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  • April 22- BNY Mellon Corp said Wednesday first-quarter earnings rose 16 percent, beating Wall Street estimates, as the bank lowered expenses and saw revenue from trading foreign currencies surge from year-ago levels. BNY Mellon Chief Executive Gerald Hassell has been under pressure from hedge fund activists unhappy with expense controls and profit growth...

  • SEOUL, April 22- South Korea's LG Display Co Ltd downplayed risks of a supply glut in the global panel market after reporting its best quarterly profit in more than four years, seeking to assuage fear about a sharp profit decline later this year. Deteriorating economic conditions in Western Europe and weaker currencies of key emerging markets like Brazil and...

  • April 22- BNY Mellon Corp said Wednesday first-quarter earnings rose 16 percent as revenue from trading foreign currencies surged from year-ago levels. The custody bank's earnings were $766 million, or 67 cents a share, compared with $661 million, or 57 cents a share, in the year-ago quarter. Revenue was $3.9 billion, or 6 percent higher than the year-ago quarter.

  • FACTBOX-Britain's biggest corporate losses Wednesday, 22 Apr 2015 | 6:41 AM ET

    ROYAL BANK OF SCOTLAND, Feb. 2009-- At the height of the financial crisis, RBS said a record loss of 24.1 billion pounds reflected a 16.2 billion pound writedown against acquisitions, including its takeover of parts of Dutch rival ABN Amro in 2007, plus a further 7.9 billion pounds in operating losses. VODAFONE GROUP, May 2006-- Mobile phone operator Vodafone...

  • LONDON, April 22- Greek bond yields held around their highest levels since the country's default in 2012 on Wednesday, but deepening fears that it might leaving the euro zone had little impact on the bloc's other heavily indebted countries. Analysts drew a little comfort from the fact that yields close to 30 percent for two-year debt had at least not risen, while...

  • HONG KONG, April 22- UBS, Singapore's Temasek Holdings and French bank BNP Paribas are among half a dozen preliminary bidders to buy up to a 10 percent stake in state-owned Postal Savings Bank of China for at least $3 billion, people familiar with the matter told Reuters on Wednesday. PSBC is preparing for an initial public offering next year, which could raise...

  • *Tesco suffers worst loss in its history. LONDON, April 22- Tesco revealed the cost of its spectacular decline on Wednesday with an annual loss of 6.4 billion pounds, one of the biggest in British corporate history, and warned that there could be more pain to come. "We sought to draw a line under the past and rebuild from here," said Dave Lewis, a former Unilever executive...

  • LONDON, April 22- Gold steadied around $1,200 an ounce on Wednesday, as the dollar and European shares eased, while the absence of major developments in the Greek crisis left investors cautious. "The trading range has become very tight over the past 10 days and sideways performance like that is drying up liquidity," Saxo Bank senior manager Ole Hansen said.

  • *U.S. wants Europe to open up to GMs as part of free trade deal. BRUSSELS, April 22- The European Commission proposed on Wednesday a new law allowing individual EU countries to restrict or prohibit imported genetically modified crops even after they have been approved for use in food and feed by the bloc as a whole. The proposal risks upsetting trading partners,...

  • SHENZHEN, China, April 22- China can only ensure its information security in the long run if it keeps its market open to the best technology products, be they foreign or domestic, Huawei's rotating chief executive Eric Xu told Reuters on Tuesday. Xu's remarks are a rare example of a top Chinese CEO openly questioning the direction of Beijing's information...

  • LONDON, April 22- Without dealings in the "grey areas" of the global economy, bitcoin might not have grown to be worth the $3 billion it is today, according to Gavin Andresen, the closest thing the digital currency has to a CEO. Andresen, a self-confessed "all-around geek", is chief scientist at the Bitcoin Foundation, a non-profit group he helped set up three years ago to...

  • YEREVAN, April 22- Armenia's foreign exchange reserves rose by 18.3 percent in March, month-on-month, to $1.492 billion, but were down from $1.970 billion a year earlier, preliminary central bank data showed on Wednesday. The South Caucasus country's forex reserves were $1.489 billion as of Jan. 1, 2015, down from $2.252 billion a year earlier.

  • LONDON, April 22- Britain's markets regulator has fined Bank of America Merrill Lynch a record 13.2 million pounds for failing to report transactions properly over seven years. The Financial Conduct Authority said on Wednesday that Bank of America's Merrill Lynch International arm incorrectly reported 35 million transactions and failed to report...

  • LONDON, April 22- Emerging stocks resumed their climb on Wednesday and inched towards recent seven-month highs, buoyed by a 2.5 percent surge on the Shanghai market and a growing consensus that interest rate rises in the United States are still months away. The MSCI emerging stocks index was 0.5 percent higher, following a 0.4 percent gain on the Asia Pacific...

  • SEOUL, April 22- South Korea and the United States reached a deal on Wednesday to revise a 40- year-old civil nuclear pact that gives the Asian country limited freedom to produce fuel for power generation but continues to curb its ability to reprocess spent fuel. The deal paves the way for South Korea to enrich uranium to produce non-weapons grade nuclear fuel...

  • UPDATE 3-Oil prices dip below $62 on U.S. stock build Wednesday, 22 Apr 2015 | 5:19 AM ET

    *Saudi Arabia ends military campaign in Yemen. LONDON, April 22- Oil prices dipped under $62 a barrel on Wednesday after industry group data showed a higher-than-expected build of 5.5 million barrels in U.S. inventories of crude oil. Brent for June delivery was down 31 cents at $61.77 a barrel by 0907 GMT.

  • *Oil down on Yemen news. LONDON, April 22- European stocks fell on Wednesday, failing to extend an overnight rally in Asia as investors looked to Greece's debt crisis and lurch towards possible default as an excuse to cash in gains chalked up earlier in the week. Europe's EuroFirst 300 index of leading shares was down 0.2 percent, Germany's DAX was down 0.1 percent...

  • LONDON, April 22- Swiss drugmaker Roche has "renewed confidence" that drugs targeting potentially brain-destroying plaque can fight Alzheimer's disease, following promising results with a product from a rival. Pharmaceuticals head Daniel O'Day said on Wednesday Roche would look again at prospects for two of its experimental Alzheimer's drugs, both of...

  • BEIJING, April 22- China still has room to further loosen monetary policy, especially when it comes to relaxing banks' reserve requirements, an adviser to the Chinese central bank was quoted by state news agency Xinhua as saying on Wednesday.

  • Tesco gives more detail on supplier deals after scandal Wednesday, 22 Apr 2015 | 4:55 AM ET

    LONDON, April 22- Tesco provided more information about how it accounts for relationships with suppliers on Wednesday after an accounting scandal that contributed to an annual loss of 6.4 billion pounds. Britain's biggest retailer announced last year it had overstated profits by 263 million pounds due to booking deals with suppliers too early, prompting a...