3xwy Blog

AP – An Australian executive and three other employees of mining giant Rio Tinto went on trial Monday on charges of stealing secrets and offering bribes in a case viewed as a barometer of China’s handling of foreign business.

The Christian Science Monitor – Americans feel something seismic about to happen this weekend in Washington as Congress takes up a massive healthcare reform bill that will rejigger one-sixth of the US economy.

Reuters – Republicans in the House of Representatives on Friday recommended the country’s two mortgage finance giants be phased out in four years in an effort to restore stability to the housing market.

Pakistan indicted five American Muslims on Wednesday on terrorism charges. The young men from the Washington, D.C., area say they were on their way to Afghanistan on a humanitarian mission when they were arrested in Pakistan.

Reuters – The Canadian dollar tipped lower against the U.S. currency on Monday as easing oil prices and lower stock markets caused investors to pause for the first time after an 11-day stretch of gains.

AP – Consol Energy Inc. said Monday it agreed to buy Dominion Resources Inc.’s Appalachian exploration and production business for $3.475 billion, substantially increasing its natural gas reserves and production capacity.

Reuters – The euro zone has agreed a multi-billion euro bailout for heavily indebted Greece as part of a package to support the euro, the Guardian newspaper reported on Saturday.

AP – After more than a year of bids and counterbids, CF Industries landed Terra Industries on Friday for $4.7 billion, creating a giant fertilizer company.

Reuters – Switzerland’s UBS has warned parliamentarians failure to back a deal to end its bitter U.S. tax row with the bank could result in a damaging backlash for Swiss banks as well as the Alpine nation’s economy.

AP – World oil demand will rise this year due to surging economic activity in Asian countries, especially China, the International Energy Agency said Friday as it bumped up its forecasts.