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A US pension fund with nearly $2 billion in assets is considering selling its holdings in some of the world's biggest oil and gas companies because of the threat posed by climate change. The FT reports.
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JOHANNESBURG, Feb 1- An external committee appointed by African mobile phone group MTN to investigate claims by rival Turkcell of corrupt dealings in Iran has dismissed the allegations as "a fabric of lies, distortions and inventions".
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Feb 1- Beam Inc reported a smaller-than-expected decline in fourth-quarter earnings and gave an optimistic 2013 forecast as it benefits from strong demand for bourbon and growth in emerging markets.
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The company earned $126.3 million, or 79 cents per share, up from $88.5 million, or 56 cents per share, in the same quarter last year. Revenue excluding excise taxes rose 11 percent to $709.1 million, from $637.5 million, beating Wall Street predictions of $706.2 million.
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MINNEAPOLIS-- A former head of the Minneapolis FBI office sent federal lawmakers a letter Thursday sharply criticizing President Barack Obama's nominee to lead the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives, calling B. Todd Jones an ineffective leader who consistently declined to prosecute violent gang, drug and gun crimes.
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Feb 1- Beam Inc reported a smaller-than-expected decline in fourth-quarta9742reuff. On a net basis, the maker of Jim Beam, Maker's Mark and Knob Creek bourbons said on Friday that earnings were $126.3 million, or 79 cents per share, in the fourth quarter, up from $88.5 million, or 56 cents per share, a year earlier.
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LEDIG, South Africa, Feb 1- China's scramble for resources is breaking new ground on South Africa's platinum belt. Wesizwe Platinum's Bakubung mine, which aims to start production in 2018 and churn out 350,000 ounces of platinum group metals a year by 2023, is China's first direct investment in the sector and it likely won't be the last.
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BAMAKO/ TIMBUKTU, Mali- Human rights groups said on Friday a French-led offensive against Islamists in Mali had led to civilian deaths in airstrikes and ethnic reprisals by Malian troops, a day before President Francois Hollande was due to visit the country.
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WASHINGTON, Feb 1- The International Monetary Fund's board will consider on Friday whether to issue a so-called declaration of censure against Argentina for failing to fix economic data that many consider flawed, bringing the country a step closer to being sanctioned.
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CHICAGO, Feb 1- After nearly 100 years, researchers could be on the verge of finding a vaccine that would eradicate tuberculosis infections, a scourge that kills 1.4 million people a year. "In my own personal view, I will consider this to be a landmark or a watershed," said Peggy Johnston, senior program officer at the Bill& Melinda Gates Foundation in Seattle.
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Iran's crude exports to its biggest customer, Asia, fell by a quarter in 2012 and shipments this year are expected to drop by at least 12 percent under U.S. sanctions pressure, but ample alternative supplies will keep refiners flush with oil.
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LONDON, Feb 1- From phone bills in Lagos to bulldozers in Beijing, analysts are looking creatively at ways to measure the strength of emerging market economies where official data sometimes comes up short.
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Nothing offends a Chinese employee more than cancelling the annual lunar new year party – a rare chance to eat, drink and win a free iPad or iPhone, courtesy of the boss. The Financial Times reports.
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SINGAPORE/ TOKYO, Feb 1- Iran's crude exports to its biggest customer, Asia, fell by a quarter in 2012 and shipments this year are expected to drop by at least 12 percent under U.S. sanctions pressure, but ample alternative supplies will keep refiners flush with oil. From Asia, Iran lost $14 billion worth of oil exports for the year, according to Reuters calculations.
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Jan 31- Schlumberger Ltd, the world's largest oilfield services company, said on Thursday it would wind down operations in Iran this year after booking $208 million in net income there in 2012..
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LONDON, Jan 31- OPEC crude oil output has fallen in January to its lowest in more than a year as Iranian exports dipped from December's unexpectedly high rate and top exporter Saudi Arabia cut output further, a Reuters survey found on Thursday.
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LONDON, Jan 31- Trafigura relies on Africa for almost a quarter of its revenues, the commodities giant has revealed, highlighting one of the highest risk appetites in the industry as it prepares to float a chunk of business. Trafigura told its bond holders Africa generated $29 billion worth of revenues in 2012 out of a total of $120 billion.
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"I wouldn't read too much into it," said Carsten Fritsch, an oil analyst at Commerzbank in Frankfurt, adding he expected oil prices to make further gains this week. Brent slipped 23 cents to $114.67 a barrel by 1452 GMT, after earlier hitting $115.25, the highest since Oct. 16.
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*Sees 2013 profit of $9.25- $9.75/ share vs $9.17 estimate. Jan 31- Whirlpool Corp reported a higher-than-expected quarterly profit and gave a strong outlook for 2013 on Thursday as price increases and cost cuts helped the world's largest appliance maker counter lackluster demand in Europe and North America.
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NEW YORK-- Colgate-Palmolive Co. said Thursday its fourth-quarter net income rose 1 percent on higher prices and cost cuts. The maker of Colgate toothpaste and Palmolive dish soap said that for the three months ended Dec. 31, net income came to $598 million, or $1.26 per share, from $590 million, or $1.21 per share the year before.
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"I wouldn't read too much into it," said Carsten Fritsch, an oil analyst at Commerzbank in Frankfurt, adding he expected oil prices to make further gains this week. And we have these ongoing supply risks in the Middle East and North Africa, with more and more countries coming into the spotlight, like Algeria and Egypt. "