News Wire

Russia’s Alrosa sells stake in Botswana diamond joint venture

15/11 Botswana Diamonds said it had bought joint venture partner Alrosa out of Sunland Minerals and was in talks about selling a stake in the project to another partner.  Full story

Exit of Flipkart CEO adds to fears in Corporate India about sexual misconduct

01h00 In 2015, when Antony Alex pitched his training products for tackling sexual harassment in the workplace, large and small businesses in India mostly turned him away saying it was not worth the investment.. . .  Full story

Tankers storing LNG in Asian waters double as pre-winter demand disappoints

01h00 Tankers storing liquefied natural gas (LNG) in Asian waters have more than doubled in number since late October as traders have been caught off guard by warmer-than-expected temperatures that have capped demand and pulled down. . .  Full story

PetroChina's gas marketing consolidation worries independent sellers - sources

01h00 PetroChina will merge its wholesale natural gas sales unit with retail provider Kunlun Energy to shore up profits though the move worries independent gas sellers that fear the combination will create a monopoly.. . .  Full story

Dell sweetens tracking stock offer, Icahn drops opposition

00h54 Dell Technologies on Thursday raised its offer to buy back shares tied to its interest in software maker VMware to $23.9 billion from $21.7 billion, prompting billionaire investor Carl Icahn to abandon his campaign. . .  Full story

California judge orders next Monsanto weed-killer cancer trial for March

00h52 A California judge on Thursday granted an expedited trial for March in the case of a California couple suffering from cancer who sued Bayer AG's Monsanto unit, alleging the company's glyphosate-containing weed killer Roundup caused. . .  Full story

Nvidia shares slide 17 pct as cryptocurrency demand vanishes

00h46 Chip designer Nvidia Corp on Thursday forecast sales for its fiscal fourth quarter well below Wall Street expectations, pinning the blame on unsold chips piling up with distributors and retailers after the evaporation of the. . .  Full story

Nordstrom's full-price same-store sales miss estimates, shares tumble

00h28 Department store operator Nordstrom Inc on Thursday reported lower-than-expected quarterly full-price comparable store sales, as fewer people visited its stores and bought items at full price, sending its shares down 9 percent.. . .  Full story

Latam FX firm as Mexico raises rates, could hike again

00h19 Latin American currencies gained on Thursday, with Mexico's peso firming 0.9 percent as the country's central bank made hawkish comments after an interest rate hike and warned that the incoming government's policies could fan inflation.. . .  Full story

Mexico central bank sends warning over incoming leftist government

15/11 Mexico's central bank raised its benchmark interest rate on Thursday on concerns over inflation, and said the incoming government's policies risked fanning inflation in a strongly worded warning to President-elect Andres Manuel Lopez Obrador.. . .  Full story

Nvidia forecasts revenue below estimates, shares slump 17 pct

15/11 Chip designer Nvidia Corp missed third-quarter sales estimates and forecast current-quarter revenue below Wall Street expectations on Thursday, sending its shares down nearly 17 percent.. . .  Full story

Wall Street climbs on hopes of easing trade tensions

15/11 U.S. stocks rose on Thursday on optimism the United States and China could resolve their trade dispute, after a news report said Washington would pause further tariffs on Chinese imports.. . .  Full story

World stocks rebound, Brexit blow-up levels sterling

15/11 A gauge of global stocks climbed on Thursday after five sessions of declines as Wall Street surged on trade optimism, while sterling tumbled as political developments in Britain rippled through markets.. . .  Full story

Fed's Kashkari sticks to view that rates do not need to rise

15/11 The Federal Reserve should hold off on raising U.S. interest rates to allow more workers to get jobs, adding that the central bank can always raise rates to head off inflation if it starts. . .  Full story

Australian shares set to strengthen, New Zealand rises

15/11 Australian shares are likely to track their Wall Street peers higher on Friday after reports of possible leeway in the Sino-U.S. trade standoff helped risk appetite. The local share price index. . .  Full story

Emerging markets 2019 outlook broadly stable -Moody's

15/11 The outlook for emerging markets is broadly stable for 2019, even as they are set to face increased challenges from slower global growth, rising interest rates, trade protectionism and geopolitical tensions, Moody's Investors Service said. . .  Full story

Brexit fears pummel sterling; lift yen, dollar

15/11 Sterling tumbled on Thursday after British ministers resigned in protest against a draft Brexit agreement, rekindling fears of a chaotic departure for Britain from the European Union in 4-1/2 months. The. . .  Full story

Oil rebounds on lower U.S. stockpiles, possible drop in OPEC supply

15/11 Oil futures rose for the second consecutive session on Thursday after this week's steep losses as U.S. fuel stockpiles declined and a possible cut in OPEC output helped support prices.. . .  Full story

Prices rise on Brexit worries; focus on U.S. stocks

15/11 U.S. Treasury prices drifted higher on Thursday, sending yields to two-week lows across the curve, as Britain's draft agreement to exit the European Union ran into trouble, prompting investors to seek the safety of government. . .  Full story

Addepar CEO says investors want better returns, fear volatility

15/11 High net worth investors are increasingly eager to move piles of cash into higher-yielding assets, but recent volatility in stock and bond markets has made that task more complicated, the chief executive of data. . .  Full story

Erich Hampel to step down as chair of UniCredit Bank Austria

15/11 Italian lender UniCredit on Thursday said that its Austrian business's Chairman Erich Hampel has resigned from the Board and will also step down from all other functions within the group.. . .  Full story

U.S. soybeans end firm as hopes build for China talks

15/11 U.S. soybean futures firmed on Thursday, supported by renewed optimism that the United States and China, the world's largest soybean buyer, will resume trade talks. Chicago Board of Trade January soybeans. . .  Full story

Wells Fargo plans 1,000 U.S. job cuts

15/11 Wells Fargo & Co said on Thursday it notified about 1,000 employees in its Consumer Lending and Payments, Virtual Solutions and Innovations groups of plans to eliminate their positions.. . .  Full story

USTR Lighthizer denies he said China tariffs on hold

15/11 U.S. Trade Representative Robert Lighthizer on Thursday denied a report that he had told some industry executives that another round of tariffs on Chinese imports had been put on hold as the two nations. . .  Full story

Incoming Mexican government has little room for error -adviser

15/11 An adviser to Mexican president-elect Andres Manuel Lopez Obrador sought on Thursday to reassure investors in New York, following weeks of upheaval in Mexican financial markets and doubts about the policies of the incoming left-leaning. . .  Full story

Silicon eyed as way to boost electric car battery potential

15/11 The race to build a better electric car battery is turning to silicon, with several companies working to engineer types of the material that can boost driving range and cut production costs.. . .  Full story

U.S. Senate votes to confirm Fed governor nominee Bowman

15/11 The U.S. Senate on Thursday voted to confirm Michelle Bowman to the Federal Reserve's Board of Governors, cementing a majority at the board for officials picked by President Donald Trump.. . .  Full story

DoubleLine Capital LP warns on U.S. investment-grade bonds

15/11 DoubleLine Capital LP portfolio manager Monica Erickson has a problem. She thinks the investment-grade corporate bond market, which is her specialty, is the worst place to be for bond investors.. . .  Full story

Climate change, steel, migration bedevil G20 communique

15/11 Climate change, steel and migration have emerged as sticking points in the final communique that world leaders will issue at the end of the Group of 20 summit in Argentina later this month, an. . .  Full story

U.S. Gulf Coast crude imports fall to 1-year low as exports surge

15/11 U.S. Gulf Coast crude oil imports in October fell to the lowest level in more than a year as the nation's production and exports soared, data from Refinitiv Eikon and market intelligence firm Kpler. . .  Full story

U.S. shale surge boosts industry finances, puts deals in spotlight

15/11 If OPEC thought the 26 percent drop in oil prices since October might rein in U.S. shale production like the last sharp drop did four years ago, it might have to think again.. . .  Full story

Defaulted Nordic power trader reaches agreement with creditors

15/11 Norwegian power trader Einar Aas has reached an agreement with creditors, including Nasdaq Clearing, after his default in September forced members of the clearing house to stump up around 100 million euros ($113 million) to. . .  Full story

Gold nears one-week high on Brexit deal logjam

15/11 Gold hit a near one-week peak on Thursday as investors sought cover from market turmoil after Britain's long-awaited draft agreement to leave the European Union was thrown into chaos, helping the metal hold its. . .  Full story

Ukraine PM upbeat on IMF loan in December after budget passes

15/11 Ukrainian Prime Minister Volodymyr Groysman expects to get new loans from the International Monetary Fund as early as December once parliament passes a budget of stability that refrains from making pre-election populist moves, he said. . .  Full story

Business bosses alarmed as resignations imperil Brexit deal

15/11 Business leaders expressed growing alarm on Thursday as a draft Brexit agreement seen as the only chance of preserving some stability in UK-EU trading threatened to unravel, sending stock prices and the pound plunging.. . .  Full story

Amazon to get billions in breaks for HQ2 development

15/11 Inc said on Tuesday it had split its $5 billion second headquarters into two projects that would be located in the Long Island City neighborhood of New York City's Queens borough and a. . .  Full story

U.S. big investors' best investment ideas for 2019

15/11 The best investment ideas for 2019 range from buying local currencies in emerging markets to picking up beaten-down casino stocks to holding on to bank loans, according to investors who appeared this week at. . .  Full story

Zinc rallies as stocks slide, China-U.S. trade tensions ease

15/11 Zinc rallied on Thursday, supported by sliding stockpiles and signs China may be taking steps to de-escalate its trade dispute with the United States.. . .  Full story

French court to rule on $6 bln UBS trial on Feb. 20

15/11 A French court said on Thursday it would hand down a verdict in the money laundering trial of UBS on Feb. 20, at the end of weeks of hearings during which the Swiss bank. . .  Full story

Ailing Astaldi gets non-binding bid from Italian building firm Salini

15/11 Italian construction company Salini Impregilo said on Thursday it had presented a non-binding expression of interest for Astaldi, which has filed for creditor protection.. . .  Full story

British stocks battered on Brexit deal backlash, exporters gain

15/11 British shares suffered and sterling tumbled on Thursday as the growing risk of a disorderly divorce from the European Union spooked investors, with leading index the FTSE 100 moving for most of the day. . .  Full story

Paulson seeks immediate resignation of Detour Gold's CEO

15/11 Hedge fund Paulson & Co on Thursday called for the immediate resignation of Detour Gold Corp's interim Chief Executive Officer Michael Kenyon and board member Alex Morrison, adding it does not favor a fire. . .  Full story

Pound dives as UK PM May fights for survival

15/11 Sterling tumbled on Thursday after a series of resignations rocked British Prime Minister Theresa May's government and threw into doubt her long-awaited Brexit agreement just hours after it was unveiled.. . .  Full story

U.S. retail sales rebound, but consumer spending slowing

15/11 U.S. retail sales rebounded sharply in October as purchases of motor vehicles and building materials surged, but data for the prior two months was revised lower and the underlying trend suggested that consumer spending was. . .  Full story

European bourses sink as Brexit crisis unfolds

15/11 European shares reversed early morning gains and fell to two-week lows on Thursday in a broad-based selloff as British Prime Minister Theresa May's government was plunged into crisis over Brexit.. . .  Full story

Emerging banks hike interest rates to battle inflation, weak currencies

15/11 Policy makers in Indonesia and The Philippines hiked interest rates on Thursday as central banks in developing countries face the fallout from the strong dollar, struggle to contain inflation and battle to shore up their. . .  Full story

J.C. Penney gives gloomy outlook before holidays

15/11 J.C. Penney Co Inc predicted a fall in same-store sales this year as it prepared for the holiday shopping season, reporting worse than expected quarterly results on Thursday due to heavy discounting aimed at. . .  Full story

UK bond yields nosedive as PM May's fate hangs in balance

15/11 British gilt yields plunged on Thursday, posting their biggest fall since just after 2016's Brexit vote as Prime Minister Theresa May's premiership hung in the balance. The turmoil forced Britain's debt. . .  Full story

Investors tout "value" stocks, cash as market outlook darkens

15/11 Fund managers are touting investments in "value" stocks, U.S. bonds and cash dollars in 2019 to weather an expected slowdown in global growth led by the United States and a possible pause in interest. . .  Full story

U.S. crude stocks build the most in a week since Feb 2017 - EIA

15/11 U.S. crude oil stocks posted the biggest weekly build in nearly two years last week as production hit a new record high and the government released more barrels from its reserve, the Energy Information Administration. . .  Full story

Israel inflation holds steady at 1.2 percent rate in October

15/11 Israel's annual inflation rate rose for the 14th straight month in October, data from the Central Bureau of Statistics showed on Thursday, holding steady from September and remaining within the government's target range.. . .  Full story

-UK regulators call banks after Brexit woes hammer pound, financial stocks

15/11 British financial regulators were in contact with major banks on Thursday asking for feedback on market conditions after the pound and financial stocks sank following the resignation of Britain's chief Brexit negotiator, sources said.. . .  Full story

Credit Suisse denies plans for a new wave of job cuts

15/11 Credit Suisse denied on Thursday a news report saying it was planning a new wave of job cuts.. . .  Full story

-Dell sweetens VMware tracking stock offer with higher price, board seat

15/11 Dell Technologies on Thursday raised its offer to buy back shares tied to its interest in software maker VMware to $120 per share, sweetening the deal for shareholders with an additional $5 billion in. . .  Full story

Brexit turmoil boosts demand for safe-haven German bonds

15/11 Top-rated German government bond yields tumbled to over two-week lows on Thursday after British Brexit Secretary Dominic Raab resigned, thrusting Prime Minister Theresa May's government into turmoil after she clinched a Brexit deal.. . .  Full story

Cabin crew at Lufthansa's Eurowings threaten industrial action

15/11 Cabin crew at Lufthansa's budget carrier Eurowings are preparing industrial action after rejecting an offer from management on a labour deal, German union Verdi said on Thursday.. . .  Full story

Pakistan reserves decrease $196 mln to $7,483 mln week ending Nov 9

15/11 Pakistan's foreign exchange reserves decrease $196 million to $7,483 million in the week ending Nov 9, compared to $7,679 million in the previous week, central bank said on Thursday. RESERVES. . .  Full story

Jet Airways shares soar on reports deal with Tata is close

15/11 Shares in India's Jet Airways Ltd jumped 25 percent on Thursday following media reports that the debt-laden airline was nearing a rescue deal with Indian conglomerate Tata Sons Ltd.. . .  Full story

HSBC, CIC in talks on 1 bln stg fund to invest in Britain

15/11 HSBC and China Investment Corp are in talks to create a fund for the Chinese sovereign wealth fund to invest in companies in Britain that have business links with China, HSBC said on Thursday.. . .  Full story

TSX rises on gains in material shares

15/11 Canada's main stock index rose on Thursday, driven by gains in material shares on the back of rising gold and metal prices, along with news on the possibility of a "free trade deal" between. . .  Full story

German regional govt expects to appeal Essen, Gelsenkirchen driving bans

15/11 The environment minister of the German state of North Rhine-Westphalia (NRW) said she expected the regional government to appeal a court ruling that NRW must ban older diesel vehicles from parts of the nation's. . .  Full story

Mexico steady ahead of meeting, Argentine peso lower

15/11 The Mexican peso was steady against a strong dollar on Thursday ahead of a Bank of Mexico meeting when a rate rise is widely expected, while most other Latin American currencies fell as investors. . .  Full story

German cities ban older diesel cars

15/11 German cities are starting to introduce bans on older diesel vehicles that emit higher amounts of pollutants than later models after the country's highest administrative court in February confirmed such bans are permissible.. . .  Full story

UK must halt back-up power scheme after EU court ruling

15/11 Britain must halt a back-up power scheme aimed at avoiding electricity shortages pending a further investigation by European Union regulators, an EU court ruled on Thursday, which sent shares in UK energy companies tumbling.. . .  Full story

Ginnie Mae targets wider MBS investor base as Fed unwinds

15/11 A major issuer of U.S. mortgage-backed securities (MBS) is looking to expand its global investor base as the Federal Reserve, winding back years of monetary easing, divests its balance sheet of bond instruments.. . .  Full story

German court imposes diesel ban on western cities and motorway

15/11 A German administrative court on Thursday ruled that the western state of North Rhine-Westphalia must ban older diesel vehicles from parts of the nation's industrial heartland, including a busy motorway, in the latest extension of. . .  Full story

Mediclinic to cuts Swiss capex, open more outpatient surgery units

15/11 Mediclinic International Plc plans to reduce capex for its Swiss business, open more outpatient surgery units and medical centres in order to mitigate regulatory challenges in Switzerland's healthcare market.. . .  Full story

Tanzanian cashew price hike could lead to global shortage, traders say

15/11 Tanzania's plan to buy the country's entire 2018 cashew nut crop could lead to a global shortage, with processors in Vietnam and India likely to be hit first, traders said.. . .  Full story

GRAPHIC-Oversupply fears cloud outlook for U.S. crude in 2019

15/11 The U.S. oil market is scrambling to adjust to a deep selloff over the last several weeks, with forward prices signaling a supply glut which could upend plans for producers and traders through 2019.. . .  Full story

Cineworld shares slide after it fails to lift outlook despite revenue rise

15/11 Cineworld Group Plc reported an 11.6 percent rise in revenue year to date on Thursday but its failure to raise its outlook disappointed some analysts and shares in the cinema operator fell 7 percent.. . .  Full story

GE hands leadership of Nigerian rail concession to Transnet

15/11 General Electric said on Thursday it has handed over the leadership of a consortium chosen to run a Nigerian rail concession to South Africa's Transnet after the U.S. company spun off its transport business.. . .  Full story

Bulgarian arms maker VMZ Sopot to start drone production

15/11 State-owned Bulgarian arms producer VMZ Sopot has signed a technology transfer contract with Israel's Aeronautics, allowing VMZ Sopot to start producing unmanned aerial vehicles (UAV), the economy ministry said on Thursday.. . .  Full story

Upset by Trump's Iran waivers, Saudis push for deep oil output cut

15/11 When U.S. President Donald Trump asked Saudi Arabia this summer to raise oil production to compensate for lower crude exports from Iran, Riyadh swiftly told Washington it would do so.. . .  Full story

Asda's sales growth outpaces potential buyer Sainsbury's

15/11 British supermarket chain Asda, owned by Walmart, reported a sixth straight quarter of underlying sales growth on Thursday, outpacing Sainsbury's , its potential buyer.. . .  Full story

Aker BP to control Norwegian oil platform from onshore next year

15/11 Aker BP said it will become the first oil company in Norway to control operations of a permanently manned offshore platform from land from next year.. . .  Full story

Heavyweight funds see ECB binning rate hike plans

15/11 Some of Europe's biggest money managers think the European Central Bank will be forced to shelve ambitions to hike interest rates next year, with some suspecting it might even get sucked back into bond. . .  Full story

France hopes to lure crypto-issuers with Gallic stamp of approval

15/11 With hundreds of cryptocurrencies being issued every month, countries face a choice: ban them, leave them unregulated, or come up with rules to tame them.. . .  Full story

The rolling bear market

15/11 The stock market bull has been running more or less since early-2009, with almost 200 percent in gains on world stocks at the start of 2018.. . .  Full story

C$ edges higher as oil price steadies, China-U.S. trade hopes grow

15/11 The Canadian dollar firmed against its broadly stronger U.S. counterpart on Thursday as oil prices stabilized and signs emerged that the United States and China were working to resolve a trade war.. . .  Full story

China-designed UK nuclear reactor plan clears second assessment stage

15/11 The first Chinese-designed atomic reactor for use in Britain moved a step closer to fruition on Thursday as the UK nuclear regulator said it had completed the second stage of its assessment of the. . .  Full story

GE passes Nigerian rail concession leadership to South Africa's Transnet

15/11 General Electric (GE) said on Thursday it has passed the leadership of a consortium picked to run a Nigerian rail concession to South Africa's Transnet after the U.S. firm exited its. . .  Full story

Asia Rice-Indian rates up on firmer rupee; Thai harvest to shore up stocks

15/11 Rice prices in top-exporter India nudged higher this week as the rupee firmed, while Thai exporters eyed fresh demand from the Philippines amid expectations of an increase in seasonal supply.. . .  Full story

Russia wants to steer clear of any OPEC-led oil production cut – sources

15/11 Russia wants to stay out of any oil-production cuts being touted by some of its partners in an OPEC-led supply pact, two high-ranking Russian sources told Reuters.. . .  Full story

Glencore's Katanga warns of earnings hit if Congo row not resolved

15/11 Katanga Mining expects its earnings to be hit if a row with Democratic Republic of Congo that has prevented it from importing and exporting copper is not resolved soon.. . .  Full story

Australian power grid prepared for hot summer, operator says

15/11 Australia has readied its stretched power grid to cope with a hotter-than-normal summer, with extra electricity supply lined up for the system in case of disruptions, the energy market operator said in a statement. . .  Full story

EU says banks could have more time to build buffers after Brexit

15/11 Euro zone banks which issued large amounts of loss-absorbing debt under English law could have more time to meet requirements after Britain leaves the European Union, the bloc's agency responsible to winding down failing lenders. . .  Full story

COLUMN-Natural gas looks like the IEA's big winner, but threats abound: Russell

15/11 There was something for everyone in the International Energy Agency's (IEA's) latest world energy outlook, but supporters of coal, renewables, and oil and gas are all likely to take away the wrong messages.. . .  Full story

Sri Lanka rupee falls to record low on continued political uncertainty

15/11 ** The Sri Lankan rupee fell to an all-time low on Thursday, continuing its record-setting spree, as political uncertainty outweighed the positive impact of a policy rate hike, sources said.. . .  Full story

Slovenian cenbank sees no major economic slowdown in EU

15/11 Slovenia's central bank currently sees no significant economic slowdown in the European Union, deputy governor Primoz Dolenc told Reuters on Thursday.. . .  Full story

UK government bond auction rocked by Brexit turmoil

15/11 Nerves among Britain government bond investors forced the country's debt agency to accept low-ball bids for a 20-year bond at auction on Thursday to an extent not seen since March 2009, as a wave. . .  Full story

Former UBS trader jailed for Britain's biggest fraud deported

15/11 Kweku Adoboli, a former UBS trader jailed for Britain's biggest fraud over unauthorised trades that cost the Swiss bank $2.3 billion, has been deported to Ghana, his spokesman said.. . .  Full story

Profits of Serbian utility EPS nearly double in Jan-Sept

15/11 Serbian power utility Elektroprivreda Srbije (EPS) said on Thursday its net profit nearly doubled in the first nine months of 2018 to 4 billion Serbian dinars ($38 million).. . .  Full story

German prompt tumbles on forecast rise in wind output

15/11 German spot electricity contracts for day-ahead delivery fell on Thursday on a forecast rise in wind power generation and lower demand, while the year-ahead position slipped, tracking the fall in carbon emissions permit prices.. . .  Full story

Jiangxi Copper, Antofagasta agree lower treatment charges for 2019

15/11 Chinese copper smelter Jiangxi Copper and miner Antofagasta have agreed 2019 copper treatment and refining charges (TC/RCs) at $80.80 a tonne and 8.08 cents a pound, three sources familiar with the matter said.. . .  Full story

UK signals plan to leave EU emissions trading scheme after Brexit

15/11 Britain is likely to leave the European Union's Emissions Trading System (ETS) after Brexit and set up its own equivalent system, UK government documents published late Wednesday show.. . .  Full story

RPT-Big-name investors favor U.S. equities over rest of world

15/11 U.S. equities will outshine their international counterparts over the coming year, despite slowing corporate profit growth and increased stock market volatility, several big-name investors said.. . .  Full story

At U.N. climate talks, Trump team plans sideshow on coal

15/11 The Trump administration plans to set up a side-event promoting fossil fuels at the annual U.N. climate talks next month, repeating a strategy that infuriated global-warming activists during last year's talks, according to three people. . .  Full story

Henkel still recovering after U.S. delivery problems

15/11 Henkel, owner of consumer brands including Persil detergent and Schwarzkopf shampoo, said it is still working to win back shelf space for its products in the United States after being hit by delivery problems early. . .  Full story

After weak Q3, Germany will not hit 2018 growth forecast - economists

15/11 The German government's forecast for growth of 1.8 percent this year is no longer achievable after the economy contracted in the third quarter for the first time since 2015, leading economic institutes said on. . .  Full story