Lukoil Board Approves Investment Program of over $ 20 Billion
News from Report – Fox Business:

Russian oil producer OAO Lukoil Holdings (LKOH.RS) has approved an investment program for 2013 at over $ 20 billion, the company’s Chief Executive Vagit Alekperov said Tuesday, according to Interfax news agency.

The board of directors approved an investment program and will allow the company’s management to revise it upward by up to 10%, he said.

“There are two things we won’t be doing no matter what the price of oil is: reducing payments to our shareholders and adjusting our investment program,” Mr. Alekperov is quoted as saying.

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Barclays May Follow US Peers in Higher Investment Bank Profit
News from Bloomberg:

Barclays Plc (BARC), the first U.K. lender to report first-quarter results, may report a rise in profit at its investment bank, helped by gains in the U.S. as Europe’s sovereign debt crisis crimps income from the region.

Pretax profit at the unit, led by Rich Ricci, who will step down in June, may rise 5.5 percent to 1.25 billion pounds ($ 1.9 billion) from the year-earlier period, according to the median estimate of five analysts surveyed by Bloomberg. The company reports earnings tomorrow at 7 a.m. in London.

The firm, which acquired Lehman Brothers Holdings Inc.’s North American operation out of bankruptcy in 2008, is seeking to target the U.S., where income from arranging takeovers and stock offerings is rising, contrasting with a decline in Europe. The London-based bank last week said it plans to expand the securities unit’s focus on the U.S., the firm’s largest source of income after Britain, and named Skip McGee head of its Americas oper…………… continues on Bloomberg

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