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  • SEOUL/ HONG KONG, Sept 2- Tesco has picked private equity firm MBK Partners as preferred bidder to buy its South Korean unit for as much as $6.6 billion, sources said, as the British supermarket retreats from overseas and focuses on revitalising its domestic business. In what would be the largest-ever private equity deal in Asia, MBK bid around 7.8 trillion won, one...

  • *Expected to be largest PE deal in Asia. SEOUL/ HONG KONG, Sept 2- British retailer Tesco PLC has picked private equity firm MBK Partners as preferred bidder to buy its South Korean unit, people with direct knowledge of the process said, in a deal that could be valued at as much as $6.6 billion. MBK beat out bids from a combination of buyout firms Affinity Equity Partners...

  • SEOUL/ HONG KONG, Sept 2- British retailer Tesco PLC has picked private equity firm MBK Partners as preferred bidder to buy its South Korean unit, two people with direct knowledge of the process said, in what is set to be the largest ever private equity deal in Asia. Seoul- based MBK, one of the largest Asia- based private equity firms, is backed in its bid for Tesco's South...

  • *China official PMI at 3- year low; Markit reading at 6-1/ 2 yr low. LONDON/ BEIJING, Sept 1- China's giant manufacturing industry contracted while British and euro zone growth eased in August, rattling markets and reinforcing expectations interest rates may fall again or stay near zero for longer. It came as the People's Bank of China loosened policy for the second...

  • *China official PMI at 3- year low; Markit reading at 6-1/ 2 yr low. The Chinese government's measure of manufacturing showed activity contracted at the fastest pace in three years, while a survey by Markit, which focuses more on smaller, private firms, showed the factory sector's weakest performance in 6-1/ 2 years. Even China's services sector, which has been one of...

  • *Exports hobbled by China, Korea's biggest market. Australia and New Zealand Banking Group cut its forecast for South Korea's 2015 economic growth by half a percentage point to 2.2 percent, which would be the slowest growth since 2009. ING cut its projection to 2.3 percent from the previous 2.5 percent. The Bank of Korea's monetary policy committee next reviews...

  • SEOUL, Sept 1- South Korea's exports fell for an eighth straight month in August and at the fastest pace since 2009, preliminary data showed on Tuesday, as an economic slowdown in its biggest trade partner China dissipates foreign demand. Exports slumped 14.7 percent on-year to $39.3 billion in August, posting their sharpest decline since August 2009 while...

  • US stocks open modestly lower, led by energy sector Monday, 31 Aug 2015 | 1:12 AM ET

    BEIJING— Global stocks mostly fell on Monday after a U.S. KEEPING SCORE: In Europe, France's CAC-40 fell 0.6 percent to 4,647.27 and Germany's DAX lost 0.5 percent to 10,245.92. The U.K. was closed for a holiday.

  • BEIJING— Asian stocks fell Monday after a U.S. Sydney's S&P/ASX 200 lost 0.9 percent to 5,213.50 and Hong Kong's Hang Seng retreated 0.3 percent to 21,539.59. Seoul's Kospi was off 0.3 percent at 1,931.49 and Singapore also fell.

  • In private and in public at last week's global central banking conference in Jackson Hole, the message from visiting policymakers was that the Fed has telegraphed an initial monetary tightening and, following a year-long rise in the dollar, financial markets globally are as ready as they can be. But for Agustin Carstens, the top central banker in Mexico, a rate...

  • *Refinery outages, Yemen tensions and storm watch fuel gains. NEW YORK, Aug 28- World oil prices roared back to $50 a barrel in the second day of a frenetic short-covering rally on Friday, with violence in Yemen, a storm in the Gulf and refinery outages helping extend the biggest two-day rally in six years. Warplanes from a Saudi-led coalition killed 10 people in air...

  • *Refinery outages, Yemen tensions and storm watch fuel gains. NEW YORK, Aug 28- U.S. crude rose 6 percent on Friday, notching its first weekly gain in two months, after a rally in gasoline from refinery outages and concerns about strife in Yemen fed a second frenzied day of short-covering in oil. "A severely oversold and shorted oil market is creating a bid for covering...

  • *Refinery outages, Yemen tensions and storm watch fuel gains. NEW YORK, Aug 28- U.S. crude jumped as much as 7 percent on Friday as a rally in gasoline prices from refinery outages and concern about strife in Yemen prompted traders to scramble for a second day to cover short positions. U.S. crude's front-month was up $2.25, or 5.3 percent, at $44.81 a barrel by 1:46 p.m....

  • *Gasoline rally, Yemen tensions and storm watch fuel gains. NEW YORK, Aug 28- U.S. crude jumped 6 percent on Friday as a rally in gasoline prices and air raids in Yemen prompted traders to scramble for a second day to cover short positions, while market players also kept an eye on a storm that appeared to be approaching the oil-rich U.S. U.S. crude's front-month was up...

  • NEW YORK, Aug 28- The short-covering frenzy in global oil markets extended for a second straight day on Friday, pushing U.S. crude up as much as 5 percent in morning trade, getting extra support from a rally in gasoline futures, before both began consolidating. "A severely oversold and shorted oil market is creating a bid for covering in U.S. crude," said Chris Jarvis,...

  • LONDON, Aug 28- Oil prices steadied on Friday after bouncing back from six-and-a-half-year lows on recovering equities markets, strong U.S. economic growth and news of low crude supplies from Nigeria. Worries over China's economy have compounded the falls in recent weeks. A stock market rise, strong U.S. growth data and a pipeline outage in Nigeria provided an...

  • NEW YORK, Aug 27- Oil rocketed more than 9 percent higher on Thursday in one of the biggest one-day rallies in years, as recovering equity markets and news of diminished crude supplies set off a short-covering surge by bearish traders. The rally was aided by news of a force majeure on Nigerian oil exports declared by Shell and private data indicating more...

  • NEW YORK, Aug 27- Oil rocketed more than 6 percent higher on Thursday in a snapback from a deep two-month slump as stock market rallies and news of diminished oil supplies drove a short-covering surge by bearish traders. Brent's front month rose $3.05 to $46.19 a barrel by 11:20 a.m. EDT, staging the biggest percentage gain since early this year and hitting...

  • *Global stock markets rise as China shares recover. *Outlook uncertain on supply glut and China fears. *Standard Chartered slashes crude price forecasts.

  • *Global stock markets rise on Asia, Wall Street rally. *Standard Chartered cuts crude price forecasts sharply. However, do not be wrong footed by a correction higher, " PVM Oil Associates technical analyst Robin Bieber said.