Current News Today
Spain beset by bank crisis, downgrades, bond pressure
MADRID (Reuters) - Spain's borrowing costs shot up at a bond auction on Thursday and its troubled banks suffered a double blow, with shares in part-nationalized Bankia diving and 16 lenders - including the euro zone's biggest - having their credit ratings cut. Official data confirmed Spain was back in recession and a newspaper reported a big outflow of deposits from Bankia, but the government said it had taken a fundamental step to strengthen Spain's credibility by agreeing big budget cuts with the country's free-spending regions. ...
2012-05-17T22:02:06Z
| Poll shows Greece electing pro-bailout government
ATHENS (Reuters) - Greek voters are returning to the establishment parties that negotiated its bailout, a poll showed on Thursday, offering potential salvation for European leaders who say a snap Greek election next month will decide whether it must quit the euro. The poll, the first conducted since talks to form a government collapsed and a new election was called for June 17, showed the conservative New Democracy party in first place, several points ahead of the radical leftist SYRIZA which has pledged to tear up the bailout. ...
2012-05-17T19:13:46Z
| Russia says action on Syria, Iran may go nuclear
MOSCOW (Reuters) - Russian Prime Minister Dmitry Medvedev warned on Thursday that military action against sovereign states could lead to a regional nuclear war, starkly voicing Moscow's opposition to Western intervention ahead of a G8 summit at which Syria and Iran will be discussed. "Hasty military operations in foreign states usually bring radicals to power," Medvedev, president for four years until Vladimir Putin's inauguration on May 7, told a conference in St. Petersburg in remarks posted on the government's website. ...
2012-05-17T19:35:13Z
| France's left-wing leadership starts with a pay cut
PARIS (Reuters) - France's new left-wing government started work on Thursday with pledges to combat excessive austerity but better manage public finances, marking the debut with a 30 percent cut in pay for President Francois Hollande and all ministers. The sizeable wage reduction was endorsed at a first meeting of the 34-minister team, a day after Germany's government awarded rises to its ministers and Chancellor Angela Merkel, whose pay will overtake Hollande's. ...
2012-05-17T18:19:51Z
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Current News Today
Saints' Vilma sues Roger Goodell for defamation (Yahoo! Sports)
NEW ORLEANS (AP) Suspended Saints linebacker Jonathan Vilma filed a defamation lawsuit Thursday against NFL Commissioner Roger Goodell, claiming the league's top executive made false statements that tarnished Vilma's reputation and hindered his ability to earn a living playing football.
Thu, 17 May 2012 14:40:39 PDT
| Heat regroup, heading to take on confident Pacers (Yahoo! Sports)
LeBron James and Dwyane Wade were not carrying ''Help Wanted'' signs around the Miami Heat practice floor on Wednesday. The mood was not grim, voices were not hushed and scowls were not prominent.
Wed, 16 May 2012 18:32:06 PDT
| McNamee admits his Clemens story changed over time (Yahoo! Sports)
WASHINGTON (AP) During another seven grueling hours of cross-examination that frustrated all sides, Roger Clemens' accuser explained the evidence he kept in a beer can - and why his story about it has changed.
Thu, 17 May 2012 15:31:04 PDT
| Selig: Oakland move might be considered (Yahoo! Sports)
NEW YORK (AP) Baseball Commissioner Bud Selig says it's up to Lew Wolff to decide whether to consider additional sites for a new ballpark for the Athletics, and the Oakland owner maintains he's focused on San Jose rather than a move outside the Bay Area.
Thu, 17 May 2012 14:32:14 PDT
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Current News Today
Nervous investors send S&P lower for fifth day
NEW YORK (Reuters) - Stocks hit a four-month low on Thursday as rising Spanish bond yields increased investor anxiety over that country's banks and another round of weak data undermined hopes for U.S. economic recovery. Growing worries over developments in the euro zone and lackluster economic data pushed the S&P's losing streak to five consecutive days. The index, which closed at a level not seen since mid-January, has now relinquished more than half of its gains from the first quarter. ...
2012-05-17T21:32:28Z
| Facebook prices at top of range in landmark IPO
NEW YORK/SAN FRANCISCO (Reuters) - Facebook Inc priced its initial public offering at the top of its target range to raise more than $16 billion, as strong demand, particularly from retail investors, fuels anticipation of a big pop in the stock when it begins trading Friday on the Nasdaq. Predictions of how much the stock will rise on its first day of trade vary greatly -- some experts said the high IPO price and increased float could limit gains to 10 percent to 20 percent, while others said anything short of a 50 percent jump would be disappointing given the hype. ...
2012-05-17T21:51:14Z
| JPMorgan's Dimon says will testify before Congress
WASHINGTON (Reuters) - JPMorgan Chase & Co Chief Executive Jamie Dimon has agreed to testify before Congress over the bank's recent trading losses, which have ignited a political debate over whether large U.S. banks need to be reined in by regulators or new laws. U.S. Senate Banking Committee Chairman Tim Johnson said in a statement on Thursday that his panel will invite Dimon to appear before Congress. ...
2012-05-17T21:45:35Z
| Gupta trial could feature big corporate stars
NEW YORK (Reuters) - Lloyd Blankfein, Warren Buffett and other well-known chieftains of corporate America might be called to testify at the insider trading trial starting on Monday of former Goldman Sachs Group Inc and Procter & Gamble Co director Rajat Gupta. Blankfein, who runs Goldman, and Buffett, who runs Berkshire Hathaway Inc , are among dozens of people that lawyers for the government and for Gupta said on Thursday might be mentioned or might testify at the trial, which is expected to last about three weeks. ...
2012-05-17T22:03:34Z
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Current News Today
Romney rejects Obama-Wright attacks, despite doing so in past
Mitt Romney continued to distance his campaign from a conservative super PAC's proposal to run ads linking President Barack Obama to his controversial former pastor, the Rev. Jeremiah Wright. Speaking to reporters in Jacksonville, Fla., where he campaigned on Thursday, Romney said he rejects any efforts to link Obama with Wright. "I want to make [...]
2012-05-17T20:12:28Z
| Facebook prices at top of range in landmark IPO
Facebook Inc priced its initial public offering at $38 a share, giving the world's No. 1 online social network a $104 billion valuation in the third largest offering in U.S. history.
2012-05-17T20:40:52Z
| Disco queen Donna Summer dead at age 63
Donna Summer, whom millions of fans revered as "the Queen of Disco," has died at the age of 63 in Florida after a battle with cancer, the Associated Press has confirmed with the singer's family Thursday morning.
2012-05-17T17:03:41Z
| Can John Edwards come back?
Bottom Line Can John Edwards recover a career from this scandal? That's the question we're answering today on The Bottom Line. First things first. Tomorrow the jury takes his fate in their hands, deciding whether he broke federal campaign laws with those payments funneled to Rielle Hunter. A guilty verdict means up to 30 years [...]
2012-05-17T19:05:06Z
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