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World - Halal beef supplier vows to contest fraud charges

CEDAR RAPIDS, Iowa (AP) A food supplier and its executives will contest criminal charges alleging they falsely marketed beef products to Muslims around the world as meeting strict halal standards.

Monday, December 15, 2014  21:31


World - US says halal food supplier misled Muslims on beef

CEDAR RAPIDS, Iowa (AP) A food supplier for several years falsely marketed beef to Muslims around the world as meeting strict halal standards, exporting products that weren`t slaughtered in accordance with Islamic law, federal prosecutors allege in a major fraud indictment.

Monday, December 15, 2014  19:42


World - Uphill battle to tackle Indonesian shark fishing

Sharks are hauled ashore every day at a busy market on the central Indonesian island of Lombok, the hub of a booming trade that provides a livelihood for local fishermen but is increasingly alarming environmentalists. Now a Singaporean is luring the fishermen away from Tanjung Luar market, where an array of other sea creatures including manta rays and moray eels are also sold, by offering them jobs as local guides for the growing number of tourists visiting the island. `The whole dream is that there`s enough tourists coming, not on a daily basis because the corals would be affected, but maybe on a weekly basis,` said Kathy Xu, a former teacher who gave up her job to focus on the project. On a recent visit by AFP to Tanjung Luar, 10 sharks were laid out on the dirty tiled floor before being auctioned off, but an environmental group said on a busy day up to 300 are brought to the market.

Wednesday, December 17, 2014  06:00


Business - Market Radar: Volatility Reigns

Crude oil continued its slide overnight and a surprise interest rate hike by Russia in an effort to stabilize the falling Rouble which has been hard pressed in the wake of oil`s recent losses, had the U.S. markets poised for another down day. Oil reversed course in the late morning bouncing the equity markets off their lows and even into positive territory before sentiment turned negative again driving the markets to a lower close.

Tuesday, December 16, 2014  22:51


Business - Europe shakes off doubts before U.S. jobs data

By Marc Jones LONDON (Reuters) - Worries over spluttering growth and a downturn in commodity markets put global stock markets on course for their first weekly decline in a month on Friday, although European shares reclaimed some of the ground they had lost on Thursday. After another frenetic week for financial markets, investors were trying to catch their breath before U.S. jobs data at 8:30 a.m. ET. Economists polled by Reuters expected it to show 230,000 new jobs were added last month and the unemployment rate was unchanged at 5.8 percent. ...

Friday, December 05, 2014  10:38


Business - Brent falls close to $69 after Saudi price cut

By Libby George LONDON (Reuters) - Brent crude fell close to $69 a barrel on Friday, putting it on track for a second weekly decline, as cuts to official selling prices from Saudi Arabia reverberated across the market. Some analysts said the Saudi cuts to monthly prices for crude it sells to the United States and Asia show it is stepping up its battle for market share a week after refusing to support OPEC output cuts. `It`s been weighing on the market, showing that OPEC is not ready to end its price war,` said Commerzbank analyst Eugen Weinberg. ...

Friday, December 05, 2014  10:02


Business - Oil rebounds 1 percent after sharp losses; U.S. data supports

By Florence Tan SINGAPORE (Reuters) - Oil rebounded more than 1 percent on Wednesday, with Brent rising above $71 a barrel, recouping some of its losses from the previous session as a turbulent market struggled to find a price floor. The market has swung through sharp gains and losses since OPEC announced last week that it would maintain steady output in an oversupplied market. Brent and U.S. crude are down more than 30 percent since June and touched five-year lows on Monday. Brent crude hit a high of $71.46 a barrel on Wednesday after falling $2 in the previous session. ...

Wednesday, December 03, 2014  02:54


Business - Oil steadies near four-year low as glut looms after OPEC

By Ahmed Aboulenein LONDON (Reuters) - Brent crude oil steadied above $73 a barrel on Friday after hitting a fresh four-year low in the wake of OPEC`s decision not to cut output, a move investors said would leave oil markets heavily oversupplied. Saudi Arabia blocked calls on Thursday from poorer members of the Organization of the Petroleum Exporting Countries for output reductions, triggering a rout in oil markets that sent Brent down more than $5 a barrel. `We are seeing continued oversupply,` said Bill Hubard, chief economist at `I think $70 a barrel will be the new norm. ...

Friday, November 28, 2014  16:40


Business - Brent holds above $70 in turbulent oil market

By Florence Tan SINGAPORE (Reuters) - Brent held above $70 a barrel on Wednesday, recovering slightly from losses in the prior session as a turbulent market struggled to find a price floor. The market has swung between sharp gains and losses since OPEC said last week that it would maintain steady output in an oversupplied market. Brent and U.S. crude are down more than 30 percent since June and touched five-year lows on Monday. Brent hit a high of $71.46 a barrel before trading up 13 cents at $70.67 by 0731 GMT (02:31 a.m. EST), after falling $2 on Tuesday. U.S. crude was at $67. ...

Wednesday, December 03, 2014  08:02


Business - Oil tumbles after brief rebound; Brent back below $60

By Barani Krishnan NEW YORK (Reuters) - Global crude oil prices slumped anew on Thursday, a day after a short-covering rally, as traders placed fresh bets the market would resume a six-month rout on worries about a supply glut. Benchmark Brent and U.S. crude tumbled $2 a barrel each in late trading after initially extending Wednesday`s short-covering, which lifted oil prices by more than $3. With Brent back below the psychologically-key level of $60 a barrel and U.S. crude under $55, traders braced for more selling in a market that has lost about half its value since June. ...

Thursday, December 18, 2014  20:31

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