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| Tanzania signs $414 mln power plant deal with Japan's Sumitomo Corp Saturday, Jun 01, 2013 12:37 AM PDT DAR ES SALAAM (Reuters) - Tanzania has signed an agreement with Japan-based Sumitomo Corp to build a 240-megawatt natural gas-fired power plant, the Tanzanian president's office said, as the east African pushes to alleviate power problems. The office said Sumitomo will set up the plant on the outskirts of Tanzania's commercial capital Dar es Salaam, at a cost of 675 billion Tanzanian shillings. Sumitomo will implement the project jointly with other Japanese companies, including Japan Bank for International Cooperation, Nippon Export and Investment Insurance and Sumitomo Mitsui Banking Corp. ... Full Story | Top |
| Kenya says ready to engage mining firms on local stake rule Saturday, Jun 01, 2013 12:33 AM PDT By Duncan Miriri NAIROBI (Reuters) - Kenya will hold discussions with mining firms to reach a common position over a law requiring the companies to set aside 35 percent of shares for local shareholders, its new mining minister said on Friday. Enacted late last year, the law angered foreign investors, who warned it had the potential to kill the east African nation's nascent mining industry. Kenya has more than 300 local and foreign firms prospecting for minerals or producing on a small scale, up from less than 30 two years ago, the national chamber of mines says. ... Full Story | Top |
| Mexico's Aeromexico and union avert strike, delay key decision Saturday, Jun 01, 2013 12:29 AM PDT By Alexandra Alper and Miguel Gutierrez MEXICO CITY (Reuters) - Mexico's biggest airline Aeromexico and its unionized workers forged a last-minute accord early on Saturday to avoid a strike that could have ground some 300 flights a day, delaying a decision on a crucial sticking point. The union known as ASSA, which represents about 1,300 Aeromexico flight attendants, had threatened a midnight strike if it did not get the 5 percent salary hike and 3 percent boost in benefits it sought. ... Full Story | Top |
| Five killed in Oklahoma tornadoes, storms move northeast Saturday, Jun 01, 2013 12:20 AM PDT  By Heide Brandes OKLAHOMA CITY (Reuters) - Tornadoes killed five people in central Oklahoma including a mother and her baby and menaced Oklahoma City and its hard-hit suburb of Moore, before the storm system tracked northeast early on Saturday. The National Weather Service said the severe weather threat would shift into neighboring Illinois and Missouri, where Governor Jay Nixon declared a state of emergency on Friday. The tornadoes struck just 11 days after a twister ranked as EF5, the most powerful ranking possible, tore through Moore and killed 24 people. ... Full Story | Top |
| Under pressure Infosys recalls Narayana Murthy as chairman Saturday, Jun 01, 2013 12:18 AM PDT  MUMBAI (Reuters) - Indian IT services firm Infosys Ltd, grappling with a string of disappointing results and loss of market share, has recalled founder and former chairman N.R. Narayana Murthy to act as executive chairman for five years. He replaces current chairman K.V.Kamath, who will become lead independent director, effective June 1. The current executive co-chairman S. Gopalakrishnan will be re-designated executive vice chairman, while current chief executive officer S.D. Shibulal will remain in his position, Infosys said in a statement on Saturday. ... Full Story | Top |
| China punishes two brokerages in IPO fraud crackdown Friday, May 31, 2013 08:18 PM PDT BEIJING (Reuters) - China's securities watchdog has punished two brokerages for violating rules in helping fraudulent firms to list shares, underlining Beijing's determination to bring credibility to a stock market some have likened to a casino. The China Securities Regulatory Commission will fine Minsheng Securities 2 million yuan ($326,000) for failed due diligence in Shanxi Tianneng Technology's attempt to launch an initial public offering in 2011, the regulator said in a statement on its website. ... Full Story | Top |
| Ex-NBA player Mookie Blaylock in critical condition after crash Friday, May 31, 2013 08:07 PM PDT  By David Beasley ATLANTA (Reuters) - Former NBA player Mookie Blaylock was in critical condition at an Atlanta hospital on Friday after being involved in a car crash that killed another person, police said. Jonesboro Police Chief Frank Allen told Reuters that Blaylock, 46, was taken off life support when his condition stabilized. Atlanta Medical Center spokeswoman Nicole Gustin said Blaylock, who played most of his career with the Atlanta Hawks, was listed in critical condition at the facility, but she could not release other details. ... Full Story | Top |
| Pistorius lawyer demands answers over bloody leaked pictures Friday, May 31, 2013 08:06 PM PDT  By Peroshni Govender JOHANNESBURG (Reuters) - Lawyers for "Blade Runner" Oscar Pistorius demanded answers from South African police and prosecutors on Friday after pictures of the bathroom and toilet where he shot dead his girlfriend were leaked to a British television station. Sky News obtained a series of images of the crime scene in Pistorius' luxury Pretoria home where the double amputee track star shot his girlfriend, model Reeva Steenkamp, on Valentine's Day on February 14. ... Full Story | Top |
| CA-BUSINESS Summary Friday, May 31, 2013 07:23 PM PDT Soft data, commodity prices take TSX to one-week low TORONTO (Reuters) - Canada's main stock index retreated sharply on Friday as lower commodity prices triggered a slump in shares of natural resource companies and weak economic data out of Europe and the United States dampened investor sentiment. While almost every major sector declined, the index still looked on track for a gain in May, reversing losses in the previous two months. ... Full Story | Top |
| China May official PMI stronger than expected Friday, May 31, 2013 07:23 PM PDT  BEIJING (Reuters) - China's official PMI rose to 50.8 in May from 50.6 in April, data showed on Saturday, beating market expectations and raising optimism that the world's second-largest economy may be stabilizing. Investors will get a fuller picture of the Chinese economy on Monday when the official services PMI is released along with the final HSBC survey that focuses on smaller private sector firms in the country. ... Full Story | Top |
| 'GMA' beats 'Today' in May sweeps for first time in 19 years Friday, May 31, 2013 06:04 PM PDT By Jethro Nededog LOS ANGELES (TheWrap.com) - ABC's "Good Morning America" notched another victory over NBC's "Today" with Friday's announcement that it had won May sweeps in both the key demo and total viewers for the first time in 19 years. During the May sweeps period, "GMA" attracted 1.8 rating/13 share and 2.1 million viewers per episode in the advertiser-coveted key news demo of Adults 25-54, 110,000 more than "Today" (1.7/12, 1.99 million viewers) for the first time in 19 years. "GMA" also won in total viewers with an average 4. ... Full Story | Top |
| DirecTV, two others bid over $1 billion for Hulu: source Friday, May 31, 2013 05:10 PM PDT  By Ronald Grover and Liana B. Baker (Reuters) - Satellite operator DirecTV and two other bidders have offered more than $1 billion apiece to buy Hulu, a source with knowledge of the bidding process said on Friday, increasing the likelihood that owners News Corp and Walt Disney Co will be able to shed the video streaming service they failed to sell in 2011. Hulu board members, who are being advised by Guggenheim Partners on the auction, fielded at least seven buyout offers last week, the source said. ... Full Story | Top |
| Ex-NBA player Mookie Blaylock on life support after crash -report Friday, May 31, 2013 05:09 PM PDT May 31 (Reuters) - Former NBA player Mookie Blaylock was on life support in an Atlanta hospital after being involved in a car crash on Friday, the Atlanta Journal-Constitution reported. Atlanta Medical Center spokeswoman Nicole Gustin confirmed that Blaylock, 46, who played most of his career with the Atlanta Hawks, was listed in critical condition at the facility, but she could not release other details. ... Full Story | Top |
| Federal judge lifts ban on public access to Medicare data Friday, May 31, 2013 05:01 PM PDT By Maurice Tamman (Reuters) - A federal judge lifted a 33-year-old injunction barring public access to a confidential database of Medicare insurance claims, a decision that could lead to greater scrutiny of how physicians treat patients and charge for their services. Judge Marcia Morales Howard ruled Friday in favor of a motion by Dow Jones, publisher of the Wall Street Journal, that the U.S. District Court for the Middle District of Florida lift an injunction imposed in 1979. ... Full Story | Top |
| British businessmen await Cuba's verdict as graft trial ends Friday, May 31, 2013 04:50 PM PDT By Marc Frank HAVANA (Reuters) - The two-day trial of two top executives of a British investment fund ended in Havana on Friday with a five judge panel expected to deliver its verdict within 10 days. The sentences of two other foreigners tried a week ago have yet to be announced, as the government presses forward with an unprecedented crackdown on corruption. In this week's trial on the communist-run island, Amado Fakhre, a Lebanese-born British citizen and chief executive officer of Coral Capital Group Ltd, faced various bribery charges related mainly to the fund's import business. ... Full Story | Top |
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