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  • ST PETERSBURG, Russia, June 19- Russia's Aeroflot sees the Russian aviation industry crisis deepening and is renegotiating its jet order with U.S. planemaker Boeing as the carrier seeks to reduce its fleet, Chief Executive Vitaly Savelyev said on Friday. Aeroflot signed a contract for 22 Boeing 787 Dreamliners in 2007 with delivery scheduled for 2014, but the...

  • An international arbitration court ruled last July that Russia must pay $50 billion for expropriating the assets of Yukos, which was once Russia's biggest oil producer and was run by Mikhail Khodorkovsky, a businessman who used to be Russia's richest man but fell out with the Kremlin. The GML group of former shareholders who made the claim said then it would be...

  • SEOUL, June 18- South Korea's Hotel Shilla Co Ltd has temporarily shut its hotel in Jeju Island after learning that a former guest has been diagnosed with Middle East Respiratory Syndrome, a Hotel Shilla spokesman said on Thursday. The guest had been staying between June 5-8 at the hotel in Jeju, a holiday destination, before being diagnosed some time after...

  • HELSINKI, June 16- Nokia said on Tuesday that South Korea's LG Electronics has agreed a deal to use the Finnish company's smartphone patent license but royalty payments will be settled in a lengthy arbitration process. Nokia sold its once-dominant phone business to Microsoft last year, leaving it focused on its telecoms network equipment business while...

  • Nigeria starts investigating crude oil swap contracts Saturday, 13 Jun 2015 | 4:16 AM ET
    A worker inspect facilities on an upstream oil drilling platform at the Total oil platform at Amenem, 35 kilometers away from Port Harcourt in the Niger Delta in 2009.

    Nigeria is probing whether it was short-changed by deals to swap crude for refined products, the state oil company, traders and a security source said.

  • Nigeria starts investigating crude oil swap contracts Saturday, 13 Jun 2015 | 2:32 AM ET

    ABUJA, June 13- Nigerian authorities have launched an investigation to determine whether the government has been short-changed by a state oil company scheme to swap crude for refined products, the company, three oil traders and a security source said. The contracts, known as offshore processing agreements are between Pipelines and Product Marketing Co, a...

  • MOSCOW, June 4- Russia's second largest gas producer, Novatek, said on Thursday it had signed a long-term contract with Royal Dutch Shell to supply around 0.9 million tonnes of LNG annually for more than 20 years. "We are currently finalizing Novatek's contract portfolio for the supply of LNG from the Yamal LNG project. Considering the extensive expertise of...

  • SEOUL, June 3- South Korea's SK Innovation Co Ltd has signed a contract to sell its 11.1 percent stake in Peruvian natural gas transporter Transportadora de Gas del Peru for $251 million, the company said in a statement on Wednesday. A 3.94- percent stake is being sold to Spanish utility Enagas, with the remaining 7.25 percent going to Habanera, a Canadian...

  • SEOUL, June 1- South Korea's manufacturing activity contracted for a third consecutive month in May and fell to its lowest level since mid-2013, a private survey showed on Monday, casting further shadows on the country's economic recovery. The HSBC/ Markit purchasing managers' index of South Korea's manufacturing sector slid to a seasonally adjusted 47.8 in...

  • OTTAWA, May 29- Canada's economy contracted by the most in nearly six years in the first quarter, with business investment and exports both falling as the country grappled with a slump in oil prices. The data was slightly worse than the Bank of Canada's anticipation of no growth, though Governor Stephen Poloz had said the quarter would be "atrocious" as...

  • *First-quarter GDP revised down to show contraction. *GDP shrinks at a 0.7 percent annual rate. WASHINGTON, May 29- The U.S. economy contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls, a resurgent dollar and disruptions at West Coast ports, but activity already has rebounded modestly.

  • *First-quarter GDP revised down to show contraction. *GDP shrinks at a 0.7 percent annual rate. WASHINGTON, May 29- The U.S. economy contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls and a resurgent dollar, but activity has rebounded modestly.

  • ZURICH, May 29- Switzerland's economy contracted in the first quarter, data showed on Friday, with strong household spending softening what would have been a bigger drop after the central bank allowed the franc to float freely against the euro. Friday's GDP data is the first to cover the period immediately after the Swiss National Bank removed its 1.20 per euro...

  • MEXICO CITY, May 27- Mexico's Communications and Transport Ministry has said it will ask the Public Administration Ministry to audit its contracts with builder OHL Mexico, which has become embroiled in a corruption scandal. Recordings were leaked online this month of individuals, alleged to be OHL Mexico officials, discussing overcharging for a public works...

  • AMSTERDAM, May 26- In handing out lucrative public procurement contracts, Qatar is likely to favor countries whose airports grant take-off and landing slots to state-owned Qatar Airways, its chief executive said on Tuesday. While he later stressed that he had no direct influence over public procurement decisions, he said Qatar offered rich pickings for...

  • LOS ANGELES, May 22- Union dockworkers at all 29 U.S. West Coast ports have voted overwhelmingly to ratify a contract agreement reached in February with shipping companies and terminal operators to end months of labor strife that snarled trans-Pacific trade. Members of the International Longshore and Warehouse Union voted 82 percent in favor of the new...

  • *PMIs point to 0.4 pct euro zone growth in Q2- Markit. LONDON/ NEW YORK, May 21- U.S. and euro zone business growth slowed in May while China's factory sector contracted again, reinforcing the need for major central banks to continue supporting economic growth. Growth in euro zone business activity also weakened in May, just two months after the European Central Bank...

  • HOUSTON, May 14- Striking workers at Marathon Petroleum Corp's Galveston Bay, Texas, refinery are scheduled to vote on Monday on a new contract proposal hammered out by a federal mediator, company and union officials said on Thursday. National Labor Relations Board told labor and management that they had found merit to charges brought by the local union over...

  • HOUSTON, May 14- Striking workers at Marathon Petroleum Corp's Galveston Bay, Texas, refinery are scheduled to vote on Monday on a new contract proposal hammered out by a federal mediator, an official of the United Steelworkers union local chapter said on Thursday. National Labor Relations Board told labor and management that they had found merit to charges...

  • May 11- Goldman Sachs Inc has been ordered to pay $80 million, plus interest, to the National Australia Bank for breaches associated with the sale of mortgage-linked securities, according to a court filing. The May 7 decision, that came from an arbitration panel under the Financial Industry Regulatory Authority, granted NAB's request for compensation and also...