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Wires

  • *UAE and Iraq pledge to catch up with output cut targets. *Iran, Libya and Nigeria remain exempt from OPEC production cuts. NEW YORK, Feb 27- Oil prices ended little changed on Monday as the prospect for U.S. crude production to continue growing offset reports of high compliance to the OPEC production cut agreement and record bullish bets that prices would rise...

  • Feb 27- American International Group Inc's directors are discussing whether to penalize or oust Chief Executive Peter Hancock over a major setback in the insurance firm's turnaround plan, the Wall Street Journal reported, citing people familiar with the matter. AIG's net loss widened to $3.04 billion, or $2.96 per share, in the fourth quarter ended Dec. 31, from...

  • NEW YORK/ LONDON, Feb 27- Gold fell after tapping a 3-1/ 2- month high on Monday as U.S. ounce by 2:43 p.m. EST, after rising to $1,263.80, the highest since Nov. 11, but prices failed to hold above the 200- day moving average at $1,260.74. Trump is due to address Congress on Tuesday.

  • TORONTO, Feb 27- Manulife Financial Corp said on Monday its banking subsidiary was fined by Canada's financial intelligence agency last year for what Manulife described as administrative lapses in reporting financial transactions. The Financial Transactions and Reports Analysis Centre of Canada last April fined an unnamed Canadian bank C $1.1 million,...

  • NEW YORK, Feb 27- President Donald Trump sought on Monday to bring the nation's largest insurance companies on board with his plans to overhaul Obamacare, saying their help was needed to deliver a smooth transition to the Republicans' new plan. "We must work together to save Americans from Obamacare you people know that and everyone knows that- to create more...

  • NEW YORK, Feb 27- Johnson& Johnson on Monday said the average list price of its drugs rose less than 10 percent each year since 2012, noting that the net price paid for the drugs, which includes discounts and rebates, was significantly lower. The company released a report with its price increase history in response to widespread outcry over high U.S. prices for...

  • FCC Chairman Ajit Pai had told the Wall Street Journal in an interview on Monday at the Mobile World Congress in Barcelona that he did not foresee a role for the FCC on the takeover and his comments were confirmed to Reuters by FCC spokesman Neil Grace. In January, AT&T said it expected to be able to bypass the FCC because it would not seek to transfer any Time Warner...

  • TORONTO/ NEW YORK, Feb 27- Milestone Apartments Real Estate Investment Trust, which has agreed to be acquired by Starwood Capital Group for about C $1.7 billion, is in talks with the U.S. private investment firm about raising its bid, people familiar with the situation told Reuters. Milestones units, which were unchanged before the Reuters report, rose as much as 2.7...

  • LONDON, Feb 27- British consumer morale edged lower in February as rising inflation following last year's Brexit vote made householders warier about the outlook for their finances, a survey showed on Monday. The report by market research firm GfK pointed to increased financial pressure on households in the year ahead and added to signs that consumer spending-...

  • BARCELONA, Feb 27- The brave new world of remote-controlled cars is now technically possible using wireless technologies which are set to be commonplace early in the next decade, two major telecoms companies said at a test drive staged on Monday during an industry conference in Barcelona. The driver of the vehicle took the wheel from the floor of the Fira...

  • Trump has threatened to slap hefty taxes on imports from Mexico to the United States and to scuttle the North American Free Trade Agreement with Mexico and Canada if it cannot be renegotiated to benefit U.S. interests. Femsa, which said it would raise capital expenditure modestly this year to $1.3 billion, flagged uncertainty over NAFTA, foreign direct...

  • The latest drugmaker move came Monday, when Johnson& Johnson, the world's biggest maker of health care products, issued its first public report on price increases for its drugs. On Monday, Johnson& Johnson reported that over the past five years, the list price, or retail price, of its drugs rose less than 10 percent each year on average, while the net price, the payment it...

  • JOHANNESBURG— African telecommunications giant MTN warned shareholders Monday to expect big losses caused by a $1 billion regulatory fine in Nigeria, damaging foreign exchange rates and a share offering to promote black empowerment in South Africa. A statement from the South Africa- based company said it would announce full-year losses for 2016 on...

  • In a mistake that stunned the Dolby Theatre crowd in Hollywood and a television audience worldwide, presenters Warren Beatty and Faye Dunaway at first said the winner was romantic musical "La La Land," the presumed best picture favorite. Just days before the Oscars, Cullinan told the Huffington Post in an interview that the procedure for dealing with the...

  • *Martin Daum to take over as trucks chief from March 1. BERLIN, Feb 27- Daimler has picked the head of its North American trucks division to run group-wide truck operations, it said on Monday, avoiding a lengthy search for a successor to departed chief Wolfgang Bernhard. Martin Daum, 57, president and chief executive of Daimler's trucks business in North America, was...

  • Feb 27- American International Group Inc's directors are discussing whether to penalize or oust Chief Executive Peter Hancock over a major setback in the insurance firm's turnaround plan, the Wall Street Journal reported, citing people familiar with the matter. Fifteen directors are expected to debate on various potential actions at a board meeting in...

  • MEXICO CITY, Feb 27- Mexican state-owned oil company Pemex on Monday reported a much smaller fourth-quarter loss, due in large part to higher crude prices. The loss narrowed to $1.58 billion from $9.8 billion a year earlier. Revenue at the company officially known as Petroleos Mexicanos rose more than 20 percent to $15.67 billion, according to a filing to the...

  • ABUJA, Feb 27- A Nigerian court will rule on March 13 on a request by Royal Dutch Shell and Italy's Eni to lift the temporary seizing of a long-disputed oilfield, a judge said on Monday. Shell's lawyer Kayinsola Ajayi said the Economic and Financial Crimes Commission had failed to follow the necessary steps such as issuing an arrest warrant first before seeking a...

  • LONDON— Former Prime Minister John Major lambasted Britain's preparations for leaving the European Union on Monday, saying the government must offer more charm and less "cheap rhetoric" if it wants to get a good deal. Major, who led the U.K.' s Conservative government between 1990 and 1997, accused pro-Brexit politicians of giving Britons unrealistic...

  • Feb 27- Wal-Mart Stores Inc on Monday won the dismissal of a U.S. lawsuit accusing the world's largest retailer of defrauding shareholders in its Wal-Mart de Mexico unit by concealing its suspected bribery of public officials in Mexico. District Judge Katherine Polk Failla in Manhattan said holders of Wal-Mex's American depository shares cannot pursue...