IBT Staff Reporter

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Brent slips as market eyes Libya oil restart

Brent crude edged lower on Monday in choppy trading as investors hoped the process to restart oil exports from OPEC member Libya would begin soon as the country's six-month-old civil war neared an end.

ENI leads Libya oil race; Russia, China may lose out

Italian oil company Eni led the charge back into Libya on Monday as rebels hailing the end of Muammar Gaddafi's rule warned Russian and Chinese firms that they may lose out on lucrative oil contracts for failing to support the rebellion.

Data may prove Bristol and Pfizer drug a winner

Despite being third to market, a new bloodthinner from Bristol-Myers Squibb and Pfizer may become the biggest seller in an emerging multibillion-dollar class of drugs for preventing strokes in heart patients.

IBM Founder Knew How to Tackle Economic Slump

Peter E. Greulich documents Thomas J. Watson, Sr.’s founding leadership that enabled IBM to grow for a century in ‘The World’s Greatest Salesman: An IBM Caretaker’s Perspective, Looking Back’

Nigerian naira falls to 2-month low vs dollar

The Nigerian naira fell to its weakest in almost two months against the U.S. dollar on the interbank market on Monday after the central bank removed restrictions on the amount of dollars lenders could sell to bureaux de change.

Harmony sees no threat from PNG ownership

The CEO of Harmony Gold, the world's fifth largest gold producer, said reported plans to shift mineral ownership in Papua New Guinea to local communities from the state would complicate negotiations but nationalisation was not being discussed.

Ghana parliament to debate China's $3 bln loan

Ghana's parliament will begin debating on Monday a $3 billion loan facility awarded by China Development Bank to the west African nation to finance infrastructure projects including in the oil and gas sector, a government statement said.

Libya to Stay on High Risk List: Ship Insurers

There is no immediate prospect of removing Libya from a list of areas deemed high risk by London's marine insurance market, and underwriters will seek a stable period in the country before looking at a de-listing, a market official said on Monday.

Setback for Sprint in motion against TerreStar

A bankruptcy court has denied Sprint Nextel Corp's motion for a partial summary judgment in a proceeding against bankrupt mobile satellite network operator TerreStar Networks Inc , U.S. Bancorp and others.

Bank of America leads U.S. bank shares lower

Bank of America Corp shares fell as much as 6.6 percent on Monday, reaching their lowest level in two weeks, as investors fretted about the bank facing additional legal liabilities over mortgages.

Bank of America shares fall as investors fret

Bank of America Corp shares fell as much as 6.6 percent on Monday, reaching their lowest level in two weeks, as investors fretted about the bank facing additional legal liabilities over mortgages.

Brent oil drops as Libya civil war nears end

Brent crude fell more than 1 percent on Monday as investors anticipate a resumption of oil exports from the OPEC-member Libya, where rebels moved to control most of Tripoli and an end to the six-month-old civil war seemed close.

Lowe's sets aside $5 billion for share buyback

Lowe's Companies Inc put aside $5 billion to buyback its shares over the next two to three years, joining a string of companies digging into their cash reserves to shore up their stocks in a weak economy.

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