Reuters: Top News - Breaking News - World News

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CAIRO (Reuters) - Egypt's military has outlined a timetable to hand power to an elected government, insisting it does not want political power in a country where it propped up an authoritarian state for six decades.

Source: Egyptian army says it hopes for elections in 6 months

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WASHINGTON (Reuters) - President Barack Obama warned on Tuesday that immediate, deep budget cuts could hurt the fragile economic recovery, but Republicans pressed to slash spending and brushed off concerns about potential job losses.

Source: Obama warns spending cuts could hurt U.S. recovery

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NEW YORK (Reuters) - A frail Bernard Madoff, facing the rest of his life in prison, said a variety of banks and hedge funds were complicit in and "had to know" about his epic Ponzi scheme before it was uncovered, The New York Times reported.

Source: Madoff says banks had to know of Ponzi scheme: report

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WASHINGTON (Reuters) - Federal Reserve officials raised their forecasts for economic growth last month but remained unhappy with the job market's recovery.

Source: Fed more confident in recovery, unhappy on jobs

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NEW YORK/WILMINGTON, Delaware (Reuters) - Borders Group Inc filed for bankruptcy protection and said it would close about one-third of its bookstores, after years of shriveling sales that made it impossible to manage its crushing debt load.

Source: Borders files for bankruptcy, to close 200 stores

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FRANKFURT (Reuters) - When arch-hawk Axel Weber withdrew last week from the contest to head the European Central Bank, the euro and bond yields dipped -- a sign of how crucial markets think the ECB's president may be in shaping its policy.

Source: A strong ECB president can make a difference

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WASHINGTON (Reuters) - The debate over overhauling the U.S. corporate tax system will have to include whether to cut taxes on profits earned abroad, a Treasury Department official said on Thursday.

Source: Taxing offshore profit up for debate: aide

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WASHINGTON (Reuters) - The U.S. government on Thursday charged 111 doctors, nurses and other defendants with Medicare crime schemes that exceeded $225 million in false billings, the largest health care fraud crackdown so far.

Source: U.S. charges 111 in largest Medicare fraud crackdown

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WASHINGTON (Reuters) - The House of Representatives voted on Thursday to overturn proposed rules that bar Internet service providers from blocking legal content but give some discretion to ration access for bandwidth hogs.

Source: House votes to overturn FCC Internet rules

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WASHINGTON (Reuters) - Republicans escalated their push to delay and defund the Dodd-Frank Wall Street reforms on Thursday as top regulators warned the Senate Banking Committee of a staff and funding crunch.

Source: Dodd-Frank tensions headline Senate hearing