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Business - Herbalife to pay $15 million to settle class action lawsuit

By Devika Krishna Kumar (Reuters) - Herbalife Ltd would pay $15 million to settle an 18-month battle over a class action lawsuit brought by a former distributor claiming that the nutrition and supplements company is running an alleged pyramid scheme, according to a U.S. court filing. The company would pay $15 million in cash, plus up to $2.5 million for product returns, according to the court filing that granted preliminary approval for the settlement on Friday. ...

Saturday, November 01, 2014  01:22


Business - German pilots won`t strike during negotiations with Lufthansa: Focus

FRANKFURT (Reuters) - German pilots` union Vereinigung Cockpit (VC) will abstain from industrial action during negotiations with airline Lufthansa over pay and early retirement benefits, Germany`s Focus magazine reported. A dispute between Lufthansa and the union has resulted in repeated strikes at Lufthansa this year affecting thousands of passengers. Shares in Lufthansa have lost 15 percent of their value over the last three months due to the strikes as well as concerns over Ebola. `We are currently in talks with Lufthansa. ...

Saturday, November 01, 2014  12:16


Sports - Donaldson fires 62 in Shanghai but Levy won`t break

Ryder Cup hero Jamie Donaldson fired a stunning 10-under par 62 in the third round of the BMW Masters in Shanghai Saturday but still found himself four shots behind runaway leader Alexander Levy. The Frenchman dominated for a third day, returning a nine-under card of 63 to follow his 65 and 66 in the opening two rounds to stand at 22 under par with 18 holes left Sunday in the $7 million European Tour flagship event. Germany`s Marcel Siem moved into third on his own after a 65, but is five back from Levy on 17 under. Another Ryder Cup star Justin Rose is two shots further away on 15-under even though he fired in a sublime eight-under 64 which he reckoned `could have been five shots better`.

Saturday, November 01, 2014  11:57


World - Kuwait emir in Saudi amid oil row

Kuwait`s emir, Sheikh Sabah al-Ahmad al-Sabah, held talks in Saudi Arabia on Tuesday with King Abdullah during a visit overshadowed by a row between the two Gulf neighbours over a shared offshore oilfield. `They discussed aspects of cooperation between the two brotherly countries,` along with regional and international affairs, the official Saudi Press Agency said. Kuwait`s state-run KUNA news agency said the emir headed an official delegation including the foreign minister in a `brotherly visit`, which was previously unannounced. Kuwait on Monday played down the row with Riyadh over its decision to halt production at Khafji oilfield jointly operated by the two Arab countries.

Tuesday, October 28, 2014  21:40


World - Kuwait emir heads for Saudi amid oil row

Kuwait`s emir, Sheikh Sabah al-Ahmad al-Sabah, left Tuesday for Saudi Arabia on a previously unannounced visit overshadowed by a row between the two Gulf neighbours over a shared offshore oilfield. Kuwait on Monday played down the row with Riyadh over its decision to halt production at Khafji oilfield jointly operated by the two Arab countries.

Tuesday, October 28, 2014  20:27


Business - RBS takes $640 million forex charge and warns of more to come

By Matt Scuffham LONDON (Reuters) - State-backed Royal Bank of Scotland has set aside 400 million pounds ($640 million) to cover potential fines for manipulating currency markets and warned further charges for past misconduct would continue to hit its profits. RBS, 80 percent owned by the British government following a 45 billion pound bailout during the financial crisis of 2007 to 2009, on Friday joined other big rivals in signaling it is close to agreeing settlements over alleged manipulation of the $5.3 trillion-a-day foreign exchange market. ...

Friday, October 31, 2014  10:44


Business - Raymond James reports strongest recruiting year since 2009

By Elizabeth Dilts NEW YORK (Reuters) - Brokerage and investment bank Raymond James Financial Inc just completed its best broker recruiting year since 2009, the firm reported on Thursday. The firm added a net of 68 U.S.-based advisers in the fiscal year ending Sept 30, 2013, bringing the total to 6,265 advisers. Actual recruitment was far higher, but many new hires were offset by brokers retiring and moving to other firms, said Paul Shoukry, Raymond James` vice president of finance and investor relations. ...

Thursday, October 30, 2014  18:00


World - German court jails serial `Autobahn shooter` for 10 years

A German court jailed a truck driver for 10 and a half years Thursday for attempted murder for shooting more than 700 times at other motorists from behind the wheel. The 58-year-old identified as Michael Harry K. was described by prosecutors as a `frustrated loner`, who wanted to teach other road users a `lesson`. He was found guilty of four counts of attempted murder and other charges over the shooting spree that lasted around five years, a court spokesman said after the trial. The shootings, which left several people injured, began at the latest in 2009 and mostly hit other trucks` loads but in some cases drivers` cabs and cars, the district court in the Bavarian city of Wuerzburg heard.

Thursday, October 30, 2014  16:29


World - Mozambique elects Nyusi as new president

Filipe Nyusi of the governing Frelimo party has been elected Mozambique`s next president, the National Electoral Commission said Thursday, giving final results. The commission reported a victory for the former defence minister, who garnered 57 percent of the vote, in presidential and legislative elections in the southern African nation two weeks ago. Nyusi`s nearest rival, Afonso Dhlakama of the former rebel Renamo party, won 37 percent -- well up on the 16 percent he won in 2009. President Armando Guebuza was constitutionally barred from seeking re-election for a third term.

Thursday, October 30, 2014  15:52


World - Romania`s Ponta heads for presidency with justice in spotlight

By Matthias Williams and Radu-Sorin Marinas OPTASI-MAGURA Romania (Reuters) - Romanians are likely to move Prime Minister Victor Ponta into the presidency in elections that start on Sunday, offering one of Europe`s poorest countries political stability but raising concerns about judicial independence. Backed by a well-oiled party machine, Ponta has led opinion polls in the run-up to the Nov. 2/16 vote, trumpeting a record of easing the painful spending cuts and tax hikes Romanians endured in a 2009-10 recession. A Ponta win would consolidate his leftist Social Democrats` hold on power. ...

Thursday, October 30, 2014  05:52

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