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| Analysis: Under new management, scandal-hit PetroChina changes course Tuesday, Sep 03, 2013 07:06 PM PDT  By Charlie Zhu HONG KONG (Reuters) - PetroChina Co Ltd's days of super-charged spending may be over as the Chinese national oil giant seeks to steer clear of the legacy of former chairman Jiang Jiemin, now under an official corruption probe. PetroChina will likely record an annual drop in capital spending for 2013, according to company officials and industry specialists. That would be its first such decline since its Hong Kong and New York stock market listings in 2000. ... Full Story | Top |
| Quake jolts southern Japan, felt in Tokyo Tuesday, Sep 03, 2013 05:49 PM PDT TOKYO (Reuters) - An earthquake with a preliminary magnitude of 6.9 jolted southern Japan on Wednesday, public broadcaster NHK said, with the tremor shaking buildings in the capital, Tokyo. There were no immediate reports of injuries or damage and no tsunami warning was issued. The U.S. Geological Survey measured the quake with a magnitude of 6.5. The quake was measured 400 km (250 miles) below the earth's surface about 580 km (360 miles) south of Tokyo, NHK said. Witnesses said it was felt along much of Japan's east coast. ... Full Story | Top |
| Mexico tax overhaul to shield poor from food, medicine hikes: lawmakers Tuesday, Sep 03, 2013 05:10 PM PDT  By Dave Graham and Michael O'Boyle MEXICO CITY (Reuters) - Mexico's government is poised to break a taboo and tax some foods and medicine under an tax overhaul proposal but will take measures that shield the country's poorest, ruling party lawmakers said on Tuesday. The bill will also very likely propose raising the top income tax rate for the wealthiest to as much as 40 percent from 30 percent, several officials from President Enrique Pena Nieto's Institutional Revolutionary Party (PRI) said on condition of anonymity. ... Full Story | Top |
| Grim search for remains at ex-Florida reform school ends for now Tuesday, Sep 03, 2013 04:04 PM PDT  By Bill Cotterell MARIANNA, Florida (Reuters) - Researchers wound up the first phase of their grim work in the Florida Panhandle on Tuesday, after hunting for the remains of young boys believed to have been secretly buried more than 50 years ago at a notorious reform school. Erin Kimmerle, a University of South Florida anthropologist who headed the four-day excavation near the Arthur G. Dozier School for Boys in Marianna, Florida, said the skeletal remains of two youths had been recovered and would undergo DNA analysis. ... Full Story | Top |
| Plan to expand U.S. auto loan program faces bumpy road Tuesday, Sep 03, 2013 03:49 PM PDT By Ayesha Rascoe and Deepa Seetharaman WASHINGTON/DETROIT (Reuters) - Democratic proposals to widen the scope of the Department of Energy's loan program for advanced cars could falter in the face of Republican opposition in Congress. Last week, the DOE said it was planning "an active outreach campaign" for its Advanced Technology Vehicle Manufacturing loan program, created in 2007 to spur the development of plug-in hybrid and electric vehicles. The department said it has more than $15 billion still on hand to dole out to potential applicants. ... Full Story | Top |
| SEC won't appeal ruling vs disclosing payments abroad Tuesday, Sep 03, 2013 03:40 PM PDT  By Sarah N. Lynch WASHINGTON (Reuters) - U.S. securities regulators said on Tuesday they would not appeal federal court's decision from July to toss out a new rule requiring oil, natural gas and mining companies to disclose the payments they make to foreign governments. Instead, the Securities and Exchange Commission will redraft the so-called "resource extraction" rule to address the judge's concerns, and start the process all over again, SEC spokesman John Nester said. ... Full Story | Top |
| Telecoms shares lift TSX to three-month high Tuesday, Sep 03, 2013 02:49 PM PDT  By John Tilak TORONTO (Reuters) - Canada's main stock index hit its highest level in three months on Tuesday after bullish data signaled rising strength in the global economy and news of Verizon Communications Inc's decision not enter the Canadian market drove up telecoms shares. But gains were tethered by investor fears over greater volatility in the Middle East after some top Republicans said they supported U.S. President Barack Obama's push for limited military action. ... Full Story | Top |
| Venezuela hit by blackout, government blames 'sabotage' Tuesday, Sep 03, 2013 01:25 PM PDT  CARACAS (Reuters) - A blackout hit much of Venezuela including the capital Caracas on Tuesday, but the oil industry was not affected and the government said it expected power to be restored within hours. The cut struck a dozen of the South American country's 24 states and caused traffic chaos in parts of Caracas and other cities. The OPEC nation's oil refineries, which are powered by separate generator plants, were not affected. ... Full Story | Top |
| Morgan Stanley must pay ex-trader $8 million in flap over firing: panel Tuesday, Sep 03, 2013 01:25 PM PDT By Suzanne Barlyn (Reuters) - Two Morgan Stanley units must pay $8 million to a former energy trader, who said the firms improperly terminated him for cause, after he declined to meet with New York law enforcement authorities during an investigation, arbitrators ruled. The 2-to-1 ruling in favor of Amit Gupta effectively restores millions of dollars in deferred compensation that he was forced to forfeit because of the termination. The ruling was posted on the Financial Industry Regulatory Authority's website on Tuesday. ... Full Story | Top |
| More patients stay on treatment with heart 'polypill' Tuesday, Sep 03, 2013 01:01 PM PDT By Ben Hirschler AMSTERDAM (Reuters) - Doctors urging heart patients to "keep taking the tablets" would have a more success if they used a new combination medicine known as a polypill, according to research published on Tuesday. An international trial involving 2,000 patients found a four-in-one pill from Dr. Reddy's Laboratories Ltd significantly improved adherence compared with asking people to take their tablets individually. ... Full Story | Top |
| Bumper Vodafone sale to help UK stocks Tuesday, Sep 03, 2013 10:53 AM PDT  By Chris Vellacott and Sinead Cruise LONDON (Reuters) - Shares in other telecoms companies, stocks with high dividends and firms eyeing share sales may all get a boost when UK-focused fund managers redeploy cash from Vodafone's sale of Verizon Wireless. Barclays , Lloyds Banking Group , BT Group could be among the London-listed beneficiaries when Vodafone shareholders get $84 billion from the sale of its stake in Verizon Wireless to Verizon Communications. ... Full Story | Top |
| ArQule to cut liver cancer drug dose on safety concerns Tuesday, Sep 03, 2013 09:50 AM PDT (Reuters) - Drugmaker ArQule Inc said it would lower the dose of its experimental liver cancer drug for a second time, after a late-stage trial showed that patients on the therapy were becoming more susceptible to infection. The company's shares fell as much as 20 percent as the setback comes after the drug, tivantinib, failed separate trials for lung and colorectal cancers. Analysts were concerned about whether the latest cut in dose would affect the drug's efficacy. ... Full Story | Top |
| New Vivus CEO resigns over health issues Tuesday, Sep 03, 2013 09:27 AM PDT (Reuters) - Drugmaker Vivus Inc said Chief Executive Anthony Zook resigned for health reasons, barely a month after a shareholder revolt over disappointing sales of its diet drug installed him in the top job. The resignation comes as a surprise as Zook's experience as a former AstraZeneca Plc executive was a key argument put forward by top Vivus shareholder First Manhattan Co in its bid for control of the drugmaker's board. ... Full Story | Top |
| Sudan lifts threat to block S.Sudan oil, foes vow to mend ties Tuesday, Sep 03, 2013 08:40 AM PDT  By Khalid Abdelaziz KHARTOUM (Reuters) - Sudan lifted a threat to block oil exports from its old enemy South Sudan, as the leaders of the African neighbours met on Tuesday and promised to end their festering conflicts. The countries have fought over disputed territory and accused each other of fuelling rebellions in their territories since the South declared independence from Sudan in 2011. ... Full Story | Top |
| Theddlethorpe gas terminal not to restart on Tuesday - operator Tuesday, Sep 03, 2013 08:31 AM PDT LONDON (Reuters) - Britain's Theddlethorpe gas terminal, which shut down on Tuesday morning following an unplanned outage, is not expected to restart on Tuesday, operator ConocoPhillips said. "Production not expected to return this gas day," the operator said in a market message. The terminal can process 9.5 million to 10.7 million cubic metres per day. (Reporting by Karolin Schaps; Editing by Anthony Barker) Full Story | Top |
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