UK banks ditching fintech, foreign customers to cut costs
By Huw Jones LONDON (Reuters) - Banks are ditching customers such as financial technology firms and foreign nationals to cut the cost of complying with tougher capital and anti-money laundering rules, an independent study for Britain's markets watchdog said on Tuesday. The Financial Conduct Authority (FCA), which commissioned the 73-page study of how banks were lowering their risk, warned lenders on Tuesday they could fall foul of competition law if they refuse new business or close accounts without good reason. Lenders have also been fined hefty sums for breaching anti money-laundering rules.
05/24/2016 - 07:34 AM
Apple boss Tim Cook: Apps are future of TV
AMSTERDAM (AP) — Apple CEO Tim Cook said Tuesday that apps are the future of television and that the company wants to help change the entertainment industry.
05/24/2016 - 07:29 AM
Ginger Zee shines on 'Dancing with the Stars' despite injury
LOS ANGELES (AP) — Ginger Zee's ailing back didn't seem to affect her much during the first half of the two-night season finale of ABC's "Dancing with the Stars."
05/24/2016 - 07:27 AM
Angelina Jolie to teach at London School of Economics
LONDON (AP) — Oscar-winning actress and activist Angelina Jolie has been appointed a visiting professor at one of Britain's most prestigious universities.
05/24/2016 - 07:25 AM
Deal reached to save US gambling mecca from bankruptcy
Lawmakers in the state of New Jersey have reached a deal to prevent the east coast gambling mecca of Atlantic City from sinking into bankruptcy. News of the agreement at New Jersey's Assembly Judiciary Committee was announced late Monday on Twitter by the assembly's head and his counterpart in the state senate, both of them Democrats. According to the local Press of Atlantic City, the agreement is a compromise between rival plans of the two New Jersey politicians.
05/24/2016 - 07:18 AM
Greece starts evacuating squalid Idomeni migrant camp
Hundreds of Greek police Tuesday began clearing the overcrowded Idomeni camp, a migrant flashpoint where thousands of desperate refugees have been living for months in squalid conditions. The overcrowded and muddy camp on the Macedonia border has become a potent symbol of the human suffering and chaos as Europe struggles to cope with its worst migrant crisis since World War II. There has not been any need to use force," government migration spokesman Yiorgos Kyritsis told AFP.
05/24/2016 - 07:16 AM
Seven Ukrainian soldiers killed in war-torn east
Seven Ukrainian soldiers have died in the war-torn east over the past 24 hours, the biggest casualty toll in a single day this year, Kiev said on Tuesday. The latest violence came as the leaders of France, Germany, Russia and Ukraine called for the implementation of a peace deal in the separatist east during late-night talks Monday. "As a result of shelling, seven Ukrainian soldiers have died and nine received injuries over the past 24 hours," Oleksandr Turchynov, secretary of Ukraine's National Security and Defence Council, said in a statement.
05/24/2016 - 07:04 AM
Greece starts moving migrants camped at border to state facilities
By Phoebe Fronista and Fedja Grulovic IDOMENI, Greece (Reuters) - Greek police on Tuesday started moving some of the 8,000 migrants and refugees stranded in a makeshift camp on the sealed northern border with Macedonia to state-run facilities further south. At one point more than 12,000 lived there after several Balkan countries shut their borders in February, barring migrants and refugees from central and northern Europe. Greek authorities said they planned to move individuals gradually to state-supervised facilities further south which currently have capacity of about 5,000 people.
05/24/2016 - 07:00 AM
The Latest: Kerber loses in 1st round at French Open
PARIS (AP) — The Latest on the French Open (all times local):
05/24/2016 - 06:58 AM
Turkey's pro-Erdogan PM unveils new cabinet lineup
Turkey's incoming Prime Minister Binali Yildirim on Tuesday unveiled his new cabinet line-up two days after being given a mandate by President Recep Tayyip Erdogan, with most key ministers keeping their jobs but the EU minister switched. The new cabinet is packed with Erdogan loyalists following the resignation of outgoing premier Ahmet Davutoglu, but contained fewer radical changes than some had predicted.
05/24/2016 - 06:58 AM
SWIFT to unveil new security plan after hackers' heists
By Huw Jones and Tom Bergin LONDON (Reuters) - The SWIFT secure messaging service that underpins international banking said on Tuesday it plans to launch a new security program as it fights to rebuild its reputation in the wake of the Bangladesh Bank heist. The Society for Worldwide Interbank Financial Telecommunication (SWIFT)'s chief executive, Gottfried Leibbrandt, told a financial services conference in Brussels that SWIFT will launch a five-point plan later this week. In February, thieves hacked into the SWIFT system of the Bangladesh central bank, sending messages to the Federal Reserve Bank of New York allowing them to steal $81 million.
05/24/2016 - 06:47 AM
Bank of England policymakers appear before parliament
Bank of England Governor Mark Carney and Monetary Policy Committee members Ben Broadbent, Gertjan Vlieghe and Martin Weale are appearing in front of parliament's Treasury Select Committee to answer questions. The focus of the questions was on issues related to Britain's June 23 referendum on whether to remain in the European Union, and what the Bank of England has said or will say about that. MARK CARNEY WHAT THE BANK MIGHT SAY BEFORE EU REFERENDUM: "We in my judgment have highlighted the key economic issues around, including short-term uncertainty and the potential change in the trade-off between output and inflation, so I would not expect something substantially different to be said (after the MPC's June 16 meeting).
05/24/2016 - 06:46 AM
Turkey's Erdogan approves new government led by ally
ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan on Tuesday approved a new government formed by one of his most trusted allies, who immediately asserted his intention to institute constitutional reforms that would expand the powers of the presidency.
05/24/2016 - 06:44 AM
Writings by Mother Teresa to be published in August
NEW YORK (AP) — A collection of previously unreleased writings by Mother Teresa is coming out in August, weeks before the late Nobel Peace Prize winner is to be canonized.
05/24/2016 - 06:44 AM
Hawaii could be first to put gun owners in federal database
HONOLULU (AP) — Hawaii could become the first state in the United States to enter gun owners into an FBI database that will automatically notify police if an island resident is arrested anywhere else in the country.
05/24/2016 - 06:42 AM
Ronaldo limps out of training days before Champions League final
Doubts over Cristiano Ronaldo's fitness for Real Madrid's Champions League final against Atletico Madrid on Saturday intensified after the three-time World Player of the Year limped off towards the end of training on Tuesday. Ronaldo has been dogged by a persistent thigh injury which forced him to miss three games last month. The Portuguese also came off at half-time of Real's final La Liga game of the season -- having scored twice in the first-half to take his tally for the season to 51 -- at Deportivo la Coruna 10 days ago.
05/24/2016 - 06:42 AM
5 dead after skydiving tour plane crashes in Hawaii
HONOLULU (AP) — Five people died after a skydiving tour plane crashed and caught fire in Hawaii, one of two plane crashes reported Monday in the islands.
05/24/2016 - 06:40 AM
Rory McIlroy concerned about Zika ahead of Olympics
LONDON (AP) — Rory McIlroy has concerns about the Zika virus as he prepares to play at the Rio de Janeiro Olympics.
05/24/2016 - 06:37 AM
Helen Hunt mistaken for Jodie Foster by barista
Helen Hunt says a confused barista mixed her up with fellow Oscar-winning actress Jodie Foster.
05/24/2016 - 06:36 AM
AP Interview: Qatar energy minister wants 'fair' oil price
DOHA, Qatar (AP) — The oil market is slowly recovering from its steep drop over the past two years but crude is still not trading at a "fair price" to encourage necessary investment, Qatar's energy and industry minister said Tuesday, ahead of next week's meeting of OPEC producers.
05/24/2016 - 06:32 AM
EgyptAir remains point to blast, no explosives traces so far -forensics
Human remains retrieved from the crashed EgyptAir flight suggest that there was an explosion on board the plane, although no traces of explosives have been detected, an Egyptian forensics official and investigation sources said on Tuesday. The official based his assessment on the small size of body parts so far recovered from the Mediterranean Sea, where EgyptAir flight 804 crashed on Thursday. “The size of the remains points towards an explosion, the biggest part was the size of a palm,” the forensics official said, adding that about 23 bags of body parts had been collected since Sunday.
05/24/2016 - 06:31 AM
Bank of England's Carney, under fresh fire, defends message on Brexit risk
By David Milliken and Ana Nicolaci da Costa LONDON (Reuters) - Bank of England Governor Mark Carney defended the central bank's decision to flag the risks of leaving the European Union on Tuesday, hitting back at one of his toughest critics who has called for him to resign. Carney said the outcome of the June 23 referendum could require the Bank to make a big reassessment to how it sets interest rates, something it needed to explain to businesses and households. The BoE has angered campaigners who want Britain to leave the EU by talking of the risk of a sharp slowdown in economic growth and a rise in inflation.
05/24/2016 - 06:31 AM
'Remain' leading 'Leave' by 13 percent points ahead of UK's EU referendum - ORB poll
The "Remain" camp holds a 13-point lead over "Leave" rivals in Britain's EU referendum campaign, after winning support for the first time from a majority of men, those aged over 65 and Conservative voters, according to a poll published on Tuesday. The three voter groups of men, older people and Tory supporters had all favoured leaving the European Union when they were surveyed in March, the newspaper said, but a majority of each now backed "Remain". Amongst all voters, those wanting to stay in the European Union had a 20-point lead with 58 per cent of voters saying they backed the pro-EU campaign, the survey of 800 voters carried out between May 18 and 22 found.
05/24/2016 - 06:23 AM
Defeated right-wing Austrian president hopeful urges unity
VIENNA (AP) — Norbert Hofer, the right-winger who lost only narrowly to a pro-EU rival in Austrian presidential elections, has joined the winner in asking all citizens to try to overcome the ideological divisions that led to the close contest.
05/24/2016 - 06:20 AM
Iraq forces shell Falluja for second day; U.N. concerned for civilians
By Saif Hameed BAGHDAD (Reuters) - Iraqi forces shelled Islamic State targets in Falluja on Tuesday, the second day of an assault to retake the militant stronghold just west of Baghdad. As the government sought to ease international concerns about the risk to civilians, residents in the city, 50 km (30 miles) west of the capital, reported sporadic shelling around the city centre, but said it was less intense than on Monday. Some 100,000 civilians are estimated to be in Falluja which, in January 2014, became the first Iraqi city to be captured by Islamic State, six months before the group declared its caliphate.
05/24/2016 - 06:17 AM
The Latest: Russia calls for temporary truce near Damascus
BEIRUT (AP) — The Latest on the violence in Syria a day after deadly attacks claimed by the Islamic State group targeted government strongholds (all times local):
05/24/2016 - 06:09 AM
10 Things to Know for Today
Your daily look at late-breaking news, upcoming events and the stories that will be talked about today:
05/24/2016 - 06:05 AM
UK actor Ian McKellen: 'India needs to grow up' about gays
MUMBAI, India (AP) — British actor Ian McKellen has criticized India's use of a British colonial law to crack down on homosexuals, saying in an interview with a Mumbai newspaper published Tuesday that "India needs to grow up."
05/24/2016 - 06:04 AM
Greek police evacuate hundreds from Idomeni refugee camp
IDOMENI, Greece (AP) — Greek authorities sent hundreds of police into the country's largest informal refugee camp Tuesday to support the gradual of evacuation of the Idomeni site on the Macedonian border.
05/24/2016 - 05:59 AM
Forensic official: EgyptAir 804 human remains suggest blast
CAIRO (AP) — Human remains retrieved from the crash site of EgyptAir Flight 804 suggest there was an explosion on board that may have brought down the aircraft in the east Mediterranean, a senior Egyptian forensics official said on Tuesday.
05/24/2016 - 05:57 AM
Johnny Depp's daughter, Lily-Rose, face of new Chanel scent
CANNES, France (AP) — Chanel has tapped Johnny Depp's 16-year-old daughter, Lily-Rose, to represent a new perfume.
05/24/2016 - 05:56 AM
Swiss approve dissolution of bank in Malaysia scandal
Swiss financial regulators approved Tuesday the dissolution of Lugano-based BSI Bank over its links to a corruption scandal engulfing Malaysia's Prime Minister Najib Razak. Swiss supervisor FINMA accused BSI, a merchant bank, of "serious breaches" of money-laundering regulations in its dealings with the Malaysian sovereign wealth fund 1MDB, which is at the heart of the corruption allegations. In the toughest punitive action yet announced in the affair, FINMA said in a statement it was approving the takeover of the merchant bank by Zurich-based private banking group EFG International on the condition that BSI is integrated "and thereafter dissolved" within 12 months.
05/24/2016 - 05:53 AM
Europe courts Algerian gas cooperation
By Patrick Markey and Lamine Chikhi ALGIERS (Reuters) - Officials from Algeria, the European Union and energy firms meet in Algiers on Tuesday in an attempt to get their energy cooperation back on track and find ways to pump more gas north again after years of dwindling exports. Algeria is seen as a natural partner for the European Union as it looks to diversify energy supplies after the Ukraine conflict once again exposed the risks of relying too much on the bloc's top supplier, Russia. In 2013, the EU estimated Algeria exported 25 billion cubic metres (bcm) of natural gas via pipelines to Spain and Italy, or less than half the capacity of 54 bcm, while it exported 15 bcm of liquefied natural gas out of capacity of 40 bcm.
05/24/2016 - 05:50 AM
South African shanty-town demolition sparks riots, two guards killed
The demolition of shacks north of the South African capital Pretoria triggered riots on Monday and overnight in which two security guards were killed, police said on Tuesday. Four people had been arrested and would be charged with public violence while a fifth faced a charge of murder, police spokesman Tsekiso Mofokeng said. Poverty, a swelling population and migration from the countryside is aggravating a shortage of urban housing in South Africa, leading to sprawling informal settlements springing up.
05/24/2016 - 05:45 AM
Obama prods Vietnam on rights after activists stopped from meeting him
By Matt Spetalnick and Martin Petty HO CHI MINH CITY, Vietnam (Reuters) - U.S. President Barack Obama chided Vietnam on political freedoms on Tuesday after critics of the communist-run government were prevented from meeting him in Hanoi, a discordant note on a trip otherwise steeped in words of amity between the former foes. Obama announced on Monday that Washington was scrapping its embargo on the sale of lethal arms to Vietnam, clearing the biggest hurdle remaining between two countries that have been drawn together by concern over China's military build-up. Critics said that by removing the ban, a vestige of the Vietnam War, Washington had put concerns about Beijing's assertiveness in the South China Sea first and given up a critical lever to push Hanoi for an improvement in human rights.
05/24/2016 - 05:43 AM
In Iran, dividends of nuclear deal are slow to appear
By Samia Nakhoul and Richard Mably TEHRAN (Reuters) - Hopes that Iran would quickly reintegrate with world markets after its nuclear deal, bringing investment and opportunities to a young population, are turning to frustration. An opaque business environment in Iran and political uncertainty in the United States are to blame. Tehran’s hotels are buzzing with businessmen keen for a slice of a big new emerging market, more industrially developed than most oil and gas-rich nations but isolated since the 1979 Islamic Revolution that turned Iran into a pariah state for most of the West and many of its Middle Eastern neighbors.
05/24/2016 - 05:30 AM
Obama implores Vietnam to embrace human rights
US President Barack Obama told communist Vietnam on Tuesday that basic human rights would not jeopardise its stability, in an impassioned appeal for the one-party state to abandon authoritarianism. In a sweeping speech, which harked back to the bloody war that defined both nations but also looked to the future, Obama said that "upholding rights is not a threat to stability". Vietnam ruthlessly cracks down on protests, jails dissidents, bans trade unions and controls local media.
05/24/2016 - 05:29 AM
2 killed in South African protests against eviction
JOHANNESBURG (AP) — South African authorities say two people have died in violent protests by residents opposing plans to evict them from makeshift homes in an area north of Pretoria.
05/24/2016 - 05:29 AM
Swiss bank to be shut over Malaysia embezzlement scandal
GENEVA (AP) — A Swiss private bank will face criminal proceedings and be liquidated after allegedly committing serious breaches of anti-money laundering regulations in connection with the suspected embezzlement of a Malaysian state investment fund.
05/24/2016 - 05:24 AM
China's Baofeng says investment group has bought 65 pct of MP & Silva
SHANGHAI, May 24 (Reuters) - A Chinese investment group has bought a 65 percent stake in Italy-owned sports media rights group MP & Silva, one of the investors Beijing Baofeng Technology Co Ltd said in a filing on Tuesday. Reuters earlier reported, citing a source familiar with the matter, that China Everbright and Beijing Baofeng were set to buy around a 60 percent stake in MP & Silva, valuing the company at just over $1 billion. (Reporting by Adam Jourdan; Editing by Jacqueline Wong)
05/24/2016 - 05:20 AM
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