Monday, April 30, 2012

Yahoo! News: Health News

Yahoo! News: Health News


Wall Street dips, S&P on track for monthly loss

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Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) - Stocks slipped on Monday with the S&P 500 on track for its first monthly decline since November after reports hinted at a stalled U.S. recovery and Spain sank into recession, underscoring nagging euro zone stresses. The S&P was in jeopardy of ending a 4-day run as it fell below the technically important 1,400 level. The S&P closed above 1,400 for the first time in three weeks on Friday and that point has been a key resistance for weeks. U.S. ...


U.S. data points to weaker economic momentum

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Shoppers browse in a store in VirginiaWASHINGTON (Reuters) - The U.S. economy appeared to downshift as it entered the second quarter, with consumers increasing their spending only modestly last month and a gauge of business activity in the Midwest falling sharply in April. Consumer spending rose 0.1 percent in March from a month earlier when taking inflation into account, the Commerce Department said on Monday. Separately, a report from the private Institute for Supply Management-Chicago showed business activity cooled much more than expected in the Midwest during April. ...


Spain in recession as austerity bites deep

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Trader gestures in front of his screens during a bond auction on a trading floor in MadridMADRID (Reuters) - Spain sank into recession in the first quarter and economists said spending cuts aimed at meeting strict EU deficit limits, together with a reeling bank sector, would delay any return to growth until late this year or beyond. It is the second recession in just over two years for the euro zone's fourth largest economy and comes as the government tries to convince investors it will not need outside aid to put its house in order. ...


Microsoft buys Nook stake, B&N shares soar

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File photo of the new Nook Tablet during a demonstration at the Union Square Barnes & Noble in New York(Reuters) - Microsoft Corp will invest $300 million in Barnes & Noble Inc's Nook e-reader, gaining a foothold in the fast-growing e-books market as the bookseller gets more firepower to compete against Amazon.com's Kindle and Apple Inc's iPad. The move comes as Microsoft is looking to generate excitement around its tablet-friendly Windows 8 operating system, expected on the market around October. The deal announced on Monday includes Microsoft taking a stake in the bookseller's college bookstore division. It also means that the two companies have settled their patent dispute. ...


Bank of America directors fight back over $20 million settlement

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The logo of the Bank of America is pictured atop the Bank of America building in downtown Los Angeles(Reuters) - Bank of America Corp directors rejected allegations by unhappy shareholders that their proposed $20 million settlement of litigation over the purchase of Merrill Lynch & Co was made "on the cheap" and was the product of collusion. The accord would resolve a New York lawsuit claiming the bank's board, including former Chief Executive Officer Kenneth Lewis, had hidden how Merrill was headed toward an eventual $15.84 billion quarterly loss, even as it was paying $3.6 billion of bonuses. ...


Analysis: U.S. mortgage funds emerge even as housing stays weak

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A view of a home for sale in Los AngelesNEW YORK (Reuters) - The U.S. housing market may still be in the doldrums, but funds that are betting on big gains in mortgage-related investments are a hot ticket this year on Wall Street. A number of hedge funds, asset managers and investment banks have launched vehicles dedicated to investing in the mortgage sector, often in securities backed by those loans, and sometimes focused on scooping up bargain-priced mortgages themselves. ...


Coca-Cola in talks to buy Monster Beverage: WSJ

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A Coca-Cola truck fills up with diesel fuel at a gas station in Carlsbad California(Reuters) - Coca-Cola Co is in talks to buy energy drink maker Monster Beverage Corp , the Wall Street Journal reported on Monday, sending Monster shares up 17 percent. An acquisition of Monster, which had a market capitalization of more than $11 billion, would be the largest brand acquisition for Coca-Cola, according to the paper. A Monster spokeswoman said it is the company's policy not to comment on rumors. A spokesman for Coca-Cola was not immediately available to comment. Monster shares jumped $11.59, or 17.7 percent, to $77.12 on the Nasdaq. Coke shares were down 69 cents, or 0. ...


Israel's jobless rate leaps as the counting changes

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JERUSALEM (Reuters) - Israel's move to bring its economic statistics in line with leading Western countries has led to a far bleaker picture of its jobs market, undermining claims that the country is riding through the global crisis with relative ease. The Central Bureau of Statistics on Monday unveiled a new employment survey - a reworking of past surveys - that showed a first-quarter jobless rate of 6.7 percent. It compared with fourth-quarter rate of 5.4 percent using the old system, a number that was touted at the time as being the lowest level in three decades. ...

Energy Transfer Partners to buy Sunoco for $5.3 billion

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(Reuters) - Pipeline operator Energy Transfer Partners LP said it will buy Sunoco Inc for $5.3 billion in stock and cash to get into the more lucrative crude oil transportation business as natural gas prices stay weak. Oil and gas production from shale formations in the United States has surged over the past two years, creating a scramble to build infrastructure to get supplies to refining hubs. The resulting oversupply has sent natural gas prices to their lowest in a decade and made drilling in so-called "dry gas" fields uneconomical. ...

Analysis: After Argentina, firms brace for more asset raids

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A man waves a flag with the YPF logo in front of the Argentine Congress in Buenos AiresLONDON (Reuters) - International investors rattled by Argentina's multi-billion-dollar grab of the country's main oil firm should steel themselves for other states to raid foreign-held assets as one easy solution to their economic woes. Buenos Aires' high-profile seizure of YPF from Spain's Repsol is unlikely to set off a wave of out-and-out asset expropriations. But instability and hardship caused by five years of global crisis could become a powerful inducement for a shakedown of non-voting outsiders, with high crude and metals prices making commodity producers particularly vulnerable. ...


Once poster child of crisis, Iceland recovers

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GRINDAVIK, Iceland (Reuters) - In this small Icelandic village, sailors are making double their pre-crisis pay, haddock sales to places like Boston and Brussels are booming and unemployment is almost zero - signs of this island's surprisingly rapid rise from the ashes of banking ruin. While much of Europe wallows in recession, the economy of this volcanic island in the mid Atlantic is growing at a clip that has surprised many people, thanks to a currency fall - in which the crown lost almost half its value to the euro - an export and tourism boom as well as growing consumer confidence. ...

Buffett's cancer to be No. 1 topic at Berkshire meeting

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(Reuters) - Warren Buffett is not one to talk much about his personal life in public, but his prostate cancer may dominate the conversation this weekend when his conglomerate Berkshire Hathaway convenes its annual shareholder meeting. The event dubbed "Woodstock for Capitalism" draws more than 40,000 shareholders to Omaha, Nebraska's convention center for a weekend of festivities, the highlight of which being the questions Buffett takes from investors. This year, for the first time, he will also entertain questions from a select group of analysts who follow Berkshire's stock. ...

Analysis: EU hunts for quicker, sharper growth kick

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A pedestrian walks past a mural by French street artist Tilt in the Shoreditch area of LondonBRUSSELS (Reuters) - Slowly but surely, the European Union is shifting its message on promoting economic growth and is coming to the realization that it may have been looking for it in the wrong place. The question is whether the bloc can come up with a strategy that convinces skeptical financial markets while keeping debt on a downward path. For many months, the mantra has been that struggling euro zone countries must reduce budget deficits and carry out deep structural reforms - to labor markets, pension systems and via privatizations - to boost competition and stimulate growth. ...


Euro zone price pressures persist, constrain ECB action

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A sculpture showing the Euro currency sign is seen in front of the European Central Bank (ECB) headquarters in FrankfurtBRUSSELS (Reuters) - - Price pressures stayed high in the euro zone in April in the face of a likely recession, keeping interest rate cuts off the agenda for a European Central Bank seeking ways of reviving economic growth within its inflation mandate. Annual consumer price inflation in the 17 nations sharing the euro moderated to 2.6 percent from 2.7 percent in March, the EU's statistics office Eurostat said on Monday. Economists polled by Reuters had forecast 2.5 percent. ...


Former Greek bank chief jailed in anti-fraud drive

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ATHENS (Reuters) - A former bank chief was sentenced to eight years jail on Monday for fraud and forgery, court officials said, the first major conviction resulting from an anti-corruption drive ahead of a parliamentary election on Sunday. An Athens court convicted Pavlos Psomiadis, former chief of small banking and insurance group Aspis, on charges of forging documents to keep his business afloat. Corruption and cronyism are endemic in Greece. ...

Law firm Dewey dumps executive; talks with rival end

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A sign marking the Dewey & LeBoeuf LLP headquarters on Sixth Avenue is seen in New YorkNEW YORK (Reuters) - Embattled law firm Dewey & LeBoeuf said on Sunday it removed its former chairman from various leadership positions amid a probe by the Manhattan district attorney and said that talks with rival firm Greenberg Traurig about a potential transaction ended with no deal. According to an internal firm memo obtained by Reuters, Dewey's executive committee voted to oust Steven Davis from its ranks and remove him from a five-member management team put in place during a leadership shakeup last month. The firm's management also disclosed that talks with Greenberg Traurig had ended. ...


Falcone gets extension in LightSquared creditor talks

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Falcone testifies before a US House Oversight and Government Reform Committee hearing on the regulation of hedge funds, on Capitol Hill in WashingtonNEW YORK (Reuters) - Hedge fund manager Philip Falcone's LightSquared is avoiding a default for now on about $1.6 billion of debt after creditors of the upstart wireless telecom company agreed to extend negotiations for a week, source familiar with the matter said. The holders of LightSquared's debt, who include billionaire investor Carl Icahn and hedge fund manager David Tepper, had given Falcone's Harbinger Capital until 10 a.m. Monday to strike a deal for restructuring Harbinger's 96 percent equity control of LightSquared, the source said. ...


Malaysia Felda Global's over $3 billion IPO by end-June: sources

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KUALA LUMPUR (Reuters) - Malaysia's state-owned Felda Global Ventures Holdings is likely to make its IPO at the end of June, according to two sources, in what is expected to raise more than $3 billion and be one of the biggest flotations in the world this year. The third-largest oil palm plantation operator by planted area has started offering its initial public offering (IPO) shares to indigenous "Bumiputra" investors at an indicative price of 4.65 ringgit ($1.53) a share, two officials with direct knowledge of the matter, told Reuters on Monday. ...

Nokia in talks to sell luxury Vertu unit: source

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A Vertu Signature mobile phone costing over 9,500 euros is displayed in HelsinkiLONDON (Reuters) - Cellphone maker Nokia is in talks to sell its UK luxury subsidiary Vertu, which hand makes some of the world's most expensive mobile phones, a source familiar with the company's strategy said on Monday. Earlier the Financial Times reported that talks with private equity group Permira were at an advanced stage on a possible sale which would raise about 200 million euros ($265 million). Vertu's cellphones can feature crystal displays and sapphire keys, costing more than 200,000 pounds ($320,000) due to the precious metal components. ...


For businesses in China, a minefield of bribery risks

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SHANGHAI (Reuters) - Foreign companies doing business in China must navigate a business culture in which bribery is rife, finding ways to remove obstacles to expanding in the world's second-largest economy without running afoul of local or home-country laws. Especially in areas such as dealing with local officials in charge of permits, it is still common for bribes, whether cash or illegal gifts, to be expected in return for providing the necessary approvals, industry and legal experts say. For U.S. ...

Loews beats estimates on CNA Financial income

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(Reuters) - Hotels, energy and financial services conglomerate Loews Corp posted higher-than-expected quarterly results, helped by an increase in investment income at its biggest holding CNA Financial . For the first quarter, net income attributable to Loews — run by the billionaire Tisch family — was $367 million, or 92 cents per share, compared with $379 million, or 92 cents per share, from a year ago. Analysts on average had expected the company to earn 90 cents per share, according to Thomson Reuters I/B/E/S. Revenue increased by 2 percent to $3.74 billion from the previous year. ...

EU's Barnier backs economic growth pact: paper

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European Union's Internal Market Commissioner Michel Barnier addresses a news conference on the progress of the single market and the 2011 governance check-up report in BrusselsBERLIN (Reuters) - The EU's Internal Market Commissioner Michel Barnier has thrown his weight behind calls for an economic growth pact to complement an austerity drive that has triggered a political and popular backlash across the euro zone. "I am advocating that we prepare a European growth initiative in addition to the agreements on budget discipline," Barnier told Germany's Die Welt newspaper in an interview published on Monday. ...


NYSE hit by weak trading and failed Deutsche Boerse deal

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Detail seen at the NYSE Euronext cash markets operations room in ParisLONDON (Reuters) - NYSE Euronext said its profits fell by almost a third in the first quarter due to a slowdown in trading and costs from its failed merger with Deutsche Boerse . The New York exchange said profits were down 32 percent to $121 million as revenue fell 17 percent to $952 million in the first quarter. "Our first quarter results reflect the challenging operating environment which carried over into 2012 and will continue to result in near-term headwinds," said Duncan Niederauer, Chief Executive of NYSE Euronext. ...


German retail sales see modest rise in March

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BERLIN (Reuters) - German retail sales rose less than expected in March, preliminary data showed on Monday, raising concerns about the support that private consumption can provide for the German economy in a period of flagging global demand. The notoriously volatile retail sales indicator was up 0.8 percent in March on a monthly basis in real terms, below a consensus forecast for a rise of 1.0 percent. On an annual basis, however, retail sales rose 2.3 percent, well above a forecast 0.5 percent rise. ...

Williams sees no need for further Fed action: paper

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FRANKFURT (Reuters) - San Francisco Federal Reserve President John Williams is more optimistic about the U.S. economy now than he was three months ago and does not see the need for further monetary measures at the moment, he was quoted on Monday as saying. Williams told German financial daily Handelsblatt in an interview published on Monday that if U.S. unemployment stayed at 8 percent or rose substantially and growth slowed, then this would raise the question about further monetary measures. ...

Analysis: Delta's refinery bid looks better on second glance

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The Delta airline logo is seen on a strap at JFK Airport in New YorkNEW YORK (Reuters) - Delta Air Lines' expected bid to buy a Pennsylvania oil refinery has had people in both industries joking that a company from the money-losing airline sector would be right at home in the money-losing world of East Coast refining. But with the deal to buy ConocoPhillips' Trainer, Pennsylvania, refinery expected to be confirmed imminently, some say that Delta, the country's No. 2 carrier, could have the last laugh. Airlines, after all, know a thing or two about managing high-risk, logistics-intensive industries through a slump. ...


Warner Chilcott weighs sale, other options: report

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(Reuters) - Warner Chilcott is evaluating options, including a possible sale of the company, after receiving interest from strategic and private-equity buyers, Bloomberg News reported on Monday. Goldman Sachs is helping the Nasdaq-listed drugmaker assess interest, said the news service, citing people with knowledge of the matter. Warner Chilcott is also considering paying a dividend as an alternative to a sale, one person said. Warner Chilcott's stock rose 8 percent to $18.79 on Friday on takeover speculation, giving it a market capitalization of $4. ...

AB InBev hikes U.S. beer sales, upbeat on Brazil

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Anheuser Busch, Inc. World Headqaurters in St LouisBRUSSELS (Reuters) - Anheuser-Busch InBev , the world's largest beer maker, increased sales of beer in the United States for the first time in three years and said wage rises should ensure increased consumption in Brazil. The maker of Budweiser, Stella Artois and Beck's said on Monday that it shipped 1.8 percent more beer and other drinks overall in the first quarter of 2012 and its core profit (EBITDA) rose 7.4 percent to $3.55 billion. That was slightly below the average analyst expectation of $3.58 billion. U.S. shipments grew 1. ...


Dollar softens on Fed easing hopes, shares gain

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Men walk past an electronic board displaying market indices from around the world outside a brokerage in TokyoLONDON (Reuters) - A softer dollar kept the euro near three-week highs on Monday and European shares followed Asian markets higher as disappointing U.S. growth raised expectations that the Federal Reserve would consider more monetary easing. But trading was expected to be light ahead of May Day holidays throughout Europe on Tuesday and before the European Central Bank's meeting later in the week where policymakers will consider the declining health of the region's economy. "The weaker-than-expected U.S. ...


Law firm Dewey dumps executive; talks with rival end

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A woman walks by the Dewey & LeBoeuf LLP headquarters on 6th avenue in New YorkNEW YORK (Reuters) - Embattled law firm Dewey & LeBoeuf said on Sunday it removed its former chairman from various leadership positions amid a probe by the Manhattan district attorney and said that talks with rival firm Greenberg Traurig about a potential transaction ended with no deal. According to an internal firm memo obtained by Reuters, Dewey's executive committee voted to oust Steven Davis from its ranks and remove him from a five-member management team put in place during a leadership shakeup last month. The firm's management also disclosed that talks with Greenberg Traurig had ended. ...


Dow, S&P 500 slip as Spain enters recession

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Specialists Peter Giacchi, left, and John Parisi confer on the floor of the New York Stock Exchange Wednesday, April 25, 2012. U.S. stocks were headed for a neutral opening, with Dow Jones industrial futures nearly unchanged. (AP Photo/Richard Drew)News that Spain's economy entered another recession renewed worries about the fragility of Europe's finances on Monday and nudged stocks lower.


Mayor: Heathrow chaos damaging London's reputation

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London's mayor warned Monday that long delays for passengers arriving at the city's largest airport risk damaging Britain's reputation in the run-up to this summer's Olympic Games.

Summary Box: Titanic II to sail in 2016

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TITANIC UNDERTAKING: Just weeks after the 100th anniversary of the sinking of the Titanic, Australian billionaire Clive Palmer has signed an agreement with a Chinese shipyard to build Titanic II, a high-tech replica of the original. He did not provide a cost estimate.

Top EPA official resigns over 'crucify' comment

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The Obama administration's top environmental official in the oil-rich South and Southwest region has resigned after Republicans targeted him over remarks made two years ago when he used the word "crucify" to describe his approach to enforcement.

Spain concerns drag markets down

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Concerns over Spain's financial condition weighed on markets Monday, after investors had initially bid up stocks on hopes that the Federal Reserve would provide more stimulus to the U.S. economy.

Rise of far right in Greece worries mainstream

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In this Wednesday April 25, 2012 photo photo Ilias Kassidiaris, an agriculturist and candidate of the extreme far-right Golden Dawn party poses next a party flag _ styled on Nazi banners but with an ancient Greek motif in the center _ and a statuette of Alexander the Great at the party headquarters, in Athens. Reeling from a vicious financial crisis that has cost them pensions and jobs, Greeks have been turning away in droves from the mainstream politicians they feel have let them down. Firmly on the fringe of the right since it first appeared 20 years ago, Golden Dawn garnered a meager 0.23 percent in the 2009 elections. But its popularity has shot up over the past few months and support stood at about 5 percent in recent opinion polls, well above the 3 percent threshold needed to enter parliament.(AP Photo/Petros Giannakouris)Reeling from a vicious financial crisis that has cost them pensions and jobs, Greeks have been turning away in droves from the mainstream politicians they feel have let them down. Another political force is trying to tap the void, with blunt promises to "clean up" the country.


Cameron: Minister didn't break rules over Murdoch

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Prime Minister David Cameron insisted Monday there was no evidence that a Cabinet minister broke the rules in his dealings with Rupert Murdoch's News Corp., rejecting demands by the opposition to call in Britain's standards watchdog.

Strong Grand Cherokee sales keep factory humming

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Sales of Jeep Grand Cherokee and Dodge Durango SUVs are so strong that their factory will stay open through the normal two-week summer shutdown.

Dubai spends $250M to get full control of Atlantis

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FILE-- This Wednesday Sept. 8, 2010 file photo shows an avenue leading to the Atlantis hotel on Palm Jumeira Island in Dubai, United Arab Emirates. Dubai says it now has full control over the Atlantis resort hotel perched at the top of its palm-shaped island. State-run investment firm Istithmar World said late Friday April 27, 2012 it paid $250 million to buy out business partner Kerzner International, which had held a 50 percent stake in the coral-colored hotel. Istithmar already owned half of the property. Istithmar is part of Dubai state conglomerate Dubai World, which has struggled with high-profile debt troubles of its own. (AP Photo/Kamran Jebreili-File)Dubai says it now has full control of the Atlantis resort hotel perched atop its palm-shaped island.


Weak slip on Wall Street as Spain enters recession

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Specialists Peter Giacchi, left, and John Parisi confer on the floor of the New York Stock Exchange Wednesday, April 25, 2012. U.S. stocks were headed for a neutral opening, with Dow Jones industrial futures nearly unchanged. (AP Photo/Richard Drew)Stocks fell on Wall Street Monday morning on news that Spain's economy entered another recession, renewing worries about the fragility of Europe's finances.


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