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| Analysis: BP back in favor despite spill legacy, Russia doubts Sunday, Jan 26, 2014 12:54 PM PST  By Andrew Callus LONDON (Reuters) - If you had spent 10 pounds on BP shares on April 19, 2010, you would have just nine pounds now, including dividends. A poor investment, however you cut it, but also a remarkable recovery. A day later an explosion at the Deepwater Horizon oil rig in the Gulf of Mexico would deal the United States its worst offshore oil spill, and BP would face the wrath of President Barack Obama himself for the death and destruction it caused. Over the next two months, BP shares lost nearly two thirds of their value as the scale of the disaster threatened to sink the company. Full Story | Top |
| Analysis: Replay of energetic deal-making seen for drugmakers in 2014 Sunday, Jan 26, 2014 09:21 AM PST The torrid pace of deals in the pharmaceutical and biotechnology sectors through 2013 is not expected to let up this year, thanks to new technologies to address unmet medical needs. Between 2011 and 2016, patents in developed markets will expire on brand-name drugs that would otherwise have generated sales of $127 billion, according to data firm IMS Health. To replace some of the lost revenue, larger drugmakers are looking to bring in new products, often in areas of significant scientific advancement such as treatments for cancer, rare diseases and drugs designed to turn off the activity of rogue genes. There were 10 major M&A deals involving publicly traded biotech companies last year, led by Amgen Inc's $10 billion buyout of Onyx Pharmaceuticals. Full Story | Top |
| Syrian negotiators to hold separate political talks: delegate Sunday, Jan 26, 2014 07:34 AM PST Syrian government and opposition negotiators are to hold separate preparatory political discussions with international mediator Lakhdar Brahimi on Sunday after humanitarian talks stalled, opposition delegate Ahmad Ramadan said. Ramadan said the government delegation had yet to respond to opposition demands to release thousands of prisoners taken during almost three years of conflict and to allow humanitarian aid into the city of Homs. Full Story | Top |
| EU, Russia to swap recriminations over Ukraine Sunday, Jan 26, 2014 06:38 AM PST  By Adrian Croft BRUSSELS (Reuters) - European Union and Russian leaders will trade recriminations over Ukraine at a summit on Tuesday, as the former Soviet republic reels from violent unrest after spurning the EU's embrace and lurching back towards Moscow. Russian President Vladimir Putin travels to Brussels for talks with EU leaders at a time when relations are strained over Ukrainian President Viktor Yanukovich's decision in November to turn his back on a trade and political agreement with the EU in favour of closer trade ties with Russia. That decision, rewarded with a $15 billion bailout from Russia, sparked weeks of pro-EU demonstrations in Kiev which three protesters have been killed. The 28-nation EU, which accuses Russia of putting trade pressure on Ukraine and other ex-Soviet states tempted by closer ties with Brussels, showed its anger by cancelling the dinner that traditionally precedes its twice-yearly summits with Russia. Full Story | Top |
| Hungary soon to clinch Russian loan for nuclear plant project Sunday, Jan 26, 2014 03:39 AM PST  Hungary's development minister said on Sunday the government should soon complete talks with Russia on a multi-billion dollar sovereign loan that would enable it to start work on two new nuclear reactors. Russian President Vladimir Putin and Hungarian Prime Minister Viktor Orban signed an agreement earlier this month on a project to add 2.4 gigawatts of nuclear generation capacity at the Paks nuclear plant, more than doubling Hungary's current level. The two nations agreed on several aspects of the project, but the financing was left open. Minister Zsuzsanna Nemeth told national news agency MTI in an interview that she hoped the loan agreement would be wrapped up fairly quickly and that experts can begin coordinating technical details soon. Full Story | Top |
| Djibouti eyes energy reliance with geothermal plants Sunday, Jan 26, 2014 02:03 AM PST  The small African nation of Djibouti will invest $31 million in geothermal power plants to cut reliance on imported electricity from neighbouring Ethiopia, officials said. The country in the Horn of Africa has a population of less than a million people and peak demand of 70 megawatts of electricity, 65 percent of which comes through a line connecting the Djiboutian grid with that of Ethiopia, said Djama Ali Guelleh, director of electricity. The project, to be funded by a range of lenders such as the African Development Bank, will start in 2015, with the first phase producing 50 MW and output doubling after the second phase. Full Story | Top |
| South Sudan government, rebels say each other violating ceasefire Sunday, Jan 26, 2014 12:20 AM PST  By Carl Odera JUBA (Reuters) - The government and rebels in South Sudan traded accusations on Saturday of breaking a ceasefire deal supposed to calm violence that has driven half a million people from their homes. "The rebel forces are still continuing to attack our forces," Information Minister Michael Makeui Lueth said on arrival from Ethiopia where President Salva Kiir's government signed a deal on Thursday with the rebels led by former vice president Riek Machar. The deal came into effect on Friday night after a 24-hour window under an agreement brokered by regional grouping of nations IGAD. "If nothing is done by the IGAD, then definitely our forces will not fold their hands," Lueth said. Full Story | Top |
| China says U.S. should stop new dumping probe on solar products Sunday, Jan 26, 2014 12:02 AM PST  China's commerce ministry called on the United States on Sunday to stop anti-dumping investigations into imports of solar power products from China, expressing "serious concern" and vowing to defend its producers. U.S. trade officials on Thursday opened investigations into imports of certain solar power products from China and Taiwan, a move that could have a major impact on the nation's fast-growing solar market. The U.S. Department of Commerce said it initiated antidumping duty and countervailing duty investigations, which will assess whether the products are being sold in the United States below their fair value, or if their manufacturers receive inappropriate levels of foreign government subsidies. "China urges the United States again to carefully handle the current ... investigations, be prudent in taking measures and terminate the investigation proceedings." China will assess the impact on its solar industry and "resolutely defend" itself through various mechanisms, the ministry said. Full Story | Top |
| Tunisia premier lacks consensus on new caretaker cabinet Saturday, Jan 25, 2014 11:55 PM PST  By Tarek Amara TUNIS (Reuters) - Tunisia's new Prime Minister Mehdi Jomaa on Sunday was forced to delay naming a caretaker government to lead until elections after failing to reach a consensus over the key post of interior minister. Jomaa had planned to present his cabinet before the president on Saturday, but just after midnight the premier told at a press briefing there was no consensus over the cabinet list and he could not name the government. "It is not a question of a person, but rather I am looking for a real consensus in the government. It was a setback for Tunisia after its assembly finished the country's new constitution last week, progress widely praised as a model in contrast to upheaval in Libya, Egypt and Yemen who also ousted leaders in 2011 uprisings. Full Story | Top |
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