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| Scientists to cook world's first in-vitro beef burger Friday, Aug 02, 2013 06:06 PM PDT By Kate Kelland, Health and Science Correspondent LONDON (Reuters) - A corner of west London will see culinary and scientific history made on Monday when scientists cook and serve up the world's first lab-grown beef burger. The in-vitro burger, cultured from cattle stem cells, the first example of what its creator says could provide an answer to global food shortages and help combat climate change, will be fried in a pan and tasted by two volunteers. ... Full Story | Top |
| Berkshire profit rises 46 percent, helped by economy Friday, Aug 02, 2013 04:44 PM PDT  By Jonathan Stempel and Jennifer Ablan (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Friday said second-quarter profit rose 46 percent, boosted by improved demand in such businesses as car insurance, energy and railroads, as well as gains from investments and derivatives. Operating results topped analyst forecasts, reflecting how many of Berkshire's more than 80 businesses are benefiting from growth, however modest, in the U.S. economy. ... Full Story | Top |
| Mexico rules out foul play in Pemex HQ blast, cites gas buildup Friday, Aug 02, 2013 03:21 PM PDT  MEXICO CITY (Reuters) - A massive explosion that killed nearly 40 people in late January at state oil company Pemex's Mexico City headquarters was caused by a gas buildup, Mexico's attorney general's office said on Friday, ruling out foul play. A six-month investigation confirmed a preliminary conclusion that the January 31 explosion that collapsed several floors of the headquarters' B2 building, which contained archived documents, was caused by faulty building design that provided poor ventilation in the basement area. ... Full Story | Top |
| Dow, S&P 500 end at record for second day despite tepid jobs data Friday, Aug 02, 2013 01:51 PM PDT  By Caroline Valetkevitch NEW YORK (Reuters) - The Dow industrials and S&P 500 ended at record highs for a second day on Friday, posting modest gains despite a mixed employment report that showed hiring slowed in July. All but three of the 10 S&P 500 sectors ended higher, led by gains in the consumer discretionary index , up 0.7 percent. The jobs report showed non-farm payrolls rose by 162,000 in July, below expectations, but the unemployment rate fell to 7.4 percent, its lowest since December 2008. ... Full Story | Top |
| TSX makes modest gains on stronger banks; posts weekly loss Friday, Aug 02, 2013 01:50 PM PDT  By John Tilak TORONTO (Reuters) - Canada's main stock index rose slightly on Friday as disappointment following a weaker-than-expected U.S. jobs report was offset by gains in the financial sector, but it ended the week lower. The market was also weighed by a 6 percent decline in SNC Lavalin Group Ltd after the engineering and construction company reported a quarterly net loss and lowered its financial forecasts for the year, hit by charges taken on projects in two North African countries. Data showed a slower pace of hiring by U.S. ... Full Story | Top |
| Canada's Harper insists Keystone XL is important for jobs Friday, Aug 02, 2013 12:16 PM PDT  OTTAWA (Reuters) - Canadian Prime Minister Stephen Harper contradicted on Friday U.S. President Barack Obama's dismissal of the job-creation potential of the proposed Keystone XL pipeline, saying the project is important both for jobs and for energy security. Asked about remarks made by Obama in an interview with the New York Times last Saturday and then repeated this week in a speech, Harper told reporters in Quebec City that Canada's perspective was well-known by everyone in Washington. "That is that first of all our No. ... Full Story | Top |
| SNC-Lavalin reports loss on charges in North Africa Friday, Aug 02, 2013 10:36 AM PDT By Solarina Ho TORONTO (Reuters) - Canada's SNC-Lavalin Group Ltd unexpectedly reported a quarterly net loss and lowered its financial forecast for the year on Friday following charges on projects in two North African countries. The company's shares fell 6 percent to C$40.44 on the Toronto Stock Exchange. The Montreal-based company, one of the world's largest construction and engineering companies, said results reflected operating losses at its oil and gas unit for a project in Algeria and at its infrastructure and environment business for a halted project in Libya. ... Full Story | Top |
| Chevron profit drops on cheaper oil, slim refining margins Friday, Aug 02, 2013 10:11 AM PDT  By Braden Reddall (Reuters) - Chevron Corp posted on Friday a steeper-than-expected 26 percent drop in quarterly profit on softer oil prices and thinner refining margins. Shares of the second-largest U.S. oil company slipped 2 percent as quarterly oil and gas volumes weakened to a level well below Chevron's full-year target. Achieving increased production from oil wells has been a struggle for Chevron and larger rival Exxon Mobil Corp , which reported disappointing results on Thursday along with Royal Dutch Shell Plc . Chevron's second-quarter net income fell to $5.37 billion, or $2. ... Full Story | Top |
| Machines can end platinum mine strife: former Lonmin CEO Friday, Aug 02, 2013 09:53 AM PDT  By Stephen Eisenhammer LONDON (Reuters) - South Africa's loss-making platinum industry should have pushed through mechanisation of mines years ago to avert its current problems with restive unions and soaring wage demands, the former boss of miner Lonmin said. Brad Mills, chief executive of South Africa's third-largest platinum producer until 2008, said firms had to start the effort now or remain confronted by a large, highly unionised workforce. ... Full Story | Top |
| Blast disables Iraqi domestic gas pipeline Friday, Aug 02, 2013 07:36 AM PDT KIRKUK, Iraq (Reuters) - An explosion and fire disabled a pipeline carrying gas from Iraq's northern oilfields to power stations early on Friday, the oil ministry said. It was not clear what caused the blast, which took place around 60 km (40 miles) west of Kirkuk, but it is another indication that Iraqi energy installations are becoming more vulnerable to technical glitches and insurgent attacks. "A blast and fire halted gas flow through a domestic pipeline transporting gas to power stations in Baiji, Mosul and Taji near Baghdad at 3:30 am local time," said oil ministry spokesman Asim Jihad. ... Full Story | Top |
| GlaxoSmithKline diabetes drug faces U.S. approval delay Friday, Aug 02, 2013 07:29 AM PDT  LONDON (Reuters) - U.S. regulators have pushed back an approval decision on GlaxoSmithKline's experimental diabetes drug albiglutide by three months until April 15, 2014, Britain's biggest drugmaker said on Friday. A separate filing for the drug in Europe is progressing on schedule. The once-weekly treatment for type 2 diabetes belongs to the same class of injectable GLP-1 drugs as Victoza, from Novo Nordisk, and Byetta and Bydureon, from Bristol-Myers Squibb and AstraZeneca. ... Full Story | Top |
| Renewed protests keep Libya oil exports below half of normal Friday, Aug 02, 2013 06:20 AM PDT  LONDON (Reuters) - Libya's oil exports were flowing at less than half of normal rates on Friday as strikes and protests kept major terminals shut in one of the worst disruptions to hit the North African OPEC producer in the past year. A new wave of unrest that began on Sunday forced the closure of the Es Sider and Ras Lanuf terminals in eastern Libya, cutting exports to about 425,000 barrels per day (bpd) from previous levels of more than 1 million, industry sources said. ... Full Story | Top |
| India revokes GSK cancer drug patent in latest Big Pharma blow Friday, Aug 02, 2013 05:21 AM PDT  By Kaustubh Kulkarni MUMBAI (Reuters) - India has revoked a patent granted to GlaxoSmithKline Plc for breast cancer drug Tykerb, a decision that follows a landmark India court ruling disallowing patents for incremental innovations that was a blow to global pharmaceutical firms. However, India's Intellectual Property Appellate Board (IPAB) upheld a patent granted on the original compound, or active pharmaceutical ingredient, lapatinib, citing innovative merit. As a result, a GSK spokesman said its medicine would remain subject to patent protection until 2019. ... Full Story | Top |
| EU signs off on China solar deal, no state votes against Friday, Aug 02, 2013 04:52 AM PDT  BRUSSELS (Reuters) - European Union officials endorsed a deal on Friday to settle a dispute with China over solar panels, the biggest trade row to date between the two powers, after winning almost unanimous backing from member states. The agreement will be officially published on Saturday and takes effect on August 6. Chinese firms who agree to its terms will avoid duties that the 28-nation EU had planned to impose. In a statement, the European Commission, the EU's executive arm, said it had received almost unanimous support but declined to give details on any possible abstentions. ... Full Story | Top |
| China reiterates opposition to U.S. sanctions on Iran Friday, Aug 02, 2013 01:15 AM PDT BEIJING (Reuters) - China, Iran's largest trading partner and top oil customer, repeated its opposition on Friday to tougher U.S. sanctions on Iran after the House of Representatives approved a bill aimed at halting Iran's oil exports. The bill seeks to cut Iran's oil exports by a further one million barrels per day to near zero over a year, an attempt to reduce the flow of funds to Tehran's disputed nuclear program. The legislation provides for heavy penalties for buyers who do not find alternative supplies. ... Full Story | Top |
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