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City Council To Vote On Villaraigosa’s $7.2B Budget

The Los Angeles City Council is scheduled to vote Monday on a $7.2 billion budget proposal that delays layoffs but makes close to $70 million in cuts to city services and shrinks the city's workforce by more than 400 positions.

Greek euro zone exit unlikely, say money market traders

BANGALORE (Reuters) - A slim majority of euro zone money market traders surveyed regularly by Reuters reckon Greece will still be in the euro zone at the end of 2013, a poll showed on Monday. Fourteen of 22 euro money market traders said Greece would not abandon the euro either this year or next - an event once seen as unthinkable but is now being openly discussed as the country battles political and economic upheaval. A summit of the G8 leading industrialized nations came down solidly in favor of a push to balance European austerity with a new dose of U.S. ...

New wine glasses aim to balance "water and fire"

HONG KONG (Reuters) - Could a wine glass shaped roughly like a closed tulip blossom revolutionize the savoring of fine vintages by taming the alcohol in the wine? That's the hope of French luxury crystal glassmaker Baccarat, which recently began sales of its new line of glasses in Hong Kong, where wine imports have remained strong on the back of strong demand from mainland Chinese buyers even amid global economic uncertainty. ...

Brent edges up toward $108, Greece weighs

Containers filled with oil cleaned up from the oil spill site are seen at Beilianggang port in DalianLONDON (Reuters) - Oil prices edged higher on Monday, climbing back towards $108 per barrel in a reaction to heavy losses last week, but worries about Greece's possible exit from the euro counterbalanced talk of the prospect of an economic stimulus in China. A summit of the G8 at the weekend failed to deliver any signal that Europe would act quickly to address the risk of a chaotic Greek exit from the euro, leaving investors in a state of alert, curbing an upturn in oil prices. "Gains may be short-lived as EU politicians as usual are having a hard time agreeing on anything. ...


City of Athens may try to tax frackers

The city of Athens is now considering its own severance tax for oil and gas companies in the hopes of using monies collected for a "clean-up" fund to be established in the city.

Lowe's 1Q profit up, but cuts 2012 profit outlook

FILE -- In a Nov. 14, 2011 file photo, customers walk toward the Lowe's store in Saugus, Mass. Lowe's Cos.'reported Monday May 21, 2012, first-quarter profit climbed 14 percent, as warmer weather helped boost sales. (AP Photo/Michael Dwyer/file)Lowe's Cos.' first-quarter profit climbed 14 percent, as warmer weather helped boost sales. But the world's second-biggest home improvement company lowered its full-year earnings forecast on Monday, saying it is still cautious on the housing market and economic conditions.


Jury to reconvene in ex-Senator Edwards' federal trial

John Edwards arrives at the federal courthouse for jury deliberations in GreensboroGREENSBORO, North Carolina (Reuters) - Jurors were set to resume deliberations on Monday in the federal campaign finance case against former U.S. Senator John Edwards, who is accused of using campaign funds to hide his pregnant mistress as he sought the presidency. A jury of eight men and four women in Greensboro, North Carolina, considered the case for about 5 1/2 hours on Friday before breaking for the weekend. They must reach a unanimous verdict to convict Edwards, a two-time presidential candidate and the Democrats' 2004 vice presidential nominee, on any of the six felony counts he faces. ...


Jury to reconvene in ex-Senator Edwards' federal trial

John Edwards arrives at the federal courthouse for jury deliberations in GreensboroGREENSBORO, North Carolina (Reuters) - Jurors were set to resume deliberations on Monday in the federal campaign finance case against former U.S. Senator John Edwards, who is accused of using campaign funds to hide his pregnant mistress as he sought the presidency. A jury of eight men and four women in Greensboro, North Carolina, considered the case for about 5 1/2 hours on Friday before breaking for the weekend. They must reach a unanimous verdict to convict Edwards, a two-time presidential candidate and the Democrats' 2004 vice presidential nominee, on any of the six felony counts he faces. ...


Spain to slump further but will hit deficit goal

Spain's Economy Minister De Guindos listens to a question at a conference in MadridMADRID (Reuters) - Spain said on Monday it would meet its deficit targets this year despite a new slippage in its regions' accounts and a further contraction of the economy in the second quarter. Economy Minister Luis de Guindos said economic activity would likely slump by another 0.3 percent between April and June, further fuelling doubts about the country's ability to get a grip on in its finances and nurse an ailing banking sector back to health. ...


At least 45 arrests, some injuries in Chicago anti-NATO clashes

Police officers arrest a protester near the site of the NATO Summit in ChicagoCHICAGO (Reuters) - Four police officers were injured and 45 demonstrators arrested after baton-wielding police clashed with anti-war protesters marching on the NATO summit in Chicago on Sunday, police said. A lawyer's group assisting protesters challenged police figures, saying at least 12 protesters were hurt, some with head wounds from police batons, and more than 60 people detained. The confrontation began after a 2 1/2 mile march from a Chicago park to near the site of the summit, where leaders of the NATO alliance are discussing the war in Afghanistan. ...


At least 45 arrests, some injuries in Chicago anti-NATO clashes

Police officers arrest a protester near the site of the NATO Summit in ChicagoCHICAGO (Reuters) - Four police officers were injured and 45 demonstrators arrested after baton-wielding police clashed with anti-war protesters marching on the NATO summit in Chicago on Sunday, police said. A lawyer's group assisting protesters challenged police figures, saying at least 12 protesters were hurt, some with head wounds from police batons, and more than 60 people detained. The confrontation began after a 2 1/2 mile march from a Chicago park to near the site of the summit, where leaders of the NATO alliance are discussing the war in Afghanistan. ...


Barloworld pins hopes on China and Russia

A mine worker looks on underground in Modderfontein East mine, outside JohannesburgJOHANNESBURG (Reuters) - South African industrial group Barloworld expects Chinese and Russian demand for resources to underpin growth for equipment such as forklifts and trucks, its chief executive told Reuters in an interview. Worries about slowing demand from the world's second-largest economy have hit commodities and led miners to defer spending plans. Yet Clive Thompson, head of the $2.3 billion equipment supply company, said such fears may be overblown. ...


Gay advocates urge no prison time for Rutgers student

Ravi, a former Rutgers University student charged with bias intimidation, sits with his defense attorneys while awaiting a verdict in his trial at the Superior Court of New Jersey in Middlesex CountyNEW BRUNSWICK, New Jersey (Reuters) - A former Rutgers University student faces up to 10 years in prison at his sentencing on Monday for hate crimes after spying on his roommate's gay tryst, but many gay advocates are calling for no time behind bars. Tyler Clementi, 18, committed suicide in 2010 after learning that Dharun Ravi used a computer-mounted camera to see him kissing an older man in their dorm room and used social media to encourage others to watch. ...


Gay advocates urge no prison time for Rutgers student

Ravi, a former Rutgers University student charged with bias intimidation, sits with his defense attorneys while awaiting a verdict in his trial at the Superior Court of New Jersey in Middlesex CountyNEW BRUNSWICK, New Jersey (Reuters) - A former Rutgers University student faces up to 10 years in prison at his sentencing on Monday for hate crimes after spying on his roommate's gay tryst, but many gay advocates are calling for no time behind bars. Tyler Clementi, 18, committed suicide in 2010 after learning that Dharun Ravi used a computer-mounted camera to see him kissing an older man in their dorm room and used social media to encourage others to watch. ...


Egypt's GDP grows 5.2 pct in Q1 2012: minister

CAIRO (Reuters) - Egypt's gross domestic product (GDP) grew by an annualised 5.2 percent in the first quarter of calendar 2012 compared to a 4.3 percent contraction in the same three months a year earlier, Planning Minister Faiza Abu el-Naga said on Monday. The popular uprising that ousted Hosni Mubarak from the presidency in February 2011 hammered Egypt's economy last year, closing banks, the stock exchange and many factories.

City gender pay gap hits 21pc

Women working in the City earn 21pc less than their male counterparts, new figures on the gender pay gap show.

Putin dominates new Russian government

Russia's President Putin attends the CSTO summit at the Kremlin in MoscowMOSCOW (Reuters) - Russian President Vladimir Putin unveiled a government dominated by loyalists on Monday, tightening his grip on the economy and limiting Prime Minister Dmitry Medvedev's ability to pursue his reform agenda. Igor Shuvalov, a powerful Putin ally, kept his post as first deputy prime minister in overall charge of economic policy and Anton Siluanov, a career bureaucrat, remained finance minister. Putin also consolidated his power over the security structures, with Anatoly Serdyukov staying on as defense minister, and kept faith with long-serving Foreign Minister Sergei Lavrov. ...


Germany insists no eurobonds to solve debt crisis

French President Francois Hollande, left, takes his seat next to German Chancellor Angela Merkel during the opening session of the North Atlantic Council meeting at the NATO summit in Chicago, Sunday, May 20, 2012. (AP Photo/Philippe Wojazer, Pool)A German official made clear on Monday that Berlin continues to oppose the idea of jointly-issued bonds for the 17-nation eurozone, which France's new president had suggested could be used to create much-needed economic growth and ease the region's financial crisis.


Economists more upbeat about job growth, housing

A new survey shows economists are growing slightly more optimistic about recovery in the job and housing markets but expect other pillars of the economy to remain weak.

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Former Olympic swimmer Sharron Davies MBE has spoken of local newspapers giving vital publicity to upcoming sports stars in a message for Local Newspaper Week.

Spain: no need for European funds to help banks

Spain's economy minister says a nationalized bank laden with toxic real estate assets will require a fresh injection of public money of up to €7.5 billion ($9.6 billion), but dismissed suggestions from France that the banking sector as a whole needs to be bolstered with European money.

City: De-watering lagoon a concern

The city writes letters to Coastal Commission and state officials about concerns over the lagoon ahead of a June 1 restoration project.

World stock markets edge up after G-8 summit

A woman looks at an electronic stock indicator in Tokyo Monday, May 21, 2012. Bargain-hunting helped Asian stock markets edge upward Monday, but gains were limited as investors remained unconvinced that the world's major economies nailed a solution to the European debt crisis following a summit in Washington. Japan's Nikkei 225 index came off four-month lows to rise 0.3 percent at 8,636.89. (AP Photo/Shizuo Kambayashi)Assurances that world powers want debt-laden Greece to remain in the euro helped support world stock markets Monday after sharp losses over the past week.


Analysis: China eschews fiscal fanfare for supportive spending

BEIJING (Reuters) - China's focus on fine-tuning monetary and fiscal policies to fight the risk of a sudden economic slide worries investors pricing in a sixth successive quarter of slowing growth with no obvious sign of the solid stimulus they want. With domestic activity stifled by government curbs on real-estate speculation, the potential damage to demand for China's factory products from a deeper European debt crisis seems a logical justification for a spending splurge. "Maybe it would be easier for China if there were another global financial crisis. ...

Thai economy rebounds strongly from flood crisis

Thailand's GDP grew 11% in January-March from the previous quarterThailand's economy posted double-digit growth in the first quarter of 2012, rebounding sharply from the fallout of last year's devastating floods, official data showed Monday.


Asia stocks mixed after G8 vague on Europe fix

A woman looks at an electronic stock indicator in Tokyo Monday, May 21, 2012. Bargain-hunting helped Asian stock markets edge upward Monday, but gains were limited as investors remained unconvinced that the world's major economies nailed a solution to the European debt crisis following a summit in Washington. Japan's Nikkei 225 index came off four-month lows to rise 0.3 percent at 8,636.89. (AP Photo/Shizuo Kambayashi)Bargain-hunting helped Asian stock markets edge upward Monday, but gains were limited as investors remained unconvinced that the world's major economies nailed a solution to the European debt crisis following a summit in Washington.


Harrisburg City Islanders Defeat Dayton Dutch Lions

On Saturday, May 19, 2012, the Harrisburg City Islanders hosted a game against the Dayton Dutch Lions at Skyline Sports Complex on City Island in Harrisburg, Pennsylvania. This game proved to be a great one for the City Islanders and provided the City Islanders with just their second victory of the season in six games. The team took the victory by a score of 4-0 over the Dutch Lions. It was an ...

City's financial forecast is clear

The city of Manhattan Beach will see a budget surplus at the end of the current fiscal year and in the next five years, but must address its waning wastewater fund and growing pension costs.

Nigeria fines MTN, others $7.38 mln for bad service

To match Feature FRONTIERS/AFRICAABUJA (Reuters) - Nigeria's telecoms regulator fined the country's four main mobile operators, including MTN and Bharti Airtel, a total of 1.17 billion naira on Sunday for poor-quality service. The telecoms industry is hugely profitable in Nigeria, Africa's second-biggest economy and home to some 160 million people, but users complain that the service is poor, with frequent dropped calls and network interruptions. ...


Brent recovers towards $108 on possible China growth stimulus

SINGAPORE (Reuters) - Brent crude recovered towards $108 on Monday on hopes that China could take new steps to stimulate growth and lift fuel demand at the world's second largest oil user, although concerns about the euro zone crisis capped gains. China's premier called for additional efforts to support growth on Sunday, while Goldman Sachs said world oil demand is growing despite recent weak economic data. The comments provided a bright spark in global markets, battered in past weeks by fears that Greece's political turmoil could spread to other countries in Europe. ...

Inmates riot in Mississippi prison, one guard killed

(Reuters) - Inmates seized control of a privately owned prison in Mississippi on Sunday after riots broke out, and a guard was killed in the chaos in the low security facility, authorities said. Adams County Coroner James Lee said the 23-year-old guard died of blunt trauma to the head during the riot at the Adams County Correctional Center, a privately owned prison that houses mostly illegal immigrants for the Federal Bureau of Prisons. "This is an ongoing riot that still has not been rectified because the prisoners are in still in charge of the prison," Lee said, speaking at around 9 p.m. ...

Inmates riot in Mississippi prison, one guard killed

(Reuters) - Inmates seized control of a privately owned prison in Mississippi on Sunday after riots broke out, and a guard was killed in the chaos in the low security facility, authorities said. Adams County Coroner James Lee said the 23-year-old guard died of blunt trauma to the head during the riot at the Adams County Correctional Center, a privately owned prison that houses mostly illegal immigrants for the Federal Bureau of Prisons. "This is an ongoing riot that still has not been rectified because the prisoners are in still in charge of the prison," Lee said, speaking at around 9 p.m. ...

City snubs indebted firms

The city council wants to put companies on notice: If you owe the city money, forget about getting any more business until you've settled your debt.

Tropical Storm Alberto loses strength, forecasters say

NASA satellite image of Tropical Storm AlbertoCharleston, South Carolina (Reuters) - Tropical Storm Alberto churned off the coasts of Georgia and South Carolina on Sunday, and heavy rain and dangerous surf were expected even though forecasters said it had lost strength. Bringing an early start to the Atlantic hurricane season, Alberto reached tropical storm strength on Saturday. By Sunday evening it was about 85 miles south-east of St Augustine, Florida, according to the hurricane center in Miami. ...


Tropical Storm Alberto loses strength, forecasters say

NASA satellite image of Tropical Storm AlbertoCharleston, South Carolina (Reuters) - Tropical Storm Alberto churned off the coasts of Georgia and South Carolina on Sunday, and heavy rain and dangerous surf were expected even though forecasters said it had lost strength. Bringing an early start to the Atlantic hurricane season, Alberto reached tropical storm strength on Saturday. By Sunday evening it was about 85 miles south-east of St Augustine, Florida, according to the hurricane center in Miami. ...


Zuckerberg's post-IPO wedding is smart legal move

Facebook co-founder and CEO Zuckerberg and Priscilla Chan are seen in this screengrab of a wedding photo posted on Zuckerberg's Facebook pageSAN FRANCISCO (Reuters) - Getting married was a smart business move as well as a personal milestone for Facebook chief Mark Zuckerberg, with the timing of the wedding, the day after the company's initial public offering, potentially proving particularly advantageous, California divorce lawyers said on Sunday. Assuming the couple signed a prenuptial agreement, as most wealthy Californians do, Zuckerberg and Chan would have agreed exactly how to split assets, including his Facebook stock, if their marriage dissolved in future. ...


Zuckerberg's post-IPO wedding is smart legal move

Facebook co-founder and CEO Zuckerberg and Priscilla Chan are seen in this screengrab of a wedding photo posted on Zuckerberg's Facebook pageSAN FRANCISCO (Reuters) - Getting married was a smart business move as well as a personal milestone for Facebook chief Mark Zuckerberg, with the timing of the wedding, the day after the company's initial public offering, potentially proving particularly advantageous, California divorce lawyers said on Sunday. Assuming the couple signed a prenuptial agreement, as most wealthy Californians do, Zuckerberg and Chan would have agreed exactly how to split assets, including his Facebook stock, if their marriage dissolved in future. ...


Mom with flesh-eating disease had seven operations: brother

CHARLESTON, South Carolina (Reuters) - A 36-year-old new mother of twins who is suffering from a "flesh-eating" bacterial infection has undergone a series of operations to remove dead or damaged tissue in a South Carolina hospital, her brother said on Sunday. Lana Kuykendall was admitted to Greenville Memorial Hospital on May 11, days after giving birth, with a painful spot on her leg that was ultimately diagnosed as necrotizing fasciitis, a serious infection of the skin and soft tissues. ...

Mom with flesh-eating disease had seven operations: brother

CHARLESTON, South Carolina (Reuters) - A 36-year-old new mother of twins who is suffering from a "flesh-eating" bacterial infection has undergone a series of operations to remove dead or damaged tissue in a South Carolina hospital, her brother said on Sunday. Lana Kuykendall was admitted to Greenville Memorial Hospital on May 11, days after giving birth, with a painful spot on her leg that was ultimately diagnosed as necrotizing fasciitis, a serious infection of the skin and soft tissues. ...

Michelle Obama shows South Side of Chicago to first ladies

U.S. First Lady Michelle Obama greets Valerie Trierweiler, companion of France's President Francois Hollande, before a tour of the Gary Comer Youth Center in ChicagoCHICAGO (Reuters) - Michelle Obama showed off her neighborhood on the South Side of Chicago to some NATO visitors on Sunday, taking five other first ladies to a youth center for lunch and for a musical performance by the children. The women toured the Gary Komer Youth Center, which features a gymnasium, dance studio and a theater. The center provides tutoring, college preparation, training in culinary arts and horticulture for young people in the community, 90 percent of whom come from low-income households. ...


Michelle Obama shows South Side of Chicago to first ladies

U.S. First Lady Michelle Obama greets Valerie Trierweiler, companion of France's President Francois Hollande, before a tour of the Gary Comer Youth Center in ChicagoCHICAGO (Reuters) - Michelle Obama showed off her neighborhood on the South Side of Chicago to some NATO visitors on Sunday, taking five other first ladies to a youth center for lunch and for a musical performance by the children. The women toured the Gary Komer Youth Center, which features a gymnasium, dance studio and a theater. The center provides tutoring, college preparation, training in culinary arts and horticulture for young people in the community, 90 percent of whom come from low-income households. ...


Veterans symbolically discard service medals at anti-NATO rally

CHICAGO (Reuters) - Nearly 50 U.S. military veterans at an anti-NATO rally in Chicago threw their service medals into the street on Sunday, an action they said symbolized their rejection of the U.S.-led wars in Iraq and Afghanistan. Some of the veterans, many wearing military uniform shirts over black anti-war t-shirts, choked back tears as they explained their actions. Others folded an American flag while a bugle played "Taps," which is typically performed at U.S. military funerals. "The medals are supposed to be for acts of heroism. I don't feel like a hero. ...

G8 growth talk leaves wary markets awaiting action

U.S. President Obama hosts an expanded G8 meeting with African and other leaders during G8 Summit working lunch at Camp David(Reuters) - A pledge by leaders of industrialized nations to help the troubled world economy is unlikely to herald quick new action by Europe on its debt crisis, meaning more uncertainty for nervous financial markets. The Group of Eight economies stressed on Saturday that their "imperative is to promote growth and jobs", as they also recognized problems among European banks and gave verbal backing for Greece to stay in the euro. Still, despite U.S. calls for immediate moves to boost growth, no sign emerged that Germany would soften its stance on austerity as the cure for Europe's debt ...


Mom with flesh-eating disease had seven operations: brother

CHARLESTON, South Carolina (Reuters) - A 36-year-old new mother of twins who is suffering from a "flesh-eating" bacterial infection has undergone a series of operations to remove dead or damaged tissue in a South Carolina hospital, her brother said on Sunday. Lana Kuykendall was admitted to Greenville Memorial Hospital on May 11, days after giving birth, with a painful spot on her leg that was ultimately diagnosed as necrotizing fasciitis, a serious infection of the skin and soft tissues. ...

NATO seeks unity on Afghan war despite French exit plan

Leaders take part in the NATO Summit meeting in ChicagoCHICAGO (Reuters) - NATO leaders charting a path out of Afghanistan sought on Sunday to dispel fears of a rush for the exits in the unpopular war even as France's new president vowed to stick by his pledge to withdraw French troops by year's end. President Barack Obama, who once called the Afghan conflict a "war of necessity" but is now looking for an orderly way out, hosted the NATO summit in his home town, Chicago, a day after major industrialized nations tackled a European debt crisis that threatens the global economy. ...


Thousands protest in Chicago as NATO summit opens

Protesters holding an American flag march over a bridge during an anti-NATO protest march in ChicagoCHICAGO (Reuters) - Thousands of protesters carried their anti-war message to world leaders at a NATO summit on a steamy Sunday, in a mostly peaceful march led by a group of Iraq War veterans who symbolically gave back their military medals. During the march, a group of black-clad demonstrators darted toward police lines along the route, and some threw water bottles at officers who pushed back and yelled at them to move along, but there were no major incidents. ...


Putin to dominate new Russian government

Russia's President Putin attends the CSTO summit at the Kremlin in MoscowWASHINGTON/MOSCOW (Reuters) - Russian President Vladimir Putin will unveil a government dominated by loyalists on Monday, leaving Prime Minister Dmitry Medvedev limited scope to pursue his reform agenda and entrenching the Kremlin's grip over the economy's commanding heights. Medvedev, 46, named premier after Putin returned to the Kremlin on May 7, has pledged to launch pro-growth policies and a privatization drive to wean Russia's $1.7 billion economy off its dependence on oil. ...


In tornado-weary Joplin, graduates eager to move on despite Obama visit

A cross is seen in JoplinJOPLIN, Mo (Reuters) - Having the president of the United States speak at commencement would normally be the most memorable day in the life of a high school senior. But not in Joplin, Missouri, where President Barack Obama's commencement address on Monday will come one year after the deadliest tornado in the United States in six decades killed 161 people. "I'm pretty sure we will remember the tornado more than Obama's speech," said graduating senior Ethan Ritschel. ...


Fed by dry brush, wildfires persist in Southwest

Firefighters prepare to use a helicopter to survey the Gladiator Fire in CleatorPHOENIX (Reuters) - An Arizona wildfire whipped up by winds and dry conditions threatened to trigger more evacuations on Sunday, just as firefighters were nearly done battling the biggest of four blazes in the state. Fires in Arizona, New Mexico and Colorado have forced the evacuation of several small towns and torched more than 65 square miles (168 square km) of forest, brush and grass in the U.S. Southwest. ...


Dale Chihuly's 'Glass House' shines in Seattle

The Seattle Sun by artist Dale Chihuly is on display at the Chihuly Garden and Glass exhibit in Seattle(Reuters) - Pioneering glass artist Dale Chihuly, whose work has been shown in over 200 museums worldwide, will be honored in his home city Seattle when "Chihuly Garden and Glass" opens on Monday, offering the most comprehensive collection of his work ever. Spanning one and a half acres in the shadow of the Space Needle, the show includes an exhibition hall, a garden and a "Glass House" structure by Chihuly, inspired by his two favorite buildings, Paris' Sainte-Chapelle and London's Crystal Palace. ...


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