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| Wall St. gains after Citigroup; S&P 500 up for eighth day Monday, Jul 15, 2013 11:59 AM PDT  By Caroline Valetkevitch NEW YORK (Reuters) - Stocks edged up on Monday, putting the S&P 500 on track for an eighth day of gains, as upbeat results from Citigroup offset mixed U.S. economic data. Shares of Citigroup shot up 1.9 percent to $51.80 after the third-largest U.S. bank by assets reported a 26 percent increase in adjusted quarterly profit. The S&P 500 financial industry sector index was up 0.4 percent. Leap Wireless International Inc shares more than doubled after AT&T Inc said on Friday it would buy the company for $1. ... Full Story | Top |
| Scientists find how 'obesity gene' makes people fat Monday, Jul 15, 2013 11:49 AM PDT  By Ben Hirschler LONDON (Reuters) - Scientists have unraveled how a gene long associated with obesity makes people fat by triggering increased hunger, opening up potential new ways to fight a growing global health problem. A common variation in the FTO gene affects one in six of the population, making them 70 percent more likely to become obese - but until now experts did not know why. ... Full Story | Top |
| Analysis: Fracking water's dirty little secret - recycling Monday, Jul 15, 2013 09:51 AM PDT  By Nichola Groom LOS ANGELES (Reuters) - The oil and gas industry is finding that less is more in the push to recycle water used in hydraulic fracturing. Slightly dirty water, it seems, does just as good a job as crystal clear when it comes to making an oil or gas well work. Exploration and production companies are under pressure to reduce the amount of freshwater used in dry areas like Texas and to cut the high costs of hauling millions of barrels of water to oil and gas wells and later to underground disposal wells. ... Full Story | Top |
| Abbott to buy cataract laser, leg stent businesses Monday, Jul 15, 2013 09:43 AM PDT By Ransdell Pierson (Reuters) - Abbott Inc said on Monday that it would enter the laser cataract surgery business by buying privately held OptiMedica Corp for up to $400 million and in a separate deal would pay $310 million for stent maker Idev Technologies. The deals follow Abbott's spinout earlier this year of its branded prescription business into a separate company, AbbVie Inc. Abbott now focuses on medical devices, nutritional products and generic medicines. ... Full Story | Top |
| South Africa's Exxaro and GDF SUEZ plan 600 MW coal-fired power plant Monday, Jul 15, 2013 08:23 AM PDT  JOHANNESBURG (Reuters) - South Africa's Exxaro Resources and France's GDF SUEZ said on Monday they are planning to develop a 600 megawatt coal-fired plant. The power station will be in the Waterberg region of northern Limpopo province and receive coal from a prospective new opencast mine that will produce up to 3.8 million tonnes a year. The power plant could expand to 1,200 MW, they said. Full Story | Top |
| Britain not reliant on gas from storage - energy minister Monday, Jul 15, 2013 07:17 AM PDT  LONDON (Reuters) - Britain's natural gas supply mix of domestic production and diverse import sources means it is far from reliant on storage sites, Secretary of State for Energy and Climate Change Ed Davey said on Monday. Pressure mounted on the government earlier this year to increase gas storage capacity after high winter energy demand depleted storage levels and exposed the country's growing reliance on imports. "Few countries have the amount of gas (we have) from domestic production and via pipelines from countries with secure supply like Norway. ... Full Story | Top |
| Libya's Zueitina port resumes work, oilfields still down Monday, Jul 15, 2013 05:59 AM PDT TRIPOLI (Reuters) - Operations at Libya's Zueitina port have resumed but so far only oil stored at the terminal is being exported as oilfields remain shut down by striking workers, an engineer said on Monday. Workers at Zueitina Oil Company last month halted operations at several oilfields such 103 A and 103 D as well as the eastern port, demanding a change in management relating to a dispute over work conditions and salaries. As well as cutting OPEC member Libya's oil output, their protest is causing shortages of gas supply to power stations. ... Full Story | Top |
| Exalenz launches new breath test to detect H. pylori bacteria Monday, Jul 15, 2013 05:18 AM PDT TEL AVIV (Reuters) - Exalenz Bioscience, a developer of diagnostic systems that use a patient's breath to detect gastrointestinal and liver conditions, launched BreathID Hp, a next generation device in the company's BreathID product line. U.S.-Israeli Exalenz said on Monday BreathID Hp offers a specific, non-invasive test for H. pylori. According to the Centers for Disease Control, approximately two thirds of the world's population is infected with H. pylori, which is often undiagnosed and untreated. It is the leading cause of peptic ulcers and is known to increase the risk of gastric cancer. ... Full Story | Top |
| Egypt puts police general in charge of supply ministry Monday, Jul 15, 2013 05:00 AM PDT CAIRO (Reuters) - A general in the police force was on Monday put in charge of Egypt's supply ministry, which manages its system of distributing state subsidized food and fuel. Mohamed Abu Shadi, who announced he had accepted the post, was formerly the senior interior ministry official responsible for investigating supply crimes. Egypt is the world's biggest importer of wheat and also buys diesel to distribute to the population at subsidized prices. Abu Shadi told reporters there were no crises in Egypt's strategic supplies. He did not elaborate. ... Full Story | Top |
| AstraZeneca finance chief Lowth to quit for BG Group Monday, Jul 15, 2013 03:37 AM PDT LONDON (Reuters) - Simon Lowth is to quit as chief financial officer at AstraZeneca and return to his energy roots in the same role at BG Group after being passed over for the top job at the drugmaker. Lowth, who will be 52 in August, is leaving one company faced with a turbulent financial future for another. BG's challenge is to recover from last year's announcement that it would miss output targets and the abandonment in February of longer-term production goals. ... Full Story | Top |
| Greenpeace activists break into French nuclear plant Monday, Jul 15, 2013 03:34 AM PDT  PARIS (Reuters) - Around 30 Greenpeace activists climbed fences to break into an EDF nuclear power plant in southern France at dawn on Monday, saying they wanted to expose security flaws and demand its closure. The activists, dressed in red, said they reached the walls of two reactors at the Tricastin plant, one of France's oldest. EDF denied they had got into any "sensitive areas" and said production was not affected. Interior Minister Manuel Valls called for an investigation into the intrusion which raised questions about the security of France's 19 nuclear plants and 58 reactors. ... Full Story | Top |
| Vivus says victim of false statements, delays shareholder meet Monday, Jul 15, 2013 03:24 AM PDT (Reuters) - U.S. drugmaker Vivus Inc, locked in a proxy battle with top investor First Manhattan Co, said FMC's advisers had made false statements to its shareholders and that it would delay its annual meeting by three days to allow FMC to make corrections. Vivus said on Sunday that the statements related the recommendation provided by proxy advisory firm Institutional Shareholder Services (ISS) but did not provide details. ISS backed three of the nine nominees put forward by FMC but said the wholesale changes that FMC demanded at the company were not required. Vivus said it had asked the U.S. ... Full Story | Top |
| Brent holds near $109 as China growth meets forecast Sunday, Jul 14, 2013 11:28 PM PDT  By Manash Goswami SINGAPORE (Reuters) - Brent crude futures hovered near $109 a barrel on Monday as worries about demand growth ebbed after data from China showed the world's second-biggest economy expanded in line with expectations. China's GDP grew 7.5 percent in April-June, and while that marked a slow down in nine of the last 10 quarters, it was a relief for some investors who were primed for a lower number. Industrial output was slightly less than forecast, but crude runs in the country's refineries and implied oil demand both rose in June, supporting oil markets further. ... Full Story | Top |
| Malawi rules out interim deal over lake dispute with Tanzania Sunday, Jul 14, 2013 10:20 PM PDT  LILONGWE (Reuters) - Malawi will not accept any interim deal on a disputed boundary on Lake Malawi with neighbouring Tanzania until the wrangle over sovereignty is settled, President Joyce Banda told mediators on Sunday. Malawi, which sits to the west of Africa's third-largest lake, claims the entire northern half of the lake while Tanzania, to the east, says it owns half of the northern area. The southern half is shared between Malawi and Mozambique. ... Full Story | Top |
| Kenya raises price of petrol, diesel at the pump Sunday, Jul 14, 2013 10:10 PM PDT  NAIROBI (Reuters) - Kenya's energy regulator raised retail fuel prices for petrol and diesel on Sunday due to rising global oil prices and a weaker local currency, while decreasing the price of kerosene. Fuel prices have a big impact on the rate of inflation in the east African economy. The rate rose to 4.91 percent in June from 4.05 percent a month earlier. The economy heavily depends on diesel for transport, power generation and agriculture. Kerosene is used in many households for lighting and cooking. ... Full Story | Top |
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