SEOUL, Dec 22- U.S. crude futures rose to near $57.50 a barrel in early Asian trades on Monday, extending gains in the previous session helped by profit-taking on short positions, but the rise was capped by Saudi Arabia saying it would not cut output to prop up markets. *Saudi Arabia said on Sunday it would not cut even if non- OPEC nations did so, in one of the toughest...» Read More
NEW YORK, July 16- U.S. stock rose on Wednesday, led by tech shares after Intel's earnings and word of a partnership between IBM and Apple, while Time Warner Inc rallied on news it rebuffed a takeover attempt from Rupert Murdoch's Twenty-First Century Fox.
FARNBOROUGH, England, July 16- Safran said an order from China's Hainan Airlines to supply CFM International engines to power 50 Boeing 737 MAX 8 planes will be worth $1.3 billion at list prices. The carrier announced the commitment to buy the narrow-body planes at Farnborough Airshow earlier on Wednesday.
WASHINGTON, July 16- The Obama administration urged Congress on Wednesday to pass a law to stem what it described as a growing trend in U.S. companies moving to other countries to reduce their U.S. tax bills. "Congress should enact legislation immediately," Treasury Secretary Jack Lew told a business conference hosted by CNBC network.
WASHINGTON, July 16- U.S. industrial production edged higher in June, as production at mines increased, according to data released by the Federal Reserve on Wednesday. Industrial production rose 0.2 percent, compared to May's revised increase of 0.5 percent. Economists polled by Reuters had forecast industrial output rising 0.4 percent.
FARNBOROUGH, England, July 16- A potential collaboration between Australia and Norway could reduce the development costs of Kongsberg Gruppen's Joint Strike Missile, designed for use in Lockheed Martin's F-35 fighter jet, the Norwegian Air Force said on Wednesday.
DETROIT/ FRANKFURT, July 16- German automaker BMW said on Wednesday it is recalling about 1.6 million cars worldwide to replace passenger-side front airbags made by Takata Corp because the inflators could break apart during deployment and injure passengers.
BRUSSELS, July 16- European Union leaders meet on Wednesday to discuss candidates for several top jobs in the 28- member union after the election of former Luxembourg Prime Minister Jean-Claude Juncker as president of the executive European Commission.
*EU set to step up sanctions vs Russia over Ukraine. The 28 leaders were also set to step up sanctions against Moscow over separatist violence in eastern Ukraine, according to a draft statement seen by Reuters.
Time Warner shares jumped 15.3 percent to $81.86 before the bell as Twenty-First Century Fox confirmed it made an $80 billion takeover offer for the company that was turned down. *A partnership struck between IBM and Apple Inc will serve to boost indexes. IBM shares gained 1.8 percent to $191.85 and Apple advanced 2.1 percent to $97.35 in premarket.
LONDON, July 16- Britain said it wants deeper reforms to the EU Emissions Trading System than those proposed by the European Commission and Germany, favouring cancelling hundreds of millions of carbon permits over launching a tool to regulate market supply.
*UAE and Qatar recently upgraded to emerging market status. LONDON, July 16- Despite their recent upgrade to the more mainstream emerging market league, United Arab Emirates and Qatar are considered risky enough by many investors that they still treat them like frontier markets.
FARNBOROUGH, England, July 16- Myanmar's Myanma Airways has signed a deal with ATR for six new-generation ATR 72-600 s and taken options for six additional aircraft, the turboprop planemaker said on Wednesday.
SAN FRANCISCO, July 16- Jawbone, maker of wireless headsets and wristbands, is pushing a new food-tracking service it hopes will catch on with health-conscious weight-watchers. In a move to grow its share of the nascent wearables market, the San Francisco- based company on Wednesday introduced new features to its main wearable gadget, called Up.
*Producer prices rise 0.4 percent in June. WASHINGTON, July 16- U.S. producer prices rose more than expected in June with gains across most categories, pointing to some inflation at the factory gate. The Labor Department said on Wednesday its producer price index for final demand increased 0.4 percent last month, reversing May's 0.2 percent decline.
*Sanofi mulls fate of 200 older drugs including Plavix. *Sanofi also held talks with TPG and Warburg Pincus. PARIS, July 16- Sanofi has held talks with Abbott Laboratories, Mylan and private equity firms over the possible sale of a 6.3 billion euro portfolio of mature drugs, according to an internal document seen by Reuters.
LAGOS, July 16- Nigeria's consumer inflation rose for the fourth straight month in June to hit 8.2 percent, a 10- month high, driven by higher food prices, the statistics bureau said. "Prices were pushed higher as a result of higher prices in the bread and cereals, meats, fish, and dairy groups," the National Bureau of Statistics said in a statement.
FARNBOROUGH, England, July 16- Canadian plane and train maker Bombardier has expanded to four from one its range of Q400 NextGen turboprop regional airliners including an 86- seat version as it aims to bolster sales in emerging markets, a top company executive said on Wednesday.
*Murdoch determined to pursue Time Warner- NYT. July 16- Rupert Murdoch's 21st Century Fox said it made a bid to buy media conglomerate Time Warner Inc but was rebuffed. Time Warner's stock jumped 22.5 percent to $87 premarket as the New York Times reported that Murdoch was determined to buy Time Warner and was unlikely to walk away despite the rejection.
*China Q2 GDP growth slightly higher than forecast at 7.5 pct. LONDON, July 16- Aluminum touched the highest levels in 16 months on Wednesday after data showed stronger economic growth in top metals consumer China amid producer cutbacks and eroding inventories.
WASHINGTON, July 16- U.S. producer prices rose more than expected in June with gains across most categories, indicating some inflation at the factory gate. The Labor Department said on Wednesday its producer price index for final demand increased 0.4 percent, reversing May's 0.2 percent decline.