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| Funnel clouds, large hail and heavy rain pound U.S. Midwest Thursday, Apr 03, 2014 07:07 PM PDT A storm front packing funnel clouds, large hail and heavy rains rolled through the Midwest and southern United States on Thursday, leaving in its path downed trees and damaged homes, according to local media reports and police. Officials in Denton, Texas were assessing the damage after an early evening storm uprooted trees and dropped golf ball to softball size hail, according to Ryan Grelle, spokesman for the city's police department. In an area from the center of Texas to the northeast corner of Missouri, the National Weather Service noted 34 reports of strong winds that peeled off roofs and downed power lines, and 115 reports of hail. Full Story | Top |
| U.N. panel to weigh dangers of oil-by-rail cargo Thursday, Apr 03, 2014 05:47 PM PDT By Patrick Rucker WASHINGTON (Reuters) - A U.N. panel will examine the rules for handling the kind of oil-by-rail shipments involved in several recent fiery derailments in a move that could rattle the fast-growing sector. The U.N. panel for shipping hazardous materials said this week it accepted a request from U.S. and Canadian experts to revisit rules that govern shipping the kinds of fuel produced in energy areas such as North Dakota's Bakken. Specifically, the panel will examine whether rules for shipping crude oil properly account for dangerous pressure and volatile gases. "Unprocessed crude oil may present unique hazards based on the specific gas content, posing different hazards in transport," the U.N. panel on transporting dangerous goods said in a statement seen by Reuters. Full Story | Top |
| Obama briefs congressional leaders on Ukraine crisis Thursday, Apr 03, 2014 05:16 PM PDT  By Steve Holland WASHINGTON (Reuters) - President Barack Obama brought congressional leaders to the White House on Thursday for talks on the Ukraine crisis, with diplomatic efforts between the United States and Russia facing a hard slog. A week after a trip to Europe that was dominated by meetings to discuss ways to react to Russia's annexation of Crimea, Obama sat down with Democratic and Republican leaders of the U.S. Senate and the House of Representatives. Obama last spoke to Russian President Vladimir Putin on Friday by telephone. Full Story | Top |
| Scientists dismiss claims that Yellowstone volcano about to erupt Thursday, Apr 03, 2014 04:57 PM PDT  Yellowstone National Park assured guests and the public on Thursday that a super-volcano under the park was not expected to erupt anytime soon, despite an alarmist video that claimed bison had been seen fleeing to avoid such a calamity. Yellowstone officials, who fielded dozens of calls and emails since the video went viral this week following an earthquake in the park, said the video actually shows bison galloping down a paved road that leads deeper into the park. Contrary to online reports, it's a natural occurrence and not the end of the world," park spokeswoman Amy Bartlett said. Assurances by Yellowstone officials and government geologists that the ancient super-volcano beneath the park is not due to explode for eons have apparently done little to quell fears among the thousands who have viewed recent video postings of the thundering herd. Full Story | Top |
| Anadarko Petroleum settles U.S.-wide clean-up case for $5.15 billion Thursday, Apr 03, 2014 04:57 PM PDT  Energy company Anadarko Petroleum Corp agreed on Thursday to pay more than $5 billion to clean up areas across the United States polluted by nuclear fuel, wood creosote and rocket fuel waste that caused cancer and other health problems. The agreement resolves a long-running lawsuit against the Kerr-McGee energy and chemical company, which Anadarko bought in 2006. It was also seeking payment for claims from more than 8,000 people who said their exposure to Kerr-McGee's wood treatment plants in Avoca, Pennsylvania and Manville, New Jersey caused cancer, which in some cases led to death. "If you are responsible for 85 years of poisoning the earth, you are responsible for cleaning it up," the U.S. Attorney for Manhattan, Preet Bharara, said at a news conference announcing the settlement. Full Story | Top |
| Roche lung cancer pill gets reprieve in reversal Thursday, Apr 03, 2014 04:36 PM PDT LONDON (Reuters) - The National Institute for Health and Care Excellence (NICE) on Friday reversed an earlier decision to limit the use of Roche's Tarceva cancer pill on the state health service in a move the drugmaker said would help around 2,000 patients a year. New draft guidance from NICE now backs use of Tarceva for people with non-small-cell lung cancer that has progressed after chemotherapy in wider circumstances than originally suggested. ... Full Story | Top |
| Roche lung cancer pill gets reprieve in UK reversal Thursday, Apr 03, 2014 04:08 PM PDT Britain's health cost watchdog NICE on Friday reversed an earlier decision to limit the use of Roche's Tarceva cancer pill on the state health service in a move the drugmaker said would help around 2,000 patients a year. New draft guidance from the National Institute for Health and Clinical Excellence (NICE) now backs use of Tarceva for people with non-small-cell lung cancer that has progressed after chemotherapy in wider circumstances than originally suggested. NICE said its decision to maintain Tarceva access followed new evidence on the clinical and cost effectiveness of the drug, and also took into account the side-effect profile of the chemotherapy alternative. Full Story | Top |
| Mylan sues Celgene for blocking Revlimid, Thalomid generics Thursday, Apr 03, 2014 04:08 PM PDT Mylan Inc on Thursday sued Celgene Corp to stop the latter's effort to keep generic versions of two drugs that generate $4.5 billion of annual sales off the market. The lawsuit accuses Celgene of maintaining unlawful monopolies over Revlimid, which treats disorders caused by poorly formed blood cells; Revlimid is a branded version of lenalidomide, and is a derivative of thalidomide, a drug introduced in the 1950s for which Thalomid is a branded version. Mylan said both drugs can cost more than $100,000 for a year's supply. Full Story | Top |
| Bullish Anadarko options bets soar on settlement news Thursday, Apr 03, 2014 03:39 PM PDT By Angela Moon NEW YORK (Reuters) - Investors who loaded up on bullish options bets in Anadarko Petroleum earlier in the week made some hefty potential profits on Thursday when the global energy company announced a settlement that would end years of litigation over health problems across the United States. Anadarko Petroleum Corp shares hit an all-time high of $100 on Thursday before ending up 14.5 percent at $99.02. The jump in share prices sharply boosted the value of call options that had been trading actively in the last several days ahead of the announcement. "Since the options on Anadarko were not expensive in pure dollar value, for people who have been following the stock and expected some sort of a settlement, the potential reward was worth the potential risk they were putting in," said JJ Kinahan, chief strategist with TD Ameritrade in Chicago. Full Story | Top |
| Europe launches satellite to monitor environment, disasters Thursday, Apr 03, 2014 03:36 PM PDT By Victoria Bryan and Maria Sheahan DARMSTADT, Germany (Reuters) - Europe on Thursday launched the first satellite of its multibillion-euro Copernicus Earth observation project that will supply valuable images in the event of natural disasters or even a plane crash. The Sentinel-1a satellite, which blasted off into Earth's orbit from Europe's spaceport in French Guiana at 5.02 p.m. ET, will be used to monitor sea ice, oil spills and land use and to respond to emergencies such as floods and earthquakes. The Copernicus project, for which the European Union and the European Space Agency (ESA) have committed funding of around 8.4 billion euros ($11.5 billion) until 2020, is described by the ESA as the most ambitious earth observation program to date. Copernicus is designed to supply data that can help policymakers develop environmental legislation or react to emergencies such as natural disasters or humanitarian crises. Full Story | Top |
| Exxon Mobil agrees to share more data on fracking risks Thursday, Apr 03, 2014 02:54 PM PDT Exxon Mobil Corp, the world's largest publicly traded oil company, has agreed to disclose more information about the environmental risks of hydraulic fracturing, the process known as fracking. In an agreement with New York City's pension funds, which control Exxon shares worth roughly $1.02 billion, the company would report on risks surrounding disposal of fracking waste water, air pollution, methane emissions from oil and natural gas wells, and other issues. Exxon plans to compile the information and publish it as a report on its website by September. The New York City Comptroller's office, which controls the city's pension funds, agreed as part of the deal to withdraw a shareholder proposal that would have put the disclosure issue up for a vote at the company's next annual meeting. Full Story | Top |
| Algeria's Bouteflika meets with Kerry, talks security Thursday, Apr 03, 2014 02:29 PM PDT  By Patrick Markey ALGIERS (Reuters) - Algerian President Abdelaziz Bouteflika met with U.S. Secretary of State John Kerry on Thursday, discussing better security cooperation in the Maghreb region in one of his longest appearances since a stroke a year ago. The images broadcast by state television showed Bouteflika standing to greet Kerry and discussing through an interpreter how to improve cooperation between the two countries who are allies in the fight against Islamist militancy. In the clip, only a part of the meeting, Bouteflika exchanged greetings and joked in French with Kerry about the U.S. official winning a Nobel prize. He also asked about getting more electronic intelligence sharing from Washington. Full Story | Top |
| Wall Street dips as investors wary before jobs data Thursday, Apr 03, 2014 02:15 PM PDT  By Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks slipped on Thursday, as investors turned cautious ahead of Friday's monthly jobs report, while a drop in biotech and momentum shares dragged the Nasdaq down nearly 1 percent. The Dow ended down just a fraction of a point, within about 4 points of its record closing high of 16,576.66 set on December 31. The Dow posted an all-time intraday high during the session. It's not just going to have one good year and be done," said Randy Warren, chief investment officer of Warren Financial Service in Exton, Pennsylvania. Full Story | Top |
| TSX retreats as investors brace for jobs report Thursday, Apr 03, 2014 01:52 PM PDT  By John Tilak TORONTO (Reuters) - Canada's main stock index fell on Thursday as sluggish U.S. economic data increased investor anxiety ahead of an upcoming jobs report and a drop in bullion hurt gold-mining shares. The Toronto market's weakness followed gains in each of the previous four sessions. It is up about 5.7 percent this year. Investors also digested news that the European Central Bank left interest rates unchanged, though it said it was willing to act if inflation stays too low for too long. ... Full Story | Top |
| Libya sees 'good intentions' in oil port talks; rebel split seen Thursday, Apr 03, 2014 01:49 PM PDT By Ayman al-Warfalli and Feras Bosalum BENGHAZI/TRIPOLI, Libya (Reuters) - Libya has seen evidence of "good intentions" at indirect talks with eastern rebels which could lead to the lifting of their blockage of major oil ports within days, a government minister said on Thursday. But in an example of the chaos and shifting alliances typical of the OPEC producer, divisions in the rebel camp became apparent on Thursday when a senior member told Reuters he and seven others had quit the rebels' leadership team in a conflict with top leader Ibrahim Jathran. Any deal will help stabilize the North African country, whose weak government seems unable to control militias who helped oust Muammar Gaddafi in 2011 but kept their guns and made political demands on the state. "There are good intentions," acting Oil Minister Omar Shakmak told reporters in the eastern city of Benghazi, making clear that the contacts were taking place through tribal leaders who were negotiating with the port rebels. Full Story | Top |
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