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| Premier Li says solar trade dispute touches China's major interests: report Monday, Jun 03, 2013 07:33 PM PDT  SHANGHAI (Reuters) - China's premier told a top European Union official that the trade dispute over Chinese solar panel exports touches China's "major economic interests" and could influence broader Chinese-EU relations if not properly resolved. In a phone call with European Commission President José Manuel Barroso late on Monday, Chinese Premier Li Keqiang said that China is closely following the dispute, the official Xinhua news agency reported on Tuesday. ... Full Story | Top |
| AIG, GM rejoin S&P 500 nearly five years after bailout Monday, Jun 03, 2013 05:18 PM PDT  DETROIT (Reuters) - American International Group Inc and General Motors Co will rejoin the S&P 500 index this week, marking a key milestone in the recovery of two companies that needed billions of dollars to stay afloat during the financial crisis. AIG and GM will rejoin the S&P 500 after the stock market closes on Thursday, the S&P Dow Jones Indices said on Monday. The move represents a symbolic victory for AIG and GM, which have taken steps to overhaul their operations and return to viability since their near-collapse about five years ago. ... Full Story | Top |
| Death toll from Oklahoma tornadoes, storms rises to 18 Monday, Jun 03, 2013 03:48 PM PDT  (Reuters) - The death toll from Friday's tornadoes and storms in Oklahoma has risen to 18 people, including six children and 12 adults, the Oklahoma chief medical examiner said on Monday. Officials added five victims on Monday to the confirmed list of dead from the tornadoes and from storms that caused severe flooding: three adults and two unidentified children, the medical examiner's office said. (Reporting by David Bailey; Editing by Cynthia Johnston) Full Story | Top |
| China lends Costa Rica $400 million on Xi visit Monday, Jun 03, 2013 03:41 PM PDT  By Isabella Cota SAN JOSE (Reuters) - China lent Central American ally Costa Rica nearly $400 million on Monday during a visit by Chinese President Xi Jinping to a region where Beijing has traditionally vied with rival Taiwan for influence. Costa Rica recently backed China in its dispute with Taiwan, which Beijing regards as a renegade province, in votes at the United Nations. Members of the Costa Rican opposition said the deals announced on Monday raised questions about what China expected in return. ... Full Story | Top |
| Wall Street extends gains; Nasdaq turns positive Monday, Jun 03, 2013 03:19 PM PDT  NEW YORK (Reuters) - Stocks extended their gains in a volatile session on Monday, with the Nasdaq turning positive on strength in Intel Corp , which soared 3.5 percent to $25.14. The Dow Jones industrial average was up 124.25 points, or 0.82 percent, at 15,239.82. The Standard & Poor's 500 Index was up 7.91 points, or 0.49 percent, at 1,638.65. The Nasdaq Composite Index was up 3.44 points, or 0.10 percent, at 3,459.35. (Reporting by Ryan Vlastelica; Editing by James Dalgleish) Full Story | Top |
| Food manufacturers push for end to sugar-to-ethanol program Monday, Jun 03, 2013 03:01 PM PDT By Chris Prentice WASHINGTON (Reuters) - Food manufacturers and big sugar buyers said on Monday they believe a proposed U.S. sugar-to-ethanol program will cost twice as much as a government estimate and urged congress to repeal it as part of broader changes in sugar policy. The program, which would allow the government to buy excess sugar and sell it to biofuel manufacturers, stands to cost the U.S. government $100 million in the fiscal year through October 1, said Agralytica food policy consultant Tom Earley on behalf of the Coalition for Sugar Reform. ... Full Story | Top |
| China's latest manned space mission to launch this month Monday, Jun 03, 2013 02:49 PM PDT  BEIJING (Reuters) - China will launch its next manned rocket in the middle of this month, carrying three astronauts to an experimental space module, state media said on Monday, the latest stage of an ambitious plan to build a space station. The Shenzhou 10 space ship and its rocket had already been moved to the launch area at a remote site in the Gobi desert, the official Xinhua news agency reported. Once in orbit, the Shenzhou 10 will link up with the Tiangong (Heavenly Palace) 1 module, which was moved into the correct orbiting position last month. ... Full Story | Top |
| New drugs trail many old ones in effectiveness against disease Monday, Jun 03, 2013 01:04 PM PDT By Sharon Begley NEW YORK (Reuters) - Despite the more than $50 billion that U.S. pharmaceutical companies have spent every year since the mid-2000s to discover new medications, drugmakers have barely improved on old standbys developed decades ago. Research published on Monday showed that the effectiveness of new drugs, as measured by comparing the response of patients on those treatments to those taking a placebo, has plummeted since the 1970s. ... Full Story | Top |
| U.S. expands search team in GMO wheat investigation Monday, Jun 03, 2013 11:25 AM PDT  By Charles Abbott and Jane Chung WASHINGTON, SEOUL (Reuters) - The United States has expanded its search team in Oregon as it hunts for the source of unapproved genetically modified wheat found growing wild on a farm there in April. An Agriculture Department spokesman told Reuters on Monday that a team of 15 is now collecting evidence and information, versus nine investigators on the ground last week. He said there are "no indications that there is any GE (genetically engineered) wheat in commerce." Preliminary tests on U.S. ... Full Story | Top |
| Rosneft in no rush to sell assets: CFO Monday, Jun 03, 2013 10:32 AM PDT  By Melissa Akin and Sophie Sassard MOSCOW/LONDON (Reuters) - Russia's Rosneft is under no pressure to sell assets to fund debt repayments and will decide how to streamline its business once cost savings from a takeover of rival TNK-BP become clear, its finance chief said on Monday. Announcing Rosneft's $55 billion takeover of rival TNK-BP last year, Chief Executive Igor Sechin said the state-controlled oil major would look to sell non-core and less profitable assets. ... Full Story | Top |
| Clovis shares double on positive early data for lung cancer drug Monday, Jun 03, 2013 08:54 AM PDT (Reuters) - Clovis Oncology said initial results of an early-stage trial of its experimental lung cancer drug showed a reduction in tumor size, prompting investors to more than double the company's market value on Monday. The experimental therapy, named CO-1686, aims to treat non-small-cell lung cancer (NSCLC) in patients with a mutation in gene T790M. "(The) data was extremely impressive and we believe further highlights the drug's paradigm changing potential for at least refractory NSCLC patients with (this) mutation," Leerink Swann analyst Marko Kozul wrote in a note. ... Full Story | Top |
| Synta shares fall after lung cancer trial results Monday, Jun 03, 2013 08:02 AM PDT CHICAGO (Reuters) - Shares of Synta Pharmaceuticals Corp fell by nearly one-third on Monday morning on disappointing results from its trial of an experimental lung cancer drug. The drug, ganetespib, was shown in a mid-stage trial to improve survival in patients with advanced lung cancer that worsened after initial treatment, but the results led some investors to reassess the outlook. BMO analyst Jim Birchenough said that while the risk of death and disease progression appears positive for ganetespib, the difference in patient deaths is relatively small. ... Full Story | Top |
| Nigeria lays out plans to privatise 10 power plants Monday, Jun 03, 2013 06:42 AM PDT  By Joe Brock ABUJA (Reuters) - Nigeria will privatise 10 more state power plants by mid-2014, advisers to the government said on Monday, as part of plans to overhaul the country's feeble electricity sector. President Goodluck Jonathan pledged nearly three years ago to privatise the bulk of Nigeria's electricity sector, in an effort to end chronic power shortages that are the biggest brake on growth in Africa's second largest economy. ... Full Story | Top |
| Iraqi Kurd leader says Baghdad talks last chance Monday, Jun 03, 2013 05:08 AM PDT  By Isabel Coles ARBIL, Iraq (Reuters) - Iraqi Kurdistan will be forced to seek a "new form of relations" with the central government in Baghdad if negotiations fail to resolve their disputes over oil and land, the president of the autonomous region said. Masoud Barzani, who has hinted at full independence from Iraq in the past, told Reuters the current round of talks, which started last month, marked the final opportunity to end a feud that has strained Iraq's uneasy federal union to the limit. ... Full Story | Top |
| South Sudan says Total partners with Exxon Mobil in oil exploration Monday, Jun 03, 2013 03:59 AM PDT  By Hereward Holland JUBA (Reuters) - French oil company Total will partner with U.S. major Exxon Mobil and Kuwait's Kufpec in South Sudan to search for oil in the restive Jonglei state, a senior lawmaker in the African country said. Sudan's 1983-2005 civil war prevented Total, which has held a majority interest in Block B since the early 1980s, from exploring the 120,000 square-km concession in Jonglei in the east of the country. Last year South Sudan's government said it was negotiating with Total to split the block to speed up exploration and raise much-needed government revenue. ... Full Story | Top |
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