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| Rosneft offers $1.5 billion for TNK-BP minority shareholders Monday, Sep 30, 2013 12:04 AM PDT  MOSCOW (Reuters) - Russian oil producer Rosneft is to buy out minority shareholders of TNK-BP Holding for about $1.5 billion - above the market price but at a level that may disappoint some investors. The deal was announced by the company on Monday after months of hard talks and repeated refusals to buy the shares, which sent jitters through the investor community and raised questions over corporate governance in Russia. ... Full Story | Top |
| South Africa's rand weakens vs dollar, trade data eyed Monday, Sep 30, 2013 12:03 AM PDT  JOHANNESBURG (Reuters) - South Africa's rand weakened against the dollar on Monday and weaker-than-expected trade data and the lack of a resolution to the debt ceiling impasse in the United States could put it under further pressure. The rand was at 10.1450 to the dollar at 0651 GMT, down 0.7 percent from its close in New York on Friday. It fell to a two-week low on Friday as members of the Association of Mineworkers and Construction Union (AMCU) began a strike at Anglo American Platinum's mines over planned job cuts. The South African Revenue Service releases trade data for August at 1200 ... Full Story | Top |
| Nigeria signs $1.3 bln power plant deal with China Monday, Sep 30, 2013 12:01 AM PDT  ABUJA (Reuters) - Nigeria has signed a deal for Chinese state companies to build a $1.3 billion power plant, the finance ministry said on Sunday, part of efforts to end chronic electricity shortages that are a major brake on growth. Nigeria produces only a few hours of electricity a day, forcing those who can afford it to rely on expensive diesel generators that drain billions of dollars from Africa's second largest economy and discourage foreign investment. ... Full Story | Top |
| Total invest in offshore exploration in South Africa Monday, Sep 30, 2013 12:00 AM PDT  PARIS (Reuters) - French oil group Total said on Monday it had bought a 50 percent interest in Block 11B/12B from CNR International Resources Ltd, for an undisclosed amount. The asset is located in the Outeniqua Basin, about 175 kilometers off the southern coast of the country. Total also becomes operator of the block and will drill an exploration well in 2014, the statement said. Full Story | Top |
| South Africa's credit growth quickens to 8.16 pct in August Sunday, Sep 29, 2013 11:55 PM PDT JOHANNESBURG (Reuters) - Growth in credit demand from South Africa's private sector accelerated to 8.16 percent year-on-year in August from 7.41 percent in July, central bank data showed on Monday. Expansion in the broadly defined M3 measure of money supply slowed to 6.9 percent from 7.36 percent. Economists surveyed by Reuters had expected credit growth to slow to 7.3 percent while money supply growth was seen at 7.35 percent. Full Story | Top |
| South African police to investigate Gold Fields South Deep deal Sunday, Sep 29, 2013 11:55 PM PDT  JOHANNESBURG (Reuters) - South Africa's elite anti-corruption police unit said on Monday it was investigating possible graft in a $210 million black empowerment transaction at Gold Fields involving a senior member of the ruling African National Congress (ANC). The investigation comes on the heels of a similar probe by the U.S. Securities Exchange Commission into the dual-listed, Johannesburg-based bullion producer. The 2. ... Full Story | Top |
| Shanghai trade zone publishes restrictions for foreign investment Sunday, Sep 29, 2013 11:46 PM PDT  SHANGHAI (Reuters) - The Shanghai government published a list of sectors on Monday where foreign investment will be banned or restricted within its new free trade zone (FTZ), but in a departure from usual practise, no permission will be required to invest in other sectors. The China (Shanghai) Pilot Free Trade zone officially opened for business on Sunday, and officials have outlined ambitious plans for bold reforms in the country's currency, interest rates, trade and industry policies in the zone, but without giving details on implementation. ... Full Story | Top |
| Typhoon leaves 74 missing in China as Thailand, Vietnam brace for floods Sunday, Sep 29, 2013 11:36 PM PDT  BEIJING/BANGKOK (Reuters) - Seventy-four Chinese fishermen were missing on Monday after a typhoon sunk three fishing boats in the South China Sea as Thailand and Vietnam braced for torrential rain and flooding. The ships were hit by Typhoon Wutip on Sunday as they navigated gales near the Paracel Islands, about 330 km from China's island province of Hainan, state news agency Xinhua said, citing sources with the Hainan maritime search and rescue center. Rescuers had rescued 14 survivors, the sources said. The boats were sailing from the southern province of Guangdong. ... Full Story | Top |
| Tokyo Electric set to receive $5.9 billion financing: source Sunday, Sep 29, 2013 11:16 PM PDT  By Taro Fuse TOKYO (Reuters) - Creditors are set to provide $5.9 billion in financing to Tokyo Electric Power Co (Tepco), a person involved in the talks told Reuters on Monday, offering a lifeline to the embattled owner of the crippled Fukushima nuclear plant. Tepco's major banks are prepared to provide 500 billion yen ($5.09 billion) in financing in December - 200 billion yen in loan rollovers and 300 billion yen in new financing - said the person, who has been involved in financing talks as a representative of one of the utility's major creditors. ... Full Story | Top |
| Decommissioning Tepco's other Fukushima nuclear plant needs special treatment: minister Sunday, Sep 29, 2013 11:16 PM PDT TOKYO (Reuters) - The decommissioning of Tokyo Electric Power Co's Fukushima Daini nuclear power plant, which is near the wrecked Daiichi plant, cannot be dealt with in the same manner as the decommissioning of other nuclear plants, Japanese trade and industry minister Toshimitsu Motegi said on Monday. "The decommissioning of nuclear plants is something the utilities should decide, but we cannot treat the Daini plant in the same manner as other plants when considering the sentiment of Fukushima residents," Motegi said at a parliamentary hearing. ... Full Story | Top |
| Cooper shareholders set to approve $2.5 billion Apollo deal Sunday, Sep 29, 2013 11:09 PM PDT (Reuters) - Cooper Tire and Rubber Co shareholders will likely approve on Monday the U.S. company's $2.5 billion sale to India's Apollo Tyres , in a transaction that is expected to create the world's seventh-largest tyre maker. A green light from Cooper shareholders will bring Apollo one step closer to completing the takeover, although hurdles still remain due to opposition from workers at Cooper's joint venture in China and U.S. labour issues which could delay the deal. ... Full Story | Top |
| Shares, dollar jolted by U.S., Italian politics, China disappoints Sunday, Sep 29, 2013 10:57 PM PDT  By Wayne Cole SYDNEY (Reuters) - U.S. stock futures and the dollar came under pressure on Monday as a shutdown of the U.S. government seemed ever more likely, while the euro had political troubles of its own as the Italian government teetered on the edge of collapse. Hardly helping was a surprise downward revision to activity in China's factory sector. While the final HSBC Purchasing Managers' Index (PMI) did edge up to 50.2 in September, that was well down on the preliminary reading of 51.2. ... Full Story | Top |
| Toshiba to cut 3,000 staff in ailing TV division Sunday, Sep 29, 2013 10:56 PM PDT  TOKYO (Reuters) - Toshiba Corp said on Monday it would cut 50 percent of staff in its loss-making TV unit and cease production at two of its three overseas factories before the end of this fiscal year. Toshiba said it would increase outsourced production to 70 percent from 40 percent and reduce its global staff in the division by 3,000, with two-thirds of those positions overseas. In July it said it would move 400 staff, included in that figure, to other business units. The company did not say which two of its three factories in China, Indonesia and Poland it would close. ... Full Story | Top |
| IBM settles with U.S. Justice Department over job listings Sunday, Sep 29, 2013 10:38 PM PDT  (Reuters) - IBM has agreed to pay $44,400 in civil penalties to settle allegations that certain of its online job postings preferred foreign workers with temporary work visas over U.S. citizens, the U.S. Department of Justice said. IBM had placed certain online job postings for application and software developers that contained citizenship status preferences for F-1 and H-1B temporary visa holders, the Justice Department said in a notification posted on its website late on Friday. ... Full Story | Top |
| 'Breaking Bad' creator cooks up a dark ending for Walt White as series concludes Sunday, Sep 29, 2013 10:10 PM PDT  By Piya Sinha-Roy LOS ANGELES (Reuters) - The journey of anti-hero Walter White came to a dark end on Sunday when fans of "Breaking Bad" finally learned the fate of the chemistry teacher turned drug kingpin, as AMC's cult drug drama concluded after a five-season run. Emmy-winning "Breaking Bad" has captured audiences with its gritty plot about Walter, played by Bryan Cranston, a cancer-stricken chemistry teacher who turns to cooking methamphetamine with ex-student Jesse Pinkman, played by Aaron Paul, in order to make money for his family. ... Full Story | Top |
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