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| Siemens chief faces exit as board votes on his job Tuesday, Jul 30, 2013 06:02 PM PDT FRANKFURT (Reuters) - The supervisory board of Siemens will seal the fate of Chief Executive Peter Loescher on Wednesday when it votes for his early dismissal in one of Germany's most dramatic boardroom battles in years. The board meeting comes after Siemens last week issued its second profit warning this year, adding to signs that Loescher was struggling to turn around one of Germany's biggest engineering conglomerates. ... Full Story | Top |
| Bloomberg's ban on big sodas is unconstitutional: appeals court Tuesday, Jul 30, 2013 03:58 PM PDT  By Joseph Ax NEW YORK (Reuters) - New York City Mayor Michael Bloomberg's controversial plan to keep large sugary drinks out of restaurants and other eateries was rejected by a state appeals court on Tuesday, which said he had overstepped his authority in trying to impose the ban. The law, which would have prohibited those businesses from selling sodas and other sugary beverages larger than 16 ounces (473 ml), "violated the state principle of separation of powers," the First Department of the state Supreme Court's Appellate Division said. ... Full Story | Top |
| Keyera, Kinder Morgan to build new Canada crude-by-rail terminal Tuesday, Jul 30, 2013 03:40 PM PDT CALGARY, Alberta (Reuters) - Keyera Corp and Kinder Morgan Energy Partners LP announced on Tuesday a $98 million joint venture to build a crude oil rail-loading terminal in Edmonton, Alberta, one of the main storage hubs for Canada's oil sands. The project is the latest development to cater to the growing demand among Canadian producers, frustrated by apportionment on congested pipelines, to use railways to export crude south to U.S. markets. ... Full Story | Top |
| SpaceX wins bid to launch Canadian radar satellites Tuesday, Jul 30, 2013 03:23 PM PDT By Irene Klotz (Reuters) - Privately owned Space Exploration Technologies was selected to launch a trio of Canadian radar satellites aboard a single Falcon 9 rocket, the company announced on Tuesday. The California-based firm, also known as SpaceX, already is flying NASA cargo to the International Space Station, a permanently staffed research outpost that flies about 250 miles above Earth. Owned and operated by Internet entrepreneur Elon Musk, the company is also working on a space taxi to fly astronauts to the orbital outpost. A relative newcomer to the U.S. ... Full Story | Top |
| S&P 500, Nasdaq end up as tech gains; potash shares sink Tuesday, Jul 30, 2013 03:13 PM PDT  By Caroline Valetkevitch NEW YORK (Reuters) - The S&P 500 and Nasdaq ended higher on Tuesday, lifted by gains in the technology sector, while potash shares were the day's big losers. The tech sector index rose 0.7 percent, leading the S&P 500's advance. Facebook's stock jumped 6.2 percent to close at $37.63, within striking distance of its $38 IPO price. The stock - the most actively traded on Nasdaq - rose as much as 7 percent to a session high of $37.96. Facebook's stock has gained 42 percent since the company reported blowout quarterly results last Wednesday. ... Full Story | Top |
| Canadian Oil Sands profit up, but missed expectations Tuesday, Jul 30, 2013 03:08 PM PDT CALGARY, Alberta (Reuters) - Canadian Oil Sands Ltd , which owns the largest stake in the Syncrude Canada Ltd oil sands project in northern Alberta, said on Tuesday its quarterly profit more than doubled on higher oil production and strengthened prices, though it lowered its annual production estimate because of maintenance issues. ... Full Story | Top |
| BHP faces $14 billion potash decision as price war looms Tuesday, Jul 30, 2013 02:21 PM PDT  By Clara Ferreira-Marques and Rod Nickel LONDON/WINNIPEG, Canada (Reuters) - Miner BHP Billiton's new boss is facing his biggest test to date as he weighs the fate of a $14 billion Canadian potash project just as the collapse of a dominant potash cartel puts more pressure on already weak prices. The Jansen project in Canada's Saskatchewan province was a tough call for BHP Chief Executive Andrew Mackenzie even before Tuesday, with mining investors reluctant to spend on big-ticket projects and most also cool on an oversupplied potash market. ... Full Story | Top |
| New EPA chief takes on critics of U.S. agency's policies Tuesday, Jul 30, 2013 01:15 PM PDT By Richard Valdmanis and Valerie Volcovici CAMBRIDGE, Mass./WASHINGTON (Reuters) - Delivering her first speech as the top U.S. environmental steward, Gina McCarthy on Tuesday pre-empted a frequent mantra of critics of the Environmental Protection Agency - that the agency's regulations disrupt the economy and cost jobs. The benefits derived from rules to address climate change and protect the environment far outweigh their costs, said McCarthy, who was confirmed by the U.S. Senate on July 18 as EPA administrator. ... Full Story | Top |
| Security headaches dampen investor enthusiasm in Libya Tuesday, Jul 30, 2013 10:36 AM PDT  By Marie-Louise Gumuchian TRIPOLI (Reuters) - The men, some of them armed, arrived at the gates of the Al Hani General Construction Company compound on the outskirts of the Libyan capital and forced their way into the site. The 30 former employees charged towards the company's offices, where they demanded wages and other payments they said were due from the North African country's 2011 war, when many firms stopped work. They threatened two senior employees with a pistol. They kidnapped one of them before freeing him several hours later. ... Full Story | Top |
| Exclusive: Schneider nears $5 billion Invensys deal - sources Tuesday, Jul 30, 2013 10:19 AM PDT By Sophie Sassard and Soyoung Kim LONDON/NEW YORK (Reuters) - France's Schneider Electric is nearing a 3.3 billion pound ($5.07 billion) deal to acquire British engineer Invensys and could announce it at its results on Wednesday, three people with direct knowledge of the matter said. The structure of the share and cash deal is expected to remain "roughly" the same as the one initially presented earlier this month as no other bidder has emerged to challenge Schneider's bid, said the people who asked not to be named because the talks are private. ... Full Story | Top |
| Entergy to cut jobs, mulls future of wholesale nuclear Tuesday, Jul 30, 2013 10:04 AM PDT HOUSTON (Reuters) - Power company Entergy Corp is mulling the future of its wholesale nuclear operation and plans to cut 800 jobs to save up to $250 million by 2016, Chief Executive Officer Leo Denault told investors on Tuesday. As part of his reorganization plan to simplify Entergy's corporate structure, Denault said the company is studying options for its non-utility owned power plants, mainly its aging nuclear plants operating in the U.S. Northeast which face falling wholesale prices and a difficult regulatory environment. ... Full Story | Top |
| U.S. slaughterhouse workers, truckers fuel deadly piglet virus spread Tuesday, Jul 30, 2013 09:31 AM PDT By P.J. Huffstutter CHICAGO (Reuters) - Questionable hygiene practices among meat processing plant employees, freight truck drivers and others who work at hog slaughter houses are aiding in the spread of porcine epidemic diarrhea virus across the United States, according to research conducted by the University of Illinois staff. PEDv is spread most commonly by pigs ingesting contaminated feces. The virus, which is deadly to very young piglets, does not pose a health risk to humans or other animals and the meat from PEDv-infected pigs is safe for people to eat, according to federal officials. ... Full Story | Top |
| JPMorgan to pay $410 million to settle power market case Tuesday, Jul 30, 2013 09:31 AM PDT  By Scott DiSavino NEW YORK (Reuters) - JPMorgan Chase & Co agreed on Tuesday to pay $410 million to settle allegations of power market manipulation in California and the Midwest, the latest in a series of high-profile inquiries by U.S. federal energy regulators. The settlement, announced by the Federal Energy Regulatory Commission (FERC), will allow Chief Executive Jamie Dimon to close the books on one of several costly run-ins with regulators over the past year. It came days after the bank said it was quitting the physical commodities business. ... Full Story | Top |
| Car bomb defused outside hotel in Libyan capital Tuesday, Jul 30, 2013 09:30 AM PDT By Marie-Louise Gumuchian TRIPOLI (Reuters) - Libyan security forces defused a dozen bombs found in a car parked outside a luxury hotel in the capital Tripoli, the interior ministry said on Tuesday. The car was parked near the Radisson-Blu, a seafront hotel popular with foreign business people, on Monday evening. The bombs were discovered a week after officials said another large hotel may have been the target of a rocket that landed nearby. ... Full Story | Top |
| Aegerion raises revenue forecast; shares jump 26 percent Tuesday, Jul 30, 2013 09:09 AM PDT (Reuters) - Aegerion Pharmaceuticals Inc raised its full-year revenue forecast following strong sales growth for its cholesterol-lowering drug Juxtapid in the second quarter, sending its shares up as much as 26 percent. The number of patients receiving the therapy rose 185 percent in the quarter from the first quarter, while new patients waiting to receive the drug more than doubled. Juxtapid was approved in December as an alternative treatment for patients who have a genetic predisposition to high cholesterol. The company launched the drug in late-January. ... Full Story | Top |
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