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Nigeria:Peace at risk in oil heartlands


The Nigerian government’s efforts to secure peace in the oil heartlands of the Niger Delta are empty promises, community leaders say, threatening a return to violence that would derail any broader recovery in the crude-dependent economy. With Africa’s biggest economy mired in recession, delegations including Acting President Yemi Osinbajo have held talks since February with community leaders in the restive ...

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Pakistan orders Shell subsidiary to pay $2.4 million for tanker blast

A general view of the scene of an oil tanker explosion in Bahawalpur, Pakistan June 25, 2017. REUTERS/Stringer

Pakistan’s oil and gas regulator on Friday ordered a subsidiary of Royal Dutch Shell to pay about 257 million rupees ($2.4 million) in damages and compensation for a tanker explosion that killed more than 200 people. The Oil and Gas Regulatory Authority (OGRA) has held Shell Pakistan Ltd (SPL) responsible for the blast in Punjab province on June 25 after ...

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Europe: Boeing delivers fewer planes in second quarter

A Boeing 737 MAX is seen on the static display, before the opening of the 52nd Paris Air Show at Le Bourget airport near Paris, France, June 16, 2017. REUTERS/Pascal Rossignol

Boeing Co (BA.N) said on Friday it delivered 183 jetliners in the second quarter, down from 199 a year earlier. The company delivered 123 of its single-aisle 737s in the latest quarter, compared with 127 in the same period a year ago. Deliveries of its 787 Dreamliners fell to 33 in the three months ended June, from 38. The world’s ...

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Asia: Toshiba under pressure to consider ‘Plan B’ as chip sale falters: sources

FILE PHOTO- A logo of Toshiba Corp is seen on a printed circuit board in this photo illustration taken in Tokyo July 31, 2012. REUTERS/Yuriko Nakao/File Photo

As the $18 billion sale of Toshiba Corp’s memory chip unit to a government-approved consortium falters, some bankers and potential investors are pressing the board to seriously consider alternatives, people with direct knowledge of the sale process said – including picking a new buyer. Those people say Toshiba’s leadership is sticking to Plan A: selling the world’s second-largest memory chip ...

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Europe: Deutsche Bank sees progress toward IPO of asset management arm: memo

A Deutsche Bank logo adorns a wall at the company's headquarters in Frankfurt, Germany June 9, 2015. REUTERS/Ralph Orlowski/File Photo

Deutsche Bank (DBKGn.DE) said that it is making progress in its planned partial initial public offering (IPO) of its asset management unit, according to a recent memo to staff. Germany’s largest lender announced its plans for a partial IPO of the unit in March as part of a broader restructuring of the bank reeling from law suits and trading scandals. ...

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U.S. job growth accelerates in June, wages continue to lag

FILE PHOTO: Leaflets lie on a table at a booth at a military veterans' job fair in Carson, California October 3, 2014. REUTERS/Lucy Nicholson/File Photo

U.S. job growth surged more than expected in June and employers increased hours for workers, signs of labor market strength that could keep the Federal Reserve on course for a third interest rate hike this year despite sluggish wage gains. Non-farm payrolls jumped by 222,000 jobs last month, driven by hefty gains in healthcare, government, restaurants and professional and business ...

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U.S: Buffett bets big on power infrastructure with $9 billion Oncor deal

Berkshire Hathaway CEO Warren Buffett waits to play table tennis during the Berkshire Hathaway annual meeting weekend in Omaha, Nebraska, U.S. May 7, 2017. REUTERS/Rick Wilking

Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) said on Friday it would pay $9 billion to pick up the parent of Texas power transmission company Oncor Electric Delivery Co from bankruptcy, stepping up its pursuit of steady returns in utilities. If the all-cash deal is approved by a bankruptcy judge and Texas regulators, it will hand Berkshire ownership of one of ...

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Algeria to Give Legal Status to African Migrants


Algeria plans to grant residency rights and job permits to illegal African migrants amid a shortage of workers in farming and construction and after a surge in racist sentiment across the country. Prime Minister Abdelmadjid Tebboune’s plan follows the launch of an anonymous online campaign that blames African migrants for taking jobs and spreading the HIV virus that causes Aids. ...

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Toyota unit fights Kenyan buyers’ vehicle defect suit


Toyota’s financing arm Tsusho Capital has denied receiving any complaints on mechanical defects affecting 45 Hino buses it sold to 11 companies and individuals. The buyers have lodged a product liability claim against it, its sister companies and the Kenya Bureau of Standards (Kebs). Tsusho claims that only one buyer, Martin Mwangi Njoki, among those listed in the suit, raised ...

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