An explosion and fire ripped through a gasoline processing unit at an Exxon Mobil Corp refinery near Los Angeles on Wednesday, leaving California with the threat of higher gasoline prices.
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EU's Oettinger says Greece deal possible next week
Germany's EU Commissioner Guenther Oettinger said on Friday he thinks Greece and its creditors should be able to reach a deal but may need another meeting of euro zone leaders next week.
Subsidy cuts in India's budget may disappoint investors
India may slash its food and fuel subsidy bill by about $8 billion in next week's budget, two sources said, but despite the impressive headline, the cut is not as radical as free market champions had hoped for in Prime Minister Narendra Modi's first full budget.
Oil falls below $60 as oversupply weighs
Brent crude oil fell below $60 a barrel on Friday as oversupply, supported by record-high U.S. crude stocks, weighed on the market.
Oil edges up as U.S. rig count likely to fall further
Oil markets edged up on Friday to halt a two-day drop, helped by expectations that data later in the day would show a continuing decline in the U.S. oil rig count, a clear sign of the pressure the tumble in crude has put on oil producers.
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Greek Finance Minister Yanis Varoufakis said on Wednesday he believed euro zone finance ministers would approve an Athens government proposal on extending the country's loan agreement later this week.
Samsung Electronics Co Ltd said it would buy mobile wallet provider LoopPay as it tries to gain a share in the mobile payments market, which its archrival Apple Inc recently entered with Apple Pay.
The U.S. Food and Drug Administration has expanded the authorized use of Celgene Corp's cancer drug Revlimid to include newly diagnosed patients with multiple myeloma, the company said on Wednesday.
Federal Reserve policymakers expressed concern last month that raising interest rates too soon could pour cold water on the U.S. economic recovery, and fretted over the impact of dropping "patient" from the central bank's rate guidance.
Greece is expected to ask on Thursday for an extension to its "loan agreement" with the euro zone as it faces running out of cash within weeks, but it must overcome resistance from skeptical partners led by Germany.
Mobile messaging apps Line and Kakao Talk are busy trying to conquer overseas markets such as Southeast Asia and India. But they may do well to keep a close eye on their home turf of Japan and South Korea as China's WeChat amasses more users.
South Korea's Hyundai Motor Co plans to spend around $1.8 billion by 2020 on a major offensive in commercial vehicles, including entering the race in the United States, to catch up with rivals in a rapidly growing global market.
The British government said on Tuesday it had awarded Boeing (BA.N) a five-year contract worth 420 million pounds ($644.91 million) to provide in-service support to its fleet of Chinook military helicopters.
Israel's defense minister arrived in India on Wednesday to help sell his country's arms industry to the world's largest defense importer and promote deepening military ties between the two nations.
