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  • Ford opens $275 mln engine plant in Russia Thursday, 3 Sep 2015 | 12:14 PM ET

    MOSCOW, Sept 3- U.S. carmaker Ford's Russian venture, Ford Sollers, opened a $275 million engine plant on Thursday, which will help make its Russian-produced vehicles less dependent on imported components and currency fluctuations. Ford does not currently make any engines in Russia. New car sales in Russia are forecast to drop 36 percent this year to 1.55 million,...

  • Sept 3- Medtronic Plc, the world's largest standalone medical device maker, reported a 70 percent rise in quarterly revenue, helped by higher sales across its business lines, in part due to the acquisition of surgical products provider Covidien Plc. An improving U.S. economy and the impact of the affordable care act has driven an increase in the number of surgical...

  • LONDON, Sept 3- Giving cheap aspirin to cancer patients may turbo-charge the effectiveness of expensive new medicines that help their immune systems fight tumours, experiments on mice suggest. One reason is that cancer cells often produce large amounts of the molecule prostaglandin E2, which turns down the immune system's normal attack response to tumour...

  • *Sees further threats from China, emerging markets. FRANKFURT, Sept 3- The European Central Bank cut its growth and inflation forecasts on Thursday, warning of possible further trouble from China and paving the way for an expansion of its already massive 1 trillion-euro plus asset-buying programme. The ECB, which left interest rates unchanged in a widely...

  • *Joy Global falls after slashing full-year forecast. Sept 3- Wall Street extended its gains on Thursday as data pointed to a strengthening U.S. economy and European Central Bank chief Mario Draghi hinted at additional stimulus measures. The ECB also cut its inflation and growth forecasts for the euro zone in the wake of lower oil prices, weaker growth in China and...

  • Sept 3- Chicago Mayor Rahm Emanuel has proposed to raise property taxes by $500 million, tax smokeless tobacco and impose a garbage collection fee, Chicago Sun-Times reported, citing City Hall sources. The mayor's 2016 budget also will include a $1 a ride surcharge on Uber and other ride-hailing services as part of a broader package of reforms to level the...

  • NEW YORK, Sept 3- In calmer times the U.S. employment report due to be published on Friday would be the Federal Reserve's best and last economic signal before it decides whether to raise interest rates later this month for the first time in nearly a decade. "Because of the volatility, you'll need an even stronger report to get them to hike," said Thomas Costerg, senior...

  • LONDON, Sept 3- Copper surged to the highest level in over three weeks on Thursday as bearish investors closed out positions amid a stock market recovery, strong U.S. economic data and signals that European monetary stimulus could be extended. Copper led broad gains on the London Metal Exchange but some investors were preparing a renewed attack on the downside.

  • NEW YORK, Sept 3- The euro fell on Thursday on a darkening euro zone outlook, while global stock markets rallied as the European Central Bank chief pledged to beef up or prolong the bank's economic stimulus if necessary. ECB President Mario Draghi's comments on the bank's bond-buying program came as the ECB cut its inflation and growth forecasts for the euro zone,...

  • UPDATE 2-VW's finance chief set to become new chairman Thursday, 3 Sep 2015 | 11:09 AM ET

    BERLIN, Sept 3- Volkswagen's finance chief Hans Dieter Poetsch is set to become its next chairman, putting Europe's biggest carmaker on course for calmer waters after rival factions including ousted patriarch Ferdinand Piech united to back him. The company has been looking for a permanent successor to Piech, who was turfed out in April after clashing with...

  • WASHINGTON, Sept 3- The International Monetary Fund does not see China's recent market volatility by itself as a reason to voice concern about including the yuan in its benchmark currency basket, an IMF spokesman said on Thursday. "Some of the recent volatility that we have seen in markets has been... some market reaction to the move to adopt a more flexible exchange...

  • FRANKFURT, Sept 3- Greece has to pass a review of its bailout programme and show a commitment to reforms before the European Central Bank can start buying its bonds as part of the bank's asset purchase programme, ECB President Mario Draghi said on Thursday. Greece has so far been excluded from the quantitative easing programme due to its low credit rating but it...

  • Pace of global business growth held steady in Aug -PMI Thursday, 3 Sep 2015 | 11:00 AM ET

    JPMorgan's Global All-Industry Output Index, produced with Markit, held steady at July's 53.7 last month. "Scratching beneath the headline numbers, however, reveals an ongoing disparity between the relatively strong performance of the developed nations whereas growth in the emerging markets is quite weak," said David Hensley, a director at JPMorgan.

  • Sept 3- Sam's Club, the membership warehouse club division of Wal-Mart Stores Inc, said on Thursday it has tied up with online car-shopping site TrueCar Inc in an effort to boost its auto business. Sam's Club said in a statement that the tie-up would give its members access to more than 10,000 TrueCar dealers and guaranteed savings off the manufacturer's...

  • *Turkey keen to shake off perception G20 is' talking shop'. ANKARA, Sept 3- When the Group of 20 finance ministers and central bankers meet on Friday in Turkey, China's market turmoil is likely to be the biggest problem they don't do anything about. Slower growth in China and rising market volatility have boosted the risks to the global economy, staff of the...

  • BERLIN, Sept 3- German business groups have hit out at Berlin's plan to reform how it taxes investment funds, warning on Thursday that the proposed changes would hurt pension provisions and reduce the attractiveness of Europe's largest economy as a place to invest. "The finance ministry's draft for the investment tax act would lead to an additional tax burden,...

  • COLUMN-Why is nickel trading like it's 2008? Andy Home Thursday, 3 Sep 2015 | 10:34 AM ET

    LONDON, Sept 3- On the London Metal Exchange benchmark nickel for three-month delivery is currently trading around $10,000 per tonne. Nickel hit a low of $9,100 during its "flash crash" of Aug. 12, within spitting distance of the low of $8,850 recorded in October 2009, the month after the fateful "Lehman Moment". When nickel recorded that historic low back in October...

  • FOREX-Euro slides 1 pct on darkening euro zone outlook Thursday, 3 Sep 2015 | 10:32 AM ET

    NEW YORK, Sept 3- The euro fell 1 percent on Thursday, surrendering most of the solid gains put up against the dollar since China devalued the yuan last month, after European central bankers cut economic growth targets and left interest rates unchanged. The European Central Bank lowered its forecasts for inflation and economic growth, citing a slowdown in...

  • FEDERAL RESERVE HAS FLEXIBILITY TO HOLD OFF WITH RATE HIKES, HAS NO COMMENT ON SPECIFIC TIMING.

  • IMF SPOKESMAN SAYS LOOKS FORWARD TO UKRAINE DEBT DEAL BEING FINALIZED SOON.