Reuters: Top News

Greece must back bailout or face catastrophe: Papademos

Fri, 10 Feb 2012 15:34:13 -0500

ATHENS (Reuters) - Greek Prime Minister Lucas Papademos told his turbulent coalition government on Friday to accept a harsh international bailout deal or condemn the nation to catastrophe.

Obama shift seeks to defuse birth-control fight

Fri, 10 Feb 2012 16:45:00 -0500

(Reuters) - President Barack Obama, in an abrupt policy shift aimed at quelling an election-year firestorm, announced on Friday that religious employers would not be required to offer free birth control to workers and the onus would instead be put on insurers.

Obama budget to forecast $901 billion deficit in 2013

Fri, 10 Feb 2012 14:54:29 -0500

WASHINGTON (Reuters) - President Barack Obama will project a $901 billion deficit for fiscal 2013 in his upcoming budget proposal, a sharp drop from the funding gap this year, a White House official said on Friday.

Bombings, bombardments kill across Syria

Fri, 10 Feb 2012 17:04:12 -0500

AMMAN/BEIRUT (Reuters) - Bomb attacks killed at least 28 people in Syria's second city Aleppo on Friday, while Homs endured another day of shelling and a firefight broke out in Damascus, the nearest violence to the centre of the capital in an 11-month uprising.

Anxiety over incomes hits consumer morale

Fri, 10 Feb 2012 14:10:09 -0500

WASHINGTON (Reuters) - Americans felt worse about their personal finances in early February, but rising confidence in the labor market's prospects should help to support spending and the broader economy.

Bernanke urges action to heal housing markets

Fri, 10 Feb 2012 15:45:42 -0500

ORLANDO, Florida (Reuters) - Federal Reserve Chairman Ben Bernanke on Friday issued a call to action to restore U.S. housing markets, saying depressed house prices and sales are a serious drag on the economic recovery.

U.S. banks agree to $25 billion in homeowner help

Fri, 10 Feb 2012 09:30:10 -0500

WASHINGTON (Reuters) - Five big U.S. banks accused of abusive mortgage practices have agreed to a $25 billion government settlement that may help roughly one million borrowers but is no magic bullet for the ailing housing market.

Asia giants join Iran diplomacy as sanctions hurt trade

Fri, 10 Feb 2012 09:44:02 -0500

BEIJING/HAMBURG (Reuters) - China said on Friday it would send a senior official to Tehran to discuss Iran's nuclear standoff with the West, and India indicated it would also weigh in, as Asia's two giants seek to head off new sanctions already playing havoc with trade.

U.S. OKs trade probes on some imports from South Korea, China

Fri, 10 Feb 2012 14:24:39 -0500

WASHINGTON (Reuters) - A U.S. trade panel on Friday approved investigations that could lead to steep import duties on more than $1 billion of washing machines from South Korea and Mexico and more than $150 million of wind energy towers from China and Vietnam.

Hedge fund manager charged with insider trading

Fri, 10 Feb 2012 15:39:29 -0500

NEW YORK (Reuters) - A California hedge fund manager was charged on Friday with making $900,000 illegally on inside information about three technology companies, the latest strand of the high-profile Galleon Group prosecutions against money managers and traders.