Sunday, July 21, 2013

Economy News Headlines - Yahoo! News

Economy News Headlines - Yahoo! Newshttp://news.yahoo.com/economy/ Get the latest economy news headlines from Yahoo! News. Find breaking economy news, including analysis and opinion on top economy stories, photos and more.en-USCopyright (c) 2013 Yahoo! Inc. All rights reservedSat, 20 Jul 2013 23:48:00 -04005Economy News Headlines - Yahoo! Newshttp://news.yahoo.com/economy/ http://l.yimg.com/a/i/us/nws/th/main_142c.gifJapan PM heads for election victory amid policy concerns<p><a href="http://news.yahoo.com/japan-pm-heads-election-victory-amid-policy-concerns-023711237.html"><img src="http://l1.yimg.com/bt/api/res/1.2/rYMK6LsFP7OJHC5uGxIjJQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-21T041736Z_4_CBRE96J1MNL00_RTROPTP_2_CNEWS-US-JAPAN-ELECTION.JPG" width="130" height="86" alt="People holding Japanese national flags listen to Japan&#039;s Prime Minister Abe and leader of the ruling LDP as he speaks while campaigning for the July 21 Upper house election in Tokyo" align="left" title="People holding Japanese national flags listen to Japan&#039;s Prime Minister Abe and leader of the ruling LDP as he speaks while campaigning for the July 21 Upper house election in Tokyo" border="0" /></a>By Linda Sieg TOKYO (Reuters) - Prime Minister Shinzo Abe&#039;s ruling bloc looks set for a handsome upper house election win on Sunday, cementing his grip on power and setting the stage for Japan&#039;s first stable government since the charismatic Junichiro Koizumi left office in 2006. The victory would give the hawkish leader a stronger mandate for his recipe to revive the economy and spell his personal political redemption after he led his Liberal Democratic Party (LDP) to a humiliating defeat in a 2007 upper house election. ...</p><br clear="all"/>http://news.yahoo.com/japan-pm-heads-election-victory-amid-policy-concerns-023711237.htmlSat, 20 Jul 2013 23:48:00 -0400Reutersjapan-pm-heads-election-victory-amid-policy-concerns-023711237<p><a href="http://news.yahoo.com/japan-pm-heads-election-victory-amid-policy-concerns-023711237.html"><img src="http://l1.yimg.com/bt/api/res/1.2/rYMK6LsFP7OJHC5uGxIjJQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-21T041736Z_4_CBRE96J1MNL00_RTROPTP_2_CNEWS-US-JAPAN-ELECTION.JPG" width="130" height="86" alt="People holding Japanese national flags listen to Japan&#039;s Prime Minister Abe and leader of the ruling LDP as he speaks while campaigning for the July 21 Upper house election in Tokyo" align="left" title="People holding Japanese national flags listen to Japan&#039;s Prime Minister Abe and leader of the ruling LDP as he speaks while campaigning for the July 21 Upper house election in Tokyo" border="0" /></a>By Linda Sieg TOKYO (Reuters) - Prime Minister Shinzo Abe&#039;s ruling bloc looks set for a handsome upper house election win on Sunday, cementing his grip on power and setting the stage for Japan&#039;s first stable government since the charismatic Junichiro Koizumi left office in 2006. The victory would give the hawkish leader a stronger mandate for his recipe to revive the economy and spell his personal political redemption after he led his Liberal Democratic Party (LDP) to a humiliating defeat in a 2007 upper house election. ...</p><br clear="all"/>Factbox - Japan PM Abe scorecard: What to watch for after electionTOKYO (Reuters) - Japanese Prime Minister Shinzo Abe is poised to cement his hold on power in an election on Sunday, ending six years of parliamentary deadlock with an expected big win in the upper house. Here are some key issues and dates to watch, to see whether Abe is using his mandate to keep campaign promises for economic reform. - SALES TAX: Abe's government says it will use April-June GDP data, due August 12, to help judge whether to proceed next April with the planned first phase of doubling the consumption tax to 10 percent over two years. ...http://news.yahoo.com/factbox-japan-pm-abe-scorecard-watch-election-023711101.htmlSat, 20 Jul 2013 22:37:11 -0400Reutersfactbox-japan-pm-abe-scorecard-watch-election-023711101Third of Britons see interest rates rising in next 12 months - poll<p><a href="http://news.yahoo.com/third-britons-see-interest-rates-rising-next-12-230537207.html"><img src="http://l3.yimg.com/bt/api/res/1.2/xoE4dUtx5oAa04JWe3wpaA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T230537Z_1_CBRE96J1S5N00_RTROPTP_2_BRITAIN-DOWNGRADE-MOODYS.JPG" width="130" height="86" alt="A bus passes the Bank of England in the City of London" align="left" title="A bus passes the Bank of England in the City of London" border="0" /></a>LONDON (Reuters) - More than a third of Britons think interest rates will rise in the next 12 months, a survey showed on Sunday, suggesting the Bank of England&#039;s first attempt to ease concern over higher rates ahead has had little effect beyond financial markets. The bank and its new governor, Mark Carney, will have to hope for more success with their next try - likely to come in more detailed form in early August - as they work to encourage consumers to spend more and spur economic growth. ...</p><br clear="all"/>http://news.yahoo.com/third-britons-see-interest-rates-rising-next-12-230537207.htmlSat, 20 Jul 2013 19:05:37 -0400Reutersthird-britons-see-interest-rates-rising-next-12-230537207<p><a href="http://news.yahoo.com/third-britons-see-interest-rates-rising-next-12-230537207.html"><img src="http://l3.yimg.com/bt/api/res/1.2/xoE4dUtx5oAa04JWe3wpaA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T230537Z_1_CBRE96J1S5N00_RTROPTP_2_BRITAIN-DOWNGRADE-MOODYS.JPG" width="130" height="86" alt="A bus passes the Bank of England in the City of London" align="left" title="A bus passes the Bank of England in the City of London" border="0" /></a>LONDON (Reuters) - More than a third of Britons think interest rates will rise in the next 12 months, a survey showed on Sunday, suggesting the Bank of England&#039;s first attempt to ease concern over higher rates ahead has had little effect beyond financial markets. The bank and its new governor, Mark Carney, will have to hope for more success with their next try - likely to come in more detailed form in early August - as they work to encourage consumers to spend more and spur economic growth. ...</p><br clear="all"/>Portugal ruling party vows to meet bailout goals after pact talks fail<p><a href="http://news.yahoo.com/portugal-ruling-party-vows-meet-bailout-goals-pact-181038107.html"><img src="http://l.yimg.com/bt/api/res/1.2/jM2z_XEIblKGJZ6ud0HQ6g--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T181038Z_1_CBRE96J1EI800_RTROPTP_2_CNEWS-US-PORTUGAL-CRISIS.JPG" width="130" height="86" alt="A political activist paints the word &quot;Lisbon&quot; on a wall at a street in Lisbon" align="left" title="A political activist paints the word &quot;Lisbon&quot; on a wall at a street in Lisbon" border="0" /></a>By Andrei Khalip LISBON (Reuters) - Portugal&#039;s ruling Social Democrats (PSD) said on Saturday their coalition government would press on with meeting the country&#039;s economic bailout goals after talks on a broader political deal sought by the president collapsed. Reigniting a three-week-old political crisis, the two centre-right coalition parties and main opposition Socialists broke off talks on Friday on a &quot;national salvation&quot; pact to ensure an EU/IMF bailout stays on track, leaving it to the president to decide how to proceed. ...</p><br clear="all"/>http://news.yahoo.com/portugal-ruling-party-vows-meet-bailout-goals-pact-181038107.htmlSat, 20 Jul 2013 14:10:38 -0400Reutersportugal-ruling-party-vows-meet-bailout-goals-pact-181038107<p><a href="http://news.yahoo.com/portugal-ruling-party-vows-meet-bailout-goals-pact-181038107.html"><img src="http://l.yimg.com/bt/api/res/1.2/jM2z_XEIblKGJZ6ud0HQ6g--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T181038Z_1_CBRE96J1EI800_RTROPTP_2_CNEWS-US-PORTUGAL-CRISIS.JPG" width="130" height="86" alt="A political activist paints the word &quot;Lisbon&quot; on a wall at a street in Lisbon" align="left" title="A political activist paints the word &quot;Lisbon&quot; on a wall at a street in Lisbon" border="0" /></a>By Andrei Khalip LISBON (Reuters) - Portugal&#039;s ruling Social Democrats (PSD) said on Saturday their coalition government would press on with meeting the country&#039;s economic bailout goals after talks on a broader political deal sought by the president collapsed. Reigniting a three-week-old political crisis, the two centre-right coalition parties and main opposition Socialists broke off talks on Friday on a &quot;national salvation&quot; pact to ensure an EU/IMF bailout stays on track, leaving it to the president to decide how to proceed. ...</p><br clear="all"/>Canada rate message in tune with G20 debate: Poloz<p><a href="http://news.yahoo.com/bocs-poloz-not-inclined-keep-rates-lower-longer-144553475.html"><img src="http://l.yimg.com/bt/api/res/1.2/SUx3Aifih31HKHtMCjqARw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T144553Z_1_CBRE96J150L00_RTROPTP_2_CBUSINESS-US-G20-CANADA-POLOZ.JPG" width="130" height="86" alt="Bank of Canada Governor Poloz takes part in a news conference upon the release of the Monetary Policy Report in Ottawa" align="left" title="Bank of Canada Governor Poloz takes part in a news conference upon the release of the Monetary Policy Report in Ottawa" border="0" /></a>By Randall Palmer MOSCOW (Reuters) - All the talk of economic weakness during the G20 talks in Moscow does not make the Bank of Canada more inclined to keep rates low for longer than it had otherwise planned, Governor Stephen Poloz said on Saturday. Poloz also came to the defense of the U.S. Federal Reserve, stating that Chairman Ben Bernanke&#039;s description of plans eventually to taper its bond buying was carefully communicated, as asked for in Saturday&#039;s communiqu? of finance ministers and central bankers of the Group of 20 leading economies. ...</p><br clear="all"/>http://news.yahoo.com/bocs-poloz-not-inclined-keep-rates-lower-longer-144553475.htmlSat, 20 Jul 2013 12:16:31 -0400Reutersbocs-poloz-not-inclined-keep-rates-lower-longer-144553475<p><a href="http://news.yahoo.com/bocs-poloz-not-inclined-keep-rates-lower-longer-144553475.html"><img src="http://l.yimg.com/bt/api/res/1.2/SUx3Aifih31HKHtMCjqARw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T144553Z_1_CBRE96J150L00_RTROPTP_2_CBUSINESS-US-G20-CANADA-POLOZ.JPG" width="130" height="86" alt="Bank of Canada Governor Poloz takes part in a news conference upon the release of the Monetary Policy Report in Ottawa" align="left" title="Bank of Canada Governor Poloz takes part in a news conference upon the release of the Monetary Policy Report in Ottawa" border="0" /></a>By Randall Palmer MOSCOW (Reuters) - All the talk of economic weakness during the G20 talks in Moscow does not make the Bank of Canada more inclined to keep rates low for longer than it had otherwise planned, Governor Stephen Poloz said on Saturday. Poloz also came to the defense of the U.S. Federal Reserve, stating that Chairman Ben Bernanke&#039;s description of plans eventually to taper its bond buying was carefully communicated, as asked for in Saturday&#039;s communiqu? of finance ministers and central bankers of the Group of 20 leading economies. ...</p><br clear="all"/>G20 finance ministers aim for more growth<p><a href="http://news.yahoo.com/g20-finance-ministers-aim-more-growth-141419854.html"><img src="http://l2.yimg.com/bt/api/res/1.2/5nrR9JO_ogW4O4n76LvSlg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/8323202f45061a18380f6a7067004932.jpg" width="130" height="86" alt="Finance ministers and central bank chiefs pose for a group photo following a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013. Stashing profits offshore may soon get tougher for companies, thanks to an ambitious plan released Friday by the finance chiefs of leading world economies aimed at forcing multinationals to pay more taxes. (AP Photo/Alexander Zemlianichenko)" align="left" title="Finance ministers and central bank chiefs pose for a group photo following a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013. Stashing profits offshore may soon get tougher for companies, thanks to an ambitious plan released Friday by the finance chiefs of leading world economies aimed at forcing multinationals to pay more taxes. (AP Photo/Alexander Zemlianichenko)" border="0" /></a>MOSCOW (AP) ? The Group of 20&#039;s finance ministers said Saturday their countries consider strengthening economic growth and creating jobs to be top priorities.</p><br clear="all"/>http://news.yahoo.com/g20-finance-ministers-aim-more-growth-141419854.htmlSat, 20 Jul 2013 11:57:17 -0400Associated Pressg20-finance-ministers-aim-more-growth-141419854<p><a href="http://news.yahoo.com/g20-finance-ministers-aim-more-growth-141419854.html"><img src="http://l2.yimg.com/bt/api/res/1.2/5nrR9JO_ogW4O4n76LvSlg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/8323202f45061a18380f6a7067004932.jpg" width="130" height="86" alt="Finance ministers and central bank chiefs pose for a group photo following a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013. Stashing profits offshore may soon get tougher for companies, thanks to an ambitious plan released Friday by the finance chiefs of leading world economies aimed at forcing multinationals to pay more taxes. (AP Photo/Alexander Zemlianichenko)" align="left" title="Finance ministers and central bank chiefs pose for a group photo following a meeting of the Group of 20 finance ministers in Moscow, Russia, Saturday, July 20, 2013. Stashing profits offshore may soon get tougher for companies, thanks to an ambitious plan released Friday by the finance chiefs of leading world economies aimed at forcing multinationals to pay more taxes. (AP Photo/Alexander Zemlianichenko)" border="0" /></a>MOSCOW (AP) ? The Group of 20&#039;s finance ministers said Saturday their countries consider strengthening economic growth and creating jobs to be top priorities.</p><br clear="all"/>G20 puts growth before austerity, vows to tread carefully<p><a href="http://news.yahoo.com/g20-puts-growth-austerity-seeks-calm-markets-065215056.html"><img src="http://l2.yimg.com/bt/api/res/1.2/XcfdHyHd.YVZjbx1NABM4A--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T105405Z_2_CBRE96J0J3H00_RTROPTP_2_G20-RUSSIA.JPG" width="130" height="86" alt="Finance ministers from Germany, Britain, Russia, France and OECD secretary-general attend a news conference, part of the G20 finance ministers and central bank governors&#039; meeting, in Moscow" align="left" title="Finance ministers from Germany, Britain, Russia, France and OECD secretary-general attend a news conference, part of the G20 finance ministers and central bank governors&#039; meeting, in Moscow" border="0" /></a>By Lidia Kelly and Jan Strupczewski MOSCOW (Reuters) - The Group of 20 nations pledged on Saturday to put growth before austerity, seeking to revive a global economy that &quot;remains too weak&quot; and adjusting stimulus policies with care so that recovery is not derailed by volatile financial markets. Finance ministers and central bankers signed off on a communiqu? that acknowledged the benefits of expansive policies in the United States and Japan but highlighted the recession in the euro zone and a slowdown in emerging markets. ...</p><br clear="all"/>http://news.yahoo.com/g20-puts-growth-austerity-seeks-calm-markets-065215056.htmlSat, 20 Jul 2013 10:23:58 -0400Reutersg20-puts-growth-austerity-seeks-calm-markets-065215056<p><a href="http://news.yahoo.com/g20-puts-growth-austerity-seeks-calm-markets-065215056.html"><img src="http://l2.yimg.com/bt/api/res/1.2/XcfdHyHd.YVZjbx1NABM4A--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T105405Z_2_CBRE96J0J3H00_RTROPTP_2_G20-RUSSIA.JPG" width="130" height="86" alt="Finance ministers from Germany, Britain, Russia, France and OECD secretary-general attend a news conference, part of the G20 finance ministers and central bank governors&#039; meeting, in Moscow" align="left" title="Finance ministers from Germany, Britain, Russia, France and OECD secretary-general attend a news conference, part of the G20 finance ministers and central bank governors&#039; meeting, in Moscow" border="0" /></a>By Lidia Kelly and Jan Strupczewski MOSCOW (Reuters) - The Group of 20 nations pledged on Saturday to put growth before austerity, seeking to revive a global economy that &quot;remains too weak&quot; and adjusting stimulus policies with care so that recovery is not derailed by volatile financial markets. Finance ministers and central bankers signed off on a communiqu? that acknowledged the benefits of expansive policies in the United States and Japan but highlighted the recession in the euro zone and a slowdown in emerging markets. ...</p><br clear="all"/>Analysis: Detroit filing sends benefits warning to other cities<p><a href="http://news.yahoo.com/analysis-detroit-filing-sends-benefits-warning-other-cities-121137056.html"><img src="http://l.yimg.com/bt/api/res/1.2/IQBulQFKuXwpH6_qYlZiUA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T121137Z_1_CBRE96J0XVS00_RTROPTP_2_CNEWS-US-USA-DETROIT-CITIES-ANALYSIS.JPG" width="130" height="86" alt="Detroit Emergency Manager Orr waits to address the media during a news conference about filing bankruptcy for the city of Detroit in Detroit" align="left" title="Detroit Emergency Manager Orr waits to address the media during a news conference about filing bankruptcy for the city of Detroit in Detroit" border="0" /></a>By Tiziana Barghini NEW YORK (Reuters) - Many U.S. cities have a much better economic outlook than struggling Detroit, but the Motor City&#039;s bankruptcy filing on Thursday should still set off alarm bells elsewhere as the cost of paying retirement benefits swells. In recent decades, many municipalities have provided their workers with generous retirement benefits, both pensions and health coverage, often in lieu of pay increases. But this has created an unsustainable future burden for budgets that has only been exacerbated by the loss of real estate and other tax revenue in the financial crisis. ...</p><br clear="all"/>http://news.yahoo.com/analysis-detroit-filing-sends-benefits-warning-other-cities-121137056.htmlSat, 20 Jul 2013 10:03:50 -0400Reutersanalysis-detroit-filing-sends-benefits-warning-other-cities-121137056<p><a href="http://news.yahoo.com/analysis-detroit-filing-sends-benefits-warning-other-cities-121137056.html"><img src="http://l.yimg.com/bt/api/res/1.2/IQBulQFKuXwpH6_qYlZiUA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-20T121137Z_1_CBRE96J0XVS00_RTROPTP_2_CNEWS-US-USA-DETROIT-CITIES-ANALYSIS.JPG" width="130" height="86" alt="Detroit Emergency Manager Orr waits to address the media during a news conference about filing bankruptcy for the city of Detroit in Detroit" align="left" title="Detroit Emergency Manager Orr waits to address the media during a news conference about filing bankruptcy for the city of Detroit in Detroit" border="0" /></a>By Tiziana Barghini NEW YORK (Reuters) - Many U.S. cities have a much better economic outlook than struggling Detroit, but the Motor City&#039;s bankruptcy filing on Thursday should still set off alarm bells elsewhere as the cost of paying retirement benefits swells. In recent decades, many municipalities have provided their workers with generous retirement benefits, both pensions and health coverage, often in lieu of pay increases. But this has created an unsustainable future burden for budgets that has only been exacerbated by the loss of real estate and other tax revenue in the financial crisis. ...</p><br clear="all"/>GE shares rise to post-crisis high on US outlook<p><a href="http://news.yahoo.com/ge-shares-rise-post-crisis-high-us-outlook-162844693.html"><img src="http://l.yimg.com/bt/api/res/1.2/akdcsUKqROHmZz3BqZeK.w--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/f1894b9c26450318380f6a7067007800.jpg" width="130" height="86" alt="FILE - In this Dec. 2, 2008 file photo, a General Electric (GE) sign is seen on display at Western Appliance store in Mountain View, Calif. General Electric is reporting a slight gain in net income in the second quarter and said Friday July 19, 2013 U.S. operations are picking up steam. (AP Photo/Paul Sakuma, file)" align="left" title="FILE - In this Dec. 2, 2008 file photo, a General Electric (GE) sign is seen on display at Western Appliance store in Mountain View, Calif. General Electric is reporting a slight gain in net income in the second quarter and said Friday July 19, 2013 U.S. operations are picking up steam. (AP Photo/Paul Sakuma, file)" border="0" /></a>NEW YORK (AP) ? An improving outlook for the U.S. economy and signs of stabilization in Europe sent General Electric shares to their highest level since 2008 despite modest quarterly results.</p><br clear="all"/>http://news.yahoo.com/ge-shares-rise-post-crisis-high-us-outlook-162844693.htmlFri, 19 Jul 2013 18:23:06 -0400Associated Pressge-shares-rise-post-crisis-high-us-outlook-162844693<p><a href="http://news.yahoo.com/ge-shares-rise-post-crisis-high-us-outlook-162844693.html"><img src="http://l.yimg.com/bt/api/res/1.2/akdcsUKqROHmZz3BqZeK.w--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/f1894b9c26450318380f6a7067007800.jpg" width="130" height="86" alt="FILE - In this Dec. 2, 2008 file photo, a General Electric (GE) sign is seen on display at Western Appliance store in Mountain View, Calif. General Electric is reporting a slight gain in net income in the second quarter and said Friday July 19, 2013 U.S. operations are picking up steam. (AP Photo/Paul Sakuma, file)" align="left" title="FILE - In this Dec. 2, 2008 file photo, a General Electric (GE) sign is seen on display at Western Appliance store in Mountain View, Calif. General Electric is reporting a slight gain in net income in the second quarter and said Friday July 19, 2013 U.S. operations are picking up steam. (AP Photo/Paul Sakuma, file)" border="0" /></a>NEW YORK (AP) ? An improving outlook for the U.S. economy and signs of stabilization in Europe sent General Electric shares to their highest level since 2008 despite modest quarterly results.</p><br clear="all"/>Column: Will China's slowing growth lead to unrest? - Ian Bremmer<p><a href="http://news.yahoo.com/column-chinas-slowing-growth-lead-unrest-ian-bremmer-214710919.html"><img src="http://l.yimg.com/bt/api/res/1.2/Gc9nK41EojSx3dlWkYlGoA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T214710Z_1_CBRE96I1OIP00_RTROPTP_2_CHINA-ECONOMY-JOBS.JPG" width="130" height="86" alt="A job seeker looks at a job advertisement board at a Beijing talent service centre" align="left" title="A job seeker looks at a job advertisement board at a Beijing talent service centre" border="0" /></a>By Ian Bremmer (Reuters) - Recently, it seems no developing country is safe from sudden, unexpected protests. In Brazil and Turkey, empowered middle classes pushed back against perceived governmental injustice. Protests erupted, and leaders&#039; approval ratings dropped precipitously. In Egypt, the economic picture was as ugly as the political one, and the military&#039;s ouster of President Mursi has fomented conflict and instability. China may look like a candidate for the type of protests currently sweeping the developing world. ...</p><br clear="all"/>http://news.yahoo.com/column-chinas-slowing-growth-lead-unrest-ian-bremmer-214710919.htmlFri, 19 Jul 2013 17:47:10 -0400Reuterscolumn-chinas-slowing-growth-lead-unrest-ian-bremmer-214710919<p><a href="http://news.yahoo.com/column-chinas-slowing-growth-lead-unrest-ian-bremmer-214710919.html"><img src="http://l.yimg.com/bt/api/res/1.2/Gc9nK41EojSx3dlWkYlGoA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T214710Z_1_CBRE96I1OIP00_RTROPTP_2_CHINA-ECONOMY-JOBS.JPG" width="130" height="86" alt="A job seeker looks at a job advertisement board at a Beijing talent service centre" align="left" title="A job seeker looks at a job advertisement board at a Beijing talent service centre" border="0" /></a>By Ian Bremmer (Reuters) - Recently, it seems no developing country is safe from sudden, unexpected protests. In Brazil and Turkey, empowered middle classes pushed back against perceived governmental injustice. Protests erupted, and leaders&#039; approval ratings dropped precipitously. In Egypt, the economic picture was as ugly as the political one, and the military&#039;s ouster of President Mursi has fomented conflict and instability. China may look like a candidate for the type of protests currently sweeping the developing world. ...</p><br clear="all"/>World powers see Iran's Rouhani as chance for nuclear deal<p><a href="http://news.yahoo.com/world-powers-see-irans-rouhani-chance-nuclear-deal-180030373.html"><img src="http://l2.yimg.com/bt/api/res/1.2/MjW3OhH4Z6KW0uhAZeEW7g--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T205117Z_2_CBRE96I1E1300_RTROPTP_2_IRAN-ELECTION.JPG" width="130" height="86" alt="Iranian President-elect Hassan Rohani gestures to the media during a news conference in Tehran" align="left" title="Iranian President-elect Hassan Rohani gestures to the media during a news conference in Tehran" border="0" /></a>By Justyna Pawlak BRUSSELS (Reuters) - Six world powers see a chance that Iran&#039;s relatively moderate new president, beset by sanctions and worried about unrest in the region trickling home, may be more amenable to compromise in a long-standing nuclear dispute, a senior Western diplomat said. The powers - Russia, China, France, Britain, Germany and the United States - are hoping years of economic pressure will finally force Iran to scale back its nuclear work, which they suspect aims at allowing Tehran to make bombs. ...</p><br clear="all"/>http://news.yahoo.com/world-powers-see-irans-rouhani-chance-nuclear-deal-180030373.htmlFri, 19 Jul 2013 16:51:17 -0400Reutersworld-powers-see-irans-rouhani-chance-nuclear-deal-180030373<p><a href="http://news.yahoo.com/world-powers-see-irans-rouhani-chance-nuclear-deal-180030373.html"><img src="http://l2.yimg.com/bt/api/res/1.2/MjW3OhH4Z6KW0uhAZeEW7g--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T205117Z_2_CBRE96I1E1300_RTROPTP_2_IRAN-ELECTION.JPG" width="130" height="86" alt="Iranian President-elect Hassan Rohani gestures to the media during a news conference in Tehran" align="left" title="Iranian President-elect Hassan Rohani gestures to the media during a news conference in Tehran" border="0" /></a>By Justyna Pawlak BRUSSELS (Reuters) - Six world powers see a chance that Iran&#039;s relatively moderate new president, beset by sanctions and worried about unrest in the region trickling home, may be more amenable to compromise in a long-standing nuclear dispute, a senior Western diplomat said. The powers - Russia, China, France, Britain, Germany and the United States - are hoping years of economic pressure will finally force Iran to scale back its nuclear work, which they suspect aims at allowing Tehran to make bombs. ...</p><br clear="all"/>Retooling capitalism for the social good: Chrystia FreelandBy Chrystia Freeland NEW YORK (Reuters) - When the financial crisis threatened to topple the global economy, my Russian friends took great delight in calling me from Moscow and sharing the bittersweet response that was making the rounds of a city that always laughs loudest when things go wrong: Everything Marx told us about communism was false, the gag went, but everything he told us about capitalism was true. In 2008, it was easy to see their point. The lopsided recovery hasn't brought much comfort, either. ...http://news.yahoo.com/retooling-capitalism-social-good-chrystia-freeland-202003345.htmlFri, 19 Jul 2013 16:20:03 -0400Reutersretooling-capitalism-social-good-chrystia-freeland-202003345GE order book surges; may bode well for global manufacturing<p><a href="http://news.yahoo.com/general-electric-second-quarter-profit-falls-105950403.html"><img src="http://l2.yimg.com/bt/api/res/1.2/K.Gw8BWSbWxJna1pmZclqw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T185426Z_1_CBRE96I0UK800_RTROPTP_2_CZECH.JPG" width="130" height="86" alt="The logo of the GE Money Bank is seen behind a traffic light in Prague" align="left" title="The logo of the GE Money Bank is seen behind a traffic light in Prague" border="0" /></a>By Ernest Scheyder (Reuters) - General Electric Co on Friday unveiled a surprise jump in its backlog of orders for dishwashers, X-ray machines and scores of other industrial products, boosting the conglomerate&#039;s shares and stoking hopes for gains in manufacturing around the world. GE&#039;s presence in most parts of the global economy, including energy, finance, manufacturing and transportation, makes it a harbinger of macroeconomic trends. &quot;Many customers have moved from the &#039;doing your homework&#039; stage toward moving pen to paper and placing orders,&quot; said Morningstar analyst Daniel Holland. ...</p><br clear="all"/>http://news.yahoo.com/general-electric-second-quarter-profit-falls-105950403.htmlFri, 19 Jul 2013 15:32:37 -0400Reutersgeneral-electric-second-quarter-profit-falls-105950403<p><a href="http://news.yahoo.com/general-electric-second-quarter-profit-falls-105950403.html"><img src="http://l2.yimg.com/bt/api/res/1.2/K.Gw8BWSbWxJna1pmZclqw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T185426Z_1_CBRE96I0UK800_RTROPTP_2_CZECH.JPG" width="130" height="86" alt="The logo of the GE Money Bank is seen behind a traffic light in Prague" align="left" title="The logo of the GE Money Bank is seen behind a traffic light in Prague" border="0" /></a>By Ernest Scheyder (Reuters) - General Electric Co on Friday unveiled a surprise jump in its backlog of orders for dishwashers, X-ray machines and scores of other industrial products, boosting the conglomerate&#039;s shares and stoking hopes for gains in manufacturing around the world. GE&#039;s presence in most parts of the global economy, including energy, finance, manufacturing and transportation, makes it a harbinger of macroeconomic trends. &quot;Many customers have moved from the &#039;doing your homework&#039; stage toward moving pen to paper and placing orders,&quot; said Morningstar analyst Daniel Holland. ...</p><br clear="all"/>Greece's Piraeus bank aims to cut around 1,500 jobs: sourceATHENS (Reuters) - Greece's second-biggest bank, Piraeus , has launched a voluntary redundancy scheme aimed at cutting around 1,500 jobs in a drive to cut costs after taking over assets from smaller rivals, a source at the bank told Reuters on Friday. "The continuing tough economic conditions ... call for the bank to adjust its operations to the situation," the bank said in a document seen by Reuters. The document also said the voluntary redundancy scheme would be open until September 2. Piraeus, which employs about 18,000 people, declined to comment. ...http://news.yahoo.com/greeces-piraeus-bank-aims-cut-around-1-500-171813438.htmlFri, 19 Jul 2013 13:18:13 -0400Reutersgreeces-piraeus-bank-aims-cut-around-1-500-171813438Biden to praise benefits of 'rules of the road' in Asia visit<p><a href="http://news.yahoo.com/biden-praise-benefits-rules-road-asia-visit-170100973.html"><img src="http://l2.yimg.com/bt/api/res/1.2/g59411wa9Ag8RiYMjgNJWQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T170100Z_1_CBRE96I1B9W00_RTROPTP_2_CNEWS-US-USA-ASIA-BIDEN.JPG" width="130" height="86" alt="Vice President Joe Biden speaks next to Chinese Vice Premier Wang Yang at the State Department in Washington" align="left" title="Vice President Joe Biden speaks next to Chinese Vice Premier Wang Yang at the State Department in Washington" border="0" /></a>By Roberta Rampton WASHINGTON (Reuters) - Vice President Joe Biden will press India to do more to open up trade and protect intellectual property during a trip to the Asia-Pacific region next week that will also highlight U.S. concern about aggressive Chinese navy patrols in the oil-rich South China Sea. The trip comes as Asian economies struggle to adjust to a slowdown in growth, a situation Biden said could improve if countries including India and China pursue economic reforms. ...</p><br clear="all"/>http://news.yahoo.com/biden-praise-benefits-rules-road-asia-visit-170100973.htmlFri, 19 Jul 2013 13:01:00 -0400Reutersbiden-praise-benefits-rules-road-asia-visit-170100973<p><a href="http://news.yahoo.com/biden-praise-benefits-rules-road-asia-visit-170100973.html"><img src="http://l2.yimg.com/bt/api/res/1.2/g59411wa9Ag8RiYMjgNJWQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T170100Z_1_CBRE96I1B9W00_RTROPTP_2_CNEWS-US-USA-ASIA-BIDEN.JPG" width="130" height="86" alt="Vice President Joe Biden speaks next to Chinese Vice Premier Wang Yang at the State Department in Washington" align="left" title="Vice President Joe Biden speaks next to Chinese Vice Premier Wang Yang at the State Department in Washington" border="0" /></a>By Roberta Rampton WASHINGTON (Reuters) - Vice President Joe Biden will press India to do more to open up trade and protect intellectual property during a trip to the Asia-Pacific region next week that will also highlight U.S. concern about aggressive Chinese navy patrols in the oil-rich South China Sea. The trip comes as Asian economies struggle to adjust to a slowdown in growth, a situation Biden said could improve if countries including India and China pursue economic reforms. ...</p><br clear="all"/>Long-suffering Detroit finally turns to bankruptcy<p><a href="http://news.yahoo.com/long-suffering-detroit-finally-turns-bankruptcy-065844742.html"><img src="http://l3.yimg.com/bt/api/res/1.2/O4QQnO8mMef8HiVK1KpUog--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/ee4dd89c24a6fb18370f6a7067001045.jpg" width="130" height="86" alt="The sun sets on Detroit, Thursday, July 18, 2013. State-appointed emergency manager Kevyn Orr asked a federal judge permission to place Detroit into Chapter 9 bankruptcy protection Thursday. (AP Photo/Paul Sancya)" align="left" title="The sun sets on Detroit, Thursday, July 18, 2013. State-appointed emergency manager Kevyn Orr asked a federal judge permission to place Detroit into Chapter 9 bankruptcy protection Thursday. (AP Photo/Paul Sancya)" border="0" /></a>DETROIT (AP) ? At the height of its industrial power, Detroit was an irrepressible engine of the American economy, offering well-paying jobs, a gateway to the middle class for generations of autoworkers and affordable vehicles that put the world on wheels.</p><br clear="all"/>http://news.yahoo.com/long-suffering-detroit-finally-turns-bankruptcy-065844742.htmlFri, 19 Jul 2013 11:36:11 -0400Associated Presslong-suffering-detroit-finally-turns-bankruptcy-065844742<p><a href="http://news.yahoo.com/long-suffering-detroit-finally-turns-bankruptcy-065844742.html"><img src="http://l3.yimg.com/bt/api/res/1.2/O4QQnO8mMef8HiVK1KpUog--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/ee4dd89c24a6fb18370f6a7067001045.jpg" width="130" height="86" alt="The sun sets on Detroit, Thursday, July 18, 2013. State-appointed emergency manager Kevyn Orr asked a federal judge permission to place Detroit into Chapter 9 bankruptcy protection Thursday. (AP Photo/Paul Sancya)" align="left" title="The sun sets on Detroit, Thursday, July 18, 2013. State-appointed emergency manager Kevyn Orr asked a federal judge permission to place Detroit into Chapter 9 bankruptcy protection Thursday. (AP Photo/Paul Sancya)" border="0" /></a>DETROIT (AP) ? At the height of its industrial power, Detroit was an irrepressible engine of the American economy, offering well-paying jobs, a gateway to the middle class for generations of autoworkers and affordable vehicles that put the world on wheels.</p><br clear="all"/>Whirlpool profit surges as sales rebound, shares jump<p><a href="http://news.yahoo.com/whirlpool-profit-surges-sales-rebound-shares-jump-143230695.html"><img src="http://l1.yimg.com/bt/api/res/1.2/rUo8vBlcRvXRbQa2PkyKwg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T143836Z_1_CBRE96I14OI00_RTROPTP_2_ROUTETORECOVERY.JPG" width="130" height="86" alt="A worker walks out of the Whirlpool plant at the end of his shift in Evansville" align="left" title="A worker walks out of the Whirlpool plant at the end of his shift in Evansville" border="0" /></a>By James B. Kelleher CHICAGO (Reuters) - Whirlpool Corp posted a stronger-than-expected jump in quarterly profit and raised its full-year outlook on Friday, citing sales gains in all of its markets, including Europe and North America. The results suggested U.S. and euro zone consumer confidence may be turning the corner after being battered by debt crises and austerity measures in Europe and a weak economic recovery and high unemployment in the United States. Whirlpool shares jumped 6.1 percent at $126.63 in early trading. ...</p><br clear="all"/>http://news.yahoo.com/whirlpool-profit-surges-sales-rebound-shares-jump-143230695.htmlFri, 19 Jul 2013 10:38:36 -0400Reuterswhirlpool-profit-surges-sales-rebound-shares-jump-143230695<p><a href="http://news.yahoo.com/whirlpool-profit-surges-sales-rebound-shares-jump-143230695.html"><img src="http://l1.yimg.com/bt/api/res/1.2/rUo8vBlcRvXRbQa2PkyKwg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T143836Z_1_CBRE96I14OI00_RTROPTP_2_ROUTETORECOVERY.JPG" width="130" height="86" alt="A worker walks out of the Whirlpool plant at the end of his shift in Evansville" align="left" title="A worker walks out of the Whirlpool plant at the end of his shift in Evansville" border="0" /></a>By James B. Kelleher CHICAGO (Reuters) - Whirlpool Corp posted a stronger-than-expected jump in quarterly profit and raised its full-year outlook on Friday, citing sales gains in all of its markets, including Europe and North America. The results suggested U.S. and euro zone consumer confidence may be turning the corner after being battered by debt crises and austerity measures in Europe and a weak economic recovery and high unemployment in the United States. Whirlpool shares jumped 6.1 percent at $126.63 in early trading. ...</p><br clear="all"/>Draft G20 finance ministers communiqueMOSCOW (Reuters) - Following are key sections of a draft communique prepared for G20 finance ministers and central bankers meeting in Moscow, which was obtained by Reuters. 1. We the G20 Finance Ministers and Central Bank Governors, met to discuss the current global economic developments and prepare for our Leaders' summit in September. 2. Since we last met, the global outlook has somewhat weakened on account of slower growth in some large emerging market economies and the recession in the euro area. ...http://news.yahoo.com/draft-g20-finance-ministers-communique-141831630.htmlFri, 19 Jul 2013 10:18:31 -0400Reutersdraft-g20-finance-ministers-communique-141831630China ends controls on bank lending rates<p><a href="http://news.yahoo.com/china-ends-controls-bank-lending-rates-121551027.html"><img src="http://l.yimg.com/bt/api/res/1.2/pwT_XqwvZ2xPLXIVqrenHw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/8083d293267e0418380f6a706700d99c.jpg" width="130" height="86" alt="FILE - In this Friday, June 7, 2013 file photo, an investor reacts as she looks at the stock price monitor at a private securities company in Shanghai, China. China said Friday it is ending controls on bank lending rates in a move toward creating a market-oriented financial system to support economic growth. (AP Photo)" align="left" title="FILE - In this Friday, June 7, 2013 file photo, an investor reacts as she looks at the stock price monitor at a private securities company in Shanghai, China. China said Friday it is ending controls on bank lending rates in a move toward creating a market-oriented financial system to support economic growth. (AP Photo)" border="0" /></a>BEIJING (AP) ? China said Friday it is ending controls on bank lending rates in a move toward creating a market-oriented financial system to support economic growth.</p><br clear="all"/>http://news.yahoo.com/china-ends-controls-bank-lending-rates-121551027.htmlFri, 19 Jul 2013 08:58:45 -0400Associated Presschina-ends-controls-bank-lending-rates-121551027<p><a href="http://news.yahoo.com/china-ends-controls-bank-lending-rates-121551027.html"><img src="http://l.yimg.com/bt/api/res/1.2/pwT_XqwvZ2xPLXIVqrenHw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/8083d293267e0418380f6a706700d99c.jpg" width="130" height="86" alt="FILE - In this Friday, June 7, 2013 file photo, an investor reacts as she looks at the stock price monitor at a private securities company in Shanghai, China. China said Friday it is ending controls on bank lending rates in a move toward creating a market-oriented financial system to support economic growth. (AP Photo)" align="left" title="FILE - In this Friday, June 7, 2013 file photo, an investor reacts as she looks at the stock price monitor at a private securities company in Shanghai, China. China said Friday it is ending controls on bank lending rates in a move toward creating a market-oriented financial system to support economic growth. (AP Photo)" border="0" /></a>BEIJING (AP) ? China said Friday it is ending controls on bank lending rates in a move toward creating a market-oriented financial system to support economic growth.</p><br clear="all"/>Tourists return to Greece's summer resorts, in boost for economy<p><a href="http://news.yahoo.com/tourists-return-greeces-summer-resorts-boost-economy-124950459.html"><img src="http://l1.yimg.com/bt/api/res/1.2/X7QCzsLGURQfoQ583R4Nbg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T124950Z_1_CBRE96I0ZN800_RTROPTP_2_GREECE.JPG" width="130" height="86" alt="Tourists take photographs at the top of the Acropolis hill in Athens" align="left" title="Tourists take photographs at the top of the Acropolis hill in Athens" border="0" /></a>By Renee Maltezou ATHENS (Reuters) - Foreign tourists are returning to Greece&#039;s sun-drenched islands and ancient temples, central bank data showed on Friday, boosting hopes that the key sector may help the crisis-hit country pull itself out of a severe economic recession. Tourism figures have clearly benefited from comparison to last year, when speculation about Greece being forced out of the euro and fears of social unrest had scared away many visitors before the peak summer holiday season. But Greece&#039;s tourist industry is taking heart from data showing a 38. ...</p><br clear="all"/>http://news.yahoo.com/tourists-return-greeces-summer-resorts-boost-economy-124950459.htmlFri, 19 Jul 2013 08:49:50 -0400Reuterstourists-return-greeces-summer-resorts-boost-economy-124950459<p><a href="http://news.yahoo.com/tourists-return-greeces-summer-resorts-boost-economy-124950459.html"><img src="http://l1.yimg.com/bt/api/res/1.2/X7QCzsLGURQfoQ583R4Nbg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T124950Z_1_CBRE96I0ZN800_RTROPTP_2_GREECE.JPG" width="130" height="86" alt="Tourists take photographs at the top of the Acropolis hill in Athens" align="left" title="Tourists take photographs at the top of the Acropolis hill in Athens" border="0" /></a>By Renee Maltezou ATHENS (Reuters) - Foreign tourists are returning to Greece&#039;s sun-drenched islands and ancient temples, central bank data showed on Friday, boosting hopes that the key sector may help the crisis-hit country pull itself out of a severe economic recession. Tourism figures have clearly benefited from comparison to last year, when speculation about Greece being forced out of the euro and fears of social unrest had scared away many visitors before the peak summer holiday season. But Greece&#039;s tourist industry is taking heart from data showing a 38. ...</p><br clear="all"/>Oil above $108 as US data points to faster growthFurther signs of an improvement in the U.S. economy helped the price of oil to push above $108 a barrel on Friday and to the highest since March last year.http://news.yahoo.com/oil-above-108-us-data-points-faster-growth-060518046.htmlFri, 19 Jul 2013 08:13:31 -0400Associated Pressoil-above-108-us-data-points-faster-growth-060518046G20 labour, finance ministers vow support on jobs<p><a href="http://news.yahoo.com/g20-labour-finance-ministers-vow-support-jobs-115301146.html"><img src="http://l.yimg.com/bt/api/res/1.2/IqYeD_ULMJ.da6YhwS1Llg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_ZA/News/Reuters/2013-07-19T115301Z_1_AJOE96I0X0G00_RTROPTP_2_OZABS-G20-RUSSIA-JOBS-20130719.JPG" width="130" height="86" alt="(Blank Headline Received)" align="left" title="(Blank Headline Received)" border="0" /></a>MOSCOW (Reuters) - Labour and finance ministers from the world&#039;s 20 biggest developing and developed economies vowed on Friday to conduct policies that will help job creation and investment by the private sector to spur global growth. The joint meeting came as Europe in particular has struggled to contain a rise in unemployment to an 11 percent rate, while the United States has recovered faster from the global economic crisis to bring jobless queues below 8 percent. ...</p><br clear="all"/>http://news.yahoo.com/g20-labour-finance-ministers-vow-support-jobs-115301146.htmlFri, 19 Jul 2013 07:53:01 -0400Reutersg20-labour-finance-ministers-vow-support-jobs-115301146<p><a href="http://news.yahoo.com/g20-labour-finance-ministers-vow-support-jobs-115301146.html"><img src="http://l.yimg.com/bt/api/res/1.2/IqYeD_ULMJ.da6YhwS1Llg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_ZA/News/Reuters/2013-07-19T115301Z_1_AJOE96I0X0G00_RTROPTP_2_OZABS-G20-RUSSIA-JOBS-20130719.JPG" width="130" height="86" alt="(Blank Headline Received)" align="left" title="(Blank Headline Received)" border="0" /></a>MOSCOW (Reuters) - Labour and finance ministers from the world&#039;s 20 biggest developing and developed economies vowed on Friday to conduct policies that will help job creation and investment by the private sector to spur global growth. The joint meeting came as Europe in particular has struggled to contain a rise in unemployment to an 11 percent rate, while the United States has recovered faster from the global economic crisis to bring jobless queues below 8 percent. ...</p><br clear="all"/>Ugandan shilling inches up, may level off next weekBy Elias Biryabarema KAMPALA (Reuters) - The Ugandan shilling inched up on Friday but was seen holding steady next week amid low demand. At 0841 GMT commercial banks quoted the currency of east Africa's third-largest economy at 2,580/2,590, stronger than Thursday's close of 2,585/2,595. "Next week I reckon with demand on the corporate side still weak and shilling supply also a bit tight we could see some further gains or range-bound trading," said David Bagambe, trader at Diamond Trust Bank. ...http://news.yahoo.com/ugandan-shilling-inches-may-level-off-next-week-112732172.htmlFri, 19 Jul 2013 07:27:32 -0400Reutersugandan-shilling-inches-may-level-off-next-week-112732172G20 backs fundamental reform of corporate taxation<p><a href="http://news.yahoo.com/g20-back-fundamental-reform-corporate-taxation-080251802.html"><img src="http://l1.yimg.com/bt/api/res/1.2/hlDFSAStupl3WE2KQzLGOw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T103019Z_3_CBRE96I0MDL00_RTROPTP_2_G20-PREVIEW.JPG" width="130" height="86" alt="A general view is seen of the Manezh Exhibition Center, venue for this week&#039;s meeting of G20 Finance Ministers, in Moscow" align="left" title="A general view is seen of the Manezh Exhibition Center, venue for this week&#039;s meeting of G20 Finance Ministers, in Moscow" border="0" /></a>By Tom Bergin and Maya Dyakina LONDON/MOSCOW (Reuters) - The G20 backed a &quot;fundamental&quot; rethink of the rules on taxing multinational corporations on Friday, taking aim at loopholes used by companies such as Apple and Google to avoid billions of dollars in taxes. The group of leading economies released an action plan drawn up by the Organisation for Economic Co-operation and Development (OECD) that said the existing system didn&#039;t work, especially when it came to taxing companies that trade online. ...</p><br clear="all"/>http://news.yahoo.com/g20-back-fundamental-reform-corporate-taxation-080251802.htmlFri, 19 Jul 2013 06:30:19 -0400Reutersg20-back-fundamental-reform-corporate-taxation-080251802<p><a href="http://news.yahoo.com/g20-back-fundamental-reform-corporate-taxation-080251802.html"><img src="http://l1.yimg.com/bt/api/res/1.2/hlDFSAStupl3WE2KQzLGOw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-19T103019Z_3_CBRE96I0MDL00_RTROPTP_2_G20-PREVIEW.JPG" width="130" height="86" alt="A general view is seen of the Manezh Exhibition Center, venue for this week&#039;s meeting of G20 Finance Ministers, in Moscow" align="left" title="A general view is seen of the Manezh Exhibition Center, venue for this week&#039;s meeting of G20 Finance Ministers, in Moscow" border="0" /></a>By Tom Bergin and Maya Dyakina LONDON/MOSCOW (Reuters) - The G20 backed a &quot;fundamental&quot; rethink of the rules on taxing multinational corporations on Friday, taking aim at loopholes used by companies such as Apple and Google to avoid billions of dollars in taxes. The group of leading economies released an action plan drawn up by the Organisation for Economic Co-operation and Development (OECD) that said the existing system didn&#039;t work, especially when it came to taxing companies that trade online. ...</p><br clear="all"/>Tech earnings dent world stock marketsMANILA, Philippines (AP) ? Disappointing earnings from two U.S. technology giants sent world stock markets lower Friday while doubts about growth prospects for China and Japan offset better U.S. economic news.http://news.yahoo.com/tech-earnings-dent-world-stock-markets-091307483.htmlFri, 19 Jul 2013 05:13:07 -0400Associated Presstech-earnings-dent-world-stock-markets-091307483

Source: http://rss.news.yahoo.com/rss/economy

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Microsoft may have to concede board seat to shareholder activist ValueAct

Microsoft's top institutional investors have contacted ValueAct, expressing concern over management execution and strategy, the sources said.ReutersMembers of Microsoft Corp's board have held talks with ValueAct Capital Management LP in recent days over the activist shareholder's demands to secure a seat on the company's board, two sources close to the matter said on Friday. ValueAct, which wants a say in the way the world's largest software company is adapting to the new world of mobile computing, is seeking to nominate a person from its own organization, the sources said. The news comes as Microsoft had its biggest sell-off in four years, wiping $34 billion off its market value, after quarterly results were hit by weak demand for its latest Windows system and poor sales of its Surface tablet.

San Francisco-based ValueAct, which manages more than $10 billion for clients, owned 33 million Microsoft shares as of March, which is 0.4 percent of total shares outstanding, but it is believed to be buying more. The fund, co-founded by finance industry veteran Jeff Ubben in 2000, has made a reputation for building stakes in companies and working with management in private to change fundamental strategy. ValueAct's other major holdings include Adobe Systems Inc, Motorola Solutions Inc and Valeant Pharmaceuticals International Inc. In recent months a number of Microsoft's top institutional investors have contacted ValueAct, expressing concern over management execution and strategy, the sources said.

High among the issues in the talks, which the sources described as ongoing, is the apparent lack of succession planning at the top of the company. Steve Ballmer has held the chief executive job since 2000

... contd.

Source: http://financialexpress.com/news/microsoft-may-have-to-concede-board-seat-to-shareholder-activist-valueact/1144442/

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Saturday, July 20, 2013

Marriott Vacations Worldwide Reports Second Quarter 2013 ...

Marriott Vacations Worldwide -logoORLANDO, FL ?(July 19, 2013) ??Marriott Vacations Worldwide Corporation?(NYSE: VAC) yesterday reported second quarter 2013 financial results and updated certain guidance for the full year 2013.

Second Quarter 2013 highlights include:

  • Adjusted EBITDA (earnings before non-consumer financing interest expense, income taxes, depreciation and amortization), as adjusted for organizational and separation related costs in connection with the company?s spin-off from Marriott International, Inc. (the ?Spin-Off?) and other activity, totaled?$48 million, a?$20 million?increase from the second quarter of 2012, on an adjusted basis.
  • North America?segment volume per guest (VPG) increased 8 percent year-over-year to?$3,211.
  • Adjusted development margin increased to 17.1 percent in the second quarter of 2013 from 12.8 percent in the second quarter of 2012;North America?adjusted development margin increased to 19.5 percent in the second quarter of 2013 from 16.8 percent in the second quarter of 2012.
  • Adjusted fully diluted earnings per share (EPS) in the second quarter were?$0.73?compared to?$0.33?in the second quarter of 2012.

Second quarter 2013 net income totaled?$30 million, or?$0.85?per diluted share, compared to net income of?$5 million, or?$0.15?per diluted share, in the second quarter of 2012. Development margin increased to 23.1 percent in the second quarter of 2013 from 9.3 percent in the second quarter of 2012.

Second quarter 2013 adjusted net income totaled?$27 million, a?$16 million?increase from?$11 million?of adjusted net income in the second quarter of 2012. Second quarter 2013 adjusted net income reflects a reduction of?$5 million?of pre-tax income that resulted from the exclusion of?$9 million?of pre-tax income related to the impact of extended rescission periods in the company?s?Europe?segment, partially offset by the exclusion of$2 million?of organizational and separation related costs,?$2 million?of severance costs and an impairment charge in the company?s?Europe?segment and a nominal net impact related to a joint venture project that was previously included in the company?s former Luxury segment. Second quarter 2012 adjusted net income reflects an increase of?$8 million?of pre-tax income that resulted from the exclusion of?$4 million?of charges related to organizational and separation related costs, a?$3 million?decrease in pre-tax income related to the impact of extended rescission periods in the company?s?Europe?segment, charges of?$2 million?in connection with litigation settlements related to the company?s project in?San Francisco?and?$1 million?of severance costs, partially offset by?$2 million?of impairment reversal related to a joint venture project that was previously included in the company?s former Luxury segment. In addition, adjusted development margin for both periods is adjusted, as appropriate, for the impact of revenue reportability.

Non-GAAP financial measures, such as adjusted EBITDA, as adjusted, adjusted net income and adjusted development margin are reconciled in the Press Release Schedules that follow. Adjustments, including those relating to the impact of extended rescission periods in the company?s?Europesegment, are shown and described in further detail on schedules A-1 through A-20.

?Our second quarter continued our trend of strong adjusted EBITDA growth, driven by improved adjusted development margin and better results in our rental and resort management businesses,? said?Stephen P. Weisz, president and chief executive officer. ?More efficient marketing and sales spending was integral to our improvement as we continue to leverage our fixed costs and drive higher development margin. We have increased our adjusted free cash flow guidance by?$65 million, driven primarily by lower projected cash income taxes, and, given the positive trends in our business year-to-date, we now expect our adjusted EBITDA to be at the high end of our full year guidance range for 2013.?

Second Quarter 2013 Results

Total company contract sales were?$157 million, an?$11 million, or 7 percent, decrease from?$168 million?in the second quarter of 2012, driven mainly by?$10 million?of lower contract sales in the company?s?Europe?and?Asia Pacific?segments.

For the second quarter ended?June 14, 2013, total revenues from the sale of vacation ownership products, excluding?$17 million?related to the impact of extended rescission periods in the company?s?Europe?segment, were?$152 million.

Development margin, excluding?$9 million?related to the impact of extended rescission periods in the company?s?Europe?segment, was?$29 million, a?$13 million?increase from the second quarter of 2012.? This increase was driven by higher reportability year-over-year and lower cost of vacation ownership products and marketing and sales expenses. Reported development margin was?$38 million, a?$25 million?increase from the second quarter of 2012.

Adjusted development margin percentage increased 4.3 percentage points to 17.1 percent in the second quarter of 2013 from 12.8 percent in the second quarter of 2012. The impact of these adjustments is illustrated on schedules A-10?through A-13. Reported development margin increased 13.8 percentage points to 23.1 percent in the second quarter of 2013 from 9.3 percent in the second quarter of 2012.

Rental revenues totaled?$65 million, an?$11 million, or 18 percent, increase from the second quarter of 2012, reflecting an 11 percent increase in transient keys rented as well as a 7 percent increase in average transient rate driven by stronger consumer demand and a favorable mix of available inventory. Rental revenues net of expenses, were?$9 million,?$7 million?higher than the second quarter of 2012.

Resort management and other services revenues totaled?$61 million, a decrease of less than?$1 million?from the second quarter of 2012. Revenues were impacted by the disposition of a golf course and related assets at one of the company?s?Ritz-Carlton?branded projects late in 2012. Resort management and other services revenues, net of expenses improved?$3 million, a 23 percent increase over the second quarter of 2012. Results reflected higher annual fees in connection with the company?s?Marriott Vacation Club Destinations?program and improvements in ancillary operations driven by the disposition of a golf course and related assets at one of the company?s?Ritz-Carlton?branded projects late in 2012.

Adjusted EBITDA, as adjusted for the impact of extended rescission periods in the company?s?Europe?segment, organizational and separation related costs, and other adjustments, was?$48 million?in the second quarter of 2013, a?$20 million?increase from Adjusted EBITDA, as adjusted, of$28 million?in the second quarter of 2012.

Segment Results

Effective?December 29, 2012, the company combined the reporting of the financial results of its former Luxury segment with the?North Americasegment based upon its decision to scale back separate development activity and to aggregate future marketing and sales of inventory in the upscale and luxury tiers. Existing service standards and on-site management remain unaffected by these reporting changes. Prior year amounts have been recast for consistency with current year?s presentation.

North America

VPG increased 8 percent to?$3,211?in the second quarter of 2013 from?$2,968?in the second quarter of 2012, driven by higher pricing and improved closing efficiency. Total?North America?contract sales were?$142 million?in the second quarter of 2013, roughly flat to the prior year, due to fewer sales tours quarter over quarter.

Second quarter 2013 North America segment financial results increased 25 percent, or?$17 million, to?$84 million. The increase was driven by?$10 million?of higher development margin,?$7 million?of higher rental revenues net of expenses,?$3 million?of higher resort management and other services revenues net of expenses and?$1 million?of higher other revenues net of expenses. These increases were partially offset by?$3 million?of lower financing revenues and?$1 million?of higher royalty fees.

Revenues from the sale of vacation ownership products increased?$13 million?to?$136 million?in the second quarter, driven mainly by?$11 million?of higher year-over-year revenue reportability. Development margin was?$28 million, a?$10 million?increase from the second quarter of 2012. This increase was driven by higher revenue reportability year-over-year and lower cost of vacation ownership products and marketing and sales expenses, offset partially by the slightly lower contract sales.

Development margin percentage increased to 20.8 percent in the second quarter of 2013 as compared to 14.7 percent in the prior year quarter. Excluding the impact of revenue reportability, adjusted development margin percentage increased to 19.5 percent in the second quarter of 2013 from 16.8 percent in the second quarter of 2012. The impact of revenue reportability is illustrated on schedule A-12.

Asia Pacific

Asia Pacific?contract sales declined?$7 million?to?$8 million?in the second quarter of 2013 and total revenues declined?$5 million?to?$16 million, both reflecting the impact of the closure of two under-performing off-site sales centers in the fourth quarter of 2012. Segment financial results were?$2 million, remaining flat when compared to the second quarter of 2012.

Europe

As the?Europe?segment continues to sell through its remaining inventory, second quarter 2013 contract sales declined?$3 million?to?$7 million.Europe?segment financial results, excluding?$9 million?related to the impact of extended rescission periods, were?$2 million, up?$2 million?from break-even results in the second quarter of 2012, after adjusting for the?$3 million?impact related to extended rescission periods in the prior year comparable period. These results reflect?$2 million?of higher development margin and?$1 million?of higher rental revenues net of expenses, offset partially by a?$1 million?impairment charge related to a leased golf course at one of the company?s projects in?Spain. Reported segment financial results were?$11 million, up?$14 million?from a loss of?$3 million?in the second quarter of 2012.

Organizational and Separation Plan

During the second quarter of 2013, the company incurred?$3 million?of costs in connection with its continued organizational and separation related efforts, of which approximately?$1 million?was capitalized during the quarter. Total future spending for these efforts is expected to be approximately?$16 million?to?$21 million, with costs being incurred through 2014.

These costs primarily relate to establishing the company?s own information technology systems and services, independent accounts payable functions and reorganization of existing human resources and information technology organizations to support the company?s standalone public company needs. Once completed, these efforts are expected to generate approximately?$15 million?to?$20 million?of annualized savings, of which approximately?$2 million?are reflected in the company?s year-to-date 2013 financial results.

Balance Sheet and Liquidity

On?June 14, 2013, cash and cash equivalents totaled?$104 million. Since the end of 2012, real estate inventory balances declined?$19 million?to$862 million, including?$425 million?of finished goods,?$168 million?of work-in-process and?$269 million?of land and infrastructure. The company had?$687 million?in debt outstanding at the end of the second quarter of 2013, a decrease of?$31 million?from year-end 2012, including?$643 million?in non-recourse securitized notes, of which?$104 million?has been drawn down under the company?s warehouse credit facility, and?$40 million?of mandatorily redeemable preferred stock of a subsidiary. As of?June 14, 2013, the company had?$196 million?in available capacity under its revolving credit facility after taking into account outstanding letters of credit and had?$124 million?of vacation ownership notes receivable eligible for securitization.

Outlook

For the full year 2013, the Company is increasing its adjusted free cash flow, as adjusted, guidance as a result of lower projected cash income taxes and improved consumer financing activity. In addition, as a result of lower effective income tax rates, primarily in international tax jurisdictions, the Company is increasing its adjusted net income and adjusted fully diluted earnings per share guidance for the full year.

Current Guidance Previous Guidance
Adjusted free cash flow, as adjusted $120 million?to?$135 million $55 million?to?$70 million
Adjusted net income, as adjusted $72 million?to?$78 million $69 million?to?$75 million
Adjusted fully diluted earnings per share $1.94?to?$2.10 $1.87?to?$2.03

The Company is also reaffirming the following guidance for full year 2013 as previously provided on?April 25, 2013:

Gross contract sales growth 0 percent to 5 percent
North America?contract sales growth 5 percent to 10 percent
Adjusted EBITDA, as adjusted $155 million?to?$165 million
Adjusted company development margin 17.0 percent to 18.0 percent

Schedules A-1 through A-20 reconcile the non-GAAP financial measures set forth above to the company?s expected full year 2013 net income of$71 million?to?$77 million?and development margin of 17.5 percent to 18.5 percent, in each case on an as reported basis.

Second Quarter 2013 Earnings Conference Call

The company will hold a conference call at?10:00 a.m. EDT?today to discuss these results. Participants may access the call by dialing (877) 941-0844 or (480) 629-9835 for international callers. A live webcast of the call will also be available in the Investor Relations section of the company?s website at?www.marriottvacationsworldwide.com.

An audio replay of the conference call will be available for seven days and can be accessed at (800) 406-7325 or (303) 590-3030 for international callers.?The replay passcode is 4625312.?The webcast will also be available on the company?s website.

About?Marriott Vacations Worldwide Corporation

Marriott Vacations Worldwide Corporation?is a leading global pure-play vacation ownership company. In late 2011,?Marriott Vacations Worldwide?was established as an independent, public company focusing primarily on vacation ownership experiences. Since entering the industry in 1984 as part of Marriott International, Inc., the company earned its position as a leader and innovator in vacation ownership products. The company preserves high standards of excellence in serving its customers, investors and associates while maintaining a long-term relationship with Marriott International.Marriott Vacations Worldwide?offers a diverse portfolio of quality products, programs and management expertise with more than 60 resorts and more than 420,000 Owners and Members. Its brands include:?Marriott Vacation Club,?The Ritz-Carlton Destination Club?and Grand Residences by Marriott. For more information, please visit?www.marriottvacationsworldwide.com.

Note on forward-looking statements: This press release and accompanying schedules contain ?forward-looking statements? within the meaning of federal securities laws, including statements about earnings trends, organizational and separation related efforts, estimates, and assumptions, and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including volatility in the economy and the credit markets, supply and demand changes for vacation ownership and residential products, competitive conditions; the availability of capital to finance growth, and other matters referred to under the heading ?Risk Factors? contained in our most recent Annual Report on Form 10-K filed with the U.S Securities and Exchange Commission?(the ?SEC?) and in subsequent?SEC?filings, any of which could cause actual results to differ materially from those expressed in or implied in this presentation. These statements are made as of?July 18, 2013?and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

SOURCE: Marriott Vacations Worldwide

Source: http://www.insidethegate.com/2013/07/marriott-vacations-worldwide-reports-second-quarter-2013-financial-results/

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Monday, July 1, 2013

Protests move to el-Quba Palace where Egypt's President Morsi is believed to be staying - @AlArabiya_Eng

Last Update: Sunday, 30 June 2013 KSA 22:11 - GMT 19:11

Live from Egypt: latest developments

Al Arabiya

(Time in GMT)

  • 7:00 Freedom and Justice Party (FJP) says 4 millions in pro-Mursi rally

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  • 6:45 Health ministry says 174 wounded in seven provinces

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  • ?6:40 One dead in clashes between pro and anti Mursi protesters
  • ?6:30 Cairo's Muslim Brotherhood HQ is attacked with petrol bombs
  • 5: 30 pm National Salvation Front calls for boycotting the government

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  • 5:30 pm National Salvation Front protesters to stay on streets until Mursi goes

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  • 5:15 pm Protests move to el-Quba Palace where President Mursi is believed to be staying

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  • 4:00 pm Presidency urges protesters to avoid violence

    ?

  • 3:55 pm: Presidency says it is open to dialogue

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  • 3: 30 pm Military helicopters flying over Alexandria
  • 3:20 pm Anti-Mursi rallies gather on Alexandria courniche
  • 3:00 p.m. Opposition rallies reach presidential palace in Cairo
  • 2:20 pm Protesters in Alexandria struck down by poisoned water

Source: http://english.alarabiya.net/en/News/middle-east/2013/06/30/Live-from-Egypt-latest-developments-.html

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Debt Ceiling remains unbeaten in Bashford Manor

Updated: June 30, 2013, 1:59 AM ET

By Jack Shinar | Bloodhorse

BASHFORD MANOR S. | PURSE: $100,000 | 2-YEAR-OLDS | GRADE 3 | SIX FURLONGS

Post Horse Win Place Show
4 Debt Ceiling $12.40 $5.40 $4.20
3 Hollywood Talent ? $4.00 $3.20
2 My Corinthian ? ? $5.20

Debt Ceiling improved his career to a perfect 3-for-3 by taking the $111,400 Bashford Manor Stakes at Churchill Downs in a commanding fashion June 29.

The Kentucky-bred son of Discreet Cat Top Marks, by Marquetry, is trained by John Robb, who celebrated his first win at Churchill. The 2-year-old colt is owned by Tim O'Donohue and was bred by Brandywine Farm. Heavy rain and lightning delayed the start of the six-furlong Bashford Manor, the year's first open stakes for 2-year-olds, for approximately 14 minutes. Horses circled the paddock until the severe weather pass through the area. Seven horses went to the post on a soupy main track. While the initial break was good, Sandbar, with the spring meet's leading rider Shaun Bridgmohan aboard, stumbled about two jumps out of the gate and was out of contention. My Corinthian grabbed the early lead and took the field through a blistering :20.93 opening quarter-mile and a half-mile in :44.57. Hollywood Talent stalked the leader while Debt Ceiling fell back to a couple of lengths off the leaders down the backstretch. Approaching the turn, jockey Eric Camacho hit the accelerator and Debt Ceiling roared passed the frontrunners, taking what would be an uncontested and widening lead. Debt Ceiling ran five furlongs in :56.79 to open up by six lengths and stopped the timer at 1:10.66. He won by 2 3/4 lengths. "We've always known this horse has had talent," Camacho said. "The plan today was to let the two speed horses (My Corinthian and Hollywood Talent) go and sit off them. So I just sat back and took my time. When it was time to go, he told me when to go. I passed them so fast. I was a little worried that I moved too early, but I had so much horse that when it was time to go I had to go." Hollywood Talent , with John Velazquez, wore down My Corinthian, ridden by Luis Garcia, in deep stretch and took second by 2 1/2 lengths. Runkle, D'cajun Cat, Gun Roar, and Sandbar rounded out the order of finish. O'Donohue described the win as priceless. "This is my second stakes horse, but I have a feeling this is going to be the best horse I've ever owned, said the 50 year old businessman from Parkland, Fla. He has owned racehorses for 30 years. Debt Ceiling paid $12.40, $5.40, and $4.20 as the third choice in the field of seven juveniles. Hollywood Talent paid $4 and $3.20, while My Corinthian paid $5.20. The $2 exacta paid $48.80, and the $2 trifecta paid $80.75. Only Debt Ceiling had stakes experience heading into the Bashford Manor. The colt broke his maiden by 4 1/2 lengths March 30 at Laurel Park, then won the Rollicking Stakes by 2 1/2 lengths May 18. Camacho has ridden him both times. "The first race, I didn't expect him to win," said Robb, who is based in Maryland. "He did it on raw talent. The last two races, we went in feeling very confident. There were really no other races on the East Coast for him. This was the closest around and I'm glad we came." Robb said he expects to ship Debt Ceiling to Saratoga Race Course for his next start.

Source: http://espn.go.com/horse-racing/story/_/id/9438094/2013-bashford-manor-recap

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Watch: Flesh-Eating Bacteria Survivor Gets Service Dog

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Source: http://abcnews.go.com/Health/video/flesh-eating-bacteria-survivor-service-dog-19547159

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Pirates win 9th in row, top Brewers in 14th inning

Milwaukee Brewers catcher Martin Maldonado, right, reaches for the throw as Pittsburgh Pirates' Gaby Sanchez, left, scores from third on a pinch-hit by Russell Martin in the fourteenth inning of the baseball game on Sunday, June 30, 2013, in Pittsburgh. The Pirates won 2-1, in 14 innings. (AP Photo/Keith Srakocic)

Milwaukee Brewers catcher Martin Maldonado, right, reaches for the throw as Pittsburgh Pirates' Gaby Sanchez, left, scores from third on a pinch-hit by Russell Martin in the fourteenth inning of the baseball game on Sunday, June 30, 2013, in Pittsburgh. The Pirates won 2-1, in 14 innings. (AP Photo/Keith Srakocic)

Pittsburgh Pirates starting pitcher Charlie Morton throws against the Milwaukee Brewers in the first inning of the baseball game on Sunday, June 30, 2013, in Pittsburgh. (AP Photo/Keith Srakocic)

Milwaukee Brewers starting pitcher Kyle Lohse throws against the Pittsburgh Pirates in the first inning of the baseball game on Sunday, June 30, 2013, in Pittsburgh. (AP Photo/Keith Srakocic)

Pittsburgh Pirates shortstop Clint Barmes, top, hops as the ball gets away while Milwaukee Brewers' Carlos Gomez steal second base in the first inning of the baseball game on Sunday, June 30, 2013, in Pittsburgh. (AP Photo/Keith Srakocic)

A young baseball fan wears a yellow poncho as he waits out a rain delay in the baseball game between the Pittsburgh Pirates and the Milwaukee Brewers on Sunday, June 30, 2013, in Pittsburgh. (AP Photo/Keith Srakocic)

(AP) ? Pinch-hitter Russell Martin singled home the winning run in the 14th inning and the Pittsburgh Pirates earned their ninth straight victory, defeating the Milwaukee Brewers 2-1 Sunday.

The Pirates extended their longest winning streak since 2004, when they took 10 in a row. Pittsburgh reached the midpoint of its season with the best record in the majors at 51-30.

Gaby Sanchez led off the 14th with an infield single. With one out, he stole second for his first steal in more than a year. After a walk, Martin hit a soft liner to center off Francisco Rodriguez (1-1).

Sanchez chugged around third and slid home ahead of the throw by Carlos Gomez.

Vin Mazzaro pitched five perfect innings. He was among six Pirates relievers who combined for 11 scoreless innings after Charlie Morton was pulled following a rain delay of 2 hours, 20 minutes.

Justin Wilson, Bryan Morris, Jason Grilli and Mark Melancon each pitched a scoreless inning following Mazzaro ? allowing a total of two hits and no walks.

Tony Watson (2-1) struck out four in three hitless innings.

Andrew McCutchen hit a tying single in the Pittsburgh eighth.

Bidding for the franchise's first winning season or playoff berth in 21 years, surprising Pittsburgh enters July with the most wins in the majors. The crowd of 35,351 was about three 3,000 shy of capacity, snapping the PNC Park-record sellout streak of five games.

The vast majority of those on hand waited out a downpour not long after Milwaukee scored an unearned run in the second inning off of Morton, making his fourth start since returning from 2012 elbow surgery.

The Pirates trailed for roughly the next four hours ? after the delay, Tyler Thornburg and Mazzaro traded shutout innings ? until tying it in the eighth against Jim Henderson. Marte walked with one out, advanced on a groundout and came home on McCutchen's single.

The Pirates almost won it in the ninth, loading the bases against former Pittsburgh pitcher Michael Gonzalez. But pinch-hitter Brandon Inge struck out swinging to end the inning.

Pittsburgh loaded the bases again in the 13th with one out, but Rodriguez got Pedro Alvarez to ground into a 3-6-3 double play. Milwaukee manager Ron Roenicke utilized five infielders ? all playing in ? for the sequence.

Martin Maldonado had three hits for Milwaukee, which got its only run when Yuniesky Betancourt came home on Logan Schafer's bunt in the second.

NOTES: LF Schafer robbed Sanchez of a home run by reaching over the left-center field wall for a catch in the seventh. ... After a team off-day Monday, Pirates LHP Jeff Locke (7-1, 2.06) carries a personal seven-game winning streak into Tuesday's series opener against Philadelphia. The visiting Phillies counter with rookie RHP Jonathan Pettibone (3-3, 4.17). ... After the Brewers begin a four-game series in Washington on Monday, the lone NL team they will have yet to face will be the New York Mets.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2013-06-30-BBN-Brewers-Pirates/id-187240ea39d34f6a894412fc0728d3e2

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