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Statoil in large oil discovery in North Sea

August 27, 2012 1:40 am | by The Associated Press | News | Comments

Norway's Statoil says it has discovered a high quality oil reserve in the North Sea off the coast of Stavanger.The state-controlled oil company says the find in the Geitungen field is estimated at between 140 and 270 million barrels of recoverable oil equivalents.It was found near the Johan...

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Samsung takes 3 percent stake in ASML

August 27, 2012 12:41 am | by The Associated Press | News | Comments

ASML Holding NV says that Samsung Electronics Co. has agreed to buy a 3 percent stake in it for €500 million ($625 million), following the lead of other key computer chip manufacturers Intel Corp. and Taiwan Semiconductor Manufacturing Company Ltd.In July, Intel bought 15 percent of the Dutch...

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Spyker: China's Youngman invests $12.5 million

August 27, 2012 12:40 am | by The Associated Press | News | Comments

Spyker NV, the company that bought Saab but couldn't save it from bankruptcy, says Chinese car manufacturer Zhejiang Youngman Passenger Car Group Co, Ltd. will invest €10 million ($12.5 million) in Spyker to make a new car.Spyker said Monday Youngman will pay €6.7 million for a 29 percent stake...

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Sundance accepts Hanlong's $1.4 billion offer

August 26, 2012 9:41 pm | by The Associated Press | News | Comments

Shares in Africa-focused Australia-based iron ore miner Sundance Resources Ltd. jumped 7.5 percent Monday after its board accepted a reduced takeover offer from China's Hanlong Mining Investment Ltd.Sundance said Monday it accepted a fresh 1.37 billion Australian dollar ($1.42 billion) offer,...

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Miss. declares emergency as Isaac aims for state

August 26, 2012 6:41 pm | by JEFF AMY - Associated Press - Associated Press | News | Comments

Mississippi Gov. Phil Bryant has declared a state of emergency as officials prepare for a hit from what's now Tropical Storm Isaac.Weather forecasters told Bryant and other state officials meeting Sunday at the state Emergency Operations Center that tropical storm winds could begin along the...

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Oil companies pull back as Isaac roars toward Gulf

August 26, 2012 2:40 pm | by The Associated Press | News | Comments

Oil companies scrambled out of the path of Tropical Storm Isaac, withdrawing offshore workers and cutting oil and gas production in the Gulf of Mexico.By mid-day Sunday, the U.S. government said that daily oil production in the Gulf was down 24 percent and natural gas production was off 8...

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Apple jurors grappled with complex patent issues

August 26, 2012 1:41 pm | by PAUL ELIAS - Associated Press - Associated Press | News | Comments

The youngest juror, a 24-year-old whose favorite court attire was T-shirts bearing the names of rock bands, chose a Beatles sweat-shirt for Friday's dramatic unveiling of the $1.05 billion verdict in favor of computer titan Apple Inc. One of the oldest was a retired electrical engineer who, as...

Klobuchar makes formidable target for GOP

August 26, 2012 11:41 am | by PATRICK CONDON - Associated Press - Associated Press | News | Comments

Nearly any discussion of Minnesota's U.S. Senate race presumes Sen. Amy Klobuchar is a virtual lock for re-election, with such an advantage in money, name recognition and poll standing that some Republicans openly despair of their chances to keep her from a second term."I spent a lot of time...

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Anti-nuclear protests signal new activism in Japan

August 26, 2012 12:40 am | by MARI YAMAGUCHI - Associated Press - Associated Press | News | Comments

This is Japan's summer of discontent. Tens of thousands of protesters — the largest demonstrations the country has seen in decades — descend on Tokyo every Friday evening to shout anti-nuclear slogans at the prime minister's office. Many have never protested publicly before."I used to complain...

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Apple's $1B patent verdict could corner market

August 25, 2012 9:41 pm | by PAUL ELIAS - Associated Press - Associated Press | News | Comments

It was the $1 billion question: What does Apple Inc.'s victory in an epic patent dispute over its fiercest rival mean for the U.S. smartphone industry?Analysts from Wall Street to Hong Kong debated Saturday whether a jury's decision that Samsung Electronics Co. ripped off Apple technology would...

Summary of Apple's $1 billion verdict

August 25, 2012 5:41 pm | by The Associated Press | News | Comments

THE ISSUE: Apple Inc. claimed Samsung Electronics Co.'s smartphones and computer tablets "slavishly copied" the iPhones and iPads. Samsung countered with its own claims that Apple used its wireless technology without proper compensation.THE VERDICT: A nine-person jury unanimously agreed with Apple...

Authorities: Passenger diverts flight to Denver

August 25, 2012 5:40 pm | by The Associated Press | News | Comments

Authorities say the second flight in a week to be diverted to Denver because of an unruly passenger has landed at Denver International Airport.The Denver Post reports (bit.ly/Pdo0gg) United Airlines flight 734 from San Francisco to Chicago landed safely at about 10:15 a.m. Saturday.Airport...

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Chevrolet Sonic recalled to fix wiper fluid issue

August 25, 2012 7:41 am | by The Associated Press | News | Comments

General Motors Co. is recalling nearly 45,000 of its 2012 Chevrolet Sonic subcompact cars because of a defect that could prevent washer fluid from spraying on the car's windshield.The recall covers certain 2012 Sonics manufactured from May 5, 2011 through Feb. 24, 2012.GM says the windshield...

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Mine shootings threaten SAfrica's president, party

August 25, 2012 7:41 am | by MICHELLE FAUL - Associated Press - Associated Press | News | Comments

South Africa's powerful trade unions are in turmoil following violence that killed 44 people at a platinum mine strike that has wide-ranging political implications.Labor leaders charge that rivalry between new and old unions is an orchestrated plot to destroy South Africa's labor movement....

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Sweden to order 40-60 fighter jets from Saab

August 25, 2012 4:41 am | by The Associated Press | News | Comments

The Swedish government says it will buy 40 to 60 Jas Gripen fighter jets from Saab AB that will increase the country's spending next year and in 2014 by 300 million krona ($45.5 million).Prime Minister Fredrik Reinfeldt and three other ruling coalition ministers say the planes will be operative...

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