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  • Diageo names Menezes CEO with eye on emerging markets

    May 7, 2013 9:29 AM 9

    LONDON (Reuters) - Diageo named Ivan Menezes as chief executive on Tuesday, turning to an Indian-born company insider whose role in the British drinks firm's push into emerging markets points to where it sees its future. Chief Operating Officer Menezes, 53, replaces Paul Walsh, who is stepping down after 13 years, the maker of Johnnie Walker whisky said in an announcement

  • HSBC profits nearly double as costs and bad debts fall

    May 7, 2013 9:15 AM 12

    LONDON (Reuters) - HSBC aims to keep the pressure on costs after first-quarter earnings nearly doubled due to the bank's three-year efficiency drive and a halving in bad debts charges. The jump in profits reinforces HSBC's position as one of the strongest global banks after the financial crisis partly as a result of a radical overhaul to simplify its sprawling

  • Britain should quit European Union - Nigel Lawson

    May 7, 2013 9:14 AM 12

    LONDON (Reuters) - Britain should leave the European Union because Prime Minister David Cameron's plan to claw back powers from Brussels is doomed, a former senior minister said on Tuesday, stirring divisions that threaten his party's re-election hopes. The intervention of Nigel Lawson, a heavyweight in the Conservative party who served as Margaret Thatcher's

  • North Korea missiles moved away from launch site - U.S. officials

    May 7, 2013 9:05 AM 10

    WASHINGTON (Reuters) - North Korea has taken two Musudan missiles off launch-ready status and moved them from the country's east coast, U.S. officials told Reuters on Monday, after weeks of concern that Pyongyang had been poised for a test-launch. U.S. Secretary of State John Kerry warned North Korea last month that it would be a "huge mistake" to fire the medium-range

  • Pakistan election violence forces candidates behind high walls

    May 7, 2013 8:49 AM 13

    PESHAWAR, Pakistan (Reuters) - Mian Hussain is fighting for his political life from a deserted party headquarters, where two telephones sit silently beside him and the footsteps of a tea boy echo down the corridor. One of Pakistan's most high-profile anti-Taliban politicians, Hussain hasn't been to a single public event since campaigning for the May 11 election

  • China rejects Pentagon charges of military espionage

    May 7, 2013 8:15 AM 8

    WASHINGTON (Reuters) - China is using espionage to acquire technology to fuel its military modernization, the Pentagon said on Monday, for the first time accusing the Chinese of trying to break into U.S. defence computer networks and prompting a firm denial from Beijing. In its 83-page annual report to Congress on Chinese military developments, the Pentagon

  • Sainsbury's in talks with Lloyds over Sainsbury's Bank control

    May 7, 2013 7:14 AM 13

    LONDON (Reuters) - J Sainsbury, Britain's third largest supermarket group, said on Tuesday it was in advanced negotiations with Lloyds Banking Group to take full ownership of the Sainsbury's Bank joint venture. The statement was prompted by media speculation over the weekend that Sainsbury's was on the verge of buying out Lloyds' 50 percent stake in the bank. Sainsbury's

  • China reports four more bird flu deaths, toll rises to 31

    May 7, 2013 4:56 AM 13

    BEIJING (Reuters) - Four more people in China have died from a new strain of bird flu, bringing to 31 the number of deaths from the mysterious H7N9 virus, with the number of infections rising by two to 129, according to Chinese health authorities. Among the deaths, two occurred in the eastern province of Jiangsu; one was from eastern Zhejiang; while

  • Sharp's axe too blunt; lenders to push for deeper restructuring

    August 10, 2012 12:15 AM 13

    TOKYO Aug 10 (Reuters) - Sharp Corp's leading bank creditors are likely to demand a more sweeping restructuring at the struggling Japanese TV and display maker as a condition for extending new loans, said people involved in the ongoing talks. Sharp's two main lenders, Mizuho Corporate Bank and Bank of Tokyo-Mitsubishi UFJ (BTMU), are poring over the company's

  • Yahoo may rethink use of cash from Alibaba deal

    August 9, 2012 11:56 PM 11

    SAN FRANCISCO, Aug 9 (Reuters) - Yahoo Inc (YHOO.O) may re-evaluate plans for the cash it gets from a multibillion-dollar sale of half of its 40 percent stake in Chinese Internet company Alibaba Group. Shares of Yahoo fell 4.4 percent to $15.30 in after hours trading on Thursday. Yahoo, which hired new Chief Executive Marissa Mayer last month, said in a filing