China fund to buy 1.5-bn-dlr stake in Canadian miner

China's sovereign wealth fund said it would buy 1.5 billion dollars worth of shares of the Canadian mining company Teck Resources Ltd. The purchase by the China Investment Corp would amount to a 17.2 percent equity stake in Teck, giving the 200-billion-dollar wealth fund a 6.7 percent voting interest in the mining company, the corporation said Friday.

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Agence France-Presse - 7/4/2009 2:40 AM GMT

Latin America and the Caribbean are well placed to emerge from the storm buffeting much of the global economy, multilateral lenders said here Friday while meeting with regional ministers. The finance ministers gathered at Vina del Mar in Chile agreed to seek "a more active role from multilateral lending institutions" for the crisis but also for after the crisis, said Chilean Minister Andres Velasco.

Agence France-Presse - 7/3/2009 9:47 PM GMT

Two US legal firms announced Friday that they have filed a class action suit against a London-based insurer on behalf of the Mexican victims of fraudulent financier Allen Stanford. The lawsuit was filed by the Strasburger & Price and Castillo Snyder law firms before a court in Houston and targets Willis Group Holdings -- an insurer headquartered in London, with offices around the world.

Agence France-Presse - 7/3/2009 8:35 PM GMT

Latin America and the Caribbean are well placed to emerge from the storm buffeting much of the global economy, multilateral lenders said here on Friday. "There is no doubt that the big surprise for the everyone is that Latin America and the Caribbean will be one of the regions that can most quickly exit the crisis," said Luis Alberto Moreno, head of the Inter-American Development Bank.

Agence France-Presse - 7/3/2009 5:26 PM GMT

Troubled British Airways said Friday that it would slash capital expenditure by one fifth in the current financial year after posting another sharp drop in monthly passenger numbers. "Market conditions continue to be very challenging with trading at levels well below last year," the struggling airline said in a trading update.

Agence France-Presse - 7/3/2009 5:08 PM GMT

World commodity markets were rocked this week by weak data in the United States, a leading consumer of raw materials, which cast doubt on the prospect of a global economic recovery. Data released Thursday showed US job losses surged to 467,000 in June, pushing the unemployment rate to a 26-year high of 9.5 percent.

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This undated handout photo released by the Korean Central News Agency in January shows a missile-firing drill at an undisclosed location in North Korea. North Korea test-fired three missiles on the eve of American Independence Day celebrations, South Korea's defence ministry said, further stoking tensions amid an international nuclear standoff.
NKorea test-fires three missiles: SKorea ministry

North Korea test-fired three missiles on the eve of American Independence Day celebrations, South Korea's defence ministry said, further stoking tensions amid an international nuclear standoff. The firing of the missiles, reported to have a range of up to 500 kilometres (312 miles), follow a series of missile launches earlier this week by the isolated Stalinist state.

Agence France-Presse - 7/4/2009 3:58 AM GMT

Latest Entertainment News

US musician Lenny Kravitz performs during the "Rock in Rio" music festival in Arganda del Rey, near Madrid, on July 06.
Jackson fans told to stay away as tickets up for grabs

Fans heading to Los Angeles for Michael Jackson's memorial extravaganza were urged to stay away as organizers said tickets for the event would be allocated by an online lottery. Pop icon Jackson's sudden death on June 25 sparked a worldwide outpouring of grief and hundreds of thousands of devotees are expected to descend on Los Angeles for Tuesday's memorial at the Staples Center.

Agence France-Presse - 7/4/2009 2:45 AM GMT

Latest Sports News

Venus Williams jubilates after winning against Russia's Dinara Safina after their semi final match on Day 10 at the 2009 Wimbledon tennis championships at the All England Club, on July 2. Venus and Serena Williams clash in a fourth all-sister Wimbledon final on Saturday determined to prove that their domination of the event is not a backward step for the sport's future welfare.
Wimbledon at mercy of Williams sisters

Venus and Serena Williams clash in a fourth all-sister Wimbledon final on Saturday determined to prove that their domination of the event is not a backward step for the sport's future welfare. Despite 128 players starting out in the first round last week, the two Americans are once again left to contest the final for the second successive year and for the eighth time in a Grand Slam final.

Agence France-Presse - 7/4/2009 3:53 AM GMT

Latest Regional News

UN chief Ban Ki-moon says the head of Myanmar's junta had stalled on his request to see Aung San Suu Kyi, seen here in 1999, leaving his mission to seek the democracy icon's release at risk of ending in failure.
Myanmar junta blocks UN chief from meeting Suu Kyi

UN Secretary General Ban Ki-moon said he was "deeply disappointed" after the chief of Myanmar's military junta on Saturday refused to let him meet pro-democracy leader Aung San Suu Kyi. Ban announced the regime's decision after holding a second meeting with reclusive military supremo Than Shwe in the bunker-like capital Naypyidaw on the second and final day of his visit to the country.

Agence France-Presse - 7/4/2009 5:16 AM GMT

Latest Celebrity Gossip

Blur bassist Alex James admits his four children don't know what he does for a living.
Alex James' confused kids

Alex James' children think he is a conductor. The musician - who took part in UK TV show 'Maestro' last year, where celebrities had to learn how to conduct an orchestra - admits his four kids have no idea about his success as a bass player.

Bang - 7/4/2009 7:00 AM GMT

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