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Westpac of Australia Offers to Buy St. George Bank (Update1) Westpac Banking Corp., Australia's
fourth-largest bank, is in talks to buy St. George Bank in what
would be Australia's biggest banking merger.
Calyon's Litzler May Leave After Subprime Losses, People Say Marc Litzler, the head of Credit
Agricole SA's investment bank, may leave the company after losses
tied to the U.S. subprime mortgage market collapse, three people
with knowledge of the matter said.
Shipbuilding Torpedoed by Subprime Leads to Freight Cost Surge The biggest shipbuilding boom in
history collided with the largest credit-market losses ever,
undermining forecasts for a plunge in freight rates.
King May Give Rate-Cut Clues in BOE Inflation, Growth Forecasts Bank of England Governor Mervyn King
will this week map out how much room policy makers see for
interest-rate cuts as they struggle with faster inflation and
signs the economy may be heading for a recession.
Pro-EU Parties May Win Serbian Elections, Early Results Show Pro-European Union parties in Serbia
may have won a surprise victory in yesterday's parliamentary
elections, early results show, increasing chances the Balkan
nation will move closer to EU membership.
Beltran's Homer, 3 RBI Lead Mets Over Reds; Yankees Rained Out Carlos Beltran hit a home run and
drove in three runs to lead the New York Mets over the
Cincinnati Reds 8-3 and take two out of three games in their
weekend series at Shea Stadium.
Pro-EU Bloc Leads Radicals in Serb Vote, Poll Shows (Update1) Pro-European Union parties in Serbia
unexpectedly took a lead of more than 10 percentage points over
the Radicals in today's general election, early returns showed,
raising chances the Balkan nation will move closer to EU
membership.
EnCana to Split Into Separate Gas, Oil Companies (Update3) EnCana Corp., Canada's largest natural-
gas producer, said it plans to split into two energy companies, one
concentrating on gas and the other on oil in a bid to increase its
value with crude at a record high.
Sibirtelecom Sees Sales Tripled by 2012 on Broadband, Services OAO Sibirtelecom, Siberia's largest
phone company, will more than triple revenue from faster-growing
services such as broadband Internet in the next four years, Chief
Executive Officer Alexander Isayev said.
Michael Jackson's Neverland Loan Sold by Fortress to Colony Pop star Michael Jackson averted
foreclosure of his Neverland Ranch because Colony Capital LLC
bought the loan on the property.
U.S. Storms Kill at Least 22 in Midwest, Move East (Update1) Thunderstorms accompanied by tornadoes
left at least 22 dead in the U.S. Midwest before moving toward the
East Coast today, threatening areas from West Virginia to Florida,
while a rare May nor'easter heads for the Northeast.
Obama Overtakes Clinton in Race for Superdelegates (Update4) Democratic presidential candidate
Barack Obama won endorsements from five superdelegates yesterday
and one today, erasing rival Hillary Clinton's long-held lead in
backing from party officials and lawmakers.
Kuwait Awards Contracts for $15 Billion Oil Refinery (Update2) Kuwait, the fourth-largest oil
producer in the Organization of Petroleum Exporting Countries,
awarded contracts to build a $15 billion refinery to four South
Korean construction companies and Fluor Corp.
Myanmar Aid, News Corp. Bid, Venezuelan Oil: Weekend Roundup The following are the main weekend
stories today and yesterday.
Five Palestinians Killed in Israeli Strikes on Gaza (Update1) Israeli air strikes killed five
Palestinians in the Gaza Strip yesterday, after mortar shells
fired by militants at southern Israel killed a civilian on May 9.
Myanmar Risks `Public Health Catastrophe,' Oxfam Says (Update3) Myanmar is on the brink of a ``public
health catastrophe'' that threatens the lives of as many as 1.5
million people suffering from disease and famine following last
week's cyclone, charity Oxfam said.
Brown's Popularity Slump With U.K. Voters Deepens, Poll Shows Prime Minister Gordon Brown's
popularity with voters in the U.K. decreased after the ruling
Labour party's rout in local elections, a PoliticsHome.com poll
showed.
Clinton Will Stay in Race, Spokesman Wolfson Says (Update1) Hillary Clinton, who lost her lead
among party superdelegates this weekend and has $20 million in
campaign debt, will continue her fight for the Democratic
presidential nomination, her campaign spokesman said.
`Iron Man' Remains First With $51 Million in Sales (Update1) ``Iron Man,'' the action-adventure film
starring Robert Downey Jr., remained the top movie at U.S. and
Canadian theaters this weekend, garnering $50.5 million for
distributor Paramount Pictures.
Gold May Gain for Second Week on Demand for an Inflation Hedge Gold may rise for a second straight
week on speculation that higher energy costs will boost demand
for the precious metal as an inflation hedge.
Venezuelan Oil, Australian Taxes, Myanmar Aid: Weekend Roundup The following are the main weekend
stories today and yesterday.
Kuwait Awards Contracts for $15 Billion Oil Refinery (Update1) Kuwait, the fourth-largest oil
producer in the Organization of Petroleum Exporting Countries,
awarded contracts to build a $15 billion refinery to four South
Korean construction companies and Fluor Corp.
Delphi Asks Court to Increase Bankruptcy Loan by $254 Million Delphi Corp., the bankrupt former parts
subsidiary of General Motors Corp., asked the court to approve a
$254 million increase in its loan package, after more lenders
showed interest in funding the loan than the company expected.
Michael Jackson's Neverland Loan Sold to Colony, Person Says Pop star Michael Jackson averted
foreclosure of his Neverland Ranch because Colony Capital LLC
bought the loan on the property, said a person familiar with
the matter.
Djokovic Beats Wawrinka in Rome Final for 3rd Title of Season Serbia's Novak Djokovic secured his
third title of the season with a 4-6, 6-3, 6-3 win over Stanislas
Wawrinka of Switzerland in the Rome Masters tennis tournament
today.
Zimbabwe Minister Rejects MDC Election Conditions (Update1) Zimbabwe's justice minister said his
party will reject any conditions that opposition leader Morgan
Tsvangirai may set for agreeing to take part in a runoff
presidential contest against President Robert Mugabe.
Inflation Fight in Sydney Is Good News for World: William Pesek It's hard to decide who has a more
taxing job these days: Glenn Stevens or Kevin Rudd?
Nymex Chief Confident CME Merger Will Get Shareholder Approval Nymex Holdings Inc. shareholders will
approve its planned sale to CME Group Inc. because the
transaction has ``great value,'' enough to compensate for a
price decline of almost $2 billion, Nymex's Chief Executive
Officer James Newsome said.
U.S. First-Class Stamp, Other Postal Services to Rise Tomorrow The price of a first-class stamp will
increase one penny to 42 cents tomorrow, the U.S. Postal Service
said in a reminder on its Web site.
Food in Any Flavor, As Long as It's Not Chinese: Olympic Dining Western visitors to Beijing often hit
a Chinese wall, where they suddenly get a hankering for foreign
food after filling up with Peking duck and other local dishes for
days.