Today's Reuters Business News Headlines - Yahoo! News:
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Union says refinery workers strike more likely
Sat,28 Jan 2012 08:16 PM PST
Reuters - HOUSTON (Reuters) - The United Steelworkers union warned on Saturday that a strike by U.S. refinery workers as early as 12 a.m. Wednesday was becoming more likely due to "the lack of a more substantive response from the industry." Union and oil company negotiators have been meeting since January 17 to hammer out a new three-year agreement for workers at nearly two-thirds of U.S. refining capacity. Union negotiators have not sent out a similar warning to refinery workers in the past three rounds of contract talks with the industry. ... Full Story | Top |
Union says refinery workers strike more likely
Sat,28 Jan 2012 03:50 PM PST
Reuters - HOUSTON (Reuters) - The United Steelworkers union warned on Saturday that a strike by U.S. refinery workers as early as 12 a.m. Wednesday was becoming more likely due to "the lack of a more substantive response from the industry. Union and oil company negotiators have been meeting since January 17 to hammer out a new three-year agreement for workers at nearly two-thirds of U.S. refining capacity. The Steelworkers union has warned that the lack of improved safety protections for workers at the nation's refineries could bring about the first nationwide strike since 1980. ... Full Story | Top |
Irish voters would back EU fiscal treaty: poll
Sat,28 Jan 2012 12:46 PM PST
Reuters - DUBLIN (Reuters) - Irish voters would narrowly back a proposed European Union treaty to tighten budget rules if it was put to a referendum, an opinion poll showed on Saturday, but a quarter of those questioned said they were still undecided. European leaders are expected to agree on the fiscal compact on Monday in a bid to regain market confidence in the public finances of the 17 countries sharing the euro. Irish citizens, who are entitled to vote on any major transfers of powers to Brussels, are seen as one of the biggest obstacles to overhaul of the bloc. ... Full Story | Top |
Greece, creditors on verge of clinching debt deal
Sat,28 Jan 2012 12:00 PM PST
Reuters -  ATHENS (Reuters) - Greece and its private creditors said on Saturday they were piecing together the final elements of a debt swap and expected to have a deal ready next week, essential for sealing a new bailout and avoiding an uncontrolled default. After muddling through round after round of inconclusive talks, the negotiations are in their final phase - though it appeared unlikely that a preliminary deal would be secured in time for a European Union summit on Monday. ...
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Sanctions to hit EU buyback firms: Iran oil chief
Sat,28 Jan 2012 11:30 AM PST
Reuters - TEHRAN (Reuters) - European companies owed oil by Iran could lose out if Tehran imposes a ban on crude exports to the European Union next week, the head of Iran's state oil company said on Saturday. Iran's parliament is due to debate a bill on Sunday that would cut off oil supplies to the EU in a matter of days, in revenge for a decision last Monday by the 27 EU member states to stop importing crude from Iran as of July 1. ... Full Story | Top |
Greece says expects debt swap deal next week
Sat,28 Jan 2012 09:51 AM PST
Reuters - ATHENS (Reuters) - Greece expects to wrap up a long-awaited debt swap deal with its private creditors next week, Finance Minister Evangelos Venizelos told reporters on Saturday. (Reporting by Lefteris Papadimas) Full Story | Top |
Goldman executives get access to restricted stock
Sat,28 Jan 2012 09:41 AM PST
Reuters - (Reuters) - Top Goldman Sachs Group Inc executives received previously restricted stock awards that are now worth $47.7 million, according to regulatory filings, though the executives are still limited in selling most of their Goldman stock. Chief Executive Lloyd Blankfein, Chief Financial Officer David Viniar, Chief Operating Officer Gary Cohn and top investment banker and vice chairman John Weinberg each received 45,497 shares worth $5.1 million, based on Goldman's closing price of $111.77 on Friday. Seven other executives each received previously awarded shares worth $2. ... Full Story | Top |
IMF leads global push for euro zone to boost firewall
Sat,28 Jan 2012 09:38 AM PST
Reuters -  DAVOS, Switzerland (Reuters) - International Monetary Fund chief Christine Lagarde led a global push on Saturday for the euro zone to boost its financial firewall, saying "if it is big enough it will not get used." Lagarde, supported by the British finance minister, George Osborne, said the IMF could boost its support for the euro zone but pressed its leaders to act first. Some attendees at the Davos Forum still doubted the viability of the currency union. ...
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Greek creditors expect to conclude debt swap next week
Sat,28 Jan 2012 08:26 AM PST
Reuters - ATHENS (Reuters) - Greece's private creditors on Saturday said they were close to finalizing a debt swap deal with Athens and expected to conclude talks next week. The chief negotiators for the creditors, Charles Dallara and Jean Lemierre, will leave Athens on Sunday but stay in touch with Greek authorities, the Institute of International Finance, which negotiates on behalf of creditors, said in a statement. Full Story | Top |
Exxon to sell part of Tonen stake for $3.9 billion: sources
Sat,28 Jan 2012 08:16 AM PST
Reuters - TOKYO (Reuters) - Exxon Mobil plans to sell a large part of its 50 percent stake in TonenGeneral Sekiyu KK back to its Japanese refining partner in a deal that could be worth about 300 billion yen ($3.9 billion), and will make an announcement as early as Monday, four sources with direct knowledge of the matter said. Exxon Mobil will retain about a 20 percent stake in TonenGeneral but the deal will mark a de facto retreat from the world's third-largest economy by the U.S. oil giant, which is focusing its resources on emerging markets and development of natural resources. ... Full Story | Top |
RBS chairman waives $2.2 million bonus after Hester row
Sat,28 Jan 2012 08:12 AM PST
Reuters -  LONDON (Reuters) - Royal Bank of Scotland's Chairman Philip Hampton will not pick up a 1.4 million pound ($2.2 million) stock bonus, the bailed-out bank said, following public anger and political squabbling over a 1 million pound bonus for its chief executive. Anger over bankers' earnings has shown few signs of abating, with many still set for million pound salaries while elsewhere thousands lose their jobs as the global economy stutters in the face of Europe's debt crisis. ...
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Bankers resist regulatory restraint on bonuses
Sat,28 Jan 2012 08:09 AM PST
Reuters -  DAVOS, Switzerland (Reuters) - Budding bankers expecting the bumper bonuses of years gone by will have to think again, with only the top performers likely to be paid top dollar. Business leaders and bankers at the annual Davos forum were largely dismissive of attempts to cap or restrict compensation in the financial services industry through regulation. But they said a combination of public anger, tighter scrutiny from watchdogs, tougher performance measures and a structural fall in profitability in banking in the post-crisis world would curb the excesses of the past. ...
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Swiss urge U.S. tax deal to shield other banks
Sat,28 Jan 2012 07:14 AM PST
Reuters -  DAVOS, Switzerland (Reuters) - The break-up of Switzerland's oldest bank Wegelin on Friday shows the need to settle a dispute with U.S. authorities over tax cheats hiding cash in secret Swiss accounts, the finance minister said on Saturday. "It is very regrettable," Eveline Widmer-Schlumpf told journalists at the World Economic Forum of the decision by Wegelin to break itself up in the face of possible indictment on charges the bank helped wealthy Americans to evade taxes. ...
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Germany wants Greece to give up budget control
Sat,28 Jan 2012 06:03 AM PST
Reuters -  BERLIN (Reuters) - Germany is pushing for Greece to relinquish control over its budget policy to European institutions as part of discussions over a second rescue package, a European source told Reuters on Friday. "There are internal discussions within the Euro group and proposals, one of which comes from Germany, on how to constructively treat country aid programs that are continuously off track, whether this can simply be ignored or whether we say that's enough," the source said. ...
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Nigeria LNG in talks to raise $1 bln to buy six ships
Sat,28 Jan 2012 05:41 AM PST
Reuters - LAGOS (Reuters) - Nigeria Liquefied Natural Gas Company (NLNG) is looking to raise $1 billion in international markets to acquire six LNG carrier ships, and is in the process of appointing financial advisers for the deal, the company said on Saturday. Siene Allwell-Brown, general manager for external relations, told Reuters the operator, which is majority owned jointly by the state oil company NNPC and Royal Dutch Shell, held a board meeting on Thursday to discuss the appointment of advisers for the loan process. ... Full Story | Top |
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