News Wire

Tanzania to conclude talks for delayed LNG project in September

23/03 Tanzania says it plans to conclude talks in September with a group of foreign oil and gas companies led by Norway's Equinor on developing a liquefied natural gas (LNG) project in the East African country.  Full story

Thai markets expected to rise after pro-army party leads in election

18h46 Thailand's shares and the baht currency looked set to rise on Monday after partial results from Sunday's general election showed a pro-army party ahead of the populist party leading a "democratic front" in the. . .  Full story

Erdogan says those who buy FX expecting lira to fall will pay "heavy price"

17h08 Turkish President Tayyip Erdogan said on Sunday those in the finance sector who buy foreign currencies on the expectation that the lira will fall will pay "a very heavy price", adding the Finance Ministry. . .  Full story

Cruise ship reaches Norway port after near disaster, dramatic rescues

17h07 A luxury cruise ship that had set sail with almost 1,400 passengers and crew aboard arrived at a port in Norway on Sunday after narrowly escaping disaster when its engines failed during a storm.. . .  Full story

Abu Dhabi aims to lure start-ups with investment in new technology hub

13h24 Abu Dhabi will commit up to 1 billion dirhams ($272 million) to support technology start-ups, it said on Sunday, in a dedicated hub as part of efforts to diversify its economy.. . .  Full story

China's Sinopec lifts upstream capex to four-year high, plans record crude runs

13h13 Asia's top refiner China Petroleum & Chemical Corp (Sinopec) boosted spending on exploration and production by 41 percent last year as crude oil reserves tumbled at its biggest oilfield.. . .  Full story

Wall St Week Ahead-Doubts increase that Q1 will be earnings low point

13h00 As Wall Street braces for what may be the first U.S. profit decline since 2016, investors say the first quarter may not mark the low point for 2019 earnings.. . .  Full story

Oman oil minister excited to be part of Sri Lanka oil refinery project

12h52 Oman's oil minister said on Sunday he was excited to be part of a Sri Lanka oil refinery project in a sign that plans for the sultanate's involvement may be back on track.. . .  Full story

Bayer CEO says his team retains backing of supervisory board - report

12h41 Bayer's management retains the backing of its supervisory board, its chief executive said, after pressure on the company increased when a second jury in the United States ruled its glyphosate-based Roundup weed killer caused. . .  Full story

China cbank head says country to step up oversight of systemically important financial firms

12h06 China will increase oversight of systemically important financial institutions and holding companies as the country opens up its financial sector, Central Bank Governor Yi Gang said on Sunday.. . .  Full story

Germany to inject more money into Deutsche Bahn rail network-Bild

11h42 The German government wants to inject some 50 billion euros ($57 billion) into upgrading the national rail network over the next decade, mass-selling Bild newspaper reported on Sunday.. . .  Full story

ANALYSIS-More shale, who cares? Saudi Arabia pushes for at least $70 oil

11h05 Budget needs are forcing Saudi Arabia to push for oil prices of at least $70 per barrel this year, industry sources say, even though U.S. shale oil producers could benefit and Riyadh's share of. . .  Full story

China says will increase regulatory transparency on foreign investment

10h25 China will increase regulatory transparency for foreign investment and further open up market access, China's Vice Commerce Minister Qian Keming said on Sunday.. . .  Full story

China refuses to concede on U.S. demands to ease curbs on tech firms-FT

07h35 Ahead of fresh high-level trade talks this week, China is not conceding to U.S. demands to ease curbs on technology companies, the Financial Times reported on Sunday, citing three people briefed on the discussions.. . .  Full story

China finmin says balancing budget revenue and spending difficult this yr

06h21 China's Finance Minister, Liu Kun, said on Sunday it will be difficult for the government to balance its budget revenue and spending this year due to various tax and fee cuts planned this year. . .  Full story

FACTBOX-Italy signs deals worth 2.5 bln euros with China

05h16 Italy signed a preliminary accord with China on Saturday that makes it the first country of the Group of Seven industrialised nation to join the Chinese Belt and Road infrastructure project.. . .  Full story

China state planner says will continue reform in oil, rail and electrity

05h16 China will continue reform of railway, oil and gas, and electricity industries and cut overcapacity in others, a vice chairman of the state planner said on Sunday.. . .  Full story

Turkish watchdogs to probe JP Morgan after lira plunge

23/03 Turkey's banking watchdog said it had launched an investigation into JP Morgan and other banks over complaints it received after the lira plunged more than 4 percent and the main share index fell sharply. . .  Full story

Passengers airlifted from cruise ship in storm off Norway

23/03 Rescue helicopters evacuated dozens of people from a luxury cruise ship which suffered engine failure on Saturday in stormy weather off the west coast of Norway, police and rescue workers said.. . .  Full story

Ex-Autonomy CEO Lynch denies new U.S. charges against him

23/03 British entrepreneur Mike Lynch vigorously denies new U.S. criminal charges against him, his spokesman said on Saturday ahead of a court case over the sale of his firm Autonomy which will begin in London. . .  Full story

U.S.'s Lighthizer, Mnuchin to travel to China for trade talks-White House

23/03 United States Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing for the latest round of high-level trade talks scheduled to start on March 28, the White House said in a. . .  Full story

OMV and ADNOC sign 2 MOUs for collaboration in the petchem sector

23/03 Austria's OMV and Emirates ADNOC signed two memorandums of understanding, OMV said on Saturday.. . .  Full story

Italy signs deals worth 2.5 bln euros with China

23/03 Italy signed a preliminary accord with China on Saturday that makes it the first country of the Group of Seven industrialised nation to join the Chinese Belt and Road infrastructure project.. . .  Full story

Italy signs deals with China worth 2.5 bln euros, more to come -Di Maio

23/03 Italy signed deals worth 2.5 billion euros ($2.8 billion) during Chinese President Xi Jinping's visit to Rome, Deputy Prime Minister Luigi Di Maio said on Saturday, adding that the value of the contracts could rise. . .  Full story

Chinese rescuers pull survivor from factory blast rubble, death toll reaches 64

23/03 Rescuers in eastern China pulled a survivor from rubble early on Saturday, two days after a massive explosion at a pestcide plant killed at least 64 people, flattening nearby buildings and shattering windows more than. . .  Full story

Hundreds of Algerian lawyers protest against Bouteflika

23/03 Hundreds of Algerian lawyers protested again on Saturday in the capital to demand the immediate resignation of President Abdelaziz Bouteflika who has been for 20 years in power.. . .  Full story

Citi fires eight Hong Kong traders after review finds misconduct - sources

23/03 Citigroup Inc has fired eight bankers and suspended three others from its equities trading desk in Hong Kong after an internal probe revealed misconduct in their dealings with clients, people with knowledge of the matter. . .  Full story

Apple's Cook to China: keep opening for sake of global economy

23/03 Apple chief executive Tim Cook nudged China on Saturday to open up and said the future would depend on global collaboration, as the United States and China remained locked in a bitter trade dispute.. . .  Full story

China can speed up financial sector opening, official says

23/03 China can speed up the opening of its financial sector if the United States is unhappy with the pace because it will be good for both countries, Fang Xinghai, vice chairman of the China. . .  Full story

Fed rate hike, rate cut both 'on the table': Bostic

23/03 The Federal Reserve's patient approach to monetary policy is no guarantee that it will leave interest rates where they are for the rest of the year, the president of the Atlanta Federal Reserve Bank,. . .  Full story

Philip Morris says Canadian unit RBH granted creditor protection

23/03 Philip Morris International Inc on Friday said its Canadian unit, Rothmans, Benson & Hedges Inc (RBH), was granted creditor protection, following a tobacco class action ruling in Quebec this month.. . .  Full story

Trump decides against more N.Korea sanctions at this time -source

23/03 U.S. President Donald Trump on Friday said he has decided against imposing new large-scale sanctions on North Korea in a confusing tweet that seemed to imply he was reversing measures against two Chinese shipping companies,. . .  Full story

Musk's lawyers call tweet in U.S. SEC's contempt bid 'not material'

23/03 Elon Musk's lawyers said that the U.S. Securities and Exchange Commission failed to satisfy its heavy burden of showing that the Tesla Inc chief executive should be held in contempt, and the tweet prompting its. . .  Full story

Trump taps a strident Powell critic for spot on Fed board

23/03 U.S. President Donald Trump on Friday tapped Stephen Moore, a conservative economic commentator and fellow critic of Federal Reserve policy under Chairman Jerome Powell, to join the U.S. central bank's board of governors, a move. . .  Full story

U.S. lawmaker seeks Boeing whistleblowers, some MAX 737 orders in jeopardy

23/03 A U.S. lawmaker on Friday urged current or former Boeing Co and Federal Aviation Administration (FAA) employees to come forward with any information about the certification program for the 737 MAX, which has suffered two. . .  Full story

Allergan promises independent board chair in next leadership change

23/03 Allergan Plc plans to elect an independent board chairman, starting with the next leadership transition, the Botox maker said on Friday, as the drugmaker responds to calls from hedge fund Appaloosa LP to separate. . .  Full story

Image sharing website Pinterest files for IPO

23/03 Pinterest Inc, the owner of the image search website known for the food and fashion photos that its users post, filed for an initial public offering with U.S. regulators on Friday, looking to tap. . .  Full story

Musk's lawyers say U.S. SEC has not met heavy burden to show contempt

22/03 Lawyers for Elon Musk said on Friday that the U.S. Securities and Exchange Commission had failed to satisfy its heavy burden of showing that the Tesla Inc chief executive should be held in contempt. . .  Full story


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U.S. lawmaker urges FAA, Boeing employees to disclose details on 737 MAX approval

22/03 The chairman of U.S. House Transportation and Infrastructure Committee Peter DeFazio on Friday urged current or former Boeing Co and Federal Aviation Administration employees to come forward with any information about the government's aircraft certification program.. . .  Full story


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Some Boeing 737 MAX orders in jeopardy, U.S. pilots try software fix

22/03 Indonesian airline Garuda plans to cancel a $6 billion order for Boeing 737 MAX jets because some passengers say they would be frightened to board the plane after two fatal crashes, although industry analysts said. . .  Full story

Ex-Chinese construction exec found guilty in U.S. of forced labor charges

22/03 A former executive for a Chinese construction company was found guilty on Friday of U.S. charges that he forced Chinese laborers to work in the New York area under a form of debt bondage.. . .  Full story

State-sponsored cyberattacks on banks on the rise -report

22/03 Cyberattacks on financial institutions are increasingly being linked to nation-states, resulting in destructive and disruptive damages rather than just theft, according to a report by the Carnegie Endowment for International Peace.. . .  Full story

China dumped steel wheels on U.S. market -Commerce Dept

22/03 The U.S. Commerce Department has found China unfairly subsidized steel wheels exported to the United States and sold them at prices below fair value, the department announced on Friday in its final determination.. . .  Full story

C$ hits 11-day low as Canada's yield curve inverts

22/03 The Canadian dollar weakened to a near two-week low against the greenback on Friday as moves in the bond market and domestic retail sales data pointed to a slowdown in Canada's economy that could. . .  Full story

Leader of community blocking road to Peru copper mine arrested

22/03 Peruvian police said on Friday that they have arrested the leader and two lawyers of an indigenous community, accusing them of trying to extort Chinese miner MMG Ltd by blocking a road it uses. . .  Full story

What is an inverted yield curve?

22/03 The inversion of the U.S. Treasury yield curve extended to 3-month bills for the first time since 2007. Here is what that means.. . .  Full story

Trump reverses first N.Korea sanctions since failed summit after one day

22/03 U.S. President Donald Trump on Friday reversed sanctions imposed on North Korea by the U.S. Treasury Department just a day earlier and the White House said he was doing so because he "likes" North. . .  Full story

U.S. Treasuries signal trouble, stocks fall on global growth worries

22/03 Stocks around the world fell and U.S. Treasuries yields sent warning signals for a possible recession on Friday after weaker-than-expected U.S. and European data intensified fears of a global economic slowdown.. . .  Full story

Wall St tumbles on global economic slowdown fears

22/03 Wall Street stocks sold off sharply on Friday, with all three major U.S. stock indexes posting their biggest one-day percentage declines since Jan. 3, as weak factory data from the United States and Europe. . .  Full story

Autonomy founder Lynch set for $5 bln Hewlett-Packard court showdown

22/03 Mike Lynch, once hailed as Britain's answer to Bill Gates, faces Hewlett-Packard (HP) in London's High Court on Monday in a multi-billion dollar showdown over the U.S. technology company's 2011 purchase of the Autonomy software. . .  Full story

Canada optimistic about making progress to end China canola ban -PM

22/03 Canada is optimistic it can make progress this year in talks to persuade China to allow imports of Canadian canola seed to resume, Prime Minister Justin Trudeau said on Friday, even as tensions between. . .  Full story

Ireland kicks off hunt for successor to ECB-bound central bank chief

22/03 Ireland began the search for a new central bank governor after Philip Lane was appointed on Friday to the European Central Bank's executive board by European Union leaders.. . .  Full story

U.S. adds criminal charges against ex-Autonomy CEO Lynch

22/03 U.S. prosecutors on Friday added three new criminal charges to their indictment against British entrepreneur Mike Lynch related to the $11.1 billion sale of his software company Autonomy to Hewlett-Packard in 2011.. . .  Full story

EU to drop threat of Huawei ban but wants 5G risks monitored - sources

22/03 The European Commission will next week urge EU countries to share more data to tackle cybersecurity risks related to 5G networks but will ignore U.S. calls to ban Huawei Technologies, four people familiar with the. . .  Full story

Yield curve inverts for 1st time since 2007 on global growth worries

22/03 U.S. markets received a clear warning of coming recession on Friday when the spread between yields on three-month Treasury bills and 10-year notes fell below zero for the first time since 2007 after U.S. manufacturing. . .  Full story

In foreboding sign for U.S. economy, factory sector softens

22/03 U.S. manufacturing activity unexpectedly cooled in March, a troubling sign for the economy although the housing market showed signs lower interest rates were giving it a boost.. . .  Full story

Corn marches to 3-1/2-week high on China buying, U.S. flood worries

22/03 U.S. corn futures rose to a 3-1/2-week high on Friday as China booked its largest purchase of the grain in more than 5 years and as flooding in the western U.S. Midwest raised concerns. . .  Full story

Oil dips further from 2019 highs on demand worries

22/03 Oil fell about 2 percent on Friday, slipping further from 2019 highs as focus shifted to a lack of progress in U.S.-China trade talks and as grim manufacturing data from Germany and the U.S.. . .  Full story

Dollar sinks vs yen as U.S. Treasury curve flashes warning

22/03 The dollar fell against the safe-haven Japanese yen on Friday as dismal U.S. manufacturing data fueled worries about the wider economy, and Treasury bond yields signaled growing fears of a recession.. . .  Full story

Colombia's central bank holds interest rate

22/03 Colombia's central bank held its key interest rate steady on Friday, a decision that may extend through year-end as policymakers see an "especially quiet" 2019 with inflation hovering just above the long-term goal amid moderate. . .  Full story

Turkish lira tumbles in echoes of last year's meltdown

22/03 Turkey's lira plunged more than 4 percent against the U.S. dollar on Friday, its biggest one-day fall since a currency crisis took hold in August, raising concerns that Turks are buying more foreign cash. . .  Full story

Chemicals leak at Houston-area petrochem fire prompts new travel restrictions

22/03 An earthen barrier holding chemicals that leaked from a massive petrochemical fire outside Houston breached on Friday, prompting restrictions on travel around the site, part of the busiest U.S. oil export port.. . .  Full story

U.S. Customs details China pork seizure; importers could pay fine

22/03 U.S. border agents said they have seized 1 million pounds (453,592 kg) of food products from China this month, rather than 1 million pounds of pork as they had previously announced, as they work. . .  Full story

Floods shut nearly a sixth of U.S. ethanol production

22/03 Massive flooding in the U.S. Midwest has knocked out roughly 13 percent of the country’s ethanol production capacity, as plants in Nebraska, Iowa and South Dakota have been forced to shut down or scale back. . .  Full story

Planned U.S. oil storage boom faces new scrutiny after tank-farm fire

22/03 A three-day petrochemical fire that spread a cancer-causing chemical and thick smoke over Houston suburbs this week has spurred calls for tougher safety regulations that could affect a nearly dozen crude-export terminals proposed for the. . .  Full story

SOFTS-Arabica falls to new lows, sugar inches up

22/03 Arabica coffee futures on ICE fell on Friday, pressured by excess supplies and a weaker currency in Brazil, while raw sugar inched higher. COFFEE. . .  Full story

Brazilian graft probe puts Swedish firm AF under microscope

22/03 The arrest of a former Brazilian president on corruption charges is raising questions about how a Swedish consulting company won a contract to help build a nuclear power plant at the center of what. . .  Full story

Brazil markets lashed as storm clouds gather over Bolsonaro

22/03 Standing beside U.S. President Donald Trump on a crisp afternoon outside the White House in Washington this week, a smiling Brazilian President Jair Bolsonaro enjoyed a moment in the sun.. . .  Full story

Key trade official Willems to leave White House in midst of China talks

22/03 Clete Willems, a top trade official in President Donald Trump's White House who has been a key figure in negotiations with China, is leaving in the coming weeks to spend more time with his. . .  Full story

Gold gains as growth concerns dent risk appetite

22/03 Gold prices rose on Friday as weak economic data from the euro zone exacerbated fears of a global slowdown, weighing on risk sentiment and putting bullion on track for its best week in nearly. . .  Full story

U.S. government posts $234 billion deficit in February

22/03 The U.S. federal government posted a $234 billion budget deficit in February, according to data released on Friday by the Treasury Department.. . .  Full story

China buys most U.S. corn in 5-1/2 years as trade war persists

22/03 Chinese importers booked their largest U.S. corn purchase in at least 5-1/2 years, the U.S. Department of Agriculture (USDA) said on Friday, a rare sale of the grain in the middle of the U.S.-China. . .  Full story

African Development Bank, GE reach settlement on Alstom misconduct

22/03 The African Development Bank Group said on Friday that two General Electric Co subsidiaries would be temporarily barred from bidding on power contracts as part of a settlement of misconduct cases.. . .  Full story

BlackRock to buy French software firm eFront for $1.3 bln in cash

22/03 BlackRock Inc, the world's biggest asset manager, said on Friday it would buy French investment software provider eFront from private equity firm Bridgepoint and eFront employees for $1.3 billion in cash.. . .  Full story

Global growth rebound hopes hit by weak factory data

22/03 Manufacturers in Europe, Japan and the United States suffered in March as surveys showed trade tensions had left their mark on factory output, a setback for hopes the global economy might be turning the. . .  Full story

Flacks drops plans to bid for Britain's Laura Ashley

22/03 Flacks Group said on Friday it would not make an offer for Laura Ashley Holdings, nearly a month after the British fashion retailer dismissed an unsolicited takeover offer from the investment firm.. . .  Full story

Copper has worst week since December as dollar firms

22/03 Copper prices fell on Friday as weak European and U.S. factory data spread gloom about the global economic outlook and strengthened the dollar.. . .  Full story

European shares deepen losses on slew of dismal PMIs

22/03 European stock markets deepened losses on Friday, closing near session lows, as fears of a slowdown in global growth after weak manufacturing data from across Europe were exacerbated by dismal data from the United. . .  Full story

U.S. oil drillers cut rigs for fifth week in a row -Baker Hughes

22/03 U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent producers follow through on plans to. . .  Full story

FTSE sinks as Brexit relief spurs sterling, weak activity data weighs

22/03 London's FTSE 100 retreated from multi-month highs to endure its worst day so far this year as a surge in the pound weakened exporter stocks and poor manufacturing data from the euro zone and. . .  Full story

UK yield curve nears flattest since 2008 on global bond rally

22/03 British government bond prices soared for a third day on Friday as global investors scaled back growth and interest rate bets, pushing 30-year gilt yields to their lowest since October 2016 and the yield. . .  Full story

German Bund yield crashes below zero for first time since 2016 on bleak data

22/03 Germany's 10-year bond yield dived below zero percent on Friday for the first time since October 2016, as a survey showing German manufacturing contracted for a third straight month fuelled fears about a widespread European. . .  Full story

EU leaders call for end to "naivety" in relations with China

22/03 European Union leaders called for an end to naivety on Friday in relations with Beijing and said China was a competitor whose markets were not sufficiently open, although they did not spell out specifically. . .  Full story

Tiffany sticks to 2019 targets, helped by e-commerce; shares rebound

22/03 Luxury retailer Tiffany & Co said Friday it expected earnings growth to resume in the second half of the year, helped by a healthy e-commerce business, a forecast that allowed investors to look past. . .  Full story

Italy considering compensation claim against EU over bank rescue -Conte

22/03 Italy is considering compensation claims against the European Commission for the strict interpretation it gave to EU banking rules, the Italian prime minister said on Friday, after a landmark EU ruling this week over a. . .  Full story

Power firms agree on route to close Spain's oldest nuclear plant

22/03 Spain's main electricity providers have reached an agreement to renew the life of the country's oldest nuclear plant until its planned closure, the company operating the site said on Friday.. . .  Full story

Trump says he will nominate former campaign adviser Moore for Fed

22/03 U.S. President Donald Trump said on Friday he planned to nominate former campaign aide and conservative economic commentator Stephen Moore for a seat on the Federal Reserve's Board of Governors.. . .  Full story

Nokia plays down compliance issues after shares drop

22/03 Nokia sought to play down the risks of an investigation into compliance issues at its Alcatel-Lucent business after its shares fell sharply on Friday.. . .  Full story

Polish regulator lowers power distribution tariffs

22/03 Poland's energy market regulator URE approved on Friday lower electricity distribution tariffs for 2019 but turned down requests from energy firms to hike power prices after new legislation imposed a price cap.. . .  Full story

Commerzbank CEO sees strong investment bank as good fit - source

22/03 Commerzbank's chief executive believes a strong and focused investment bank would be a good addition to the lender, according to a person familiar with his thinking on Friday.. . .  Full story

Confusion, grief as hunt for remains from Ethiopia crash halted

22/03 A child's foot. Fingers. A passport.. . .  Full story

UK's Clark says government will allow lawmakers indicative Brexit votes

22/03 Britain's business minister Greg Clark said on Friday that the government would allow parliament to hold votes to indicate what Brexit plans might be able to command the support of a majority of lawmakers.. . .  Full story

Russia holds key rate at 7.75 pct, says cuts possible in 2019

22/03 The Russian central bank kept interest rates unchanged on Friday but said it could lower the key rate later this year if inflation eases in line with expectations and no major shocks occur in. . .  Full story

Sterling rallies as Britain gets last chance for orderly Brexit

22/03 Sterling rallied on Friday, helped by a weaker euro and after European Union leaders gave UK Prime Minister Theresa May a two-week reprieve to decide how Britain will leave the European Union.. . .  Full story

GM confirms plans to build new EV, invest $300M in Michigan plant

22/03 General Motors Co confirmed on Friday it will invest $300 million in a suburban Detroit assembly plant, adding 400 jobs to build a new Chevrolet electric vehicle.. . .  Full story

Watches of Switzerland has further U.S. acquisitions in its sights

22/03 Watches of Switzerland expects to make further acquisitions in the United States, which it first entered in 2017 with the purchase of jeweller Mayors, its chief executive told Reuters.. . .  Full story

Hankook workers end strike for higher wages in Hungary

22/03 A 10-day strike for higher wages at South Korea's Hankook Tire Co Ltd plant in Hungary ended with an agreement late on Thursday, the company said on Friday.. . .  Full story