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    • An illustration picture shows the logo of the U.S. National Security Agency on the display of an iPhone in Berlin
      Web companies begin releasing surveillance information after U.S. deal

      By Joseph Menn and Gerry Shih SAN FRANCISCO (Reuters) - Facebook and Microsoft have struck agreements with the U.S. government to release limited information about the number of surveillance requests they … More »Web companies begin releasing surveillance information after U.S. deal

      An illustration picture shows the logo of the U.S. National Security Agency on the display of an iPhone in Berlin

      By Joseph Menn and Gerry Shih SAN FRANCISCO (Reuters) - Facebook and Microsoft have struck agreements with the U.S. government to release limited information about the number of surveillance requests they receive, a modest victory for the companies as they struggle with the fallout from disclosures about a secret government …

    • The logo of the Bank of America is pictured atop the Bank of America building in downtown Los Angeles
      Former Bank of America workers allege it lied to home owners

      By Michelle Conlin and Peter Rudegeair (Reuters) - Six former Bank of America Corp employees have alleged that the bank deliberately denied eligible home owners loan modifications and lied to them about … More »Former Bank of America workers allege it lied to home owners

      The logo of the Bank of America is pictured atop the Bank of America building in downtown Los Angeles

      By Michelle Conlin and Peter Rudegeair (Reuters) - Six former Bank of America Corp employees have alleged that the bank deliberately denied eligible home owners loan modifications and lied to them about the status of their mortgage payments and documents. The bank allegedly used these tactics to shepherd homeowners into …

    • Detroit's emergency financial manager Kevyn Orr talks to members of the media about the report he delivered to the State of Michigan about Detroit's finances, in Detroit
      Detroit to stop paying some debt, putting it in default

      By Bernie Woodall and Steve Neavling DETROIT (Reuters) - Detroit said on Friday it would stop making payments on some of its about $18.5 billion debt, which would put it in default, and the "insolvent" … More »Detroit to stop paying some debt, putting it in default

      Detroit's emergency financial manager Kevyn Orr talks to members of the media about the report he delivered to the State of Michigan about Detroit's finances, in Detroit

      By Bernie Woodall and Steve Neavling DETROIT (Reuters) - Detroit said on Friday it would stop making payments on some of its about $18.5 billion debt, which would put it in default, and the "insolvent" city called on most of its creditors to accept pennies on the dollar to help it avoid the largest municipal bankruptcy …

    • An illustration picture shows a woman looking at the Facebook website on a computer in Munich
      Facebook got 9,000-10,000 government data requests in second half 2012

      SAN FRANCISCO (Reuters) - Facebook Inc received between 9,000 and 10,000 requests for user data from various U.S. government entities in 2012's second half, involving 18,000 to 19,000 of its users' accounts, … More »Facebook got 9,000-10,000 government data requests in second half 2012

      An illustration picture shows a woman looking at the Facebook website on a computer in Munich

      SAN FRANCISCO (Reuters) - Facebook Inc received between 9,000 and 10,000 requests for user data from various U.S. government entities in 2012's second half, involving 18,000 to 19,000 of its users' accounts, the world's largest social network said in a Friday blogpost. The company said it released the information after …

    • A Wal-Mart Stores Inc company distribution center in Bentonville
      Wal-Mart taps Cash as new presiding director, replacing Breyer

      (Reuters) - Wal-Mart Stores Inc said on Saturday that its board has appointed James Cash Jr. as lead independent director. Cash, who joined Wal-Mart's board in 2006, replaces James Breyer, who served on … More »Wal-Mart taps Cash as new presiding director, replacing Breyer

      A Wal-Mart Stores Inc company distribution center in Bentonville

      (Reuters) - Wal-Mart Stores Inc said on Saturday that its board has appointed James Cash Jr. as lead independent director. Cash, who joined Wal-Mart's board in 2006, replaces James Breyer, who served on the board for more than a decade, but was prevented from running again this year under the company's rules of corporate …

    • A customer shops for clothing at a Tesco shop in Bishop's Stortford, southern England
      Tesco stops sourcing from a Bangladesh factory due to safety concerns

      LONDON/DHAKA (Reuters) - Tesco, the world's No. 3 retailer, has stopped sourcing clothes from a factory in Bangladesh after discovering serious problems with the safety of the site, the company said on … More »Tesco stops sourcing from a Bangladesh factory due to safety concerns

      A customer shops for clothing at a Tesco shop in Bishop's Stortford, southern England

      LONDON/DHAKA (Reuters) - Tesco, the world's No. 3 retailer, has stopped sourcing clothes from a factory in Bangladesh after discovering serious problems with the safety of the site, the company said on Saturday. The move follows a survey the British-based supermarket chain conducted in the wake of the collapse of the Rana …

    • Pedestrians are reflected in a window as they walk in front of the headquarters of Deutsche Bank AG in Frankfurt
      Exclusive: Deutsche Bank 'horribly undercapitalized' - U.S. regulator

      By Emily Stephenson and Douwe Miedema WASHINGTON (Reuters) - A top U.S. banking regulator called Deutsche Bank's capital levels "horrible" and said it is the worst on a list of global banks based on one … More »Exclusive: Deutsche Bank 'horribly undercapitalized' - U.S. regulator

      Pedestrians are reflected in a window as they walk in front of the headquarters of Deutsche Bank AG in Frankfurt

      By Emily Stephenson and Douwe Miedema WASHINGTON (Reuters) - A top U.S. banking regulator called Deutsche Bank's capital levels "horrible" and said it is the worst on a list of global banks based on one measurement of leverage ratios. "It's horrible, I mean they're horribly undercapitalized," said Federal Deposit Insurance …

    • Traders work on the floor at the New York Stock Exchange
      Wall St. slides in volatile week, eyes on the Fed

      By Rodrigo Campos NEW YORK (Reuters) - Stocks fell on Friday on low volume to end their third negative week in four on lingering concern over whether the world's central banks will soon start to trim their … More »Wall St. slides in volatile week, eyes on the Fed

      Traders work on the floor at the New York Stock Exchange

      By Rodrigo Campos NEW YORK (Reuters) - Stocks fell on Friday on low volume to end their third negative week in four on lingering concern over whether the world's central banks will soon start to trim their stimulus programs. Uncertainty about the longevity of loose monetary policy around the world has caused volatility …

    • The Wall Street sign is seen outside the New York Stock Exchange
      Wall St. Week Ahead: Investors will look to Fed to ease volatility

      By Caroline Valetkevitch NEW YORK (Reuters) - Stock investors eager to hear from the Federal Reserve about its plans for continuing economic stimulus may get some soothing words from the U.S. central bank … More »Wall St. Week Ahead: Investors will look to Fed to ease volatility

      The Wall Street sign is seen outside the New York Stock Exchange

      By Caroline Valetkevitch NEW YORK (Reuters) - Stock investors eager to hear from the Federal Reserve about its plans for continuing economic stimulus may get some soothing words from the U.S. central bank next week. The Fed is unlikely to tip its hand about when it may begin to scale back its bond-buying program, but policymakers …

    • Visitors watch a film as they attend the opening night of a drive-in cinema at the Grand Palais in Paris
      France backs EU-U.S. trade talks after culture clash

      By Philip Blenkinsop and Robin Emmott LUXEMBOURG (Reuters) - France cleared the European Union to launch free-trade talks with the United States on Friday after fellow EU members accepted its demand to … More »France backs EU-U.S. trade talks after culture clash

      Visitors watch a film as they attend the opening night of a drive-in cinema at the Grand Palais in Paris

      By Philip Blenkinsop and Robin Emmott LUXEMBOURG (Reuters) - France cleared the European Union to launch free-trade talks with the United States on Friday after fellow EU members accepted its demand to shield movies and online entertainment from the might of Hollywood and Silicon Valley. After 12 hours of talks, EU officials …

    • A pedestrian holding an umbrella walks past the Bank of Japan building in Tokyo
      BOJ's REITs purchase to exceed previous estimate: paper

      TOKYO (Reuters) - The Bank of Japan will likely expand its purchase of Japanese real estate investment trusts (J-REITs) beyond its buying scheme announced earlier this year as part of the central bank's … More »BOJ's REITs purchase to exceed previous estimate: paper

      A pedestrian holding an umbrella walks past the Bank of Japan building in Tokyo

      TOKYO (Reuters) - The Bank of Japan will likely expand its purchase of Japanese real estate investment trusts (J-REITs) beyond its buying scheme announced earlier this year as part of the central bank's hyper easing steps, the Nikkei business daily said on Saturday. The BOJ said in April that it would boost the balance …

    • A Mitsubishi Motors logo is seen on display at the New York International Auto Show in New York City
      Mitsubishi Motors eyes new Indonesian plant

      TOKYO (Reuters) - Mitsubishi Motors Corp is considering boosting output capacity in Indonesia and possibly building a new plant there to capitalize on brisk demand in emerging Asian economies. "It is true … More »Mitsubishi Motors eyes new Indonesian plant

      A Mitsubishi Motors logo is seen on display at the New York International Auto Show in New York City

      TOKYO (Reuters) - Mitsubishi Motors Corp is considering boosting output capacity in Indonesia and possibly building a new plant there to capitalize on brisk demand in emerging Asian economies. "It is true that we are considering strengthening our operations in Indonesia, but nothing has been decided as of now," a company …

    • Poor weather has led to high levels of undersized beans

      By Joe Bavier ABIDJAN (Reuters) - Top producer Ivory Coast will offer a temporary refund on mid-crop cocoa in a bid to stimulate purchasing that has been hampered by small bean size, the country's marketing … More »Poor weather has led to high levels of undersized beans

      By Joe Bavier ABIDJAN (Reuters) - Top producer Ivory Coast will offer a temporary refund on mid-crop cocoa in a bid to stimulate purchasing that has been hampered by small bean size, the country's marketing board, the CCC, announced in a statement posted on its website. Ivory Coast forward sold the bulk of the anticipated …

    • Amplats workers end underground protest at South African mine

      JOHANNESBURG (Reuters) - Anglo American Platinum said on Saturday operations at its Thembelani mine in South Africa were back to normal after a "group of employees" on Friday prevented 2,400 workers from … More »Amplats workers end underground protest at South African mine

      JOHANNESBURG (Reuters) - Anglo American Platinum said on Saturday operations at its Thembelani mine in South Africa were back to normal after a "group of employees" on Friday prevented 2,400 workers from going above ground. "The situation at the mine is normal, people came above ground yesterday evening," Amplats spokeswoman …

    • Spain's Prime Minister Rajoy attends a news conference at the European Commission in Brussels
      Spain's Rajoy calls on ECB to create bank lending scheme for smaller companies

      MADRID (Reuters) - Spanish Prime Minister Mariano Rajoy on Saturday called on the European Central Bank to create a cheap funding scheme for small businesses, mirroring those used by authorities outside … More »Spain's Rajoy calls on ECB to create bank lending scheme for smaller companies

      Spain's Prime Minister Rajoy attends a news conference at the European Commission in Brussels

      MADRID (Reuters) - Spanish Prime Minister Mariano Rajoy on Saturday called on the European Central Bank to create a cheap funding scheme for small businesses, mirroring those used by authorities outside the euro zone to try and get credit flowing via banks. Rajoy, who has previously urged the ECB to change its collateral …

     

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