News Archive - 28 March 2016

>BEIRUT Syrian government forces backed by Russian air strikes battled Islamic State insurgents around Palmyra on Monday, trying to extend their gains after taking back control of a city whose ancient temples were dynamited by the ultra-radical militants.The loss of Palmyra on Sunday is one of the biggest setbacks...

>DUBAI Iran will pursue its development of ballistic missiles despite the U.S. blacklisting of more Iranian companies linked to the program, a senior Revolutionary Guards commander said on Monday.The Islamic Revolutionary Guards Corps (IRGC) test-fired several ballistic missiles this month, drawing condemnation from Western leaders who believe the...

>The median estimate from a Reuters poll of economists was for 3.2 percent, matching the rate in January.The jobs-applicants ratio was 1.28 in February, unchanged from the previous month, which was the highest in 24 years, separate data by the labor ministry showed. The median estimate was...

>WASHINGTON President Barack Obama on Monday laid some of the blame for the tone of the presidential campaign on political journalism that has been pinched by shrinking newsroom budgets and cheapened by a focus on retweets and likes on social media.In a speech to a journalism awards dinner, Obama...

>Yahoo asked bidders details regarding financing, conditions or approvals that would have to be met on their end, and what key assumptions they would be making by deciding to move forward with a deal, the Journal said, citing a letter sent to possible bidders. (on.wsj.com/1VQGCDh)A deadline for preliminary...

>BRUSSELS Manneken Pis, the cherubic little statue insouciantly relieving himself in the heart of Brussels, has become a cheeky symbol of Belgian resistance to terror in the week since suicide bombers struck the capital.But for all the defiance and outpouring of affection at home and abroad for Belgians' quirky,...

>SAN FRANCISCO The U.S. Justice Department said it successfully accessed data stored on an encrypted iPhone used by one of the San Bernardino shooters and asked a court to withdraw an order compelling Apple to assist, according to a court filing on Monday.The technology company fought a court...

>Asian airline companies have also expressed interest in Virgin America, although they would have to partner with a U.S. bidder because of foreign ownership rules governing U.S. airlines, the person said.Bloomberg reported earlier on Monday that Virgin America had received takeover offers from JetBlue and Alaska Air.

>SACRAMENTO California Governor Jerry Brown announced a deal with legislators and labor leaders on Monday to raise the minimum wage to $15 an hour by 2023, saying the nation's most-populous state would lead the way toward higher pay for the working poor. The proposal, which still must win approval from...

>MedStar Health, one of the biggest medical providers in the Washington, D.C., area, said on Monday it shut down some computer systems after discovering a computer virus."Networks temporarily shut down to prevent virus spread," MedStar, the operator of 10 hospitals in Washington and Maryland, said on Twitter.

>NEW YORK Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, said on Monday that an interest-rate increase by the Federal Reserve in April is "inconceivable," given lower forecasts for first-quarter GDP growth.The Federal Reserve Bank of Atlanta's GDPNow model on Monday predicted growth at a 0.6...

>The earliest investors in Oculus's fundraising campaign on crowdfunding website Kickstarter in 2012 started receiving their Rift headsets from Monday.The first of the pre-orders will start shipping from mid-week, Oculus said. (ocul.us/1URqQIL) The company, founded in 2012, launched a campaign on Kickstarter to raise $250,000. A couple of...

>The FBI is asking businesses and software security experts for emergency assistance in its investigation into a pernicious new type of "ransomware" virus used by hackers for extortion."We need your help!" the Federal Bureau of Investigation said in a confidential "Flash" advisory that was dated March 25 and...

>The transaction was on the list of deals that the FTC and Justice Department granted "early termination," essentially quick antitrust approval.The Detroit automaker hasn't disclosed the purchase price, but the deal has been reported to be worth more than $1 billion in cash and stock. GM said earlier this...

>NEW YORK There is nothing bland about betting on McCormick.The Maryland spice maker is preparing to report slowing first quarter earnings with its share price as high and expensive as it has ever been. Yet investors expect the company to hold its own on Wall Street, partly because of...

>WASHINGTON The U.S. Supreme Court on Monday rejected former Illinois Governor Rod Blagojevich’s appeal of convictions for attempted extortion from campaign contributors, wire fraud and other crimes.The court left in place a July 2015 ruling by the 7th U.S. Circuit Court of Appeals, which upheld the bulk...

>ATLANTA Georgia Governor Nathan Deal said on Monday he will veto a religious freedom bill passed by the state legislature that has drawn national criticism for discriminating against same-sex couples.The bill, which states that no pastor can be forced to perform a same-sex wedding, was recently passed by the...

>In a speech in Wisconsin, the former secretary of state plans to hold up the opening in the Supreme Court as further cause for concern should Trump win the U.S. presidency in the Nov. 8 election, according to her campaign. A Supreme Court justice nominated by Trump would curb...

>The company's shares fell 7.9 percent to $10.07 in early trading on Monday.The company also appointed independent board member Jim Feuille as its new chairman.Westergren, who co-founded the service in 2000, also served as company's chief executive and president earlier from May 2002 to July 2004.

>The National Association of Realtors said its pending home sales index rose 3.5 percent to 109.1 last month, the highest level in seven months. January's reading was revised to show a 3.0 percent decline, which was deeper than initially reported.Economists polled by Reuters had forecast contracts...

>The nominee would have to be jointly selected by Avon and its top investor, Cerberus Capital Management, to whom Avon sold a majority of its North America business earlier this month."We are pleased to have reached this settlement agreement with Barington, which allows us to avoid a potential proxy...

>Anbang's new acquisition offer, the details of which could not be immediately learned, will be disclosed later on Monday, the people said, asking not to be identified because the latest bid has not been officially announced. Anbang, Starwood and Marriott representatives did not immediately respond to requests for comment. (Reporting...

>WASHINGTON U.S. consumer spending rose marginally in February and overall inflation retreated, suggesting the Federal Reserve could take its time in raising interest rates this year despite a tightening labor market. The Commerce Department said on Monday that consumer spending edged up 0.1 percent as households cut back...

>U.S. stock indexes were set to open slightly higher on Monday after data showed consumers spent more in February, the latest sign that an economic recovery was gathering steam.A stream of recent encouraging data, including Friday's fourth-quarter U.S. GDP numbers, could embolden the Federal Reserve to raise...

>The announcement comes after TSMC said in December it planned to set up its first wholly owned advanced fabrication plant in China with a $3 billion investment, highlighting the growing importance of the Chinese market for semiconductor giants."With our 12-inch fab and our design service center in Nanjing, we...

>In a statement on Monday, the federal prosecutors named the three charged as Yassine A., Mohamed B. and Aboubaker O., adding they could not give further information about them at this stage.They also said they had released without charge a fourth man they had been questioning. On...

>BEIJING China's Big Four state-run banks this week are set to report annual earnings growth that likely flat-lined after around a decade of terrific profitability, as a surge in soured loans continued unabated while economic expansion weakened.Profit growth has slowed in recent years while the sector tackles its greatest...