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Euro zone needs growth and austerity: ECB's Asmussen

A sculpture showing the Euro currency sign is seen in front of the European Central Bank (ECB) headquarters in FrankfurtBERLIN (Reuters) - Europe's fiscal pact must not be renegotiated or softened but could be complemented by growth-enhancing measures, European Central Bank Executive Board member Joerg Asmussen said on Monday. Asmussen also stressed that the ECB's non-standard measures - introduced to fight the debt crisis - were of a temporary nature and could be withdrawn any time if inflation risks emerged. There is a growing push in the euro zone, led by newly elected French President Francois Hollande, to do more to stimulate growth and not just focus on reducing deficits. ...


APNewsBreak: 22 states join campaign finance fight

FILE - Montana Attorney General Steve Bullock is seen at an event in which he announced the start of his 2012 gubernatorial campaign on in this Sept. 7, 2011 file photo taken in Billings, Mont. Twenty-two states and the District of Columbia are backing Montana in its fight to prevent the U.S. Supreme Court's 2010 Citizens United decision from being used to strike down state laws restricting corporate campaign spending. Bullock argues that political corruption in the Copper King era led to the state ban on corporate campaign spending. A clarification of Citizens United is needed to make clear that states can block certain political spending in the interest of limiting corruption, he said. On Friday, May 18, 2012 Montana's case was given a boost when U.S. Sens. John McCain, R-Ariz., and Sheldon Whitehouse, D-D-R.I., signed on in support. (AP Photo/Matthew Brown, File)Twenty-two states and the District of Columbia are backing Montana in its fight to prevent the U.S. Supreme Court's 2010 Citizens United decision from being used to strike down state laws restricting corporate campaign spending.


APNewsBreak: 22 states join campaign finance fight

FILE - Montana Attorney General Steve Bullock is seen at an event in which he announced the start of his 2012 gubernatorial campaign on in this Sept. 7, 2011 file photo taken in Billings, Mont. Twenty-two states and the District of Columbia are backing Montana in its fight to prevent the U.S. Supreme Court's 2010 Citizens United decision from being used to strike down state laws restricting corporate campaign spending. Bullock argues that political corruption in the Copper King era led to the state ban on corporate campaign spending. A clarification of Citizens United is needed to make clear that states can block certain political spending in the interest of limiting corruption, he said. On Friday, May 18, 2012 Montana's case was given a boost when U.S. Sens. John McCain, R-Ariz., and Sheldon Whitehouse, D-D-R.I., signed on in support. (AP Photo/Matthew Brown, File)Twenty-two states and the District of Columbia are backing Montana in its fight to prevent the U.S. Supreme Court's 2010 Citizens United decision from being used to strike down state laws restricting corporate campaign spending.


Obama Video Hts Romney Role in Ampad Bankruptcy

The story of Ampad, a company acquired by Bain Capital in 1992 that later went bankrupt, was used successfully by Democrats 18 years ago to help derail Mitt Romney’s run for a U.S. Senate seat from Massachusetts. Now, the Obama campaign is resurrecting the case...

Coast Guard: No US guard attacked in Yemen

The U.S. Coast Guard is disputing a report that Guard members were attacked while on a training mission in Yemen.

Conservative donors slow to back Romney's campaign

Republican frontrunner Mitt Romney and his party raised a sizable $40 million last month from donors who want him to replace President Barack Obama. But even as Romney solidifies his position as the eventual GOP nominee, many supporters who backed his primary election challengers have not yet come to his aid.

Conservative donors slow to back Romney's campaign

Republican frontrunner Mitt Romney and his party raised a sizable $40 million last month from donors who want him to replace President Barack Obama. But even as Romney solidifies his position as the eventual GOP nominee, many supporters who backed his primary election challengers have not yet come to his aid.

Protesters march on Malian presidential palace

BAMAKO (Reuters) - Thousands of protesters marched on Mali's presidential palace on Monday, paralyzing traffic in the capital Bamako in a demonstration against an internationally-backed accord to extend the mandate of civilian president Dioncounda Traore. Some protesters at the gates of the palace shouted slogans in support of Captain Amadou Sanogo, the officer who led the March 22 military coup which unintentionally emboldened northern rebels to seize two-thirds of the West African country. ...

UK culture minister faces probe on disclosure

The British Parliament's commissioner for standards has opened an investigation into Culture Secretary Jeremy Hunt, who has faced calls for his resignation over his office's dealings with Rupert Murdoch's News Corp.

Alain Resnais back in Cannes competition at 89

Actress Sabine Azema, left and director Alain Resnais pose during a photo call for You Haven't Seen Anything Yet at the 65th international film festival, in Cannes, southern France, Monday, May 21, 2012. (AP Photo/Francois Mori)The Cannes Film Festival has received a dose of theater in the form of French director Alain Resnais' new film.


Yemen bomber kills at least 63 soldiers on parade

Forensic policemen collect evidence at the site of a suicide bomb attack at a parade square in SanaaSANAA (Reuters) - A suicide bomber infiltrated a military parade rehearsal in Yemen's capital Sanaa on Monday, killing at least 63 people in the bloodiest single attack in the city in recent years of instability. Dozens of people, mostly soldiers, were also wounded in the bombing, which left blood and body parts scattered over a wide area. Yemen's defence minister and chief of staff were both present at the event, a rehearsal for Tuesday's National Day parade, but neither was hurt. Officials suspect the attack was carried out by a rogue soldier. ...


Yemen bomber kills at least 63 soldiers on parade

Forensic policemen collect evidence at the site of a suicide bomb attack at a parade square in SanaaSANAA (Reuters) - A suicide bomber infiltrated a military parade rehearsal in Yemen's capital Sanaa on Monday, killing at least 63 people in the bloodiest single attack in the city in recent years of instability. Dozens of people, mostly soldiers, were also wounded in the bombing, which left blood and body parts scattered over a wide area. Yemen's defence minister and chief of staff were both present at the event, a rehearsal for Tuesday's National Day parade, but neither was hurt. Officials suspect the attack was carried out by a rogue soldier. ...


Barclays to sell $6.1 billion BlackRock stake

A man walks past a branch of Barclays bank in central LondonLONDON (Reuters) - British bank Barclays is selling its near-20 percent stake in U.S. asset manager BlackRock, worth $6.1 billion, as tougher global regulations have cut the attraction of such holdings. Barclays has held the stake for almost three years, a legacy of BlackRock's $13.5 billion purchase of Barclays Global Investors, but Basel III regulations mean banks have to hold more capital against minority stakes in asset managers and other firms, making it less profitable. ...


Lowe's 1Q profit up, but cuts 2012 profit outlook

FILE -- In a Nov. 14, 2011 file photo, customers walk toward the Lowe's store in Saugus, Mass. Lowe's Cos.'reported Monday May 21, 2012, first-quarter profit climbed 14 percent, as warmer weather helped boost sales. (AP Photo/Michael Dwyer/file)Lowe's Cos.' first-quarter profit climbed 14 percent, as warmer weather helped boost sales. But the world's second-biggest home improvement company lowered its full-year earnings forecast on Monday, saying it is still cautious on the housing market and economic conditions.


Ukrainians launch hosting project for Euro 2012

A group of Ukrainian activists has launched a project to provide free accommodation, translation and other services to foreign guests attending the Euro 2012 football championship following criticism of the prices being charged by many hotels.

Stock futures signal rebound, G8 assures investors

Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) - Stock index futures rose on Monday after Wall Street posted its worst weekly loss for the year and on assurances that world powers want debt-laden Greece to remain in the euro zone. On Saturday, G8 leaders stressed that their "imperative is to promote growth and jobs" and gave verbal backing for Greece to stay in the euro, but despite calls from the United States for immediate moves to boost growth, no sign emerged that Germany would soften its stance on austerity as the cure for Europe's debt problems. ...


Campbell's profit slips amid sluggish soup sales

Campbell Soup Co.'s net income slipped by 5 percent in the latest quarter as it struggled to balance higher costs for ingredients and sluggish soups sales, the company said Monday.

Facebook falls below $38 issue price in premarket

Monitors show value of Facebook, Inc. stock before closing bell at NASDAQ Marketsite in New YorkNEW YORK (Reuters) - Facebook Inc shares fell below their $38 issue price in premarket trading on Monday as support from underwriters of the initial public offering dissipated after its debut on Friday. The social networking company's debut was marred by a shaky opening on the Nasdaq which will be reviewed by the SEC and a falling share price which forced lead underwriter Morgan Stanley to defend the $38 price level by purchasing shares on the open market. Shares were down 2.4 percent to $37.30 in premarket. (Reporting By Chuck Mikolajczak; Editing by Theodore d'Afflisio)


Jury to reconvene in ex-Senator Edwards' federal trial

John Edwards arrives at the federal courthouse for jury deliberations in GreensboroGREENSBORO, North Carolina (Reuters) - Jurors were set to resume deliberations on Monday in the federal campaign finance case against former U.S. Senator John Edwards, who is accused of using campaign funds to hide his pregnant mistress as he sought the presidency. A jury of eight men and four women in Greensboro, North Carolina, considered the case for about 5 1/2 hours on Friday before breaking for the weekend. They must reach a unanimous verdict to convict Edwards, a two-time presidential candidate and the Democrats' 2004 vice presidential nominee, on any of the six felony counts he faces. ...


Jury to reconvene in ex-Senator Edwards' federal trial

John Edwards arrives at the federal courthouse for jury deliberations in GreensboroGREENSBORO, North Carolina (Reuters) - Jurors were set to resume deliberations on Monday in the federal campaign finance case against former U.S. Senator John Edwards, who is accused of using campaign funds to hide his pregnant mistress as he sought the presidency. A jury of eight men and four women in Greensboro, North Carolina, considered the case for about 5 1/2 hours on Friday before breaking for the weekend. They must reach a unanimous verdict to convict Edwards, a two-time presidential candidate and the Democrats' 2004 vice presidential nominee, on any of the six felony counts he faces. ...


Jury to reconvene in ex-Senator Edwards' federal trial

John Edwards arrives at the federal courthouse for jury deliberations in GreensboroGREENSBORO, North Carolina (Reuters) - Jurors were set to resume deliberations on Monday in the federal campaign finance case against former U.S. Senator John Edwards, who is accused of using campaign funds to hide his pregnant mistress as he sought the presidency. A jury of eight men and four women in Greensboro, North Carolina, considered the case for about 5 1/2 hours on Friday before breaking for the weekend. They must reach a unanimous verdict to convict Edwards, a two-time presidential candidate and the Democrats' 2004 vice presidential nominee, on any of the six felony counts he faces. ...


Defense Ministry: 60 killed in Yemen suicide blast

A policeman collects evidence at the site of a suicide bomb attack at a parade square in Sanaa, Yemen, Monday, May 21, 2012. Officials say Monday's bombing near Sanaa's presidential palace is one of the deadliest attacks in the city in months. (AP Photo/Hani Mohammed)Yemen's defense ministry says the death toll in a suicide bombing at a military parade rehearsal in the capital Sanaa has risen to 60.


US futures head higher; economists see some growth

In a May 7, 2012 photo trader Richard Newman works on the floor of the New York Stock Exchange. A weekend summit in Washington among leaders of the world's most powerful nations provided little in the way of encouragement for investors already nervous about the political turmoil in Greece. (AP Photo/Richard Drew)Stock futures are rising with a new survey suggesting that economists are a bit more optimistic about housing and employment.


Spain to slump further but will hit deficit goal

Spain's Economy Minister De Guindos listens to a question at a conference in MadridMADRID (Reuters) - Spain said on Monday it would meet its deficit targets this year despite a new slippage in its regions' accounts and a further contraction of the economy in the second quarter. Economy Minister Luis de Guindos said economic activity would likely slump by another 0.3 percent between April and June, further fuelling doubts about the country's ability to get a grip on in its finances and nurse an ailing banking sector back to health. ...


US warns NKorea against another nuke test

U.S. envoy on North Korea, Glyn Davies answers reporter's questions after meeting with South Korea's chief nuclear envoy Lim Sung-nam and Lim's Japanese counterpart Shinsuke Sugiyama at the Foreign Ministry in Seoul, South Korea, Monday, May 21, 2012. The top U.S. envoy for North Korea is warning Pyongyang that any nuclear test will be met with The top U.S. envoy for North Korea warned Pyongyang on Monday that any nuclear test would be a serious miscalculation that would unify the world in seeking swift, tough punishment.


At least 45 arrests, some injuries in Chicago anti-NATO clashes

Police officers arrest a protester near the site of the NATO Summit in ChicagoCHICAGO (Reuters) - Four police officers were injured and 45 demonstrators arrested after baton-wielding police clashed with anti-war protesters marching on the NATO summit in Chicago on Sunday, police said. A lawyer's group assisting protesters challenged police figures, saying at least 12 protesters were hurt, some with head wounds from police batons, and more than 60 people detained. The confrontation began after a 2 1/2 mile march from a Chicago park to near the site of the summit, where leaders of the NATO alliance are discussing the war in Afghanistan. ...


At least 45 arrests, some injuries in Chicago anti-NATO clashes

Police officers arrest a protester near the site of the NATO Summit in ChicagoCHICAGO (Reuters) - Four police officers were injured and 45 demonstrators arrested after baton-wielding police clashed with anti-war protesters marching on the NATO summit in Chicago on Sunday, police said. A lawyer's group assisting protesters challenged police figures, saying at least 12 protesters were hurt, some with head wounds from police batons, and more than 60 people detained. The confrontation began after a 2 1/2 mile march from a Chicago park to near the site of the summit, where leaders of the NATO alliance are discussing the war in Afghanistan. ...


At least 45 arrests, some injuries in Chicago anti-NATO clashes

Police officers arrest a protester near the site of the NATO Summit in ChicagoCHICAGO (Reuters) - Four police officers were injured and 45 demonstrators arrested after baton-wielding police clashed with anti-war protesters marching on the NATO summit in Chicago on Sunday, police said. A lawyer's group assisting protesters challenged police figures, saying at least 12 protesters were hurt, some with head wounds from police batons, and more than 60 people detained. The confrontation began after a 2 1/2 mile march from a Chicago park to near the site of the summit, where leaders of the NATO alliance are discussing the war in Afghanistan. ...


Prominent rival of Sri Lanka president walks free

Jailed former army chief Fonseka waves to his supporters as he leaves a private hospital with prison officers in ColomboCOLOMBO (Reuters) - Sri Lanka's former army chief walked free from jail on Monday with a pardon from President Mahinda Rajapaksa, who appears to have bowed to growing international demands that he release his highest-profile rival. Ex-General Sarath Fonseka kissed his hands and raised them to a group of 2,000 supporters who cheered "Victory to our war hero! Victory to our leader!" and lit firecrackers outside the maximum security prison. Some waved the national flag, emblazoned with a lion and a sword, as he released a white dove symbolizing peace. ...


Prominent rival of Sri Lanka president walks free

Jailed former army chief Fonseka waves to his supporters as he leaves a private hospital with prison officers in ColomboCOLOMBO (Reuters) - Sri Lanka's former army chief walked free from jail on Monday with a pardon from President Mahinda Rajapaksa, who appears to have bowed to growing international demands that he release his highest-profile rival. Ex-General Sarath Fonseka kissed his hands and raised them to a group of 2,000 supporters who cheered "Victory to our war hero! Victory to our leader!" and lit firecrackers outside the maximum security prison. Some waved the national flag, emblazoned with a lion and a sword, as he released a white dove symbolizing peace. ...


Ex-Yahoo CEO Thompson resigns from Splunk board

(Reuters) - Data analytics software maker Splunk Inc said former Yahoo Inc CEO Scott Thompson has resigned from its board of directors, effective May 18. "In regard to recent health issues, we wish Scott all the best for a fast and full recovery," Splunk Chief Executive Godfrey Sullivan said in a statement. Thompson, who had joined Splunk's board in October, was reported to have been diagnosed with thyroid cancer. Thompson stepped down as Yahoo chief last week, 10 days after activist investor Daniel Loeb accused him of padding his biography by faking a computer science degree. ...

Aftershocks rattle Italy, residents sleep outdoors

The old tower is seen collapsed after an earthquake in Finale EmiliaFINALE EMILIA, Italy (Reuters) - Thousands of people in northern Italy slept in tents and cars overnight as more than 100 aftershocks rocked the area hit by a magnitude 6.0 earthquake that killed seven people and inflicted heavy damage to centuries-old cultural sites. "The fear that your house will collapse on your head is great, so it was good to be able to sleep in this tent," said one man who spent the night outdoors, cold but safe, in the town of San Felice sul Panaro. ...


Aftershocks rattle Italy, residents sleep outdoors

The old tower is seen collapsed after an earthquake in Finale EmiliaFINALE EMILIA, Italy (Reuters) - Thousands of people in northern Italy slept in tents and cars overnight as more than 100 aftershocks rocked the area hit by a magnitude 6.0 earthquake that killed seven people and inflicted heavy damage to centuries-old cultural sites. "The fear that your house will collapse on your head is great, so it was good to be able to sleep in this tent," said one man who spent the night outdoors, cold but safe, in the town of San Felice sul Panaro. ...


Ukraine's topless fighters plot to storm the Euros

Ukrainian interior servicemen stand in front of EURO-2012-themed decoration in KievKIEV (Reuters) - Anna darts gleefully around the two sparsely-furnished rooms situated through an archway off a steep street that climbs up from Kiev's Independence Square. She is a general showing off her new headquarters. "This is going to be our training room for our Euro strikes," she says. "That's for the girls to get fit on for when they scrap with the police or have to run away from them," she says, pointing to a set of wall-bars and an overhead muscle-tone pulley-bar by the front door. ...


Alibaba buys back 20 percent stake held by Yahoo for $7.1 billion

Employees play table tennis inside the headquarters office of Alibaba (China) Technology Co. Ltd on the outskirts of HangzhouSHANGHAI/NEW YORK (Reuters) - Chinese Internet entrepreneur Jack Ma is buying back up to half of a 40 percent stake in his Alibaba Group from Yahoo Inc for $7.1 billion, in a deal that moves the Chinese e-commerce leader closer to a public listing. Under the agreement, Yahoo will sell half its stake in Alibaba for at least $6.3 billion in cash and up to $800 million in new Alibaba preferred stock. ...


Alibaba buys back 20 percent stake held by Yahoo for $7.1 billion

Employees play table tennis inside the headquarters office of Alibaba (China) Technology Co. Ltd on the outskirts of HangzhouSHANGHAI/NEW YORK (Reuters) - Chinese Internet entrepreneur Jack Ma is buying back up to half of a 40 percent stake in his Alibaba Group from Yahoo Inc for $7.1 billion, in a deal that moves the Chinese e-commerce leader closer to a public listing. Under the agreement, Yahoo will sell half its stake in Alibaba for at least $6.3 billion in cash and up to $800 million in new Alibaba preferred stock. ...


Lockerbie bomber Megrahi to be buried in Libya

File photograph shows emergency service workers next to the wreckage of Pan Am flight 103 near Lockerbie in ScotlandTRIPOLI (Reuters) - The Libyan convicted of the 1988 bombing of a PanAm flight over Lockerbie will be buried on Monday in a quiet ceremony that Libyans hope will allow them to leave behind the controversy that surrounded him in life. Abdel Basset al-Megrahi, who always said he was not responsible for bringing down the jumbo jet on the Scottish town and killing 270 people, died in his bed in Tripoli on Sunday surrounded by family. His release from jail in 2009 caused huge controversy in Britain and the United States, where most of the victims were from. ...


Croatia opposition picks former spy as leader

ZAGREB (Reuters) - Croatia's main opposition party HDZ elected former spy chief Tomislav Karamarko as its leader on Monday, marking a shift back to its strongly nationalist roots and raising the political temperature in the future EU member. The Croatian Democratic Union (HDZ) shed its hardline image as it ruled for 16 of the 20 years since independence, but it lost power to a centre-left bloc in December and is now on trial for corruption. ...

Rajat Gupta faces jury in insider trading case

File photo of Rajat Gupta, a former director of Goldman Sachs Group Inc., exiting Manhattan Federal Court in New YorkNEW YORK (Reuters) - Barely a day went by at the insider-trading trial of multimillionaire hedge-fund founder Raj Rajaratnam a year ago without mention of Rajat Gupta, a boldface name in business and charity circles. On Monday in the same federal court in New York, it will be Gupta's turn to go on trial. The former Goldman Sachs Group Inc and Procter & Gamble board member is accused of leaking stock secrets to Rajaratnam, his erstwhile friend and business associate who was convicted and is now in prison. ...


Euro zone needs growth and austerity: ECB's Asmussen

A sculpture showing the Euro currency sign is seen in front of the European Central Bank (ECB) headquarters in FrankfurtBERLIN (Reuters) - Europe's fiscal pact must not be renegotiated or softened but could be complemented by growth-enhancing measures, European Central Bank Executive Board member Joerg Asmussen said on Monday. Asmussen also stressed that the ECB's non-standard measures - introduced to fight the debt crisis - were of a temporary nature and could be withdrawn any time if inflation risks emerged. There is a growing push in the euro zone, led by newly elected French President Francois Hollande, to do more to stimulate growth and not just focus on reducing deficits. ...


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