First Socialist president in 17 years says austerity no longer inevitablePARIS (AP) ― Socialist Francois Hollande defeated conservative incumbent Nicolas Sarkozy on Sunday to become France’s next president, heralding a change in how Europe tackles its debt crisis and how France flexes its military and diplomatic muscle around the world.Exuberant, diverse crowds filled the Place de la Bastille, the iconic plaza of the French Revolution, to fete Hollande’s victory, waving French, European and lab

Lexus wants Bayerische Motoren Werke AG and Mercedes-Benz car buyers to know it can be more than just dependable. To promote the revamped GS series, Lexus said that Sports Illustrated model Tori Praver helped to inspire a track challenged by American car-racing ace Scott Pruett, while armchair drivers keen to join in the action can get the Tori 500 app for the iPhone and iPad. The publicity helped Lexus sell more than 4,900 GS cars in the U.S. within two months of its introduction, exceeding sal

KOLKATA (AP) ― U.S. Secretary of State Hillary Rodham Clinton urged energy-starved India on Monday to reduce its Iranian oil imports to keep up pressure on the Islamic republic to come clean about its nuclear program.Clinton told a town hall meeting in the eastern city of Kolkata that there’s an adequate supply in the market for India to find alternative sources of oil. Clinton noted India has taken some steps to reduce its imports from Iran but she says the U.S. wants to see more.“If there were

Berkshire Hathaway chairman targets Asia for reinsurance, ice cream expansionWarren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said he’s pursuing more opportunities in Asia after boosting reinsurance sales and expanding the Iscar Metalworking Cos. unit on the continent. “Korea, Japan and you name it,” Buffett, 81, said at Omaha, Nebraska-based Berkshire’s annual meeting. Buffett visited South Korea, Japan and India last year, and China in 2010. Berkshire owned almost 4 million

Bank of Japan minutes show the government pressing for “visible results” from efforts to end decade-long deflation that is weighing on the nation’s recovery from last year’s earthquake and economic contraction.The BOJ should “conduct monetary policy flexibly and decisively” a Cabinet Office representative said at a April 9-10 policy meeting, according to a record of the gathering released in Tokyo Monday. It’s “particularly important” to promptly achieve a central bank goal of 1 percent inflatio

French voters chose Socialist Francois Hollande as their new president Sunday in a race that will have implications for Europe’s debt crisis, the Afghanistan war and global diplomacy.Hollande, largely unknown outside French borders, beat out conservative President Nicolas Sarkozy, who faced widespread anger and disappointment over his handling of the economy.A few reasons why the outcome matters in France and beyond:Dept crisisHollande could reshape the debate in the 17-nation eurozone. Until no

Nicolas Sarkozy, defeated Sunday in France’s presidential runoff by Socialist challenger Francois Hollande, joins a series of European leaders booted from office because of public anger over government spending cuts and economic crisis. Almost every crisis-hit European country that has held an election since disaster struck in 2009 has thrown out its leader.Here’s a look at countries where political cadavers litter the landscape.― Italy: Silvio Berlusconi, the long-serving leader and survivor of