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UPDATE 2-Safety measures ordered for failed oil pipeline in California

LOS ANGELES, May 22- Owners of an oil pipeline that burst in California this week must take numerous corrective measures, including an in-depth analysis of factors contributing to the spill and a plan to fix any flaws found, before they can restart the line, U.S. safety officials said on Friday. The corrective action order issued on Thursday by the U.S....
Source: Reuters | By: Steve Gorman
Former CEO's lawsuit against Sands China stays in Nevada

LAS VEGAS- A Nevada judge says a wrongful termination lawsuit filed by the former CEO of Sands China Ltd. against the Macau- based company and others, including chairman and current CEO Sheldon Adelson, can proceed in Nevada. The lawsuit from Steven Jacobs accuses Sands China Ltd., Las Vegas Sands Corp. and Adelson of a host of misdeeds. Jacobs' attorneys argued...
Source: The Associated Press
DIARY- Top Economic Events to June 4

SINTRA, Portugal- European Central Bank board member Vitor Constancio chairs session 2 on "Structural Perspectives on European Employment, Productivity, and Growth in a Global Context" at an ECB forum on Central Banking "Inflation and Unemployment in Europe"- 0800 GMT. SINTRA, Portugal- Federal Reserve Vice Chair Stanley Fischer participates in a panel...
Source: Reuters
U.S. fast track trade bill clears final Senate procedural hurdle

WASHINGTON, May 22- Legislation key to sealing a Pacific trade pact passed another critical test in the U.S. Senate on Friday, boosting hopes for a deal that is central to President Barack Obama's strategic shift toward Asia. For the second time in two days, the Senate voted to limit debate on a bill, 61 to 38, granting the White House authority to speed trade deals...
Source: Reuters
Arch Coal in talks with restructuring advisers to cut debt -WSJ

May 22- U.S. miner Arch Coal Inc is in talks with restructuring advisers as it seeks to reduce its debt, the Wall Street Journal reported on Friday, citing sources familiar with the matter. Arch Coal and its rivals have been under pressure as power utilities switch to cheaper natural gas and big consumers such as China reduce imports. Arch Coal said in a statement...
Source: Reuters
EXCLUSIVE-Prosecutors probe possible criminal case in California oil spill

SANTA BARBARA May 22- Government prosecutors are investigating the company at the center of the California oil spill for possible criminal sanctions, according to the district attorney of Santa Barbara- a city that helped spawn the modern environmental movement. Perhaps one of the worst places on Earth for a crude oil leak, Santa Barbara is a beautiful...
Source: Reuters | By: Tim Reid
Cramer Remix: Shutting down the haters

Mad Money host Jim Cramer on why this market can't stop, won't stop.
Source: CNBC.com | By: Abigail Stevenson
Union dockworkers ratify labor contract for U.S. West Coast ports

LOS ANGELES, May 22- Union dockworkers at all 29 U.S. West Coast ports have voted overwhelmingly to ratify a contract agreement reached in February with shipping companies and terminal operators to end months of labor strife that snarled trans-Pacific trade. Members of the International Longshore and Warehouse Union voted 82 percent in favor of the new...
Source: Reuters | By: Steve Gorman
Hero miles for military members: Real estate magnate's plea  

Chairman of the Fisher House Foundation, Ken Fisher, discusses the Hero Miles program with CNBC's Dina Gusovsky. During Military Appreciation Month, Fisher is asking every traveler to donate 1,000 of their miles to replenish the Hero Miles programs that is in danger of running out.
Source: CNBC.com
U.S. National Geospatial-Intelligence Agency: opening up to a changing world

SPRINGFIELD, Va., May 22- Much about the National Geospatial-Intelligence Agency remains classified, but the U.S. spy agency that maps and analyzes the earth is opening up more than ever, from sharing computer source code on a public website to tapping new sources of intelligence. The National Security Agency's page premiered this week, and the Defense...
Source: Reuters | By: Andrea Shalal