×

Wires

  • *Oct air freight demand up 8.2 pct. GENEVA, Dec 7- Demand for air freight rose 8.2 percent in October, the fastest rate of growth in 18 months and raising expectations for the usually busy end of the year, the International Air Transport Association said on Wednesday. After a weak start to the year, demand for transporting goods via air has picked up, helped by economic...

  • At that time the company also announced a cost-cutting plan that included lowering operating expenses in 2017 to about $350 million, compared with $450.9 million in 2015, and more than halving its 2017 capital budget to about $100 million. The company also forecast 2017 revenue, excluding certain items, of $2.10- $2.60 billion, well below analysts average...

  • *Bank of Canada meeting eyed. LONDON, Dec 7- Most major currencies treaded water on Wednesday with traders looking ahead to a meeting of the European Central Bank on Thursday that could set the tone for markets after the sharp moves in the wake of last month's U.S. elections. It had slumped on Monday to $1.0505, its lowest since March 2015, in a knee-jerk reaction after...

  • KIEV, Dec 7- A second attempt to auction Ukraine's state-owned Odessa Portside Plant failed to attract any bids, the State Property Fund said on Wednesday- a major setback for a Western-backed push for privatization and reform. Ukraine is already struggling to convince its international backers, which include the International Monetary Fund and Western...

  • KIEV, Dec 7- A second attempt to auction Ukraine's state-owned Odessa Portside Plant failed to attract any bids, the State Property Fund said on Wednesday- a major setback for a Western-backed push for privatisation and reform. Ukraine is already struggling to convince its international backers, which include the International Monetary Fund and Western...

  • LONDON, Dec 7- Oil prices slipped on Wednesday on doubts production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. Oil prices surged almost 20 percent after the Organization of the Petroleum Exporting Countries and Russia announced last week that they would cut production next...

  • Dec 7- SunPower Corp, the No. 2 U.S. solar panel maker, said on Wednesday it would lay off about 25 percent of its workforce, or 2,500 employees, and close one plant as part of a cost-cutting plan it announced last month. SunPower, majority owned by French energy giant Total SA, said it expects to incur restructuring charges of $225- $275 million through the end of 2017..

  • The Montreal- based retailer opened 18 stores in the third quarter ended Oct. 30, bringing the total number of stores to 1,069.. Dollarama's general, administrative and store operating expenses rose about 5.3 percent to C $116.97 million. The company's net income rose to C $110.06 million, or 92 Canadian cents per share, in the quarter, from C $100.08 million, or 78...

  • Dec 7- Digital Asset Holdings, a blockchain startup backed by some of the world's largest banks, said on Wednesday it had developed a platform to allow traders to use blockchain technology without giving out confidential information on their trades. The new platform will form the basis of the technology that Digital Asset is building for financial...

  • UPDATE 1-Canada's Dollarama reports better-than-expected profit.

  • TORONTO, Dec 7- Financial strategists expect Canada's main stock index to rise more slowly in 2017 but to reach an all-time high by the end of next year if U.S. But risks to that outlook have multiplied, the respondents said, citing Trump's protectionist talk on trade, a sharp jump in global bond yields, and Canada's wobbly domestic economy as reasons for caution.

  • STUTTGART, Dec 7- German auto supplier ZF has launched the sale of its Body Control Systems division, Chief Executive Stefan Sommer said, seeking to shed assets it no longer deems essential after its takeover of rival TRW. "We are at a very early stage," Sommer told journalists at the Stuttgart Economic Press Club in remarks embargoed for Wednesday.

  • MOSCOW, Dec 7- Inflationary risks mean Russia should keep monetary policy moderately tight, analysts at the country's central bank said in a report released on Wednesday. Data suggested the Russian economy had scant potential for growth in the fourth quarter of this year, they said. The opinions contained in the report did not necessarily reflect the official...

  • Dec 7- U.S. stock index futures rose for the third straight day, as investors continued to bet on a post-election rally that has powered major Wall Street indexes to a series of record highs. *President-elect Donald Trump's proposals to boost infrastructure spending and simplify regulations have boosted financials and industrial stocks since the election on...

  • *India central bank leaves repo rate at 6.25 pct. MUMBAI, Dec 7- India's central bank unexpectedly kept its key policy rate unchanged at 6.25 percent on Wednesday, despite calls for action in the face of an intense cash shortage that threatens to slam the brakes on the world's fastest-growing large economy. Pressure on the central bank and its governor, Urjit Patel,...

  • Dec 7- Canadian dollar store operator Dollarama Inc reported a 10 percent rise in quarterly profit on Wednesday as people spent more in its stores. The company's net income rose to C $110.06 million, or 92 Canadian cents per share, in the third quarter ended Oct. 30, from C $100.08 million, or 78 Canadian cents per share, a year earlier. Sales rose 11.2 percent to C...

  • LONDON, Dec 7- A motion to be debated in parliament on Wednesday which is set to back Prime Minister Theresa May's Brexit timetable does not impact on a legal battle over who has the right to trigger EU divorce talks, the UK Supreme Court heard. The government is currently fighting a ruling at the Supreme Court which said ministers cannot trigger Article 50 without...

  • PARIS/ SINGAPORE, Dec 7- Chicago corn futures edged lower on Wednesday with prices falling after three days of gains on expectations of bumper production in Brazil early next year while wheat continued to come under pressure from ample global supplies. "Dryness in Argentina is a concern, but excellent conditions in Brazil may dampen the impetus to push prices...

  • PARIS, Dec 7- French energy markets regulator CRE is withholding approval for a planned second power link between France and Britain to assess the impact of Brexit on the project, it said on Wednesday. CRE said it approved RTE's 1.525 billion euros budget for 2017 investments, compared with 1.549 billion approved for 2016, including some initial spending...

  • *Ukraine was promised visa-free regime by the European Union. Kiev jittery about waning support in stand-off with Russia. BRUSSELS/ KIEV, Dec 7- The European Union is putting its credibility and reputation at risk by letting internal political wrangling stall a promised easing of visa requirements for Ukraine and Georgia, the head of the European Council said.