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Bernanke's prepared testimony to Joint Economic Committee

Thomson ReutersMay 22, 2013 10:46

WASHINGTON (Reuters) - Below is the text of Federal Reserve Chairman Ben Bernanke's prepared testimony on the U.S. economy to the congressional Joint Economic Committee on Wednesday. Chairman Brady, Vice Chair Klobuchar, and other members of the Committee, I appreciate this opportunity to discuss the economic outlook and economic policy. Current Economic Conditions

Nova Scotia auditor general finds deficiencies in oversight of foster kids

The Canadian PressMay 22, 2013 10:30

HALIFAX - Foster children and other kids in care are not being adequately monitored and investigations into alleged abuse are taking too long and are slow to start, Nova Scotia's auditor general said in a report that highlights failings in the province's child welfare system. Jacques Lapointe said he looked at 140 investigations into allegations of abuse or neglect involving kids in care and found that 12 per cent of those probes did not start within the required time.

NRC launches special inspection of NC nuclear plant shuttered by year-old data discovery

The Canadian PressMay 22, 2013 10:30

RALEIGH, N.C. - Federal regulators are launching a special inspection of a nuclear power plant outside North Carolina's capital city that was forced to shut down last week. A Nuclear Regulatory Commission spokesman said Wednesday that two specialists will study what led up to the shutdown after a problem was uncovered using year-old data. They want to know why a flaw inside the nuclear reactor wasn't found until Duke Energy employees took a new look at test results from last year.

Indian medics reconstruct baby's swollen head

Agence France-PresseMay 22, 2013 10:00

Indian doctors said Wednesday they have successfully carried out a first round of reconstructive surgery on the skull of a baby suffering from a rare disorder that caused her head to nearly double in size. The surgery on the skull of one-year-old Roona Begum was carried out on Tuesday near New Delhi by the same surgeons who last week drained fluid from the youngster in a life-saving operation. "We did the crucial head reconstruction surgery to reduce the size of her head on Tuesday. As of now, there are no complications," neurosurgeon Sandeep Vaishya told AFP.

Spain on track for growth, job creation in 2014, business group says

Agencia EFEMay 22, 2013 09:48

Bogota, May 22 (EFE).- Spain's economy will grow and register net job creation in 2014, Spanish Business Council for Competitiveness, or CEC, executive director Fernando Casado said during a presentation in Bogota. The CEC is projecting gross domestic product (GDP) growth of 0.80 percent in Spain next year, a figure at the mid-point of the range of projections from international financial institutions, such as the World Bank, while the government is forecasting growth of 0.50 percent, Casado said.

Football: Pellegrini confirms Malaga exit

Agence France-PresseMay 22, 2013 09:30

Manager Manuel Pellegrini, strongly linked to the vacant Manchester City post, is leaving Malaga at the end of the season, the Chilean announced on Wednesday. "Professionally, I am living my last hours in Malaga," he said at a function to mark his achievements with the club in a report carried by Spanish Sports daily AS. He added: "On Sunday I will manage my last game as Malaga coach at La Rosaleda.

Captain in Italy cruise ship crash to go on trial in July

Agence France-PresseMay 22, 2013 09:01

The captain of the Costa Concordia cruise ship will go on trial from July 9 for manslaughter over the January 2012 disaster in which 32 people lost their lives, an Italian judge ruled on Wednesday. Francesco Schettino has also been accused of abandoning the giant vessel, which crashed into a Tuscan island and keeled over, before all 4,229 people on board had been evacuated. The trial will be held in Grosseto, the city nearest to the site of the tragedy.

Mostly Asian expat workers end rare UAE strike

Agence France-PresseMay 22, 2013 09:00

Thousands of mainly Asian expatriate workers in the United Arab Emirates have ended a strike they began at the weekend in a rare stoppage aimed at improving their conditions, their employer said Wednesday. "Arabtec confirms that all workers returned to work with no impact on any of its projects," the Dubai-based company, which is constructing the Louvre Abu Dhabi, said in a statement.

UK wine retailer First Quench in $242 million pension risk deal

Thomson ReutersMay 22, 2013 08:03

By Sarah Mortimer LONDON (Reuters) - British alcoholic drinks retailer First Quench is insuring a chunk of its pension liabilities with specialist provider Pension Insurance Corporation, improving retirement benefits for its 1,966 members. A growing number of "final salary" pension schemes are running into trouble because of rising longevity and low UK government bond yields.

Russian governor backs former advisor Navalny in court

Agence France-PresseMay 22, 2013 08:01

Russian opposition leader Alexei Navalny on Wednesday received a boost in his controversial trial for embezzlement when a witness for the prosecution testified in support of the Kremlin critic. The testimony by Kirov region governor Nikita Belykh was the latest to undermine the prosecution case, which the opposition has denounced as a set-up ordered by the Kremlin to end Navalny's political career.