Yahoo! News: Health News

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• Wall Street down after health ruling; Europe eyed
• Supreme Court upholds healthcare law in Obama triumph
• U.S. consumer spending, exports cloud growth outlook
• News Corp board approves split, Murdoch stays chairman
• Morgan Stanley names former FASB chief to board
• Qatar iron man faces off with Glencore
• Shah Deniz partners back Nabucco West pipeline: BP
• EU summit works on short-term support for Spain, Italy
• UK drafts in fraud squad as Libor fine hits Barclays
• Peugeot Citroen targets China's luxury buyers
• JPMorgan drops on report trade loss could be bigger
• Opel supervisory board approves turnaround plan
• Analysis: EBA bank watchdog faces own stress test from euro crisis
• Analysis: Brief boost for Europe refiners from crude drop
• Peugeot increases cuts, prepares closure -unions
• Glasenberg's dealmaker renown at mercy of Qatar
• Slow economic recovery to weigh on U.S. banks: Citi
• Jobless claims fall last week, but still high
• Petronas to buy Canadian gas producer for $4.7 billion
• Jobless claims fall last week, but still high
• Exclusive: Saudi readies oil line to counter Iran Hormuz threat
• Analysis: Basque economy has lessons for Spain
• Germany denies report on changed euro bond stance
• IVP raises $1 billion venture fund
• Bernard Madoff's brother to plead guilty, U.S. says
• Rights group says Apple suppliers in China breaking labor laws
• Companies feel the heat as China slowdown takes toll
• T-Mobile's Humm to join Vodafone
• Peugeot increases cuts, plans plant closure: union
• Fiat CEO says to relaunch Alfa Romeo in U.S., China
• Americans react to historic health care decision
• How states fared on unemployment aid applications
• High court upholds Obama health law by 5-4 vote
• News Summary: Average US loan rates at record lows
• Top UK police officers probed over phone hacking
• Under scrutiny, Vatican bank opens its doors
• Natural gas prices drop 3 percent
• News Corp announces plans to split
• Piracy conference urges public-private solutions
• High court upholds Obama health law

Wall Street down after health ruling; Europe eyed Posted: 28 Jun 2012 08:22 AM PDT NEW YORK (Reuters) - Wall Street fell more than 1 percent on Thursday, with healthcare stocks trading erratically after the U.S. Supreme Court upheld a key part of President Barack Obama's healthcare overhaul in a surprise move for many investors. U.S. stocks had already been down sharply in the first hour of trading on investor skepticism that the latest European Union summit would agree on concrete measures to tackle the region's debt crisis. The drop accelerated after the top U.S. ...

Supreme Court upholds healthcare law in Obama triumph Posted: 28 Jun 2012 09:44 AM PDT WASHINGTON (Reuters) - The U.S. Supreme Court upheld President Barack Obama's healthcare law on Thursday in an election-year triumph for him and fellow Democrats and a stinging setback for Republican opponents of the most sweeping overhaul of the unwieldy U.S. healthcare system in about a half century. In a 5-4 ruling based on the power of Congress to impose taxes, the court preserved the law's "individual mandate" requiring that most Americans obtain health insurance by 2014 or pay a tax. ...

U.S. consumer spending, exports cloud growth outlook Posted: 28 Jun 2012 06:24 AM PDT WASHINGTON (Reuters) - U.S. consumer spending and export growth were not as robust as previously believed in the first quarter, suggesting less momentum in the economy. The Commerce Department confirmed on Thursday that the economy grew at a 1.9 percent annual pace in the January-March period, but the mix of growth was not encouraging for the current quarter. A separate report showed the number of Americans filing new claims for jobless benefits fell last week, but remained too high, indicating the job market was struggling to gain traction. ...

News Corp board approves split, Murdoch stays chairman Posted: 28 Jun 2012 07:59 AM PDT (Reuters) - News Corp said on Thursday its board approved a plan to split the company into two publicly traded entities, with Rupert Murdoch remaining as chief executive of a new, separate entertainment company. The company will split the $60 billion media conglomerate into publicly traded publishing and entertainment companies, with Murdoch as chairman of both, and his family retaining control. It didn't name an executive to lead the new publishing business. ...

Morgan Stanley names former FASB chief to board Posted: 28 Jun 2012 06:51 AM PDT (Reuters) - Morgan Stanley has appointed Robert Herz, a former chairman of the Financial Accounting Standards Board (FASB), to its board of directors and made some changes to its board committees. The appointment of Herz, a former partner of accounting firm PricewaterhouseCoopers , is effective July 2. The investment bank's board also changed the leadership of its nominating and governance committee, replacing Laura Tyson with James Owens as chairman. Klaus Kleinfeld, a relatively new director, was also added to that group. ...

Qatar iron man faces off with Glencore Posted: 28 Jun 2012 08:46 AM PDT DUBAI (Reuters) - Ahmad al-Sayed, the Qatari investment manager holding the fate of Glencore's $26 billion takeover of Xstrata in his hands, is known as an aggressive negotiator who relishes the big deal. The lawyer was formerly general counsel at Qatar Investment Authority (QIA), the sovereign wealth fund of the gas-rich Gulf state, before taking the helm as chief executive of Qatar Holding in 2008. ...

Shah Deniz partners back Nabucco West pipeline: BP Posted: 28 Jun 2012 09:15 AM PDT LONDON/BRUSSELS (Reuters) - Azerbaijan's Shah Deniz II consortium, led by BP and Statoil , selected the Nabucco West pipeline as one of two possible routes to carry Caspian gas to western Europe, BP said on Thursday. The decision is part of a long process of elimination to choose a new pipeline to break Russia's dominance of the European Union natural gas market. ...

EU summit works on short-term support for Spain, Italy Posted: 28 Jun 2012 08:42 AM PDT BRUSSELS (Reuters) - European finance officials were working on urgent measures to ease financial market pressure on Spain and Italy, which are too big to bail out, as EU leaders began a summit on Thursday deeply divided over how to resolve the euro zone's debt crisis. French President Francois Hollande said on arriving at his first full European Union summit after six weeks in office that he expected agreement on emergency steps to help euro zone partners whose borrowing costs had reached unsustainable levels. ...

UK drafts in fraud squad as Libor fine hits Barclays Posted: 28 Jun 2012 07:29 AM PDT LONDON (Reuters) - Britain said on Thursday it had brought in the fraud squad to investigate possible crimes and would tighten laws over attempts to manipulate lending rates, a scandal which has engulfed Barclays and is expected to spread to other banks. Shares in Barclays tumbled as much as 18 percent at one point by midday trade, wiping out 4.2 billion pounds from its share price - the biggest one-day fall since 2009, according to Reuters data. Shares were down 14.8 percent at 1113 EDT. The bank agreed to pay a record $453 million fine to U.S. ...

Peugeot Citroen targets China's luxury buyers Posted: 28 Jun 2012 08:59 AM PDT BEIJING (Reuters) - PSA Peugeot Citroen is targeting China's luxury buyers as it strives to win a bigger share of the world's largest auto market and expects sales there to reach 15 percent of its global total by 2015, its Asia head said on Thursday. The struggling French car maker, which last year had 11 percent of its sales in China, aims to almost double its sales of lower-range cars there by 2015 as it comes from behind market leaders General Motors and Volkswagen . ...

JPMorgan drops on report trade loss could be bigger Posted: 28 Jun 2012 06:29 AM PDT NEW YORK (Reuters) - JPMorgan Chase & Co came under renewed scrutiny after the New York Times reported that losses from a bungled credit-derivatives trade could be as much as $9 billion, much more than earlier estimated. Shares of the biggest bank in the United States fell as much as 5.4 percent in trading before the New York Stock Exchange opened as investors and analysts rushed to determine the significance of the report. The shares were down 3.5 percent shortly before the start of trading. ...

Opel supervisory board approves turnaround plan Posted: 28 Jun 2012 06:22 AM PDT FRANKFURT (Reuters) - Opel, the ailing European arm of General Motors , took a key step towards returning the brand to long-term profitability, after its supervisory board voted in favor of a midterm business plan that included "massive" investments in its model range. "The plan approved today paves the way for a strong future for Opel. GM stands behind Opel and supports management and labor," said GM Vice Chairman Stephen Girsky in a statement on Thursday. ...

Analysis: EBA bank watchdog faces own stress test from euro crisis Posted: 28 Jun 2012 08:25 AM PDT LONDON (Reuters) - This time last year the European Banking Authority was fighting a losing battle with Germany's financial regulator, just seven months after it started work as the EU's new supranational watchdog charged with overcoming national differences to tackle the bloc's banking crisis. A year later and the EBA's very survival is in question as the euro zone's leaders debate whether nothing short of a banking union will break the death spiral that links the weak euro debtor nations with the banks whose debt they hold. ...

Analysis: Brief boost for Europe refiners from crude drop Posted: 28 Jun 2012 06:45 AM PDT LONDON (Reuters) - A sharp fall in crude oil prices has gifted European oil refineries a surprise profits surge in June, briefly bucking longer term decline, in a timely bonus for traders Vitol and Gunvor who have bought plants. The strong margins, however, are expected to be short lived as refined fuel prices adjust lower, helped by refiners boosting output to cash in on the windfall, and Europe's dwindling oil demand reasserts itself. Nor is the trend stable enough to attract further new investors in the sector following the recent wave of refining asset purchases. ...

Peugeot increases cuts, prepares closure -unions Posted: 28 Jun 2012 06:07 AM PDT PARIS (Reuters) - Struggling French car maker PSA Peugeot Citroen is seeking additional cost savings this year and freeing capacity at one of its two Paris plants to prepare for the other's closure, union officials said after talks with management. Chief Executive Philippe Varin told workers' representatives on Thursday that the existing 1 billion euro ($1.25 billion) savings goal "will not be enough", senior Force Ouvriere union official Jean-Francois Kondratiuk told Reuters. ...

Glasenberg's dealmaker renown at mercy of Qatar Posted: 28 Jun 2012 05:19 AM PDT LONDON (Reuters) - By rejecting Glencore's coveted acquisition of miner Xstrata , Qatar could also put paid to the reputation of Ivan Glasenberg, chief executive of the commodities trader, as consummate dealmaker. Those who have worked with him on takeovers - and against him defending the companies he targeted - say Glasenberg's self-belief is second to none. That, plus unbending determination, means he normally gets his way. But this time he appears to have been wrong-footed, thinking the support of major Xstrata shareholder Qatar Holdings was in the bag. ...

Slow economic recovery to weigh on U.S. banks: Citi Posted: 28 Jun 2012 04:29 AM PDT (Reuters) - Citi Investment Research cut its price targets and second-quarter outlook on several U.S. banks including Bank of America Corp (BofA) and Goldman Sachs as slow economic recovery hurts trading. After a strong first-quarter performance, the second quarter was an about-face for U.S. banks amid signs of slower growth, re-ignited euro zone concerns, wider credit spreads and falling equity and commodity prices, Citi said. ...

Jobless claims fall last week, but still high Posted: 28 Jun 2012 05:46 AM PDT WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell last week, government data showed on Thursday, but remained too high to signal any major improvement in the labor market. Initial claims for state unemployment benefits fell 6,000 to a seasonally adjusted 386,000, the Labor Department said. The prior week's figure was revised up to 392,000 from the previously reported 387,000. Economists polled by Reuters had forecast claims easing to 385,000 last week. ...

Petronas to buy Canadian gas producer for $4.7 billion Posted: 28 Jun 2012 08:11 AM PDT TORONTO (Reuters) - Malaysia's state oil company on Thursday agreed to buy Canada's Progress Energy Resources Corp for C$4.8 billion ($4.7 billion) to bolster its reserves of natural gas for export to Asian markets. The deal by Malaysia's Petronas comes a year after it formed a joint venture with Progress to develop a portion of Progress Energy's Montney shale assets in the foothills of northeastern British Columbia. Progress owns shale fields in the provinces of British Columbia and Alberta. ...

Jobless claims fall last week, but still high Posted: 28 Jun 2012 05:42 AM PDT WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell last week, government data showed on Thursday, but remained too high to signal any major improvement in the labor market. Initial claims for state unemployment benefits fell 6,000 to a seasonally adjusted 386,000, the Labor Department said. The prior week's figure was revised up to 392,000 from the previously reported 387,000. Economists polled by Reuters had forecast claims easing to 385,000 last week. ...

Exclusive: Saudi readies oil line to counter Iran Hormuz threat Posted: 28 Jun 2012 04:06 AM PDT DUBAI (Reuters) - Saudi Arabia has reopened an old oil pipeline built by Iraq to bypass Gulf shipping lanes, giving Riyadh scope to export more of its crude from Red Sea terminals should Iran try to block the Strait of Hormuz, industry sources say. The Iraqi Pipeline in Saudi Arabia (IPSA), laid across the kingdom in the 1980s after oil tankers were attacked in the Gulf by both sides during the Iran-Iraq war, has not carried Iraqi crude since Saddam Hussein invaded Kuwait in 1990. ...

Analysis: Basque economy has lessons for Spain Posted: 28 Jun 2012 04:37 AM PDT MONDRAGON, Spain (Reuters) - Spain's dash into tourism in the 1970s and its property boom last decade largely passed by the Basque region, a cool, damp corner of the north with a reputation for separatist violence. Instead the Basques stuck with industry, by force of circumstance. Euskadi, the Basque name for the hilly province of 2 million bordering France, now outshines the rest of Spain with a better credit rating than central government, the lowest regional unemployment and borrowing costs half those of other areas. ...

Germany denies report on changed euro bond stance Posted: 28 Jun 2012 05:13 AM PDT BERLIN (Reuters) - Germany's finance ministry denied a report on Thursday that suggested it had modified its opposition to euro bonds and reaffirmed its long-held view that they could only come at the end of a process towards fiscal union. Earlier the Wall Street Journal quoted Finance Minister Wolfgang Schaeuble as saying in an interview published on its website that Germany may be willing to move sooner than expected to accept shared liability of euro zone debt. Asked to comment on the reported comments, ministry spokesman Martin Kotthaus said: "This is not true. ...

IVP raises $1 billion venture fund Posted: 28 Jun 2012 04:00 AM PDT SAN FRANCISCO (Reuters) - Institutional Venture Partners said it had raised a $1 billion fund, IVP XIV, underscoring the ability of a small group of venture firms to raise outsize funds amid a broader environment of lackluster returns. The firm specializes in late-stage venture investments, meaning companies with $20 million or more in revenue, and growth equity, meaning companies with $100 million or more in revenue. Traditional venture companies come in at much earlier stages, perhaps before a company has any revenue. ...

Bernard Madoff's brother to plead guilty, U.S. says Posted: 28 Jun 2012 03:34 AM PDT (Reuters) - Peter Madoff, the brother of imprisoned swindler Bernard Madoff, is expected to plead guilty to criminal charges on Friday, the first family member to do so since the Ponzi schemer's fraud was uncovered in December 2008. In a letter filed Wednesday in Manhattan federal court, U.S. Attorney Preet Bharara said Peter Madoff is expected to plead guilty to charges of conspiracy to commit securities fraud and other crimes, as well as falsifying records. He agreed not to seek a sentence other than 10 years in prison. Madoff, who had been chief compliance officer at Bernard L. ...

Rights group says Apple suppliers in China breaking labor laws Posted: 28 Jun 2012 05:01 AM PDT HONG KONG (Reuters) - Apple Inc's suppliers in China have violated local labor laws when they imposed excessive overtime and skimped on insurance, a New York-based labor rights group said. Apple and its suppliers such as Taiwanese tycoon Terry Gou's Foxconn Technology Group have been the target of labor rights groups, which say the world's most valuable technology company are making iPhones and iPads in massive sweat shops. ...

Companies feel the heat as China slowdown takes toll Posted: 28 Jun 2012 03:59 AM PDT HONG KONG (Reuters) - An economic slowdown in China is taking a toll on a growing number of companies, with a series of profit warnings highlighting how weakness in the world's second-largest economy is hitting earnings and rattling investors across the board. Shareholders of GOME Electrical , China's No.2 home appliance retailer, said at the company's annual general meeting on Thursday that they were concerned about the impact of a China slowdown on the company's sales. ...

T-Mobile's Humm to join Vodafone Posted: 28 Jun 2012 02:36 AM PDT LONDON (Reuters) - Philipp Humm, who quit the top job at T-Mobile USA on Wednesday, said on Thursday he would become chief executive of northern and central Europe for Vodafone from October 1. Humm joins Vodafone from his role as president and chief executive of Deutsche Telekom's T-Mobile USA to oversee the British firm's presence in such markets as Germany, Britain, Turkey and the Czech Republic. Vodafone's operations in northern Europe have held up well in recent years despite the pressures on consumer spending, which has helped to offset the slump in spending in southern Europe. ...

Peugeot increases cuts, plans plant closure: union Posted: 28 Jun 2012 02:15 AM PDT PARIS (Reuters) - Struggling French automaker PSA Peugeot Citroen is increasing its full-year savings target and freeing capacity at a factory near Paris in preparation for the closure of its Aulnay plant, union officials said on Thursday during talks with management. Chief Executive Philippe Varin told workers' representatives that the car maker's target to cut 1 billion euros ($1.25 billion) "will not be enough", senior Force Ouvriere union official Jean-Francois Kondratiuk told Reuters. Peugeot spokesman Pierre-Olivier Salmon declined to comment. ...

Fiat CEO says to relaunch Alfa Romeo in U.S., China Posted: 28 Jun 2012 12:36 AM PDT (Reuters) - Italian auto maker Fiat SpA will relaunch the Alfa Romeo in the United States and then China, Fiat chief executive Sergio Marchionne said on Thursday, without providing a time frame. Marchionne, who is also the CEO of U.S. No. 3 automaker Chrysler Group, made the remark at the launch production ceremony of its joint venture plant with Guangzhou Automobile Corp in Changsha, capital of Hunan province in central China. (Reporting By Alison Leung)

Americans react to historic health care decision Posted: 28 Jun 2012 09:43 AM PDT The mother of two disabled teens called Thursday's Supreme Court ruling on the health care law wonderful because it bars insurance companies from setting lifetime limits for medical expenses — a big help to her family. But a retiree on Medicare called it a "sad day" and worries that the law's new rules coming in 2015 to hold down Medicare costs will interfere with treatments doctors can provide.

How states fared on unemployment aid applications Posted: 28 Jun 2012 09:43 AM PDT The number of people seeking U.S. unemployment benefits fell last week, but the level of applications remains too high to signal a pickup in hiring.

High court upholds Obama health law by 5-4 vote Posted: 28 Jun 2012 09:42 AM PDT The Supreme Court on Thursday upheld virtually all of President Barack Obama's historic health care overhaul, including the hotly debated core requirement that nearly every American have health insurance.

News Summary: Average US loan rates at record lows Posted: 28 Jun 2012 09:40 AM PDT RATES STAY LOW: The average U.S. rate on a 30-year fixed mortgage stayed this week at the lowest level on record.

Top UK police officers probed over phone hacking Posted: 28 Jun 2012 09:33 AM PDT Britain's police watchdog said Thursday that it was investigating two senior police officers whose force failed to act on information that could have blown open the phone hacking scandal well before it erupted last year.

Under scrutiny, Vatican bank opens its doors Posted: 28 Jun 2012 09:29 AM PDT The Vatican bank, one of the most secretive institutions in the secrecy-obsessed Vatican, opened itself up to a little external scrutiny Thursday in a bid to show it's serious about fighting money-laundering and being more financially transparent.

Natural gas prices drop 3 percent Posted: 28 Jun 2012 09:29 AM PDT The price of natural gas dropped more than 3 percent Thursday following reports of an unexpectedly large increase in U.S. supplies.

News Corp announces plans to split Posted: 28 Jun 2012 09:23 AM PDT Calling it the next logical step in a near six-decade evolution, Rupert Murdoch's News Corp. said Thursday that it plans to split into two separate publicly traded companies.

Piracy conference urges public-private solutions Posted: 28 Jun 2012 09:22 AM PDT Diplomats and business leaders at a Dubai conference are pushing for stronger partnerships between the public and private sectors in combating piracy off the coast of Somalia.

High court upholds Obama health law Posted: 28 Jun 2012 09:14 AM PDT The Supreme Court on Thursday upheld virtually all of President Barack Obama's historic health care overhaul, including the hotly debated core requirement that nearly every American have health insurance.

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