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  • *North Sea supply seen rising to highest in four months. LONDON, May 3- Oil fell on Tuesday as rising output from the Middle East and North Sea renewed concerns about a global supply overhang while economic data painted a negative outlook for the demand outlook. Brent crude futures were trading 44 cents lower at $45.39 a barrel at 1101 GMT, retreating from earlier...

  • DERBYSHIRE, Britain _ Mallinckrodt PLC on Tuesday reported fiscal second-quarter profit of $118.3 million. Mallinckrodt expects full-year earnings in the range of $8.15 to $8.50 per share. Mallinckrodt shares have declined 19 percent since the beginning of the year.

  • LONDON— Two firms have expressed interest in buying the available assets of Tata Steel UK, setting up rival bids that could help revive the troubled industry in Britain. Commodities trading firm Liberty House said Tuesday it has submitted a letter of intent to bid for Tata Steel's available assets in the U.K., including the massive Port Talbot steel works in...

  • LONDON, May 3- Metals group Liberty House will submit a letter of intent to buy the British assets of Tata Steel on Tuesday, a spokeswoman said, in the first concrete bid since the Indian conglomerate put the business up for sale, threatening thousands of jobs. India's Tata group announced plans to sell its entire UK steel operation in March, leaving the government...

  • *Q1 pretax profit $6.1 bln vs $4.3 bln forecast. LONDON/ HONG KONG, May 3- Prospects for higher dividends at HSBC dimmed on Tuesday after Europe's biggest bank reported a 14 percent drop in quarterly profit and flat capital reserves. HSBC booked a pretax profit of $6.1 billion for the first three months of this year, down from $7.1 billion a year ago, but above the...

  • LONDON, May 3- Metals group Liberty House will submit a letter of intent to buy the British assets of Tata Steel on Tuesday, a spokeswoman said, in the first concrete bid since the Indian conglomerate put the business up for sale, threatening thousands of jobs. Liberty's Executive Chairman Sanjeev Gupta had been the first businessman to express an interest in...

  • BEIJING— HSBC Holdings PLC says its latest quarterly profit fell 18 percent from a year earlier due to global market volatility. In a statement, chief executive Stuart Gulliver blamed "extreme levels of volatility" in January and February that he said hurt revenue in HSBC's markets and wealth management businesses. HSBC is in the midst of a reorganization aimed...

  • TUESDAY, MAY 3 PRETORIA- South African Reserve Bank releases its May 2016 financial stability review- 1600 GMT. BUCHAREST- Romania Central Bank interest rate decision- 0800 GMT. PRAGUE- Czech National Bank monetary policy meeting, with a statement and a presentation- 1100 GMT.

  • TOKYO, May 3- A spate of high-profile scandals at leading Japanese companies show reforms and rhetoric aimed at improving the country's corporate governance do not go far enough to unwind the culture of secrecy and hierarchy that plagues Japan Inc.. Nearly five years after Michael Woodford was fired for exposing a cover-up at Olympus Corp, the British ex-CEO...

  • NEW DELHI, May 3- Plans by India's coal monopoly to buy billions of dollars of new machinery and outsource work are facing resistance from powerful unions worried about job losses, in a potential blow to Prime Minister Narendra Modi's promise to bring electricity to all. The increase turned coal shortages at India's power plants to oversupply, making it one of...

  • SYDNEY/ LONDON, May 2- Australian tech entrepreneur Craig Wright identified himself as the creator of controversial digital currency bitcoin on Monday but experts were divided over whether he really was the elusive person who has gone by the name of Satoshi Nakamoto until now. But Wright made no reference to the row in a BBC interview identifying himself as...

  • ICE, which owns the New York Stock Exchange, will soon launch a real-time pricing index for bitcoin, after it began publishing settlement prices in May 2015, said Dwijen Gandhi, head of indexes for the NYSE, in a statement. The NYSE also is evaluating the inclusion of data from a number of exchanges for its settlement price, which was initially based only on...

  • LOS ANGELES— The mystery creator of the digital currency bitcoin has finally stepped forward. Australian inventor Craig Steven Wright announced Monday that he is " Satoshi Nakamoto," the elusive, pseudonymous bitcoin founder. In interviews with the Economist, BBC, GQ and a few bitcoin insiders, bolstered by a technical demonstration intended to prove that he and...

  • NEW YORK, May 2- A weakening U.S. dollar and optimism that commodity prices will steady boosted global stock markets on Monday, pushing down U.S. "I think we are at a turning point" in sentiment, said Bernard Baumohl, managing director and chief global economist at the Economic Outlook Group in Princeton, New Jersey. MSCI's measure of world stock indexes rose 0.2...

  • *Dollar steadies after touching 18- month low of 106.14 yen. NEW YORK, May 2- The dollar edged up against the yen on Monday following its biggest weekly loss in more than seven years, but it declined against other major currencies, particularly the euro, which was helped by stronger German manufacturing data. "It's a difficult process for the BOJ to manage," said...

  • SYDNEY/ LONDON, May 2- Australian tech entrepreneur Craig Wright identified himself as the creator of controversial digital currency bitcoin on Monday but experts were divided over whether he really was the elusive person who has gone by the name of Satoshi Nakamoto until now. But Wright made no reference to the row in a BBC interview identifying himself as...

  • *Yen rises to highest since October 2014. NEW YORK, May 2- A weakening U.S. dollar and optimism that commodity prices will steady boosted global stock markets on Monday, while U.S. "I think we are at a turning point" in sentiment, said Bernard Baumohl, managing director and chief global economist at the Economic Outlook Group in Princeton, New Jersey.

  • *OPEC's April output near record highs- Reuters survey. NEW YORK, May 2- Oil prices fell about 3 percent on Monday as production from the Organization of the Petroleum Exporting Countries neared all-time peaks and record speculative buying in global benchmark Brent sparked profit-taking on last month's outsized rally. Iraq's April exports from southern...

  • MILAN/ LONDON, May 2 (Reuters)- European shares edged up on Monday after sharp declines in the previous session, with German shares outperforming the broader market after a positive manufacturing survey. Trading volumes were thin as the UK market and other bourses in Europe were closed for a public holiday. Germany's DAX rose 0.8 percent after data showed factory...

  • *Yen rises to highest since October 2014. NEW YORK, May 2- U.S. stocks rose on Monday as a weakening dollar and steadying commodity prices shifted investor sentiment from weak earnings and poor economic data in the first quarter to optimism about the second, also pushing U.S. "I think we are at a turning point," said Bernard Baumohl, managing director and chief global...