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News at Noon

From Reuters

BP approaches funds to fend off takeover bids: source

By Amena Bakr and Nicholas Parasie

July 6, 2010

(Reuters) – British oil company BP is seeking support from sovereign wealth funds in the Middle East and Asia to defend itself from any takeover bids while it deals with its massive U.S. oil spill, a senior UAE source said on Tuesday.

BP executives have held talks with a number of sovereign wealth funds (SWFs) including Abu Dhabi, Kuwait, Qatar and Singapore, the source told Reuters under condition of anonymity.

“BP is seeking a strategic partner so it doesn’t get taken over by other major oil companies such as Exxon and Total,” the source said. “It’s BP that is approaching the sovereign wealth funds not the other way round. They are the ones in need of a partner.”

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News at Noon

From Reuters

BP eyes stake sale as spill cost tops $3 billion

By Raji Menon and Eman Goma

July 5, 2010

(Reuters) – Shareholders in British oil company BP balked at reports it would seek urgent investment from a wealthy Middle East or Asian country as clean-up costs for its U.S. oil spill topped $3 billion.

Over the weekend, while U.S. Independence Day holidaymakers shunned Gulf of Mexico beaches tarred by the leaking well, media reports said BP was looking for a strategic investor among the sovereign wealth funds of the Middle East and Asia.

An investor would help ward off a takeover and raise funds for the liabilities racking up behind the worst oil spill in U.S. history, the reports said.

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News at Noon

From Reuters

General Petraeus in Afghanistan warns of tough mission

By David Fox

July 3, 2010

(Reuters) – The United States’ top field commander, General David Petraeus, warned on Saturday of a tough mission ahead a day after arriving to take command of the 150,000-strong NATO-led foreign force in Afghanistan.

Petraeus told hundreds of guests at a U.S. embassy party held to mark U.S. independence day that it was essential to show unity of purpose to solve Afghanistan’s problems.

“This is a tough mission, there is nothing easy about it,” he said at the sprawling and heavily fortified U.S. embassy complex in Kabul, Washington’s biggest foreign mission anywhere in the world and boasting 5 ambassadors.

A Bold Notion

I read in the New York Times today about one of the strange twists of drama Tibetan Buddhism is going through since coming out of its millennial seclusion.

The way it goes is that you have a teacher who is a highly realized master, enlightened, and so forth, and because they have these attributes, they have the power to choose to come back for another lifetime, or many lifetimes, in order to help sentient beings.

That is not a notion confined to Tibetan Buddhism or any other flower of Buddhism.  Since The Matrix came out, popular culture in the West has dug the reality trip, as well, yah oh yah.

But the way the Tibetans would find out where the realized teacher had been reborn was pretty unique and powerful in its own way.

Miraculously, these adepts would usually have the time to write a letter, to be opened at their death, and the letter would have clues as to where he could be found, reborn in an auspicious coincidence where these clues could provide a good result.

It was a spiritual treasure hunt.  The search itself was a lesson with its own traditions of adventure and illumination, and was a very interesting test to be given from a revered teacher who had just left this world physically, or at least that is the phenomenon presented, the appearance.

If done right, this trip to find the teacher, using the teacher’s last written test, is a real teaching no different than the ones which led to the students now having to find their teacher again.

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News at Noon

From Reuters

Special Report:  Should BP nuke its leaking well?

By Nastassia Astrasheuskaya, Ben Judah, Alina Selyukh

July 2, 2010

(Reuters) – His face wracked by age and his voice rasping after decades of chain-smoking coarse tobacco, the former long-time Russian Minister of nuclear energy and veteran Soviet physicist Viktor Mikhailov knows just how to fix BP’s oil leak in the Gulf of Mexico.

“A nuclear explosion over the leak,” he says nonchalantly puffing a cigarette as he sits in a conference room at the Institute of Strategic Stability, where he is a director. “I don’t know what BP is waiting for, they are wasting their time. Only about 10 kilotons of nuclear explosion capacity and the problem is solved.”

A nuclear fix to the leaking well has been touted online and in the occasional newspaper op-ed for weeks now. Washington has repeatedly dismissed the idea and BP execs say they are not considering an explosion — nuclear or otherwise. But as a series of efforts to plug the 60,000 barrels of oil a day gushing from the sea floor have failed, talk of an extreme solution refuses to die.

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News at Noon

From Reuters

Surprise rise in jobless claims stokes recovery worries

By Reuters

July 1, 2010

(Reuters) – New claims for state unemployment aid unexpectedly rose last week, heightening fears the U.S. economic recovery is stalling.

Initial claims for state unemployment benefits increased 13,000 to a seasonally adjusted 472,000, the Labor Department said on Thursday.

Analysts polled by Reuters had expected claims to slip to 452,000 from the previously reported 457,000, which was revised slightly up to 459,000 in Thursday’s report.

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