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  • *Iran circulates draft contracts to foreign firms- sources. ANKARA/ LONDON, Feb 2- Iran is sweetening the terms it offers on oil development contracts to draw the interest of foreign investors deterred by sanctions and low crude prices, as its pragmatic president seeks to deliver on his promise of economic recovery. Such deals would involve helping Iran revive...

  • Feb 2- Chinese video-on-demand provider You On Demand Holdings Inc said it would show Twentieth Century Fox movies in China after the two companies signed a licensing agreement. You on Demand's shares soared 44 percent at $2.95 in morning trading. Some of the movies that will be available to You On Demand's subscribers include A-Team starring Bradley Cooper...

  • Feb 2- Exxon Mobil Corp said on Monday its quarterly profit fell 21 percent as weak oil prices took a toll, but results topped Wall Street expectations due to tax benefits and a favorable arbitration ruling. Profit in the fourth quarter fell to $6.57 billion, or $1.56 per share, from $8.35 billion, or $1.91 per share in the same quarter a year earlier.

  • *HSBC/ Markit final PMI level 49.7 vs Dec 49.6. SHANGHAI, Feb 2- Activity in China's factory sector shrank for the second straight month in January, a private business survey showed on Monday, as the new year got off to a rocky start for the world's second-largest economy. "Demand in the manufacturing sector remains weak and more aggressive monetary and fiscal easing...

  • SHANGHAI, Feb 2- Activity in China's factory sector shrank for a second month in January, a private business survey showed on Monday, as the new year got off to a rocky start for the world's second largest economy. A similar survey released by the government on Sunday showed China's factory sector unexpectedly shrank for the first time in nearly 2-1/ 2 years in...

  • BANGKOK, Jan 29- Thai factory output fell less than expected in December as exports rose, but it still dropped for a 21st straight month, a further sign that the economy remains wobbly. The Industry Ministry said output in December fell 0.35 percent from a year earlier, the smallest drop since the string of production shrinkages began in April 2013.

  • Brent crude oil has slid nearly 60 percent since June on ample global supplies and OPEC's decision to keep its production ceiling unchanged. OPEC's largest producer, Saudi Arabia in November refused to cut its output to arrest the price slide and decided instead to focus on market share. Falih said the imbalance in the oil market had nothing to do with Saudi...

  • SINGAPORE, Jan 27- U.S. exports of condensate have been given an important boost after pipeline company Enterprise Products Partners LP agreed annual contracts with at least two major trading companies to sell the light crude, trade sources said. Oil producers have been pressing to lift a 40- year-old U.S. ban on crude exports and the Department of Commerce...

  • WASHINGTON, Jan 26- The U.S. Supreme Court on Monday sided with a company that amended a collective bargaining agreement to force retirees to pay toward healthcare costs, throwing out a lower-court ruling that favored the former employees who objected to the change. On a unanimous vote, the nine-member court handed a win to M&G Polymers USA, a subsidiary of Italy-...

  • WASHINGTON, Jan 26- The U.S. Supreme Court on Monday sided with a company that amended a collective bargaining agreement to force retirees to pay toward healthcare costs, throwing out a lower-court ruling that favored the former employees who objected to the change. On a unanimous vote, the nine-member court handed a win to M&G Polymers USA, a subsidiary of Italy-...

  • MOSCOW, Jan 23- Russian homebuilder PIK Group said on Friday new sales jumped 26.5 percent in the fourth quarter, when the rouble's slide prompted consumers to seek ways of protecting their fast-devaluing savings.

  • HOUSTON, Jan 16- Harvest Natural Resources Inc, a Texas based oil and gas company, said on Friday it has filed an arbitration request against Venezuela before a World Bank tribunal to protect the value of its investment in the South American country. "Having exhausted all alternatives to protect Harvest's shareholders, we are now regrettably forced to exercise...

  • WASHINGTON, Jan 15- The U.S. Navy plans to award contracts before the end of the first quarter to Lockheed Martin Corp and Australia's Austal for its next three Littoral Combat Ships as well as money to buy materials for a fourth, Navy officials said Thursday. Navy acquisition chief Sean Stackley told reporters the Navy was in talks with both companies and...

  • Jan 8- Pioneer Energy Services Corp said it had received early termination notices for contracts for four rigs in the first quarter as oil companies continue to cut capital spending in the wake of plunging oil prices. Brent crude rose 20 cents to $51.35 by 1121 GMT on Thursday. Larger peer Helmerich& Payne Inc said on Wednesday that rates for its high-tech rigs had...

  • Pioneer says four rig contracts terminated Thursday, 8 Jan 2015 | 8:23 AM ET

    Jan 8- Pioneer Energy Services Corp said it received early termination notices for contracts for four rigs in the first quarter, as oil companies continue to cut back on capital spending. The company also said it expected to idle seven more rigs in the next month, with two more going offline by the end of the quarter. Pioneer said it expected 89 percent of its rigs to...

  • NEW YORK, Jan 5- JPMorgan Chase& Co has become the first bank to settle a U.S. antitrust lawsuit in which investors accused 12 major banks of rigging prices in the $5 trillion- a-day foreign exchange market. JPMorgan settled after mediation with Kenneth Feinberg, who also oversees a General Motors Co program to compensate drivers whose vehicles had faulty...

  • LONDON, Dec 31- Asia Resource Minerals said on Wednesday that a Singapore tribunal has ruled that former executive Rosan Roeslani has to repay the company $173 million, plus interest and legal costs, lifting its shares by more than 300 percent. The coal producer, formerly known as Bumi, launched the arbitration in Singapore a year ago to enforce a previous...

  • SHANGHAI, Dec 31- Activity in China's factory sector shrank for the first time in seven months in December, a private survey showed on Wednesday, highlighting the urgency behind a series of surprise easing moves by Beijing in the past two months. The weak performance will add to the debate over whether Beijing needs to roll out more support measures to avert a...

  • China Dec HSBC factory PMI contracts to 7-month low Tuesday, 30 Dec 2014 | 8:45 PM ET

    SHANGHAI, Dec 31- Activity in China's factory sector shrank for the first time in seven months in December, a private business survey showed on Wednesday, highlighting the urgency behind a series of surprise easing moves by Beijing in the past two months. The weak performance will add to the debate over whether Beijing needs to engage in more policy easing or...

  • TRIPOLI, Dec 29- Libya's recognized government has contracted a U.S. firefighter firm to help extinguish fires at storage tanks at the Es Sider oil port, a spokesman said on Monday. The value of the contract was $6 million, the statement said, without naming the company. Fire has been raging for days at several storage tanks at Es Sider, Libya's biggest oil port, due to...