Fed's Plosser: U.S. unemployment to fall under 7 percent by end - 2013

SAN DIEGO (Reuters) - Philadelphia Federal Reserve President Charles Plosser said on Friday that he expected U.S. unemployment to decline to between 6.8 percent and 7.0 percent by the end of this year, helped by economic growth of around 3 percent in both 2013 and 2014.Plosser also told reporters on the sidelines of the annual meeting of the American Economic Association that he hoped the U.S. central...

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Italy PM Monti says not eyeing role of finance minister in next government

ROME (Reuters) - Outgoing Italian Prime Minister Mario Monti said on Friday he was aiming to lead the next government and he was unlikely to agree to be economy minister in another premier's cabinet after February elections."I do not think I would have the motivation to commit myself to serve a government that did not agree with me on at least 98 percent of policy," he said when asked whether he...

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Fed's Plosser: U.S. potential growth rate has likely been lowered

SAN DIEGO (Reuters) - Philadelphia Federal Reserve President Charles Plosser said on Friday that the United States had likely suffered a lasting decline in the trend potential growth rate of its economy as a result of the severe 2007-2009 U.S. recession."It certainly looks like we've had a permanent shock," he told a panel discussion on the real business cycle during the annual meeting of the American...

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Britain extradites al Qaeda suspect to U.S

LONDON (Reuters) - A Pakistani man accused by British authorities of being an al Qaeda operative who took part in a plot to bomb U.S. and English targets was extradited from Britain to the United States on Thursday to face terrorism charges.Abid Naseer, 26, was one of a dozen men arrested in April 2009 on suspicion of preparing to cause mass casualties by bombing Manchester city centre in northern...

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Icelandic girl fights for right to her own name

REYKJAVIK, Iceland (AP) — Call her the girl with no name.A 15-year-old is suing the Icelandic state for the right to legally use the name given to her by her mother. The problem? Blaer, which means "light breeze" in Icelandic, is not on a list approved by the government.Like a handful of other countries, including Germany and Denmark, Iceland has official rules about what a baby can be named. In a...

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Better margins a bonus for Next as Christmas sales rise

Next, Britain's No.2 clothing retailer, nudged its full-year profit forecast higher after an increase in sales over the Christmas period was supplemented by improved margins due to a renewed attack on costs.Shares in Next, which has a long-standing policy of never going on sale before December 26, rose 2.3 percent on Thursday, topping the FTSE 100 leader board, after it forecast profit growth in both...

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Basque group announces it is dissolving

BAYONNE, France (AP) — The Basque nationalist group known as Batasuna — legal in France but banned in Spain — has announced that it is dissolving after 11 years.It leaders said Thursday that Batasuna, which means "unity," is dissolving because "the Basque country is witnessing a new political phase."In Spain, Batasuna has been outlawed since 2003 for its links to the separatist group ETA, but in France...

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British zoos start annual census

LONDON (AP) — In a sea of flapping black and white flippers, Ricky is hard to miss: He's got spiky yellow feathers, a flamboyant character, and he's the only rockhopper among the dozens of penguins living in the London Zoo.That's a big help for keepers embarking on their annual stock-taking of all the zoo's residents. It's no easy task, when there are more than 17,500 creatures to count. All animals...

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Fed becoming worried about stimulus side effects

 Federal Reserve officials are increasingly concerned about the potential risks of the U.S. central bank's asset purchases on financial markets, even if they look set to continue an open-ended stimulus program for now.In a surprise to Wall Street, minutes from the Fed's December policy meeting, published on Thursday, showed a growing reticence about further increases in the central bank's $2.9...

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Stocks fade after Fed discloses split on stimulus

A two-day rally in the stock market came to an end Thursday afternoon when an account of the Federal Reserve's last meeting revealed a split between bank officials over how long the Fed should keep buying bonds to support the economy.The Dow Jones industrial average and the Standard & Poor's 500 index treaded water for much of the day, then slid into the red around 2 p.m. Eastern, after the Fed...

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Fiscal-cliff deal no recipe for a robust economy

Housing is rebounding. Families are shrinking debts. Europe has avoided a financial crackup. And the fiscal cliff deal has removed the most urgent threat to the U.S. economy.So why don't economists foresee stronger growth and hiring in 2013?Part of the answer is what Congress' agreement did (raise Social Security taxes for most of us). And part is what it didn't do (prevent the likelihood of more...

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Auto industry posts best U.S. sales year since 2007

U.S. auto sales rose 9 percent in December, led by foreign manufacturers, capping off the best year for the industry since before the recession.The year's sales were driven by a slowly recovering economy, more available credit and the need for consumers and businesses to replace aging cars and trucks.General Motors Co posted December U.S. sales growth of 5 percent compared with the year-earlier month,...

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Huge gadget show gears up in Vegas

Think your high-definition TV is hot stuff — as sharp as it gets? At the biggest trade show in the Americas, which kicks off next week in Las Vegas, TV makers will be doing their best to convince you that HDTVs are old hat, and should make room for "Ultra HDTV."It's the latest gambit from an industry struggling with a shift in consumer spending from TVs, PCs and single-purpose devices such as camcorders...

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LG rumored to debut smartphone with edge-to-edge display, full-HD phablet and 7-inch tablet at CES

LG’s (066570) first attempt at a large screen Galaxy Note competitor never really took off, however the company is said to be ready to try again. According to a report from GSMArena, LG is looking to make a splash at this year’s Consumer Electronics Show in January with a number of high-resolution displays.[More from BGR: Can Samsung survive without Android?]The company is said to be planning to debut...

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All of 2012 in One 4-Minute Video

We realize there's only so much time one can spend in a day watching new trailers, viral video clips, and shaky cell phone footage of people arguing on live television. This is why every day The Atlantic Wire highlights the videos that truly earn your five minutes (or less) of attention. Today: RELATED: 'Roseanne' Predicted Internet Addiction; A Weather Alert from HellFilmmaker Ryan James Yezak boiled...

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No surprise: YouTube, Angry Birds, Instagram and Facebook among 2012′s top apps

Although every app developer dreams of creating the next big mobile app, it seems that established applications are becoming more firmly entrenched at the top of the food chain. Per Reuters, year-end totals from the Apple (AAPL) App Store and Google (GOOG) Play show that stalwarts such as YouTube, Angry Birds, Instagram and Facebook (FB) “continued to be among the most downloaded apps of the year,”...

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HTC says licensing agreement with Apple will lead to better devices in 2013

Apple (AAPL) and HTC (2498) signed a 10-year licensing agreement in November that covered all current, pending and future patents and ended the ongoing litigation between the two companies. It has been estimated that the company will pay Apple between $6 and $8 for every Android device shipped, however HTC CEO Peter Chao refuted the claim. Regardless of how much is being spent, HTC China president...

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How to Sync All Your Calendars Onto One Smartphone

It’s a simple request: I just want my online calendars to sync with my smartphone… is that too much to ask? It took some initial research and finesse, but I’ve discovered the best ways to get your Yahoo and Google calendars to appear on either an Android or Apple IOS mobile device.Google Calendar on Android PhoneWhen you first set up your Android phone, you had to create or enter your Google account...

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Live Nation Chairman Azoff resigns; Liberty buys shares

 Irving Azoff, a legendary music manager who helped make stars out of The Eagles and Christina Aguilera, resigned as chairman of Live Nation Entertainment and sold some of his stake in the concert promotion giant to John Malone's Liberty Media Corp.Azoff is expected to start a new talent management agency, and is expected to take some of his former clients with him, according to a person familiar...

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Tribune exits bankruptcy with new TV-focused board

 More than four years after crushing debt and plunging advertising sales forced it to file for Chapter 11 bankruptcy protection, Tribune Co. has emerged with a new television-focused board and over $1 billion in new financing.Led by such creative and technology heavyweights as Ross Levinsohn, the former interim CEO of Yahoo Inc., and Peter Murphy, former strategic officer of The Walt Disney Co.,...

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Shaw CEO sells most of stake after shareholders ok CB&I deal

 James Bernhard, chief executive of engineering company Shaw Group Inc , has sold off most of his stake in the company he founded after shareholders approved a sale to Chicago Bridge and Iron Co NV this month.Late last week, Bernhard reduced his shareholding in Shaw to 143,356 shares from 1,131,603, according to filings with U.S. securities regulators on Monday, in a sale that would have raised...

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Best Buy loses two board directors

 Best Buy Co Inc said on Monday that two of its board directors had resigned, including one of its former chief executives, almost seven months after its founder, who is now mounting a bid for the struggling retailer, left the board.The departures will leave Best Buy with four vacancies on its 11-member board.The company's fortunes have faltered as consumers increasingly use its big box stores...

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Sharp considering raising $1.2 billion to beef up capital: media

 Struggling Japanese TV maker Sharp Corp is considering raising more than 100 billion yen ($1.2 billion) this spring to bolster its capital base, the Yomiuri newspaper reported on Tuesday.The debt-laden company, whose displays are used in Apple Inc's iPads and iPhones, was forced to seek a bailout from banks in September and has forecast a loss of 155 billion yen for the fiscal year to March...

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