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Showing posts from July 30, 2014

Britain says to pass emergency phone and email data law

Britain said on Thursday it would rush through emergency legislation to force telecoms companies to retain the data of users for a year, saying the move was vital to protect national security following a decision by Europe's top court. _0"> Communication companies had been required to retain data for 12 months under a 2006 European Union directive which was thrown out by the European Court of Justice in April. The scrapping of the directive could deprive police and intelligence agencies of access to information about who customers contacted by phone, text or email, and where and when, the British government said. British Prime Minister David Cameron said the emergency legislation would restore this capability and enshrine it in law, ensuring investigations would not be hampered and giving protection to the telecom firms from possible legal challenges. However, he stated the measure would not give the authorities any new powers to access Britons' personal data or t

Russia's Rosneft, Zarubezhneft to agree on Cuban offshore block this week

Russian state oil companies Rosneft and Zarubezhneft plan to sign an agreement with Cuban state oil company Cubanpetroleo to develop an offshore block 37, a senior Russian official said. _0"> Yuri Ushakov, an aide to President Vladimir Putin who plans to visit Cuba on July 11, told reporters the companies were aiming to agree on the deal during his visit. He did not provide any other details. A number of factors are working against Cuba's oil hopes, among them the political and logistical difficulties imposed by the long-standing U.S. trade embargo against the island. (Reporting by Dasha Korsunskaya; writing by Katya Golubkova, editing by Elizabeth Piper)

UPDATE 1-U.S. House Republicans seek CDC documents on anthrax scare

Congressional Republicans asked the Obama administration on Wednesday to provide documents related to last month's anthrax scare at a U.S. lab facility, where more than 80 people were initially feared to be exposed to the deadly pathogen. In a series of letters, top Republicans on the House Energy and Commerce Committee asked for the results of several Centers for Disease Control and Prevention (CDC) lab inspections and audits of potential weaknesses in biosecurity protocols dating back to October 2007. "How many suspected exposures to select agents and/or toxins have been reported at CDC since October 2007? How many actual exposures have been reported," said the July 9 letter to CDC Director Dr. Thomas Frieden signed by three Republican panel members including Chairman Fred Upton of Michigan. The lawmakers, who also requested information from the inspector general of U.S. Department of Health and Human Services, said they were gathering information for a July 16 hear

PRESS DIGEST- Financial Times - July 10

The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. _0"> Headlines AbbVie retraction shows panel has teeth ( ) Citi to pay $7 bln to resolve U.S. probe ( ) Lufthansa considers launching low-cost long-haul service ( ) European regulators fine Servier of France ( ) UK's Financial Conduct Authority sets sights on high-frequency traders _0"> ( ) _1"> _2"> Aldi and Lidl lead charge of discount supermarkets _3"> ( ) _4"> _5"> Peer-to-peer lender wins landmark rating _6"> ( ) _7"> _8"> Overview _9"> _10"> AbbVie Chief Executive Richard Gonzalez was on Wednesday forced to retract comments made by him while discussing shareholder support for the U.S. drugmaker

Swiss stocks - Factors to watch on July 10

Swiss stocks were expected to open steady on Thursday, in line with European factors seen unchanged after the Federal Reserve showed no rush to end its easy money policy. _0"> The Swiss blue-chip SMI was seen flat at 8,540 points, according to premarket indications from bank Julius Baer . The following are some of the main factors expected to affect Swiss stocks on Thursday: CREDIT SUISSE Banca Generali said on Thursday it had reached an agreement to buy the Italian affluent and upper affluent private banking operations of Credit Suisse Italy. For more, click on COMPANY STATEMENTS * Addex Therapeutics announced positive results with ADX71441 in preclinical models of nicotine addiction. * Basellandschaftliche Kantonalbank said first-half net income increased by 3.6 percent to 49.3 million Swiss francs. * Basilea's said its partner Astellas submitted isavuconazole U.S. NDA for the treatment of invasive aspergillosis and invasive mucormycosis. * Schindler will in

India's Glenmark Pharma seeks foreign partners on biologic drugs

India's Glenmark Pharmaceuticals Ltd is in talks with foreign companies for a partnership on two of its biological drugs being tested for the treatment of chronic pain and autoimmune disorders, a senior executive said on Thursday. Glenmark is looking for companies whose research pipelines would complement its experimental drugs, GBR830 and GBR900, which are both in phase 1, or early stage clinical trials on humans, Chairman and Managing Director Glenn Saldanha said. He declined to give names, but said he expects to find partners by the time the two drugs complete phase 2 clinical trials, which will be "anywhere from a year to two years." "It will depend on whether the companies are therapeutically focused on that area and whether they have a conflicting molecule in their pipeline," Saldanha said in an interview at Glenmark's headquarters in Mumbai. While India's $15 billion pharmaceutical industry is mainly engaged in the development and sale of g

UPDATE 2-Pork producer WH Group seeking up to $3bln in revised Hong Kong IPO-IFR

Chinese pork producer WH Group Ltd is seeking to raise up to $3 billion as early as this month in a revived Hong Kong initial public offering (IPO) which saw the deal size cut by nearly two-thirds, Thomson Reuters publication IFR reported on Thursday. The offer would be the second attempt this year by the world's biggest pork company to go public, as it seeks funds to repay part of the debt it took to foot last year's $7.1 billion purchase of U.S. pork producer Smithfield International. In April, WH Group pulled an Hong Kong IPO it had hoped would raise up to $5.3 billion after investors baulked at the high valuation. The 29 banks - a record number - hired to manage the offer also sent confusing signals to institutional investors, while the negative publicity surrounding sky-high executive compensation raised corporate governance issues. The new IPO would only comprise primary shares, meaning existing shareholders including CDH Investments, New Horizon, Goldman Sachs and Te

ECB survey points to steady derivative-market funding costs

Credit costs for securities financing and derivatives transactions were little changed in the three months to the end of May, a European Central Bank survey released on Thursday showed. _0"> The ECB's June survey of credit terms and conditions in euro-denominated securities financing and over-the-counter (OTC) derivatives markets showed that: * Price terms remained almost unchanged for most counter-party types except hedge funds. * Non-price credit terms eased for banks, dealers and hedge funds, but on balance remained basically unchanged for other counterparty types. * Credit terms for funding that is collateralised by euro-denominated securities eased further for many types of collateral, albeit to a lesser extent than during the previous reference period. "The survey suggests that, across the entire range of securities financing and over-the-counter derivatives transactions, offered price terms (such as financing rates/spreads) on balance remained almost unch