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| UK abandons case against iSoft directors Monday, Jul 22, 2013 10:37 AM PDT By Sebastian Salek LONDON (Reuters) - FCA said on Monday it will not pursue a second retrial of four former directors of healthcare software company iSoft, dealing a blow in its financial crime-fighting credentials. A judge threw out the case against the four men early in July following errors in the handling of a key piece of evidence. Their first trial ended in a hung jury last August. Former iSoft chairman Patrick Cryne and ex-directors Stephen Graham, Timothy Whiston and John Whelan were accused of conspiring to bury bad news and hoodwink investors between 2003 and 2006. ... Full Story | Top |
| Technology vanquishes the peak-oilers, again Monday, Jul 22, 2013 10:08 AM PDT By John Kemp LONDON (Reuters) - The decision to shutter "The Oil Drum", the leading website devoted to peak oil, has come to symbolize the end of an era - and sparked a furious debate about whether the theory was all along based on a fundamental mistake. The site's authors and editors blamed the decision to archive it on the "scarcity of new content caused by a dwindling number of contributors," according to a statement on July 3. ... Full Story | Top |
| Protest halts Libyan port's oil exports for sixth day Monday, Jul 22, 2013 09:10 AM PDT  TRIPOLI (Reuters) - Protesters demanding jobs closed off the eastern Libyan port of Zueitina for a sixth day on Monday, extending a halt in oil exports, according to a senior oil industry source and to one of the demonstrators. Roughly a dozen men last Tuesday evening forced their way into the port, just hours after Zueitina Oil Company workers had temporarily suspended a strike and resumed production at oilfields that pump to the terminal. "The situation is still the same," a senior Libyan oil industry source said. "Exports are still down as of yesterday evening. ... Full Story | Top |
| U.S., UK watchdogs fine high-frequency trader $6 million Monday, Jul 22, 2013 09:02 AM PDT  By Huw Jones LONDON (Reuters) - Regulators in Britain and the United States fined U.S. trading firm Panther and owner Michael Coscia nearly $6 million (3.9 million pounds) for manipulating commodities markets, marking one of the first crack-downs on abuses in automated trading. Regulators are taking a tougher line on high-frequency (HFT) and other forms of automated trading blamed for exacerbating a so-called "flash crash" on Wall Street in May 2010, when blue chips went briefly into freefall. ... Full Story | Top |
| TSX hits seven-week high as sentiment for resources brightens Monday, Jul 22, 2013 08:25 AM PDT  By John Tilak TORONTO (Reuters) - Canada's main stock index rose to its highest level in seven weeks on Monday as higher commodity prices lifted sentiment on the natural resource-heavy market. The bullion price jumped more than 2 percent to a one-month high, helped by weakness in the U.S. dollar and by a lessening of concern that the U.S. Federal Reserve will quickly dial back its stimulus program. The Toronto index's gold-mining sector was up almost 5 percent. Brent crude also climbed, supporting shares of oil and gas producers. ... Full Story | Top |
| Busy global oilfields shield Halliburton from U.S. gas glut Monday, Jul 22, 2013 07:36 AM PDT  By Braden Reddall (Reuters) - Halliburton Co on Monday delivered a higher-than-expected quarterly profit as it found greater success outside its natural gas-engorged home market in the United States. The world's second-largest oilfield services company also said it boosted its share repurchase program by $4.3 billion after buying $1 billion worth of its shares in the second quarter and leaving only $700 million authorized from an existing program set up in 2006. ... Full Story | Top |
| Aluminium; parallel universe or the same one? Andy Home Monday, Jul 22, 2013 07:11 AM PDT By Andy Home LONDON (Reuters) - China's production of aluminium cranked up several gears last month to an annualized 22.42 million tonnes. It was the second-highest run-rate ever, eclipsed only by what may have been a holiday-distorted output figure in February. The world's largest producer churned out 10.54 million tonnes of the light metal in the first half of this year, according to figures from China's Nonferrous Metals Industry Association published by the International Aluminium Institute (IAI). ... Full Story | Top |
| Isis Pharma drug reduces blood fat by 64 pct in mid-stage study Monday, Jul 22, 2013 05:25 AM PDT (Reuters) - Isis Pharmaceuticals Inc said its experimental drug reduced the level of triglycerides, a type of fat in the blood that increases the risk of heart diseases, by up to 64 percent in a mid-stage trial. Shares of the company rose 2.4 percent to $31.80 in light trading before the bell. Isis said the drug, codenamed ISIS-APOCIIIRx, was being tested in patients with high to severely elevated triglyceride levels, who were taking another drug to reduce blood fat. Isis's drug raised the level of 'good' cholesterol in the blood by up to 52 percent. ... Full Story | Top |
| Protest halts Libya's Zueitina port's oil exports for 6th day Monday, Jul 22, 2013 04:53 AM PDT TRIPOLI (Reuters) - Protesters demanding jobs closed off the eastern Libyan port of Zueitina for a sixth day on Monday, extending a halt in oil exports, a senior oil industry source said. Roughly a dozen men last Tuesday evening forced their way into the port, just hours after Zueitina Oil Company workers had temporarily suspended a strike and resumed production at oilfields that pump to the terminal. "The situation is still the same," a senior Libyan oil industry source said. "Exports are still down as of yesterday evening. I do not think there has been any change this morning. ... Full Story | Top |
| Africans bid to avert oil shutdown over Sudan rebel row Monday, Jul 22, 2013 04:12 AM PDT  By Aaron Maasho ADDIS ABABA (Reuters) - African governments stepped up their efforts to prevent a shutdown of oil production in South Sudan on Monday, agreeing to send three generals to investigate Sudanese allegations that Juba is supporting anti-Khartoum rebels. Sudan, the sole conduit for South Sudan's oil exports, said last month it would close two cross-border oil pipelines within 60 days and insisted output be shut by August 7 unless Juba gave up its support for the rebels. Juba denies backing them. ... Full Story | Top |
| UK gas lower as flows from North Sea fields rise Monday, Jul 22, 2013 03:41 AM PDT LONDON (Reuters) - British prompt gas prices fell on Monday as flows rose following a return to service by an import terminal, with much of the increased supply expected to be pumped into storage sites. Gas for within-day delivery traded at 65 pence per therm, down 1 pence from Friday's settlement. Flows from UK gasfields gained as the Theddlethorpe terminal ramped up supply following the end of maintenance and an unplanned outage last week. The day-ahead delivery contract rose 0.10 pence to 65.00 pence per therm. ... Full Story | Top |
| Chinese police visit AstraZeneca, question one employee Monday, Jul 22, 2013 01:55 AM PDT LONDON/SHANGHAI (Reuters) - Chinese police have visited the Shanghai office of British drugmaker AstraZeneca , the latest foreign firm to be investigated following allegations against GlaxoSmithKline . An AstraZeneca spokeswoman said on Monday that police had visited on Friday and taken away one employee for questioning. China has accused GSK, Britain's biggest drugmaker, of bribing officials and doctors to boost sales and raise the price of its medicines, marking a hardening stance against malpractice by multinationals operating in the country. ... Full Story | Top |
| S.Africa's Eskom to sell EL30, ES23, ES26 on July 24 Monday, Jul 22, 2013 12:27 AM PDT  JOHANNESBURG (Reuters) - South African power utility Eskom will sell up to 200 million rand of its EL30 inflation-linked bond and the ES23 and ES26 straight bonds on July 24, the company said on Monday. Full Story | Top |
| Minor miners face major headache from iron ore giants Sunday, Jul 21, 2013 11:29 PM PDT  By James Regan SYDNEY (Reuters) - From Africa to Australia, opportunities to develop small iron mines are fast disappearing, as cash dries up and miners are unable to compete with the crushingly low production costs of the sector's heavyweights. In Australia alone, a half a dozen or more projects pegged by prospectors in better times sit stranded in the outback with no timetable for development. Most are running short on money and have stripped payrolls and equipment spending to a bare minimum, awaiting a turnaround that forecasters predict is a long way off at best. ... Full Story | Top |
| Briton kidnapped in Nigeria's Lagos released Sunday, Jul 21, 2013 11:16 PM PDT ABUJA (Reuters) - A British national kidnapped last week shortly after arriving at Nigeria's Lagos airport has been released, the British High Commission said on Sunday. The man was kidnapped on July 16 by gunmen who attacked his four-wheel-drive car after it left the airport's international terminal heading for a residential area of Lagos, security sources told Reuters. His Nigerian driver was shot in the hand. "We can confirm the release of a British national today in Nigeria, following his abduction on 16 July," a statement from the British High Commission said, giving no further details. ... Full Story | Top |
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