern cities and the capital. ...
BEIRUT (Reuters) - At least two people were killed in heavy fighting between rival Sunni Muslim gunmen in Beirut on Monday, medical and security sources said, in the latest violence fuelled by tensions over the uprising against Syrian President Bashar al-Assad. The clashes followed the killing of an anti-Assad Sunni cleric and his colleague at an army checkpoint in north Lebanon on Sunday, triggering angry protests in Sunni districts of northern cities and the capital. ...
SANAA (Reuters) - A uniformed man blew himself up in the midst of a military parade rehearsal attended by senior officials in the Yemeni capital Sanaa on Monday, killing at least 41 people and wounding more than 60, a police source said. Yemen's defense minister chief of staff were present at the event but were not hurt in the blast, a military source said. The attack coincided with a U.S.-backed Yemeni army offensive against al Qaeda-linked militants in the south of the country, where they control several towns. Troops closed in on one of their strongholds on Sunday in heavy fighting. ...
SANAA (Reuters) - A uniformed man blew himself up in the midst of a military parade rehearsal attended by senior officials in the Yemeni capital Sanaa on Monday, killing at least 41 people and wounding more than 60, a police source said. Yemen's defense minister chief of staff were present at the event but were not hurt in the blast, a military source said. The attack coincided with a U.S.-backed Yemeni army offensive against al Qaeda-linked militants in the south of the country, where they control several towns. Troops closed in on one of their strongholds on Sunday in heavy fighting. ...
DUBAI (Reuters) - A court in Bahrain on Monday fined Zainab al-Khawaja, the daughter of a prominent opposition activist, for insulting a government employee and her lawyer said she was still detained pending trial in a different case. Bahrain, a U.S. ally that hosts Washington's Fifth Fleet, has been in turmoil since a democracy protest movement led by its majority Shi'ites erupted last year after revolts in Egypt and Tunisia. Its Sunni Muslim rulers have rejected opposition calls for an elected government and protests and clashes with police continue weekly. ...
KHARKIV, Ukraine (Reuters) - A court in Ukraine on Monday adjourned a trial of jailed former prime minister Yulia Tymoshenko on a new charge of tax evasion until June 25, when the European soccer championship will be under way in the country, for medical reasons. Tymoshenko is being treated for back trouble in a clinic in the city of Kharkiv near the prison where she is serving a seven-year sentence for abuse-of-office in a case which the West has condemned as politically motivated. ...
KHARKIV, Ukraine (Reuters) - A court in Ukraine on Monday adjourned a trial of jailed former prime minister Yulia Tymoshenko on a new charge of tax evasion until June 25, when the European soccer championship will be under way in the country, for medical reasons. Tymoshenko is being treated for back trouble in a clinic in the city of Kharkiv near the prison where she is serving a seven-year sentence for abuse-of-office in a case which the West has condemned as politically motivated. ...
Struggling Internet company Yahoo Inc. has secured a lifeline after agreeing to sell half of its prized stake in Chinese e-commerce group Alibaba for about $7.1 billion, with most of the cash going to shareholders.
Greece's newly installed caretaker prime minister is holding talks with party leaders ahead of Wednesday's European Union summit as campaigning gets underway for next month's elections.
Greece's newly installed caretaker prime minister is holding talks with party leaders ahead of Wednesday's European Union summit as campaigning gets underway for next month's elections.
Budget airline Ryanair reported record profits Monday as its recession-resistant business model continued to attract passengers from higher-fare carriers amid Europe's debt crisis.
Three climbers who were among scores who scaled Mount Everest over the weekend died on their descent and two more are missing, a Nepalese official said Monday.
The top U.S. envoy for North Korea warned Pyongyang on Monday that any nuclear test would be a serious miscalculation that would unify the world in seeking swift, tough punishment.
BEIJING (Reuters) - China's focus on fine-tuning monetary and fiscal policies to fight the risk of a sudden economic slide worries investors pricing in a sixth successive quarter of slowing growth with no obvious sign of the solid stimulus they want. With domestic activity stifled by government curbs on real-estate speculation, the potential damage to demand for China's factory products from a deeper European debt crisis seems a logical justification for a spending splurge. "Maybe it would be easier for China if there were another global financial crisis. ...
BEIJING (Reuters) - China's focus on fine-tuning monetary and fiscal policies to fight the risk of a sudden economic slide worries investors pricing in a sixth successive quarter of slowing growth with no obvious sign of the solid stimulus they want. With domestic activity stifled by government curbs on real-estate speculation, the potential damage to demand for China's factory products from a deeper European debt crisis seems a logical justification for a spending splurge. "Maybe it would be easier for China if there were another global financial crisis. ...
MOSCOW (Reuters) - Russian President Vladimir Putin will unveil a government dominated by loyalists on Monday, leaving Prime Minister Dmitry Medvedev limited scope to pursue his reform agenda and entrenching the Kremlin's grip over the economy's commanding heights. Medvedev, 46, named premier after Putin returned to the Kremlin on May 7, has pledged to launch pro-growth policies and a privatisation drive to wean Russia's $1.7 billion economy off its dependence on oil. ...
PARIS (Reuters) - Stock index futures pointed to a higher open on Wall Street on Monday, with futures for the S&P 500 up 0.85 percent, Dow Jones futures up 0.49 percent and Nasdaq 100 futures up 0.79 percent at 0842 GMT. European stocks were up 0.5 percent in morning trade on Monday following a dismal week, but gains were capped by lingering worries over the future of Greece into the euro zone. ...
An Israeli human rights group has released a video suggesting Israeli soldiers stood by while Jewish settlers opened fire on Palestinians in the West Bank, wounding one.
FINALE EMILIA, Italy (Reuters) - Thousands of people in northern Italy slept in tents and cars overnight as more than 100 aftershocks rocked the area hit by a magnitude 6.0 earthquake that killed seven people and inflicted heavy damage to centuries-old cultural sites. "The fear that your house will collapse on your head is great, so it was good to be able to sleep in this tent," said one man who spent the night outdoors, cold but safe, in the town of San Felice Sul Panaro. ...