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Wires

  • MONACO, Sept 11- Reinsurance prices are continuing to fall but at a slower pace than in previous years, Munich Re, the world's largest reinsurer, said on Sunday, as the reinsurance industry faces a fifth year of falling premiums. "Pressure on prices, terms and conditions has eased off slightly in recent renewal rounds," Munich Re said in a statement at the reinsurance...

  • LONDON, Sept 11- Britain's interior minister Amber Rudd said on Sunday she was looking at a work permits system to control migration from the European Union, responding to Brexit voters' demand for tighter border controls. Although formal negotiations on leaving the EU have yet to begin, Britain is searching for a way to satisfy voters who backed leaving the EU...

  • MILAN, Sept 11- The European Central Bank has given a preliminary nod to the possible appointment of Marco Morelli, head of Bank of America Merrill Lynch in Italy, as chief executive of ailing lender Monte dei Paschi di Siena, a source close to the matter said. If confirmed the ECB's informal green light, first reported by Ansa news wire, would help pave the way for a...

  • *Bank of England seen on hold after Aug stimulus. LONDON, Sept 11- The Bank of England holds a monetary policy meeting on Thursday as more hard economic numbers trickle in following June's Brexit shock, while U.S. data and a speech by policymaker Lael Brainard will give Fed-watchers food for thought. Speaking to lawmakers on Sept. 7, Governor Mark Carney defended the...

  • *China- North Korea trade zones near Dandong fail to take off. DANDONG, China, Sept 11- Towering above the murky waters, the New Yalu River Bridge was supposed to symbolise a new era in relations between China and North Korea, helping bring investment to landmark free trade zones jointly run with the impoverished and isolated state. China's anger at North Korea for...

  • NEW YORK, Sept 11- With the U.S. government siding in favor of Native American protests against a key North Dakota pipeline, local oil producers and shippers are facing the possibility of greater delays in getting a quick route to ship oil to the Gulf of Mexico. On Friday, following ongoing protests from environmentalists and Native American tribes, the U.S....

  • LONDON, Sept 9- U.S. crude oil inventories plunged by more than 14.5 million barrels in the week ending on Sept. 2, the largest weekly drop since 1999.. Crude imports fell from an average of 8.9 million barrels per day in the week ending Aug. 26 to just 7.1 million bpd in the week ending Sept. 2, according to the U.S. Energy Information Administration.

  • CANNON BALL, N.D., Sept 10- Native Americans protesting construction of a North Dakota oil pipeline near land they consider sacred on Saturday quietly celebrated the U.S. government's decision to pause construction on federally owned land, and vowed to press for a full halt to the project. On Friday, the Obama administration temporarily halted construction on...

  • LOS ANGELES, Sept 10- Dock workers began unloading furniture, clothing and other cargo on Saturday from a container ship owned by bankrupt Hanjin Shipping Co Ltd, breaking a logjam that has stranded goods on a dozen vessels bound for the U.S. West Coast. The Hanjin Greece docked at the Port of Long Beach in California early Saturday morning and workers were hauling...

  • ALGIERS, Sept 10- Algeria's energy minister has said there is a consensus among OPEC and non- OPEC members about the need to stabilize the oil market to support prices, state news agency APS reported on Saturday. Bouterfa has traveled to Qatar, Iran and Russia this week to push for the oil price to be stabilized between $50 and $60, and said he was "confident" about the...

  • SEOUL, Sept 10- Samsung Electronics Co Ltd on Saturday urged users of its Galaxy Note 7 phones to turn in their handsets as soon as possible as part of a recall aimed at limiting the damage caused by the fire-prone devices. The world's top smartphone maker said last week it would exchange all Note 7 phones in 10 markets including South Korea and the United States, a...

  • BRATISLAVA, Sept 10- Multinational companies should refrain from tax-avoidance practices and pay their fair share, the head of euro zone finance ministers said on Saturday in a new endorsement of the European Union's fight against tax-dodging. Times are changing, "the head of the eurogroup and Dutch Finance Minister Jeroen Dijsselbloem told reporters on...

  • SEOUL, Sept 10- Tech giant Samsung Electronics Co Ltd said on Saturday all users of Galaxy Note 7 smartphones subject to the ongoing global recall should turn in their devices as soon as possible.

  • MOSCOW, Sept 10- Russia plans to sign an agreement with Turkey next month on the implementation of the Turkish Stream gas export pipeline project, Russian Energy Minister Alexander Novak was quoted as saying on Saturday. Talks on the project were halted last year after Turkey shot down a Russian air force jet and Russia retaliated with trade sanctions but since...

  • BRATISLAVA, Sept 10- A rescue plan for Italian bank Monte dei Paschi will not be modified following the resignation on Thursday of its boss, the country's economy minister said on Saturday. Chief Executive Fabrizio Viola resigned as the Italian bank is working to complete a 5 billion-euro capital raising needed to stave off the risk of being wound down.

  • LONDON, Sept 10- Britain as a trading nation has become "too lazy and too fat" and business leaders are more interested in playing golf on Friday afternoons than in seeking new export markets, International Trade Secretary Liam Fox was recorded saying. Fox, who was a prominent campaigner for Britain to leave the European Union and says the country must forge new...

  • ALGIERS, Sept 10- Algeria's energy minister says there is a consensus among OPEC and non- OPEC members about the need to stabilise the oil market to support prices, state news agency APS reported. Bouterfa has travelled to Qatar, Iran and Russia this week to push for stabilising the oil price between $50 and $60, and said he was "confident" about the outcome of an OPEC...

  • BRATISLAVA, Sept 10- Britain's exit from the European Union will create difficulties for the European Investment Bank, a lender owned by EU governments, the bank's president Werner Hoyer said on Saturday. "The United Kingdom is a big and important shareholder of the European Investment Bank and an important member state of the European Union.

  • FAA, some airlines ban use or charging of Note 7 in flight. SEOUL/ NEW YORK, Sept 10- A U.S. government safety agency on Friday urged all consumers to stop using Samsung Galaxy Note 7 phones, which are prone to catch fire, and top airlines globally banned their use during flights. It voluntarily issued a recall last week for 10 markets, including South Korea and the United...

  • ALGIERS, Sept 10- Algeria's energy minister says there is a consensus among OPEC and non- OPEC members about the need to stabilise the oil market, state news agency APS reported. Noureddine Bouterfa was speaking after meeting his Saudi counterpart Khalid al-Falih and OPEC Secretary-General Mohammed Barkindo in Paris late on Friday. Bouterfa has been holding a...