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  • India's gold monetisation plan lacks lustre - industry Wednesday, 20 May 2015 | 9:24 AM ET

    *Banks worry over operational costs. SINGAPORE/ MUMBAI, May 20- A proposal in India to attract thousands of tonnes of gold owned by households into a bank deposit scheme will likely fail in its current form as it does not address some key concerns for banks and consumers. Deposit schemes, similar to the one proposed on Tuesday by the Narendra Modi- led government, have...

  • HONG KONG, May 20- China's Hanergy Thin Film Power Group is under investigation by Hong Kong's market watchdog, a source told Reuters just hours after the company lost half its market value of nearly $40 billion in 24 minutes on Wednesday. A source familiar with the situation later said Hanergy had been under investigation for several weeks by Hong Kong's...

  • HONG KONG, May 20- Chinese green energy firm Hanergy, whose shares plunged nearly 50 percent on Wednesday, is under investigation by Hong Kong's market watchdog for alleged market manipulation, a source familiar with the situation told Reuters. The source said the Securities and Futures Commission had been investigating Hanergy Thin Film Power Group for...

  • HONG KONG, May 20- China's Hanergy Thin Film Power Group lost nearly half its market value in 24 minutes on Wednesday, prompting trade in the stock to be suspended and leaving analysts just as puzzled about the brutal decline as they have been about a long run-up in its shares. At its share price peak in March it was worth $48 billion, more than its nearest two dozen...

  • MANNHEIM, Germany, May 20- German software company SAP's chief executive once again ruled out any move to acquire Salesforce.com, then went further by saying that its richly valued rival is unlikely to be acquired by any other player in the industry. Microsoft, Oracle, IBM and SAP have all been touted as potentional buyers of Salesforce, which last month said it had...

  • NEW YORK, May 19- Encouraging housing starts data and a bulge of corporate bond supply knocked U.S. "This morning's market action was driven by a pretty good housing starts number," said Stanley Sun, interest rate strategist at Nomura Securities International in New York. Investment-grade companies raised $18 billion in the debt market on Monday with more on the...

  • May 19- Duke Energy Corp, the largest U.S. power company by generation capacity, said it would invest $1.1 billion to retire a coal-powered power plant in North Carolina and build a natural gas plant at the site over four to five years. Duke last week pleaded guilty to environmental crimes over a North Carolina power plant's coal ash spill and management of coal ash...

  • *Less gloom on Europe soured bullish dollar, bond bets. NEW YORK, May 19- The dollar's four-week decline and a slump in bond prices has upset some assumptions about where global financial markets are heading, but haven't deterred most investors from staying faithful to their bets. "What we have really seen this month is a correction as opposed to a turn," said Mark...

  • JAKARTA, May 19- For Indonesia's second-largest state construction firm PT Wijaya Karya Tbk, the half-year since President Joko "Jokowi" Widodo took office with promises of a massive infrastructure push has been as much about waiting as it has been about building. Shares of Wijaya Karya, PT Waskita Karya Tbk, PT Adhi Karya Tbk and PT Pembangunan Perumahan Tbk now...

  • *Kuwait acknowledges oversupply, but blames non- OPEC sources. NEW YORK, May 18- Oil slipped on Monday as a rallying dollar and concerns of growing oversupply weighed on the market after Saudi Arabia reported its highest crude exports in nearly a decade. Crude oil futures erased early gains of more than $1 a barrel on worries of turmoil in the Middle East after a...

  • *Kuwait acknowledges oversupply, but blames non- OPEC sources. NEW YORK, May 18- Oil slipped on Monday as a rallying dollar weighed on the commodities complex amid a bearish price outlook by influential Wall Street firm Goldman Sachs and risks of growing oversupply. Crude oil prices erased early gains of more than $1 a barrel on worries of turmoil in the Middle East...

  • *Brait's second major deal in a month. The deal, announced on Friday, puts Brait, whose top shareholder is South African retail mogul Christo Wiese, in the middle of the crowded British high street, where New Look vies with Primark, part of AB Foods, Next and H&M. It is the second big deal in a month for Brait, one of Africa's largest investment houses which is also buying...

  • NEW YORK, May 14- Even as the rise of online retailers such as Amazon.com Inc leads analysts to predict the eventual death of the American shopping mall, real estate fund managers are betting some will prosper- if they can lure the right kind of consumer. Simon Property Group Inc, the largest high-end mall operator in the country with properties including Palo Alto,...

  • NEW YORK, May 13- A downgrade of Chicago's debt rating to junk created confusion in the $3.7 trillion U.S. municipal bond market on Wednesday, with prices sliding in a volatile session and predictions that they still have further to fall. While Moody's Investors Service downgraded the city's $8.1 billion of general obligation debt to junk at Ba1, other big Wall...

  • YOKOHAMA, Japan, May 13- Nissan Motor Co said it expects operating profit to climb a solid 15 percent this financial year, forecasting growth in vehicle sales for every region except Japan. Nissan, 43.4 percent owned by France's Renault SA is, however, grappling with a French government move, against both automakers' wishes, to raise its holding in Renault to gain a...

  • Nissan forecasts 14.5 pct rise in annual operating profit Wednesday, 13 May 2015 | 2:13 AM ET

    YOKOHAMA, Japan, May 13- Nissan Motor Co forecast a 14.5 percent rise in annual operating profit on Wednesday, after robust growth in the past financial year thanks to a weaker yen and strong sales growth in North America. Japan's No.2 automaker by global sales expects operating profit of 675 billion yen this financial year, against a consensus forecast of 690...

  • AOL's Armstrong charted bumpy path to big Verizon sale Tuesday, 12 May 2015 | 6:54 PM ET

    May 12- AOL Inc Chief Executive Tim Armstrong's six year path to transforming the venerable dial-up Internet provider into a marketable mobile ad specialist was filled with bumps. Perhaps most infamously, Armstrong publicly blamed an AOL employee's "distressed baby" as the reason for the company's escalating health care costs. Verizon's offer- at a premium of...

  • China rate cut puts spring in developers' step Tuesday, 12 May 2015 | 5:00 PM ET

    *Property sector accounts for 15 pct of China's growth. China's real estate investment growth slipped in the first quarter to its lowest rate since 2009 as developers focused on clearing excess inventory, but rare comments from senior executives offer hope of a near-term pick-up in home sales and a knock-on boost for about 40 related business sectors.

  • CEE bank sales offer investors a shot at growth markets Tuesday, 12 May 2015 | 10:19 AM ET

    WARSAW/ PRAGUE- May 12- More mid-sized banks are coming up for sale in central Europe as foreign owners retrench and stubbornly low interest rates squeeze others, creating openings for investors looking for a foothold in economies offering faster growth than the euro zone. In Poland, the biggest economy in the European Union's emerging east, three banks are...

  • May 11- Wall Street was mixed in morning trading on Monday amid worries about Greece's precarious financial condition and slowing growth in China, while energy stocks fell on weaker oil prices. "Even though the market closed up on Friday, more stocks were lower for the week and that points to weakness," said Paul Nolte, portfolio manager at Kingsview Asset...