According to industry and government sources, and letters reviewed by Reuters, Essar has asked the Indian government to free it from paying its share of oil dues to Iran, and instead offset them against a $2.5 billion deal to supply steel plate to a NIOC affiliate. The back-to-back scheme comes to light at a critical stage in talks between Iran and six world powers...» Read More
BERLIN-- Greece will run out of money at the end of November if it doesn't receive the next planned installment of its bailout loans, the country's prime minister has said. Greece has relied on bailouts from increasingly impatient international creditors since May 2010.
WASHINGTON-- With President Barack Obama knocked off stride and the election looming, the government is issuing new unemployment data likely to underscore the slow economic recovery and ensure that jobs remain the top issue of the presidential campaign.
WASHINGTON-- With a month to go until the presidential election, the government on Friday issues its September jobs report, expected to show an uptick in the U.S. unemployment rate after employers added only a modest number of jobs. The Labor Department issues the jobs report at 8:30 a.m. EDT.
TOKYO-- Japan's central bank has ended its latest policy meeting Friday with no changes in its key interest rate or asset buying program, resisting government pressure for further easing. The Bank of Japan said in a statement Friday that it expected the world's third-largest economy to "level off" for now, with inflation at about 0 percent.
Japan's Nikkei 225 index was 0.2 percent higher to 8,844.93 after the Bank of Japan announced no change in the country's key interest rate following a two-day policy meeting. Benchmarks in Singapore, Indonesia and New Zealand rose.
By early afternoon in Europe, benchmark oil for November delivery was down 70 cents to $91.01 a barrel in electronic trading on the New York Mercantile Exchange. On Thursday, tensions between Syria and Turkey gave oil prices their biggest jump in two months. Oil settled at $91.71 per barrel, up by $3.57, or 4 percent, in New York.
On the sideline of the summit, French President Francois Hollande said it was up to Spain, not the European Union, to determine whether Spain requires financial assistance from Europe to solve its serious financial difficulties.
TALLADEGA, Ala.-- Tony Stewart insisted he wasn't trying to poach a sponsor when he approached Bass Pro Shops about an opportunity to join his race team. The three-time NASCAR champion has a long relationship with Bass Pro founder Johnny Morris, and knew the contract with Earnhardt Ganassi Racing expired at the end of this season.
CALIFORNIA CRUNCH: Californians woke up to a shock Friday as overnight gasoline prices jumped by as much as 20 cents a gallon. SUPPLIES DRY UP: In many areas, prices have jumped 40 cents in a week as refinery problems have created shortages and helped send wholesale prices soaring.
TOKYO-- Japan's central bank has ended its latest policy meeting with no change in the country's key interest rate, resisting government pressure for further easing. The Bank of Japan said in a statement Friday that it expected the world's third-largest economy to "level off" for now, with inflation at about 0 percent.
BOZEMAN, Mont.-- A Japanese pharmaceutical company is acquiring Bozeman- based LigoCyte Pharmaceuticals in a $60 million deal to expand its vaccine division, Takeda Pharmaceutical Co. announced.
GROUNDED: India's Kingfisher Airlines has extended its shutdown and won't fly any planes for another week unless it can convince pilots and engineers who haven't been paid for months to return to work.
FAIRFAX, Va.-- President Barack Obama celebrated much-needed good economic news Friday as the unemployment rate dropped to its lowest level since he took office. " Republican rival Mitt Romney retorted the president still hasn't done enough to help millions of people who are out of work.
WASHINGTON-- Chinese artist Ai Weiwei, who helped design Beijing's Olympic Stadium and has since drawn tough scrutiny for his political activism, is opening the first North American retrospective exhibition of his work in Washington.
MUMBAI, India-- India's Kingfisher Airlines has extended its shut-down and won't fly any planes for another week, unless it can convince pilots and engineers who haven't been paid for months to return to work. India's airline regulator is worried about safety standards because engineers are on strike and can't certify that the planes are safe to fly.
ABC has the highest amount, with 10 out of 194, or 5.2 percent, of their regular characters identified as LGBT. CBS was saluted as much improved, with four out of 142 LGBT series regulars, or 2.8 percent, up from 0.7 percent last year.
TALLADEGA, Ala.-- Jeff Gordon and Hendrick Motorsports announced a contract extension Thursday through 2014 with sponsor AARP and AARP Foundation. Gordo, a four-time NASCAR champion, has helped deliver food to food banks and actively supported the cause since partnering with the campaign.
HOUSTON-- The Houston Astros say they'll have a new radio broadcast team next season. In a statement issued Thursday, the Astros say they've begun a search for a successor to veteran broadcaster Milo Hamilton, who announced that 2012 would be his last season as lead play-by-play announcer.
NEW YORK-- Teams from 16 conferences in 172 games are on CBS Sports Network's schedule for 2012-13.. The first games shown will be from the Paradise Jam in St. Thomas, Virgin Islands with Connecticut, and first-year coach Kevin Ollie, facing Wake Forest and UIC against New Mexico.