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
| Obama, Hollande to press euro crisis remedies at G8
WASHINGTON (Reuters) - President Barack Obama will seek to cement a bond with France's new leader at the White House on Friday before heading to Camp David for a G8 summit where he is set to press Europe to do more to fix the region's deepening economic crisis. Francois Hollande, sworn in this week as French president, has already made waves by challenging Europe's austerity focus and saying he will pull French combat troops from Afghanistan by the end of this year. ...
2012-05-18T05:08:49Z
| Exclusive: U.N. probes possible North Korea arms trade with Syria, Myanmar
UNITED NATIONS (Reuters) - A U.N. panel of experts that monitors compliance with sanctions on North Korea is investigating reports of possible weapons-related deals between Pyongyang and Syria and Myanmar, the panel said in a confidential report seen by Reuters on Thursday. "The DPRK (North Korea) continues actively to defy the measures in the (U.N. sanctions) resolutions," the panel said in the report, which it submitted to the U.N. Security Council's North Korea sanctions committee earlier this week. ...
2012-05-18T01:17:19Z
| 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
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Current News Today
Pacers pound Heat 94-75 in Game 3 (Yahoo! Sports)
INDIANAPOLIS (AP) LeBron James grabbed a seat on Miami's bench, lowered his head and stared down at the floor.
Thu, 17 May 2012 21:38:27 PDT
| 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
| Eagles RB McCoy gets new deal through 2017 (Yahoo! Sports)
PHILADELPHIA (AP) LeSean McCoy ran his way onto the short list of the best running backs in the NFL. He can now stamp his name among the highest paid.
Thu, 17 May 2012 19:54:26 PDT
| LA Kings beat Phoenix, move to brink of Cup final (Yahoo! Sports)
LOS ANGELES (AP) When Daymond Langkow beat Jonathan Quick on a breakaway and celebrated Phoenix's first lead in the Western Conference finals, captain Dustin Brown was almost curious how his Los Angeles Kings would respond to the first serious adversity they've faced in weeks.
Thu, 17 May 2012 22:02:36 PDT
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Current News Today
Global shares slide amid fears for Spanish banks, growth
TOKYO (Reuters) - Asian shares tumbled on Friday and were set for their worst weekly showing since September, amid political turmoil in Greece and signs of growing instability in Spanish banks, with investors adding the latest weak U.S. data to the list of risk factors. Assets across the board, from commodities such as oil and gold to riskier currencies such as the euro and the Australian dollar were all heading for their weekly losses. ...
2012-05-18T05:55:15Z
| Investors brace for Facebook debut on Wall Street
(Reuters) - Investors are bracing for Facebook's Wall Street debut on Friday after the world's No.1 online social network raised about $16 billion in one of the biggest initial public offerings in U.S. history. Valued at $104 billion, Facebook is larger than Starbucks Corp and Hewlett-Packard combined, sparking intense speculation on how much higher its valuation will rise once shares start trading. "A 15 to 20 percent pop is in the realm of possibility," said Tim Loughran, a finance professor at the University of Notre Dame. ...
2012-05-18T04:08:58Z
| Spain hires Goldman Sachs to value Bankia: report
MADRID (Reuters) - The Spanish government has hired Goldman Sachs to carry out an independent valuation of Bankia , the ailing bank taken over by the state last week, Spanish newspaper Expansion said on Friday. The U.S. bank will review Bankia's and its parent company BFA's books and determine within a month how much the state should inject to refloat the lender, which had to be rescued after its auditor, Deloitte, identified several gaps in last year's accounts. ...
2012-05-18T06:25:58Z
| 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
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Current News Today
New evidence in Trayvon Martin case raises more questions
Trayvon Martin's autopsy shows he had marijuana in his system the night he was killed by neighborhood watch volunteer George Zimmerman, and a gunshot to his chest came from close range, according to nearly 200 pages of previously undisclosed documents released Thursday.
2012-05-18T03:58:30Z
| Next on the agenda: Guns-and-butter diplomacy
President Barack Obama on Friday kicks off a frenetic four days of guns-and-butter diplomacy, including a pair of high-stakes international summits focused on reviving the sputtering global economy and winding down the unpopular war in Afghanistan. Both issues will shape Obama's legacy — not to mention his hopes for re-election in November. And the back-to-back [...]
2012-05-17T23:11:51Z
| Facebook set for big first-day pop
Facebook Inc is set to raise up to $18.4 billion in its IPO and become the first U.S. company to be worth more than $100 billion at its debut, as investors bet on a big pop in the stock when it begins trading on the Nasdaq on Friday.
2012-05-18T01:50:17Z
| Colorado wildfire grows amid erratic wind gusts
Hundreds of firefighters worked to combat a growing blaze that was scorching terrain around a scenic canyon in northern Colorado.
2012-05-18T03:03:12Z
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