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World Business Report: 06/11/2015 22:32 GMT: Obama Rejects Keystone XL Pipeline

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06/11/2015 22:32 GMT

06/11/2015 22:32 GMT: Obama Rejects Keystone XL Pipeline

Obama Rejects Keystone XL Pipeline

BBC World Service - World Business Report, Obama Rejects Keystone XL Pipeline

The US president said the oil pipeline would not have served US "national interests".

President Obama rejects the Keystone XL oil pipeline from Canada, saying the project is not in the national interest. We hear from environmentalists and the oil industry.

The US rejects plans for the controversial Keystone XL pipeline, with President Barack Obama saying it was not in the country's "national interests". The project, which would have channeled 800,000 barrels of oil each day from Alberta's tar sands, in Canada, to Nebraska was opposed by environmentalists who said it would do irreparable damage - we hear from one of them. Meanwhile supporters of the pipeline have accused the president of dealing a blow to US workers and energy consumers.   

Croatia is the European Union's youngest member state - and this year the country finally emerged from a six year recession. Not surprisingly voters preparing to go to the polls there on Sunday are focusing on the candidates' economic pledges when they decide who to vote for. We have a special report from Zagreb.

A few months ago Yanis Varoufakis was never out of the news. Greece's former finance minister won plenty of friends and enemies as he rolled up to talks with his country's creditors on his motorbike, and tried to drive a hard bargain in securing access to fresh bailout funds. A reshuffle relieved him of his post after he was criticised for his abrasive style of negotiation. Since then, though, he has been getting the rock star treatment as the BBC's Manuela Saragosa found out at the Kilkenomics festival in Kilkenny, Ireland.

And in our regular look back at the week in business, more countries suspend flights to Egypt following the Russian plan crash, Volkswagen’s troubles spread to petrol vehicles and we discuss which toys will be topping the charts this Christmas. 

(Picture: Protestors celebrate scrapping of the Keystone Pipeline. Credit: Getty Images)

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06/11/2015 22:32 GMT: Obama Rejects Keystone XL Pipeline

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