Wires

  • SHANGHAI, Aug 29- China stocks closed steady on Monday, with gains in industrial shares offsetting falls in the banking sector as a slew of interim corporate results showed tentative signs of bottoming-out in struggling sectors such as coal and steel. As of last Friday, over 2,000 China- listed companies had released interim results, while the remainder will...

  • NAIROBI, Aug 29- Shares in KCB Group,, Kenya's biggest bank by assets, and Equity Bank, the biggest in terms of number of customers, fell sharply on Monday for a third consecutive session as investors reacted further to a government move to cap commercial lending rates. By 0647 GMT, shares in KCB and Equity were both down 9.3 percent on the Nairobi Securities Exchange...

  • SINGAPORE, Aug 29- Oil prices fell over 1 percent on Monday after the U.S. dollar jumped, with markets pressured as Iraq's production rose and as Iran said it would only cooperate in talks to freeze output if fellow exporters recognized its right to fully regain market share. Brent crude futures were trading at $49.22 per barrel at 0644 GMT, down 70 cents, or 1.4...

  • TOKYO— Most Asian stocks slipped Monday on remarks from the U.S. Fed Chair Janet Yellen made comments on Friday that were bullish on the economy but gave no timetable for future rate increases. THE QUOTE: "The dollar jumped after Federal Reserve's chairperson, Janet Yellen, signaled impending rate hike in a speech at Jackson Hole last Friday," says Margaret Yang Yan,...

  • TOKYO, Aug 29- Japanese stocks surged to 1-1/ 2- week highs on Monday as the yen weakened after U.S. Federal Reserve Chair Janet Yellen signaled an interest rate hike remains on the cards this year, lifting insurers and exporters. The Nikkei share average soared 2.3 percent to 16,737.49, the highest closing level since August 17.

  • *China learning from experience of Japan, EU. BEIJING, Aug 29- On the face of it, China's central bank has room to cut interest rates to try to lift the economy, but sources say evidence companies and banks are hoarding cash has reinforced policymakers' view there is no major benefit in easing policy further. So unless China's economic growth is at serious risk of...

  • SINGAPORE, Aug 29- Oil prices fell about 1 percent on Monday as Iraq's production rose and as Iran said it would only cooperate in producer talks to freeze output if fellow exporters recognized its right to fully regain market share. Traders said the price falls were a result of climbing output from the Middle East, where oil exports from Iraq's southern ports...

  • SHANGHAI, Aug 29- China could allow industrial firms to convert their debts into equity stakes as early as next month, with the government now putting the finishing touches to a new plan, the official China Securities Journal reported on Monday. The newspaper said China's cabinet, the State Council, was currently finalizing plans to allow "firms in the real...

  • BOSTON— Part of the roof of a Boston duck boat was torn off after a driver failed to clear a bridge while out on a tour in the city. Fire officials say the Boston Duck Tours boat crashed into an overpass Sunday evening. Approximately 20 people were aboard the vehicle at the time.

  • *Brussels institutions back in action, facing familiar problems. Last week, the EU's remaining Big Three-- German Chancellor Angela Merkel, French President Francois Hollande and their host, Italian Prime Minister Matteo Renzi-- felt they needed to renew their vows at the wellspring of the union, the island of Ventotene, where in 1941 prisoners of Mussolini wrote a...

  • BEIJING, Aug 29- China is hoping to cement its standing as a global power when it hosts leaders from the world's biggest economies this weekend, but suspects the West and its allies will try to deny Beijing what it sees as its rightful place on the international stage. "From where China sits, it looks like the Americans are trying to encircle them," said a senior Western...

  • LAUNCESTON, Australia, Aug 29- There is little doubt that China's surging exports of refined fuels have cut profit margins for Asia's refiners, but the pain is unlikely to be shared equally across all the region's exporters of oil products. However, detailed data is provided by China on the export destinations of its product exports, and Australia, the region's...

  • JACKSON HOLE, Wyo., Aug 27- Federal Reserve policymakers are signaling they could raise U.S. interest rates soon but they are already weighing new tools they may need to fight the next recession. A solid U.S. labor market "has strengthened" the case for the first rate increase since last December, Fed Chair Janet Yellen told a central banking conference in Jackson...

  • Dotcom's lawyers have asked if they can film his extradition appeal, which began Monday at New Zealand's High Court in Auckland. Justice Murray Gilbert, the New Zealand judge hearing the appeal, criticized Dotcom's request for coming at the last-minute but said he'd let other media discuss it before making a decision, the National Business Review newspaper...

  • SHANGHAI, Aug 29- China stocks were firm on Monday morning as a slew of mid-year company earnings reports showed tentative signs of bottoming-out in struggling sectors such as coal and steel, with further recovery expected in the second half. But Hong Kong stocks, which are more vulnerable to global money flows, dropped after U.S. As of last Friday, over 2,000 China-...

  • TOKYO, Aug 29- Japanese government bond prices slipped across the board on Monday, with lacklustre results for the Bank of Japan's regular debt-buying operation and a retreat by Treasuries weighing on the market. Yields rose after the BOJ's offer to buy 320 billion yen of 10- year to 25- year JGBs indicated relatively strong investor selling pressure.

  • TOKYO, Aug 29- Japanese government bond prices slipped across the board on Monday, with lackluster results for the Bank of Japan's regular debt-buying operation and a retreat by Treasuries weighing on the market. Yields rose after the BOJ's offer to buy 320 billion yen of 10- year to 25- year JGBs indicated relatively strong investor selling pressure.

  • DAYTON, Ohio— A group that preserves historically significant aviation sites is trying to buy the Wright brothers' former factory buildings in Ohio. The Dayton Daily News reports the National Aviation Heritage Alliance is in negotiations with the private entity that owns the property in Dayton and the surrounding land. It also wants to sell two buildings to...

  • PORTLAND, Maine— An arm of the European Union is expected to weigh in on a request from Sweden to deem American lobsters an invasive species in much of Europe. Sweden says the European Union should ban imports of live American lobsters into EU nations because 32 of the crustaceans were found in Sweden's waters earlier this year. A spokeswoman for the European...

  • *In about turn, Egypt bans ergot fungus in wheat again. Egypt, the world's biggest wheat importer, reinstated on Sunday a controversial ban on wheat shipments containing even the slightest amount of a common grain fungus ergot, baffling traders who had returned to the Egyptian market just last month when the ban was lifted. "The market is bemused as to where Egypt...