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Catastrophe

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  • SEOUL, May 19- South Korean President Park Geun-hye formally apologized on Monday for a ferry disaster last month that killed about 300 passengers, mostly school children, and said she would break up the coast guard because it had failed in its rescue mission. Eighteen people remain missing after South Korea's worst civilian maritime disaster in 20 years.

  • NAIROBI, May 16- Several people were injured on Friday when at least one explosion rocked a market in the Kenyan capital Nairobi, the country's National Disaster Operations Centre said. "Explosion occurred in the vicinity of the Gikomba market. Emergency vehicles have been dispatched, "NDOC said on its official Twitter handle.

  • *Congress faces worst-ever result, Rahul Gandhi may lose seat. NEW DELHI, May 16- Opposition candidate Narendra Modi will be the next prime minister of India, with counting trends showing the pro-business Hindu nationalist and his party headed for the most resounding election victory the country has seen in thirty years.

  • ISTANBUL, May 16- The death toll in this week's mining accident in western Turkey is unlikely to be more than 302 people, Turkey's Energy Minister Taner Yildiz said on Friday.

  • *Congress faces worst-ever result, Rahul Gandhi may lose seat. NEW DELHI, May 16- Opposition candidate Narendra Modi will be the next prime minister of India, with counting trends showing the pro-business Hindu nationalist and his party headed for the most resounding election victory the country has seen in thirty years.

  • *Africa launches its first sovereign risk insurance pool. *Climate change seen major risk to Africa. On May 1, Africa launched its first sovereign risk pool insurance scheme, marking a major policy shift in the way climatic events such as droughts, and from next year floods, will be tackled by the world's poorest continent.

  • OSLO, May 15- The El Nino weather phenomenon that is likely to strike this year damages world maize, rice and wheat yields but boosts soybeans, according to a study on Thursday that could help farmers plan what to grow.

  • *Coal tops the list for deaths in energy sector. *Coal is also a major polluter. Coal mining is responsible for more fatalities than the production of any other energy source due to poor working conditions in producing countries such as China, Turkey, South Africa, Indonesia and Colombia.

  • *Turkey declares national mourning for three days. SOMA, Turkey, May 14- Rescuers pulled more dead and injured from a coal mine in western Turkey on Wednesday more than 19 hours after an explosion, bringing the death toll to 205 in what could become the nation's worst ever mining disaster.

  • *PM Erdogan cancels trip to Albania after the disaster. ISTANBUL, May 13- An explosion and fire in a coal mine in western Turkey killed at least 151 miners and trapped hundreds more on Tuesday, with the death toll expected to rise in the country's worst mining accident for more than two decades.

  • LONDON, May 9- Central Oklahoma faces a significantly increased risk of a damaging earthquake, and the threat is probably related to oil and gas extraction, the U.S. Geological Survey warned on Monday.

  • ZURICH/ FRANKFURT May 7- Swiss Re and Hannover Re, the world's no. 2 and 3 reinsurers, said they saw lower prices in natural disaster reinsurance and April renewals, as they beat profit expectations in the first quarter. "We are not slaves to volume, and we will certainly not write business to fulfill some top line aspirations," said Swiss Re Chief Executive Michel Lies.

  • NEW YORK, May 2- American Airlines, United Airlines and the World Trade Center leaseholder do not have to pay a property developer environmental cleanup costs from the Sept. 11, 2001 hijacked plane attacks, a U.S. appeals court ruled on Friday.

  • BEIJING, April 21- China may sign as early as next year the first of several contracts for eight new nuclear reactors from Westinghouse Electric Co, as the government presses ahead with the world's biggest civilian nuclear power expansion since the 2011 Fukushima disaster in Japan.

  • *BP pays billions in compensation but some claims still unpaid. April 18- Four years after the Deepwater Horizon spill, oil is still washing up on the long sandy beaches of Grand Isle, Louisiana, and some islanders are fed up with hearing from BP that the crisis is over.

  • WASHINGTON, April 17- A former 20- year veteran of BP plc who oversaw the company's cleanup efforts from the Deepwater Horizon oil spill will pay more than $224,000 to settle civil charges alleging he used non-public information about the disaster to commit insider-trading, U.S. regulators said on Thursday.

  • SATSUMASENDAI, Japan, April 14- On the main road leading from the Sendai nuclear plant in southern Japan, a construction crew is laying down asphalt to widen the evacuation route in the event of a future disaster.

  • Japan approves energy plan reinstating nuclear power Thursday, 10 Apr 2014 | 8:31 PM ET

    TOKYO, April 11- Japan's Cabinet on Friday approved a new energy policy, reversing the previous government's plans to gradually mothball nuclear power plants following the 2011 Fukushima disaster.

  • SOFTS-Coffee hits 2-year high on drought-led rally Thursday, 10 Apr 2014 | 9:37 AM ET

    LONDON, April 10- Arabica coffee hit a more than two-year high on Thursday, as fears that a drought could severely cut top grower Brazil's output in the coming seasons kept a recent rally intact.

  • *Louisiana jury orders $6 bln damages from Takeda, $3 bln from Eli Lilly. SAN FRANCISCO/ TOKYO, April 8- Takeda Pharmaceutical Co Ltd said it would contest $6 billion in punitive damages imposed by a U.S. federal jury in a case alleging that Japan's largest drugmaker had concealed cancer risks associated with its Actos diabetes drug.