Lebanon tycoon forgoes PM job

Lebanon's former finance minister has backed down from becoming the protest-hit country's new prime minister, after reports of his nomination sparked ire among demonstrators railing against the ruling elite.

Wealthy 75-year-old businessman Mohammed Safadi said Saturday it would be difficult to form a "harmonious" government in the country rocked by a month of unprecedented nationwide protests demanding radical reform.

The tycoon said in a statement that he hoped outgoing prime minister Saad Hariri, who resigned on October 29 under pressure from the street, would be reinstated.