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| Wall St. dips on caution before Fed debates stimulus policy Monday, Jul 29, 2013 12:38 PM PDT  By Caroline Valetkevitch NEW YORK (Reuters) - Stocks dipped on Monday as investors took a cautious stance before a Federal Reserve meeting this week that could signal when the Fed might begin to alter its stimulus plans. The energy sector led the day's losses, with the S&P energy index down 0.9 percent, while Caterpillar was up 0.9 percent at $82.82 and gave the Dow its biggest boost after announcing a $1 billion accelerated stock repurchase program. ... Full Story | Top |
| Medium chance of cyclone North of Puerto Rico: NHC Monday, Jul 29, 2013 11:09 AM PDT (Reuters) - Remnants of tropical storm Dorian, located a couple of hundred miles north of Puerto Rico, have a 30 percent chance of becoming a tropical cyclone during the next 48 hours, the U.S. National Hurricane Center said in its latest advisory. The remnants of Dorian are expected to move west-northwestward at 15 miles per hour to 20 miles per hour over the next couple of days. (Reporting by Shrutee Sarkar in Bangalore; Editing by Gerald E. McCormick) Full Story | Top |
| Philadelphia building collapse injures eight: officials Monday, Jul 29, 2013 11:04 AM PDT By Daniel Kelly (Reuters) - Eight people were injured in Philadelphia in what police said might have been a gas explosion that caused the collapse of one building and damage to others nearby on Monday. Authorities suspected a gas explosion and local residents reported a strong smell of gas when they emerged from their homes after the blast. "The street was full of debris," said local resident Carol McKenna. Philadelphia Gas Works crews were dispatched to the scene by the city's fire department and immediately shut off gas to the area, said PGW spokeswoman Melanie McCottry. ... Full Story | Top |
| Synta Pharma shares soar after co says to expand breast cancer study Monday, Jul 29, 2013 10:20 AM PDT (Reuters) - Synta Pharmaceuticals Corp shares soared as much as 47 percent in heavy trading after the company said preliminary results from a mid-stage study of its drug ganetespib in breast cancer patients supported an expansion of the study. According to the design of the trial, it would advance to the second stage of enrollment if at least one patient achieved objective tumor response, a measure of reduction in tumor size. The study, codenamed ENCHANT-1, showed that four patients achieved an objective tumor response. ... Full Story | Top |
| Colombia's ELN rebels pledge to free Canadian captive soon Monday, Jul 29, 2013 09:54 AM PDT BOGOTA (Reuters) - Colombian rebel group the National Liberation Army said on Monday it would soon free a Canadian citizen it seized six months ago after his employer, gold miner Braeval, decided it would no longer mine in the area where he was kidnapped. The smaller of Colombia's two insurgent groups, known as the ELN, said the mining company's decision "showed goodwill" and brings closer the release of geologist Jernoc Wobert, who was kidnapped along with two Peruvian and three Colombian colleagues in northern Bolivar province. The other captives were freed weeks later. ... Full Story | Top |
| Uganda in talks with Chinese firm to bail out indebted MPs Monday, Jul 29, 2013 09:20 AM PDT By Elias Biryabarema KAMPALA (Reuters) - The Ugandan parliament is in talks with a Chinese company on buying out the debts of legislators facing high repayment fees on loans taken against their salaries, a member of parliament said on Monday. The arrangement has been criticized by diplomats and rights groups, who say Uganda is giving too much leverage to China as its companies secure many infrastructure and oil contracts. ... Full Story | Top |
| Drugmaker Perrigo to buy Ireland's Elan for $8.6 billion Monday, Jul 29, 2013 08:10 AM PDT By Padraic Halpin and Sam Cage DUBLIN (Reuters) - U.S. drugmaker Perrigo agreed to buy Elan for $8.6 billion in a deal that will hand it tax savings from being domiciled in Ireland and royalties from a blockbuster multiple sclerosis treatment. The deal, agreed on Monday, ends a bitter takeover battle in which Elan rejected three lower bids from U.S. investment firm Royalty Pharma amid injunctions, court hearings and a war of words before putting itself up for sale last month. ... Full Story | Top |
| Kuwait's emir reappoints PM after election Monday, Jul 29, 2013 07:41 AM PDT  KUWAIT (Reuters) - Kuwait's ruler reappointed Sheikh Jaber al-Mubarak al-Sabah as prime minister after Saturday's election in the Gulf state and asked him to form a new cabinet, state news agency KUNA said on Monday. Sheikh Jaber, who has held the post since late 2011, will now form a new government of around 15 ministers, with top posts expected to go to members of the ruling Al-Sabah family. ... Full Story | Top |
| Analysis: Bayer immune to pharma's breakup bug? Monday, Jul 29, 2013 07:22 AM PDT  By Ludwig Burger and Frank Siebelt FRANKFURT (Reuters) - Investors banking on Bayer to embrace a trend in the pharma sector to split off non-core units may be too far ahead of the curve. The diversified German healthcare group has an unusually high threshold for selling its odd-one-out MaterialScience unit, which is the world's largest maker of chemicals for insulation foams and transparent plastics for DVDs and car lights. ... Full Story | Top |
| In leaving, Siemens CEO seeks to take down chairman Monday, Jul 29, 2013 05:19 AM PDT  By Maria Sheahan FRANKFURT (Reuters) - Siemens CEO Peter Loescher, whose departure was announced after he issued profit warnings that wrecked the share price of one of Germany's largest industrial conglomerates, may drag the man who hired him down with him, a newspaper reported on Monday. In what is quickly shaping up to be one of the most dramatic corporate battles in Germany in years, German daily Sueddeutsche Zeitung cited company sources as saying Loescher was willing to resign only if supervisory board chairman Gerhard Cromme also leaves. ... Full Story | Top |
| Iran's Rouhani to pack cabinet with old hands Monday, Jul 29, 2013 04:47 AM PDT  DUBAI (Reuters) - Iranian President-elect Hassan Rouhani will pick a cabinet of experienced insiders and will appoint the head of a powerful charity-cum-business foundation as his chief nuclear negotiator, Iranian news agencies said on Monday. Rouhani, who was elected last month and will be inaugurated on August 4, has pledged a less abrasive stance in nuclear talks with world powers than outgoing President Mahmoud Ahmadinejad, who offended many in the West by denying the Holocaust and calling for Israel to be erased "from the page of time". ... Full Story | Top |
| With EU sales likely capped, China solar firms will need new markets Monday, Jul 29, 2013 04:20 AM PDT  By Charlie Zhu HONG KONG (Reuters) - A weekend deal between Beijing and Brussels to regulate trade in solar panels will limit Chinese firms' growth prospects in the European Union, the world's largest solar market, and force them to step up sales to 'emerging' markets at home and in the United States and Japan. News of a deal - which had threatened to boil over into a wider trade war covering wine and steel - helped push up shares in Shanghai-listed solar panel makers Hareon Solar and Shanghai Chaori on Monday, outperforming a 1.7 percent drop on the Shanghai Composite Index . ... Full Story | Top |
| China agrees to talks on French wine dispute, EU says Monday, Jul 29, 2013 03:36 AM PDT  BRUSSELS (Reuters) - China and the European Union have agreed there is a "window for discussions" to try to resolve accusations that Europe is dumping wine in China, the EU's trade chief said on Monday. The agreement is part of a deal announced at the weekend to defuse a row over dumping of Chinese solar panels in Europe, the biggest trade dispute yet between the two economies. ... Full Story | Top |
| Iran's Rouhani to nominate Zanganeh as oil minister: ISNA Monday, Jul 29, 2013 02:58 AM PDT DUBAI (Reuters) - Iranian President-elect Hassan Rouhani will nominate Bijan Zanganeh to return to the post of oil minister which he held under Iran's reformist government from 1997 to 2005, Iran's ISNA news agency said on Monday. Quoting sources in Rouhani's office, it also said the moderate cleric, elected last month and due to be inaugurated on August 4, would nominate Mohammad Forouzandeh as head of the Supreme National Security Council, a position which would make him Iran's chief nuclear negotiator. ... Full Story | Top |
| Iran's Rouhani to nominate Forouzandeh as chief nuclear negotiator: ISNA Monday, Jul 29, 2013 02:18 AM PDT DUBAI (Reuters) - Iranian President-elect Hassan Rouhani is to nominate Mohammad Forouzandeh as head of the Supreme National Security Council, a position which would automatically make him Iran's chief nuclear negotiator, Iran's ISNA news agency said on Monday, quoting sources inside Rouhani's office. Forouzandeh is a former Revolutionary Guard and a current member of the Supreme National Security Council and head of a large and economically powerful state charitable foundation. There was no official confirmation of the report. ... Full Story | Top |
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