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| No sign of Basel III timing change request: Mexico official Saturday, Nov 03, 2012 06:15 PM PDT MEXICO CITY (Reuters) - There has been no discussion about putting back the start date for new rules of bank capital buffers in the lead-up to this weekend's G20 meeting, a senior Mexican Finance Ministry official told Reuters on Saturday. U.S. and European financial officials are likely to come under pressure from peers when they meet in Mexico City for dragging their feet on implementing the so-called Basel III accords, the world's response to the 2007-09 financial crisis. ... Full Story | Top |
| Power partially restored at Hess' Port Reading, NJ, refinery Saturday, Nov 03, 2012 05:15 PM PDT NEW YORK (Reuters) - Hess Corp.'s 70,000 barrel-per-day Port Reading, New Jersey, refinery had its power partially restored early on Saturday morning after it was cut during Hurricane Sandy, but full restart was at least several days away. "Full power restoration will be needed to complete an assessment of refinery equipment before the restart process can begin," said a spokesperson. "We are using the current power supply to bring in-plant utility systems back online, which will take several days and must be completed before the refinery can restart. ... Full Story | Top |
| Colonial Pipeline says Linden terminals returning to operations after Sandy Saturday, Nov 03, 2012 02:28 PM PDT NEW YORK (Reuters) - Colonial Pipeline, the nation's largest gasoline and heating oil pipeline, said on Saturday it was delivering oil products to three oil product terminals in Linden, New Jersey, with six more expected on line by Monday after disruptions from the huge storm Sandy earlier this week. Colonial said Line 3 into its terminus at the Linden tank farm in the New York Harbor was operating normally. The line usually carries about 700,000 bpd of oil products. (Reporting By Janet McGurty; Editing by Peter Cooney) Full Story | Top |
| National sports networks scrum for U.S. ad dollars, viewers Saturday, Nov 03, 2012 01:31 PM PDT LOS ANGELES/NEW YORK (Reuters) - Media companies from NBC and Fox to Al-Jazeera are digging deep into their wallets to build new national sports networks and grab a slice of the lucrative market dominated by Walt Disney Co's sports juggernaut ESPN. The networks are chasing the big advertising dollars that flow into live sports programming, plus monthly subscription fees paid by cable operators that are far higher than those for other channels. Just this week, NBC Sports Network outbid Fox for the rights to air England's Premier League soccer. ... Full Story | Top |
| Biggest NY harbor oil terminal resumes partial operations Saturday, Nov 03, 2012 01:29 PM PDT (Reuters) - The 16-million-barrel International-Matex Tank Terminals oil terminal in Bayonne, New Jersey has partially re-opened following power losses due to superstorm Sandy, its operator said on Saturday. The fuel terminal, the biggest in the New York Harbor, is still "coming back online," said terminal manager Richard Fisette. As of Saturday, around half of the facilities at the site were back to normal operation and the major regional fuel repository was awaiting nominations, or orders to ship out fuel, from its customers, Fisette said. ... Full Story | Top |
| Vale partner says Guinea seeks to seize iron ore rights Saturday, Nov 03, 2012 09:15 AM PDT DAKAR/LONDON (Reuters) - The mining arm of Israeli billionaire Beny Steinmetz's business empire has accused the government of Guinea of seeking to "illegally seize" its assets through a probe into how it won rights to mine part of a major iron ore deposit. Privately owned BSG Resources, which has been working in the West African country with Brazilian mining major Vale , confirmed it had received a letter from a government commission alleging improper behavior and graft in its winning of rights to develop blocks in the Simandou region. ... Full Story | Top |
| Harper says could block other foreign investments Saturday, Nov 03, 2012 08:48 AM PDT  OTTAWA (Reuters) - Prime Minister Stephen Harper, in some of his toughest remarks on foreign investment yet, signaled a willingness to block foreign purchases of Canadian companies if other countries are not open to Canadian investment. Speaking on the eve of a trip to India and other parts of Asia, Harper said in an interview published in Saturday's Postmedia newspapers that Canada as a general rule welcomes foreign investment. ... Full Story | Top |
| Canada extends review of CNOOC-Nexen deal to December 10 Saturday, Nov 03, 2012 03:54 AM PDT  (Reuters) - Canada said it has extended its review of a $15.1 billion bid by China's CNOOC Ltd for Canadian energy producer Nexen Inc by a month to December 10. Ottawa is conducting the review to determine whether a takeover by the Chinese state-owned enterprise would bring a "net benefit" to Canada. CNOOC launched China's richest foreign takeover bid in July when it agreed to buy Nexen, whose global portfolios include oil sands and shale gas. "The review period for CNOOC Limited's proposed acquisition of Nexen Inc. ... Full Story | Top |
| Rwanda's national carrier plans fleet expansion, listing Saturday, Nov 03, 2012 03:28 AM PDT KIGALI (Reuters) - Rwanda's national carrier plans to more than double its aircraft fleet in the next five years, and to list on the country's stock exchange once it turns profitable, a senior company executive said. At present Rwandair has a fleet of seven aircraft. It plans to increase this to 17 planes over the next five years, which would allow the airline to expand its route network to Europe, China and India, Chief Executive Officer John Mirenge told Reuters in an interview late on Friday. ... Full Story | Top |
| Guinea and UAE sign bauxite supply deal Saturday, Nov 03, 2012 12:14 AM PDT  DUBAI (Reuters) - Compagnie des Bauxites de Guinee (CBG) signed a long-term supply agreement with the United Arab Emirates for the main raw material in aluminium, the Gulf country's state news agency reported late on Friday. "The agreement with Mubadala will make a significant contribution to Guinea's economy by enabling the expansion of CBG to more than 20 million metric tons of bauxite per year," Guinean Mines Minister Mohamed Lamine Fofana was quoted as saying by the Emirates News Agency. ... Full Story | Top |
| Vimpelcom hires StanChart to handle asset sales-sources Friday, Nov 02, 2012 11:57 PM PDT  DUBAI/PARIS (Reuters) - Telecoms group Vimpelcom has hired Standard Chartered to advise it on the sale of its businesses in Burundi, Zimbabwe, Central African Republic, Cambodia and Laos, two people familiar with the matter said. New-York listed Vimpelcom wants to focus on its largest markets of Russia and Italy, while reducing its debt, the people said. The units on the block came to Vimpelcom when it bought a 51 percent stake in Egypt-based Orascom Telecom and all of Italy's Wind in 2011 for $6 billion. ... Full Story | Top |
| Analysis: GM badly lags Ford in Europe restructuring Friday, Nov 02, 2012 10:48 PM PDT  PARIS/DETROIT (Reuters) - Ford Motor Co, which clung to the road with a timely swerve before the 2009 crisis that bankrupted General Motors Co, may now be pulling a similar stunt in Europe. The Dearborn, Michigan-based automaker is scrapping three European plants and thousands of jobs while its rival appears to be stuck on the starting grid. The speed of Ford's restructuring plan - and the comparatively slow pace of GM's - has become more important during a protracted slump in Europe's auto market, with sales down another 7.2 percent so far this year. ... Full Story | Top |
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