IBT Staff Reporter

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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.
Aug 22, 2011

White House: Vacationing Obama working on economy

President Barack Obama has taken heat for taking a vacation when the U.S. economy is struggling, but aides are striving to make clear he is not neglecting the country's finances during his break.
Aug 22, 2011

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.
Aug 22, 2011

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’
Aug 22, 2011

Hurricane Irene 2011: Florida May Be Spared Direct Hit

Hurricane Irene may pass off the coast of Florida, according to updated path projections from the National Weather Service. The storm is expected to strengthen into a Category 3 hurricane with winds up to 115 mph.
Aug 22, 2011

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.
Aug 22, 2011

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.
Aug 22, 2011

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.
Aug 22, 2011

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.
Aug 22, 2011

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.
Aug 22, 2011

Fewer Stars In the Sky as Universe Runs Out of Gas

Galaxies are running out of gas, causing the universe to form fewer stars, TG Daily said. The reason behind the star shortage is a shortage of molecular hydrogen, an Australian research team explained.
Aug 22, 2011

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.
Aug 22, 2011

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.
Aug 22, 2011

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.
Aug 22, 2011

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.
Aug 22, 2011

Data may prove Bristol, 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.
Aug 22, 2011

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