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Oil price to close some projects, will return to fair level - Russia

Yahoo - DRC - 1 hour 24 min ago
MOSCOW (Reuters) - Lower oil prices will close ineffective oil projects, decreasing output to support prices which will return to a "fair level", Russian Energy Minister Alexander Novak said on Wednesday. In Vienna, talks between Saudi Arabia, fellow OPEC member Venezuela and non-members Russia and Mexico yielded no agreement on Tuesday on how to address a growing oil glut, ending without any plan to cut output. OPEC meets on Thursday. Novak told reporters Russia would not postpone its Arctic projects. ...
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Chances ECB buys government bonds still 50-50 - Reuters Poll

Yahoo - DRC - 1 hour 25 min ago

By Rahul Karunakar (Reuters) - There is still only an even chance the European Central Bank will buy government bonds, according to a Reuters poll of economists taken after ECB President Mario Draghi warned last week of the need to bring inflation back to target "without delay." The poll, conducted after Draghi opened the door to more aggressive asset purchases in a strongly-worded speech on Friday, also concluded the ECB is likely to buy corporate bonds in addition to covered bonds and asset-backed securities. ...


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Two FBI agents shot at house near Ferguson unrest

Yahoo - DRC - 1 hour 32 min ago
FERGUSON, Mo. (Reuters) - Two FBI agents were shot and wounded at a house in north St. Louis County early on Wednesday, though the incident was "not directly related" to racially charged unrest in and around nearby Ferguson, an agency spokeswoman said. One agent was shot in the shoulder and the other was shot in the leg while assisting local police in executing an arrest warrant, FBI spokeswoman Rebecca Wu said in a brief statement. Their injuries were not life-threatening. "The incident is not directly related to the Ferguson protests," Wu said, but did not elaborate further. ...
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Switzerland's wealthy expats braced for vote on tax break

Yahoo - DRC - 1 hour 33 min ago
By Joshua Franklin ZURICH (Reuters) - Many of Switzerland's foreign millionaires will be watching nervously on Sunday as voters decide whether or not to scrap one of the country's biggest tax perks for expatriates. Switzerland's system of charging foreign residents with no gainful activity in the country a lump sum based on their living expenses, instead of taxing assets or income, has helped make it a popular home for the super rich. ...
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Ginsburg gets heart stent to clear artery clog

Yahoo - DRC - 1 hour 38 min ago

WASHINGTON (AP) — Supreme Court Justice Ruth Bader Ginsburg had a heart stent implanted Wednesday to clear a blocked coronary artery but was expected to be back at work for the start of next week, court officials said.


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EU regulators approve Airbus, Safran space launch joint venture

Yahoo - DRC - 1 hour 40 min ago

BRUSSELS (Reuters) - European Union antitrust regulators cleared on Wednesday a proposed joint venture by Airbus Group and Safran aimed at strengthening Europe's competitiveness vis-a-vis U.S. low-cost rival SpaceX. The European Commission said its approval was conditional on French aero engines maker Safran excluding its activities in electric satellite thrusters from the joint venture. It also agreed to guarantee the supply of certain components to third parties on transparent terms. ...


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Does It Matter If Restaurants List Calorie Counts on Their Menus?

Yahoo - DRC - 1 hour 40 min ago

Calorie labeling on restaurant menus, once confined to large chain restaurants in certain cities, is soon coming your way. On Tuesday, the Food and Drug Administration announced its final rules for nationwide nutritional labeling, implementing a little-known provision of the Affordable Care Act that called for its expansion. The rules stipulate that any business with more than 20 locations that sells prepared food—think vending machines and food trucks in addition to restaurants—will have one year to comply with the rules. ...


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Obama's immigration move disappoints businesses

Yahoo - DRC - 1 hour 48 min ago

WASHINGTON (AP) — President Barack Obama's executive actions on immigration left out some of the business community's top priorities, disappointing business leaders who might have stepped up to defend his policies in the face of Republican attacks.


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Switzerland's bank staff shun aid fund for U.S. tax case

Yahoo - DRC - 1 hour 49 min ago
ZURICH (Reuters) - Only a handful of staff at Swiss banks have drawn on a $2.6 million (2 million pound) fund set up to help bankers and other employees who have fallen on hard times because of a U.S. crackdown on tax evasion through hidden offshore accounts. At least 25 people, including bankers such as former UBS executive Raoul Weil, lawyers and asset managers, have been charged by U.S. authorities with assisting tax evasion via Swiss banks since 2008, rocking the country's banking industry. Data on thousands of bank employees have been handed over to U.S. ...
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Turkey bans reporting on corruption investigation of ex-ministers

Yahoo - DRC - 1 hour 49 min ago

By Gulsen Solaker ANKARA (Reuters) - A Turkish court has banned media from reporting on a parliamentary investigation into corruption allegations against four ex-ministers, a move the opposition says amounts to protecting thieves. Tayyip Erdogan, then prime minister and now president, has called the corruption scandal this year a plot to unseat him. Courts have since dropped cases, including those against the sons of three ministers and businessmen close to Erdogan. ...


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Ryanair undecided if will back Aer Lingus pension deal

Yahoo - DRC - 1 hour 52 min ago
DUBLIN (Reuters) - Aer Lingus' largest shareholder, rival Irish airline Ryanair, has yet to decide whether to back a deal to end a long-running pension dispute that is seen as key to the airline's valuation. The pension scheme, which employees at Aer Lingus share with other aviation industry workers, has a deficit of more than 700 million euros (555 million pounds) compared to Aer Lingus' market capitalisation of 880 million euros. The shareholder vote on the proposed one-off 191 million euro payment is the last major obstacle to a resolution. ...
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Judge says Spanish minister benefited from kickback scheme

Yahoo - DRC - 1 hour 54 min ago

By Elisabeth O'Leary and Rodrigo De Miguel MADRID (Reuters) - A Spanish investigating judge has accused the health minister of benefiting from a kickback scheme that has already damaged Prime Minister Mariano Rajoy's People's Party (PP). The High Court released judge Pablo Ruz's formal ruling the day before Rajoy was due to argue in parliament in favour of a new anti-corruption bill that includes restrictions on party financing. ...


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Thomas Cook hit by shock CEO departure, slowing growth

Yahoo - DRC - 1 hour 55 min ago

By Sarah Young LONDON (Reuters) - British holiday company Thomas Cook defended its decision to replace Chief Executive Harriet Green on Wednesday after the abrupt departure of the woman credited with reviving the business hammered its shares. Chief Operating Officer Peter Fankhauser has replaced Green with immediate effect, moving up to the top job after 13 years with the company, the last of them in his current role. ...


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Hungary's ruling party down in polls over Web tax, quarrels with West

Yahoo - DRC - 2 hours 2 min ago

BUDAPEST (Reuters) - Public support for Hungarian Prime Minister Viktor Orban's ruling Fidesz party fell sharply in November, a survey showed on Wednesday, hit by a plan to tax Internet use that it later dropped and by disputes with Western powers. The survey by pollster Tarki put support for Fidesz at 25 percent, down by a third from 37 percent in October. The far-right Jobbik and liberal LMP parties each gained one percentage point, to 12 percent and 3 percent, respectively, while the ranks of the undecided jumped 10 points to 44 percent. ...


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UK plans to make insurance executives more accountable

Yahoo - DRC - 2 hours 6 min ago
By Huw Jones LONDON (Reuters) - Chief executives and other senior officials at insurance companies in Britain will be made more directly accountable to regulators for their decisions under plans announced by the Bank of England on Wednesday. The plans follow those the Bank's Prudential Regulation Authority (PRA) has already drawn up for senior bankers, although they are less demanding in some respects. Under the proposals, insurers will have to allocate specific responsibility for developing and embedding the culture of their firms to one or more senior managers. ...
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Chrysler recall delay hikes air bag risk - U.S. regulator

Yahoo - DRC - 2 hours 9 min ago

By Bernie Woodall DETROIT (Reuters) - Chrysler Group LLC must expand its regional recall of vehicles with Takata Corp air bags and begin notifying customers of the action by Monday, the U.S. National Highway Traffic Safety Administration said. Chrysler's delay in alerting owners of potential defects in Takata air bags "exacerbates the risk to motorists' safety," the NHTSA said in a letter sent on Tuesday to company Chief Executive Officer Sergio Marchionne. ...


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Egypt opens Rafah crossing to stranded Palestinians bound for Gaza

Yahoo - DRC - 2 hours 12 min ago

By Nidal al-Mughrabi GAZA (Reuters) - Egypt opened the Rafah border crossing on Wednesday for the first time in a month to allow thousands of stranded Palestinians to return to the Gaza Strip, border officials said. However, the frontier remained closed in the other direction, making it impossible for the vast majority of Gazans to leave the densely populated Mediterranean enclave. The Rafah crossing was shut on Oct. ...


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U.S. consumer, business spending data point to slowing growth

Yahoo - DRC - 2 hours 12 min ago

By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer spending rose modestly in October and a key measure of business spending plans fell for a second straight month, suggesting some slowing in the pace of economic growth. But the economy remains resilient in the face of faltering global demand. Other data on Wednesday showed consumer confidence approaching a 7-1/2-year high in November and new home sales rising for a third straight month in October. "We think growth will moderate in the fourth quarter. ...


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Lithuania may supply weapons as part of military aid to Ukraine - minister

Yahoo - DRC - 2 hours 16 min ago

VILNIUS (Reuters) - Lithuania may supply weapons to Ukraine as part of military aid it promised to help Kiev fight pro-Russian separatists, the Lithuanian defence minister told Reuters in an interview on Wednesday. NATO countries have so far been reluctant to arm non-member Ukraine against the well-equipped rebels in order to avoid provoking Russia, although the United States is providing Ukraine with non-lethal military equipment. Before a ceasefire came into effect on Sept. ...


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Saudi, UAE signal no push for OPEC oil cut

Yahoo - DRC - 2 hours 17 min ago

By Alex Lawler, Amena Bakr and Rania El Gamal VIENNA (Reuters) - OPEC leader Saudi Arabia and fellow member the United Arab Emirates signalled on Wednesday they were unlikely to push for a major change in oil output at the group's meeting this week to prop up prices that have sunk by a third since June. Saudi Oil Minister Ali al-Naimi said he expected the oil market "to stabilise itself eventually", after talks with non-OPEC member Russia on Tuesday yielded no pledge from Moscow to tackle a global oil glut jointly. ...


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by Dr. Radut