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Amnesty accuses U.N. council of "failed leadership"
23 May 2012 at 5:14pm
LONDON (Reuters) - Rights group Amnesty International lambasted the United Nations Security Council on Thursday as "tired, out of step and increasingly unfit for purpose". In its annual report, Amnesty said the failure of world powers to take stronger action on Syria was evidence that a sclerotic security council was hamstrung by vested interests, and also warned of abuses arising from Europe's economic crisis. Permanent security council members Russia, a key arms supplier to Syria, and China have shielded Syrian President Bashar al-Assad from tough sanctions. ...

TSX ends up 1 percent as gold miners rally
23 May 2012 at 4:14pm

TORONTO (Reuters) - Canada's main stock index advanced for the second straight day on Wednesday, rallying with gold and base-metal mining shares to dig itself out of an early hole as mounting fears about the euro zone economy and China rattled markets. The index surged nearly 300 points, or 2.6 percent, after nearly hitting a 2012 low at 11,260.04 early on Wednesday as worries about Greece's possible exit from the euro zone sparked a broad sell-off in equities. The rebound was led by the gold mining subgroup, which jumped more than 4. ...

Europe's leaders gather in Brussels under mounting pressure to soften their tough-love approach to the weaker economies among them. With Greece locked in political chaos, much bigger Spain warns it can't keep afloat without help, as stock markets around the world tank over fears the leaders won't have the political will to act.

TORONTO (Reuters) - Locomotive engineers and conductors at Canadian Pacific Railway walked off the job on Wednesday after contract talks broke down, shutting down freight operations on Canada's second-biggest railroad. As some customers began seeking alternatives to move autos, grain, coal and other goods, the Canadian government said it may introduce back-to-work legislation as early as next Monday if the strike drags on and harms the economy. ...

WASHINGTON (Reuters) - The U.S. spring home-selling season got off to a strong start in April, with rising sales and prices providing evidence that a housing market recovery was gaining some traction. The housing sector has been the Achilles' heel of the economy ever since the home-price bubble burst. Data this week, however, has painted a relatively upbeat picture for the market and underscored the economy's resilience. ...

Hewlett-Packard announced Wednesday that they will cut about 27,000 jobs by the end of 2014 in order to save up to $3.5 billion, so that's obviously not great news for the economy.

Standard & Poor's dropped its rating for Tunisia by one notch on Wednesday to a speculative 'BB/B' level due to political uncertainty and weaker economic outlook.

Syria's oil minister blamed international sanctions Wednesday for shortages of cooking gas and other basic goods, saying the measures have bled $4 billion from the nation's ailing economy.