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Best Buy sees investments squeezing near-term profits

May 21, 2013 08:00
By Dhanya Skariachan (Reuters) - Best Buy Co Inc reported weak quarterly sales on Tuesday and warned that a slew of investments to entice shoppers could squeeze profits in the near term. The news overshadowed its better-than-expected first-quarter profit and sent shares of the world's largest consumer electronics chain down 4 percent in premarket trading.

US-based iGate fires CEO after sex harassment claim

Agence France-PresseMay 21, 2013 07:16
US-based outsourcer iGate says it has fired chief executive Phaneesh Murthy, one of India's best-known IT businessmen, for failing to report a relationship with an employee, the second such case he has faced. The statement by the Fremont, California-based IT and outsourcing company, came after an investigation into "a claim of sexual harassment" against Murthy and marked the second time he has been entangled in such a situation. In 2002, he was forced to quit India's second-biggest software exporter, Infosys, following a similar claim.

Rubber bullets fired at South African mine strikers, several hurt

May 21, 2013 06:46
By Wendell Roelf CAPE TOWN (Reuters) - Ten striking South African miners were taken to hospital on Tuesday after being hit by rubber bullets, police said, as labour strife spread ahead of mid-year pay negotiations. As well as the violence at a chromium mine, the National Union of Metal Workers of South Africa (NUMSA) said it wanted a 20 percent industry-wide salary rise after a two-day stoppage at a Mercedes-Benz plant in East London.

Analysts say French president's plan to boost economy, attract jobs is misguided

The Canadian PressMay 21, 2013 06:30
PARIS - The man charged with reviving France's shrinking economy and attracting businesses to invest there is gaining a reputation for doing the opposite. As the country's first-ever minister for industrial renewal, Arnaud Montebourg has told the world's largest steelmaker it is not welcome in France; exchanged angry letters with the head of an American tire company he was supposedly wooing; and scuttled Yahoo's offer to buy the majority of a video-sharing website.

Ireland says not to blame for Apple's low tax rate

May 21, 2013 05:30
By Conor Humphries DUBLIN (Reuters) - Ireland said on Tuesday it was not to blame for Apple Inc's low global tax payments after the U.S. Senate said the company paid little or nothing on tens of billions of dollars in profits stashed in Irish subsidiaries. The Irish government, which has seen the luring of U.S. multinationals with low taxes as a key part of its economic policy since the 1960s, said its system was transparent and other countries were responsible if the tax rate paid by Apple was too low.

Appointees to EI boards broke guidelines by making political donations

The Canadian PressMay 21, 2013 04:30
OTTAWA - Dozens of people appointed to plum patronage jobs have been donating to the Conservative party, despite government rules that forbid it. A Canadian Press investigation found as many as one of every five chairpersons on the Employment Insurance Boards of Referees gave money to political parties, riding associations and election candidates while they served on the tribunal. All but one of the dozens of donations went to Conservatives, Election Canada records show. The lone non-Tory donation went to a Liberal riding association in the Toronto area.

Premier Wynne to focus on byelections after winning NDP support for budget

The Canadian PressMay 21, 2013 04:30
TORONTO - Premier Kathleen Wynne says she's pleased the New Democrats will support her budget and avert a provincial election. Now that the threat's over, she says she'll look at dates for two byelections in London and Windsor. The seats were vacated in February by former cabinet ministers Dwight Duncan and Chris Bentley. NDP Leader Andrea Horwath says her party will prop up the minority Liberals for now because they've met enough of her demands. Horwath says Wynne didn't give them everything they wanted, but it's enough to gain NDP support.

US expert says scientist was murdered in Singapore

Agence France-PresseMay 21, 2013 04:16
An American scientist found hanged in Singapore last year was murdered and his death made to look like a suicide as part of a conspiracy, a US pathologist told an inquiry Tuesday. Edward Adelstein, 75, a deputy medical examiner in Missouri, contradicted Singapore police findings that Shane Todd killed himself, but admitted his conclusions were based on pictures of the body and second-hand information.

Analysis: Some Republicans see new scandal in Sebelius fundraising

May 21, 2013 03:15
By David Morgan WASHINGTON (Reuters) - With the White House already reeling from three major controversies, some Republican lawmakers are zeroing in on what they perceive is another possible scandal tied to President Barack Obama's landmark health reform law just as it nears implementation.

Rosneft names new managers after former TNK-BP executives quit

May 21, 2013 02:47
MOSCOW (Reuters) - Rosneft <ROSN.MM>, the state-owned Russian crude producer which earlier this year bought TNK-BP, announced several senior management appointments on Monday after former TNK-BP executives decided to leave positions they had been offered. The world's biggest listed crude producer, which paid $55 billion in cash and stock for TNK-BP, said its former head, Eduard Khudainatov, was taking over the production department from Sergei Brezitsky, who had worked at TNK-BP until 2011 prior to being offered the job at Rosneft.
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