Wires

  • *BHP shuts Olympic Dam mine after power outage. SYDNEY, Sept 29- A power outage in South Australia has halted more than 300,000 tonnes of annual copper production capacity and knocked out the Australian state's only lead smelter, producers said on Thursday. A massive blackout in South Australia on Wednesday forced BHP Billiton to suspend production at its...

  • LONDON, Sept 29- Sterling held steady above $1.30 on Thursday, supported by improved risk appetite in global markets, although expectations that the Bank of England might further ease monetary policy in coming months checked gains. Sterling was flat at $1.3025, having struck a five-week low of $1.2915 on Sept. 23, its lowest since mid-August.

  • LONDON, Sept 29- British outsourcing company Capita cut its full-year profit forecast by as much as 13 percent on Thursday, the latest support services firm to warn that Brexit was delaying client decisions, wiping a quarter off its market value. Capita, which employs 75,000 staff in the United Kingdom, Europe, South Africa and India, said its second-half...

  • *Shanghai lead surges to highest since 2013. MANILA, Sept 29- London lead futures climbed to the highest since May last year on Thursday amid worries over tighter supply in top market China and elsewhere, while nickel slipped below seven-week highs with supply risks from top ore exporter Philippines seen limited. The supply of lead concentrate in China is "very...

  • BRUSSELS, Sept 29- A planned reform of global banking rules being discussed by the United States, Europe, Japan and other major economies risks negatively affecting European banks and needs to be changed, the EU financial services commissioner said on Thursday. But opponents, mostly in Europe and Japan, reckon the review goes too far, as they fear it...

  • When she openly blamed Russia for recent U.S. cyber break-ins, Donald Trump wondered whether to blame overseas governments or overweight hackers working from home. "She's saying Russia, Russia, Russia, but I don't— maybe it was. I mean, it could be Russia, but it could also be China, "Trump said during this week's presidential debate.

  • LONDON, Sept 29- Euro zone government bonds yields were broadly higher on Thursday, with Finland's 10- year yield moving out of negative territory, as a surprise decision by OPEC to trim crude oil output boosted both oil prices and risk appetite globally. While there was some caution as markets opened on Thursday as to how OPEC would implement such a plan, oil...

  • *Commodity currencies benefit from OPEC output cut deal. LONDON, Sept 29- The dollar rose 1 percent against the safe-haven yen on Thursday to hit an eight-day high as investors moved into riskier assets following an OPEC deal to cut oil output. The currencies of oil-exporting countries such as Canada and Norway surged after the deal late on Wednesday, but were all...

  • *Focus shifts to U.S., Europe economic data. The Organization of Petroleum Exporting Countries on Wednesday agreed modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low crude prices. "Once again struggled to find direction in low volumes, with...

  • LONDON, Sept 29- European shares climbed higher in early trading on Thursday, with energy shares rallying after oil prices surged overnight after OPEC struck a deal to limit crude output. The Organization of the Petroleum Exporting Countries reached an agreement in Algiers to cut production to a range of 32.5-33.0 million barrels per day.

  • LONDON, Sept 29- European shares climbed higher in early trading on Thursday, with energy shares rallying after oil prices surged overnight after OPEC struck a deal to limit crude output. The Organization of the Petroleum Exporting Countries reached an agreement in Algiers to cut production to a range of 32.5-33.0 million barrels per day.

  • WASHINGTON— Lawmakers are venting outrage over high prescription drug costs, but if Congress is looking for culprits, it might want to look in the mirror. In the last 13 years, Congress passed major legislation that expanded taxpayer-financed coverage for prescription drugs but lacked explicit mechanisms for dealing with costs, instead relying mainly on...

  • SHANGHAI, Sept 29- The Industrial and Commercial Bank of China, China's largest bank, has successfully issued 1.077 billion yuan of non-performing asset-backed securities, the bank said in a media release. The non-performing loan ratio in China's commercial banking sector was 1.81 percent at the end of the first half of 2016, up from 1.75 percent in March,...

  • BRUSSELS, Sept 29- A planned reform of global banking rules being discussed by the United States, Europe, Japan and other major economies risks negatively affecting European banks and needs to be changed, the EU financial services commissioner said on Thursday. "As things stand, the proposals Basel has issued for consultation would imply significant capital...

  • SHANGHAI, Sept 29- China stocks rose on Thursday, led by energy shares, but turnover in Shanghai was near a four-month low as traders braced for a long holiday. All the main sectors rose in China, with energy shares leading gains. "The market is still in a range-bound trading pattern, and I don't see a clear trend forming in either direction," said David Dai, Shanghai- based...

  • BERLIN, Sept 29- Germany will not grant any more state aid for ailing banks, a senior lawmaker in Chancellor Angela Merkel's conservative bloc said on Thursday, a day after the government denied it was working on a rescue plan for Deutsche Bank, its biggest lender. Deutsche is disputing a fine of up to $14 billion from the U.S. Department of Justice.

  • COPENHAGEN, Denmark— Danish drug maker Novo Nordisk says it plans to lay off some 1,000 employees globally to reduce operating costs because of "a challenging competitive environment, especially in its large US market." Copenhagen- based Novo Nordisk said Thursday the layoffs will affect its research and development departments, headquarters staff...

  • EU'S DOMBROVSKIS SAYS BASEL DEAL STILL IMPORTANT, CREDIBLE FRAMEWORK MUST BE MAINTAINED.

  • EU'S DOMBROVSKIS SAYS EUROPE CANNOT SUPPORT GLOBAL BANKING REFORM THAT WOULD WEIGH UNDULY ON ECONOMY.

  • EU'S DOMBROVSKIS SAYS COMMISSION WANTS TO AVOID BANK REFORM THAT WOULD LEAD TO SIGNIFICANT INCREASE IN CAPITAL REQUIREMENTS.