Wires

  • NEW YORK, Sept 28- Wall Street ended higher on Wednesday after an OPEC agreement to limit crude output fueled a rally in oil prices and energy shares and more than offset nervousness about a tight race for the U.S. presidency.

  • *OPEC will limit output at 32.5 million bpd- sources. ALGIERS, Sept 28- OPEC agreed on Wednesday to cut its oil output for the first time since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices. How much each country will produce is to be decided at the next formal meeting of OPEC in November,...

  • In its first major energy decision since taking power last November, the Liberal government on Tuesday granted a permit to Malaysia's Petronas to construct the liquefied natural gas plant in the province of British Columbia. The federal cabinet has promised that by Dec. 19, it will announce whether Kinder Morgan can more than double the capacity of its Trans...

  • *Dollar hits roughly 5- month low vs Norway's crown. NEW YORK, Sept 28- The U.S. dollar hit a roughly five-month low against the Norwegian crown and fell against other commodity-linked currencies on Wednesday after OPEC sources told Reuters the producing group agreed to reduce its oil output. Two sources in the Organization of the Petroleum Exporting Countries...

  • The company said it had entered into a non-binding agreement with lenders AB Opportunity Fund LLC, AB Value Partners LP and affiliates of Milfam II LP under which these lenders have offered to buy Cosi's assets and serve as a "stalking horse" bidder in a sale process. The company said it had net sales of $22.3 million, with net losses of about $3.1 million and cash on...

  • BERLIN— Struggling German airline Air Berlin says it plans to cut its fleet nearly in half and eliminate some 1,200 jobs as part of a restructuring to develop a leaner structure and focus on its most profitable routes. The airline said Wednesday that it would reduce its fleet of 144 planes by 75 as it concentrates on flights originating from Berlin and...

  • CHICAGO, Sept 28- U.S. corn and soybean futures weakened on Wednesday on expectations that drier weather in the coming days will allow farmers in the Midwest to ramp up the harvest of what is expected to be record-large crops, traders said. Chicago Board of Trade soft red winter wheat futures were mixed, with nearby contracts steady to weaker while deferred...

  • NEW YORK, Sept 28- Och-Ziff Capital Management Group LLC will pay $400 million and a subsidiary will plead guilty to resolve U.S. probes into its involvement in bribes paid to African officials, two people familiar with the matter said on Wednesday. A spokesman for the Justice Department declined comment while SEC representatives did not immediately respond...

  • Findings that the biggest changes were in the Upper Mississippi Valley, northern Great Plains and New England could help focus resources in dealing with a changing climate, said Stacey Archfield, a U.S. Geological Survey hydrologist and one of the study's authors. In weighing the impact climate change is having on flooding, researchers from the Geological...

  • VW BRAND CHIEF: VW GROUP MAY CONTINUE OFFERING DIESELS IN THE U.S.

  • VW BRAND CHIEF DIESS: NO FINAL DECISION ON WHICH DIESEL MODELS WILL BE OFFERED IN THE UNITED STATES AFTER 2020.

  • VANCOUVER, British Columbia _ Cardero Resource Corp. on Wednesday reported a loss of $213,000 in its fiscal third quarter. On a per-share basis, the Vancouver, British Columbia- based company said it had a loss of 1 cent. This story was generated by Automated Insights using data from Zacks Investment Research.

  • DETROIT, Sept 28- Auto industry consultancy Kelley Blue Book said on Wednesday that it expected that September U.S. auto sales fell 2 percent from a year ago, at 1.41 million vehicles, for a seasonally adjusted annualized rate of 17.4 million vehicles.

  • In court documents, Cosi Inc. said it has between $10 million and $50 million in assets and the same amounts in debt. Last month, the company reported a second-quarter loss of $3.1 million after reporting a loss of $3.8 million in the same period a year before. Cosi said that its lenders AB Opportunity Fund, AB Value Partners and firms connected to Milfam, are...

  • WASHINGTON, Sept 28- The U.S. Congress on Wednesday overwhelmingly rejected President Barack Obama's veto of legislation allowing relatives of the victims of the Sept. 11 attacks to sue Saudi Arabia, the first veto override of his eight-year presidency. The House of Representatives voted 348-76 against the veto, just hours after the Senate rejected it 97-1,...

  • NEW YORK, Sept 28- Oil prices rallied on Wednesday after OPEC members reached an agreement on a production-limiting deal, boosting energy sector shares. Norway, although not an OPEC member, is a major crude producer. The move in oil boosted shares in the energy sector of the S&P 500, giving direction to Wall Street indexes that had previously see-sawed near the...

  • NEW YORK, Sept 28- Och-Ziff Capital Management Group LLC will pay $400 million and a subsidiary will plead guilty to resolve U.S. probes into its involvement in bribes paid to African officials, two people familiar with the matter said on Wednesday. In a deal expected to be announced on Thursday, the largest publicly traded U.S. hedge fund firm will enter a deferred...

  • MEXICO CITY, Sept 28- Mexican national oil company Pemex is about to execute a debt management deal in international markets to improve the firm's finances, Pemex Chief Financial Officer Juan Pablo Newman said on Wednesday. At the end of the second quarter of this year, Pemex reported total debt of almost $185 billion. The company posted losses of nearly $7.7...

  • WASHINGTON, Sept 28- The U.S. Senate approved a stop-gap funding bill to avert a looming federal government shutdown on Wednesday, after Republicans and Democrats agreed to help Flint, Michigan, resolve its drinking water crisis. Democrats in the Senate and House had vowed to oppose the CR until Republicans agreed to an aid package for Flint, a city of more than...

  • In a model for how it plans to keep BlackBerry-branded handsets in the market, the company said it had signed a deal with Indonesia's BB Merah Putih to manufacture, distribute and promote new devices in that country, its largest handset market. BlackBerry said it was in late-stage discussions for a similar deal in China and working on several India initiatives.