Wires

  • *Algeria minister says won't come out of meeting "empty-handed". LONDON, Sept 26- Oil held steady on Monday, as the world's largest producers gathered in Algeria to discuss ways to support the market, although skepticism about any deal being reached has prompted money managers to cut their bullish bets to a one-month low. Members of the Organization of the...

  • *Warsaw stocks hit 12- day low ahead of government reshuffle. *Slovenia's 10- year bond yield at record low on Fitch upgrade. BUDAPEST, Sept 26- Poland led a fall in Central European stocks on Monday, extending losses posted since Polish Prime Minister Beata Szydlo said on Friday that she would reshuffle her government.

  • BERLIN— A closely watched survey shows that business confidence in Germany, Europe's biggest economy, has increased sharply to its highest reading since May 2014 amid signs that concerns related to Britain's vote to leave the European Union have dissipated. Over recent months, there have been a number of indicators pointing to an economic slowdown in Germany,...

  • BEIJING, Sept 26- China has launched a 350 billion yuan restructuring fund as the government pushes' supply-side' reforms that have included mergers of inefficient state enterprises and laying off workers in struggling sectors such as coal and steel. The China State-owned Enterprises Restructuring Fund will be managed by the State-owned Assets...

  • TOKYO, Sept 26- The plan to sell beleaguered Takata Corp to a rescuer, slated by year-end, is likely to extend into next year as some bidders want to drag the air bag maker through bankruptcy to wipe out most of its debt, people with knowledge of the matter said. Takata faces about 1 trillion yen in costs to recall potentially faulty air bag inflators worldwide,...

  • TOKYO, Sept 26- The plan to sell beleaguered Takata Corp to a rescuer, slated by year-end, is likely to extend into next year as some bidders want to drag the air bag maker through bankruptcy to wipe out most of its debt, people with knowledge of the matter said. Takata faces about 1 trillion yen in costs to recall potentially faulty air bag inflators worldwide,...

  • SEOUL, Sept 26- South Korean prosecutors asked a court on Monday to approve an arrest warrant for the chairman of the Lotte Group conglomerate on suspicion of embezzlement and breach of trust, a prosecution source with direct knowledge of the matter said. The arrest warrant request comes after Lotte Chairman Shin Dong- bin, 61, was questioned by prosecutors in an...

  • TOKYO— Japanese Prime Minister Shinzo Abe has pledged to accelerate his mix of policies to prop up Japan's economic recovery and speed up parliamentary approval of the Trans-Pacific Partnership trade pact. In his policy statement Monday opening the 66- day parliamentary session, Abe outlined an extra set of stimulus measures to help the economic recovery...

  • Sept 26- Hong Kong stocks suffered their biggest single-day drop in two weeks on Monday as the market's recent rally showed signs of fatigue. The HSI has rallied around 12 percent so far in the third quarter, buoyed in large part by investments from mainland Chinese who are attracted by lower valuations in Hong Kong and are looking for ways to hedge the risk of...

  • BERLIN, Sept 26- German business morale rose more than expected in September, a survey showed on Monday, suggesting company executives in Europe's largest economy have become more optimistic after their morale plunged last month over concerns about Brexit. The Munich- based Ifo economic institute said its business climate index, based on a monthly survey of...

  • The move is aimed at helping to boost Iran's sanctions-damaged economy. The credit limits and fee percentages will be fixed by Iran's Central Bank, although individual banks will be responsible for determining if a customer qualifies to receive a card. The move comes following last summer's landmark nuclear deal that brought the lifting of international...

  • LONDON, Sept 26- Governments worldwide should pass new laws to facilitate the sharing of information between themselves and the private sector in order to better combat financial crime, HSBC's top lawyer told a banking conference in Geneva on Monday. Levey, who was under secretary for terrorism and financial intelligence at the U.S. treasury department from...

  • *Says on track for 1,000 UK stores by 2022. The firm said on Monday its goal to have 1,000 UK stores by 2022 was on track and future capital spending plans were unaffected by Britain's vote to leave the European Union. Aldi and its German discount rival Lidl have transformed the competitive landscape in UK food retailing over the last five years and remain...

  • *Clinton vs Trump TV debate due later. LONDON, Sept 26- European stocks fell on Monday, weighed down by a pullback in the shares of major banking and energy companies. "Banks are still in bad shape," said Rupert Baker, a European equity sales executive at Mirabaud Securities.

  • LONDON, Sept 26- Safe-haven German bond yields fell to their lowest level in more than two weeks on Monday as focus turned from central banks to the looming televised debate between the U.S. presidential candidates. Polls indicate a tightening race between Democrat Hillary Clinton and Republican Donald Trump in a vote shaping up as a major risk event for...

  • LONDON, Sept 26- The yen was holding strong on Monday in the face of another volley of promises from the Bank of Japan to do everything necessary to get inflation back on the rise, including cutting interest rates further into negative territory. "The temptation is to say that the dollar should continue to weaken this week," said Sam Lynton-Brown, a currency...

  • WASHINGTON— THE ISSUE: Tepid income growth and shrinking opportunities for blue-collar workers have kept many Americans anxious about jobs and the economy, seven years after the Great Recession ended. He promises to bring those jobs back by renegotiating the NAFTA agreement with Canada and Mexico, withdrawing from a proposed Pacific trade pact with 11 other...

  • *Turkey eurobonds fall by as much as 3.9 cents. ISTANBUL, Sept 26- Turkish shares tumbled 4 percent while bonds and the lira also weakened sharply on Monday after ratings agency Moody's cut Turkey's sovereign rating to "junk," triggering fears of an outflow of foreign funds. Turkey depends on investment flows to fund its current account deficit- one of the biggest in...

  • OSAKA, Sept 26- Bank of Japan Governor Haruhiko Kuroda, in his first speech since the BOJ's decision last week to overhaul its radical stimulus program, said the central bank stood ready to use every available tool to achieve its 2 percent inflation target. While the BOJ would be mindful of the impact ultra-easy policy could have on banks' profits, that would not...

  • LONDON, Sept 26- Sterling was weaker on Monday, trading near a five-week low, as lingering worries over Britain's exit from the European Union drove investors to sell the currency that has steadily lost ground in the past three straight weeks. Sterling was knocked down late on Thursday after British Foreign Secretary Boris Johnson said he expected formal...