News Archive - 29 August 2015

>"With regards to our defensive capability, we did not and will not accept any limitations," Rouhani said at a press conference carried on live television."We will do whatever we need to do to defend our country, whether with missiles or other methods."Last week, Iran unveiled a new surface-to-surface...

>Christie, who is well back in the pack seeking the Republican nomination for president, told a campaign event in the early voting state of New Hampshire that he would ask FedEx Chief Executive Officer Fred Smith to devise the tracking system.Immigration has become a top issue in the Republican...

>BEIRUT Thousands of protesters waving Lebanese flags and chanting "revolution" took to the streets of Beirut on Saturday for an unprecedented mobilization against sectarian politicians they say are incompetent and corrupt.The "You Stink" protest campaign, ignited by a waste crisis, has widened to reflect anger at widely-perceived graft in...

>JACKSON HOLE, Wyo. Bank of England Governor Mark Carney said on Saturday that a slowdown in China's economy could push down further on inflation but it did not change, for now, the central bank's position on when and how it might increase interest rates.Carney, speaking at an annual U.

>Syngenta's board is under pressure from shareholders to show how it plans to generate value after turning its back on Monsanto's $47 billion cash-and-share offer, which it said undervalued the company and had too great an execution risk.In an interview with Finanz und Wirtschaft, Michel Demare said it was...

>WASHINGTON President Barack Obama on Saturday defended his decision to allow Royal Dutch Shell to drill for oil in the Arctic Ocean under what he said were rigorous standards, fending off criticism by environmental groups.His message comes on the eve of a three-day tour of Alaska aimed at drawing...

>The IMF has yet to make clear if it will participate in the third 86-billion-euro ($96 billion) international bailout that Greece signed up to in early August, having argued in favor of a partial writedown of a debt burden it considers unsustainable in its current form.Greece's euro zone creditors,...

>On Saturday a Yellen ally and former adviser at the Fed delivered a provocative retort: the economic models underpinning those simple rules don't work that well, and the best policy decisions come when central bankers look beyond those models to the unexpected forces shaping the economy.Former Fed Chair Alan...

>JACKSON HOLE, Wyo. U.S. inflation will likely rebound as pressure from the dollar fades, allowing the Federal Reserve to raise interest rates gradually, Fed Vice Chairman Stanley Fischer said on Saturday in a speech careful not to overreact to a possible Chinese slowdown.The influential U.S. central banker...

>Boston Fed President Eric Rosengren and Minneapolis Fed President Narayana Kocherlakota recently have floated raising the U.S. central bank's current 2 percent inflation target to give it more room to cut rates during economic downturns.The idea has not gained much traction in part because the Fed does not...

>Warren Buffett's Berkshire Hathaway Inc (BRKa.N) disclosed a $4.48 billion stake in oil refiner Phillips 66 (PSX.N), rebuilding a bet it had made in the energy industry before oil prices fell.The 57.98 million-share, or roughly 10.8 percent, stake was revealed in a Friday night...

>KUALA LUMPUR Thousands of protesters gathered in Kuala Lumpur on Saturday for a rally to demand the resignation of Prime Minister Najib Razak, bringing to the streets a political crisis over a murky multi-million-dollar payment made to an account under his name.The Malaysian leader has weathered weeks of attacks...

>Police raided an apartment used by the man in northern Bangkok on Saturday and discovered possible bomb-making materials, national police spokesman Prawut Thavornsiri said.The suspect "looks like the one we are looking for", he said. "They also found a lot of materials which can be used to make bombs," Prawut...

>CAIRO An Egyptian court sentenced three Al Jazeera TV journalists to three years in prison on Saturday for operating without a press license and broadcasting material harmful to Egypt, a case that has stirred an international outcry.The verdict, in a retrial, was issued against Mohamed Fahmy, a naturalised Canadian...

>State news agency Xinhua quoted an unnamed Commerce Ministry spokesman as saying the devaluation will have "limited impact" on the country's foreign trade.On Aug. 11, in a move that stunned markets, China devalued the yuan CNY=CFXS by nearly 2 percent.The devaluation was meant to correct a "relatively large...

>TORONTO The owner of adultery website Ashley Madison had already been struggling to sell itself or raise funds for at least three years before the publication of details about its members, according to internal documents and emails also released by hackers as part of their assault on the company in recent...