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debt Economy PREPA Puerto Rico Top News WSJ 

Puerto Rico oversight board rejects $9 billion debt restructuring deal: WSJ

June 28, 2017 (Reuters) – The federal board overseeing Puerto Rico’s finances disapproved a $9 billion debt restructuring deal covering the bankrupt U.S. territory’s public power monopoly, The Wall Street Journal reported on Tuesday, citing people familiar with the matter. The proposal was rejected in a 4-3 vote, the Journal said. (http://on.wsj.com/2tiL1ru) Insurers of billions of dollars of Puerto Rican bonds had sued the island’s financial oversight board on Monday, saying that the board should be forced to approve the debt restructuring deal at Puerto Rico power utility PREPA and…

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Beijing China Foreign Ministry Economy North Korean Pyongyang Top News 

Exclusive: China’s CNPC suspends fuel sales to North Korea as risks mount – sources

June 28, 2017 By Chen Aizhu BEIJING (Reuters) – China National Petroleum Corp has suspended sales of fuel to North Korea over concerns the state-owned oil company won’t get paid, as pressure mounts on Pyongyang to rein in its nuclear and missile programmes, three sources told Reuters.        It’s unclear how long the suspension will last. A prolonged cut would threaten critical supplies of fuel and force North Korea to find alternatives to its main supplier of diesel and gasoline, as scrutiny of China’s close commercial ties with its increasingly…

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Facebook media network service Tech Top News 

Facebook hits 2 billion-user mark, doubling in size since 2012

June 28, 2017 By David Ingram SAN FRANCISCO (Reuters) – Facebook Inc said on Tuesday that 2 billion people are regularly using its flagship service, marching past another milestone in its growth from a college curiosity in the United States to the world’s largest social media network. Chief Executive Mark Zuckerberg disclosed the number to his followers in a Facebook post. “It’s an honor to be on this journey with you,” he wrote. (http://bit.ly/2sefWFL) The user base is bigger than the population of any single country, and of six of…

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Asia Business ECB reform bill Wall Street 

Asia stocks pressured as Wall St. hit by healthcare vote delay

June 28, 2017 TOKYO (Reuters) – Asian shares slumped on Wednesday after Wall Street was knocked hard in the wake of a delay to a U.S. healthcare reform vote, while the euro rallied after European Central Bank President Mario Draghi hinted that the ECB could trim its stimulus this year. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2 percent in early trading, while Japan’s Nikkei share average also slipped 0.2 percent. On Tuesday, the benchmark S&P 500 posted its biggest one-day drop in about six weeks and…

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Entertainment Michael Nyqvist series Stieg Larsson Sweden Top News 

Swedish actor Michael Nyqvist dies after lung cancer battle

June 28, 2017 (Reuters) – Swedish actor Michael Nyqvist, best known for a leading role in “The Girl with the Dragon Tattoo” Swedish film series, died in Sweden on Tuesday after a year-long battle with lung cancer, his representative said. He was 56. Nyqvist “passed away quietly surrounded by family” in Stockholm, his spokeswoman Alissa Goodman said in an emailed statement that called him “one of Sweden’s most respected and accomplished actors.” “Michael’s joy and passion were infectious to those who knew and loved him. His charm and charisma were…

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Business fraud media Retrophin Inc Shkreli Twitter 

‘Pharma bro’ Martin Shkreli’s notoriety slows New York jury selection

June 27, 2017 By Brendan Pierson NEW YORK (Reuters) – Jury selection in the New York trial of former drug company executive Martin Shkreli will enter its third day Wednesday, after some potential jurors said they could not be fair to a man who gained notoriety by raising the price of a life-saving drug more than 5,000 percent. U.S. prosecutors have accused Shkreli, dubbed the “pharma bro,” of running a Ponzi-like scheme at his former hedge fund and a drug company he once ran. Shkreli has pleaded not guilty to…

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Business Fed Kashkari Michigan month rates 

‘What’s the rush’ on interest rate hikes, asks Fed’s Kashkari

June 27, 2017 By Ann Saphir (Reuters) – With inflation low and wages showing little sign of an upward surge, the U.S. Federal Reserve should not be raising interest rates, Minneapolis Fed President Neel Kashkari said on Tuesday. “What’s the rush?” Kashkari asked at an event at Michigan Technological University in Houghton, Michigan, adding that neither wage nor inflation data is giving any sign that the economy is about to overheat and indeed may suggest that there is still some slack in the labor market. The Fed raised rates twice…

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attack cyber Europe report Tech Top News 

Cyber attacks have long-lasting business impact: Lloyd’s of London

June 27, 2017 LONDON (Reuters) – Businesses in Europe underestimate the “slow-burn” effects of cyber attacks and need to prepare more fully for a loss of customers, a fall in share price and other potential consequences, Lloyd’s of London said in a report on Wednesday. The risk of cyber attacks is rising and slow-burn effects are additional to short-term costs such as notifying customers, paying ransoms or public relations expenses, the report, written with consultants KPMG and law firm DAC Beachcroft, said. “There is a lack of understanding as to…

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AI Business New Enterprise Associates Silicon Valley Tech Top News 

Drive.ai raises $50 million in funding; Andrew Ng joins board

June 27, 2017 SAN FRANCISCO (Reuters) – Self-driving startup Drive.ai said on Tuesday it raised $50 million in a second round of funding as the Silicon Valley company prepared to deploy its technology in pilot vehicles later this year. The company, one of a handful of startups building fully autonomous systems for cars, also said it had added to its board Andrew Ng, a prominent figure in the artificial intelligence (AI) industry. Ng formerly led AI projects at Baidu and Alphabet’s Google. Ng is the husband of Drive.ai’s co-founder and…

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