Britain's new government set to kick-start shale ambitions LONDON, May 22- Britain's new Conservative government could take control of planning decisions to speed up the development of shale gas and prevent investor money from drying up, lawyers say. Prime Minister David Cameron, facing dwindling resources of North Sea oil and gas, and eyeing the shale boom that has set the United States on the path to energy...
| By: Karolin Schaps
WRAPUP 3-BOJ slightly more upbeat on economy, Kuroda sees no need for more easing TOKYO, May 22- The Bank of Japan offered a slightly more upbeat view of the economy on Friday and its governor shrugged off the need for more monetary stimulus, dismissing market concerns that the recovery is too slow to accelerate inflation toward the bank's target. That followed data on Wednesday which showed Japan's economy expanded at the fastest pace in a...
| By: Leika Kihara and Tetsushi Kajimoto
EU embrace of eastern partners turns lukewarm The two-day meeting in Riga underlined that the EU's relations with Russia's neighbors in Eastern Europe are moving on different tracks, with only three of them- Ukraine, Georgia and Moldova- truly pursuing deeper integration. Belarus and Armenia are seeking only limited cooperation after joining Russia's Eurasian Economic Union and Azerbaijan showed...
Source: The Associated Press
Markets are on the 'path of least resistance': Pro Keith Fitz-Gerald, chief investment strategist at MoneyMorning.com, says factors such as better-than-expected earnings and the Fed's accommodative stance are attracting new money into U.S. markets.
METALS-Copper headed for worst week since March on dollar SINGAPORE, May 22- Copper was steady early on Friday but on track for its biggest weekly decline since March as a firmer dollar weighed on prices along with weak Chinese demand. *Three-month copper on the London Metal Exchange was off 0.1 percent at $6,253 a tonne by 0034 GMT, and down 2.5 percent so far for the week. *Investors in U.S.-based funds pulled $597 million...
Saudi Arabia plans to phase out fossil fuels Saudi Arabia, the world's largest crude exporter, could phase out the use of fossil fuels by the middle of this century, Ali al-Naimi, the kingdom's oil minister, said on Thursday. The Financial Times reports.
Source: Financial Times
| By: Pilita Clark
UPDATE 3-U.S. Senate advances fast-track trade bill sought by Obama Washington, May 21- President Barack Obama on Thursday moved closer to winning the power to speed trade deals through the U.S. Congress when the Senate advanced legislation important to his Asian trade push. The TPP is part of Obama's so-called pivot to Asia, a strategy to counter China's rising economic and diplomatic clout in Asia. They were joined by 49 of 54...
| By: Richard Cowan