Sterling Energy to raise 62.5 mln stg via equity issue
Oil and gas company Sterling Energy Plc said on Friday it would raise 62.5 million pounds ($103.6 million) in a discounted placing of new shares and that it had ended all talks regarding the sale of the company. Sterling Energy, which said in April it had agreed with its syndicate banks on a waiver until mid-August on repayment schedule of outstanding loans, said it had further amended the waiver agreement to mid-February 2011, conditional upon completion of the placing.
China names top energy official as nuclear corp head
China appointed a new chief for its top nuclear firm, China National Nuclear Corp (CNNC), after its former general manager was dismissed for seriously violating discipline, the official Xinhua news agency said on Friday.
EURUSD hits 1-wk high after Europe GDP data
The euro hit a one-week high against the dollar on Thursday after the euro zone's two biggest economies posted surprise returns to growth in the second quarter, helping drag the dollar lower.
Climate pact means new business, not trade war: U.S. envoy
Trade wars after a planned U.N. climate deal are implausible, partly because of a surge of new business opportunities creating jobs in clean energy, the head of the U.S. delegation at U.N. climate talks said.
Race is on as U.S. home buyer tax credit nears end
Samantha Kielar is scrambling to find a house in Colorado before the doors slam shut on an $8,000 first-time buyer's tax credit she needs for her downpayment or home repairs.
VW to buy 42 pct stake in Porsche sportscar unit
Volkswagen on Thursday agreed to buy a 42 percent stake in the sports car unit of debt-ridden Porsche SE , another step toward combining the two German carmakers into a European automotive giant.
Apple board to discuss Schmidt replacement: report
Apple Inc's board plans to meet next Tuesday and discuss potential replacements for Google Inc Chief Executive Eric Schmidt, who stepped down from the board earlier this month, the Wall Street Journal reported on Thursday, citing a person familiar with the matter.
GM says no deal with Magna yet on Opel sale
General Motors' top negotiator for the sale of its European business took issue on Friday with assertions that Opel suitor Magna had struck a deal in principle on a contract for the deal.
CIT, clothing maker Scherr settle: report
CIT Group Inc , the cash-strapped corporate lender struggling to avoid bankruptcy, made an out-of-court settlement with apparel maker Scherr Inc that sued to end its relationship with the company, the New York Post said.
Stock futures point to mixed Wall St open
Stock index futures pointed to a mixed start on Wall Street on Friday ahead of U.S. CPI figures and earnings news from Abercrombie & Fitch and JC Penney .
European data drives world stocks to 10-mth high
World stocks hit 10-month highs for a second day running on Friday after euro zone growth data in the previous session and positive earnings from the world's largest retailer also boosted sentiment.
Merkel ally says only Magna would get state aid
The federal government in Berlin and the states where Opel has plants are only prepared to offer financing aid if Canada's Magna wins the battle for the carmaker, a senior ally of German Chancellor Angela Merkel said.
Japan shares hit 10-month peak on eurozone data
Japanese stocks ended at a 10-month high on Friday after upbeat eurozone growth data and positive earnings from the world's largest retailer helped offset gloomy U.S. retail and jobs data, factors which pulled down the dollar.
150 American UBS clients may face criminal charges: report
150 American clients of UBS are likely to face criminal charges related to tax evasion in the United States, the New York Times reported, citing a person briefed on the matter.
Deadline for U.S. broadband grants, loans extended
The deadline for online applications for the first round of the U.S. government's $7.2 billion program to provide broadband access to all Americans was extended to August 20 from August 14 because of technical problems caused by the high number of applicants.
American UBS clients may face criminal charges: report
150 American clients of UBS are likely to face criminal charges related to tax evasion in the United States, the New York Times reported, citing a person briefed on the matter.
Microsoft, Nokia form alliance to rival RIM
Microsoft Corp and Nokia announced an alliance on Wednesday to bring business software to smartphones and counter the dominance of Research in Motion Ltd's BlackBerry.
More U.S. home sellers cutting prices: survey
One in four U.S. homes for sale on August 1 had their prices marked down at least once since landing on the market, data compiled by real estate website Trulia.com showed on Friday.
Japan stocks at 10-month high after eurozone data
Japan's Nikkei share average rose to a 10-month high on Friday after upbeat eurozone growth data and positive earnings from the world's largest retailer helped offset gloomy U.S. retail and jobs data, factors which brought down the dollar.
Bank of America ends arbitration of card disputes
Bank of America Corp , the largest U.S. bank, said on Thursday it is dropping a requirement that forces consumers with disputes on credit cards and other accounts into an arbitration process, which critics say favors card issuers.
U.S. gov't testing technology to evade China, Iran web censors
The U.S. government is testing new technology in China and Iran to evade web screening protocols of restrictive regimes, a top technology official told Reuters.
Daily Wrap Up - August 13
Who is the Pay Czar?; IOUs to End; Top Paid Exec
Deadline for US broadband grants, loans extended
The deadline for online applications for the first round of the U.S. government's $7.2 billion program to provide broadband access to all Americans was extended to August 20 from August 14 because of technical problems caused by the high number of applicants.
Kohl's '09 profit view weak, but Nordstrom raises
Department store operator Kohl's Corp gave a weak outlook for the rest of 2009 due to higher costs from new store openings, but upscale retailer Nordstrom Inc raised its profit view for the year and said recent sales trends were encouraging.
Blackstone's Schwarzman tops U.S. CEO payroll: study
Taking his private equity firm public paid off big for Blackstone Group LP's Stephen Schwarzman, who became the top-paid chief executive in the United States last year, a title he is likely to retain for some time, according to an analysis released on Thursday.
Blackstone's Schwarzman tops US CEO payroll: study
Taking his private equity firm public paid off big for Blackstone Group LP's Stephen Schwarzman, who became the top-paid chief executive in the United States last year, a title he is likely to retain for some time, according to an analysis released on Thursday.
District 9 gets acclaim from most critics
The science fiction film District 9 produced by The Lord of the Rings' Peter Jackson has been well reviewed as an intense well crafted and original film.
U.S. video game sales down 29 percent in July: report
U.S. video game equipment and software sales fell 29 percent in July to $848.9 million, research group NPD said on Thursday, as the gaming industry limps through the economic downturn.
'District 9' Movie Reviews Upbeat; Rotten Tomatoes gives it 98%
District 9, a movie filmed in a faux-documentary style, is one part South Africa apartheid history lesson and one part X-Files.
Nordstrom meets Street, raises guidance
Nordstrom Inc posted a steep decline in quarterly profit on Thursday that nevertheless met Wall Street's expectations, as the upscale department store chain controlled inventory and expenses to offset languishing sales.
