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Reports: 3 dead in quake near Bologna

Italian news reports say three people have been killed in a 5.9-magnitude earthquake that struck northern Italy near Bologna.

Myanmar: New deal to end fighting with Shan rebels

Myanmar's Railway Minister and negotiator Aung Min, left, talks to journalists during a press conference with members of the Shan State Army (SSA) in Kengtung, Golden Triangle Region, near the Thai border, in eastern Shan State, Myanmar, Saturday, May 19, 2012. The Myanmar negotiator said ethnic Shan rebels have agreed in a second round of talks that there will be no more fighting between the guerrillas and government troops. (AP Photo/Khin Maung Win)A Myanmar negotiator says ethnic Shan rebels have agreed in a second round of talks to end fighting with army troops in the country's east, the latest reported deal between the new reformist government and various ethnic separatist movements.


Taiwan's Ma signals no China change as term starts

Protesters throw eggs at a portrait of Taiwan's President Ma Ying-jeou on his inauguration day, denouncing his policies, Sunday, May 20, 2012 in Taipei, Taiwan. Despite Ma's re-election in January, the island is greatly divided on his political and economic policies. (AP Photo/Wally Santana)Taiwan's president began his second term Sunday and signaled he will maintain a China policy that has reduced tensions between the sides, offering Beijing little early hope of realizing its long-term goal of unification.


Obama sees 'emerging consensus' on economic fix

President Barack Obama briefs journalists following the G-8 Summit Saturday, May 19, 2012 at Camp David, Md. (AP Photo/Charles Dharapak)Confronting an economic crisis that threatens them all, President Barack Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the European continent and put investors worldwide on edge.


G-8 warns North Korea about further provocations

From left, French President Francois Hollande, President Barack Obama and German Chancellor Angela Merkel make their way to a photo opportunity at the G-8 Summit Saturday, May 19, 2012 at Camp David, Md. (AP Photo/Charles Dharapak)The Group of Eight world leaders has warned North Korea that it faces more sanctions if it continues to threaten the stability of the region with provocative acts such as its failed long-range rocket launch in April.


Trapped Chinese coal miner rescued after 17 days

A Chinese coal miner has been rescued after being trapped underground for 17 days by an underground flood that killed at least 10 others.

Strong quake hits North Italy, at least three dead

BOLOGNA, Italy (Reuters) - A strong earthquake rocked a large swathe of northern Italy early on Sunday morning, causing at least three deaths and collapsing rural factories and ancient bell towers in towns. The epicenter of the quake, which struck at 4:04 a.m. (0204 GMT) and had a magnitude of 5.9, was in the plains near Modena. But it was felt in nearby regions. One person working a night shift died in the collapse of a factory and two others were killed in the collapse of another building. Rescue officials were checking reports that other people were buried under rubble. ...

NATO leaders seek common path out of Afghanistan

Canada's PM Harper and Britain's PM Cameron disembark from Harper's plane after arriving in Chicago ahead of the NATO SummitCHICAGO (Reuters) - NATO leaders gather in Chicago on Sunday for a summit that will chart a path out of Afghanistan, as Western nations seek to fend off fissures in their alliance and ensure Afghanistan can hold a still-potent Taliban at bay when foreign troops withdraw. President Barack Obama hosts the summit in his home town, Chicago, a day after leaders of major industrialized nations tackled Europe's debt crisis, backing keeping Greece in the euro zone and vowing to take steps necessary to revitalize the world economy. ...


Status update: Facebook's Mark Zuckerberg gets married

Facebook CEO Mark Zuckerberg and his girlfriend Priscilla Chan walk near Fuxing Road in Shanghai(Reuters) - Facebook co-founder and CEO Mark Zuckerberg wed longtime girlfriend Priscilla Chan on Saturday, announcing the nuptials through a status update on the social networking site. The 28-year-old billionaire's wedding took place a day after Facebook's initial public offering on the Nasdaq stock exchange on Friday. More than 280,000 people "liked" Zuckerberg's status change, which was accompanied by a photo of the smiling couple in wedding attire in a small, verdant outdoor setting with a string of lights behind them. ...


Transgender Miss Universe Canada contestant loses

Transgendered beauty queen Jenna Talackova appears in the Miss Universe Canada pageant in Toronto, on Saturday May 19, 2012. Talackova sparked global attention when she was initially disqualified from the pageant. (AP Photo/The Canadian Press,Chris Young)The first-ever transgender contestant to compete in the Miss Universe Canada pageant strutted the runway Saturday night, making it to the penultimate round before losing her bid to win the title.


Impatient Thai red shirts want justice from PM Yingluck

A red shirt supporter stands next to Laos police on guard during a merit-making ceremony for former Thai PM Thaksin at a temple in VientianeBANGKOK (Reuters) - Thailand's "red shirts" took to the street this weekend to mark the anniversary of the army's bloody repression of their mass rally in Bangkok in 2010 amid growing signs of a rift with the government they helped elect last July. Many red shirts are angry at the failure of Prime Minister Yingluck Shinawatra to bring to account those responsible for the 91 deaths during the 2010 events. Some are threatening action that could destabilise her government and start another period of political upheaval, after months of relative calm. ...


Facebook's Mark Zuckerberg weds on day after IPO

This photo provided by Facebook shows Facebook founder and CEO Mark Zuckerberg and Priscilla Chan at their wedding ceremony in Palo Alto, Calif., Saturday, May 19, 2012. Zuckerberg updated his status to A day after the historic Facebook IPO, founder and CEO Mark Zuckerberg updated his status Saturday to "married."


Two smaller unions agree deals with Lockheed

(Reuters) - Lockheed Martin Corp said on Saturday it had negotiated new contracts with two smaller unions at its Fort Worth, Texas plant, even as a strike by the larger machinists union stretched into a fifth week. Lockheed said about 70 members of the International Brotherhood of Electrical Workers (IBEW) on Friday ratified a new contract that would extend for four years. On Saturday, a new five-year contract was approved by 430 members of the Office and Professional Employees International Union (OPEIU). Both agreements take effect on Monday. ...

Facebook's Mark Zuckerberg marries sweetheart

This photo provided by Facebook shows Facebook founder and CEO Mark Zuckerberg and Priscilla Chan at their wedding ceremony in Palo Alto, Calif., Saturday, May 19, 2012. Zuckerberg updated his status to Facebook founder and CEO Mark Zuckerberg updated his status to "married" on Saturday.


Blind Chinese activist Chen arrives in New York

Blind Chinese dissident Chen Guangcheng is helped from a vehicle as he arrives in New YorkNEW YORK (Reuters) - Blind Chinese dissident Chen Guangcheng arrived in the United States on Saturday and declared "equality and justice have no boundaries" after China let him leave a Beijing hospital to quell a sensitive diplomatic rift between the two countries. Chen escaped from house arrest in northeastern China last month and sought refuge in the U.S. Embassy in Beijing, embarrassing China and creating an uncomfortable backdrop for U.S. Secretary of State Hillary Clinton's visit to improve ties between the world's two biggest economies. ...


Google says it has China's approval for Motorola deal

Women walk past the logo of Google in front of its former headquarters in Beijing(Reuters) - Google said on Saturday that Chinese authorities have approved its $12.5 billion purchase of Motorola Mobility Holdings, the last regulatory hurdle to a deal that would allow the world's No. 1 Internet search engine to develop its own line of smart phones. Google, which will be the newest entrant to the handset market, announced plans for the acquisition last year in a bid to secure Motorola's valuable patents and pave the way for a pairing of Google's Android mobile software and Motorola's handset business. U.S. ...


Thousands mark 'Red Shirt' crackdown in Bangkok

Manifestantes oran durante un acto en la Intersección Ratchaprasong en Bangkok, Tailandia, sábado 19 de mayo de 2012. Los Camisas Rojas recordaron el segundo aniversario de la represión de su movimiento por el ejército, el mayor acto de violencia en el país desde el golpe militar de 2006 que derrocó al primer ministro Thaksin Shinawatra. (AP Photo/Sakchai Lalit)Monjes budistas encabezaron las oraciones de decenas de miles de personas que se congregaron en la capital tailandesa el sábado, en el segundo aniversario de los mortíferos choques entre soldados y los manifestantes "Camisas Rojas".


World leaders back Greece, vow to combat financial turmoil

G8 leaders speak at the start of the first working session of the G8 Summit at Camp DavidCAMP DAVID, Maryland (Reuters) - World leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil while revitalizing a global economy increasingly threatened by Europe's debt crisis. A summit of the G8 leading industrialized nations came down solidly in favor of a push to balance European austerity - an approach long driven by German Chancellor Angela Merkel - with a new dose of U.S.-style stimulus seen as vital to healing ailing euro-zone economies. But it was clear that divisions remained. ...


UK may keep troops in Afghanistan post-2014 to fight terrorism

A British Army soldier waves to Afghan children during a patrol outside Patrol Base Chilli near Lashkar Gah in Helmand provinceCAMP ROUND MEADOW, Maryland (Reuters) - Britain may keep a small number of soldiers in Afghanistan to fight terrorism after 2014, when NATO forces are due to end combat operations, a senior British government official said on Saturday. It is the first time Britain has given any indication it may keep forces in Afghanistan after 2014 apart from a small training contingent. Britain plans to withdraw 500 soldiers from its 9,500-strong force in Afghanistan this year before ending combat operations in 2014 when Afghan security forces are due to have taken over responsibility for security. ...


G8, raising pressure on Iran, puts oil stocks on standby

French President Hollande, U.S. President Obama, Britain's Prime Minister Cameron, Russia's Prime Minister Medvedev and Germany's Chancellor Merkel at the start of the first working session of the G8 Summit at Camp DavidCAMP DAVID, Maryland (Reuters) - Leaders of the Group of Eight major economies raised the pressure on Iran on Saturday, signaling their readiness to tap into emergency oil stockpiles quickly this summer if tougher new sanctions on Tehran threaten to strain supplies. "We remain united in our grave concern over Iran's nuclear program," the G8 leaders said in a statement summing up the results of their meeting in Camp David in rural Maryland. ...


Greeks' crisis is personal as well as political

Like many Greeks left unemployed by their country's economic tailspin, Dimitris Spachos finds it easier to talk about his nation's problems than his own.

Bomb kills 1 student, wounds 7 in Italy

Notebooks are seen scattered at the site where an explosive device went off near the A bomb exploded outside an Italian high school named after the wife of an assassinated anti-Mafia prosecutor, killing one student and wounding at least seven others, officials said.


Chinese activist who fled house arrest lands in US

Chinese activist Chen Guangcheng, in a wheelchair, is helped to head to a commercial flight Saturday, May 19, 2012 at Beijing International Airport in Beijing. Chen was hurriedly taken from a hospital Saturday and boarded a plane that took off for the United States, closing a nearly monthlong diplomatic tussle that had tested U.S.-China relations. (AP Photo/Kyodo News) JAPAN OUT, MANDATORY CREDIT, NO LICENSING IN CHINA, HONG KONG, JAPAN, SOUTH KOREA AND FRANCEA blind Chinese legal activist who was suddenly allowed to leave the country arrived in the U.S. on Saturday, ending a nearly monthlong diplomatic tussle that had tested U.S.-China relations.


Youth protest former Mexican ruling party's rise

University students gesture during protest against censorship and biased reporting by media in campaign before presidential elections of July 1, in Mexico CityMEXICO CITY (Reuters) - Thousands of demonstrators protested in Mexico City on Saturday against opposition presidential candidate Enrique Pena Nieto, who is far ahead in polls and poised to lead the party that ruled Mexico for much of the 20th century back to power. A contingent of mainly students, accompanied by groups of unionized workers and peasant farmers, held banners lambasting the Institutional Revolutionary Party, or PRI, and its candidate, Pena Nieto. "I have a brain, I won't vote for the PRI," one banner read. ...


Yemen clashes kill 34 militants, soldiers: officials

A defected army soldier, backing anti-government protesters, mans a machine gun atop a military vehicle securing a road where protesters are holding a rally and the weekly Friday prayers in SanaaADEN, Yemen (Reuters) - At least 22 al Qaeda-linked militants and 12 Yemeni soldiers were killed in clashes and air strikes overnight during a U.S.-backed offensive against insurgents in the south of the country, officials said on Saturday. Fighting erupted late on Friday and carried on into Saturday on the outskirts of the southern city of Jaar, held by Islamist militants who have stepped up their campaign during months of political turmoil. Government troops, backed by U.S. ...


Seaway pipeline sends oil to Texas in historic reversal

HOUSTON (Reuters) - The Seaway pipeline began pumping crude from Cushing, Oklahoma, oil tanks to the heart of the U.S. refining industry in Houston on Saturday, marking a historic shift in the way oil flows across the United States. The first barrels went into the line about noon CDT (1700 GMT) Saturday and volumes were expected to increase within days to 150,000 barrels per day (bpd), spokesman Rick Rainey of operating partner Enterprise Products said by email. Enbridge Inc is a 50 percent partner in the project. ...

Google gets China OK for Motorola deal

FILE - In this May 11, 2011 file photo, attendees chat at the Google IO Developers Conference in San Francisco. Authorities in China have approved Google Inc.'s bid to buy phone maker Motorola Mobility, clearing the way for the $12.5 billion deal to close early next week. The Chinese government approved the deal on Saturday, May 19, 2012, Google spokeswoman Niki Fenwick said. (AP Photo/Marcio Jose Sanchez, File)Authorities in China have approved Google Inc.'s bid to buy phone maker Motorola Mobility, clearing the way for the $12.5 billion deal to close early next week.


Russia Sberbank sees sale certainty after government formed

CEO of Russian Sberbank Gref attends a plenary session of the World Economic Forum in ViennaWASHINGTON (Reuters) - Europe's second largest lender Russia's Sberbank will see some certainty over the planned privatization sale after the new Russian government's lineup is announced on May 21, CEO German Gref said on Saturday. Sberbank initially planned the sale of the 7.6 percent stake, part of Russia's ambitious privatization program, last September but postponed the deal after global risk aversion wiped around $1.5 billion off the stake's value. "It seems to me that, yes, such certainty should emerge (after the cabinet announcement)," Gref said. ...


Google says it won China's approval for Motorola deal

Women walk past the logo of Google in front of its former headquarters in Beijing(Reuters) - Google said on Saturday that Chinese authorities have approved its $12.5 billion purchase of Motorola Mobility Holdings, the last regulatory hurdle to a deal that would allow the world's No. 1 Internet search engine to develop its own line of smart phones. Google, which will be the newest entrant to the handset market, announced plans for the acquisition last year in a bid to secure Motorola's valuable patents and pave the way for a pairing of Google's Android mobile software and Motorola's handset business. U.S. ...


Obama, G-8: Recovery takes both growth and cutting

World leaders walk to the family photo session at the G-8 Summit at Camp David, Md., Saturday, May 19, 2012. From left are Italian Premier Mario Monti, British Prime Minister David Cameron, German Chancellor Angela Merkel, U.S. President Barack Obama, French President Francois Hollande, Canadian Prime Minister Stephen Harper, Japanese Prime Minister Yoshihiko Noda, Russian Prime Minister Dmitri Medvedev and European Commission President Jose Manuel Barroso. (AP Photo/Philippe Wojazer, Pool)Confronting an economic crisis that threatens them all, President Barack Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the European continent and put investors worldwide on edge.


Syria bomb kills 9, Damascus blames foreign plot

Residents and security personnel gather at the site of an explosion in Deir Al-ZourBEIRUT (Reuters) - A car bomb killed nine people at a Syrian military post in the eastern city of Deir al-Zor on Saturday, an attack the government said was the latest proof that an uprising against President Bashar al-Assad was a foreign plot. The official SANA news agency said the blast had been the work of a suicide bomber, and had also wounded about 100 people, including guards, at what it called military installations. International pressure and an U.N.-backed peace plan has failed to quell Syria's turmoil. ...


Obama wants new banking rules put in place soon

President Barack Obama waves as he walks from the White House in Washington, Friday, May 18, 2012, to board Marine One, as he travels to Camp David for the G8 Summit. (AP Photo/Carolyn Kaster)President Barack Obama says the big trading loss at JPMorgan Chase shows the need to finally put in place banking rules he signed into law two years ago. He also is calling on Congress to stop trying to weaken the regulations.


Fire risk prompts recall of nearly 87,000 Jeeps

Chrysler is recalling nearly 87,000 Jeep Wranglers in the U.S., Canada and elsewhere due to a risk of fires.

Obama: G-8 leaders put focus on eurozone crisis

French President Francois Hollande, left, listens as U.S. President Barack Obama speaks at the start of the first working session of the G8 Summit at Camp David, Md., Saturday May 19, 2012. (AP Photo/Philippe Wojazer, Pool)The United States and other members of the Group of Eight industrial nations agree that Europe's financial crisis must be addressed with a mix of growth and austerity measures, President Barack Obama said Saturday as leaders gathered for a shirt-sleeve discussion that also will cover world concerns about ups and downs in oil prices.


20,000 march at Frankfurt Occupy protest rally

German police officers escort an anti-capitalism protest march with some 20,000 people in Frankfurt, Germany, Saturday, May 19, 2012. Protesters peacefully filled the city center of continental Europe's biggest financial hub in their protest against the dominance of banks and what they perceive to be untamed capitalism, Frankfurt police spokesman Ruediger Regis said. The protest group calling itself Blockupy has called for blocking the access to the European Central Bank, which is located in Frankfurt's business district. (AP Photo/Michael Probst)At least 20,000 people held a major rally of the local Occupy movement in Frankfurt on Saturday to decry austerity measures affecting much of Europe, the dominance of banks, and what they call untamed capitalism.


Obama to Congress: Put in place banking rules now

President Barack Obama waves as he walks from the White House in Washington, Friday, May 18, 2012, to board Marine One, as he travels to Camp David for the G8 Summit. (AP Photo/Carolyn Kaster)President Barack Obama says the big trading loss at JPMorgan Chase shows the need to finally put in place banking rules he signed into law two years ago. He also is calling on Congress to stop trying to weaken the regulations.


Audi eyes management reshuffle: CEO in magazine

FRANKFURT (Reuters) - Volkswagen's Audi division is looking into a management reshuffle as it eyes an expansion in China, Latin America and the United States, the unit's head told a German magazine. "Against the backdrop of Audi's 'Strategy 2020' it would be negligent not to think about the team line-up," Audi Chief Executive Rupert Stadler told WirtschaftsWoche in an excerpt of an article made available to Reuters on Saturday. There were "of course" discussions about organization and structure in this context but decisions have not yet been taken, he added. ...

Obama pledges tough enforcement of Wall Street reforms

U.S. President Barack Obama walks to welcome guests at the G8 summit in Camp DavidPresident Barack Obama on Saturday called on the U.S. Congress to back his efforts for tough new financial industry oversight, saying a $2 billion trading loss at JPMorgan underscored the need for such regulation. "We've got to finish the job of implementing this reform and putting these rules in place," Obama said in a weekly radio address that accused some on Wall Street of causing the 2007-2009 economic crisis because they "treated our financial system like a casino. ...


Manulife, Metlife submit bids for ING Asia sale: sources

HONG KONG (Reuters) - Manulife Financial Corp and Metlife are among the companies that have submitted first round bids for ING's entire Asia life insurance business, sources said on Saturday, in what could be the largest Asia M&A insurance deal ever. ING's long awaited sale of Asian life insurance and the asset management units will help the Dutch bancassurer to partly repay the 3 billion euros ($3.81 billion) of state aid plus the 50 percent premium it still owes the Dutch government. The bids were submitted late on Friday and the indicative offers ranged between 6-7 billion euros ($7.6-$8. ...

CFTC opens probe into JPMorgan trading loss: source

(Reuters) - The Commodity Futures Trading Commission (CFTC) has opened an investigation into possible wrongdoing at JPMorgan Chase & Co in connection with the bank's multi-billion-dollar trading loss, a source familiar with the probe told Reuters. The agency will soon disclose the existence of the investigation, the source said on Friday. Earlier on Friday, the New York Times reported that the CFTC had opened an enforcement case, quoting people briefed on the matter. The CFTC would join the FBI and the U.S. ...

Dewey to consider bankruptcy filing: source

A man moves boxes out of the offices of Dewey & LeBoeuf in New YorkNEW YORK (Reuters) - Ailing law firm Dewey & LeBoeuf is considering a bankruptcy filing as new debtholders take a more aggressive track, shifting away from earlier attempts at an out-of-court liquidation, a person familiar with the matter said on Friday. The majority of Dewey's partners have quit as a result of concerns about compensation, and $225 million in bank loans and bond debt. ...


Morgan Stanley made big bet on Facebook

NEW YORK (Reuters) - Lead Facebook Inc underwriter Morgan Stanley took a bet earlier this week when it increased the size of the social networking firm's $16 billion initial public offering and it boosted the price. Thanks to massive hype surrounding Facebook's historic public offering, the wager looked safe. But a rocky first day of trading has raised questions about whether it paid off. After a delayed start to trading, Facebook's shares spent much of the day struggling to stay above the $38 IPO price - and ended with just a 23-cent gain. ...

Historic Facebook debut falls flat

Recent activity lists SAN FRANCISCO (Reuters) - The historic initial public offering of Facebook Inc did not go as planned on Friday, as the social networking company's sky-high valuation combined with trading glitches left the stock languishing near its offering price at the market close. Facebook shares began trading late Friday morning and opened 11 percent above the $38 offering price, but after peaking at about $45 slid rapidly at the end of the day to close at $38.23. The IPO was the third-largest in U.S. history and valued eight-year-old Facebook at $104 billion. ...


Hedge funds dump $2 billion in gold over a week: CFTC

Gold Bullion from the American Precious Metals Exchange (APMEX) is seen in New YorkNEW YORK (Reuters) - Hedge funds and other money managers liquidated more than $2 billion in gold futures over a week, trade data on Friday showed, before a forceful rebound in the precious metal potentially tripped up some of them. The majority of fund managers also appear to have bet wrongly against wheat, as suggested by the data from the Commodity Futures Trading Commission which showed a net "short" or bearish position against the grain which finished this week with its highest weekly gain in 16 years. "It's still early to say if this rebound in wheat and gold will hold. ...


U.S. says will bar some Motorola Mobility phones

The Motorola PHOTON 4G Summer and the Motorola TRIUMPH Virgin Mobile Summer mobile phones are seen in New YorkWASHINGTON (Reuters) - Some Motorola Mobility smartphones infringe on a Microsoft patent and will be barred from importation to the United States, a U.S. trade panel said on Friday. The order by the U.S. International Trade Commission has been sent to President Barack Obama, who has 60 days to consider whether to overturn it for policy reasons. The legal fight at the ITC is one of dozens globally between various smartphone makers. Google's Android system has become the top-selling smartphone operating system, ahead of mobile systems by Apple, Microsoft, Research in Motion and others. ...


Solow lawsuit over Citigroup disclosures dismissed

Citigroup CEO Pandit, EIU Director Abruzzese and New York Mayor Bloomberg announce that New York City has been named The World's Most Competitive City by Economist Intelligence Unit in New York(Reuters) - Citigroup Inc and its Chief Executive Vikram Pandit on Friday won a dismissal of New York real estate developer Sheldon Solow's lawsuit accusing them of securities fraud for hiding the bank's risks during the 2008 financial crisis. U.S. District Judge Robert Sweet in Manhattan said Solow failed to show that the defendants had materially misled him about Citigroup's liquidity and capitalization, or that his stock losses were caused when the bank's risks were realized. Sweet had in November dismissed an earlier version of Solow's complaint, but gave the plaintiff a chance to replead. ...


Wall St Week Ahead: The market is oversold, but major signs say "sell"

The U.S. flag hangs outside the New York Stock ExchangeNEW YORK (Reuters) - Normally a big decline would set up Wall Street for a technical rebound. But that may not be the case next week, even after the market posted its worst weekly loss for the year and the S&P fell for six straight sessions. With the corporate earnings season drawing to an end and recent U.S. economic data raising doubts about the pace of growth, the S&P 500, which is down 7.3 percent so far in May, could decline further next week as concerns about the financial health of Europe persist. ...


UAW president sets goal to stem money losses by 2014

NEW YORK (Reuters) - The United Auto Workers aims to break even by mid-2014, as the American union looks to bolster its political and bargaining clout. For the past five years, the UAW has relied heavily on selling its war chest of stocks, bonds and property to bridge the gap between its annual funding and costs. The union believes this approach is untenable in the long run and its goal is to "have it turned around" in two years by adding members and managing costs, UAW President Bob King said in an interview on Friday. ...

Under pressure, Chesapeake cuts director pay

To match Special Report CHESAPEAKE-MCCLENDON/LOANS(Reuters) - Chesapeake Energy Corp , under growing pressure from shareholders to improve corporate governance, reduced the compensation for its outside directors by 20 percent and eliminated their use of its aircraft for personal travel, the company said on Friday. Chesapeake and its board have come under fire in recent weeks after Reuters reported, among other things, that Chesapeake CEO Aubrey McClendon had taken out more than $1 billion in previously undisclosed loans using his interest in company wells. ...


GM passes on running TV ads during 2013 Super Bowl

A General Motors logo is seen on a Denali vehicle for sale at the GM dealership in CarlsbadDETROIT (Reuters) - General Motors Co will not advertise in next year's Super Bowl because it is too expensive, the top marketing executive for the U.S. automaker said three days after the company announced it was dropping paid ads on Facebook Inc. The 2013 Super Bowl will be broadcast by CBS Corp, which is selling 30-second ads for as much as $4 million. Spots on NBC's broadcast of this year's National Football League championship game, the most heavily watched annual event on U.S. television, cost about $3.5 million per 30-second spot. NBC is majority-owned by Comcast Corp. ...


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