| Business News |
Wall Street tumbles, led by financials
(Reuters)
 Reuters - Stocks tumbled more than 2 percent on
Thursday after a report showing yet another drop in U.S. home
sales prompted investors to take profits in financial shares,
which had rallied over the past week.
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Microsoft CEO backs Web spending, "done" with Yahoo
(Reuters)
 Reuters - Chief Executive Steve
Ballmer on Thursday defended Microsoft Corp's need to
make heavy investments in its Internet businesses but said the
company was "done," for now, with pursuing Yahoo Inc .
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Wachovia CFO Wurtz to leave
(Reuters)
Reuters - Wachovia Corp , which posted a
record $8.86 billion second-quarter loss Tuesday, said Chief
Financial Officer Thomas Wurtz will resign from the
fourth-largest U.S. bank after a successor is named.
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Home sales at 10-year low, jobless claims jump
(Reuters)
 Reuters - Jobless claims jumped and the pace
of existing home sales tumbled to a 10-year low as slowing
growth hit hiring and a glut of unsold houses weighed on real
estate, data released on Thursday showed.
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Morgan Stanley aggressively recruiting brokers
(Reuters)
 Reuters - Morgan Stanley said on Thursday
it is poaching brokers from Merrill Lynch and other
rivals, accelerating the expansion of its global wealth
management business during a period of turbulence on Wall
Street.
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Jobless claims jump as housing market gets weaker
(AP)
 AP - Two cornerstones of the economy — jobs and housing — sank to new depths Thursday, with unemployment claims bolting higher and home prices recording one of their steepest drops on record.
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| Rain lashes Myanmar cyclone survivors - 13, May 2008 |
By Aung Hla Tun
YANGON (Reuters) - Heavy rains pelted homeless cyclone survivors in Myanmar's Irrawaddy delta on Tuesday, complicating already slow delivery of aid to more than 1.5 million people facing hunger and disease.
As more foreign aid trickled into the former Burma, critics ratcheted up the pressure on its military rulers to accelerate a relief effort that is only delivering an estimated one-tenth of the supplies needed in the devastated delta.
"The response of the regime in Burma to this crisis has been absolutely callous and those paying the price of this callousness have been the long-suffering Burmese people," Australian Prime Minister Kevin Rudd told parliament.
An Australian air force plane landed in Yangon, Myanmar's main city, with 31 tonnes of emergency supplies, a day after the first U.S. military aid flight arrived in a country Washington has described as an "outpost of tyranny."
Two more U.S. flights were due on Tuesday as part of a "confidence building" effort to prod Myanmar's reclusive generals into allowing a larger international relief operation 11 days after the disaster left up to 100,000 dead or missing.
Tens of thousands of people throughout the delta are crammed into monasteries, schools and other buildings after arriving in towns that were on the breadline even before the disaster.
Lacking food, water and sanitation, they face the threat of killer diseases such as cholera. Heavy rains added to the misery of survivors with little shelter.
"Where I am now there's over 10,000 homeless people and it's pouring rain," Bridget Gardener of the International Red Cross said during a rare tour of the delta by a foreign aid official.
(c) 2008 Reuters
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