Developing

  • Conrad Black Released From US Prison

    Sky News - Fri, May 4, 2012

    A US official says former media mogul Conrad Black is back in Canada after being released from prison. More »Conrad Black Released From US Prison

  • EU green power needs market access to thrive - draft

    Reuters - Fri, May 4, 2012

    PARIS (Reuters) - Free access to emerging renewable energy markets such as Brazil, China and India will be a major factor in helping the European Union maintain its lead in green energy, according to draft documents seen by Reuters. A draft European Commission communication on renewable energy, expected to be published later this month, said EU member states need to share renewables across borders with the help of improved infrastructure and underlined the urgency of agreeing on new laws to guide investment. ... More »EU green power needs market access to thrive - draft

  • Warship in narrow escape ahead of Olympic test

    Reuters - Fri, May 4, 2012

    ABOARD HMS OCEAN, GREENWICH, England (Reuters) - Britain's biggest warship narrowly escaped a spot of trouble on Friday when it just scraped through a tight gap on the Thames river on its way to join a pre-Olympics exercise in London. It was always going to be a squeeze for the 35-metre wide helicopter carrier HMS Ocean to safely sail through one of the 61-metre gaps in the moveable flood barriers which lie downstream on the Thames from the centre of the British capital. ... More »Warship in narrow escape ahead of Olympic test

  • Ensco pays to clear legs of rig sunk in 2008 storm

    Reuters - Fri, May 4, 2012

    (Reuters) - Ensco Plc has agreed to pay to remove the legs of a rig that sank in the Gulf of Mexico during Hurricane Ike nearly four years ago, as the drilling contractor gears up for a related liability court battle due to start this year. The wreckage of Ensco 74 has been a persistent problem for the company. After sinking in September 2008, the jackup rig's hull was only found six months later when it was struck by an oil tanker, 95 miles (153 km) away from the drilling location. ... More »Ensco pays to clear legs of rig sunk in 2008 storm

  • Nigeria Islamists storm prison, kill guards - police

    Reuters - Fri, May 4, 2012

    Maiduguri, NIGERIA (Reuters) - Nigeria's Boko Haram militants stormed a prison in their north-eastern heartland on Friday, killing two guards and freeing the inmates, police said, in the latest in a surge of attacks blamed on the Islamist group. A police spokesman for Borno state, in the northeast of Africa's top oil producer, said 23 suspects had since been arrested. "The BH (Boko Haram) first attacked the Banki police station but they were repelled ... They then went to Kumshe, a nearby town, and attacked the prison lockup killing two officials before setting all the inmates free," he said. ... More »Nigeria Islamists storm prison, kill guards - police

  • 'Avengers' flex muscles at midnight box office

    Reuters - Fri, May 4, 2012

    LOS ANGELES (Reuters) - "The Avengers," a superhero movie mash-up of Marvel comics characters, flexed its muscles in U.S. and Canadian midnight screenings on Friday, earning $18.7 million and starting Hollywood's summer season with a bang. The movie, from Walt Disney Co. unit Marvel Studios, staked its claim to the second-highest midnight debut for a non-sequel film, coming in about $1 million shy of the March 2012 total for "The Hunger Games" at $19.74 million, according to industry tracker Hollywood.com. ... More »'Avengers' flex muscles at midnight box office

  • UK demands Argentina apologise for Falklands ad

    Reuters - Fri, May 4, 2012

    LONDON (Reuters) - Britain demanded an apology from Argentina on Friday, accusing it of exploiting the upcoming Olympic Games for political purposes by broadcasting a "tasteless and insulting" TV advert that reasserted its claim to the disputed Falkland Islands. The offending advert shows an Argentine hockey player training in the Falklands - the contested archipelago in the South Atlantic which the two countries fought over in 1982 - and exercising on the steps of a war memorial to British soldiers. ... More »UK demands Argentina apologise for Falklands ad

  • Goldman Sachs eyes CDS trading with platform

    Reuters - Fri, May 4, 2012

    LONDON (Reuters) - Goldman Sachs may extend its new bond trading platform to cover other fixed income products such as credit derivatives after it starts trading corporate bonds this month, sources close to the firm said on Friday. The New York-based investment bank plans to launch in the coming weeks an electronic bond trading system called GSessions. But a source close to the firm said on Friday the bank may extend the system's coverage to other asset classes, specifically credit default swaps (CDS), in a later version. "Credit derivatives could be applicable. ... More »Goldman Sachs eyes CDS trading with platform

  • Trainline sale on track, second round bids due

    Reuters - Fri, May 4, 2012

    LONDON (Reuters) - Exponent Private Equity's sale of British rail ticket retailer and information provider thetrainline.com is on track with a number of interested buyers going through to the next round of bidding, banking sources said on Friday. Exponent, which bought the company for 163 million pounds in 2006 from Virgin backed by 116 million pounds debt, according to Thomson Reuters LPC data, is seeking to sell the company with a price tag of over 300 million. Rothschild is advising on the process and first round bids were received at the end of last month. Exponent declined to comment. ... More »Trainline sale on track, second round bids due

  • Mining shares push FTSE to worst one-day fall in 2 weeks

    Reuters - Fri, May 4, 2012

    LONDON (Reuters) - Benchmark stock market suffered its worst daily fall in two weeks on Friday after mining shares dropped on the back of weak America jobs data, and fund managers said the index was unlikely to make much headway in the near term. The benchmark FTSE 100 index closed down 1.9 percent at 5,655.06 points, erasing a 0.2 percent gain the previous day and losing 2.1 percent over the week. Mining stocks, which along with other basic materials companies count for nearly a third of the FTSE 100 in terms of their combined market capitalisation, were the worst performers. ... More »Mining shares push FTSE to worst one-day fall in 2 weeks

  • Anti-EU party says PM faces "political earthquake"

    Reuters - Fri, May 4, 2012

    LONDON (Reuters) - The leader of Britain's biggest anti-European Union party said on Friday his best-ever local election result was the first tremor of a political earthquake that would tear out a crucial chunk of the ruling Conservative Party's electoral support. Nigel Farage, leader of the small UK Independence Party (UKIP) and known for his grandiloquent gestures, assumed a cool yet buoyant demeanour after local elections dealt a drubbing to David Cameron's Conservatives and rattled lawmakers eyeing 2015 national elections. Time, he felt, was on his side. ... More »Anti-EU party says PM faces "political earthquake"

  • Sinn Fein sees route to power in Irish austerity

    Reuters - Fri, May 4, 2012

    DUBLIN (Reuters) - Sinn Fein hopes to ride a wave of anger against austerity measures to achieve its ambition of ruling Ireland, its leader Gerry Adams said on Friday, as misgivings about its role in the Northern Ireland conflict fade. The political wing of the now-defunct Irish Republican Army has seen its support surge since Ireland's Celtic Tiger economy began to collapse in 2008 and is now the second most popular party in the country, according to opinion polls. ... More »Sinn Fein sees route to power in Irish austerity

  • Five groups eye E.ON, RWE UK nuclear venture Horizon

    Reuters - Fri, May 4, 2012

    LONDON (Reuters) - Five groups, including Chinese, U.S. and Middle Eastern investors, are interested in buying E.ON and RWE's British nuclear joint venture Horizon, a senior industry source said, highlighting renewed international investor appetite for Europe's nuclear industry. "There are five groups interested overall. The preferred bidder will be the one who can take the site and build on it as fast as possible," said the source, who has direct knowledge of the deals but who asked not to be identified. RWE and E. ... More »Five groups eye E.ON, RWE UK nuclear venture Horizon

  • Court fines UK power firm SSE over doorstep selling

    Reuters - Fri, May 4, 2012

    LONDON (Reuters) - British utility SSE was fined 1.25 million pounds on Friday by an English court for the mis-selling of energy supply contracts to consumers at their front doors three years ago. SSE will not challenge the verdict and will pay the fine in full, it said. "We accept that a company of SSE's standing and with SSE's values should not have found itself in this position and we are very sorry that it did," said Stephen Forbes, SSE's director of sales, marketing and energy services. ... More »Court fines UK power firm SSE over doorstep selling

  • Germany's FinMin - new Greek government must respect pledges

    Reuters - Fri, May 4, 2012

    COLOGNE, Germany (Reuters) - German Finance Minister Wolfgang Schaeuble said on Friday the next Greek government must abide by commitments made by Athens under its EU/IMF bailout programme or "bear the consequences". Schaeuble issued his carefully veiled warning two days before a Greek election in which radical anti-bailout parties are expected to perform well, raising the risk of the country's eventual exit from the euro zone. ... More »Germany's FinMin - new Greek government must respect pledges

  • Oil dives $4, set for biggest 3-day rout since August

    Reuters - Fri, May 4, 2012

    * U.S. April non-farm jobs weaker than expected * Brent crude crashes below 200-day moving average * U.S. crude off 4 pct, Brent off 3 pct * Brent posts biggest 3-day loss since August NEW YORK (Reuters) - Oil plunged more than 3 percent on Friday, sending U.S. crude below $100 a barrel for the first time since February as an abrupt slow-down in U.S. hiring soured economic sentiment, while technical triggers intensified selling. ... More »Oil dives $4, set for biggest 3-day rout since August

  • Hundreds Of Brits To Scoop Ice-Cream Jobs

    Sky News - Fri, May 4, 2012

    Baskin-Robbins, the world's largest ice-cream parlour chain, has announced plans to almost double the number of UK stores over the next three years, creating hundreds of jobs. More »Hundreds Of Brits To Scoop Ice-Cream Jobs

  • European shares fall sharply as US outlook worsens

    Reuters - Fri, May 4, 2012

    LONDON (Reuters) - European shares fell sharply on Friday after worse-than-expected jobs data from the United States dealt a fresh blow to recovery expectations for the world's largest economy. The pan-European FTSEurofirst 300 index provisionally closed down 17.32 points, or 1.7 percent, to 1,027.07 points and the Euro STOXX 50 index fell 37.83 points, also 1.7 percent, to 2,249.27 . Equities extended losses in the afternoon, when data showed U.S. ... More »European shares fall sharply as US outlook worsens

  • Bank of England to confront growth vs inflation dilemma

    Reuters - Fri, May 4, 2012

    LONDON (Reuters) - The Bank of England looks set to call time on its asset-buying programme next week, judging that it cannot afford to ignore Britain's sticky, above-target inflation even though official data shows the country is back in recession. The decision to end so-called quantitative easing, or QE, is unlikely to be welcomed by Britain's Conservative-led coalition, which was battered in local elections on Thursday, and has relied on loose monetary policy to soften the pain from of austerity aimed at reducing Britain's massive public borrowing. ... More »Bank of England to confront growth vs inflation dilemma

  • Crisis turns to tragedy for Italy's 'white widows'

    Reuters - Fri, May 4, 2012

    BOLOGNA, Italy (Reuters) - Grieving widows of struggling Italian businessmen who killed themselves in the face of a deep recession took to the streets of Bologna on Friday, offering a poignant reminder of the pain that austerity can cause. Waving white flags and joined by dozens of supporters, the small group of women - dubbed "white widows" by Italian media - marched from the city's hospital where craftsman Giuseppe Campaniello, 58, died late in March after he torched himself in his car in front of the local tax court. ... More »Crisis turns to tragedy for Italy's 'white widows'

  • Bank of England to confront growth vs inflation dilemma

    Reuters - Fri, May 4, 2012

    LONDON (Reuters) - The Bank of England looks set to call time on its asset-buying programme next week, judging that it cannot afford to ignore Britain's sticky, above-target inflation even though official data shows the country is back in recession. The decision to end so-called quantitative easing, or QE, is unlikely to be welcomed by Britain's Conservative-led coalition, which was battered in local elections on Thursday, and has relied on loose monetary policy to soften the pain from of austerity aimed at reducing Britain's massive public borrowing. ... More »Bank of England to confront growth vs inflation dilemma

  • Hollande eyes quick consensus with Merkel on growth

    Reuters - Fri, May 4, 2012

    PARIS (Reuters) - French Socialist Francois Hollande will seek to lay the foundations of a new Franco-German consensus on growth and ease fears of a breakdown in relations on his first trip to Berlin if elected president, a close adviser said on Friday. Two days before the French vote to elect a new president, Hollande's lead over conservative rival President Nicolas Sarkozy has narrowed in some opinion polls but he remains the clear favourite to take power in the final runoff. ... More »Hollande eyes quick consensus with Merkel on growth

  • Aer Lingus plays safe with maiden dividend

    Reuters - Fri, May 4, 2012

    DUBLIN (Reuters) - Irish airline Aer Lingus offered its first dividend in more than five years as a public company Friday following a return to profit, disappointing some shareholders who had hoped for a bigger payout. Aer Lingus, which has not made any form of distribution to shareholders since its stock market listing in 2006, said on Friday it intends to declare an ordinary dividend of 3 cents per share, to be paid in July. This will make a total payout of approximately 15.9 million euros ($21 million) this year. ... More »Aer Lingus plays safe with maiden dividend

  • Sterling recovers vs dollar after mixed U.S. jobs data

    Reuters - Fri, May 4, 2012

    LONDON (Reuters) - Sterling recouped losses from weaker-than-expected U.S. jobs data to trade steady against the dollar on Friday, and looked likely to stay supported in the near term while questions remained over the resilience of the U.S. economic recovery. Non-farm payrolls data for April showed 115,000 jobs were added, below forecasts of 170,000. A fall in the unemployment rate to 8.1 percent was attributed to a large number of Americans leaving the workforce. The pound briefly dropped against the safe-haven dollar to a session low of $1. ... More »Sterling recovers vs dollar after mixed U.S. jobs data

  • Russia's Pravda hits 100, still urging workers to unite

    Reuters - Fri, May 4, 2012

    MOSCOW (Reuters) - One hundred years after its first edition appeared, the once mighty Pravda newspaper has gone back to its origins as a struggling opposition newspaper, but is still defiantly urging the workers of the world to unite. The paper that for decades was the mouthpiece of the ruling Soviet Communist Party, churning out propaganda that made a mockery of its title meaning "Truth," suffered a humiliating fall from grace as the Soviet Union collapsed in 1991. ... More »Russia's Pravda hits 100, still urging workers to unite

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