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| Bank of Japan contest becoming more open race as Muto loses momentum Saturday, Feb 23, 2013 05:21 PM PST  TOKYO (Reuters) - Former top bureaucrat Toshiro Muto is losing some momentum in the race to become Japan's next central bank governor, making for a more open contest, which will kick off in full force this week following Prime Minister Shinzo Abe's return from his U.S. trip. Muto had been considered the leading candidate to replace incumbent Masaaki Shirakawa, who leaves on March 19 after a five-year term. Muto remains on the short list with strong backing from bureaucrats at the powerful Ministry of Finance. ... Full Story | Top |
| UK downgrade pressures reluctant Osborne to change course Saturday, Feb 23, 2013 04:07 PM PST  LONDON (Reuters) - Britain's finance minister insisted on Saturday he would not change course after the loss of the country's 'AAA' credit rating but George Osborne is facing pressure to do just that as his bet on austerity falters ahead of the 2015 election. Moody's dealt Britain its first sovereign rating downgrade on Friday, saying the $2.5 trillion economy faced years more sluggish growth and debt would continue to rise until 2016. ... Full Story | Top |
| U.S. Justice, Gulf states crafting BP spill settlement Saturday, Feb 23, 2013 02:05 PM PST  (Reuters) - The U.S. government and Gulf Coast states are considering offering BP Plc a deal under which it pays $16 billion to settle civil suits stemming from the deadly 2010 Deepwater Horizon explosion and oil spill, the Wall Street Journal reported on Friday. The deal would cover the company's potential penalties under the Clean Water Act and payments under the Natural Resources Damage Assessment, the newspaper said, citing sources familiar with the discussions. It was unclear if the deal has been formally offered to BP. The U.S. Justice Department declined to comment. ... Full Story | Top |
| RBS seen planning Citizens Financial IPO Saturday, Feb 23, 2013 12:43 PM PST  (Reuters) - The Royal Bank of Scotland will unveil plans next week to float a portion of its stake in U.S. retail bank Citizens Financial Group Inc, the Telegraph newspaper reported late on Friday. A full sale of Providence, Rhode Island-based Citizens could raise more than 8 billion pounds ($12.21 billion) for Britain's largest state-backed lender, which has been under pressure from regulators to strengthen its balance sheet. ... Full Story | Top |
| Russia's Rosatom says in talks with Finnish firm on nuclear reactor Saturday, Feb 23, 2013 06:34 AM PST HELSINKI (Reuters) - Nuclear consortium Fennovoima has held talks with Russia's Rosatom over a reactor supply deal for its plant in northern Finland, an executive of the Russian nuclear company told Finnish radio. Fennovoima has said it would choose this year between two potential suppliers, Areva and Toshiba , but Rosatom on Saturday said Fennovoima had also recently opened talks with the Russian firm. ... Full Story | Top |
| Einhorn scores legal victory versus Apple in cash scuffle Saturday, Feb 23, 2013 06:11 AM PST  NEW YORK (Reuters) - A U.S. judge handed outspoken hedge fund manager David Einhorn a victory in his battle with Apple Inc on Friday, blocking the iPhone maker from moving forward with a shareholder vote on a controversial proposal to limit the company's ability to issue preferred stock. U.S. District Judge Richard Sullivan in Manhattan granted a motion by Einhorn's Greenlight Capital for a preliminary injunction stopping a vote on that proposal, scheduled for the company's February 27 stockholders' meeting. ... Full Story | Top |
| Morocco's Attijari says one-off items cap 2012 profits Saturday, Feb 23, 2013 12:29 AM PST RABAT (Reuters) - Morocco's biggest lender, AttijariWafa Bank, said on Friday its net profit edged up 1 percent to 4.5 billion dirhams last year, held back by one-off items. Contributions to a solidarity fund imposed on banks by the government to fight poverty pulled net income down by 120 million dirhams, while provisions to hedge for political instability in Tunisia and Ivory Coast lopped off another 118 million, the bank said in a statement. A further 100 million dirhams went into a 2.1 billion dirham capital increase for bank employees last year. ... Full Story | Top |
| Brazil firm interested in Guinea iron ore but not Simandou Saturday, Feb 23, 2013 12:26 AM PST  BELO HORIZONTE, Brazil (Reuters) - The head of Brazilian investment group B&A Mineracao confirmed the company is interested in Guinean iron ore assets but dismissed market speculation its interest extended to a slice of Guinea's biggest Simandou deposit. One of the founders of the group, Roger Agnelli, is a former boss of Brazilian miner Vale and led Vale's push into Guinea in 2010 when it took a stake in iron ore assets that included the northern half of Simandou. ... Full Story | Top |
| Exxon lifts force majeure on Nigerian Qua Iboe crude Saturday, Feb 23, 2013 12:25 AM PST NEW YORK (Reuters) - Exxon Mobil Corp has lifted a force majeure on the Nigerian Qua Iboe crude stream put in place on February 7, the company said in a statement on Friday. The company said that pipeline work had prompted the declaration. "Mobil Producing Nigeria, operator of the Nigerian National Petroleum Corporation, (NNPC)/MPN Joint Venture today confirms that it has lifted the Force Majeure it declared on February 7, 2013," the company said in a statement. ... Full Story | Top |
| Burundi to get 68 mln euros in EU aid to boost power supply Saturday, Feb 23, 2013 12:23 AM PST  BUJUMBURA (Reuters) - The European Union will give Burundi 68 million euros to be used to improve electricity generation and transmission in rural areas to improve food production in the tiny central African country, an EU official said on Friday. International donors will fund 49 percent of Burundi's 2013 budget of 1.3 trillion francs. While the government fears that global economic and financial troubles could reduce external aid, it expects to receive grants worth 645.3 billion francs this year against 523.2 billion francs in 2012. ... Full Story | Top |
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