U.S. House shifts $16 bln toward renewable energy

(Reuters) - The 786-page bill, passed in a rare Saturday vote, was a top priority for House Speaker Nancy Pelosi, and is an amalgam of bills assembled by about a dozen of the chamber's committees in recent months.




Republicans called it a "no-energy bill" because it lacks new drilling incentives, and they derided the new emphasis on renewables as "green pork." The White House threatened to veto the bill on concerns that it could boost energy prices.


Read more at Reuters.com Business News

Barclays' ABN offer period runs until Oct 4: filing

(Reuters) - The RBS-led consortium's offer is worth 71 billion euros
and 93 percent in cash, while Barclays
65-billion-euros offer is about 38 percent in cash.




ABN shareholders can tender shares under the Barclays offer
from August 7 until October 4, Barclays said in a filing to
U.S. regulator the Securities and Exchange Commission late on
Friday.


Read more at Reuters.com Mergers News

Dollar Falls Versus Yen, Euro on Outlook for Lower U.S. Rates by Year-End

(Bloomberg) -- The dollar fell versus the yen, pound
and euro on speculation a worsening outlook for U.S. growth may
prompt the Federal Reserve to cut borrowing costs by year-end.

The U.S. currency declined to near a record low against the
euro yesterday as reports showed slowdowns in payroll growth and
service industries. The European Central Bank on Aug. 2 signaled
it may raise its interest rate in September. The Fed is forecast
to hold the U.S. lending rate at 5.25 percent on Aug. 7.


Read more at Bloomberg Currencies News

Oil tumbles below $76 on US economic data

(Reuters) - Oil tumbled below $76 a barrel on Friday, dragged down as poor U.S. economic data helped send stock markets down again.

U.S. oil CLc1> settled down $1.38 at $75.48 a barrel, after hitting a record $78.77 on Wednesday. London Brent LCOc1> gave up $1.01 to settle at $74.75.


Read more at Reuters Africa