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| Exxon pipeline leaks thousands of barrels of oil in Arkansas Saturday, Mar 30, 2013 07:03 PM PDT NEW YORK (Reuters) - An Exxon Mobil crude oil pipeline ruptured near Mayflower, Arkansas, spilling thousands of barrels of oil, the company said. Exxon shut the 20-inch Pegasus pipeline, which carries crude oil from Pakota, Illinois, to the Gulf Coast, after the leak was discovered on Friday afternoon. Exxon said a few thousand barrels of oil had been observed. Local media reported the spill occurred in a subdivision, and city of Mayflower police said the oil had not reached the nearby Lake Conway. ... Full Story | Top |
| CA-BUSINESS Summary Saturday, Mar 30, 2013 02:49 PM PDT Record Wall Street boosts sentiment, U.S. holds key in Q2 TOKYO (Reuters) - Whether the world's largest economy can sustain momentum will be a primary focus for investors for the next three months after a general recovery trend in the United States helped risk sentiment for broad markets in the first quarter of 2013. Asian shares edged higher and the euro steadied on Friday after banks in Cyprus reopened to relative calm. Overall trade was subdued, with many Asian markets, including Australia, Singapore and Hong Kong, closed on Friday for Easter holidays. ... Full Story | Top |
| EU, IMF resisting Greek bank NBG's takeover of Eurobank: sources Saturday, Mar 30, 2013 02:49 PM PDT  By George Georgiopoulos ATHENS (Reuters) - Greece's international lenders have asked Athens to halt National Bank's takeover of rival Eurobank, worried that the resulting lender would be too big for the state to deal with, two bankers close to the talks told Reuters on Saturday. The lenders' concerns come as an unexpected twist in the takeover deal, which was launched in October and completed with a share swap. The two banks have already begun integrating operations after getting approval by authorities. National Bank, Greece's biggest lender, took over 84. ... Full Story | Top |
| Argentina puts forward alternative payment plan in bond dispute Saturday, Mar 30, 2013 01:40 PM PDT  By Nate Raymond NEW YORK (Reuters) - Argentina is pitching an alternative payment formula to a U.S. appeals court that would allow it to resolve litigation with creditors holding defaulted bonds for which they are demanding to be paid $1.33 billion. In a filing late on Friday with the 2nd U.S. Circuit Court of Appeals in New York, Argentina proposed to pay creditors who did not participate in two restructurings through a choice of bonds equal to the debt's value at the time of the country's 2002 default, or through discount bonds. ... Full Story | Top |
| Leadership fight divides Occidental shareholders: report Saturday, Mar 30, 2013 11:15 AM PDT (Reuters) - Occidental Petroleum Corp chairman and former chief executive Ray Irani is pushing to replace the oil company's current CEO, Stephen Chazen, the Wall Street Journal reported on Saturday, citing "investors and people familiar with the company's operations." However, several big investors who support Chazen have considered the possibility of trying to vote some directors, including Irani, off the board, the newspaper said, citing "people familiar with their plans." The debate over the leadership of the fourth-largest U.S. ... Full Story | Top |
| Monte Paschi says lost billions in deposits after Feb scandal Saturday, Mar 30, 2013 09:47 AM PDT  MILAN (Reuters) - Customers' deposits at Italian bank Monte dei Paschi fell by "a few billion euros" after a scandal erupted in February over loss-making derivatives trades at the lender, the bank said in a document posted on its web site on Saturday. Monte dei Paschi last week reported a higher-than-expected net loss for the whole of 2012 on the back of a rise in provisions for bad loans and 730 million euros in losses on the derivatives trades, which are at the center of a fraud. But it has yet to make clear what impact the scandal itself had on its first quarter results. ... Full Story | Top |
| Cyprus details heavy losses for major bank customers Saturday, Mar 30, 2013 08:45 AM PDT  By Karolina Tagaris NICOSIA (Reuters) - Major depositors in Cyprus's biggest bank will lose around 60 percent of savings over 100,000 euros, its central bank confirmed on Saturday, sharpening the terms of a bailout that has shaken European banks but saved the island from bankruptcy. Initial signs that big depositors in Bank of Cyprus would take a hit of 30 to 40 percent - the first time the euro zone has made bank customers contribute to a bailout - had already unnerved investors in European lenders this week. ... Full Story | Top |
| Belgium agrees savings, asset sales to meet EU budget demands Saturday, Mar 30, 2013 07:20 AM PDT  By Philip Blenkinsop BRUSSELS (Reuters) - Belgium agreed to make 1.4 billion euros ($1.8 billion) of savings and to sell 1 billion euros of state-owned assets on Saturday, as it strives to meet EU budget targets and avoid being drawn into the euro zone's debt crisis. With debt approaching 100 percent of national output (GDP), Belgium has some of the weakest public finances in the euro zone's northern "core", partially due to an almost two-year political stalemate that was only resolved in late 2011. ... Full Story | Top |
| Areva CEO says would be interested in Urenco stake: paper Saturday, Mar 30, 2013 06:31 AM PDT  PARIS (Reuters) - French nuclear group Areva would be interested in taking a stake in uranium enrichment firm Urenco, Areva's CEO was quoted as saying on Saturday. Urenco, owned by the British and Dutch states and Germany's two top utilities, is up for sale and Areva - which already has a partnership with Urenco - is believed to be a leading contender to buy a stake in the firm. Areva so far had played down its possible interest in Urenco. ... Full Story | Top |
| BHP freezes its mining projects in Gabon: sources Saturday, Mar 30, 2013 01:25 AM PDT  LIBREVILLE (Reuters) - Top global miner BHP Billiton is freezing all its projects in Gabon, mining ministry sources said on Friday, dashing government hopes for sizeable investments in manganese and iron ore production. A spokesman for BHP could not immediately be reached for comment. The company holds licences in the Central African country for the mining of manganese at Mounana, 650 km east of the capital Libreville, and at Okondja, 150 km further to the north. ... Full Story | Top |
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