Ukraine said on Friday it will have to negotiate a new gas deal with Russia because of previously-undisclosed plans to break up the republic's existing energy company.
The unexpected announcement came in the heat of the two neighbors' second spat over gas prices in three years and appeared part of a Ukrainian effort to force Russia to ease its negotiating stance over prices.
Full StoryU.S. oil-services giant Halliburton said Friday that it was filing a defamation lawsuit against BP over the devastating 2010 oil spill in the Gulf of Mexico.
"Halliburton... filed claims against BP in Texas state court for negligent misrepresentation, business disparagement and defamation related to the April 20, 2010, Macondo incident," the Houston-based company said.
Full StoryEuropean stock markets closed sharply lower on Friday, hit by fresh worries over the Eurozone debt crisis and a much weaker-than-expected U.S. jobs report.
London's FTSE 100 index of leading companies lost 2.34 percent to 5,292.03 points. In Paris, the CAC 40 shed 3.59 percent to 3,148.53 points and in Frankfurt the DAX dropped 3.36 percent to 5,538.33 points.
Full StoryThe stuttering U.S. economy added no jobs in August amid recession fears and political turmoil over the government's finances, bleak official data showed Friday.
Employment in the private sector, previously the main engine for job growth as revenue-strapped governments shed workers, "changed little" in most major industries, the Labor Department said.
Full StoryIn his first official activity following the presentation of his credentials to President Michel Suleiman, British Ambassador to Lebanon Tom Fletcher visited Beirut Container Terminal Consortium (BCTC) at Beirut port, accompanied by Head of Trade and Investment Paul Khawaja. Ziad Kanaan, board member and Karen Bellamy, General Manager of BCTC presented an overview of the work that the company has been doing over the past seven years.
Bellamy explained the role of the British company and its administration of the port of Beirut over the past years in which it became one of the top most important 100 ports in the world.
Full StoryU.S. authorities have been investigating Oracle for at least a year to see if the business software titan violated anti-bribery laws in its overseas business, the Wall Street Journal reported Wednesday.
Citing unnamed sources, the Journal said the Federal Bureau of Investigation (FBI) and the Justice Department have been pressing a criminal investigation, as the Securities and Exchange Commission looks into possible civil violations.
Full StoryBritish retailer Tesco said Wednesday it had decided to sell its network of 129 small supermarkets in Japan's greater Tokyo region to better focus on its operations in other parts of Asia.
"We have reviewed our portfolio in Asia and the performance of our business in Japan. Having made considerable efforts in Japan, we have concluded that we cannot build a sufficiently scalable business," Tesco chief executive Philip Clarke said in a statement.
Full StoryOil prices hovered near $89 a barrel Wednesday in Asia after a report showed U.S. crude supplies unexpectedly jumped last week, a sign demand may be weakening.
Benchmark oil for October delivery was up 14 cents to $89.04 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude rose $1.63 to settle at $88.90 on Tuesday.
Full StoryInflation in the 17 euro countries remained steady at 2.5 percent in August, adding to expectations the European Central Bank will hold off from raising interest rates — and may even consider cutting them — as economic growth slows.
Wednesday's figure is still above the ECB's target of just below 2 percent, but underlines that prices in the eurozone are not rising as quickly as earlier in the year. In June, inflation was 2.7 percent.
Full StoryAir France-KLM, British Airways and Lufthansa are the safest airlines in Europe, according to a study ranking the "ten safest airlines" by the Air Transport Rating Agency (ATRA) released Monday.
The safest U.S.-based airlines are AMR Corporation, Continental Airlines, Delta Airlines, Southwest Airlines, United Airlines and U.S. Airways, while the safest from Asia is Japan Airlines, it said, without giving a ranking within the top ten.
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