News Wire

South Africa defence group Denel to seek investment partners: CEO

11h59 South Africa's state-owned defence group Denel could sell stakes in some divisions as part of a new strategy to return to profitability within two years, its chief executive said on Tuesday.  Full story

Allergan should explore selling itself - Appaloosa's Tepper

20h34 Billionaire hedge fund manager David Tepper stepped up pressure on Allergan Plc, saying on Tuesday the drugmaker should consider selling itself if management is unable to turn around recent lagging performance.. . .  Full story

Walmart holiday-quarter sales jump, says consumers still spending

20h32 Walmart Inc posted its strongest holiday quarter in at least a decade on Tuesday, boosted by higher grocery and e-commerce sales, and said it saw no signs of weakness in U.S. consumer spending despite. . .  Full story

Argentina's billion-dollar buying spree reins in peso, rates

20h32 Argentina's central bank, looking to rein in a stronger peso, has snapped up close to 1 billion U.S. dollars in the last month, helping trim back sky-high interest rates and top up dollar reserves. . .  Full story

Palladium eyes $1,500/oz in record surge; gold hits 10-mth high

20h27 Palladium scaled a record peak to within striking distance of the $1,500 level on Tuesday fuelled by a sharp supply deficit, while bullion rose 1 percent to hit a 10-month high on a. . .  Full story

Carl Icahn urges Caesars Entertainment to sell itself

20h19 Activist investor Carl Icahn on Tuesday urged Caesars Entertainment Corp to sell itself, after disclosing a 9.78 percent stake in the U.S. casino operator.. . .  Full story

BlackRock, KKR plan $4 bln-$5 bln investment in ADNOC pipeline unit - FT

20h15 U.S. investment firms BlackRock Inc and KKR & Co Inc are in advanced talks to take a $4 billion to $5 billion stake in Abu Dhabi National Oil Co's (ADNOC) pipeline network, the Financial. . .  Full story

U.S. wheat futures chafe on sluggish U.S. exports, soy sags

20h14 Chicago Board of Trade grain and soybean futures all soured on Tuesday as U.S. wheat sellers failed to nab any export sales and traders waited impatiently for news on the latest of talks on. . .  Full story

Wall St edges higher on Amazon, Walmart gains; trade talks in focus

20h14 U.S. stocks inched higher on Tuesday, led by Amazon and upbeat earnings from Walmart, while investors focused on the latest round of trade talks between the United States and China.. . .  Full story

EU raids salmon farmers in suspected cartel inquiry

20h08 Antitrust regulators raided salmon farms in several European Union countries on Tuesday, including some owned by Norway's Mowi, in a suspected cartel inquiry.. . .  Full story

U.S. wants pledge for stable Chinese yuan as talks resume -report

20h08 The United States is seeking to secure a pledge from China it will not devalue its yuan as part of an agreement intended to end the countries' trade war, Bloomberg reported on Monday.. . .  Full story

European lawmakers say NordLB rescue may involve state aid, urge EU probe

20h04 The recapitalisation of Germany's NordLB bank should be investigated by the European Commission as it likely involved state aid that might have violated European Union rules, two EU lawmakers said on Tuesday.. . .  Full story

German halt in Saudi arms sales hurting UK industry - Hunt

19h47 Britain has urged Germany to exempt big defence projects from its efforts to halt arms sales to Saudi Arabia or face damage to its commercial credibility, the German magazine Der Spiegel reported on Tuesday.. . .  Full story

EU insurance watchdog seeks to avoid Brexit no-deal disruption

19h46 Policies bought by European Union customers from British insurers would still be valid if the UK crashes out of the bloc next month with no deal, the EU's insurance watchdog said on Tuesday.. . .  Full story

Oil lingers around 2019 highs but demand worries weigh

19h42 Oil steadied on Tuesday after hitting 2019 highs as concerns about global crude oil demand, coupled with uncertainty over the latest round of U.S.-China trade talks, countered investor optimism around tightening supplies.. . .  Full story

Gold hits 10-month peak on hopes for US-China trade talks

19h41 Gold prices surged to a 10-month high on Tuesday, as the U.S. dollar weakened, on optimism for a breakthrough in U.S.-China trade talks, with bullion also receiving support as a safe-haven asset due to concerns. . .  Full story

Barclays hoped 2008 cash call would drive international growth, court told

19h38 Barclays believed deals with strategic investors during the 2008 financial crisis would help to provide a springboard for its international ambitions, the bank's former chairman told a London criminal trial on Tuesday.. . .  Full story

Sterling shoots above $1.30 on Brexit hopes in jittery session

19h33 Sterling shot past $1.30 on Tuesday on hopes that Prime Minister Theresa May will make progress in seeking changes to her Brexit deal with the European Union, although some traders struggled to explain the. . .  Full story

France, Cyprus bring syndicated bonds in supercharged market

19h32 France and Cyprus took full advantage of a market supercharged by expectations of more monetary stimulus from the European Central Bank to print syndicated bonds on Tuesday.. . .  Full story

HSBC, stronger pound pressure FTSE 100; Greggs outshines mid-caps

19h15 Britain's main index fell on Tuesday, weighed down by disappointing results from blue-chip heavyweight HSBC and a stronger pound, while mid-cap baker Greggs surged to a record high after guiding to higher full-year profits.. . .  Full story

Kerry forecasts 'grave' no-deal Brexit fallout for Irish food firms

19h09 Ireland's Kerry Group warned on Tuesday of "grave consequences" for Irish food producers if Britain leaves the European Union without a replacement trade deal.. . .  Full story

Copper hits 11-week peak on hopes for trade deal, soft dollar

19h07 Copper prices touched their highest in more than two months on Tuesday due to a weaker dollar and hopes that the United States and China would forge a trade deal.. . .  Full story

European shares slip from October highs as banks weigh

19h07 European shares dipped on Tuesday as a disappointing update from HSBC hit the heavyweight banking sector and a rally fuelled by optimism about a possible Sino-U.S. trade deal ran out of steam.. . .  Full story

U.S. Silica posts smaller-than-expected loss as industrial push pays off

18h45 U.S. Silica Holdings Inc reported a smaller-than-expected quarterly loss on Tuesday, driven by increased supply of sand to industries such as glass and construction as its main frac sand business slows.. . .  Full story

Honda to close British car plant as Brexit looms

18h36 Honda will close its only British car plant in 2021 with the loss of up to 3,500 jobs, a major departure of Japanese investment announced just over a month before the United Kingdom is. . .  Full story

Raw sugar hits 3-1/2 month top after white in technical push

18h31 Raw sugar futures on ICE climbed to a 3-1/2 month high on Tuesday in the wake of a similar peak for white sugar in London, as a technically driven rally continued, while coffee lost. . .  Full story

Germany, France agree proposals for euro zone budget - German media

18h26 Germany and France have agreed a proposal for a common euro zone budget to be used to reward countries that successfully implement economic reforms and to finance strategic investments, German media reported on Tuesday.. . .  Full story

Dollar slips on U.S.-China trade hopes, Swedish crown sags

18h21 The dollar on Tuesday fell against a basket of other currencies as traders scaled back their safe-haven greenback holdings on optimism that a fresh round of talks between China and the United States would. . .  Full story

U.S. consumers forecast more spending than a year ago -NY Fed

18h00 U.S. consumers expect to spend more money in 2019 than they did a year ago, data from the Federal Reserve Bank of New York showed on Tuesday.. . .  Full story

Aviva, NatWest to join "Brexodus" of business to EU

17h49 England's High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around 9 billion pounds ($11.69 billion) in assets to a new Irish company just before the starting gun is. . .  Full story

Yields fall with FOMC, U.S.-China trade talks in view

17h47 Treasury yields fell on Tuesday morning as trade talks between the United States and China neared their March 1 deadline and ahead of the release of minutes from the Federal Reserve's January policy-setting meeting.. . .  Full story

British farmers face Brexit date shipment conundrum

17h46 British farmers and food producers must decide whether to proceed with shipments next week because exports could face tariffs if Britain leaves the European Union without a deal, a farming leader said on Tuesday.. . .  Full story

Kellogg stocks up on Pringles, cereals for fear of 'hard Brexit'

17h39 As the possibility of a no-deal Brexit looms, Kellogg Co is taking measures to protect Britons from a potential shortage of Pringles, the UK's second-favorite brand of chips.. . .  Full story

Danske Bank pulls out of Russia, Baltics after money-laundering backlash

17h36 Danske Bank will pull out of Russia and the neighbouring Baltic states, the Danish lender said after Estonia ordered it to close the branch at the centre of one of the largest-ever money laundering scandals.. . .  Full story

China to expand agriculture reforms to bolster rural economy

17h28 China will deepen reforms of its agriculture sector to promote its rural economy, the government said in its first policy statement of 2019, as it seeks to bolster growth and offset trade challenges.. . .  Full story

HeidelbergCement sees easier 2019, CEO to step down

17h26 HeidelbergCement's long-standing CEO will step down next year before potentially moving to head the supervisory board in 2022, the German company said on Tuesday, as it forecast a rise in demand and margins this. . .  Full story

As traders tussle over tankers, Turkmenistan slashes oil exports

17h25 A clash between trading house Vitol and Azerbaijan's SOCAR over Caspian Sea oil shipments is forcing Turkmenistan to slash exports of crude due to a lack of tankers.. . .  Full story

Israeli chipmaker TowerJazz expects core business growth, shares rise

17h25 Israeli chip manufacturer TowerJazz said it expects its main business units to grow further this year, despite macro-economic headwinds facing the sector, lifting its shares.. . .  Full story

Greek central bank head asks government to rein in minister

17h20 Greek central bank governor Yannis Stournaras called on the government on Tuesday to rein in a minister who he said had tried to interfere with the bank's independence when he phoned him about inquiries. . .  Full story

C$ dips as investors weigh global trade uncertainty

17h11 The Canadian dollar weakened against its U.S. counterpart on Tuesday as an uncertain outlook for global trade offset the lift from the highest crude oil prices in nearly three months. A. . .  Full story

Intercept's fatty liver drug meets late-stage main goal, shares soar

17h11 Intercept Pharmaceuticals Inc said on Tuesday its treatment in patients with a progressive fatty liver disease showed an improvement in scarring on the organ, taking the drug a step closer to approval and sending. . .  Full story

TSX edges higher as material shares gain on higher gold prices

17h00 Canada's main stock index inched higher on Tuesday, as shares of precious metal miners gained on the back of higher gold prices.. . .  Full story

Norwegian Air's owners approve deep-discount share sale

16h54 Norwegian Air's shareholders overwhelmingly endorsed on Tuesday the lossmaking airline's plan for a deeply discounted cash call to help bolster its finances, Chairman Bjoern Kise said.. . .  Full story

Latam currencies rise ahead of trade talks; Brazil stocks recover

16h51 Latin American currencies strengthened on Tuesday amid increased risk appetite for assets in the region as the dollar softened with investors tracking the next round of trade talks between the United States and. . .  Full story

Hunt: German halt in Saudi arms sales to hit British defence industry-report

16h39 Britain's foreign minister has written to Germany's foreign minister expressing concern about the effect of Germany's halt in exports to Saudi Arabia on both the British and European defence industry, a magazine reported on Tuesday.. . .  Full story

Glencore to cut output, jobs at copper, cobalt mine in Congo - WSJ

16h29 Glencore Plc is planning to cut production at one of its largest copper and cobalt mining operations in the Democratic Republic of Congo, the Wall Street Journal reported, citing sources on Tuesday.. . .  Full story

Slowing U.S. economy can ill afford any more shocks: Kemp

16h18 The U.S. economy lost a lot of momentum during the fourth quarter and suffered a serious wobble in December, which should give policymakers pause before doing anything that could unsettle fragile sentiment further.. . .  Full story

UK's Gove: Govt will use tariffs to protect farming in no deal Brexit

16h04 Britain will use import tariffs to protect its farming industry if it fails to reach a trade pact with the European Union, farming and environment minister Michael Gove said on Tuesday.. . .  Full story

Cyber security provider Palo Alto to buy Demisto for $560 mln

15h49 Cyber security company Palo Alto Networks Inc said on Tuesday it would buy U.S.-Israeli information security firm Demisto Inc for $560 million in cash and stock.. . .  Full story

France, Germany seek veto for EU governments on antitrust cases

15h28 France and Germany on Tuesday proposed to give the European Council, the forum representing European Union governments, the right to override some antitrust decisions by the European Commission in certain "well-defined cases".. . .  Full story

India exempts small firms from angel tax to promote business

15h26 India eased taxes for some new businesses on Tuesday, bowing to pressure to exempt them from an "angel tax" on funds they have raised, in an attempt to boost investments and jobs.. . .  Full story

S.Africa's AngloGold looks to streamline assets, Argentine mine up for sale

15h20 South Africa's AngloGold Ashanti said on Tuesday it was putting its interests in an Argentine mine up for sale as it looks to focus on operations with a longer shelf life and ability to. . .  Full story


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Mexico pushes mobile payments to help unbanked consumers ditch cash

15h00 Mexico's new leftist government is betting on financial technology to help lift people out of poverty.. . .  Full story

BP to ramp up Azeri Shah Deniz gas output, sees flat ACG oil production

15h00 BP plans to ramp up production at Azerbaijan's Shah Deniz gas field and keep output flat at the Azeri-Chirag-Guneshli (ACG) oilfields this year, a senior regional official at the British oil major said.. . .  Full story

Germany, with bumper current account surplus, frets about car tariffs

14h45 Germany recorded the world's largest current account surplus for the third year running in 2018 due to strong exports that are vexing U.S. President Donald Trump and raising the risk of U.S. tariffs on. . .  Full story

'Phantom volcanoes' may hide more oil and gas in the North Sea - study

14h31 An unexplored 7,000 square kilometre (2,700 square mile) swathe of the British North Sea, previously thought to contain empty chambers left by three extinct volcanoes, may hide oil and gas instead, the University of Aberdeen. . .  Full story

Asda reports slowdown in rate of quarterly sales growth

14h29 Asda, the British supermarket arm of Walmart that has agreed to be acquired by rival Sainsbury's, reported a slowdown in the rate of underlying sales growth in its fourth quarter.. . .  Full story

EU agrees to cut greenhouse gas emissions from trucks

14h26 The European Union agreed on Tuesday to reduce emissions of carbon dioxide (CO2) from new trucks and buses by 30 percent by a 2030 deadline as part of its commitment to cut its output. . .  Full story

The United States' aluminium tariff wall is crumbling: Andy Home

14h23 It is almost a year since the United States imposed duties on imports of aluminium and steel on national security grounds.. . .  Full story

Activist Bramson's unlikely Barclays board seat bid sharpens scrutiny of bank

14h20 Activist investor Edward Bramson's bid to join the Barclays board is destined to fail, shareholders told Reuters, though he has sharpened scrutiny of its investment banking strategy that Bramson argues has depressed profitability.. . .  Full story

Get Brexit sorted out, UK business minister says after Honda plant decision

14h20 The United Kingdom must urgently end the uncertainty over its exit from the European Union so that businesses can have clarity about the future, business minister Greg Clark said just hours after Honda said. . .  Full story

Vegan sausage rolls bring in the dough at UK baker Greggs

14h07 Strong demand for Greggs' new vegan sausage roll prompted Britain's biggest baker to raise its 2019 profit expectations on Tuesday, boosting its shares to a record high.. . .  Full story

Investors lose interest in Italy's malls as Sunday shopping curbs loom

13h53 Three deals to sell shopping malls in Italy have been scrapped or put on hold as a plan by the coalition to restrict Sunday trading raises questions about the value of the properties involved,. . .  Full story

India's thermal coal imports could rise 10 pct this year -Adani exec

13h50 India's thermal coal imports could rise by about 10 percent in 2019 due to rail transport problems and other logistical bottlenecks, an executive at the country's largest coal trader Adani Enterprises said on Tuesday.. . .  Full story

Vietnam confirms first African swine fever cases on three farms

13h32 African swine fever has been detected on three farms in Vietnam, authorities said on Tuesday, the first confirmed cases of the highly contagious disease in the Southeast Asia country.. . .  Full story

Despite sanctions, Iran's oil exports rise in early 2019-sources

13h28 Iran's exports of crude oil were higher than expected in January and are at least holding steady this month, according to tanker data and industry sources, as some customers have increased purchases due to. . .  Full story

German govt unlikely to make quick decision on Huawei - source

13h18 The German government will probably not take a quick decision on whether to allow China's Huawei to build Germany's 5G network, a government source said on Tuesday.. . .  Full story

Zloty drifts sideways after strong wage data

13h05 The zloty bucked a mild easing of Central European currencies and stocks on Tuesday, taking support from stronger than expected growth in Poland's corporate wages and employment. Stocks in emerging markets. . .  Full story

Environmentalists seek tougher EU curbs on Balkan coal power plants

13h04 Environmentalists urged EU policy makers on Tuesday to take a tougher stance on air pollution from coal power plants in the Western Balkans, blaming the fumes for 3,900 deaths across Europe each year.. . .  Full story

VW customer plans to take diesel case to Germany's highest court

13h00 A German court on Tuesday ruled in favour of Volkswagen in a case brought by a customer seeking compensation for having bought a diesel car affected by emissions cheating, but the plaintiff's lawyer plans to. . .  Full story

German prices up, French down on mixed fundamentals

12h58 German prompt power prices rose on Tuesday on less wind power production and export demand from neighbouring countries, while those in France fell on higher nuclear power availability and lower demand.. . .  Full story

Estonian regulator to close Danske Bank unit -TV report

12h56 Estonia's financial supervisory authority has decided to close Danske Bank's Estonian operation, broadcaster ERR reported on Tuesday without citing sources.. . .  Full story

EU parliament committee backs start of U.S. trade talks

12h48 European Union lawmakers voted on Tuesday to start negotiations with the United States over lower tariffs for industrial goods, a deal designed to ease trade tension with the Trump administration.. . .  Full story

WTO warns of global trade slowdown as indicator hits 9-year low

12h44 A quarterly leading indicator of world merchandise trade slumped to its lowest reading in nine years on Tuesday, which should put policymakers on guard for a sharper slowdown if trade tensions continue, the World. . .  Full story

UK jobs market defies economy's Brexit slowdown

12h42 British workers' pay growth maintained its fastest pace in a decade in late 2018 and job creation stayed strong, data showed, suggesting the labour market was buoyant ahead of Brexit as the broader economy slowed.. . .  Full story

Asia Distillates-Jet fuel refining margins dip, cash discounts widen

12h17 Asian refining margins for jet fuel slipped on Tuesday, but stayed close to a one-month high touched in the previous session, while cash discounts for the aviation fuel widened amid muted demand in. . .  Full story

Northern Europe set for warmer than normal spring

12h04 Northern Europe will experience above normal temperatures for the better part of March to May, with most of the continent enjoying a generally warm and wet spring, The Weather Company said on Tuesday.. . .  Full story

China's Fosun makes bid for German fashion chain Tom Tailor

11h58 Chinese conglomerate Fosun International announced a takeover bid for troubled German clothing retailer Tom Tailor on Tuesday, further expanding its reach into Europe's fashion sector.. . .  Full story

BHP first-half 2019 profit drops on rising costs, missed savings

11h58 BHP Group, the world's biggest miner, on Tuesday reported a drop in first-half 2019 profit as a decline in copper earnings and a series of output disruptions boosted costs and resulted in missed opportunities. . .  Full story

Dubai home prices to fall further in 2019 on oversupply - S&P

11h54 Dubai residential property prices will fall another 5-10 percent this year due to a continued gap between supply and demand, before steadying in 2020, S&P Global Ratings said on Tuesday.. . .  Full story

African swine fever detected on three Vietnam farms -animal health dept

11h46 African swine fever has been detected on three farms in northern Vietnam, the Animal Health Department said on Tuesday.. . .  Full story

Overseas investors shy away from Asian bond markets in January

11h44 Foreign flows into emerging Asian bonds turned negative for the first time in four months in January, data showed, suggesting that a shift away from a tightening bias for regional central banks is dimming. . .  Full story

SE Asia Stocks-Most in red; Philippines worst hit as real estate, financials drag

11h41 Philippine stocks fell the most on Tuesday dragged by losses in the real estate and financial stocks, as most of the Southeast Asian equity markets ended lower, while Malaysia gained as investors took positions. . .  Full story

France launches debt sale in market supercharged by ECB expectations

11h39 France and Cyprus launched syndicated bond sales on Tuesday as euro zone government bond yields were hovering near lows on expectations the European Central Bank will look to boost a faltering economy with cheap loans.. . .  Full story

HSBC warns on China, UK slowdowns as 2018 profit disappoints

11h37 HSBC warned it may have to delay some investments this year as Europe's biggest bank missed 2018 profit forecasts due to slowing growth in its two home markets of China and Britain.. . .  Full story

Ireland urges people not to stockpile medicines ahead of Brexit

11h35 Ireland's deputy prime minister on Tuesday called on people not to stockpile medicine before Britain quits the European Union, saying the country had at least eight weeks of supply and was moving to source. . .  Full story

Philippine will act if liquidity not enough to maintain economic momentum

11h30 The Philippine central bank will act swiftly if it judges there is not enough liquidity in the financial system to maintain economic momentum, its deputy governor Diwa Guinigundo said on Tuesday.. . .  Full story

Stocks tepid ahead of trade talks

11h10 Emerging market shares largely fell on Tuesday as investors awaited outcomes from U.S.-China trade talks to be held in Washington this week.. . .  Full story

Sterling holds above $1.29 before labour market data

11h04 The British pound hovered above $1.29 on Tuesday as traders awaited an update on Brexit talks between London and Brussels and data on the health of Britain's labour market.. . .  Full story

Hong Kong stocks snap six-week rally as investors book profits

11h01 Hong Kong stocks ended lower on Tuesday, snapping a six-week rally partly fuelled by optimism that China and the United States will hammer out a deal to resolve their trade dispute.. . .  Full story

Euro zone current account surplus shrinks to 2-year low

11h00 The adjusted current account surplus of the 19 countries sharing the euro narrowed to 16 billion euros in December from 23 billion euros in November, its lowest figure in two years, data from the. . .  Full story

Straumann cautious after fastest sales growth in 13 years

10h53 Political and economic risks are making Straumann more cautious about prospects for 2019, the dental implant maker said on Tuesday, after reporting its fastest sales growth for 13 years.. . .  Full story

Chinese traders freeze Australian coal orders amid 40-day customs delays - sources

10h07 Chinese coal traders have stopped ordering Australian coal as clearing times through China's customs have doubled to at least 40 days, according to major buyers in China and international coal merchants, resulting in a sharp. . .  Full story

Berry Global gets until March 13 to decide on takeover of packager RPC

10h04 UK's takeover panel said on Tuesday that plastics maker Berry Global Group now has until March 13 to announce a firm intention to make an offer for British packager RPC Group.. . .  Full story

Russia's Sistema sells 51 pct in Lider-Invest to real estate developer Etalon

10h03 Sistema has agreed to sell 51 percent of real estate company Lider-Invest to homebuilder Etalon, the Russian conglomerate said on Tuesday.. . .  Full story

Fireballs and lights: Senegal's president promises a brighter future

10h00 In a campaign video featuring images of fireballs and flashing lights, Senegalese President Macky Sall is depicted in front of an express train, a motorway, a glass high-rise and then a sports arena.. . .  Full story

Rouble up on monthly taxes; sanctions and finance ministry in focus

09h57 The Russian rouble edged up on Tuesday, supported by higher oil prices and month-end tax payments that usually prompt companies to convert their dollars to meet local duties.. . .  Full story

Bank of Georgia profits rise on lending boost

09h56 Bank of Georgia Group Plc reported an 11.8 percent jump in annual profit on higher lending thanks to a growing Georgian economy, but warned that growth of unsecured consumer loans would moderate on the. . .  Full story

BAWAG ups targets, dividend after estimate-beating 2018 earnings

09h56 Austrian bank BAWAG Group lifted its 2020 profit target and proposed paying a higher dividend after its focus on retail and small businesses paid off last year with an unexpected 14 percent increase in pre-tax. . .  Full story

Uber agrees to pay VAT in Egypt -tax chief

09h46 Uber [UBER.UL] has agreed to pay value-added tax on its services in Egypt, Egyptian officials said on Monday, a move that may help resolve a long-simmering feud with traditional taxi drivers.. . .  Full story

South African Airways in talks to roll over $650 mln of debt

09h44 South Africa's state-owned airline is in talks with lenders about rolling over $650 million of debt due next month, its finance chief said on Monday, a move that would give the. . .  Full story

China's central bank sells net 1.2 bln yuan in FX in Jan

09h43 China's central bank sold a net 1.2 billion yuan worth of foreign exchange in January, according to Reuters calculations based on central bank data released on Tuesday. The following are historical data. . .  Full story