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U.S. crude oil hits 2.5-year high

LONDON (Reuters) – Brent crude rose toward $120 a barrel and U.S. crude hit a 2-1/2-year high above $108 on Monday. Unrest in the Middle East and North Africa kept the focus on oil supplies as economic growth bolstered demand. Iran’s oil minister said there was no need for the Organization…

Customer info from CitiBank, Capital One, others exposed as data breach grows

NEW YORK (Reuters) – The names and e-mails of customers of Citigroup Inc and other large U.S. companies, as well as College Board students, were exposed in a massive and growing data breach after a computer hacker penetrated online marketer Epsilon. In what could be one of the biggest such breaches in U.S. history, a…

Blockbuster auction to decide video chain’s owner

NEW YORK (Reuters) – Multiple bidders are expected to vie for bankrupt movie rental chain Blockbuster Inc at an auction on Monday that will decide the company’s next owner and amount of money available to pay off claims. Once the world’s largest video chain, Blockbuster had a market cap of more than $5…

Debris from downed 2009 Air France jet found

When Air France flight 447 disappeared en route from Rio de Janeiro to Paris on June 1, 2009, all 228 people on board were killed, and the debris was strewn over the Atlantic Ocean. Now, in the robot-assisted fourth round of searches for any remnants of the crash, French investigators…

BP asks to resume drilling in Gulf Coast

Less than a year after the Deepwater Horizon disaster that pumped oil into the waters off the Gulf Coast, BP is applying for permission to resume drilling in the area, reports the New York Times. Citing two unnamed sources — “company officials with direct knowledge of the application” — the…

Southwest cancels hundreds of flights, finds ‘widespread cracking’ on 737

ST. PETERSBURG, Fla (Reuters) – National safety inspectors have found evidence of “widespread cracking” and fatigue on the fuselage of a Southwest Airlines Boeing 737 that made an emergency landing in Arizona with a hole in the cabin, a government official said on Sunday. “Was the aircraft well maintained and…

Facebook sued for $1 billion over Intifada page

WASHINGTON – Facebook and co-founder Mark Zuckerberg have been hit with a lawsuit seeking more than $1 billion in damages over a page on the social network which called for a “Third Intifada” against Israel. Facebook this week shut down the “Third Intifada” page, which had almost 500,000 fans, but…

Transocean hails ‘best year’ in safety, gives execs bonuses, despite Gulf spill

The company that owns the now-infamous Deepwater Horizon, the oil rig that caused immeasurable damage to the Gulf, recently applauded itself for the “best year in safety performance in our Company’s history.” The company, Transocean Ltd., rewarded its executives millions in bonuses for the achievement, according to the annual report…

Southwest Airlines cancels 300 flights after finding ‘gaping hole’ in 737′s fuselage

UPDATED: LOS ANGELES (Reuters) - Southwest Airlines said it expects to cancel 300 flights on Saturday to allow inspections of 79 aircraft from its Boeing 737 fleet, after one of its planes with a gaping hole in the fuselage made an emergency landing. Passengers aboard Southwest Flight 812 from Phoenix toSacramento on Friday heard a loud noise and…

NASDAQ leads counter-bid for NY Stock Exchange

NEW YORK (Reuters) – Nasdaq OMX and IntercontinentalExchange bid $11.3 billion for NYSE Euronext in an effort to trump Deutsche Boerse’s deal, and pushed their case with an appeal to U.S. patriotism. The counterbid — unveiled on Friday to some skepticism it can succeed — would redraw the world’s capital…

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