Judge refuses to reinstate first oil drill ban

WASHINGTON (Reuters) – A U.S. judge on Wednesday refused a request by environmental groups to reinstate the Obama administration’s original moratorium on deepwater drilling set in the wake of the BP Plc oil spill.

Tehran adds to carmakers’ woes

Iran’s government has reduced its stake in the country’s two largest car producers, which together form the core of the second most important national industry after oil and gas

California city manager’s pension could top $30 million

SAN FRANCISCO (Reuters) – A municipal manager in California who makes nearly $800,000 a year working for a small, poor city could draw pension payments exceeding $30 million in retirement, according to an activist who has been calling for an overhaul of the state’s public pension system.

UPDATE 1-TPG invests $300 million in Copano Energy

NEW YORK, July 21 (Reuters) – Private equity firm TPG
Capital [TPG.UL] is investing $300 million in natural gas
company Copano Energy , which it will use to fund shale
gas production developments, Copano said on Wednesday.

Bailout watchdogs slam Obama housing programs

WASHINGTON (Reuters) – Obama administration housing rescue programs have been ineffective at preventing a rise in home foreclosures even as the government’s support for the mortgage market grew by nearly $700 billion in the past year, U.S. bailout watchdogs said on Wednesday.

TABLE-Genzyme second-quarter product sales

BOSTON, July 21 (Reuters) – Genzyme Corp reported
a decline in second-quarter earnings on Wednesday. Here is a
breakdown of selected product sales. For earnings story, click
on [ID: nN20268342]