Wife: Lou Reed recovering after liver transplant

LONDON (AP) Rock icon Lou Reed is recovering after a life-saving liver transplant in the U.S., according to an interview with his wife published Saturday in a British newspaper.

Laurie Anderson told the Times of London that Reed "was dying" before the operation several weeks ago at Ohio's Cleveland Clinic.

She said 71-year-old Reed isn't back to full strength, but "he's already working and doing t'ai chi.

"I don't think he'll every totally recover from this, but he'll certainly be back to doing (things) in a few months," she said.

"I'm very happy. It's a new life for him."

Anderson, a musician and performance artist, praised the Cleveland facility one of the leading transplant centers in the U.S. and said hospitals in the couple's hometown of New York were "dysfunctional."

Reed, who has spoken of his past alcohol and drug use, co-founded influential 1960s group The Velvet Underground, whose songs included the addiction-themed "Heroin" and "I'm Waiting for the Man."

Solo works include "Walk on the Wild Side" and "Perfect Day."

Reed had earlier canceled a series of dates planned for April. His management didn't immediately respond to a request for comment.

Rock guitarist May leads London march against badger cull

LONDON (Reuters) - Protesters dressed as badgers and led by Queen guitarist Brian May marched through central London on Saturday demanding that the government scrap a plan to cull badgers, aimed at slowing the spread of a cattle disease.

About 5,000 of the nocturnal black-and-white animals are due to be shot by marksmen in the six-week pilot cull, authorized to begin on Saturday in two areas in southwestern England.

The cull has divided rural England, pitting farmers determined to protect their livestock and livelihoods against animal lovers who say the plan will not work and will cause suffering to badgers.

Dressed in a black jacket and black shirt with thin white stripes and sporting his signature long bushy curls, the rock musician May chatted with other protesters and posed for photographs with them.

"Thousands of badgers are going to be killed in a scheme which will not make life any easier for farmers," May told the BBC. "We don't believe it will work. We don't believe it's humane. And there is a better option which is vaccination."

He later handed a petition against the cull to Prime Minister David Cameron's office at Number 10 Downing Street.

The government says the cull is "science-driven and carefully managed". It follows a study that found culling 70 percent of badgers in an area could reduce by 16 percent bovine TB, a disease that caused the slaughter of an estimated 28,000 cattle in England last year.

The ministry in charge of farming says there is no licensed cattle vaccine against bovine TB available. It says an injectable badger vaccine is available but it is not a realistic option for dealing with the problem in the short-term because of practical difficulties.

The anti-cull protesters dispute the evidence cited by the government in its decision to approve the badger cull.

"This cull is unscientific and cruel. Badgers are innocent in the spread of bovine TB," said Malcolm Clark, from the rural county of Wiltshire.

"There are going to be people out at night shooting badgers in the dark. They are not going to kill them humanely. Badgers are going to be running down into their sets to die in agony," said Clark, whose wife stood next to him in a badger outfit.

A Reuters photographer said about 200 protesters took part, some dressed as badgers, others with their faces painted black and white, holding up pictures of badgers with the words "Not guilty" and placards with slogans including "Stop this cruel cull".

(Reporting by Dylan Martinez and Estelle Shirbon; Editing by Robin Pomeroy and Patrick Graham)

Brazilian names his son ‘Leandro Lampard’ after Chelsea star

By Eurosport | World of Sport

Frank Lampard has had many honours in his career: A record 203 goals for Chelsea, 96 caps for England and now he can add to his list a Brazilian baby being named after him.

You would think that a Brazilian would have plenty of football stars from his own country to name his child after but one Samba footie fan decided to name his son "Leandro Lampard Martins Guedes" after the Chelsea and England midfielder.

The father in question spoke to the FA's TV channel in Brazil where England are playing a friendly as he waited to see if he could introduce his son to his namesake.

"We are very, very excited. It is one of our dreams to have the English team here. We are not sure whether Lampard is coming but it is still amazing that the team is here," he said.

Mr Martins Guedes said he decided to call his son Lampard as he is a huge Blues fan and his son was born on the day Chelsea knocked Barcelona out of the Champions League on their way to winning the title last season.

Luckily for him his wife agreed: "My first love is actually Chelsea, not just Lampard. I am a massive Chelsea fan, I don't support any team here in Brazil. I actually have a backyard that is called 'Stamford Bridge' and so we love Lampard as a Chelsea player," he explained.

"I wanted to leave that memory (of Chelsea beating Barcelona) forever. I spoke to my wife to see if she was happy to call the baby Lampard, and she was and so it's therefore history!"

It is not the first time football has seen parents get carried away with the naming of their kids.

During the 2010 World Cup in South Africa one baby girl was named 'FIFA' (all in capitals) after the sport's governing body, while another was called 'Ke Nako', a World Cup slogan that means 'it is time'. Another couple in Bloemfontein had twin boys during the opening match between South Africa and Mexico and decided to name their kids after the two teams playing.

S.Korea's trade surplus jumps in May

By AFP.

South Korea's exports expanded at a faster-than-expected pace in May with the trade surplus rising sharply, government data showed on Saturday, adding to hopes of a sustained recovery in Asia's fourth largest economy.

Exports rose 3.2 percent in May from a year earlier to $48.368 billion, while imports dropped 4.8 percent to $42.341 billion, according to the Ministry of Trade, Industry and Energy.

The May trade surplus stood at $6.026 billion, compared with a revised surplus of $2.447 billion in April, the largest since October 2010. A Dow Jones (DJI: ^DJI - news) poll had forecast a median trade surplus of $3 billion in May.

Exports to the United States jumped 21.6 percent year-on-year, while shipments to China were up 16.6 percent. But exports to Japan plunged 11.7 percent, a decrease blamed on a weaker yen.

-- Dow Jones Newswires contributed to this report --

China May official PMI stronger than expected

 

An employee works inside a textile factory in Linhai, Zhejiang province, May 30, 2013. REUTERS/William
Hong.

By Reuters.

BEIJING (Reuters) - China's official PMI rose to 50.8 in May from 50.6 in April, data showed on Saturday, beating market expectations and raising optimism that the world's second-largest economy may be stabilising.

Investors will get a fuller picture of the Chinese economy on Monday when the official services PMI is released along with the final HSBC survey that focuses on smaller private sector firms in the country.

The official purchasing managers' index (PMI), issued by the National Bureau of Statistics and China Federation of Logistics and Purchasing, indicated activity in China's vast manufacturing sector picked up slightly in May.

The reading was stronger than market expectations of 50.1 in a Reuters poll.

A reading above 50 indicates expanding activity while a reading below that level points to a contraction.

"The slight pick-up in May PMI reinforces signs of stabilising of the economy," Zhang Liqun, an economist at the Development Research Centre, a top government think tank in Beijing, said in an emailed statement accompanying the index.

China's annual economic growth slowed to 7.7 percent in the first quarter from 7.9 percent in the previous quarter, despite a credit boom fuelled by the thriving shadow financing.

A sub-index measuring new orders inched up to 51.8 in May from 51.7 in April, indicating stronger demand for Chinese goods. A sub-index of new export orders also edged up to 49.4 from 48.6.

Saddled with excess capacity, China's factories are struggling against weak demand, as Beijing's campaign against extravagance among state officials takes a toll on domestic consumption.

A flash private PMI survey released last week by HSBC showed China's manufacturing sector shrank for the first time in seven months in May as new orders fell, an unexpectedly poor outcome that caused a rout in global financial markets.

The official PMI, which focuses on big and state-owned firms, has been generally rosier than the private survey, which targets small and private companies.

The International Monetary Fund this week cut its 2013 economic growth estimate for China to 7.75 percent from 8 percent, while the OECD slashed its 2013 growth forecast to 7.8 percent from a previous forecast of 8.5 percent.

Many private economists have lowered their estimates following soft factory output and investment performance data for April and weak factory activity in May.

The economy's lack of vigour could make it difficult for the government to meet its 7.5 percent growth target for this year, analysts said.

Chinese leaders are reluctant to roll out fresh stimulus steps to support the economy, as they fear increased state spending could lead to a further acceleration of credit expansion and fuel a property bubble.

Premier Li Keqiang said last month that China has limited room to use government spending and policy stimulus to boost its economy, though Beijing has been pushing structural reforms in put the economy on a sounder footing.

(Reporting by Judy Hua and Kevin Yao; Editing by Michael Perry)

India's Infosys recalls founder as woes mount

By Gulab Chand | AFP 

Infosys (NYSE: INFY - news) on Saturday reappointed co-founder N.R. Narayana Murthy to lead the Indian outsourcing giant two years after he retired, as the company grapples with weak earnings and falling market share.

The global software group announced that incumbent K.V. Kamath will step down as chairman of the board and be an independent director.

"This calling was sudden, unexpected, and most unusual," Murthy, who has been named executive chairman, said.

"But, then, Infosys is my middle child. Therefore, I have put aside my plans-in-progress and accepted this responsibility," he said.

Three decades ago, Murthy and six other Indian software pioneers sat around a kitchen table and created Infosys.

Murthy's return comes after the company, India's second-largest software outsourcer by revenue, in April announced disappointing fourth-quarter earnings and weak revenue projections.

Murthy appealed to shareholders to be "optimists" and told a news conference "we have overcome tougher and bigger challenges before".

He said "the need of the day" was to "take quick, tough and firm decisions".

He said he had decided to put his retirement on hold given his "parental attachment to the company" after being approached a few weeks ago by Kamath to return to the helm.

Infosys, which is also listed on New York's Nasdaq, has been seeking to turn itself around with a strategic overhaul to focus on higher value software and consulting services instead of labour-intensive outsourcing operations.

Murthy's son, Rohan Murthy, who holds a Harvard computer science doctorate, will serve as his executive assistant.

Murthy had earlier insisted that "no family member of the Infosys founders" would ever be part of the company.

There was no immediate reason given for the change of heart but Kamath said Murthy's son was "well qualified" for the job.

The appointments will be submitted to shareholders for approval at the company's annual general meeting on June 15, Infosys said.

Murthy retired as executive chairman in August 2011 after turning 65 and Kamath assumed the post as non-executive chairman with co-founder Krish Gopalakrishnan as co-chairman.

Murthy was named chairman emeritus on his retirement.

S. D. Shibulal will continue as the chief executive and managing director of the company.

S. Gopalakrishnan will be reappointed executive vice-chairman and will focus on client relationships and industry issues.

Murthy and his son as well as Gopalakrishnan and Shibulal have each asked to be paid a token one rupee (two cents) a year.

The decision to bring Murthy back into active service was taken by the board at a meeting on Saturday.

Kamath welcomed Murthy's reappointment saying that his entrepreneurial and leadership record as well as his experience as a technology pioneer "makes him eminently qualified to lead the company and provide strategic direction at this point in time".

Kamath, former chief executive of India's top private bank ICICI, said the board had taken the step "keeping in mind the challenges that the technology industry" faces.

He said shareholders had asked for a "strengthening of the executive leadership during this challenging time".

Infosys, whose earnings have traditionally been seen as a bellwether for the sector, reported net profit rose just 3.4 percent to 23.94 billion rupees ($439 million) for the final quarter to March.

Its expectation that revenues would grow by just six to 10 percent in the current financial year was significantly below the 12 to 14 percent forecast by the National Association of Software (Xetra: 330400 - news) and Services Companies (NASSCOM).

Many of India's IT outsourcing firms have been going through a rough patch and they say the outlook for the industry remains difficult due to uncertainty in key US and European markets.

In the past year, Infosys has missed sales targets, lost market share and seen its stock price slide as US revenues decline.

A quarter of the company's revenue comes from Europe, and in recent years the firm has shifted focus to emerging and new markets such as Singapore, Brazil, Mexico and eastern Europe.

India, with its large English-speaking workforce, accounts for at least 50 percent of the global outsourcing market and the industry is a vital exporter.

Motorcycling - Lorenzo on top as Marquez struggles

Eurosport - Yamaha MotoGP rider Jorge Lorenzo of Spain (Reuters)

By Scott Mitchell | AutoSport.

Lorenzo was in a class of his own for the opening half hour, improving his Friday benchmark early on before whittling it down to 1m47.972s aboard his Yamaha. He was the only rider below the 1:48s mark.

While the reigning champion progressed serenely through to Q2, Marquez will have to test his injured shoulder even more after missing the cut.

The Honda rider suffered another crash, though this was a low-speed tumble in the Turn 12 gravel, and he would go on to complete the session.

However, he could only manage the 12th fastest time and will be joined in Q1 by Andrea Iannone's Pramac Ducati - sixth after Friday – and Bradley Smith's Tech 3 Yamaha, with top CRT rider Aleix Espargaro delivering a superb lap to earn the final spot in Q2 on his Aspar Aprilia.

As Lorenzo remained unchallenged at the top of the timesheets, behind the places swapped almost every minute. First Andrea Dovizioso went second fastest before Dani Pedrosa and Stefan Bradl took over.

Eventually, it was Pedrosa's Honda which emerged as Lorenzo's closest challenger – significantly closer than on Friday, but still a quarter of a second behind.

Valentino Rossi and Cal Crutchlow were fourth and sixth respectively after low-key sessions ended with late improvements, while Nicky Hayden and wildcard Michele Pirro made it three Ducatis in the top 10.