IBT Staff Reporter

151321-151350 (out of 154948)

Food safety a big problem worldwide: WHO officials

China should not be singled out for particular concern over food safety, a big problem that rich and poor countries alike must tackle through better regulation, top World Health Organization (WHO) officials said on Tuesday.

Basell to buy Lyondell for $12 billion

Chemical maker Basell said on Tuesday it would buy Lyondell Chemical Co. for about $12.14 billion, giving it access to Lyondell's commodity assets and refining capacity. Basell has been seeking acquisitions in the chemical sector and was last week trumped by Apollo Management's Hexion Specialty Chemicals in a bid for Huntsman Corp.

Earnings Preview: Google

Google, Inc. is expected to post double-digit gains in profit and sales when it reports second-quarter results on Thursday as the company maintains a substantial lead in online search.

News Corp., Dow Jones reach tentative deal

News Corp. has reached a tentative deal to buy Dow Jones & Co. Inc., parent company of the Wall Street Journal, for $5 billion, the Journal reported late Monday. The Dow Jones board will meet on Tuesday to consider the $60-a-share offer after negotiators reached an agreement in principle Monday afternoon.

Barclays to sweeten bid for ABN: FT

Barclays is planning to sweeten its offer for ABN AMRO after a consortium of rivals led by Royal Bank of Scotland revised its bid for the Dutch bank, the Financial Times said on Tuesday.

FACTBOX: Japan's many earthquakes

More than 10,000 people huddled in evacuation centers in northwest Japan on Tuesday after a strong earthquake the previous day killed nine people and injured more than 1,000.

Dow hits record amid subprime worries

The broader U.S. stock market fell on Monday on worries that troubles in the subprime mortgage market may spread, but optimism about earnings at multinational companies pushed the Dow to nearly 14,000. Energy stocks fell, led by ConocoPhillips, because of concern about dwindling profit margins for gasoline.

Lead hits record, nickel slips, copper eases

Industrial metal lead extended its recent hot streak on Monday, hitting another high, while steel additive nickel was hit by reports of lower use, fund managers and analysts said.

China blames foreign media for food health scares

Foreign media have fuelled unfounded fears about Chinese products, the nation's top quality official has said, as China blocked a U.S. protein powder shipment while the two countries sparred over safety worries.

Harry Potter rides to top of box office charts

Harry Potter and the Order of the Phoenix whisked its way to No. 1 at movie box offices with weekend ticket sales of $77.4 million and a five-day total of just over $140 million, according to studio estimates on Sunday.

New sweet crudes to put Asia market under pressure

Some 120,000 barrels a day of new high-quality, low-sulphur oil will start flowing from Asian fields this quarter, putting strong regional crude differentials under some pressure and boosting light product yields.

Vodafone denies planning $160 bln bid for Verizon

Wireless telecommunications company Vodafone Group Plc denied a report that it was considering a $160 billion bid for Verizon Communications Inc., a move that would consolidate ownership of their wireless joint venture.

IHOP to buy Applebee's for $2.1 billion

IHOP Corp. said on Monday it plans to buy Applebee's International Inc. for $25.50 per share, as the newly restructured company seeks growth outside its iconic pancake chain. The companies said the all-cash deal, which represents a 4.6 percent premium to Applebee's closing price on Friday, was worth $2.1 billion.

Dubai stock market owner to bid for OMX: report

The owner of Dubai stock exchange is preparing an offer for Nordic stock market group OMX, rivaling the proposed $3.7 billion merger between OMX and U.S. group Nasdaq, Telegraph.co.uk reported on Sunday.

Asia shares ease

Asian shares mostly eased on Monday with South Korea retreating from record highs on fears the government may move to cool the market, while Brent crude was about $1 away from its highest level due to supply worries.

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