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  • Overall, U.S. drillers reduced the number of active rigs by just one this week, oil services company Baker Hughes Inc said. In the latest week, drillers added three oil rigs in the Niobrara basin in Wyoming and Colorado and two in the Eagle Ford in South Texas, according to the closely followed report. The Permian basin in western Texas and eastern New Mexico, the...

  • NEW YORK, May 22- Oil fell more than 1 percent on Friday as a rallying dollar and profit-taking ahead of a long U.S. holiday weekend cut short a two-day run-up in crude prices. Drillers cut the number of U.S. oil rigs in operation by just one this week, the strongest sign yet that a nearly six-month slump in activity was ending, data from oil services firm Baker Hughes...

  • BERLIN— The chief executive of German airline Lufthansa says unannounced tests to check pilots for prescription drugs might help improve air safety. Carsten Spohr made the comments in an interview with the Frankfurter Allgemeine Zeitung, published Friday— almost two months after a plane belonging to Lufthansa subsidiary Germanwings crashed in the French...

  • Bayer CEO sees multinational state aid for antibiotics Friday, 22 May 2015 | 12:00 PM ET

    One country alone can't shoulder it, "CEO Marijn Dekkers told Germany's Der Spiegel magazine, according to an excerpt of an interview provided to Reuters on Friday. The funds were expected to be pledged during the June summit of the Group of Seven wealthy nations in Germany, he was quoted as saying. Germany's health ministry has said Berlin would seek to address...

  • *Coming up: Baker Hughes rig count at 1700 GMT. NEW YORK, May 22- Oil fell more than 1 percent on Friday as a rallying dollar and profit-taking ahead of a long U.S. holiday weekend cut short a two-day run-up in crude prices. U.S. crude was down 95 cents at $59.77 a barrel by 11:45 a.m. EDT.

  • *Meets handful of leaders on sidelines of summit in Riga. RIGA, May 22- British Prime Minister David Cameron said on Friday he was confident of winning concessions from European Union leaders before he asks voters whether Britain should stay in the bloc. After his Conservative Party won an unexpected majority in a May 7 election, Cameron is committed to...

  • ZURICH, May 22- Top UBS executives and board members this week sold shares in the Swiss bank worth 23.8 million Swiss francs, according to the Swiss stock exchange. In seven separate transactions, 1.167 million shares in total were sold on Thursday, shortly after the Zurich- based bank's stock rose to its highest in six-and-a-half years following a...

  • PARIS, May 22- France's highest administrative court on Friday approved two out of three main restrictions on private chauffeured vehicle services such as Uber that were introduced last year after complaints from traditional cab drivers of unfair competition. France's constitutional council said drivers of private chauffeured vehicles must return to...

  • *Bundesbank chief says can't always be about buying Greece time. RIGA, May 22- European leaders told Greece on Friday to return to the negotiating table for "intensive work" to wrap up a reform agreement before cash runs out, sidestepping Athens' demand for a comprehensive, long-term solution to its troubles. The leaders offered help, but told Tsipras to get back to...

  • THE HAGUE, Netherlands— The Dutch government said Friday it will sell off ABN Amro bank in phases beginning later this year, seven years after the state took it over to prevent its collapse during the global financial crisis. Prime Minister Mark Rutte said the financial sector is now stable enough, there is sufficient interest in the market and ABN Amro is ready...

  • The talks underscored Altice's intentions to pursue a deal with Time Warner Cable, which is also being courted by Charter Communications Inc after Comcast Corp abandoned its $45.2 billion offer for Time Warner Cable last month over U.S. antitrust concerns.

  • PARIS— France's highest court has rejected ride-sharing company Uber's bid to have much of a recent law banning its services declared unconstitutional. Uber had sought to overturn multiple restrictions placed on it and similar services by a law enacted last year after a series of large and sometimes violent protests by taxi companies seeking to ban the...

  • LONDON, May 22- Copper prices fell on Friday on worries about demand in top consumer China, while nickel hit a four-week low after stocks in LME registered warehouses climbed to a record high. Three-month copper traded down at $6,200 a tonne in official rings from $6,260 at Thursday's close. "The fundamental situation in the copper market clearly speaks to higher...

  • LONDON, May 22- A shortage of prime office space in rival European financial centres may torpedo plans by some of London's banks to quit the UK capital if Britain opts out of European Union membership. Deutsche Bank, the euro zone's second largest bank by assets, confirmed this week it was considering cutting its UK operations if the country pulled out, and other...

  • Ouch! French high court deals blow to Uber Friday, 22 May 2015 | 8:13 AM ET
    An Uber app on a mobile phone in Washington, D.C.

    France's highest court on Friday backed restrictions on unlicensed taxi services in a decision adding to U.S. start-up Uber's legal troubles.

  • PARIS, May 22- France's highest administrative court on Friday backed restrictions on unlicensed taxi services in a decision adding to U.S. start-up Uber's legal troubles. A Paris appeals court had been waiting for the decision before ruling on whether to ban Uber's unlicensed taxi service, known as UberPOP. Created by two Silicon Valley entrepreneurs...

  • *Gaza's economic output contracted 15 percent in 2014. JERUSALEM, May 22- Gaza's economy is in a worse state than any other in the world, with unemployment at a global high, output contracting sharply and the long-term prospects worrying, the World Bank said on Friday. "Blockades, war and poor governance have strangled Gaza's economy and the unemployment rate is now...

  • *Enel plans to build 5 GW of renewable energy in Africa. PARIS, May 22- Italian utility Enel plans huge investments in renewable energy and grids in Africa, where it expects to find the kind of growth it has enjoyed in Latin America. Enel's chief executive officer Francesco Starace told Reuters that in five years Enel expects to have built up to 5,000 megawatts of...

  • *Islamic State advances in Iraq, Syria raise supply worries. LONDON, May 22- Oil prices slipped on Friday as worries over the impact of war in the Middle East on crude supplies were outweighed by reports of profit-taking ahead of a long weekend. "No one wants to hold open positions ahead of a long weekend so books are being squared, bringing some consolidation," said...

  • *China worries weigh on copper. LONDON, May 22- Copper fell on Friday as worries about China dominated sentiment, but expectations of stronger demand from the top consumer over coming months limited losses. "The fundamental situation in the copper market clearly speaks to higher prices," said Daniel Briesemann, analyst at Commerzbank in Frankfurt.