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  • May 16- Alcoa Inc said it had reached a tentative agreement on a new five-year labor contract with the unionized workers at 10 U.S. metal plants shortly before the expiration of their previous labor contract.

  • *Congress faces worst-ever result, Rahul Gandhi may lose seat. The ruling Congress party alliance was ahead in just 72, according to NDTV news. Rahul Gandhi, who led the Congress campaign, was leading by a slender margin in his seat of Amethi, a family bastion that has been held in turn by his uncle, father and mother, Sonia.

  • SHANGHAI, May 16- Corruption charges against GlaxoSmithKline Plc executives in China are a warning to other foreign firms and could do irreparable damage to the British drugmaker's Chinese operations, the official Xinhua news agency said on Friday.

  • *Congress faces worst-ever result, Rahul Gandhi may lose seat. The ruling Congress party alliance was ahead in just 80, according to NDTV news. Rahul Gandhi, who led the Congress campaign, was lagging in his seat of Amethi, a family bastion that has been held in turn by his uncle, father and mother, Sonia.

  • Brent holds above $109 on Ukraine tensions Friday, 16 May 2014 | 12:12 AM ET

    SINGAPORE May 16- Brent futures held above $109 a barrel on Friday as fresh tensions over Ukraine kept them on course for their biggest weekly rise since mid-April, but returning Libyan supply capped gains.

  • *Gold holds overnight losses after strong U.S. data. SINGAPORE, May 16- Gold struggled below $1,300 an ounce on Friday as U.S. jobs and factory data indicated brighter prospects for the economy, hurting the metal's appeal as an investment hedge.

  • China's yuan steady as volatility tapers off this week Thursday, 15 May 2014 | 11:56 PM ET

    HONG KONG, May 16- China's yuan is set to record a small weekly loss against the dollar after posting its strongest week in more than two years last week, as the market awaits clearer signals on direction. The People's Bank of China set the official midpoint at 6.1628, up 0.02 percent from the previous day's 6.1640.

  • NEW DELHI, May 16- Early counting of results in India's general election put opposition leader Narendra Modi on course for a resounding victory that would hand him a clear mandate for his agenda to revive growth and create jobs. The ruling Congress party alliance was ahead in just 70, according to NDTV news.

  • GSK case a "warning" to behave for MNCs in China: Xinhua Thursday, 15 May 2014 | 11:36 PM ET

    SHANGHAI, May 16- Corruption charges against British drugmaker GlaxoSmithKline Plc in China are a "warning" to other foreign firms operating in the country that unethical behaviour will be punished, according to a commentary from the official Xinhua news agency on Friday.

  • BEIJING, May 16- China drew $40.3 billion in foreign direct investment in the first four months of 2014, up 5 percent from a year earlier, with the lion's share going to the services industry, the Commerce Ministry said on Friday. In April alone, China attracted $8.7 billion in FDI, up 3.4 percent from a year ago.

  • SYDNEY/ SINGAPORE, May 16- The euro was back in familiar territory against the dollar on Friday, having staged a rebound from a 2-1/ 2- month trough as investors booked profits on bearish positions ahead of the weekend.

  • *Nikkei turns negative on week, strong yen hits exporters. *Fall in U.S. stocks, yields raise concerns. TOKYO, May 16- Japanese shares stumbled on Friday as the combination of a stronger yen and a second day of declines on Wall Street depressed sentiment, leaving the market poised for the third-week of losses in the past month.

  • *First results show BJP leading in 16 seats vs. 6 for Congress. NEW DELHI, May 16- Counting of votes began on Friday after India's mammoth election, which could usher in the most profound economic change in a generation if opposition leader Narendra Modi wins a clear mandate for his agenda to revive growth and create jobs.

  • *Asia shares follow overnight Wall Street slide. A second day of losses on Wall Street pulled MSCI's broadest index of Asia-Pacific shares outside Japan down 0.4 percent. The index has gained about 2 percent on the week during which Wall Street set the tone by climbing to record highs.

  • MONTERREY, May 15- Mexico's Cemex, one of the world's leading cement makers, on Thursday promoted Chief Financial Officer Fernando Gonzalez to chief executive, signaling continuity after the sudden death of Lorenzo Zambrano earlier this week.

  • RIO DE JANEIRO, May 15- Centrais Eletricas Brasileiras SA, Latin America's largest utility, on Thursday recorded a 986 million first-quarter profit, its biggest in a year and a half, as a drought sent power prices to record highs.

  • *LME copper also traded flat at $6,889 a tonne by 0132 GMT, from the previous session, but a stone's throw from Wednesday's two month peaks of $6,940 a tonne. *The most-traded August copper contract on the Shanghai Futures Exchange was flat at 48,510 yuan a tonne but not far from two-month highs touched the previous session at 48,750 yuan a tonne.

  • In recent months, grumbling has given way to blockades of the private commuter buses that pick up technology workers downtown and ferry them to their workplaces south of the city at companies such as Google Inc, Facebook Inc and Yahoo Inc..

  • SINGAPORE, May 16- U.S. crude futures rose towards $102 a barrel on Friday, heading for its biggest weekly gain in five weeks on the back of a resurgence of tensions in Ukraine and upbeat U.S. economic data. *U.S. crude for June delivery rose 29 cents to $101.79 a barrel by 0056 GMT after falling 87 cents to settle at $101.50 a barrel.

  • The federal decision required Boeing to "cease and desist" and among other measures to post within the next two weeks a notice saying employees are entitled to join a union and participate in union activities and that Boeing won't videotape, photograph or watch union activities, or "create an impression that we are watching your union activities."