• Soccer-Beckham looks to the future to improve Chinese game

    Reuters - 5 mins ago

    SHANGHAI, June 20 (Reuters) - Chinese football ambassador David Beckham drew a line under the country's shady soccer history on Thursday, saying he hoped to inspire the local children back to the sport. Appointed in March, shortly before the start of the new Chinese Super League season, the former England captain faces a tough task with local soccer still in a quagmire following the latest in a long line of graft issues. ... More »Soccer-Beckham looks to the future to improve Chinese game

  • Euro zone business slump eases but second quarter contraction likely: PMI

    Reuters - 6 mins ago

    By Jonathan Cable LONDON (Reuters) - The euro zone's private sector slump has eased more than expected this month, business surveys showed on Thursday, but a continued slide in new orders suggested a full recovery is still some way off. The data will come as good news for the European Central Bank as the decline eased across the 17-nation bloc. Markit's Flash Eurozone Composite Purchasing Managers' Index, which makes up around 85 percent of the final reading and is seen as a reliable economic growth indicator for the bloc, rose to 48.9 in June from May's 47.7. ... More »Euro zone business slump eases but second quarter contraction likely: PMI

  • Bonds, shares slump as Fed signals end to stimulus

    Reuters - 14 mins ago

    By Richard Hubbard LONDON (Reuters) - Bonds, shares and commodities fell sharply around the world on Thursday and the dollar rose after the U.S. Federal Reserve explicitly signaled an end to easy money and data showed China's economy slowing down. The sell-off began after Fed chairman Ben Bernanke confirmed that U.S. economic growth was strong enough to begin tapering back on its $85 billion in monthly asset purchases later this year. ... More »Bonds, shares slump as Fed signals end to stimulus

  • South Sudan president suspends two ministers in fraud inquiry

    Reuters - 14 mins ago

    By Andrew Green JUBA (Reuters) - South Sudanese President Salva Kiir has suspended two key ministers in a fraud investigation, the government said on Wednesday. Western donors have warned South Sudan's government that aid payments are at risk unless it tackles the corruption undermining development in a country devastated from decades of civil war with Sudan, from which it seceded in 2011. Last year, Kiir wrote to 75 current and former officials to ask them to return $4 billion in "stolen" public money, but no senior figure had been publicly put under investigation until now. ... More »South Sudan president suspends two ministers in fraud inquiry

  • U.S.-Taliban talks in Qatar not expected Thursday: source

    Reuters - 16 mins ago

    DOHA (Reuters) - Preliminary Afghan peace talks in Qatar between U.S. and Taliban officials are unlikely to take place on Thursday as had been expected, a source familiar with the matter told Reuters. Asked if the meeting would happen on Thursday, the source replied: "There is nothing scheduled that I am aware of." Asked if that meant they would not happen today, the source added: "Yes that's correct." A senior U.S. ... More »U.S.-Taliban talks in Qatar not expected Thursday: source

  • Syria's warring sides trade wheat for flour

    Reuters - 17 mins ago

    By Oliver Holmes and Alexander Dziadosz IDLIB PROVINCE, Syria (Reuters) - Away from the battlefield, some Syrian rebels are doing business with the same government they are trying to topple. Both sides want to keep providing basics like bread, fuel and water in the areas they control. When shifting front lines split up supply chains, they started to trade. In the northwestern Idlib province, rebels control most of the wheat fields but have no way to grind the grain into flour. The government has the flour mill, but can't get enough wheat to supply it. The two worked out a deal. ... More »Syria's warring sides trade wheat for flour

  • Airbus pieces together air show order finale

    Reuters - 19 mins ago

    PARIS (Reuters) - European planemaker Airbus sought to finalize a flurry of orders on Thursday to avoid a rare defeat to U.S. arch-rival Boeing at its domestic Paris Airshow. As of Wednesday, Airbus lagged its competitor with 211 firm orders against 265 for Boeing. Airbus had commitments for a further 165 jets, compared with 127 for Boeing. The order tallies from both planemakers included major purchases of narrowbody medium-haul jets from Europe's two biggest low-cost carriers, Ryanair and easyJet . ... More »Airbus pieces together air show order finale

  • South Africa's Cipla Medpro appoints joint acting CEOs

    Reuters - 23 mins ago

    JOHANNESBURG (Reuters) - Cipla Medpro South Africa, the drug firm being taken over by India's Cipla Medpro, said on Thursday it had promoted its two deputy chief executives to serve as joint CEOs on a temporary basis. Skhumbuzo Ngozwana and Mark James van Lill Sardi will take over as joint acting chief executives from July 1, the company said, until a permanent chief executive is found. They will replace acting CEO Johan du Preez. More »South Africa's Cipla Medpro appoints joint acting CEOs

  • Protest-inspired Neymar shines in Brazil win

    Reuters - 37 mins ago

    By Tatiana Ramil FORTALEZA, Brazil (Reuters) - Neymar, inspired by the protest movement which has swept Brazil in the last few days, gave possibly his best performance for his country in a 2-0 win over Mexico in the Confederations Cup on Wednesday. The Barcelona-bound 21-year-old, who has often struggled at international level despite his billing as the next great Brazilian player, set the hosts on their way with a stunning volley in the ninth minute, the second game in a row that he has got them off to a flying start. ... More »Protest-inspired Neymar shines in Brazil win

  • Italy overhaul Japan to reach Confederation Cup semis

    Reuters - 41 mins ago

    By Andrew Downie RECIFE, Brazil (Reuters) - Substitute Sebastian Giovinco tapped in a late goal to secure Italy a thrilling 4-3 win over Japan on Wednesday and a semi-final berth in the Confederations Cup. Giovinco slotted home the winner in the 86th minute after latching onto a cross in the area, capping a pulsating contest that saw the Azzurri edge ahead with three consecutive goals after trailing 2-0 before halftime. ... More »Italy overhaul Japan to reach Confederation Cup semis

  • Serena Williams apologizes for rape case remark

    Reuters - 42 mins ago

    (Reuters) - Serena Williams has apologized for comments she made in a forthcoming interview in which she appeared to assign blame to the 16-year-old victim in the Steubenville, Ohio, rape case for being drunk. The comments were reported in an interview with Rolling Stone magazine and stirred up U.S. media attention on Wednesday. "What happened in Steubenville was a real shock for me. I was deeply saddened," the women's world number one said in a statement on her website. ... More »Serena Williams apologizes for rape case remark

  • Nigeria will probably pay 6 pct yield for Eurobond: analysts

    Reuters - 47 mins ago

    By Chijioke Ohuocha and Sujata Rao LAGOS/LONDON (Reuters) - Nigeria will likely have to pay around 6 percent for a 10-year maturity on its $1 billion Eurobond if it goes ahead with the issue after a debt meeting with investors next week, an analyst and a fund manager said on Wednesday. Senior Nigerian government officials led by Finance Minister Ngozi Okonjo-Iweala started a one-week roadshow to Britain, Germany and the United States on Wednesday with book-runners for the Eurobond, with a view to issuing it this year. ... More »Nigeria will probably pay 6 pct yield for Eurobond: analysts

  • South Africa's rand weakens as Fed heralds end to stimulus

    Reuters - 51 mins ago

    JOHANNESBURG (Reuters) - South Africa's rand weakened in early trade on Thursday, extending an overnight fall in New York after the U.S. Federal Reserve signaled an end to its stimulus programme, which has boosted appetite for high-yielding emerging market assets. The rand was at 10.2455 against the dollar at 0641 GMT, 0.54 percent weaker than its New York close and a sharp drop from 9.91, its firmest level in Johannesburg afternoon trade on Wednesday. The U.S. ... More »South Africa's rand weakens as Fed heralds end to stimulus

  • Toews on target and Blackhawks back on track

    Reuters - 55 mins ago

    By Steve Keating BOSTON (Reuters) - Chicago Blackhawks captain Jonathan Toews is what coaches like to call a "complete" ice hockey player. Defensively responsible, hard working, a leader and a playmaker, Toews has been all these things but mostly he is a goal scorer. On Wednesday he did what the Blackhawks expect him to do and scored a second period goal against the Boston Bruins in a 6-5 overtime win that leveled the Stanley Cup Final at 2-2. ... More »Toews on target and Blackhawks back on track

  • NHL-Toews on target and Blackhawks back on track

    Reuters - 57 mins ago

    By Steve Keating BOSTON, June 20 (Reuters) - Chicago Blackhawks captain Jonathan Toews is what coaches like to call a "complete" ice hockey player. Defensively responsible, hard working, a leader and a playmaker, Toews has been all these things but mostly he is a goal scorer. On Wednesday he did what the Blackhawks expect him to do and scored a second period goal against the Boston Bruins in a 6-5 overtime win that leveled the Stanley Cup Final at 2-2. ... More »NHL-Toews on target and Blackhawks back on track

  • Lawmaker, university spar over 'control' of Chinese dissident in U.S.

    Reuters - 59 mins ago

    By Paul Eckert WASHINGTON (Reuters) - A U.S. congressman who has been blind Chinese dissident Chen Guangcheng's main champion in Washington said people working for New York University have tried to keep him from meeting Chen, barging into a meeting on Capitol Hill and pulling Chen out on one occasion. U.S. Representative Chris Smith, an outspoken supporter of Chinese dissidents since the 1980s, described repeated instances of various people he says were from NYU interfering in his attempts to meet with Chen. ... More »Lawmaker, university spar over 'control' of Chinese dissident in U.S.

  • GSK links with French venture firm to target rare diseases

    Reuters - 1 hr 4 mins ago

    LONDON (Reuters) - GlaxoSmithKline is investing 17.5 million euros ($23.5 million) in a new venture fund to invest in drugs for rare diseases, underscoring the growing role of big drugmakers in backing start-up companies. GSK and many of its rivals are becoming more active in funding early-stage companies, reflecting both a desire to tap into smart ideas from outside their own laboratories and a scarcity of finance from many traditional venture capital firms. ... More »GSK links with French venture firm to target rare diseases

  • Sony CEO asks for patience as shareholders press on spinoff plan

    Reuters - 1 hr 7 mins ago

    By Mari Saito TOKYO (Reuters) - Sony Corp shareholders pressed its chief executive for a response to hedge fund Third Point's proposal for a partial spinoff of its profitable entertainment arm but Kazuo Hirai pleaded for patience as management reviews the bold plan. Daniel Loeb, the billionaire hedge fund manager of Third Point and Sony's top shareholder, wants the electronics empire to sell to the public as much as one-fifth of its entertainment units and use the proceeds to bolster its struggling hardware divisions. ... More »Sony CEO asks for patience as shareholders press on spinoff plan

  • Tourism protests keep new Luxor governor away

    Reuters - 1 hr 8 mins ago

    By Maggie Fick LUXOR, Egypt (Reuters) - A hardline Islamist appointed governor of Luxor stayed away from his new office on Wednesday as protesters barred access and demanded Egypt's president revoke a nomination they fear will hurt local tourism. Adel Mohamed al-Khayat, appointed by President Mohamed Mursi of the Muslim Brotherhood, is a member of al-Gamaa al-Islamiya, the movement accused of killing 58 foreign tourists at the Temple of Hatshepsut in Luxor's Valley of the Queens in 1997. ... More »Tourism protests keep new Luxor governor away

  • Palestinian tobacco faces threat from crackdown on black economy

    Reuters - 1 hr 9 mins ago

    By Noah Browning YA'ABAD, West Bank (Reuters) - Palestinian farmers sow tobacco sprouts in the rocky earth of the northern West Bank, reaping a harvest that provides a reliable livelihood in the struggling occupied territory. From planting, drying and rolling, the local cottage industry has put dozens of whole families to work and has defied high levels of unemployment and poverty. But pressures on their business are growing. ... More »Palestinian tobacco faces threat from crackdown on black economy

  • Advocacy groups urge new US envoy to push Congo governance

    Reuters - 1 hr 9 mins ago

    KINSHASA (Reuters) - More than a dozen advocacy groups urged the first U.S. special representative to Africa's war-torn Great Lakes region on Wednesday to push for democracy and good governance in the Democratic Republic of Congo. The United States named Russ Feingold on Tuesday in an effort to promote peace in a region long afflicted by violence, not least in eastern Congo, where mineral wealth and ethnic strife have drawn in neighbouring states. "We are convinced that this is a critical moment of opportunity for U.S. ... More »Advocacy groups urge new US envoy to push Congo governance

  • Japan's Nomura cuts Australian jobs as banks trim costs

    Reuters - 1 hr 18 mins ago

    SYDNEY (Reuters) - Japan's biggest brokerage firm Nomura Holdings Inc flagged redundancies in its Australian equities team, in an internal memo seen by Reuters. Nomura is removing duplication from its equities business after its acquisition of the Instinet trading platform, a source familiar with the process said. Nomura's move to slim its equities presence in Australia comes against the backdrop of wider job losses in the banking sphere. Rival Deutsche Bank has trimmed its Australian headcount to 725 from 1,000 in the last few years. ... More »Japan's Nomura cuts Australian jobs as banks trim costs

  • India sets up elaborate system to tap phone calls, e-mail

    Reuters - 1 hr 22 mins ago

    By Anurag Kotoky NEW DELHI (Reuters) - India has launched a wide-ranging surveillance program that will give its security agencies and even income tax officials the ability to tap directly into e-mails and phone calls without oversight by courts or parliament, several sources said. The expanded surveillance in the world's most populous democracy, which the government says will help safeguard national security, has alarmed privacy advocates at a time when allegations of massive U.S. digital snooping beyond American shores has set off a global furor. ... More »India sets up elaborate system to tap phone calls, e-mail

  • UK watchdog details bank capital shortfalls

    Reuters - 1 hr 22 mins ago

    LONDON (Reuters) - Lloyds Bank has a capital shortfall of 8.6 billion pounds, Britain's banking regulator said on Thursday, a day after the UK government signaled plans to return the part-state owned lender to the private sector. The Prudential Regulation Authority said the aggregate capital shortfall at UK five banks at the end of 2012 was 27.1 billion pounds, slightly higher than its 25 billion initial estimate in March this year. In March, the banks had plans to raise 12.5 billion pounds during this year, and the PRA raised this estimate to 13.7 billion on Thursday. ... More »UK watchdog details bank capital shortfalls

  • Lloyds says can plug capital shortfall without issuing equity

    Reuters - 1 hr 23 mins ago

    LONDON (Reuters) - Part-nationalised Lloyds Banking Group said on Wednesday that it could meet a requirement from Britain's financial regulator for it to raise 8.6 billion pounds ($13.5 billion)of new capital without issuing new shares. The bank said it has already taken actions to plug 5.8 billion pounds of the shortfall and expected to meet the remaining 2.8 billion pound requirement through capital generation from its core business. Chancellor George Osborne said on Wednesday the government was ready to start selling its 39 percent stake in the bank. ... More »Lloyds says can plug capital shortfall without issuing equity

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