Libya oil exports at 20 percent of pre-war level

TRIPOLI, Libya — Protests by the security guards who protect Libya's oil industry and infrastructure shutdowns have sent petroleum exports plunging to levels far below those prior to the 2011 war that toppled dictator Moammar Gadhafi, and the country itself risks a domestic fuel shortage, according to a high-ranking government oil official.

Libya is currently exporting between 300,000 and 320,000 barrels daily, a fifth of the 1.6 million barrels it regularly exported before the war, Deputy Oil Minister Omar el-Shakmak told reporters late Tuesday. Exports are down by 50 percent compared to last week.

The drop in exports mostly sent to European countries comes amid an international oil price rise of more than 15 percent over the last three months. Oil was selling for $109 on Wednesday in large part due to regional instability including a possible U.S. strike against Syria and the Libya oil delivery problems.

Besides the protests that have shut down eastern ports and refineries, gunmen in the western el-Riyayna area near the Nafusa Mountain range closed three oil pipelines that typically carry 452,000 barrels a day, most of which is used domestically, el-Shakmak said.

The country will experience fuel shortages if the pipelines remain closed for more than a week, he added.

The armed men have no connection to the pipelines and are demanding money and vehicles in return for allowing oil to resume flowing. Defense ministry officials and oil installation guards will work to resolve the problem, el-Shakmak said without giving more details.

The port of Brega, which sends oil to Italy, resumed operations on Saturday after being closed for a week, said an oil ministry official who spoke on condition of anonymity because he was not authorized to speak to the media.

But ports and refineries in El-Sidra, Ras Lanuf and Zueitina remain closed due to protests by guards demanding better pay and equipment to secure their posts. They are also protesting for the reinstatement of their unit's supervisor in the Defense Ministry, Ali Al-Ahrash, who was recently removed for reasons that have not been made public.

Illicit sales of oil by some and protests by security guards, who work under the Defense Ministry, have also hurt Libya's oil exports.

Libyan oil production was steady during the regime of Gadhafi. Production stopped completely at one point during the war, but bounced back in February 2012, four months after Gadhafi was captured and killed by rebels.

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Bombardier in talks with Russia on aircraft deal

TORONTO — Canada's Bombardier has signed a preliminary agreement with a Russian state corporation for the purchase of as many as 100 Q400 NextGen aircraft in a deal that could be worth up to $3.39 billion.

The Montreal-based plane and train manufacturer said Wednesday that the deal with Rostekhnologii, a state corporation controlled by the Russian Federation, also includes the possibility of setting up a Q400 NextGen final assembly line in Russia to complement its Toronto operations.

Bombardier says the manufacturing facility in Russia is a key commercial requirement for the deal and would be managed by a joint venture.

The sales agreement is expected to be finalized in 2014.

There are currently more than 120 Bombardier commercial aircraft in service in Russia and other former Soviet republics.

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Pending sales of US homes slip but remain solid

WASHINGTON — Fewer Americans signed contracts to buy U.S. homes in July, but the level stayed close to a 6 ½-year high. The modest decline suggests higher mortgage rates have yet to sharply slow sales.

The National Association of Realtors says its seasonally adjusted index for pending home sales declined 1.3 percent to 109.5. That's close to May's reading of 111.3, which was the highest since December 2006.

The small decline suggests sales of previously owned homes should remain healthy in the coming months. There is generally a one- to two-month lag between a signed contract and a completed sale.

Final sales jumped to an annual pace of 5.4 million in July, the highest in 3 ½ years, the Realtors said last week. That's consistent with a healthy housing market.

Higher mortgage rates appeared to have had a bigger impact on new-home sales, which plummeted last month. That raised fears that rate increases were restraining the housing recovery.

But many economists note that home prices and mortgage rates remain low by historical standards. Consistent job gains and rising consumer confidence may also support sales in the coming months.

"Higher mortgage rates are clearly negative for housing, but other key drivers, including the labor market, confidence, and expectations for prices and interest rates still point to improvement," Jim O'Sullivan, chief U.S. economist at High Frequency Economics, said in a note to clients.

The average rate on a 30-year mortgage reached 4.58 percent last week, the highest level in two years and up from 3.35 percent in early May. Still, that's below the average since 1985 of about 7 percent, according to Bankrate.com.

Mortgage rates began to rise after Federal Reserve Chairman Ben Bernanke first signaled that the Fed might reduce its bond purchases later this year. The purchases have helped keep borrowing costs low.

Rising home prices and more construction have boosted economic growth and created more jobs. The housing recovery has provided crucial support to the economy when other drivers, such as manufacturing, have struggled.

However, gains in home prices may be starting to level off. Prices jumped 12.1 percent in June from a year earlier, according to the Standard & Poor's/Case-Shiller home price index released Tuesday. That's slightly slower than May's 12.2 percent year-over-year gain. But price increases slowed in June from May in 14 of the 20 cities tracked by the index.

The stabilization in prices isn't necessarily a bad thing, economists said, because it could keep homes affordable and help prevent a bubble from developing in the housing market.

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Argentine high court considers media monopoly law

BUENOS AIRES, Argentina — The future of broadcast television and other news media in Argentina is at stake as the Supreme Court hears arguments on the constitutionality of a law designed to break up privately held media monopolies.

The 2009 law's stiff limits on cable TV ownership would force Grupo Clarin to break itself apart, demolishing a leading opposition voice against government power.

Both sides argued for freedom of expression in the hearings, which were broadcast live on Argentine television Wednesday.

Government lawyer Carlos Ruta said judges must decide whether it's better to trust the "savage power" of private companies or the "institutional guarantees of the state."

Luis Pardo, speaking for Clarin, said that "without an independent media, the right to inform will be held solely by pro-government media."

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Man, dog join forces for new breed of philanthropy

LOS ANGELES — When Charlie Annenberg adopted an abandoned golden retriever named Lucky, a new breed of philanthropy was born.

Lucky was 4 in 2001 when he teamed up with Annenberg, scion to a wealthy family known for giving money away.

The 46-year-old Annenberg incorporated Lucky into all his projects. They were on the road more than they were home as they traveled around making documentaries about people who were making a difference.

Lucky became Annenberg's sidekick and soul mate and would eventually inspire donations to dog-focused causes from the as much as $8 million the philanthropist controls annually.

Whether it was a chef at The White House or coal miners 100 feet underground in West Virginia, Lucky made documentary interviews easy because he made everyone so comfortable. In each small town and big city, the man and dog would make unannounced stops at a retirement home, where Lucky would steal the show.

The workload for both grew with explore.org. Using state-of-the-art cameras, Annenberg brought wildlife (bears and bees and beluga whales) to stunning life for millions of web watchers. He and Lucky traveled to every installation in North America and everywhere they went, Annenberg filmed Lucky interacting with people and places.

At the Delta Blues Museum in Mississippi, Annenberg cut a harmonica-backed, spontaneous freestyle jazz tribute to Lucky.

"It doesn't matter what color your skin, man or woman, fat or thin. He loves them all, every day. His name is Lucky and he's my friend."

In 2010, Annenberg decided to use his Lucky photos and films for a travel journal on Facebook, telling the story of their trips.

Annenberg called the journal Dog Bless You, he said, because several years earlier Lucky had befriended a homeless man in San Francisco. They shared time and a sandwich with the man. As they were leaving, the man said: "Dog bless you."

The Facebook page was all about Lucky, but it captured the fervor for pets that was growing around the country. "Today we have an audience of 505,000 fans," said Courtney Johnson, explore.org's community relations manager.

When an earthquake and tsunami struck Japan in 2011, killing more than 18,000 people, Annenberg used Dog Bless You to send six search dogs.

Then war veterans started returning home in large numbers, with wounds including brain injuries and post-traumatic stress disorder.

Passion for the cause on Dog Bless You soared. Dogs cost between $2,000 and $50,000 each, depending on how much training they need, Johnson said.

Annenberg, grandson of the late publisher, ambassador and philanthropist Walter H. Annenberg, is a vice president and director of the grant-making Annenberg Foundation. He gives away up to $8 million a year.

In just three years, he has donated 170 guide dogs, search-and-rescue dogs or service dogs for veterans.

The majority of the dogs funded by Annenberg have been for veterans. Because there are waiting lists at almost every training school and experts say thousands of veterans would benefit from a dog, Annenberg plans to accelerate the dog grant program.

Warrior Canine Connection in Brookeville, Md., is just one of the dog training schools Annenberg uses, but it's also one of the most unique because dogs are raised for, by and with veterans.

The latest group of nine puppies is even named after veterans, said Warrior Canine executive director Rick Yount. Called the "honor litter," they are Bre, Luke, Gavin, Leigh Ann, Derek, Nick, Florence, Cody and Stanley.

"It's a good way to say, 'We are not forgetting about your sacrifices.' And they (the namesakes) get to spend time with the puppies and get therapy themselves," Yount said.

Trained veterans teach the puppies for the first eight to 12 weeks. Then the dogs go live with volunteers from military or veteran's organizations. "By the time a dog is fully trained, over 500 vets and service members have been involved in getting it ready," Yount said.

"Hearing the stories of how these dogs help bring their humans out of the darkness is incredible. In some instances, having the companionship of a dog is what motivates them to keep going — it gives them a purpose and reason to get up in the morning," said Dog Bless You fan Rachel Nelken of Vancouver, British Columbia.

As Lucky aged and slowed down, the format of Dog Bless You changed, becoming a tribute to every dog. And Lucky had to retire from traveling.

Annenberg misses Lucky at work.

"He was my partner on all these trips," he said. "It's not the same. He would open the door and make me look good. People always stopped and petted him. Everyone wanted to keep Lucky, especially the coal miners. Isn't it interesting that every day was a new day for Lucky? And he just wanted to be petted? It's been a great ride."

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Judge refuses to suspend BP settlement payments

NEW ORLEANS — A federal judge has rejected BP's latest request to suspend settlement payments to Gulf Coast residents and businesses while a former FBI director leads an independent investigation of the program, which compensates victims of the company's 2010 oil spill.

U.S. District Judge Carl Barbier's order Wednesday says an internal probe by the claims administrator's office didn't find credible evidence of fraud involving employees of the settlement program's claims center in Mobile, Ala.

BP said it received a tip that someone who worked at the center helped people submit fraudulent claims in exchange for some of the settlement money.

In July, Barbier rejected an earlier request by BP to suspend payments after appointing former FBI director Louis Freeh to investigate possible misconduct by a lawyer who worked on the settlement program.

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Fonterra resumes operations in Sri Lanka

COLOMBO, Sri Lanka — New Zealand diary giant Fonterra said Wednesday that it has resumed operations in Sri Lanka after temporarily closing its plant out of concern for the safety of its staff.

Operations in Colombo were temporarily halted to ensure the safety of about 755 employees after members and supporters of a government-allied political party held a protest near Fonterra's office, accusing the company of selling tainted milk.

I am now confident that our people are safe and the business is ready to resume operations and continue selling high quality dairy nutrition to Sri Lankan people," said Fonterra Chief Executive Theo Spierings in a statement posted on the company's web site.

Fonterra recalled infant formula earlier this month after announcing it discovered the presence of botulism bacteria in some of its products. The company has since retested the product and found it free of the bacteria.

Two weeks ago, a nurses' trade union won a court order forcing Fonterra to suspend sales and advertising of its products after Sri Lanka's Health Ministry said tests showed that some imported Fonterra milk products contained traces of the agricultural chemical dicyandiamide.

Health authorities asked Fonterra to recall the tainted batches from the market. The company says it complied.

The court lifted the suspension Friday.

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RI judge OKs lawsuit against Schilling, others

PROVIDENCE, R.I. — A Rhode Island judge is allowing most of a state agency's lawsuit against former Red Sox pitcher Curt Schilling and executives at his failed video game company to move forward.

Superior Court Judge Michael Silverstein on Wednesday issued a 99-page decision that allows the state Economic Development Corp. to sue Schilling, former 38 Studios executives, former EDC officials and others, saying they misled the agency's board into approving a $75 million state loan guarantee for the company. The company filed for bankruptcy last year, leaving the state on the hook for more than $100 million.

The EDC sued in November. The judge turned down the bulk of their motions to dismiss the lawsuit.

Lawyers for the EDC did not immediately comment. Schilling attorney Jeffrey Schreck declined to comment.

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UK orders Ryanair to sell its stake in Aer Lingus

DUBLIN — British competition authorities have ordered Ryanair to sell its stake in Aer Lingus, a ruling that could deal a fatal blow to Ryanair's 7-year campaign to acquire its main Irish rival.

Ryanair vowed to appeal Wednesday's judgment by the United Kingdom Competition Commission. Ryanair chief Michael O'Leary called it "bizarre."

The commission ordered Ryanair to reduce its 30 percent holding in Aer Lingus to 5 percent to eliminate what it described as Ryanair's ability to "impede or prevent" Aer Lingus' acquisition by any other airline.

Ryanair has launched three failed takeover bids since Ireland's government privatized the state-owned airline in 2006.

Ryanair is Aer Lingus' largest shareholder, while the government has retained a 25 percent stake. The government says it's willing to sell its shares, but not to Ryanair.

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Nintendo cuts price of Wii U game console by $50

WASHINGTON — Nintendo Co. announced Wednesday that it is cutting the price of its Wii U video-game system as it braces for the fall release of competing consoles from Sony and Microsoft.

Nintendo will reduce the price of the Wii U deluxe set from $349.99 to $299.99, effective September 20. The company will also release a Wii U bundle featuring "The Legend of Zelda: The Wind Waker HD," a remake of the 2003 game, that will also be available September 30 for $299.99.

The Wii U has struggled to find an audience. Nintendo sold 3.61 million of the consoles between the Wii U's launch last November and the end of June. The company aims to sell 9 million Wii U units over the fiscal year through March 2014.

Nintendo of America President Reggie Fils-Aime said in an interview that consumers who have bought the Wii U "love the system" but want more software. Nintendo's game releases for the rest of 2013 include "Super Mario 3D World," ''Donkey Kong Country: Tropical Freeze," ''Wii Party U" and "Wii Fit U."

"As long as we create high-quality software we will be able to drive our business," Fils-Aime said. Regarding the price cut, he said: "Now is the right time to offer better value. This sets us up for a strong holiday season."

Sony's new console, the PlayStation 4, is due November 15 with a $399 price tag. Microsoft has not announced an exact launch date for its new Xbox One, which will cost $499.

Nintendo also announced a new handheld gaming device that will join its successful DS line. The Nintendo 2DS, coming Oct. 12 for $129.99, will play all DS and 3DS games — although it will not display the latter games' three-dimensional graphics. Like Nintendo's DS models, the 2DS has two screens; unlike them, it does not fold up. Fils-Aime said the 2DS is intended to appeal to "the entry-level consumer looking for lower-priced access to a fantastic library."

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