Reuters: Top News

Euro zone slump eases in May but points to contraction in second quarter - PMI

Thu, 23 May 2013 11:33:14 GMT

LONDON (Reuters) - The downturn across euro zone businesses eased slightly this month, although a dearth of new orders means the bloc's economy is likely to contract again in the second quarter, business surveys showed on Thursday.

Exclusive: China urbanisation plan hits roadblock over spending fears - sources

Thu, 23 May 2013 11:28:39 GMT

BEIJING (Reuters) - China's plan to spend $6.5 trillion (4.31 trillion pounds) on urbanisation to bolster the economy is running into snags, sources close to the government said, as top leaders fear another spending binge could push up local debt levels and inflate a property bubble.

IMF's Lagarde in court for French arbitration case

Thu, 23 May 2013 11:20:51 GMT

PARIS (Reuters) - IMF chief Christine Lagarde was questioned in court by a French magistrate on Thursday over her role in a 285-million-euro arbitration payment made to a supporter of former president Nicolas Sarkozy.

Signs of weakness mar UK economic growth

Thu, 23 May 2013 11:17:47 GMT

LONDON (Reuters) - Britain's better-than-expected economic growth in the first quarter turns out to have been boosted by a rise in inventories, while consumer spending was weak and investment fell, raising questions whether the nascent recovery will last.

London attacker British, of Nigerian origin - source

Thu, 23 May 2013 11:00:21 GMT

LONDON (Reuters) - British authorities have established that one and possibly both of the men who hacked a soldier to death on a London street was born in Britain of Nigerian descent, a source with knowledge of the investigation said on Thursday.

Roadside bomb kills 13 in southwest Pakistan

Thu, 23 May 2013 10:49:05 GMT

ISLAMABAD (Reuters) - A roadside bomb killed 11 security personnel and two civilians on Thursday in southwestern Pakistan where separatist rebels have for decades been battling to control the region's natural gas and other resources.

Iran seeks to speed up nuclear activity - IAEA

Thu, 23 May 2013 10:43:13 GMT

VIENNA (Reuters) - Iran is trying to accelerate its uranium enrichment programme, a U.N. nuclear report showed, but experts said it was unclear when Tehran's new machines could start operating and how efficiently they would work.

Flybe quits Gatwick as part of turnaround plan

Thu, 23 May 2013 10:29:53 GMT

(Reuters) - Struggling British airline Flybe Group Plc will quit its main London hub at Gatwick airport and has pushed back the delivery of 16 new aircraft to help it return to profitability.

Kerry begins round of talks with Israel, Palestinians

Thu, 23 May 2013 09:36:07 GMT

JERUSALEM (Reuters) - U.S. Secretary of State John Kerry began a round of separate talks with Israeli and Palestinian officials on Thursday but acknowledged there was considerable scepticism that the two sides would resume peace negotiations.

EU's Barnier wants big companies to reveal national tax bills

Thu, 23 May 2013 08:28:39 GMT

BRUSSELS (Reuters) - Large companies should disclose how much tax they pay in each country where they operate, the European Commission's top regulatory official said, in the text of a speech to be delivered on Thursday.

Cash-and-carry wholesaler Booker's profit jumps 13 percent

Thu, 23 May 2013 07:42:18 GMT

(Reuters) - Booker Group Plc, Britain's biggest cash-and-carry wholesaler, reported a 13 percent rise in full-year profit, helped by demand from small retailers and growing online sales.

Latam, Africa surges ensure SABMiller profit growth

Thu, 23 May 2013 07:27:14 GMT

BRUSSELS (Reuters) - SABMiller, the world's second biggest brewer, reported profit growth in line with expectations thanks to a surge in earnings in Latin America and Africa and said its markets should be broadly unchanged in the coming months.

China factory activity shrinks for first time in seven months - flash PMI

Thu, 23 May 2013 07:17:46 GMT

BEIJING (Reuters) - China's factory activity shrank for the first time in seven months in May as new orders fell, a preliminary manufacturing survey showed, entrenching fears that its economic recovery has stalled and that a sharper cooldown may be imminent.

Daily Mail sees profit growth after strong first half

Thu, 23 May 2013 06:44:32 GMT

LONDON (Reuters) - Britain's Daily Mail said it expected to deliver solid growth in full-year adjusted profit before tax after strength in its events division helped it to meet forecasts for the half year.

Lloyds raises 450 million pounds from St. James's Place share sale

Thu, 23 May 2013 06:38:06 GMT

LONDON (Reuters) - State-backed Lloyds Banking Group said it had raised 450 million pounds from the sale of 15 percent of wealth manager St. James's Place to boost its capital.

Mothercare full-year profit boosted by turnaround plan

Thu, 23 May 2013 06:20:54 GMT

LONDON (Reuters) - British baby and maternity products retailer Mothercare posted a better-than-expected rise in full-year profit and said it was making good progress with its three-year turnaround plan.

Nissan to recall 841,000 vehicles due to steering wheel glitch

Thu, 23 May 2013 05:55:21 GMT

TOKYO (Reuters) - Nissan Motor Co Ltd will recall about 841,000 vehicles worldwide including the Micra compact car, also known as the March, as a result of a steering wheel glitch, Japan's No.2 automaker said on Thursday.

Analysis - Crackdown on radical Islamists tests Tunisia's stability

Thu, 23 May 2013 05:03:21 GMT

TUNIS (Reuters) - For the first time since the Arab Spring uprisings of 2011, relations between mainstream Islamists in government and radical Salafist Muslim activists have reached breaking point, sparking deadly clashes in two Tunisian cities.

Samsung says fast-selling Galaxy S4 sales hit 10 million

Thu, 23 May 2013 02:16:04 GMT

SEOUL (Reuters) - Samsung Electronics Co said sales of the latest version of its flagship Galaxy S smartphone have reached 10 million since its launch in late April, making the model its fastest selling smartphone.

Merkel protege struggles with Germany's green revolution

Thu, 23 May 2013 01:25:28 GMT

BERLIN (Reuters) - Chancellor Angela Merkel appointed him for his charm and political skill as marshal of her vision of a 'green revolution' in Europe's biggest power market. A year on, Peter Altmaier finds himself spurned by many environmentalists, disdained by industry and viewed cooly by a public wary of the costs.

Oklahoma tornado victims astounded at how they survived

Thu, 23 May 2013 00:58:49 GMT

MOORE, Oklahoma (Reuters) - Tornado survivors thanked God, sturdy closets and luck in explaining how they lived through the colossal twister that devastated an Oklahoma town and killed 24 people, an astonishingly low toll given the extent of destruction.

West may boost Syria rebels if Assad won't talk peace

Wed, 22 May 2013 23:48:32 GMT

AMMAN (Reuters) - Washington threatened on Wednesday to increase support for Syria's rebels if President Bashar al-Assad refuses to discuss a political end to a civil war that is spreading across borders.

European banks stop sending money to North Korea - aid groups

Wed, 22 May 2013 23:14:29 GMT

BEIJING (Reuters) - European aid groups said their banks in Europe had stopped sending money to North Korea in the wake of U.S. sanctions on Pyongyang's main foreign exchange bank, leaving them scrambling for a solution short of hand-carrying cash into the impoverished country.

Soldier hacked to death in suspected Islamist attack

Wed, 22 May 2013 23:06:43 GMT

LONDON (Reuters) - A British soldier was hacked to death by two men shouting Islamic slogans in a south London street on Wednesday, in what the government said appeared to be a terrorist attack.

Exclusive - Glencore, Trafigura deals with Iran may have skirted sanctions - U.N.

Wed, 22 May 2013 22:49:28 GMT

UNITED NATIONS (Reuters) - Metals swap deals with Iran by Switzerland-based commodities giants Glencore Xstrata and Trafigura could have been a way of skirting international sanctions against Tehran over its nuclear program, according to a confidential U.N. Panel of Experts report seen by Reuters on Wednesday.