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(MENAFN - AFP) World oil prices slid Monday, slamming the brakes on last week's rally as events in Nigeria and Iraq pointed to a possible surge in supplies.

in London, trade on Brent North Sea crude for delivery in October slumped $1.72 from Friday to $49.16 a barrel.

In New York trade, US benchmark West Texas Intermediate for September delivery shed $1.47 to $47.05 ...

 
(MENAFN - AFP) Mergers provided the major action on global equities markets on Monday as major indices showed little movement.

Medivation, which makes the hit prostate cancer drug Xtandi, soared 20 percent in New York on the announcement it would be bought by the pharmaceutical giant Pfizer for $14 billion.

The Swiss biotech company Syngenta also added 10 percent after ...

 
(MENAFN - AFP) Paramount's $100 million remake of "Ben-Hur" bombed in its opening weekend at the North American box office, industry data showed Monday, putting it on course to become the summer's biggest flop.

The chariot racing epic brought in just $11.2 million, said box office monitor Exhibitor Relations, making it the highest-profile casualty in a season which has seen ...

 
(MENAFN - AFP) Poland said Monday it would raise spending next year, but still keep its deficit just under an EU-wide limit of 3.0 percent of GDP, while also cutting the growth forecast for central Europe's largest economy.

The finance ministry pegged the 2017 deficit at 2.9 percent of GDP in a Monday statement, or 59.3 billion zloty (137 billion euro, $156 billion).

The ...

 
(MENAFN - AFP) Wall Street traded slightly lower on Monday morning with major drugmakers down following the announcement that Pfizer would buy the cancer drugmaker Medivation for $14 billion.

A half-hour into the morning's trading, the Dow Jones Industrial Average was down 0.3 percent at 18.490.15.

The broader S&P 500 fell 0.3 percent at 2,177.71 and the Nasdaq, ...

 
(MENAFN - AFP) US pharmaceutical giant Pfizer announced Monday that it will acquire Medivation for about $14 billion, besting Sanofi and other large drug companies that had sought the biotech firm's lucrative cancer treatments.

The all-cash deal brings Pfizer the hit medication Xtandi, which generated $2.2 billion in revenues over the last year in treating advanced metastatic ...

 
(MENAFN - AFP) Steelmaker ArcelorMittal has agreed to pay a $110-million (88-million-euro) fine for illegal price fixing in South Africa, the country's competition watchdog announced Monday.

The Competition Commission launched a probe into steel producers in the country in 2008 following concerns around high steel prices, and found that the company colluded with its competitors ...

 
(MENAFN - AFP) US tycoon Steve Wynn Monday opened a $4 billion mega-resort in Macau -- complete with giant lake, musical fountains and cable cars -- as the Chinese casino enclave battles to turn around its fortunes.

At a ceremony attended by 1,000 guests, he launched the Wynn Palace: six million square feet (560,000 square metres) of entertainment with a central casino, more ...

 
(MENAFN - AFP) Most Asian markets fell Monday but the dollar rose on bets on a US interest rate hike this year after the Federal Reserve's vice chairman said the country's economy was picking up.

Stanley Fischer said Sunday the world's top economy was meeting all the Fed's targets and that growth would improve, hinting that borrowing costs could rise this year.

Fischer ...

 
(MENAFN - AFP) The European Union needs a reboot in the wake of Britain's vote to leave, Italy's prime minister said Monday as he prepared to meet his French and German counterparts to discuss the fallout from Brexit.

"It is easy to blame Europe for everything -- harder to try to build a different Europe that pays more attention to values and less to big finance," Matteo ...

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