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Wires

  • March 30- Indian mining company Vedanta Resources Plc said on Thursday it has extended Chief Executive Tom Albanese's contract by five months until the end of August. Vedanta's executive chairman Anil Agarwal is leading the succession process to identify candidates to replace Albanese, the company said. Vedanta's shares have fallen 12.4 percent since...

  • SINGAPORE/ BEIJING, March 30- China's Zhenhua Oil is setting up an oil trading office in Singapore that will start operating in April, three sources at the company said on Thursday. "The new trading office is to serve the company's expanding business requirement and Singapore is a good platform for that," said a senior Zhenhua official said. Set up in 2003, Zhenhua, a...

  • Tom Massie, wasn't just "no" on the GOP health care bill to replace Barack Obama's Affordable Care Act. Yet in Kentucky, North Carolina, Tennessee and Iowa in the bitter aftermath of the GOP's epic failure, Republicans who blocked the legislation have won praise from constituents for stopping what many saw as a flawed plan, either in the legislation's substance or...

  • LONDON, March 30- European shares struggled for direction in early deals on Thursday as investors mulled implications of Britain formally beginning the process of leaving the European Union the day before. The reaction to Britain formally triggering the Brexit process on Wednesday was fairly muted from European shares, with the FTSE 100 index also ending...

  • STOCKHOLM, March 30- Budget fashion retailer H&M reported a smaller than expected decline in pretax profit for the latest quarter as tight control of costs helped to offset the impact of soft sales. H&M said conditions remained very tough in many key European markets and in the United States, with rapidly changing shopping behaviour and expectations.

  • BEIJING, March 30- China's Foreign Ministry said on Thursday that Chinese President Xi Jinping would travel to the United States to meet President Donald Trump at his Mar-a-Lago retreat in Florida on April 6-7.

  • SHANGHAI, March 30- China's main indexes capped the fourth day in the red as lingering concerns over liquidity were further heightened by curbs on property investment. China's central bank skipped open market operations for a fifth day and was set to drain 40 billion yuan on Thursday. The National Academy of Economic Strategy, a government think tank, urged...

  • *OPEC compliance with announced output cut increases. SINGAPORE, March 30- Oil prices rose on Thursday, extending two days of increases as supply disruptions in Libya lifted the market, although bloated U.S. crude inventories curbed gains. Traders said supply disruptions in Libya were lifting the market and that falling U.S. gasoline inventories pointed to a...

  • fears@ HONG KONG, March 30- China's yuan slipped to its lowest against the U.S. dollar in nearly a week on Thursday after the greenback firmed overnight, while interbank borrowing costs continued to edge higher on concerns about tighter liquidity heading into quarter-end. The People's Bank of China set the midpoint rate at 6.8889 per dollar prior to the market...

  • JOHANNESBURG, March 30- South Africa's rand firmed against the dollar early on Thursday ahead of the central bank's interest rates decision, but looked vulnerable to speculation of an imminent cabinet shake-up that could see Finance Minister Pravin Gordhan removed. *Local assets have been under pressure since President Jacob Zuma ordered Gordhan on Monday...

  • KIEV, March 30- The International Monetary Fund executive board will meet on April 3 to decide whether to disburse a $1 billion aid tranche to Ukraine as part of its $17.5 billion bailout program for the country, it said in a statement on Thursday.

  • WARSAW, Poland— Poles, who have settled in large numbers in Britain in recent years, expressed confusion and apprehension as Britain formally triggered the process to leave the European Union. "It makes me very sad," said Anna Koziolek, 51, a Warsaw airport employee who traveled to Britain to visit friends on Wednesday, the day that Britain officially launched the...

  • TOKYO, March 30- Japan's Nikkei share average dropped on Thursday pressured by a pause in the weakening yen trend, while semiconductor equipment makers firmed on gains in the Nasdaq market overnight. The Nikkei shed 0.8 percent to 19,063.22. The broader Topix slipped 0.9 percent to 1,527.59 and the JPX-Nikkei Index 400 declined 2.0 percent to 13,651.02.

  • LONDON, March 30- Lloyd's of London, the world's largest specialty insurance market, has chosen Brussels for its European Union subsidiary because of its strong regulatory framework, it said on Thursday, confirming earlier reports. "Brussels met the critical elements of providing a robust regulatory framework in a central European location, and will enable...

  • Tokyo's benchmark Nikkei 225 index lost 0.8 percent to 19,059.75 and South Korea's Kospi slipped 0.3 percent to 2,161.60. The People's Bank of China said in a statement that liquidity in the banking system was at a "relatively high level," the official Xinhua news agency reported. MARKET INSIGHT: "Definitely one of the problems is the liquidity problem at this...

  • TOKYO, March 30- Toyota Motor Corp on Thursday said it was recalling a total of about 2.9 million vehicles in Japan, China, Oceania and other regions including its Corolla Axio sedan and RAV4 SUV crossover due to potentially faulty airbag inflators. At least 16 deaths have been linked to exploding Takata inflators, mainly in the United States, prompting the auto...

  • *Toshiba hopes to raise at least $9 bln from chip unit sale. TOKYO, March 30- Toshiba Corp's shareholders on Thursday approved a proposal to split off the Japanese company's prized NAND flash memory unit, paving the way for a sale of a majority stake or even all of the business. It hopes to raise at least $9 billion and the company has said it believes the unit will be...

  • TOKYO, March 30- Toyota Motor Corp on Thursday said it was recalling a total of about 2.9 million vehicles in Japan, China, Europe and other regions including its Corolla Axio sedan and RAV4 SUV crossover due to potentially faulty airbags. The Japanese automaker said that the latest recalls were part of a wider recall of airbags which use inflators made by Takata...

  • SHANGHAI, March 30- As China's banks prepare for a rigorous quarterly inspection of their books by the central bank, the ructions in money markets and an explosion in inter-bank borrowing show how addicted they are to risky methods of funding and investments. For the first time since it was launched last year, the Macro Prudential Assessment, or MPA, will include...

  • SHANGHAI, March 30- China's State Power Investment Corp said Westinghouse's bankruptcy filing would not have a "substantial impact" on the country's nuclear plans and the two sides would ensure a key AP1000 reactor project would be completed on schedule this year. The project is the world's first Westinghouse-designed AP1000 reactor project, being built at...