Reuters is really slipping. The sign was originally photographed in front of a white background — some of that background, and the shadow on it, is visible at the lower right edge. And that sign somehow isn’t casting a shadow on the people behind it. It also looks like there’s a jagged edge between the white background and the crowd shot, but it’s hard to tell with the resolution that low.
Here’s the original source image for the smiley face: http://blogs.herald.com/.a/6a00d83451587d69e201156fb82331970c-800wi . It’s possible that the guy in the picture printed out that image (or the same image from the original clip-art source) and cut it out badly to make his sign, but it looks like Photoshop to me. I could tell better with a higher-resolution image.
