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  • *Iraq, Saudis, Iran all signal higher output. NEW YORK, May 3- Oil prices fell for a second day on Tuesday, retreating further from the year's highs hit last week, as rising output renewed worries about the global glut of crude, the U.S. dollar rebounded and equity markets weakened. Iraq said its oil shipments from southern fields averaged 3.4 million barrels per day in...

  • May 3- The development of self-driving cars is a good example of how, and why, the future may be a less profitable place for investors. Volvo Cars, one of scads of technology and automotive firms working along the same lines, last week announced plans to test autonomous cars in London in 2017, touting how driverless technology will be a huge advance in safety.

  • *Gupta's Liberty House also interested in deal. Sanjeev Gupta's metals group Liberty House and a management buyout team called Excalibur said they had submitted an initial expression of interest in buying the assets ahead of a 1600 GMT deadline. The two groups had been racing to submit their interest after India's Tata Group announced plans in March to sell...

  • Harry Harrison, the co-head of Barclays' non-core division, told the London court on Tuesday that he had learnt during on-the-job training about the importance of setting Libor benchmark interest rates independently from a bank's commercial interests. Jay Merchant, Alex Pabon, Jonathan Mathew, Stylianos Contogoulas and Ryan Reich have each pleaded not...

  • They said the documents also showed the loophole in German tax rules had been exploited by some of the world's largest institutional investors including Blackrock and Norway's sovereign wealth fund to cut their tax bills. The report reignited a debate about tax avoidance in Germany, where politicians and government rounded on a scheme that Wolfgang...

  • *Iraq, Saudis, Iran all signal higher output. Iraq said its oil shipments from southern fields averaged 3.4 million barrels per day in April, up from 3.3 million bpd in March. Iran is also raising output after its emergence from Western sanctions in January and has nearly doubled exports to almost 2 million bpd since the start of the year.

  • NEW YORK, May 3- The yen jumped to an 18- month high against the dollar on Tuesday, extending gains on persistent doubts the Bank of Japan will intervene to stem a dramatic rise that has undermined attempts to reflate the world's third-biggest economy. At this stage, the market is sceptical whether they will follow through, "said Steven Englander, global head of G10...

  • LONDON/ MILAN, May 3 (Reuters)- European shares fell to three-week lows on Tuesday, with Commerzbank leading decliners after a slump in profits and miners tracking lower metals prices following weak factory data from China. Germany's Commerzbank fell 9.2 percent after posting a 52 percent drop in first-quarter net profit, hit by volatile capital markets and low...

  • MSCI last month said it would consult investors on the ease of access to the Nigerian stock market in the wake of currency controls introduced last year which could have led to it removing Nigeria from its frontier index. In a statement released late on Friday, the index provider said Nigeria will receive "special treatment" in its upcoming semi-annual index...

  • A woman waits for a subway train in New York City.

    Today, train delays are rising, and even a hiccup like a sick passenger or a signal malfunction can inundate stations with passengers.

  • *FTSE 100 some 13 pct below April 2015 record high. Concerns about a slowdown in China, the world's second-largest economy and a leading consumer of commodities, have also hit world stock markets, and the prices of oil and metals. Further evidence of weakness in China emerged on Tuesday, with a survey showing that activity at China's factories shrank for the 14th...

  • *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.

  • 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...