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US Business

Gold hits 2018 low as trade comments lift stocks, dollar

21/05 Gold marked a new low for the year on Monday after U.S. Treasury Secretary Steven Mnuchin's declaration that a trade war between China and the United States was "on hold" helped boost appetite for higher risk assets such as stocks and the dollar.  Full story

Militia kills five in attack on Banro Corp's east Congo gold mine

23h41 A Mai Mai militia attacked Banro Corp's east Congo Namoya gold mine with rifle and artillery fire on Thursday, a Banro geologist at the mine said, killing five people and wounding several others in. . .  Full story

Five killed, including 2 Congolese security forces, in Banro attack

23h32 Five people were killed, including two Congolese security forces, and several company workers wounded in an attack on Banro Corp's east Congo gold mine, a Banro official told Reuters.. . .  Full story


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US STOCKS-Wall St dips after Trump cancels N.Korea summit; Netflix gains

23h08 U.S. stocks ended down slightly on Thursday after President Donald Trump canceled a planned summit with North Korea's Kim Jong Un and threatened to impose tariffs on auto imports, though losses were limited by. . .  Full story

Wheat eases after dry weather lifts prices to 10-month highs

22h58 U.S. wheat futures eased from 10-month peaks on Thursday as profit-taking eroded early gains stemming from dry weather in the U.S. Plains and other major growing areas around the world.. . .  Full story

Autodesk forecasts second-quarter profit below estimates

22h23 Autodesk Inc forecast second-quarter profit on Thursday below Wall Street expectations, sending the AutoCAD software maker's shares down nearly 4 percent in extended trading.. . .  Full story

Trump threat of auto tariffs opposed by auto industry, Republicans

22h17 President Donald Trump's threat to impose tariffs on auto imports drew strong criticism abroad and at home where U.S. business groups and members of his own Republican Party warned of damage to the industry. . .  Full story

Petrobras pricing pressure spooks potential refinery buyers- sources

21h54 A surprise decision by Brazil's state-controlled oil company Petroleo Brasileiro SA to cut diesel prices in response to truckers' protests is worrying some potential buyers of Petrobras' refineries, three people with knowledge of the matter. . .  Full story

Oil slips further below $80/bbl on talk OPEC may lift output

21h41 Oil prices fell about $1 on Thursday, with expectations building that reduced supplies from Venezuela and Iran could prompt OPEC to wind down output cuts in place since the start of 2017.. . .  Full story

Canada blocks China firm's takeover of Aecon on national security grounds

21h07 Canada has blocked a Chinese state firm's proposed C$1.5 billion ($1.2 billion) takeover of construction company Aecon Group on national security grounds, underscoring rising wariness of Chinese firms buying up assets in Western countries.. . .  Full story

Online lending platform GreenSky edges higher on market debut

20h57 GreenSky LLC, an online platform for consumers to get loans for home improvements or cosmetic surgery, made its market debut on Thursday, with shares rising slightly above the initial public offering price.. . .  Full story

U.S. Treasury yields fall on North Korea concerns

20h47 U.S. Treasury yields fell on Thursday on safety buying after President Donald Trump called off a planned summit with North Korean leader Kim Jong Un and as the Turkish lira renewed its decline.. . .  Full story

Total chief says holds little hope for Iran waiver

20h29 The chief executive of French oil and gas major Total on Thursday said he held little hope of receiving a waiver from the United States to keep investing in a huge Iranian gas project.. . .  Full story

Electric vehicles seen driving cobalt crunch by mid-2020s

20h16 The increasing popularity of electric vehicles may create a crunch for supplies of cobalt in the early-to-mid 2020s, miners and analysts say, adding that small operators trying to start up mines outside Africa could play. . .  Full story

U.S. regulator raps VW's culture change -Handelsblatt

20h01 A U.S. Environmental Protection Agency official said he is not satisfied with Volkswagen's efforts to improve accountability after its diesel emissions fraud, German newspaper Handelsblatt reported on Thursday.. . .  Full story

UAW accuses Musk of threatening Tesla workers over unionization

19h41 The United Auto Workers union (UAW) has filed a complaint accusing Tesla Inc Chief Executive Elon Musk of illegally threatening to take away benefits from workers who join the union.. . .  Full story

Republicans in U.S. Congress slam Trump probe of auto imports

19h37 Some of President Donald Trump's fellow Republicans in the U.S. Congress said on Thursday that his administration's national security investigation of car and truck imports amid a trade spat with China is being pursued under. . .  Full story

Latvia warns its clampdown is pushing hot money to Europe

19h15 Latvia has warned the European Union to bolster fragmented money laundering controls as much of the cash now leaving the Baltic state to escape tighter scrutiny is going to other EU countries.. . .  Full story

EU nears deal on banking capital rules, risk of delay over Italy

18h51 European Union finance ministers are likely to agree on Friday to new banking capital rules in a major step toward enhancing EU financial stability, but the deal could be delayed because Italy's political crisis, EU. . .  Full story

Trump signs bill easing U.S. bank rules into law

18h32 U.S. President Donald Trump signed into law on Thursday a bill that would ease rules on most banks for the first time since the 2007-2009 financial crisis.. . .  Full story

Morgan Stanley shareholders side with board at annual meeting

18h31 Morgan Stanley shareholders sided with the company's board on all votes taken at their annual meeting on Thursday, electing the slate of directors and endorsing the company's compensation of top executives.. . .  Full story

Winners and losers from U.S. banking rule rewrite

18h23 President Donald Trump on Thursday signed into law the first rewrite of U.S. banking rules introduced following the 2007-2009 financial crisis.. . .  Full story

Tight supply weighs on U.S. home sales; job market strengthening

18h18 U.S. home sales tumbled in April as an acute shortage of properties limited choices for potential buyers, the latest sign that the housing market was struggling to regain momentum.. . .  Full story

U.S. lawmakers were briefed on China's ZTE - senator

18h13 U.S. Senator Bob Corker, the chairman of the Foreign Relations Committee, said on Thursday that he and other lawmakers had been briefed on Wednesday evening about the Chinese telecommunications firm ZTE Corp .. . .  Full story

Tariffs on auto imports could hurt U.S. jobs, raise consumer costs -Toyota

18h11 Japanese automaker Toyota Motor Corp said on Thursday that imposing tariffs on imported vehicles "could hurt American jobs" and boost consumer costs.. . .  Full story

Europe can expect only modest trade deal with U.S. - EU trade chief

17h59 The European Union's trade chief described on Thursday the lack of a full trade accord between the bloc and the United States as ridiculous, but said the best that could be expected now was. . .  Full story

Polyus expects 2018 gold output at top of forecast range

17h04 Polyus, Russia's largest gold producer, said on Thursday 2018 production was likely to be at the upper end of its forecast range of 2.375-2.425 million troy ounces.. . .  Full story

U.S. existing home sales drop 2.5 percent in April

16h00 U.S. home sales dropped more than expected in April as a shortage of properties for sale continued to weigh on the market.. . .  Full story

IGC sees global grain supplies at 3-year low on tighter stocks

15h23 Global grain supplies are poised to fall to a three-year low in the 2018/19 season due to a drawdown in stocks coupled with a slight dip in output, the International Grains Council (IGC) said. . .  Full story

U.S. Commerce chief: hard to get back to fair deal over autos

14h52 U.S. Commerce Secretary Wilbur Ross on Thursday said a U.S. national security probe of car and truck imports was still in its early stages but that other countries' high, artificial barriers such as tariffs. . .  Full story

Merkel woos China as Trump poses new trade challenge

14h43 China said on Thursday it would "open its door wider" to German businesses, giving a warm reception to visiting Chancellor Angela Merkel, who has wooed Beijing to counterbalance trade threats from U.S. President Donald Trump.. . .  Full story

Car imports probe gives GM, Ford shares tiny lift

14h22 Shares of General Motors and Ford inched only marginally higher before the bell on Thursday after the Trump administration launched a national security probe into car imports which could lead to new tariffs on foreign. . .  Full story

U.S. could seek American compliance officers at ZTE -Ross

14h17 The United States has not made a final decision on changes to its ban on ZTE Corp , but any alternative remedy could include installing U.S. compliance officers at the Chinese telecoms company, Commerce Secretary. . .  Full story

BAWAG seeks retail partnerships to increase consumer loans

13h41 BAWAG Group aims to reach its medium-term growth targets thanks to more takeovers in the German speaking world and new retail partnerships that will strengthen its consumer business, the Austrian bank said on Thursday.. . .  Full story