Patrick Bennett, FX Strategist at CIBC discusses his outlook for monetary policy in Australia.» Read More
SYDNEY, May 23- Ford Motor Co said on Thursday it is closing its two Australian auto plants and will cease production in the country in October 2016. Ford Australia Chief Executive Bob Graziano said the company will close its engine plant in Geelong and its assembly plant in Broadmeadows, both in the state of Victoria.
PERTH, May 23- U.S. crude futures prices dropped to around $94 a barrel on Thursday after data showing U.S. gasoline supplies rose and on concerns that the U.S. July oil futures contract fell 26 cents to $94.02 a barrel by 0035 GMT. *Brent also dropped 26 cents to $102.34 a barrel.
*Ford to end Australia production by 2016- reports. CANBERRA, May 23- Ford Motor Co is set to announce it is closing its two Australian auto plants and will cease production in the country by 2016 as it struggles with sliding sales, high costs and a strong Australian dollar, local media reported on Thursday.
*HSBC's early report on China's factory sector next in focus. SYDNEY, May 23- The dollar hovered at a near three-year high against a basket of major currencies in Asia on Thursday, having risen broadly as Treasury yields jumped on the prospect that the Federal Reserve might scale back its stimulus programme this year.
GENEVA/ LONDON, May 22- The UK and French governments will join a global initiative that will require oil and mining firms to comply with new disclosure measures aimed at tackling corruption, British Prime Minister David Cameron said on Wednesday.
SHANGHAI, May 23- The rolling green hills and gurgling blonde toddlers in the ads for Yashili International Holdings Ltd underscore how keen China's biggest milk powder producers are to appear global to emerge from the shadow of a fatal baby formula scandal.
BEIJING, May 23- The discovery of dangerous levels of toxic cadmium in rice sold in the southern city of Guangzhou, the latest in a series of food scandals, has piled more pressure on China to clean up its food chain- possibly at the expense of Mao Zedong's cherished goal of self-sufficiency.
May 22- Staples Inc stood by its full-year profit outlook and told investors it expected sales to improve through the year after the biggest U.S. office supply retailer by sales reported lackluster results in the first quarter. The comments helped boost Staples shares more than 5 percent, to their highest level in a year.
GENEVA/ LONDON, May 22- The UK and French governments are set to join a global initiative that will require oil and mining firms to comply with new disclosure measures aimed at reducing corruption, sources involved in the process said on Wednesday.
LONDON, May 22- The world's biggest investors may be rethinking 20 years of boosting overseas holdings and are instead seeking more stable cash income at home, as aging societies and tighter regulation dull risk appetite.
*Several dealers doubt China will raise import duty. LONDON/ BEIJING, May 22- A slide in sugar prices driven by excess supplies may be given fresh impetus soon with China, one of the world's top importers, likely to cut back on purchases after a sharp jump in stocks. "If China were to continue to buy large tonnages of sugar, that would be a bullish signal.
May 22- Staples Inc missed analyst estimates for profit and sales in the first quarter, hurt by a stronger dollar and weak sales in Europe and Australia. Staples' income from continuing operations fell to $170.4 million, or 26 cents a share, in the first quarter ended on May 4 from $192.9 million, or 28 cents a share, a year earlier.
May 22- Staples Inc reported a slightly lower-than-expected quarterly profit on Wednesday, hurt by a stronger dollar and weak sales in Europe and Australia. Income from continuing operations fell to $170.4 million, or 26 cents a share, in the first quarter ended on May 4 from $192.9 million, or 28 cents a share, a year earlier.
May 22- Staples Inc reported a slightly lower-than-expected quarterly profit on Wednesday, hurt by a stronger dollar and weak sales in Europe and Australia.
CHENNAI, India, May 22- Brent futures dropped further below $104 per barrel on Wednesday, as data showing a surprise jump in U.S. gasoline stockpiles and worries that peak summer demand in the world's top oil consumer may falter dragged down prices.
--Clyde Russell is a Reuters market analyst. LAUNCESTON, Australia, May 22- Asian giants China and India may be planning to improve the quality of coal they are burning, but it's unlikely any changes will have much effect on the level of imports for the foreseeable future.
SYDNEY, May 22- The end of Australia's resources boom is taking its toll on investment in the sector, with A $150 billion in planned projects delayed or cancelled since April 2012, government data shows. China's economic slowdown has squashed a decade-long mining boom in Australia that drove gold, copper, iron ore and coal to record prices.
CHENNAI, India, May 22- Brent futures pulled further below $104 per barrel on Wednesday on concerns that peak summer demand in the world's top oil consumer may falter after data showing a stronger-than-expected rise in U.S. oil stockpiles.
SYDNEY, May 22- Asian stocks rose on Wednesday following a positive lead from Wall Street with Japan's Nikkei reaching a 5-1/ 2 year high, while the yen took a defensive stance ahead of the outcome of the Bank of Japan's policy meeting. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, reversing some of Tuesday's 0.4 percent decline.
PERTH, May 22- U.S. crude futures prices fell below $96 a barrel on Wednesday after an unexpected increase in U.S. gasoline stockpiles ahead of the summer driving season in the world's largest oil consumer. July oil futures contract fell 44 cents to $95.74 a barrel by 0028 GMT.