World Business News

The Nigerian National Petroleum Corporation (NNPC) and Shell Petroleum Development Company (SPDC), have resolved to collaborate to achieve the 250,000 barrels/day ambitious growth target by 2015.

All generic pharmaceutical companies, including Ranbaxy Laboratories, Cipla, Dr Reddyâ„¢s Laboratories, Lupin, Glenmark and Torrent Pharma, might soon have to pay a fee to the US drug regulator when they seek its permission to sell their products there.

The Federal Reserve has cut its forecast for economic growth in 2012 from 2.9% to 2.4%.

Wells Fargo & Co (WFC), the fourth-largest U.S. bank by assets, is looking to move some jobs outside the United States as it pushes forward with a company-wide cost-cutting program, a spokeswoman said on Wednesday.