Teck to sell 17 percent stake to China for C$1.74 billion
TORONTO (Reuters) - Teck Resources said on Friday it will sell a 17.2 percent equity stake to state-owned China Investment Corp in a deal that will help the Canadian miner pay down its debt while expanding China’s portfolio of commodity investments.
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Teck to sell 17 percent stake to China for C$1.74 billion
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Stanford clients sue insurance broker Willis Group
NEW YORK (Reuters) - Several Mexican clients of Stanford Financial Group have sued insurance broker Willis Group Holdings Ltd , contending it was a willing participant in a $7 billion fraud at the Texas-based investment company.
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Communities bug out over cuts to mosquito control
Millions of mosquito eggs laid across southern Texas after Hurricane Ike hit the coast last summer are waiting for the little bit of rain and hot summer days they need to hatch. That’s got the man whose job it is to fight the bugs worried _ he’s already…
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Woods to play exhibition to help Begay charity
Tiger Woods is helping out longtime friend Notah Begay III, agreeing to play in his charity Skins Game at Turning Stone Resort next month to support Native American youth. Begay declined to comment and kept his head down when asked if Woods was playing in his…
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Report: Turkoglu agrees to terms with Blazers
Hedo Turkoglu reportedly agreed to join the Portland Trail Blazers after helping Orlando reach the NBA finals this season. ESPN.com on Friday cited unidentified sources and did not disclose terms. Turkoglu’s agent, Lon Babby, did not immediately return calls…
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Cummins reopening Ind. plant, while another closes
Cummins Inc. is recalling 400 laid-off workers as it resumes production at a Columbus factory, while nearly 300 people lost their jobs as an auto parts company idled a plant in nearby Shelbyville. Cummins is preparing to resume production of the Dodge Ram…
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Canada finance minister says unemployment to rise
Canada’s finance minister said Friday that the country’s economic recovery will likely be modest and job losses will mount into 2010 even after growth has begun. Jim Flaherty gave his most recent, sobering assessment of economic prospects in a conference call…
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SC residents mixed over fate of cheating gov
After a week that offered the world a glimpse into the conflicted mind of philandering South Carolina Gov. Mark Sanford, his constituents differed Friday on whether he should leave office. Some said the decision should be up to his wife, Jenny. And it’s a…
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Las Vegas woman charged in daughter’s drowning
A 23-year-old woman has been arrested and charged in the drowning of her 5-year-old daughter. Las Vegas police say Raven Gibbons was booked Thursday into the Clark County Detention Center on charges of murder in the second degree and child neglect with…
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Airline BA to cut capacity, delay new planes
British Airways PLC announced Friday it will ground aircraft, slash seat numbers and postpone taking delivery of a dozen new Airbus A380 superjumbos as it faces a recession-driven decline in passengers. The airline said it carried 2.93 million passengers in…
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HealthSouth accuses Scrushy of hiding assets
HealthSouth Corp. is accusing fired chief executive Richard Scrushy of hiding money in offshore bank accounts and transferring assets out of his name to avoid paying court judgments. Documents filed Thursday by the Birmingham-based rehabilitation chain claim…
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Myanmar denies UN chief’s request to see Suu Kyi
U.N. Secretary-General Ban Ki-moon could leave Myanmar empty-handed after apparently failing to win any concessions Friday from the country’s top military ruler or to gain permission to visit opposition leader Aung San Suu Kyi in jail. Ban talked for two…
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Unions say Oracle plans job cuts in Europe
French unions for the software company Oracle Corp. say the company has told them it plans to cut between 850 and 1,000 jobs in Europe in response to slowing growth. In a joint statement, five of the Redwood Shores, Calif.-based company’s French unions said…
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Tropicana Las Vegas emerges from bankruptcy
Tropicana Las Vegas has emerged from Chapter 11 bankruptcy with new owners. Toronto-based Onex Corporation and former MGM Mirage President Alex Yemenidjian acquired a majority stake in the Las Vegas hotel-casino this week, as it completed its yearlong…
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Dollar status unlikely to be in G8 communique: G8 source
(Reuters) - The dollar’s status as the top global reserve currency is unlikely to be mentioned explicitly in the final communique at next week’s Group of Eight summit, a European G8 source involved in preparations for the meeting said on Friday.
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