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China will offer its close ally Pakistan a low-interest $500 million (315 million euro) loan to help ease its growing financial problems, Pakistan's foreign minister said. Shah Mehmood Qureshi made the announcement Thursday after a recent visit to China and after Pakistan hosted a protest-free, security-heavy leg of the Olympic torch relay amid Western criticism of its giant neighbor's human righ.. more

A ubiquitous chemical found in hard plastic water bottles, DVDs, CDs and hundreds of other common items came under increased pressure Friday when Canada said it's potentially harmful and may ban its use in baby bottles. Health Canada made the announcement shortly after a U.S. company said it would stop selling hard-plastic Nalgene water bottles made with bisphenol A because of growing consumer con.. more

Former Fannie Mae chief Franklin Raines and two top executives have agreed to a $31.4 million (20 million euro) settlement with the government over their roles in a 2004 accounting scandal. Raines, the company's former chief financial officer Timothy Howard and former controller Leanne Spencer were accused in a civil lawsuit of manipulating earnings over a six-year period at Fannie, the largest U... more

Crude oil futures surged to a new trading record of $117 a barrel on Friday following an attack on a key pipeline in Nigeria. The rally capped a week of record highs fueled by supply woes and the dollar's weakness relative to other major currencies. Gasoline futures also reached new record highs. Light, sweet crude for May delivery spiked to a new trading record of $117 in after-hours electronic t.. more

Societe Generale Chairman Daniel Bouton will be replaced as chief executive officer, according to the French bank, which is trying to rebuild its reputation after a huge trading fiasco. Bouton will end a 15-year run as the bank's top executive, but will remain chairman in a move that splits up the CEO and chairman posts among two people to improve governance, the bank said in a statement Thursday... more

Italy's Premier-elect Silvio Berlusconi says he discussed Aeroflot's possible role in saving Alitalia with Russian President Vladimir Putin. Berlusconi has told a news conference at his Sardinian villa Friday that he and the Russian leader discussed the possibility of including Aeroflot in a solution for the struggling Alitalia airline. Berlusconi has given mixed signals about his plans to save A.. more

Hours before a U.S.-South Korean summit, the two nations have reached an agreement that could clear the way for South Korea to resume imports of U.S. beef, a South Korean news agency reported Friday. South Korean President Lee Myung-bak is scheduled to visit. President Bush in Washington. Negotiators on both sides have "agreed to rewrite import sanitation rules for U.S. beef," according to the Yo.. more

At least two and a half percent of all transport fuels sold in Britain must now come from renewable sources, under new rules which came into force on Tuesday. The British Government mandated the move as part of its Renewable Transport Fuels Obligation. The European Union is pushing renewables such as biofuel as part of an initiative to lower auto emissions -- the goal is to move the target up to .. more

J.K. Rowling says the Harry Potter characters she created are as dear as her children -- too precious to allow an inferior Potter encyclopedia to be published without letting the world know the ordeal is draining her of her will to write. "I really don't want to cry because I'm British, you know," the mother of three told a judge Monday in U.S. District Court as she described how much her characte.. more

Tesco, the British-based grocer rolling out a series of stores across the United States, reported a 12.3 percent rise in full-year net profit on Tuesday, cheering investors amid an otherwise gloomy retail market. Tesco also hit back at critics of its U.S. operations, saying its Fresh & Easy Neighborhood Market food convenience business has been well received by customers and is growing strongly. .. more