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| Dow, S&P 500 slip as second quarter nears close Friday, Jun 28, 2013 12:19 PM PDT  By Alison Griswold NEW YORK (Reuters) - The Dow and the S&P 500 slipped on Friday as the end of the second quarter approached, with investors finding little reason to push shares higher after a three-day rally. With less than an hour left in the session, only the Nasdaq was in positive territory. Stocks opened lower on weakness in technology shares, then fluctuated between steep losses and moderate gains for much of the session before flattening out. Losses in financials and tech weighed on the market, but were partially offset by strength in utilities and consumer discretionary shares. ... Full Story | Top |
| Rio Tinto wins end to human rights abuse lawsuit in U.S. Friday, Jun 28, 2013 11:51 AM PDT  By Jonathan Stempel (Reuters) - Benefiting from a recent U.S. Supreme Court decision, Rio Tinto Plc has won the dismissal of a nearly 13-year-old U.S. lawsuit accusing the Anglo-Australian mining company of complicity in human rights abuses on the South Pacific island of Bougainville. Friday's ruling by a majority of an 11-judge panel of the 9th U.S. Circuit Court of Appeals ends litigation begun in 2000. ... Full Story | Top |
| Professor who found oldest U.S. cave art says there's more Friday, Jun 28, 2013 10:27 AM PDT  By Tim Ghianni NASHVILLE, Tennessee (Reuters) - Jan Simek, leader of the team that discovered the oldest known cave art in the United States, says he is far from finished. The 60-year-old science professor at the University of Tennessee still plans to belly crawl through caves or climb atop bluffs in the hope of finding more art in his cave-rich state. ... Full Story | Top |
| Sticker-shock derails opportunistic U.S. loan deals, for now Friday, Jun 28, 2013 09:45 AM PDT By Lynn Adler and Leela Parker (Reuters) - Market turbulence has prompted U.S. companies to shelve more than $14 billion in loans meant to slice borrowing costs or fund shareholder dividends, confining most issuance to borrowers with imminent financing needs. At least 15 of these opportunistic deals have been pulled since late-May, with more withdrawals likely, while issuers that have opted to forge ahead with their deals have been forced to sweeten terms to lure investors. ... Full Story | Top |
| OPEC pumps less oil in June on Africa setbacks: Reuters survey Friday, Jun 28, 2013 09:15 AM PDT  By Alex Lawler LONDON (Reuters) - OPEC crude output has fallen in June due to disruptions in Libya and Nigeria, a Reuters survey found on Friday, inadvertently bringing supply closer to the organization's target. Supply from the Organization of the Petroleum Exporting Countries has averaged 30.38 million barrels per day (bpd), down from a revised 30.46 million bpd in May, the survey of shipping data and sources at oil firms, OPEC and consultants found. ... Full Story | Top |
| Accenture cuts full-year outlook as consulting slows further Friday, Jun 28, 2013 08:41 AM PDT  By Sruthi Ramakrishnan (Reuters) - Outsourcing and consulting services provider Accenture Plc cut its full-year outlook, citing a pullback in spending by its consulting business clients, after reporting third-quarter revenue below analysts' estimates. Shares of Accenture, whose clients include London's Heathrow Airport, Nokia Oyj, Baker Hughes Inc and AstraZeneca UK, were down 7 percent at $74.60 in extended trading on Thursday. Clients were slowing the pace and level of spending on existing contracts, said Accenture, whose rivals include Cognizant Technology Solutions Corp and Infosys Ltd. ... Full Story | Top |
| Regulators pave way for biosimilar drug breakthrough Friday, Jun 28, 2013 08:35 AM PDT LONDON/ZURICH (Reuters) - European regulators have cleared the way for the first serious threat to the makers of multibillion-dollar biotechnology drugs to treat diseases such as cancer and rheumatoid arthritis. The European Medicines Agency (EMA) said on Friday that its experts had backed approval of two copycat versions of Johnson & Johnson and Merck & Co's blockbuster rheumatoid arthritis drug Remicade - the first time a green light has been given for such antibody-based medicines. ... Full Story | Top |
| Regulators pave way for dissimilar drug breakthrough Friday, Jun 28, 2013 08:34 AM PDT LONDON/ZURICH (Reuters) - European regulators have cleared the way for the first serious threat to the makers of multibillion-dollar biotechnology drugs to treat diseases such as cancer and rheumatoid arthritis. The European Medicines Agency (EMA) said on Friday that its experts had backed approval of two copycat versions of Johnson & Johnson and Merck & Co's blockbuster rheumatoid arthritis drug Remicade - the first time a green light has been given for such antibody-based medicines. ... Full Story | Top |
| Monsanto unapproved GMO wheat stored in Colorado through '11 Friday, Jun 28, 2013 08:17 AM PDT By Carey Gillam (Reuters) - Monsanto Co's unapproved, experimental genetically engineered wheat, which is feared to have potentially contaminated U.S. wheat supplies after it was found growing in an Oregon field this spring, was kept in a U.S. government storage facility until at least late 2011, according to documents obtained by Reuters. The revelation that the seed for the controversial genetically engineered wheat was kept viable in a Colorado storage facility as recently as a year and a half ago comes as the U.S. ... Full Story | Top |
| Russia criticizes groups setting conditions for Syria talks Friday, Jun 28, 2013 07:01 AM PDT  MOSCOW (Reuters) - Russia is committed to arranging a peace conference on the Syria conflict but other countries and groups are complicating matters by trying to set preconditions, Foreign Minister Sergei Lavrov said on Friday. Lavrov, who will meet U.S. Secretary of State John Kerry next week to discuss the planned conference, also said shipments of weapons to rebels fighting Syrian President Bashar al-Assad "contradict the concept of the conference". Russia, which has backed Assad by sending Damascus arms and protecting him from U.N. ... Full Story | Top |
| Insight: From remote Mauritania, hacker fights for Islam worldwide Friday, Jun 28, 2013 06:46 AM PDT  By Elise Knutsen DAKAR (Reuters) - In Nouakchott, a dusty city wedged between the Atlantic ocean and western dunes of the Sahara, a young hip-hop fan coordinates a diverse group of hackers targeting websites worldwide in the name of Islam. Logging on to his computer, he greets his Facebook followers with a "good morning all" in English before posting links to 746 websites they have hacked in the last 48 hours along with his digital calling card: a half-skull, half-cyborg Guy Fawkes mask. ... Full Story | Top |
| Gazprom says RWE court decision won't bring additional pressure Friday, Jun 28, 2013 06:28 AM PDT MOSCOW (Reuters) - Gazprom will not face additional pricing pressure from clients in Europe after an arbitration court decision forcing Gazprom to charge a key European customer, RWE , market prices for the gas it sells, the Russian company's CEO said on Friday. European clients have lost billions of dollars in recent years due to a gap between Gazprom's prices, which are largely linked to costlier oil, and the spot markets for gas which guide the prices they can charge their own customers. ... Full Story | Top |
| Obama's environmental nominee in jeopardy from Senate Republicans Friday, Jun 28, 2013 06:20 AM PDT  By Valerie Volcovici WASHINGTON (Reuters) - President Barack Obama made a plea this week for the U.S. Senate to confirm his choice to head the agency that will oversee the core of his new climate change plan, but nominee Gina McCarthy's prospects seem increasingly in doubt. McCarthy was nominated by Obama in March to lead the U.S. Environmental Protection Agency where she is currently the top air quality official. She has yet to receive a vote in the full U.S. Senate after narrowly being approved by the Senate Committee for the Environment and Public Works on a party-line vote. ... Full Story | Top |
| Argentine approach on YPF settlement sets floor for deal Friday, Jun 28, 2013 06:20 AM PDT  By Tracy Rucinski and Hilary Burke MADRID/BUENOS AIRES (Reuters) - Argentina's $5 billion informal compensation offer for seizing Repsol's stake in energy firm YPF sets a floor for talks but the cash-strapped country may struggle to come up with a better offer. Spanish oil major Repsol rejected on Wednesday an unofficial non-cash settlement for its 51 percent of YPF, expropriated by Argentina in 2012, but welcomed the government's willingness to start negotiations on a solution. The offer was far below the $10. ... Full Story | Top |
| Sanofi's MS drugs get double boost in Europe Friday, Jun 28, 2013 06:05 AM PDT LONDON (Reuters) - Sanofi's hopes in the multiple sclerosis market received a double boost on Friday as the European regulator backed an injectable treatment and adopted a more positive stance toward a pill for the neurodegenerative disease. The European Medicines Agency said it was recommending Lemtrada, Sanofi's biggest MS drug hope, for relapsing-remitting MS, ending a quarter-century development saga for the injectable treatment. ... Full Story | Top |
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