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| Runaway freight train explodes, levels center of Canada town Saturday, Jul 06, 2013 12:21 PM PDT  By Mathieu Belanger LAC-MEGANTIC, Quebec (Reuters) - A driverless freight train carrying tankers of crude oil derailed at high speed and exploded into a giant fireball in the middle of a small Canadian town early on Saturday, destroying dozens of buildings and leaving an unknown number of people feared missing. The disaster occurred shortly after 1 a.m. (0500 GMT) when the runaway train with 73 cars sped into Lac-Megantic, a picturesque lakeside town of about 6,000 people near the border with Maine, and came off the rails. Witnesses said the town center was crowded at the time. ... Full Story | Top |
| Mohamed ElBaradei to be named Egypt's interim PM: sources Saturday, Jul 06, 2013 11:40 AM PDT  CAIRO (Reuters) - Mohamed ElBaradei, a former U.N. nuclear agency chief, will be named Egypt's interim prime minister later on Saturday, a presidential source told Reuters. Interim head of state Adli Mansour was installed on Thursday to oversee a military roadmap to elections, the day after the army overthrew Islamist President Mohamed Mursi. ElBaradei was among liberal leaders who opposed Mursi and called for the massive protests that showed how the Muslim Brotherhood had angered millions of Egyptians. ... Full Story | Top |
| Ecuador says China's CNPC joins $12 billion refinery project Saturday, Jul 06, 2013 11:34 AM PDT By Alexandra Valencia QUITO (Reuters) - China National Petroleum Corp (CNPC) has agreed to help finance the construction of a $12 billion refinery project in Ecuador, the South American country's government said on Saturday. Ecuador has been in talks with China's biggest oil producer for a year about funding the 300,000 barrel per day Pacifico project, which aims to start output in 2017 and is a joint venture between Ecuador and Venezuelan state oil company PDVSA. "We've worked to have a third partner ... ... Full Story | Top |
| Canadian train exploded after conductor parked it: railroad Saturday, Jul 06, 2013 10:23 AM PDT  (Reuters) - The train that derailed and exploded in Lac-Megantic, Canada, had been parked and the conductor was not aboard when "somehow, the train got released," Montreal, Maine and Atlantic Railway, Inc Vice President Joseph McGonigle said on Saturday. "We're not sure what happened, but the engineer did everything by the book. He had parked the train and was waiting for his relief," McGonigle said. Several people were missing after the 1 a.m. explosion of four tank cars of petroleum products destroyed dozens buildings in the center of the town, town officials said. (Reporting by P.J. ... Full Story | Top |
| Former Standard Chartered chief eyeing Lloyds stake buy: Sky Saturday, Jul 06, 2013 09:41 AM PDT  LONDON (Reuters) - Former Standard Chartered chief executive Mervyn Davies is forming a consortium of sovereign wealth funds and financial institutions to buy as much as half of Britain's 20 billion pound ($29.77 billion) stake in Lloyds Banking Group , Sky News reported. Davies approached Britain's Treasury several months ago about his plan to buy as much as half of the British taxpayer's 39 percent share in Lloyds, Sky said on Saturday citing insiders. U.S. ... Full Story | Top |
| Hurricane Erick forms in Pacific along Mexico's coast Saturday, Jul 06, 2013 09:20 AM PDT MEXICO CITY (Reuters) - Hurricane Erick formed on Saturday off Mexico's Pacific coast and it was expected to crawl along offshore, weaken and may bring tropical storm-force winds to the southern Baja peninsula by late Sunday. The U.S. National Hurricane Center said Erick was located about 90 miles south of Manzanillo, Mexico's top cargo shipping port, at 10 a.m. (11:00 a.m. EDT) and was packing maximum sustained winds of 80 miles per hour (130 km per hour). The storm was not expected to get much more powerful and it should begin to lose strength by Sunday, the hurricane center said. ... Full Story | Top |
| Mubarak trial drags on, impervious to Egypt upheaval Saturday, Jul 06, 2013 08:39 AM PDT  By Asma Alsharif CAIRO (Reuters) - The slow-motion retrial of former Egyptian autocrat Hosni Mubarak dragged on at snail's pace on Saturday, impervious to the latest upheaval in the country he ruled for 30 years - the military overthrow of his elected successor. The presiding judge adjourned the case on charges of conspiracy to murder hundreds of demonstrators in 2011 until August 17, after the Muslim fasting month of Ramadan, to allow the defense more time to review recently presented evidence. ... Full Story | Top |
| Tennis-Djokovic told to tone down his pimpled shoes Saturday, Jul 06, 2013 08:08 AM PDT By Belinda Goldsmith LONDON, July 6 (Reuters) - World number one Novak Djokovic has slipped up with his footwear at Wimbledon, being told to get rid of the pimples on the side of his shoes days before he faces Briton Andy Murray in the final on Sunday. Djokovic was the second of the top four male players to fall foul of footwear rules at Wimbledon after seven-times champion Roger Federer was told to change his orange-soled shoes. ... Full Story | Top |
| Renault-Nissan CEO sees 100,000 electric vehicles sold end-June Saturday, Jul 06, 2013 08:01 AM PDT  AIX-EN-PROVENCE, France (Reuters) - French carmaker Renault and its Japanese partner Nissan will have sold a total of 100,000 electric vehicles so far by the end of June, Carlos Ghosn, chief executive of both companies, said on Saturday. But Ghosn, speaking at a conference in the southern French city of Aix-en-Provence, also said he did not expect any strong recovery in the troubled European auto sector in the medium term. "I am preparing Renault to several years of market stability, at best," he said. ... Full Story | Top |
| Deutsche Bank CFO sees no capital transfer to U.S. unit: paper Saturday, Jul 06, 2013 07:10 AM PDT  BERLIN (Reuters) - Germany's Deutsche Bank will not need to transfer capital holdings to its U.S. subsidiary to meet the U.S.'s stricter regulatory requirements, Boersen-Zeitung reported on Saturday, citing an interview with finance chief Stefan Krause. "Because of the Americans' definition of capital, we can use supplementary capital to fulfill these requirements," CFO Krause was quoted as saying. "For that reason, a transfer of capital from Germany will not be necessary here." U.S. regulators are planning stricter rules on how much equity foreign lenders must hold. ... Full Story | Top |
| Canadian quotas sweeten profits for U.S. maple syrup farmers Saturday, Jul 06, 2013 06:07 AM PDT  By Jason McClure (Reuters) - For Vermont farmers Cecile and Tom Branon, the decade-long maple syrup boom allowed them to sell their 150 dairy cows and convert a team of working horses to pets while they focused on expanding their lucrative sugaring operation. Hundreds of nearby farmers in northern New England have experienced similar windfalls, with U.S. producers, aided by favorable weather, increasing this year's output by 70 percent, to 3.3 million gallons this year. ... Full Story | Top |
| Chile annual inflation speeds up in June to 1.9 percent Saturday, Jul 06, 2013 06:00 AM PDT  SANTIAGO (Reuters) - Chile's consumer price index rose 0.6 percent in June, the biggest increase in eight months and slightly above expectations as costs jumped for accommodation, electricity, fuel products and water, the government said on Saturday. Analysts in a Reuters poll had forecast a 0.5 percent rise in prices. Inflation in the 12 months through June was 1.9 percent, up sharply from 0.9 percent in May and approaching the central bank's target range of 2 percent to 4 percent. Core inflation was 0.3 percent in the month and 1.3 percent in the year, the national statistics agency said. ... Full Story | Top |
| Siemens, Swiss rail company Stadler mull joint venture: magazine Saturday, Jul 06, 2013 05:58 AM PDT  BERLIN (Reuters) - German engineering group Siemens and Swiss rail company Stadler are considering a joint venture to bundle all business projects in short and long-distance traffic, Wirtschaftswoche reported, without citing the source of the information. The chief executives of both companies have already had several discussions, the magazine reported on Saturday, adding that neither Siemens nor Stadler were willing to comment on possible cooperation. ... Full Story | Top |
| Week Ahead: For stocks, there's no need to fear good news Saturday, Jul 06, 2013 05:42 AM PDT  By Ryan Vlastelica NEW YORK (Reuters) - Wall Street doesn't hate good news after all. The June jobs figures were stronger than expected and caused a big selloff in the bond market. That further underscored expectations that the Federal Reserve will be chopping back its big bond-buying program sooner rather than later. This kind of occurrence in the past would have caused the stock market to freak out. But the three major U.S. stock indexes climbed 1 percent on Friday, possibly pointing the way to more gains ahead. The stock market has been in an odd spot for some time. ... Full Story | Top |
| ECB's Noyer says forward guidance in line with mandate Saturday, Jul 06, 2013 05:40 AM PDT  AIX-EN-PROVENCE, France (Reuters) - The European Central Bank's decision to break with precedent by declaring it would keep interest rates at record lows for an extended period is fully in line with its mandate, ECB policymaker Christian Noyer said on Saturday. "Forward guidance is fully anchored to our mandate and in line with the two pillars of our strategy," Noyer said, referring to the ECB's inflation mandate and, for the pillars of the strategy, to real economy and monetary developments. ... Full Story | Top |
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