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Kroos agrees six-year deal to join Real Madrid

By Tim Hanlon BARCELONA (Reuters) - Germany midfielder Toni Kroos has signed a six-year deal to join Real Madrid from Bayern Munich, the Bundesliga club confirmed on Thursday. The 24-year-old was instrumental in Germany’s World Cup-winning campaign that culminated in a 1-0 final victory over Argentina on Sunday and moves to the Bernabeu for a fee believed to be in the region of 25 million euros (19.7 million pounds). Kroos is Real’s first signing ahead of the new season and he could well take over set-piece duties from Xabi Alonso. His arrival could also lead to the departure of Germany team mate Sami Khedira, who has been linked with a move to England. Read more here: Yahoo Sports UK...

Kroos agrees six-year deal to join Real Madrid

By Tim Hanlon BARCELONA (Reuters) - Germany midfielder Toni Kroos has signed a six-year deal to join Real Madrid from Bayern Munich, the Bundesliga club confirmed on Thursday. The 24-year-old was instrumental in Germany’s World Cup-winning campaign that culminated in a 1-0 final victory over Argentina on Sunday and moves to the Bernabeu for a fee believed to be in the region of 25 million euros (19.7 million pounds). Kroos is Real’s first signing ahead of the new season and he could well take over set-piece duties from Xabi Alonso. His arrival could also lead to the departure of Germany team mate Sami Khedira, who has been linked with a move to England. Read more here: Yahoo Politics News...

ITV shares jump as Malone’s Liberty Global buys stake

By Kate Holton LONDON (Reuters) - John Malone’s cable group Liberty Global has bought a 6.4 percent stake in ITV from BSkyB, lifting shares in Britain’s biggest free-to-air commercial broadcaster on hopes of a wider bid. Liberty, which bought Virgin Media in Britain as part of a European expansion last year, said it did not intend to make an offer for the rest of ITV, but shares in the group still rose 9 percent at the open as investors digested the move. The sale, at a price of 481 million pounds ($824 million), may also indicate that BSkyB is looking to raise cash to push ahead with its own expansion plans after it opened talks this year to buy Rupert Murdoch’s Sky Italia and Sky Deutschland. The move for the ITV stake is just the latest in a string of deals in the global media sector motivated by a desire to own content. Read more here: Yahoo Politics News...

Van Gaal era starts at the double in Manchester

(Reuters) - Manchester United players have already had a taste of Louis van Gaal’s methods after the new manager, who is officially unveiled in the role on Thursday, ordered double training sessions just two days into the pre-season. Van Gaal, smiling and looking relaxed after arriving from his stint as Netherlands manager at the World Cup, was given a tour of the Carrington training facility by his new assistants, recently-retired United star Ryan Giggs, and Albert Stuivenberg. The Dutchman introduced himself to the players individually but it is understood that he is waiting for the return of those enjoying post-World Cup breaks, including striker Wayne Rooney, before he addresses the squad as a whole. Van Gaal, 62, a noted disciplinarian, has been asked to make United a force again after last season’s disappointing campaign under David Moyes in which they finished seventh and failed to secure European football. Read more here: Yahoo Politics News...

Italy economy minister says growth outlook more difficult

Signs of weakening economic growth have created a more difficult environment for the Italian government but will not weaken its determination to continue structural reform measures, Economy Minister Pier Carlo Padoan said on Thursday. “The most recent macroeconomic data, if confirmed, indicate a delay in the mechanisms for a return to sustained economic growth in Europe and elsewhere. “The margins for government action in this case will be more restricted,” he said but added that the need for decisive reform action remained unchanged. Read more here: Yahoo Politics News...

Nissan says to sponsor City Football Group in five-year deal

Nissan Motor Co said it will become a sponsor of City Football Group, whose soccer clubs include Manchester City, aiming to boost its presence overseas through sports deals. Nissan gave no financial details for the five-year deal with City Football Group, which is owned by Abu Dhabi’s Sheikh Mansour and is expanding globally. “This innovative partnership enhances Nissan’s investment in the game of soccer which is a key platform to further strengthen our brand globally,” Chief Executive Carlos Ghosn said in a statement on Thursday. Read more here: Yahoo Sports UK...

Should online accounts die when you die?

WASHINGTON (AP) — Should your emails, web albums and other online accounts die when you do? Or should you be able to pass them down to a family member much as you would a house or a box of letters? Read more here: Yahoo Politics News...

Should online accounts die when you die?

WASHINGTON (AP) — Should your emails, web albums and other online accounts die when you do? Or should you be able to pass them down to a family member much as you would a house or a box of letters? Read more here: Yahoo Tech News...

Gaza truce goes into force, hours after tunnel clash

By Nidal al-Mughrabi and Ari Rabinovitch GAZA/JERUSALEM (Reuters) - A five-hour humanitarian truce agreed by Israel and Hamas came into force on Thursday, hours after the Israeli military said it fought Palestinian gunmen who infiltrated from Gaza. A break for five hours in 10 days of fighting was requested by the United Nations to allow Gaza residents to gather supplies and repair infrastructure damaged in warfare that has killed at least 224 Palestinians, most of them, Gaza health officials said, civilians. In Israel, a civilian has been killed by one of more than 1,300 Palestinian rockets fired and more than half a dozen people have been wounded in frequent strikes that have made a race to shelters a routine for hundreds of thousands of people. Read more here: Yahoo Politics News...

Russia denounces U.S. sanctions as act of “primitive” revenge

The Russian Foreign Ministry criticised new U.S. sanctions against Moscow on Thursday as a “primitive attempt to avenge the fact that developments in Ukraine are not following Washington’s scenario”. Washington, which accuses Moscow of being the driving force behind pro-Moscow separatist unrest in eastern Ukraine, slapped the toughest sanctions yet on Russia on Wednesday. “It is widely known that sanctions are a double-edged sword,” the ministry said in a statement, adding it reserved the right to introduce retaliatory measures. Read more here: Yahoo Politics News...

British Open underway with all eyes on Tiger

HOYLAKE, England (AP) — David Howell hit the first shot of the 143rd British Open on Thursday. He also was the first to hit in the rough, and the first to make a bogey. Read more here: Yahoo Sports UK...

Archie comic banned in Singapore as censorship row escalates

Singapore has banned a volume of the “Archie” comic book that featured a same-sex marriage, adding fuel to a censorship row that erupted over a children’s story about two male penguins hatching an egg. “Archie: The Married Life Book Three” was taken off book shop shelves following a complaint to Singapore’s Media Development Authority which found it was not in line with social norms and breached their content guidelines. News of the ban, which was imposed earlier this year but came to light late on Wednesday, comes a week after Singapore’s National Library Board said it was to destroy three children’s books seen as being pro-homosexual, including penguin story “And Tango Makes Three”. Read more here: Yahoo Politics News...

European car sales up for 10th straight month as crisis-hit states recover

New car sales in Europe rose 4.3 percent in June, industry data showed on Thursday, as an economic recovery, new product launches and retail incentives boosted demand for mass-market brands. New passenger car registrations in the European Union and European Free Trade Association trading block rose for the tenth consecutive month to 1.23 million vehicles in June from 1.18 million in the same month last year, according to data from the Association of European Carmakers (ACEA). Europe’s car industry endured a six-year slump, with auto sales falling to their lowest level in two decades as austerity-hit consumers cut back on expensive purchases, but the market has gradually returned to growth. Read more here: Yahoo Politics News...

Russian bank chief says sanctions threaten global financial system

The chief executive of Russia’s VTB bank said on Thursday new U.S. sanctions imposed on Moscow over the Ukraine crisis were inappropriate and warned of potentially devastating consequences for the global financial system. “Of course, these sanctions are inappropriate and of course they do not correspond to the spirit or the legal standards of existing international relations, in particular in the field of finance and banking,” Andrei Kostin, whose bank is Russia’s second largest, was quoted as saying by Itar-Tass news agency. Read more here: Yahoo Politics News...

Asian shares slip, euro probes lows

By Shinichi Saoshiro TOKYO (Reuters) - Asian equities dipped on Thursday, giving up earlier modest gains as Chinese shares fell, while the euro probed recent lows against the dollar amid speculation the U.S. Federal Reserve was tilting towards tighter monetary policy. Spreadbetters expected European stock markets to follow suit, forecasting Britain’s FTSE 100 would open as much as 0.25 percent lower, Germany’s DAX down 0.15 percent and France’s CAC 40 off 0.3 percent. The Shanghai Composite Index fell 0.8 percent as investors moved from blue chips to some beaten-down growth stocks and kept money aside for initial public offerings (IPOs). Tokyo’s Nikkei shed 0.2 percent and Hong Kong’s Hang Seng lost 0.4 percent. Read more here: Yahoo Politics News...

Boxing-Pacquiao to fight unbeaten Algieri in Macau

Filipino southpaw Manny Pacquiao will return to the ring on Nov. 22 to defend his World Boxing Organisation (WBO) welterweight title against undefeated American Chris Algieri in Macau, his promoter Bob Arum said. The Venetian Macao, where Pacquiao (56-5-2) claimed a unanimous decision victory against American Brandon Rios last November, will host the bout. In April, Pacquiao scored a points win over Timothy Bradley to regain the WBO welterweight title and avenge a highly controversial loss to the American in June 2012. Read more here: Yahoo Sports UK...

Carrefour second-quarter sales accelerate, Italy back to growth

Carrefour, Europe’s largest retailer, said on Thursday that like-for-like sales growth accelerated in the second quarter, reflecting improving trends in austerity-hit Southern Europe and notably Italy. Italy returned to sales growth for the first time in five years thanks to a promotional campaign linked to the World Cup. Growth in Brazil, Carrefour’s largest market after France, accelerated in the quarter, while trading conditions remained weak in China. Read more here: Yahoo Politics News...

SAP raises 2014 revenue outlook for cloud services

By Harro Ten Wolde FRANKFURT (Reuters) - German business software maker SAP raised its 2014 outlook for its web-based software services as its customers switch to these so-called cloud-based products more quickly than expected to save money. The company now expects revenue from cloud subscriptions and support revenue to come in at between 1 billion euros (£787.65 million) and 1.05 billion at constant currencies this year, up from a previous outlook for 950 million to 1 billion euros. Read more here: Yahoo Tech News...

Top GM lawyer, Delphi CEO to face U.S. Senate on deadly ignition flaw

By Julia Edwards and Richard Cowan WASHINGTON (Reuters) - Two more major figures in General Motors Co’s safety debacle will appear on Thursday for the first time before U.S. lawmakers investigating why it took the automaker more than 10 years to recall millions of vehicles with a deadly ignition switch flaw. Michael Millikin, the general counsel of GM, and Rodney O’Neal, the chief executive of Delphi Automotive, the maker of the defective part, are due to testify before a Senate Commerce subcommittee. Millikin is expected to receive harsh scrutiny because his legal department dealt with numerous private lawsuits related to crashes involving the defective switches, but apparently did not urgently warn other parts of GM. “Claire will be posing some tough questions that haven’t yet been answered about the role GM’s legal department played in delaying this recall,” said Andy Newbold, spokesman for McCaskill. Read more here: Yahoo Politics News...

Are markets poised for Taper Tantrum 2.0?

By Ann Saphir and Jonathan Spicer SAN FRANCISCO/NEW YORK (Reuters) - Investors may be ignoring subtle warnings from the Federal Reserve that a rate rise may come sooner than they think, setting the stage for another painful market contraction much like last year’s “taper tantrum.” Catching investors off guard is the last thing U.S. central bankers want to do, which helps explain their repeated recent warnings over complacency in financial markets, and Fed Chair Janet Yellen’s pointed comments this week about banks and others building up dangerous “interest rate risk.” Yet many Wall Street economists, sceptical that the economy will finally break out of its recessionary funk, do not believe the Fed will tighten its extraordinarily easy monetary policy as soon or as aggressively as its forecasts suggest, surveys consistently show. Meanwhile most Fed policymakers have been surprised by the sharp drop in unemployment and pleased by signs that inflation is firming. “I don’t think people have really internalised how rapid the decline (in unemployment) has been,” St. Louis Fed President James Bullard said in an interview. Read more here: Yahoo Politics News...

Decent homes for care-leavers plea

Young care leavers should be offered a decent place to stay and not be put up in “unsuitable” accommodation like bed and breakfasts, a cross-party group of MPs has warned. Read more here: Yahoo Politics News...

AP Source: Sabres reach deal to re-sign C Ennis

BUFFALO, N.Y. (AP) — A person familiar with the agreement has confirmed to The Associated Press that the Buffalo Sabres have reached an agreement to re-sign center Tyler Ennis to a five-year contract worth about $23 million. Read more here: Yahoo Sports UK...

Microsoft expected to announce thousands of job cuts on Thursday

Microsoft Corp is set to cut more than 6,000 jobs in an announcement expected early Thursday, according to sources familiar with the matter, as it trims its newly acquired Nokia phone business and reshapes itself as a cloud-computing and mobile-friendly software company. What could be the deepest job cuts in the company’s 39-year history come five months into the tenure of Chief Executive Officer Satya Nadella, who outlined plans for a “leaner” business in a public memo to employees last week. Many of the cuts are expected to come from the Nokia unit, which Microsoft acquired in April for $7.2 billion (£4.20 billion), pushing up Microsoft’s headcount by a quarter to 127,000. Microsoft said when it struck the deal to buy the Finnish phone maker that it would cut $600 million per year in costs within 18 months of closing the acquisition. Read more here: Yahoo Politics News...

Fox-Time Warner deal could bring the game to ESPN

Twenty-First Century Fox’s plan to buy Time Warner could create an upheaval in the sports television world, creating the first meaningful challenge to Walt Disney Co’s ESPN. Time Warner’s board has rejected an $80 billion (£46.68 billion) bid, but Fox Chairman Rupert Murdoch is unlikely to walk away quickly. A deal would bring him college basketball’s “March Madness” championship tournament, prime time National Basketball Association (NBA) games, and Major League Baseball (MLB) games. Read more here: Yahoo Sports UK...

Profit growth at Chinese state firms accelerates in H1

China’s state-owned firms enjoyed faster growth in their profits in the first six months of 2014, official data showed on Thursday, the latest indication that the economy is picking up as government stimulus measures kick in. State-owned non-financial companies made combined profits of 1.22 trillion yuan ($197 billion) between January and June, up 8.9 percent from a year earlier, the Ministry of Finance said in a statement on its website. Read more here: Yahoo Politics News...
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