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Madoff liquidation trustee gets $28 million for costs
29 Dec 2008 source: today.reuters.co.uk

By Grant McCool NEW YORK (Reuters) - The Bank of New York Mellon Corp has agreed to transfer $28.1 million from an account of confessed swindler Bernard Madoff's investment firm to pay for liquidation costs, according to court papers. Irving Picard, the trustee of the Securities Investor Protection Corp overseeing the liquidation of Bernard L. Madoff Investment Securities LLC, "is in ...

Dow, Rohm shares fall on concern over deal
29 Dec 2008 source: today.reuters.co.uk

By Michael Erman and Jui Chakravorty Das NEW YORK (Reuters) - Shares of Dow Chemical and Rohm & Haas plunged more than 20 percent on Monday after Kuwait scrapped a joint venture with Dow, potentially upsetting its plans to buy rival Rohm & Haas. Dow, the largest U.S. chemical company, could be hurt even if it goes ahead with the Rohm & Haas buy, as it would be saddled wit ...

Obama may set new policy on Cuba's aging revolution
29 Dec 2008 source: today.reuters.co.uk

By Anthony Boadle WASHINGTON (Reuters) - Five decades after Fidel Castro toppled a U.S.-backed dictator to take power in Cuba, the Cold War rivalry with Washington could be thawing as President-elect Barack Obama looks to ease sanctions against the communist-run island. Obama has made clear he favors relaxing restrictions on family travel and cash remittances by Cuban Americans to Cu ...

Pakistan urges "de-escalation" with India
29 Dec 2008 source: today.reuters.co.uk

By Augustine Anthony ISLAMABAD (Reuters) - Pakistan and India should reduce tension inflamed by last month's militant attacks in Mumbai and resume a peace dialogue, Pakistani military chiefs told a visiting Chinese official on Monday. India has blamed Pakistan-based militants for the assault on Mumbai in which 179 people were killed, reviving old hostilities between the nuclear-armed ...

Oil rises above $40 on Israeli attacks, dollar
29 Dec 2008 source: today.reuters.co.uk

LONDON (Reuters) - Oil prices rose above $40 a barrel on Monday, up nearly 8 percent on the previous session, after violence between Israel and Hamas served as a reminder of tensions that could threaten crude supplies from the Middle East. U.S. light, sweet crude was up $3.18 at $40.89 a barrel by 1000 GMT (5 a.m. EST), below a session high of $42.20. Oil is on track for a nearly 60  ...

Kuwait cancels $17 billion deal with Dow Chemical
29 Dec 2008 source: today.reuters.co.uk

By Ulf Laessing KUWAIT (Reuters) - Kuwait decided on Sunday to scrap a deal to form a $17.4 billion petrochemical joint venture with U.S. company Dow Chemical. The cancellation of the deal, which had met opposition in Kuwait's parliament, was acknowledged Sunday by Dow and is a blow to the largest U.S. chemicals company. Dow had planned to use the proceeds to repay a large part of $1 ...

North Korea makes threat over aid loss: report
29 Dec 2008 source: today.reuters.co.uk

TOKYO (Reuters) - North Korea threatened to stop taking apart its nuclear plant that makes bomb-grade plutonium unless Japan provides it with energy aid as part of an international disarmament deal, Kyodo news agency said on Monday. The threat is the latest snag in the sputtering deal the North struck with five regional powers and comes about two weeks after the United States called for a h ...

Iran hardliners register volunteers to fight Israel
29 Dec 2008 source: today.reuters.co.uk

TEHRAN (Reuters) - A group of Iranian hard-line clerics is signing up volunteers to fight in the Gaza Strip in response to Israel's air strikes that have killed at least 300 Palestinians, a news agency reported on Monday. "From Monday the Combatant Clergy Society has activated its website www.rohaniatmobarez.com for a week to register volunteers to fight against the Zionist regime (Israel)  ...

Japan insurers seek merger as crisis takes toll
29 Dec 2008 source: today.reuters.co.uk

By Kim Coghill SINGAPORE (Reuters) - Crumbling home and auto sales pushed three Japanese insurers into merger talks and Koreans plan to cut spending on children's education, signs the global economic slump is reshaping business and lifestyles around the world. Economic reports this week are expected to produce more bleak reading, showing global manufacturers entrenched in recession a ...

Suicide bomb kills at least two north of Kabul
29 Dec 2008 source: today.reuters.co.uk

By Sayed Salahuddin KABUL (Reuters) - A suicide bomber detonated a car packed with explosives outside a government office north of the Afghan capital Kabul on Monday, killing at least two people, sources said. The attack happened as Afghan provincial authorities and U.S. forces were holding a weekly meeting inside the office of the governor of Parwan province in the local capital Cha ...

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