EU: Italy Poses A Threat to Other Euro Zone Countries
2019-02-27 20:27:14 UTC
BRUSSELS (Reuters) - Italy is facing excessive economic imbalances and the policies of its government are making matters worse, posing a threat to other euro zone countries, the European Commission said on Wednesday.
However, the EU executive arm, whose job is to analyze the economic performance of each of the EU’s 28 countries and warn of trouble ahead, said it would wait until it receives Italy’s reform program in April before taking action.
“Italy is experiencing excessive imbalances. High government debt and protracted weak productivity dynamics imply risks with cross-border relevance, in a context of still high level of non-perf...
Buffett rebukes Trump for taking credit for US economic growth
2019-02-23 19:58:52 UTC
(Reuters) - Warren Buffett on Saturday appeared to fault U.S. President Donald Trump for taking too much credit for the nation’s economic growth, while acknowledging that market conditions are making it tough for his Berkshire Hathaway Inc to find more big companies to buy.
Buffett lamented these states of affairs in his widely read annual letter to Berkshire shareholders.
Accompanying the letter was more bad news, that sinking stock prices and a big writedown for the company’s Kraft Heinz Co investment fueled a $25.39 billion fourth-quarter net loss, and caused Berkshire to post its lowest annual profit since 2001.
But many of ...
Putin says Russia ready to place new nuclear missile near US territory
2019-02-21 21:52:11 UTC
MOSCOW (Reuters) - Russian President Vladimir Putin said Russia is militarily ready for a Cuban Missile-style crisis if the United States wanted one and threatened to place hypersonic nuclear missiles on ships or submarines near U.S. territorial waters.
The Cuban Missile Crisis erupted in 1962 when Moscow responded to a U.S. missile deployment in Turkey by sending ballistic missiles to Cuba, sparking a standoff that brought the world to the brink of nuclear war.
More than five decades on, tensions are rising again over Russian fears that the United States might deploy intermediate-range nuclear missiles in Europe, as a landmark Cold ...
Tesla to buy battery tech maker Maxwell Technologies for $218 million
2019-02-04 17:12:26 UTC
(Reuters) - Tesla Inc has agreed to buy energy storage company Maxwell Technologies Inc for $218 million in an all-stock deal that could help the electric car maker produce batteries that hold more energy and last longer at a time when it needs to cut costs and faces growing competition.
Tesla is rapidly increasing production of its Model 3 sedan and needs to lower the price to reach a broader customer base than its pure luxury vehicles.
Maxwell executives told investors in January that it had developed and patented a “dry electrode” technology that could significantly increase the driving range and reduce the cost of electric vehicl...
Sanders to Ask Why Drug, Once Free, Now Costs $375k
2019-02-04 16:47:41 UTC
WASHINGTON (Reuters) - U.S. Senator Bernie Sanders sent a letter to Catalyst Pharmaceuticals on Monday asking it to justify its decision to charge $375,000 annually for a medication that for years has been available to patients for free.
The drug, Firdapse, is used to treat Lambert-Eaton Myasthenic Syndrome (LEMS), a rare neuromuscular disorder, according to the letter, made available to Reuters by the senator’s office. The disorder affects about one in 100,000 people in the United States.
The government is intensifying its scrutiny of the pharmaceutical industry and rising prescription drug prices, a top voter concern and a priority...
Germany to Accelerate Development of Autonomous Driving
2019-01-23 18:33:15 UTC
FRANKFURT (Reuters) - Germany’s top carmakers including BMW and Volkswagen are looking at ways to speed up development of the next generation of self-driving cars, possibly by even working together, as tech giant Google forges ahead with plans to mass produce such vehicles.
Carmakers and tech companies have been in a race to develop self-driving robotaxis since 2012 when Google unveiled a self-driving car. BMW announced a development pact with tech firm Mobileye in 2016 and Daimler struck an alliance with autos supplier Bosch in 2017.
BMW and Daimler’s first-generation autonomous cars will start to emerge after 2020/2021 using comput...
Brexit: EU To Prepare For Worst Variant
2019-01-16 04:37:26 UTC
BRUSSELS (Reuters) - European Union leaders expressed dismay and regret on Tuesday after the British parliament rejected a Brexit divorce deal, saying they were stepping up emergency planning and warned London was running out of time.
The EU’s chief executive, the European Parliament Brexit negotiator and a host of prime ministers took to Twitter to call on London for ideas on what to do now to stop Britain crashing out of the bloc with no deal on March 29.
European Council President Donald Tusk, who chairs EU summits, suggested the only real solution was for Britain to stay in the EU after British lawmakers defeated Prime Minister T...
U.S. President: 'I Never Worked For Russia'
2019-01-14 22:43:31 UTC
WASHINGTON (Reuters) - U.S. President Donald Trump said on Monday he never worked for Russia, his first direct denial after a media report that the FBI in 2017 investigated whether he acted against U.S. interests.
Trump also disputed a Washington Post report that he had concealed details about his meetings with Russian President Vladimir Putin and confiscated his interpreter’s notes. Congressional Democrats raised the possibility of subpoenaing the translator.
The New York Times reported on Friday that the FBI opened the investigation after Trump’s firing of FBI Director James Comey raised concerns that the president posed a threat t...
US Utility Company PG&E Explores Filing for Bankruptcy
2019-01-06 03:42:30 UTC
(Reuters) - California utility company PG&E Corp (PCG.N) is exploring filing some or all of its business for bankruptcy protection as it faces billions of dollars in liabilities related to fatal wildfires in 2018 and 2017, people familiar with the matter said on Friday.
The company is considering the move as a contingency, in part because it could soon take a significant financial charge for the fourth quarter of 2018 related to liabilities from the blazes, the sources said.
A bankruptcy filing is not certain, the sources said. The company could receive financial help through legislation that would let it pass on to customers costs a...
Pelosi Plans New Legislation to Reopen Parts of US Government
2019-01-06 03:12:02 UTC
WASHINGTON (Reuters) - U.S. House Speaker Nancy Pelosi said Democrats would pass new legislation to try to reopen parts of the government next week after talks between the Trump administration and Democratic negotiators on Saturday failed to end a two-week partial government shutdown.
President Donald Trump is demanding $5.6 billion to build a wall along the U.S. border with Mexico but Democrats in control of the House of Representatives this week passed a bill to reopen the government without providing additional funding for the wall.
Trump says he will not sign the bill until he gets the money for the wall.
After a meeting aimed...
Britain Will Be Worse Off In Any Scenario Outside The EU: Brexit
2018-11-28 20:47:57 UTC
LONDON (AFP) — Britain will be economically worse off in any scenario outside the EU, the government said Wednesday, as the Bank of England warned that a no-deal Brexit would trigger a financial crisis.
The government's plans for post-Brexit ties with the European Union would still cost the economy around 3.9 percent of gross domestic product over 15 years, a government report found.
Finance minister Philip Hammond said the departure deal agreed Sunday between Britain and the EU was the optimum way to minimise the cost of leaving the bloc.
The report comes as Prime Minister Theresa May took the divorce deal to a sceptical Scotland...
Catastrophic Effects of Climate Change
2018-11-25 02:46:14 UTC
(Reuters) - Climate change will cost the U.S. economy hundreds of billions of dollars by the end of the century, hitting everything from health to infrastructure, according to a government report issued on Friday that the White House called inaccurate.
The congressionally mandated report, written with the help of more than a dozen U.S. government agencies and departments, outlined the projected impact of global warming on every corner of American society in a dire warning that is at odds with the Trump administration’s pro-fossil-fuels agenda.
“With continued growth in emissions at historic rates, annual losses in some economic secto...
Germany Halts Arms Sales, Bans 18 Saudis
2018-11-19 23:31:54 UTC
BERLIN — Germany is halting previously approved arms exports to Saudi Arabia. The government says it is also banning 18 Saudi citizens suspected of being involved in Jamal Khashoggi's death from entering Europe's Schengen zone.
Germany has triggered proceedings to ban 18 Saudi citizens allegedly involved in the murder of dissident journalist Jamal Khashoggi from entering Europe's border-free Schengen zone, German Foreign Minister Heiko Maas said on Monday.
"We still have more questions than answers in the Khashoggi case," Maas said on the sidelines of a European Union meeting in Brussels, adding that he had discussed the decision wi...
Angela Merkel Lays Out Germany's Vision For Europe
2018-11-13 18:45:01 UTC
Strasbourg/ France — The German chancellor has addressed MEPs in Strasbourg, laying out Germany's vision for the future of Europe. Seven months ahead of EU parliamentary elections, she gave her personal assessment of where the bloc stands.
As the clock winds down on her final term as chancellor, Angela Merkel began by looking back on the EU's achievements and highlighting Europe's diversity, which was also its strength, she told the European Parliament in Strasbourg on Tuesday.
Merkel warned that Europe's values were under attack and she highlighted the principle of European solidarity: "We are experiencing that it is more and more d...
Democrat Kyrsten Sinema wins Arizona US Senate seat
2018-11-13 02:13:52 UTC
PHOENIX (AP) — Democrat Kyrsten Sinema won Arizona’s open U.S. Senate seat Monday in a race that was among the most closely watched in the nation, beating Republican Rep. Martha McSally in the battle to replace GOP Sen. Jeff Flake.
The three-term congresswoman won after a slow vote count that dragged on for nearly a week after voters went to the polls on Nov. 6. She becomes Arizona’s first Democratic U.S. senator since 1994. Her win cemented Arizona as a swing state after years of Republican dominance.
Sinema portrayed herself as a moderate who works across the aisle to get things done.
McSally, a former Air Force pilot who embrac...
Democrats Warn Against Mueller Probe Interference
2018-11-08 00:15:59 UTC
WASHINGTON (Reuters) - The ouster of Attorney General Jeff Sessions by President Donald Trump on Wednesday drew immediate criticism from Democrats who warned Trump against moving to squash a probe of Russian meddling in the 2016 U.S. presidential election.
The probe, led by Special Counsel Robert Mueller under the supervision of the Justice Department, has clouded the Trump presidency. The president had long complained about Sessions recusing himself from supervising Mueller.
The removal of the top U.S. law enforcement officer raised questions among Democrats concerned about the acting replacement Trump named for Sessions and what mo...
Angela Merkel Ally Urges New Era in German Politics
2018-11-07 19:51:09 UTC
The battle to be the next leader of Angela Merkel's Christian Democrats is heating up. Annegret Kramp-Karrenbauer, the candidate considered closest to the chancellor personally and politically, has now made her case.
Annegret Kramp-Karrenbauer, the woman many consider the natural successor to Angela Merkel both in leadership style and political agenda, has set out why she should be the next head of Germany's embattled conservative party, the Christian Democratic Union (CDU).
Wednesday's press conference in Berlin was a home game for the CDU general secretary, who staged it in the office representing Saarland, the small southwestern st...
Bernie Sanders and Elizabeth Warren Easily Won Re-Election
2018-11-07 01:46:30 UTC
WASHINGTON (AP) — Votes were being counted across half the country Tuesday evening as the energy and outrage of the Democratic resistance faced off against the brute strength of President Donald Trump’s GOP in a fight for control of Congress and statehouses across the nation.
Fundraising, polls and history were not on the president’s side. But two years after an election that proved polls and prognosticators wrong, an air of uncertainty — and stormy weather across parts of the country — clouded the outcome of high-stakes elections from Florida to Alaska and everywhere in between.
Sens. Bernie Sanders of ...
Brexit Pulls UK and Ireland Apart, Undermines Relationship
2018-11-05 04:16:25 UTC
DUBLIN (Reuters) - Brexit has undermined the Good Friday Agreement which ended thirty years of violence in Northern Ireland, Irish Prime Minister Leo Varadkar said on Saturday.
“Brexit has undermined the Good Friday Agreement and is fraying the relationship between Britain and Ireland,” he told Irish state broadcaster RTE.
The border between Ireland and Northern Ireland after Brexit has been one of the major sticking points in Britain’s negotiations to leave the European Union in March next year.
“Anything that pulls the communities apart in Northern Ireland undermines the Good Friday Agreement, and anything that pulls Britain and...
Hateful U.S. Politics Target Minorities and Immigrants
2018-11-02 17:57:53 UTC
Last week, several top Democrats were targeted by pipe bombs, two black Americans were killed in what appeared to be a racially-motivated murder, and a terror attack against Jewish Americans in their place of worship that left 11 people dead.
Are American growing more violent? Are they regressing into something akin to what we saw in the 1960s, an era marked by assassinations, civil unrest, and political chaos? Has the cocktail of guns, polarization, and alienation made mass shootings a permanent feature of American life?
Read the responses of seven experts below:
<blockquote><hr class='grey-line'><h4>Joanne Freeman, author of <a ...
Democrats more energized ahead of midterms
2018-11-01 01:27:30 UTC
The entertainment icon Oprah Winfrey, who offered crucial support to President Barack Obama during his 2008 rise, will campaign Thursday for Georgia Democratic gubernatorial candidate Stacey Abrams, who is attempting to become the nation’s first black female governor.
Obama plans to campaign Friday for Abrams in Atlanta and in Miami to boost Florida Sen. Bill Nelson and Tallahassee mayor Andrew Gillum, who is running for governor. On Sunday, the former president will be in Gary, Indiana, for Sen. Joe Donnelly, who is among the most endangered Senate Democrats, and in his hometown of Chicago for J.B. Pritzker, who is the favorite in Illi...
Angela Merkel offering to step down as CDU head
2018-10-30 18:58:10 UTC
BERLIN (AP) — Angela Merkel set off Monday on what could be a three-year countdown to the end of her leadership of Germany, a stint that has made her the European Union’s longest-serving leader and a key figure in facing the continent’s many crises.
Merkel announced that she will give up the leadership of her conservative Christian Democratic Union in December and won’t stand for a fifth term as chancellor — signaling the beginning of the end at the helm for the woman many had labeled the “leader of the free world.”
That’s a title she herself objected to, saying leadership is never up to one person or country. But she has been a stal...
Hate Crimes in Trump Era
2018-10-29 01:42:06 UTC
The 56-year-old Cesar Sayoc, the suspected mad bomber who sent possible explosive devices to Democrat leaders attended repeated campaign rallies for Donald Trump and embraced a range of virulent right-wing fringe causes. He’s a true believer in Trump, according to his social media pages.
In another crime, the suspect in the mass shooting at a Pittsburgh synagogue expressed hatred of Jews during the rampage and told officers afterward that Jews were committing genocide and that he wanted them all to die, according to charging documents.
Trump delivered these lines after the attack: "There must be no tolerance for anti-Semitism in Amer...
A "MAGA" Terrorist Identified As Mail Bomb Suspect
2018-10-26 21:17:34 UTC
The 56-year-old Cesar Sayoc, the suspected mad bomber who sent possible explosive devices to Democrat leaders attended repeated campaign rallies for Donald Trump and embraced a range of virulent right-wing fringe causes. He’s a true believer in Trump, according to his Facebook Page.
The Brooklyn born suspect was arrested at an auto parts store in the nearby city of Plantation. Court records show Sayoc has a history of arrests for theft, illegal possession of steroids and a 2002 charge of making a bomb threat. When he filed for bankruptcy in 2012, he recently lived with his mother.
European lawmakers vote to ban single-use plastics
2018-10-25 19:15:10 UTC
European lawmakers have approved measures to reduce plastics polluting seas and oceans. A proposed ban targets the top 10 single-use plastic products that litter Europe's beaches.
The European Parliament on Wednesday approved measures that could lead to a ban on single-use plastic items, including straws, cotton swabs and disposable plastic plates and cutlery, by 2021. The parliament backed the proposals with a 571-53 majority.
In May, the European Commission proposed EU-wide rules to target the top 10 single-use plastic items that litter Europe's beaches or are found in its seas, as well as lost and abandoned fishing gea...