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Russian: Won't halt Arctic oil hunt

posted: 09/30/2014 1:52 a.m. Discuss

MOSCOW -- The most powerful man in Russia's oil industry said U.S. sanctions won't prevent the development of discoveries in the Arctic Ocean.

Solar plane to take flight around globe

posted: 09/29/2014 1:53 a.m. Discuss

DUBAI, United Arab Emirates -- A Swiss-made solar-powered aircraft will start and attempt to finish its first round-the-world flight from the United Arab Emirates capital of Abu Dhabi, a government-backed renewable energy company in the oil-rich Gulf federation said Thursday.

Mexico oil industry loses billions as drug gangs tap into pipelines

posted: 09/28/2014 2:13 a.m. Discuss

As Mexico works to develop rich shale oil fields along its Gulf Coast and attract foreign investors, it faces a challenge posed by the brutal drug gangs that are stealing billions of dollars’ worth of oil from pipelines.

China's farms, industry vie for water as drought deepens

posted: 09/28/2014 2:06 a.m. Discuss

The corn has grown to only half its normal height on Yan Shuqin's ranch in the hills of Inner Mongolia this year, as a swath of northern China suffers its worst drought in 60 years.

Europe aviation agency says electronics allowed

posted: 09/27/2014 1:50 a.m. Discuss

Passengers on European airlines will soon be able to use portable electronics including cellphones and tablet computers any time during flights, under new safety guidelines issued Friday.

Business news in brief

posted: 09/27/2014 1:44 a.m. Discuss

Berlin court upholds city's ban on Uber LONDON -- A Berlin court Friday upheld a ban imposed on Uber, the ride-sharing service, that had barred it from operating in the German capital.

China sales climbing, GM says

posted: 09/25/2014 2:21 a.m. Discuss

General Motors Co. expects its sales in China this year to top 3.1 million vehicles and sees no effect on business from an anti-monopoly investigation of the industry, the president of the automaker's China unit said Wednesday.

Banker peeks at Venezuela's gold

posted: 09/25/2014 2:17 a.m. Discuss

Francisco Rodriguez, an economist with Bank of America Corp., was at a routine meeting with Venezuelan central bank officials last week when he sprung an unusual question on them: Can you show me your gold?

Business news in brief

posted: 09/25/2014 2:12 a.m. Discuss

BP is told it can't recoup spill payouts NEW ORLEANS -- BP wants its money back -- hundreds of millions of dollars of it -- but a federal judge said Wednesday that the oil giant must keep its promises to the companies it compensated for losses they blamed on the 2010 Gulf oil spill.

Burger King partner: Undeterred

posted: 09/24/2014 2:22 a.m. Discuss

Burger King Worldwide Inc.'s deal to buy Tim Hortons Inc. and move its address to Canada will proceed, a company spokesman said Tuesday, a day after the U.S. Treasury Department announced plans to crack down on corporate inversions.

Regulators fine U.K. bank $61.6 million

posted: 09/24/2014 2:19 a.m. Discuss

British regulators fined Barclays investment bank about $61.6 million for failing to properly segregate billions of dollars in client assets, potentially putting them at risk if the bank were ever to become insolvent.

Market report: Stocks slip again on global misery

posted: 09/24/2014 2:10 a.m. Discuss

Grim economic news from Europe and airstrikes in Syria rattled global stocks Tuesday.

Business news in brief

posted: 09/24/2014 2:08 a.m. Discuss

Cadillac to move headquarters to NYC DETROIT -- The Cadillac luxury brand will move its headquarters to New York next year to get closer to those living lives of luxury.

U.K.'s Tesco faces investors' backlash on overstated profits

posted: 09/23/2014 1:52 a.m. Discuss

LONDON -- Tesco's overstatement of its first-half profit estimate sparked anger Monday among investors in Britain's largest grocer and the world's second-largest supermarket chain after Wal-Mart, with one calling for heads to roll for "crass incompetence."

European central bank chief says recovery is fading

posted: 09/23/2014 1:51 a.m. Discuss

FRANKFURT, Germany -- European Central Bank head Mario Draghi defended the bank's new stimulus programs Monday as he warned that the weak economic recovery in the eurozone "is losing momentum."


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