Feb 27- Contract driller Rowan Cos Plc reported a quarterly loss compared with a profit a year earlier, as it wrote down the value of 12 of its oldest jack-up rigs by $438.4 million. The company reported a net loss from continuing operations of $326.9 million, or $2.63 per share, for the quarter ended Dec. 31, compared with a profit of $49.7 million, or 40 cents per share, a...» Read More
*Sberbank move follows VTB lawsuit against Mechel. MOSCOW, Oct 1- State-run Russian lender Sberbank filed a lawsuit against debt-laden Mechel on Wednesday, erasing earlier gains in the coal and steel producer's shares.
*Cash-strapped Spain reluctant to take on bulk of loans. MADRID, Oct 1- Foreign banks are dragging out a 2.3 billion euro rescue plan for bankrupt Spanish motorways, seeking better terms to recoup more of the money they lent the nine toll road companies, three sources said.
DUBAI, Oct 1- The International Cotton Association said it is introducing mediation services to help resolve disputes over reneged contracts that have blocked hundreds of blacklisted firms from doing business.
NEW YORK, Oct 1- U.S. gasoline stocks hit 208.5 million barrels last week, their lowest levels since November 2012, according to weekly data from the U.S. Energy Information Administration on Wednesday.
*Weak Asia, Europe data adds bid for German, US debt. NEW YORK, Oct 1- U.S. Treasuries prices rose on Wednesday after U.S. manufacturing growth unexpectedly slowed, adding to earlier concerns about faltering global growth after Europe and Asia saw worsening factory activity.
Oct 1- Shares of Vivint Solar Inc, the second-largest installer of residential solar panels in the United States, rose as much as 9 percent in their market debut on the New York Stock Exchange, valuing the company at about $1.84 billion.
WASHINGTON, Oct 1- U.S. construction spending unexpectedly fell in August, hit by weaker private spending outside the housing sector and a pullback in public investments.
Oct 1- A federal appeals court on Wednesday rejected Ford Motor Co's bid to recoup about $450 million of interest from the U.S. government on taxes that the automaker overpaid.
WASHINGTON, Oct 1- Please be advised the story "U.S. construction spending hits highest level in 5-1/ 2 years" is an out-of-date story and was published in error.
*Says China joint ventures planning to invest $14 billion from 2014 to 2018 to open five new assembly plants. *Says to launch 60 new or refreshed vehicles in china, including 9 new suvs, from 2014 to 2018. *Says expects China joint ventures to maintain net income margins in 9 to 10 percent range.
*GM says to introduce 9 new models in next five years in china. *GM says targeting auto liquidity of $30 billion to $35 billion. *GM says no planned near-term material discretionary contributions to pension plans.
Oct 1- Ardelyx Inc said its experimental drug to treat constipation-related irritable bowel syndrome achieved the main goal of increasing bowel movement compared with a placebo in a mid-stage study involving 371 patients.
Oct 1- The New York Times Co said on Wednesday it would cut jobs to lower costs and invest the savings in its "digital future" as advertising revenue from its print business dwindles, sending the company's shares up 7 percent.
*General Motors Co says to achieve 10 percent operating margins in north america in 2016. *Says expects to achieve overall operating profit margins of 9 to 10 percent by early next decade. *Says to return to profits in europe in 2016.
*GM says expects "marginal loss" in South America in 2014. *GM says expects "significant loss" in its international operations not including china in 2014, but in line or slightly better than plan. *GM says long-term margin objective in South America remains mid-single digits.
CRUDE OIL FUTURES EXTEND GAINS AFTER EIA STORAGE REPORT.
BRIEF-GM CEO BARRA SAYS NO CHANGE TO ESTIMATED COST TO. COMPENSATE VICTIMS OF FAULTY IGNITION SWITCH@ faulty ignition switch@. *GM CEO Mary Barra says no change to estimate for cost of fund established to compensate victims of the faulty ignition switch.
NEW YORK, Oct 1- PepsiCo Inc for the first time is introducing a product exclusively through Amazon.com Inc as the snack and soft drink maker aims to expand its footprint in e-commerce. The product, a naturally sweetened soda called Pepsi True, will be available on Amazon in mid-October in 24- packs of 7.5- ounce cans, the company said.
Oct 1- Coca-Cola Co, under pressure from an activist investor, said it had adopted new guidelines under its 2014 equity plan that will extend the number of years shares will last under the plan by using fewer shares each year.