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| Exxon cleans up Arkansas oil spill; Keystone plan assailed Sunday, Mar 31, 2013 12:43 PM PDT  (Reuters) - Exxon Mobil on Sunday continued cleanup of a pipeline spill that spewed thousands of barrels of heavy Canadian crude in Arkansas as opponents of oil sands development latched on to the incident to attack plans to build the Keystone XL line. Exxon spokesman Alan Jeffers said on Sunday that crews had yet to excavate the area around the pipeline breach, a needed step before the company can estimate how long repairs will take and when the line might restart. "I can't speculate on when it will happen," Jeffers said. ... Full Story | Top |
| Analysis: Insider case against SAC manager may be tough to prove Sunday, Mar 31, 2013 12:30 PM PDT  By Emily Flitter NEW YORK (Reuters) - To win a guilty verdict against one of hedge fund titan Steven A Cohen's most senior portfolio managers, U.S. prosecutors face a tough task: convincing a jury that a man who already admitted to breaking the law is telling the truth on the witness stand. On Friday, U.S. authorities arrested and charged Michael Steinberg, a 16-year veteran of Cohen's $15 billion SAC Capital Advisors, with insider trading in shares of the technology stocks Dell and Nvidia . ... Full Story | Top |
| CA-BUSINESS Summary Sunday, Mar 31, 2013 12:27 PM PDT Record Wall Street boosts sentiment, U.S. holds key in Q2 TOKYO (Reuters) - Whether the world's largest economy can sustain momentum will be a primary focus for investors for the next three months after a general recovery trend in the United States helped risk sentiment for broad markets in the first quarter of 2013. Asian shares edged higher and the euro steadied on Friday after banks in Cyprus reopened to relative calm. Overall trade was subdued, with many Asian markets, including Australia, Singapore and Hong Kong, closed on Friday for Easter holidays. ... Full Story | Top |
| Japan just might be set to open a new chapter Sunday, Mar 31, 2013 12:02 PM PDT  By Alan Wheatley, Global Economics Correspondent LONDON (Reuters) - 'Historic' is an overused word. But if the Bank of Japan meets expectations and embarks this week on a radical policy shift to crush deflation, the meeting will go down as, well, historic. Because of gently falling prices, Japan has not grown in nominal terms for two decades, reducing its relevance for the global economy. But all that could change if the BOJ's new governor, Haruhiko Kuroda, shows he is indeed serious about hitting the central bank's new inflation target of 2 percent. ... Full Story | Top |
| Exxon has yet to excavate area of ruptured Arkansas oil pipeline Sunday, Mar 31, 2013 11:57 AM PDT HOUSTON (Reuters) - Exxon Mobil Corp said on Sunday that crews at the scene of its crude oil pipeline spill in Arkansas had yet to excavate the area of the breach to determine the cause. "I can't speculate on when that will happen," Exxon spokesman Alan Jeffers said. "Excavation is necessary as part of an investigation to determine the cause of the incident." Exxon also had no estimate on how long repairs would take or when the oil pipeline would restart. Exxon shut the line, which carries heavy Canadian crude oil from Illinois to Texas, on Friday when the leak was discovered. ... Full Story | Top |
| Egypt M2 money supply rises 15 pct in year to end-February Sunday, Mar 31, 2013 06:42 AM PDT  CAIRO (Reuters) - Egypt's M2 money supply rose by 15.4 percent in the year to the end of February, the central bank said on Sunday. Money supply rose to 1,211.3 billion Egyptian pounds from 1,198.1 billion pounds at the end of January and 1,050.1 billion pounds at the end of February, 2012. Full Story | Top |
| IMF team to arrive in Egypt on Wednesday for loan talks Sunday, Mar 31, 2013 06:41 AM PDT  By Ulf Laessing CAIRO (Reuters) - An IMF delegation will arrive in Egypt on Wednesday for talks with the government on a $4.8 billion loan, a government spokesman said on Sunday, as Cairo seeks to conclude a deal vital to easing a deep economic crisis. Spokesman Alaa El Hadidi added that Egypt would not seek any emergency loan from the International Monetary Fund and faced no "crisis" in funding the import of essential commodities. The most populous Arab country has been seeking a loan from the Fund to ease economic strains after two years of political upheaval. ... Full Story | Top |
| ECB's Draghi phoned Napolitano over resignation reports: press Sunday, Mar 31, 2013 03:49 AM PDT  ROME (Reuters) - European Central Bank President Mario Draghi phoned Italian President Giorgio Napolitano after media reports that the 87-year-old head of state was planning to resign early to clear the way for new elections, newspapers reported on Sunday. Napolitano pledged on Saturday that he would stay in office until the end of his term on May 15 following reports that he planned to step down to break the deadlock created by last month's election, which left no party able to form a government. ... Full Story | Top |
| EU, IMF resisting Greek bank NBG's takeover of Eurobank: sources Saturday, Mar 30, 2013 02:49 PM PDT  By George Georgiopoulos ATHENS (Reuters) - Greece's international lenders have asked Athens to halt National Bank's takeover of rival Eurobank, worried that the resulting lender would be too big for the state to deal with, two bankers close to the talks told Reuters on Saturday. The lenders' concerns come as an unexpected twist in the takeover deal, which was launched in October and completed with a share swap. The two banks have already begun integrating operations after getting approval by authorities. National Bank, Greece's biggest lender, took over 84. ... Full Story | Top |
| Argentina puts forward alternative payment plan in bond dispute Saturday, Mar 30, 2013 01:40 PM PDT  By Nate Raymond NEW YORK (Reuters) - Argentina is pitching an alternative payment formula to a U.S. appeals court that would allow it to resolve litigation with creditors holding defaulted bonds for which they are demanding to be paid $1.33 billion. In a filing late on Friday with the 2nd U.S. Circuit Court of Appeals in New York, Argentina proposed to pay creditors who did not participate in two restructurings through a choice of bonds equal to the debt's value at the time of the country's 2002 default, or through discount bonds. ... Full Story | Top |
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