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| Onyx Pharma rejects buyout offer from Amgen Sunday, Jun 30, 2013 12:29 PM PDT By Ryan Vlastelica NEW YORK (Reuters) - Onyx Pharmaceuticals Inc on Sunday confirmed it had rejected an offer from Amgen Inc to buy the company for $120 a share in cash. The company said that the offer price "significantly undervalued" its prospects, though it was "actively exploring" the potential to combine with another company. Shares of Onyx closed Friday at $86.82; the offer price represents a premium of about 38 percent from that level. The Financial Post reported the offer on Friday, sparking a steep jump in Onyx shares in after-hours trading. Onyx has a market cap of $6. ... Full Story | Top |
| Gunmen free 175 prisoners in Nigeria jailbreak Sunday, Jun 30, 2013 11:23 AM PDT ONITSHA, Nigeria (Reuters) - Gunmen shot dead two civilians and then used explosives to free 175 inmates from a prison in Nigeria's southern town of Akure overnight, a prison official said on Sunday. Islamist sect Boko Haram and al Qaeda-linked group Ansaru have been behind several prison raids in recent years. It was not clear whether they were behind this jail break at Olokuta prison in Ondo state or whether they had members held there. ... Full Story | Top |
| U.S. says oil market can cope with more Iran export cuts Sunday, Jun 30, 2013 10:04 AM PDT  By Fredrik Dahl VIENNA (Reuters) - The top U.S. energy official said he believed the oil market could cope with any further reduction of Iran's oil exports from the tightening of sanctions on Tehran over its nuclear program. U.S. Energy Secretary Ernest Moniz also said on Sunday he expected a "fair amount of action" by his department in 2013 in evaluating applications by U.S. firms to export natural gas. Companies hoping to ship gas abroad have been frustrated by lengthy delays and rule changes as they await Department of Energy approval of their applications. ... Full Story | Top |
| Analysis - Big lenders wary of following oil money to North Dakota Sunday, Jun 30, 2013 08:49 AM PDT  By Ernest Scheyder and Ilaina Jonas WILLISTON, N.D./NEW YORK (Reuters) - Money and workers are pouring into Williston, the capital of North Dakota's oil boom, but the only department store in town is a JCPenney, with a facade straight out of the 1950s. "We desperately need some kind of shopping center or mall here in Williston," said Rev. Jay Reinke, a 20-year resident and pastor of Concordia Lutheran Church. "You have to drive hours to find decent shopping." That drive is not getting shorter anytime soon. ... Full Story | Top |
| U.S. Energy Department pledges action in handling gas export applications Sunday, Jun 30, 2013 08:39 AM PDT  VIENNA (Reuters) - Energy Secretary Ernest Moniz said on Sunday he expected to have a "fair amount of action" during 2013 in evaluating applications by companies to export natural gas from the United States. "I'm planning to go through them as rapidly as I can ... I certainly expect to have a fair amount of action this year," Moniz, who took office last month, said in an interview in the Austrian capital. U.S. companies hoping to export natural gas are frustrated by lengthy delays and rule changes as they await Department of Energy approval of their applications. But some U.S. ... Full Story | Top |
| Cousteau grandson pays tribute by trying to beat undersea record Sunday, Jun 30, 2013 07:37 AM PDT  By Jane Sutton MIAMI (Reuters) - Third-generation oceanographer Fabien Cousteau will attempt to spend a record 31 days living and working underwater in a bus-sized laboratory submerged in the warm, turquoise Atlantic off the Florida Keys. If he succeeds he will beat the 30-day underwater living record set 50 years ago in the Red Sea by his scuba-pioneering grandfather, Jacques-Yves Cousteau. "We're doing something unprecedented," said the 45-year-old who grew up on the decks of his grandfather's ships, Calypso and Alcyone. "It's the risk of discovery, it's the curiosity, it's the adventure. ... Full Story | Top |
| Kazakhstan trade trip poses human rights test for UK's Cameron Sunday, Jun 30, 2013 07:02 AM PDT  By Andrew Osborn ATYRAU, Kazakhstan (Reuters) - British Prime Minister David Cameron flew into Kazakhstan on Sunday to help inaugurate the world's costliest oil project and seal new business deals, but faced immediate pressure to denounce the country's poor human rights record. Cameron's visit, the first by a serving British prime minister, is seen by the Central Asian government as a coup it hopes will cement its status as a rising economic power and confer a degree of legitimacy from the West it has long sought. ... Full Story | Top |
| Release of Eliquis blood clot preventer story Sunday, Jun 30, 2013 06:58 AM PDT  By Bill Berkrot (Reuters) The blood clot preventer Eliquis, sold by Pfizer Inc and Bristol-Myers Squibb Co, proved as effective as widely used warfarin in treating a dangerous condition known as venous thromboembolism and caused far less bleeding, according to data from a large clinical trial. The Pfizer and Bristol-Myers pill met the main goal of the study by showing it worked just as well as conventional treatment with warfarin, a generic blood thinner, in reducing recurrence of the condition and related deaths. ... Full Story | Top |
| Western United States swelters amid dangerously high heat Sunday, Jun 30, 2013 06:36 AM PDT  (Reuters) - Scorching heat baked the western United States and Sunday's forecast offered no relief from the soaring temperatures that prompted health warnings and sent scores of people to the hospital with heat-related illness. Cities in California, Nevada, Arizona, Idaho, Colorado, Utah and Texas all recorded temperatures over 100 degrees (38 Celsius) on Saturday. Paramedics in Las Vegas, where the temperature hit 115 F (46 C), found an elderly man dead in his un-air-conditioned apartment on Saturday. ... Full Story | Top |
| Bumi considers selling Bakries' stake in market for cash: report Sunday, Jun 30, 2013 06:09 AM PDT  LONDON (Reuters) - Indonesia-focused coal miner Bumi Plc is considering selling the 23.8 percent stake held by Indonesia's Bakrie family in the market for cash, instead of a previous plan to cancel the shares, a report on Sunday said. The proposal would allow Bumi to return cash to shareholders well in excess of the nearly $300 million already expected to be handed back, the Sunday Telegraph said, without citing its sources. ... Full Story | Top |
| Dana Gas says makes new gas discovery in Egypt Sunday, Jun 30, 2013 06:04 AM PDT DUBAI (Reuters) - Dana Gas has discovered more gas in Egypt's Nile Delta, with 9.4 million cubic feet per day produced during initial tests, the United Arab Emirates-based company said on Sunday. The Begonia-1 discovery well also produced 133 barrels of condensate, a light oil, in the test drilling in a sandstone reservoir of the Lower Abu Madi Formation. Total evaluated resources for the Lower Abu Madi zone are between 7 and 15 billion cubic feet, along with around 100,000 barrels of condensate, Dana Gas said in a statement. ... Full Story | Top |
| Petrocaribe leaders agree to focus efforts on boosting trade Saturday, Jun 29, 2013 10:11 PM PDT  By Ivan Castro MANAGUA (Reuters) - Delegations from over a dozen countries that are members of the Venezuelan-led oil alliance Petrocaribe agreed on Saturday to adopt a framework for promoting trade within the block. At the close of the eighth-annual Petrocaribe summit hosted by Nicaraguan President Daniel Ortega in this Central American capital, leaders agreed to focus efforts on boosting trade in regional transportation, communication, agriculture, tourism and social service projects. "The journey has been very encouraging because in short order ... ... Full Story | Top |
| Obama to unveil broad African electrical power initiative Saturday, Jun 29, 2013 09:31 PM PDT  By Mark Felsenthal JOHANNESBURG (Reuters) - Pointing to Africa's crippling lack of electrical power, President Barack Obama is due to announce on Sunday a $7 billion initiative over five years to double access to power in sub-Saharan Africa. "We see this as the next phase in our development strategy and a real focal point in the president's agenda going forward," deputy national security adviser Ben Rhodes told reporters traveling with the president. Obama is midway through a three-country tour of Africa and is due to give what aides bill as his fullest description of his vision for the U.S. ... Full Story | Top |
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