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Wires

  • BEIJING, May 23- Heavy rains this week have brought relief to parched fields in China's major grain producing regions, breaking a months-long dry spell that had slowed corn planting and hit winter wheat crops. In the region's Liaoning province, the planted area for all crops was down by nearly 1,000 hectares from the same period last year, state media Xinhua news...

  • *Asia stocks steady after strong Monday gains, Wall Street rise. SINGAPORE, May 23- Sterling slipped on Tuesday after a suspected suicide attack killed at least 19 people and wounded 59 at a pop concert in the English city of Manchester, while the euro held gains made after German Chancellor Angela Merkel said it was "too weak". Financial spreadbetter CMC Markets...

  • WASHINGTON— The Latest on President Donald Trump's budget for the fiscal year beginning Oct. 1:. President Donald Trump is proposing a $4.1 trillion federal budget that targets food stamps and Medicaid. The politically perilous cuts to Medicaid, college loans, food stamps and federal employee pension benefits guarantee Trump's budget won't go far in Congress.

  • SEOUL, May 23- South Korea's former leader Park Geun-hye abused her power and pressured companies to pay her tens of millions of dollars in bribes, a prosecutor told a Seoul court at the start of her corruption trial on Tuesday. If found guilty of taking bribes from business leaders including Samsung Group scion Jay Y. Lee, one of the key accusations that led to her...

  • WASHINGTON, May 23- The White House on Tuesday will ask Republicans who control the U.S. Congress- and federal purse strings- to slash spending on healthcare and food assistance programs for the poor as they push ahead on plans to cut taxes and trim the deficit. More than $800 billion would be cut from the Medicaid program for the poor and more than $192 billion from...

  • *Plan would undermine OPEC- led effort to tighten markets. President Donald Trump proposed the sale of half the country's strategic oil reserves, even as producer club OPEC and its allies cut output to tighten the market. The White House budget plan would gradually sell off half of the nation's emergency oil stockpile to raise $16.5 billion from October 2018,...

  • SHANGHAI, May 23- China's yuan weakened against the U.S. dollar on Tuesday, dragged down by strong corporate dollar purchases. Prior to the market opening, the People's Bank of China set the midpoint rate at 6.8661 yuan per dollar, firmer than the previous fix of 6.8673. A trader at a Chinese bank in Shanghai speculated that authorities may want to use a firmer...

  • May 23- The "fiduciary rule" aimed at preventing brokers from recommending inappropriate retirement investments, will take effect on June 9 with no further delays, U.S. Labor Secretary Alexander Acosta said on Monday in an opinion piece in the Wall Street Journal. Acosta added the rule will go into partial effect on June 9 and full implementation will go into...

  • *Hong Kong at fresh 22- month high. SHANGHAI, May 23- China's main stock indexes were mixed on Tuesday morning, with gains in financials only partially soothing lingering concerns over policy tightening steps. An advisor with the People's Bank of China said the central bank will continue to implement reasonable adjustments to monetary policy.

  • MELBOURNE, Australia— A tearful Rebel Wilson testified on Tuesday that a series of magazine articles published in Australia were a deliberate attack on her character and damaged her acting career. The articles said Wilson had lied about her name, age and upbringing in Australia. Wilson wiped away tears as she testified in the Supreme Court of Victoria,...

  • *Spot gold may gain further to $1,272 per ounce- technicals. May 23- Gold was steady on Tuesday with investors staying on the sidelines following an explosion in the English city of Manchester that left at least 19 people dead and over 50 injured. "Right now, precious metals prices are relatively quiet, this despite tragic news coming out of Manchester, England," said...

  • BEIJING, May 23- Heavy rains this week have brought relief to parched fields in China's major grain producing regions, breaking a months-long dry spell that had slowed corn planting and hit winter wheat crops. In the region's Liaoning province, the planted area for all crops was down by nearly 1,000 hectares from the same period last year, state media Xinhua news...

  • Joe to My Little Pony, toy maker Hasbro says it's holding the first-ever convention to bring all of its brands together. The Pawtucket, Rhode Island- based company says its HASCON family and fan event will be held in Providence in September. Among those scheduled to participate are 94- year-old Spider-Man co-creator Stan Lee, YouTube stars Dude Perfect, actors...

  • NEW YORK, May 23- London- based startup TransferWise has launched a new service in the UK and Europe that will make it easier for small businesses to keep money and get paid in more than 15 currencies, as the company branches beyond its core money transfer business. Similar to having a bank account in multiple countries, the new service will allow small businesses to...

  • *Asia stocks steady after strong Monday gains, Wall Street rise. SINGAPORE, May 23- Sterling extended losses on Tuesday after a suspected terrorist attack killed at least 19 people and wounded 50 at a pop concert in the English city of Manchester, while the euro held gains made after German Chancellor Angela Merkel said the currency was "too weak."

  • *Wheat faces pressure on USDA's winter crop ratings. SINGAPORE, May 23- Chicago corn futures ticked lower on Tuesday as the market took a breather after climbing to a three-week high in the last session on concerns over wet weather delaying U.S. planting. "The USDA's survey of winter wheat crop conditions recorded no deterioration despite poor weather in these...

  • SEOUL, May 23- South Korea's former leader Park Geun-hye abused her power and pressured companies to pay her tens of millions of dollars in bribes, a prosecutor told a Seoul court at the start of her corruption trial on Tuesday. If found guilty of taking bribes from business leaders including Samsung Group scion Jay Y. Lee, one of the key accusations that led to her...

  • *Airline sector worst performer after Manchester blast sours mood. TOKYO, May 23- Japanese stocks were flat on Tuesday morning as a risk-averse mood kept investors sidelined following an explosion in the English city of Manchester, which lifted the safe-haven yen and depressed some export-oriented shares. Airline shares was the worst performer on the board,...

  • BEIJING, May 23- China's imports of liquified natural gas rose 15.6 percent from a year earlier to 2.17 million tonnes, posting the first year on year gain in four months, customs figures showed.

  • BEIJING, May 23- China's April diesel exports fell 1.1 percent from a year earlier to 1.23 million tonnes, while gasoline exports rose 28.7 percent to 910,000 tonnes, data from the General Administration of Customs showed. China's gasoline and diesel output fell in April to its lowest since September, official data showed last week. China's imports of liquefied...