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News
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| U.S. Senate approves tougher Iran sanctions |
WASHINGTON (Reuters) - The U.S. Senate unanimously approved on Monday a package of new economic sanctions on Iran's oil sector just days ahead of a meeting in Baghdad between major world powers and Tehran. The West suspects Iran is working to build a nuclear bomb and the sanctions are meant to strip Tehran of revenue by shutting down financial deals with Iran's powerful state oil and tanker enterprises. Iran has said its nuclear program is for civilian purposes. ...
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| Lowe's 1Q profit up, but cuts 2012 profit outlook |
 Lowe's Cos.' first-quarter profit climbed 14 percent as warmer weather helped boost sales earlier in the quarter. But the world's second-biggest home-improvement company lowered its full-year earnings forecast on Monday, saying it's still cautious because of the weak housing market and other economic conditions.
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| Comic Grillo shakes up Italian politics with shock win |
 ROME (Reuters) - Italy's political parties had hoped Beppe Grillo would fade away, but the comic who rails against their corruption and ineptitude and says Italy should default on its debt and quit the euro is going from strength to strength. In local elections on Monday, Grillo's Five-Star Movement shook Italian politics by winning control of the northern city of Parma and several smaller towns, capitalizing on voter discontent with economic stagnation and austerity. ...
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| Oil rises on China calls for growth, Iran |
 NEW YORK (Reuters) - Oil prices rose on Monday after China's premier called for more efforts to stimulate growth and as investors cautiously awaited results of Iran's second round of revived talks with major powers over Tehran's nuclear program. Chinese Premier Wen Jiabao's call for "giving more priority to maintaining growth" signaled Beijing's willingness to take action after several recent economic indicators suggested that the economy could continue to slow. ...
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