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  • MOSCOW, May 2- Russian oil and gas condensate production, among the world's largest, remained at a post-Soviet record level of 10.71 million barrels per day in April, underpinned by a recent recovery in oil prices, Energy Ministry data showed on Saturday. So far Russia, which is not an OPEC member, has failed to persuade OPEC to cut oil output in order to prop up prices.

  • BAKU, May 2- The Asian Development Bank said on Saturday that it was ready to work with the China-led Asian Infrastructure Investment Bank so long as standards were met, while also announcing changes to boost its own lending capacity by billions of dollars. China has said 57 countries have signed up to become founding members of the AIIB, but so far the United...

  • BAKU, May 2- The Asian Development Bank will ensure that safeguards are upheld in future cooperation with the China-led Asian Infrastructure Investment Bank, ADB President Takehiko Nakao told a media conference on Saturday. "ADB is happy to cooperate, including co-financing, with the AIIB," Nakao said at the start of the multilateral lender's annual meeting of...

  • PERTH, May 2- Foreign investors who illegally buy houses in Australia and agents that enable them face hefty fines and prison terms of up to three years under new penalties announced on Saturday aimed at cooling soaring property prices. "We want to ensure that illegal foreign investment is not unnecessarily driving up prices," Prime Minister Tony Abbott told...

  • May 1- Hard Rock Hotel& Casino Las Vegas said on Friday a malware attack may have allowed hackers to steal credit card information used at its retail and service locations. The attack, discovered on April 3, was limited to credit or debit card transactions between Sept. 3, 2014 and April 2, 2015, at the company's restaurant, bar and retail locations, including the...

  • OMAHA, Neb., May 1- Warren Buffett's Berkshire Hathaway Inc on Friday said first-quarter profit rose 10 percent, and operating results easily beat forecasts, boosted by its railroad and insurance businesses and gains from derivatives. Net income for the Omaha, Nebraska- based insurance and investment conglomerate rose to $5.16 billion, or $3,143 per share, from...

  • ORANGE, Calif./ PHILADELPHIA, May 1- The Federal Reserve could well raise interest rates as soon as June, two top U.S. central bankers said on Friday, so long as economic data strengthens as expected from a dismal first quarter. The key, both Loretta Mester, president of the Cleveland Fed, and John Williams, president of the San Francisco Fed, said, is that by a quirk of the...

  • May 1- TransCanada Corp, Canada's second largest pipeline operator, reported a 10 percent rise in comparable earnings, helped by the positive impact of a stronger U.S. dollar on its U.S. pipeline operations and profits at its power businesses. TransCanada, the company behind the C $8 billion Keystone XL and C $12 billion Energy East pipelines, also said demand for...

  • OMAHA, Neb., May 1- Warren Buffett's Berkshire Hathaway Inc on Friday said first-quarter profit rose 10 percent, and operating results easily beat forecasts, boosted by its railroad and insurance businesses and gains from derivatives. Net income rose to $5.16 billion, or $3,143 per share, from $4.71 billion, or $2,862, a year earlier. Quarterly operating profit...

  • NEW YORK, May 1- U.S. authorities said on Friday that a unit of Express Scripts Holding Co will pay $60 million to resolve claims that it participated in a kickback scheme with Novartis AG to boost sales of a drug that led to improper government reimbursements. Specialty pharmacy Accredo Health Group Inc has agreed to pay $45.1 million to the federal government...

  • NEW YORK, May 1- New U.S. and Canadian speed limits for oil trains will do little to temper the likelihood and severity of explosive accidents that have grown in frequency over the past two years, critics of new regulations said on Friday. Walking a line between increasing safety and keeping oil shipments moving at a clip on North American rails, regulators...

  • Canada has promised to "harmonize" its regulations with the United States. The decision has angered the North American rail industry, but Transportation Secretary Anthony Foxx said his department believes it will stand up to any legal challenge. The Association of American Railroads, which has lawyers studying the rule, slammed the government for basing its...

  • California port truckers end strike after four days Friday, 1 May 2015 | 5:36 PM ET

    LOS ANGELES, May 1- Southern California port truckers seeking recognition as employees rather than contractors ended a strike of freight-hauling companies on Friday after four days of picketing that drew attention to their cause but did little to disrupt cargo shipments. Several hundred drivers, backed by the Teamsters union, struck four trucking firms...

  • Berkshire Hathaway 1st-qtr profit rises 10 percent Friday, 1 May 2015 | 5:16 PM ET

    OMAHA, Neb., May 1- Warren Buffett's Berkshire Hathaway Inc on Friday said first-quarter profit rose 10 percent, helped by improved results in its BNSF railroad unit, as well as by gains from derivatives. Net income rose to $5.16 billion, or $3,143 per share, from $4.71 billion, or $2,862. Quarterly operating profit increased 20 percent to $4.24 billion, or $2,583 per...

  • WASHINGTON, May 1- The United States and Canada have a 400- page plan to control oil train dangers that walks a thin line: promote safety without stifling a business that has spurred domestic oil production. As with many such contentious issues, calls by regulators to retrofit oil tank cars, reduce speeds and require new braking systems in the continent's...

  • CHICAGO, May 1- Iowa Governor Terry Branstad declared a state of emergency on Friday due to a rapidly expanding avian flu outbreak, soon after state agriculture officials announced four new poultry farms had initially tested positive for the virus. Iowa, the top egg-producing state in the United States, is the third state to declare a state of emergency because...

  • *Iraq exports reach 3.08 million bpd in April. NEW YORK, May 1- Oil prices eased off 2015 highs on Friday after Iraq said its crude oil exports hit a record in April, and on pressure from a stronger dollar. June Brent crude fell 32 cents to settle at $66.46 a barrel, after falling to $65.52 and having earlier matched Thursday's 2015 peak of $66.93.

  • TORONTO, May 1- General Motors Co jumped to the top of the Canadian sales rankings for April as it sold 15 percent more cars and trucks than a year earlier, the company said on Friday, winning a crown usually held by its rivals. "Despite the troubling oil industry in Canada, vehicle companies reported an all-time best April in sales in the Canadian automotive history,"...

  • MONTREAL, May 1- A United Nations civil aviation-led panel on Friday called for improved, fire-resistant packaging to ship lithium batteries, which pilots and plane makers say pose a fire risk. The International Civil Aviation Organization's dangerous goods panel agreed this week to set up a group of experts to develop safer packaging for the transport of...

  • ORANGE, Calif., May 1- U.S. inflation seems to have "firmed," San Francisco Fed President John Williams said Friday, and hopefully is headed back up to the Fed's 2- percent target. The decline in market-based inflation expectations may be more reflective of the decline in oil prices than of a view that inflation is likely to drop, he said at a policy conference at Chapman...