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Octogenarians race to be oldest Everest climber

In this Friday, May 17, 2013 photo distributed by Miura Dolphins, 80-year-old Japanese adventurer Yuichiro Miura, right, and his son, Gota, rest on their way to a camp at 6,500 meters (21,325 feet) from a camp at 6,050 meters (19,849 feet) during their attempt to scale the summit of Mount Everest. According to his management office, Miura plans to reach the 8,850-meter (29,035-foot) peak on Thursday, May 23 to be the world's oldest person to reach the world's highest peak. (AP Photo/Miura Dolphins) MANDATORY CREDIT KATMANDU, Nepal (AP) — An 80-year-old Japanese extreme skier who climbed Mount Everest five years ago, but just missed becoming the oldest man to reach the summit, was back on the mountain Wednesday to make another attempt at the title.


Bank of England remains divided on stimulus

LONDON (AP) — The Bank of England's policymakers remain divided on whether to provide more stimulus to the flat-lining economy.

Sony mulls hedge fund's entertainment sale idea

TOKYO (AP) — Sony's CEO Kazuo Hirai says the company's board will discuss a proposal by U.S. hedge fund manager Daniel Loeb to spin off up to 20 percent of its movie, TV and music division.

EU mission seeks to rebuild Mali army after U.S. faltered

French soldiers, part of the European Union training mission in Mali, look on as Malian soldiers practise manning a checkpoint and arresting a suspect in Koulikoro By David Lewis KOULIKORO, Mali (Reuters) - Under a blazing sun and the critical gaze of British and Irish instructors, a line of 11 Malian soldiers lie prone in the dust firing AK-47 rounds at targets, one-by-one. "One out of 10 - not very good," Captain Ibrahim Soumassa, commander of the Malian unit, tells one of the men. "We're at 25 meters. When we're at 100, it'll be difficult." A European Union training mission faces a considerable challenge as it seeks to succeed where years of U.S. ...


China's Li offers to help end Pakistan energy crisis

A soldier and police officer gesture as they secure the area and clear the roads before the motorcade of Chinese Premier Li passes by in Islamabad By Nick Macfie ISLAMABAD (Reuters) - China and Pakistan should make cooperation on power generation a priority, Chinese Premier Li Keqiang said, as Islamabad seeks to end an energy crisis that triggers power cuts of up to 20 hours a day, bringing the economy to a near standstill. Li arrived in the Pakistan capital under extra-tight security on Wednesday on the second leg of his first official trip since taking office in March after a visit to Pakistan's and China's arch rival, India. Li's plane was escorted by six air force fighter jets as it entered Pakistan air space. ...


7 Egyptian security men kidnapped in Sinai freed

Egyptian Army soldiers patrol in an armored vehicle backed by a helicopter gunship during a sweep through villages in in Sheikh Zuweyid, northern Sinai, Egypt, Tuesday, May 21, 2013. Egypt's government has built up security forces in northern Sinai as part of an effort to secure the release of six policemen and a border guard kidnapped last week by suspected militants. (AP Photo) CAIRO (AP) — Six Egyptian policemen and a border guard kidnapped by suspected militants in the volatile Sinai Peninsula last week were freed by their captors Wednesday after successful mediation, the country's military spokesman said.


Airbus wins Oman Air order for three A330 planes

A visitor looks at replica aircrafts on the Airbus booth during the Annual European Business Aviation Convention & Exhibition at Cointrin airport in Geneva PARIS (Reuters) - Airbus has won an order for three A330-300 aircraft from Oman Air, the national carrier of the Sultanate of Oman, the European planemaker said on Wednesday. The order, which Airbus said would bring Oman Air's A330 fleet to 10 aircraft, is worth about $720 million based on list prices. The planes will be operated on long-haul routes and can seat close to 300 passengers, Airbus said. (Reporting by James Regan; Editing by John Irish)


Iran's Ahmadinejad denounces election decision

TEHRAN, Iran (AP) — Iranian President Mahmoud Ahmadinejad says a decision by election overseers to disqualify his top aide from an upcoming presidential race is an act of "oppression" and he will take the case to the country's Supreme Leader Ayatollah Ali Khamenei.

Chinese premier begins 2-day visit to Pakistan

A man walks next to huge portraits of Chinese Premier Li Keqiang, right, and Pakistani President Asif Ali Zardari, left, displayed near the presidency in Islamabad, Pakistan. Keqiang will arrive in Islamabad on May 22 on a two day official visit to hold talks with Pakistani leadership to discuss international, regional issues and enhance co-operation in bilateral ties. (AP Photo/Anjum Naveed) ISLAMABAD (AP) — Pakistan says it shares "identical views" on foreign policy with China, whose premier is beginning a two-day visit to Islamabad in the latest sign of the tight relationship between the two Asian powers.


Freeport can't say when Indonesia mine to reopen, confirms 28 dead

Freeport McMoran Chief Executive Richard Adkerson chats with Indonesian Minister of Energy and Mineral Resources Jero Wacik during a news conference after their meeting in Jakarta By Michael Taylor and Yayat Supriatna JAKARTA (Reuters) - Freeport McMoRan Copper and Gold Inc said it will not restart production at the world's second-largest copper mine in Indonesia after a tunnel collapse that killed 28 workers until it is convinced of the mine's safety. Arizona-based Freeport suspended operations at the remote Papua mine on Wednesday last week, at a cost estimated at about $15 million a day in lost production, a day after a training tunnel away from its main operations fell in on 38 workers. ...


Ai Weiwei uses music to mock state power in China

Artist Ai Weiwei speaks to journalists at his studio in Beijing, China, Wednesday, May 22, 2013. Ai's music video accompanying his heavy metal single “Dumbass’’ released Wednesday depicts an insensitive, overbearing state power that tramples on individual rights. The video is meant to reconstruct his 81-day secret detention in 2011, which was part of the overall crackdown by Chinese authorities on dissent. Ai later was convicted of tax evasion, which his supporters saw as punishment for his activism.(AP Photo/Alexander F. Yuan) BEIJING (AP) — Two emotionless prison guards watch Ai Weiwei as he eats, sleeps, paces, showers — and even sits on the toilet — in the Chinese artist's new obscenity-filled, metaphor-rich music video mocking state power.


Kerry praises $2.1 billion Raytheon deal in Oman

U.S. Secretary of State John Kerry, left, meets with Oman's Sultan Qaboos bin Said at Bait Al Baraka in Muscat, Oman, Tuesday, May 21, 2013. (AP Photo?Jim Young,Pool) MUSCAT, Oman (AP) — U.S. Secretary of State John Kerry met Wednesday with officials in Oman to discuss their plans to buy a $2.1 billion air defense system from American manufacturer Raytheon.


Dollar dips, shares mixed ahead of Bernanke testimony

A man walks through the lobby of the London Stock Exchange By Richard Hubbard LONDON (Reuters) - The dollar dipped and benchmark Bund futures rose on Wednesday as expectations hardened that the head of the U.S. central bank will later in the day signal no tapering off of the bank's ultra-easy monetary policy. Ben Bernanke, who speaks before the Joint Economic Committee of the U.S. Congress at 1400 GMT (10 a.m. EDT), is expected to follow the line set by two other Federal Reserve officials, who struck a dovish tone on the economy on Tuesday. ...


Militants release seven Egyptians kidnapped in Sinai

A helicopter flies overhead as soldiers in military vehicles proceed towards al-Jura district in El-Arish city CAIRO (Reuters) - Seven members of the Egyptian security forces kidnapped by Islamist militants in Sinai last week were released on Wednesday, ending a crisis that has highlighted lawlessness in the desert peninsula bordering Israel. Security sources said the men were freed following talks mediated by Bedouin tribal leaders. They were handed over to the army in an area south of Rafah, a town straddling the border with the Palestinian Gaza Strip. ...


Weak yen a help for Japan, but headache elsewhere

In this Dec. 20, 2012 photo, trucks for export park at a port in Yokohama, west of Tokyo. A steady decline in the yen is proving a godsend for exporters such as Toyota and has won solid support from Japan’s main trading partners, who are betting the impact on their own currencies will be offset by gains from a recovery in the world’s third-largest economy. (AP Photo/Koji Sasahara) TOKYO (AP) — A steady decline in the yen is proving a godsend for exporters such as Toyota and has won solid support from Japan's main trading partners, who are betting the impact on their own currencies will be offset by gains from a recovery in the world's third-largest economy. It's not such good news for entrepreneurs like Thamonwan Thawornthaweewong, whose Angry Bird fish balls, squid rings and other products now cost more to sell in Japan.


Weak yen a help for Japan, but headache elsewhere

In this Dec. 20, 2012 photo, trucks for export park at a port in Yokohama, west of Tokyo. A steady decline in the yen is proving a godsend for exporters such as Toyota and has won solid support from Japan’s main trading partners, who are betting the impact on their own currencies will be offset by gains from a recovery in the world’s third-largest economy. (AP Photo/Koji Sasahara) TOKYO (AP) — A steady decline in the yen is proving a godsend for exporters such as Toyota and has won solid support from Japan's main trading partners, who are betting the impact on their own currencies will be offset by gains from a recovery in the world's third-largest economy. It's not such good news for entrepreneurs like Thamonwan Thawornthaweewong, whose Angry Bird fish balls, squid rings and other products now cost more to sell in Japan.


Germany celebrates composer Wagner's 200th

FILE - This undated photo shows German composer Richard Wagner. The 200th anniversary of Richard Wagner's birth is May 22, and the world's opera houses and symphony halls are filled with his music this year along with the compositions of Giuseppe Verdi, whose 200th birthday is Oct. 10. (AP Photo/Trinquart, File) BERLIN (AP) — Germany is celebrating the 200th anniversary of Richard Wagner with the unveiling Wednesday of a monument in the composer's birthplace of Leipzig.


Afghan students protest women's rights decree

KABUL, Afghanistan (AP) — Hard-line Islamist students are protesting in the Afghan capital demanding the repeal of a presidential decree for women's rights that they say is un-Islamic.

Rolls-Royce wins engine order from U.S. lessor CIT

Exhibitor stands in front of a booth displaying Rolls-Royce aircraft engines at the China International Aviation & Aerospace Exhibition in Zhuhai LONDON (Reuters) - Britain's Rolls-Royce has won a contract to supply engines to power 23 Airbus aircraft ordered by U.S. leasing company CIT Aerospace, it said on Wednesday. Rolls, the world's second-largest maker of aircraft engines behind U.S. group General Electric , said the deal included Trent XWB engines to power 10 A350 aircraft and Trent 700 engines for 13 Airbus A330 jets. The Trent XWB, specifically designed for the Airbus A350, is the fastest selling Trent engine ever, with more than 1,200 already sold, according to Rolls. The A350 is due to enter service in 2014. ...


Immigration bill heads to full Senate

FILE - In this May 20, 2013 file photo, Senate Judiciary Committee Chairman Patrick Leahy, D-Vt., left, confers with Sen. Chuck Schumer, D-N.Y., center, and Sen. Dianne Feinstein, D-Calif., as the Senate Judiciary Committee assembled to work on a landmark immigration bill to secure the border and offer citizenship to millions, on Capitol Hill in Washington. Leading senators working on immigration legislation reached a compromise Tuesday on the details of an expanded high-tech visa program, officials said as the Senate Judiciary Committee neared completion of its work on the measure. At the same time, several officials said the White House has made it known to Leahy that it would prefer postponing a showdown over the rights of same sex spouses until a vote in the full Senate. (AP Photo/J. Scott Applewhite, File) WASHINGTON (AP) — A far-reaching bill to remake the nation's immigration system is headed to the full Senate, where tough battles are brewing on gay marriage, border security and other contentious issues, with the outcome impossible to predict.


Immigration bill heads to full Senate

FILE - In this May 20, 2013 file photo, Senate Judiciary Committee Chairman Patrick Leahy, D-Vt., left, confers with Sen. Chuck Schumer, D-N.Y., center, and Sen. Dianne Feinstein, D-Calif., as the Senate Judiciary Committee assembled to work on a landmark immigration bill to secure the border and offer citizenship to millions, on Capitol Hill in Washington. Leading senators working on immigration legislation reached a compromise Tuesday on the details of an expanded high-tech visa program, officials said as the Senate Judiciary Committee neared completion of its work on the measure. At the same time, several officials said the White House has made it known to Leahy that it would prefer postponing a showdown over the rights of same sex spouses until a vote in the full Senate. (AP Photo/J. Scott Applewhite, File) WASHINGTON (AP) — A far-reaching bill to remake the nation's immigration system is headed to the full Senate, where tough battles are brewing on gay marriage, border security and other contentious issues, with the outcome impossible to predict.


Fishermen pay price in Asia's volatile sea rifts

In this May 7, 2013 photo, a Filipino fishermen carries a load of fish from a boat in the coastal town of Infanta, Pangasinan province, northwestern Philippines. Since China took control of the Scarborough Shoal last year, which Beijing calls Huangyan Island, Filipino fishermen say Chinese maritime surveillance ships have shooed them from the disputed waters in the South China Sea and roped off the entrance to the vast lagoon that had been their fishing paradise for decades. Now, they say, they can't even count on the Chinese to give them shelter there from a potentially deadly storm. (AP Photo/Aaron Favila) MASINLOC, Philippines (AP) — Along the northwestern Philippine coast, poor children with claw hammers clamber aboard an abandoned fishing vessel to pry loose and steal rusty nails from its deck. It's become a familiar sight in villages where some fishermen have been forced to give up their livelihoods since China took control of their fishing haven last year.


Officials say Benghazi suspects under surveillance

FILE - This Sept. 13, 2012 file photo shows a cameraman filming one of U.S. consulate burnt out offices after an attack that killed four Americans, including Ambassador Chris Stevens on the night of Tuesday, Sept. 11, 2012, in Benghazi, Libya. The U.S. has identified five men they believe might be behind the attack on the diplomatic mission in Benghazi, Libya, last year, and have enough evidence to justify seizing them by military force as suspected terrorists _ but not enough proof to try them in a U.S. civilian criminal court, the process the Obama administration prefers, U.S. officials said. (AP photo/Mohammad Hannon, File) WASHINGTON (AP) — Five men are under round-the-clock U.S. surveillance in Libya, wanted for questioning in the attack last year on the diplomatic mission in Benghazi, Libya. The White House believes there is enough proof for a military force to seize them as terrorist suspects, officials say, but prefers to wait until investigators have enough evidence to try them in a U.S. civilian courtroom.


Pentagon wants $450M for Guantanamo prison

FILE – In this March 30, 2010, file photo reviewed by the U.S. military, a U.S. trooper stands in the turret of a vehicle with a machine gun, left, as a guard looks out from a tower at the detention facility of Guantanamo Bay U.S. Naval Base in Cuba. The Pentagon is asking Congress for more than $450 million for maintaining and upgrading the Guantanamo Bay prison that President Barack Obama wants to close. (AP Photo/Brennan Linsley, File) WASHINGTON (AP) — The Pentagon is asking Congress for more than $450 million for maintaining and upgrading the Guantanamo Bay prison that President Barack Obama wants to close.


World Bank pledges $1 billion to aid peace in Africa's Great Lakes

Kim President of the World Bank Group answers a reporter's question during an interview with Reuters aside of the 66th World Health Assembly at the United Nations in Geneva KINSHASA (Reuters) - The World Bank on Wednesday announced $1 billion in development funding for Africa's Great Lakes region, where renewed fighting this week between the government and rebels in eastern Congo has raised fears once again of an escalation in conflict. World Bank President Jim Yong Kim unveiled the proposed aid financing for one of Africa's most intractable conflict regions on the first day of a trip with U.N. chief Ban Ki-moon to Democratic Republic of Congo, Rwanda and Uganda. ...


Iran's Ahmadinejad says will challenge ally's ban from election

DUBAI (Reuters) - Iranian President Mahmoud Ahmadinejad said on Wednesday he would take up the ban of his close aide from the June 14 presidential election with Supreme Leader Ayatollah Ali Khamenei, Iranian media reported. Iran's electoral watchdog on Tuesday disqualified Esfandiar Rahim Mashaie, Ahmadinejad's former chief of staff, and moderate ex-president Akbar Hashemi Rafsanjani from running in the vote, eliminating two powerful and potentially disruptive candidates and leaving the field dominated by hardliners loyal to Khamenei. "I introduced Mr. ...

Kerry pushes $2.1 billion Raytheon deal in Oman

U.S. Secretary of State John Kerry, left, meets with Oman's Sultan Qaboos bin Said at Bait Al Baraka in Muscat, Oman, Tuesday, May 21, 2013. (AP Photo?Jim Young,Pool) MUSCAT, Oman (AP) — U.S. Secretary of State John Kerry is talking with officials in Oman about their plans to buy a $2.1 billion air defense system from American manufacturer Raytheon.


Freeport reviewing safety at Indonesia mine after tunnel collapse

JAKARTA (Reuters) - Freeport McMoRan Copper & Gold Inc is reviewing the safety of its underground operations at its Indonesian mine in Papua after a tunnel collapse last week that killed 28 people, the company's chief executive said on Wednesday. Freeport closed the remote Papua mine on Wednesday last week, a day after a training tunnel away from its main operations fell in on 38 workers. Ten of the workers were rescued. All have now been accounted for, and a search is continuing to retrieve the bodies of seven of the dead workers. Operations at the mine have been suspended. ...

Iran bars candidates for presidential election

Former President Rafsanjani casts his ballot in a parliamentary election in Tehran By Marcus George DUBAI (Reuters) - Iranian authorities barred two potentially powerful and disruptive candidates from running in next month's presidential election on Tuesday, ensuring a contest largely among hardliners loyal to the clerical supreme leader. Akbar Hashemi Rafsanjani, a veteran companion of the Islamic Republic's founder, a former president and thought potentially sympathetic to reform, was denied a place on the ballot by the Guardian Council of clerics and jurists, state media said. ...


Young objector challenges Israeli army

Left wing activists hold signs during a protest calling for the release of Israeli conscientious objector Natan Blanc from military prison, in front of the ministry of defense office in Tel Aviv, Tuesday, May 21, 2013. The Israeli military has jailed Blanc for six months because of his opposition to Israel’s occupation of the West Bank, in one of the most protracted cases by a conscientious objector in years. The refusal by 20-year-old Natan Blanc to serve in the military has shined a light on Israeli policies toward the Palestinians. It has also put the military in a delicate position as it tries to resolve the case, since releasing him could set an unwanted precedent while keeping him jailed could turn into a public relations debacle. Hebrew on signs read: "Natan Blanc political prisoner." (AP Photo/Oded Balilty) JERUSALEM (AP) — The Israeli military has jailed a young man for six months for refusing to serve because of his opposition to Israel's occupation of the West Bank, focusing attention on the longstanding conflict between the country's universal military service and divided political beliefs.


Egypt: 7 security men kidnapped in Sinai freed

Egyptian Army soldiers patrol in an armored vehicle backed by a helicopter gunship during a sweep through villages in in Sheikh Zuweyid, northern Sinai, Egypt, Tuesday, May 21, 2013. Egypt's government has built up security forces in northern Sinai as part of an effort to secure the release of six policemen and a border guard kidnapped last week by suspected militants. (AP Photo) CAIRO (AP) — Six Egyptian policemen and a border guard kidnapped by suspected militants in the Sinai Peninsula last week were freed by their captors Wednesday after successful mediation in the volatile region, the country's military spokesman said.


Insight: No more easy pickings in Russia's banking market

Pedestrians walk past a Raiffeisen Bank branch in Moscow By Megan Davies MOSCOW (Reuters) - Foreign banks that once treated Russia as virgin land where easy money could be made are now finding it a cut-throat market tougher than some bargained for. While players such as Citi and Austria's Raiffeisen thrive, many have found post-Soviet Russia too hard to crack: rife with credit, legal and corruption risks, and dominated by state giants Sberbank and VTB. The latest to hit trouble has been France's Societe Generale. ...


Insight: No more easy pickings in Russia's banking market

Pedestrians walk past a Raiffeisen Bank branch in Moscow By Megan Davies MOSCOW (Reuters) - Foreign banks that once treated Russia as virgin land where easy money could be made are now finding it a cut-throat market tougher than some bargained for. While players such as Citi and Austria's Raiffeisen thrive, many have found post-Soviet Russia too hard to crack: rife with credit, legal and corruption risks, and dominated by state giants Sberbank and VTB. The latest to hit trouble has been France's Societe Generale. ...


Japan's central bank says economy picking up

FILE - In this April 30, 2013 file photo, automobiles for export and import park at a port in Kawasaki, south of Tokyo. Japan's trade deficit widened to a larger-than-expected 879.9 billion yen ($8.6 billion) in April as its weakening currency accentuated surging import costs. Exports rose 3.8 percent from the same month a year earlier to 5.78 trillion yen ($56.3 billion), while imports jumped 9.4 percent to 6.66 trillion yen ($64.9 billion), according to preliminary figures reported by the Finance Ministry on Wednesday, May 22, 2013. (AP Photo/Itsuo Inouye, File) TOKYO (AP) — Japan's central bank says the world's third-biggest economy is "picking up" as demand recovers in other countries and remains resilient at home, though the trade deficit widened in April, for the tenth straight month.


Merck signs $5 billion share buyback agreement with Goldman Sachs

A view of the Merck & Co. campus in Linden, New Jersey (Reuters) - Merck & Co Inc said it has entered into a $5 billion share repurchase agreement with Goldman Sachs Group Inc, as the drug giant looks to prop up shareholder value in face of stiff competition from makers of less-costly generics. Under the accelerated share repurchase agreement (ASR), Merck has agreed to repurchase about 99.5 million shares from Goldman Sachs based on current market prices. ...


Oil falls below $96 before Fed chief speaks

BANGKOK (AP) — The price of oil fell Wednesday as investors waited for a report on U.S. crude stocks and the Federal Reserve's latest views on the U.S. economy.

Asia stocks rise as Fed official backs easy policy

A visitor takes a picture of an electronic stock board on the Tokyo Stock Exchange in Tokyo, Wednesday, May 22, 2013. Asian stock markets were mostly higher Wednesday after investor confidence was boosted by a Federal Reserve official's comments that the U.S. central bank should stick with its super-easy monetary policy. (AP Photo/Itsuo Inouye) BANGKOK (AP) — Asian stock markets were mostly higher Wednesday after investor confidence was boosted by a Federal Reserve official's comments that the U.S. central bank should stick with its super-easy monetary policy.


North Korea sends leader's special envoy to China

High-ranking North Korean party and military official Choe Ryong Hae, second left, prepares to depart for China as a special envoy of North Korean leader Kim Jong Un, at Pyongyang airport, North Korea Wednesday, May 22, 2013. The trip by Choe, a vice marshal who is director of the General Political Bureau of the Korean People's Army, is the highest-profile visit by a North Korean official to neighboring China this year and takes place at as Beijing is under pressure to rein in Pyongyang’s provocations. (AP Photo/ Kim Kwang Hyon) PYONGYANG, North Korea (AP) — North Korean leader Kim Jong Un dispatched a high-profile official and close confidant to China on Wednesday as Beijing faces pressure to rein in its belligerent neighbor.


North Korea sends top Kim Jong-un aide to Beijing

The Inter-Korean Kaesong Industrial Complex (KIC) inside the North Korean border, is seen from an South Korean observation post near the truce village of Panmunjom in Paju By Ju-min Park and Ben Blanchard SEOUL/BEIJING (Reuters) - North Korea sent one of its top military officials as a "special envoy" from its leader Kim Jong-un to Beijing on Wednesday, accompanied by a high-powered delegation in what appeared to be a bid to mend frayed relations with its most important ally. The delegation led by Choe Ryong-hae, vice chairman of the country's top military body, was the most senior to visit China since Kim's kingmaker uncle Jang Song-thaek made the trip in August 2012. ...


US auto factories cutting back on summer downtime

DETROIT (AP) — Detroit auto factories are forgoing their traditional two-week summer break and speeding up production to meet buyers' growing demand for new cars and trucks.

BOJ holds steady despite bond turmoil, upgrades economic outlook

The Bank of Japan building is pictured in Tokyo By Stanley White and Leika Kihara TOKYO (Reuters) - The Bank of Japan kept policy steady on Wednesday despite concerns over recent volatility in bond market, saying growth is starting to pick up even as risks loomed from an uncertain global outlook. The central bank upgraded its assessment of the economy, saying it "has started picking up," as Prime Minister Shinzo Abe's program of aggressive fiscal and monetary stimulus has boosted sentiment and a weaker yen has halted a decline in exports. ...


Prosecutors consider using racketeering law against SAC: source

Exterior of Headquarters of SAC Capital Advisors, L.P. in Stamford By Emily Flitter NEW YORK (Reuters) - Prosecutors are considering charging Steven A. Cohen's SAC Capital Advisors as a criminal enterprise engaged in a long pattern of insider trading in stocks, according to a person familiar with the matter. Prosecutors may use the Racketeer Influenced and Corrupt Organizations Act, most commonly associated with prosecutions against the mafia, to move against Cohen's $15 billion hedge fund company, said the person, who spoke on condition of anonymity. While this is one option under consideration, no final decision has been made, the source added. ...


Apple case seen as possible spur to tax action

Apple CEO Tim Cook testifies on Capitol Hill in Washington, Tuesday, May 21, 2013, before the Senate Homeland Security and Governmental Affairs Permanent subcommittee on Investigations as lawmakers examine the methods employed by multinational corporations to shift profits offshore and how such activities are affected by the Internal Revenue Code. Lawmakers want to know the tax strategy of how Apple, the world's most valuable company, based in Cupertino, Calif., holds a billion dollars in an Irish subsidiary as a tax strategy, according to a report issued this week by the subcommittee. (AP Photo/J. Scott Applewhite) WASHINGTON (AP) — Now that tech darling Apple Inc. has been dragged front and center into the debate over the U.S. tax code, lawmakers are hoping that the spotlight on such a high-profile company could be the catalyst for Congress to take action to close loopholes or reform the law.


Bernanke testimony to be studied for policy clues

FILE - In this May 10, 2013 file photo, Federal Reserve Chairman Ben Bernanke waves goodbye after speaking during a banking conference in Chicago. When Bernanke testifies about the U.S. economy Wednesday, May 22, 2013, the Federal Reserve chairman’s words will be examined for any clues that the Fed might soon taper _ or increase _ its support for the economy. (AP Photo/Paul Beaty, File) WASHINGTON (AP) — When Ben Bernanke testifies about the U.S. economy Wednesday, the Federal Reserve chairman's words will be examined for any clues that the Fed might soon taper — or increase — its support for the economy.


Japan considers resuming talks with North Korea: media

Screen grab of Japanese Cabinet Secretariat Advisor Isao Iijima arriving at Pyongyang airport TOKYO (Reuters) - Japan has started looking into resuming inter-governmental talks with North Korea after a surprise visit to Pyongyang by an aide to Japan's prime minister, the Asahi Shimbun and other newspapers said on Wednesday. Such talks, intended to discuss North Korea's abduction of Japanese citizens decades ago and other issues, were last held in November 2012, but have been halted due to the North's missile launch in December and nuclear test in February. ...


The Irish loophole behind Apple's low tax bill

The Apple logo hangs in a glass enclosure above the 5th Ave Apple Store in New York By Tom Bergin LONDON (Reuters) - Apple's ability to shelter billions of dollars of income from tax has depended on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs. A U.S. Senate investigation revealed Tuesday that Apple, maker of iPhones, iPads and Mac computers, channeled profits into Irish-incorporated subsidiaries that had "no declared tax residency anywhere in the world. ...


Who's to blame for murky regulation in IRS scandal: Agency or lawmakers?

The IRS should move unilaterally to fix the law sitting at the root of the agency’s targeting of conservative groups, according to Senate Democrats who grilled the agency’s two most recent chiefs at a Senate Finance Committee hearing on Tuesday.

Exclusive: Bob Lutz, Chinese in bid to buy Fisker Automotive - sources

The logo of an extended rage electric vehicle Fisker Karma is seen at the start of an electric car rally in Tallinn By Deepa Seetharaman DETROIT (Reuters) - A boutique carmaker led by former General Motors Co executive Bob Lutz and China's largest auto parts supplier made an offer this month to buy cash-strapped "green" car company Fisker Automotive, people familiar with the matter said. VL Automotive and China's Wanxiang Group are looking to gain control of Fisker through a prepackaged bankruptcy. This comes alongside a separate push by investors in Europe and Hong Kong, including billionaire Richard Li, to buy out the U.S. Department of Energy's position in Fisker. ...


Tornado Warning: Despite Oklahoma Alert, U.S. Weather Forecasting Service Needs Major Upgrades

The atmosphere never gets a moment’s privacy. It can barely stir enough to move a leaf without some piece of high-tech equipment—often many, many pieces—knowing about it. The U.S. alone has up to 30 satellites at any one moment that devote at least part of their time to monitoring global and national weather patterns; 122 Doppler radar systems scattered across the country looking up from the ground; and a web of computers that just got a massive upgrade—increasing their data-crunching capacity 30-fold—to process the information that all that other hardware gathers.

Oklahoma tornado was a monster, but it wasn't a record-breaker

The National Weather Service has rated the tornado that struck Moore, Okla., Monday afternoon as an EF5, the highest rating with wind speeds estimated at more than 200 miles an hour.
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