Wires

  • *China proposing new regulation on food imports. The rule, part of a drive by China to boost oversight of its sprawling food supply chain, requires all food imports to carry health certificates from October next year, even if the product is deemed low-risk. "could bring large segments of foreign food imports to a grinding halt," Germany's ambassador to China, Michael...

  • TOKYO, Dec 9- The dollar rose broadly on Friday as U.S. bond yields rose, while the euro sank after the European Central Bank's decision to extend its debt-buying programme even as it cut the size of its purchases disappointed currency bulls. The yen's safe-haven appeal has diminished as Japan's Nikkei hit a one-year peak as Wall Street reached a record high.

  • *China imports grow at fastest pace in more than 2 yrs. MELBOURNE, Dec 9- London copper was set to close the week higher on Friday, after robust China imports in November offered more evidence that the world's No.2 economy is on a recovery track. Shanghai Futures Exchange copper pared earlier losses to 47,100 yuan a tonne.

  • *Macau to cut cash UnionPay cardholders can withdraw- SCMP. HONG KONG/ SHANGHAI, Dec 9- Casino stocks from Australia's Crown Resorts to Las Vegas Sands tumbled after a report that Macau, the world's biggest gambling hub, would limit cash withdrawals as part of a Beijing- led crackdown on illicit outflows. The South China Morning Post, citing a finance industry source,...

  • DES MOINES, Iowa Dec 8- President-elect Donald Trump said on Thursday the United States needed to improve its relationship with China, which he criticized for its economic policies and failure to rein in North Korea. "One of the most important relationships we must improve, and we have to improve, is our relationship with China," Trump told a rally in Iowa.

  • *Government increasing interest-free loan to Tokyo Electric. TOKYO, Dec 9- Japan's Ministry of Economy, Trade and Industry said on Friday it has nearly doubled its projections for costs related to the Fukushima nuclear disaster, including decommissioning and compensation, to 21.5 trillion yen. "For now, we don't expect the costs to increase further, but new...

  • SYDNEY— The Australian government on Friday approved the sale of the nation's largest cattle empire to Australia's richest woman and her Chinese business partner, ending a drawn-out battle over foreign ownership of farmland. The country's largest private landholding, S. Kidman& Co. Ltd., will be acquired by Outback Beef, an Australia- China consortium...

  • SINGAPORE, Dec 9- Chicago soybean futures lost more ground on Friday, with the market set for a second week of losses as an improving outlook for weather in Argentina boosted hopes for another year of bumper supplies. *Dry parts of Argentina may see rains within the next two weeks, meteorologists said, buoying hopes of record production in 2017. Brazil's...

  • TOKYO, Dec 9- Japanese stocks rose to their highest level in a year on Friday morning, supported by Wall Street gains and solid buying of exporters on the back of a weaker yen. The mining sector was the top gainer on the board, rising 2.8 percent after oil prices extended a rally on Friday, buoyed by growing optimism that non- OPEC producers might agree to cut output...

  • WASHINGTON, Dec 8- President-elect Donald Trump named fast-food executive Andy Puzder to head the U.S. Department of Labor on Thursday, drawing criticism from labor advocates worried about his opposition to a higher minimum wage and government regulation of the workplace. He has bashed a new Labor Department rule aimed at extending overtime pay to more than 4...

  • BEIJING, Dec 9- China's producer prices rose the fastest in more than five years in November as prices of coal, steel and other building materials climbed, boosting industrial profits and giving firms more cash flow to pay off mountains of debt. China's consumer inflation rate also quickened to 2.3 percent on-year, the highest since April, due to higher food...

  • COPENHAGEN/ SEOUL, Dec 9- Maersk Line, part of A.P. The world's two largest container shippers, Maersk Line and Mediterranean Shipping Co, have been in talks Hyundai since July about including the Korean shipper in the 2 M alliance. Instead, he said, the parties were discussing the option of partnering with Hyundai through a "slot exchange and purchase agreement."

  • Jersey City, N.J., Dec 8- The Port Authority of New York and New Jersey said for the first time on Thursday its next 10- year capital plan may include $2.7 billion for Amtrak's Gateway rail tunnel project underneath the Hudson River. The plan includes $3 billion for the new terminal, and another $500 million would have to be raised through a federal grant, according to...

  • BEIJING, Dec 9- China's November producer prices rose 3.3 percent from a year ago, the highest since October 2011, thanks to soaring prices for commodities such as coal and steel. The producer price index had been expected to rise 2.2 percent on-year, compared with the previous month's rise of 1.2 percent. The consumer inflation rate rose to 2.3 percent from a year...

  • HONG KONG, Dec 9- Casino stocks from Australia's Crown Resorts to Las Vegas Sands tumbled after a report that Macau, the world's biggest gambling hub, would limit cash withdrawals as part of a Beijing- led crackdown on illicit outflows. The South China Morning Post, citing a finance industry source, reported late on Thursday that Macau would halve the amount of cash...

  • MELBOURNE, Dec 9- London copper was set for a flat weekly close on Friday, after robust China imports in November offered more evidence that China's economy is on a recovery track. *Shanghai Futures Exchange copper fell by 1.5 percent to 46,760 yuan a tonne. *China's imports grew at the fastest pace in more than two years in November, fuelled by its strong thirst for...

  • Dec 8- 3 M Co, the maker of Scotch tape and Post-it notes, said it had entered into agreements to sell its identity management business to Amsterdam- based digital security company Gemalto for $850 million. "We believe that the identity management business will be better positioned with a company that is primarily focused on security solutions," the company's vice...

  • SHANGHAI, Dec 9- China set its official yuan midpoint at 6.8972 per dollar prior to the market open on Friday, 241 pips or 0.35 percent weaker compared with a day earlier, booking the biggest percentage loss since Oct.21. The previous fix was at 6.8731. The weakness in the midpoint followed a rise in the U.S. dollar overnight after the European Central Bank decided to...

  • Dec 8- Washington state filed an environmental lawsuit on Thursday against agricultural company Monsanto Co seeking damages and cleanup costs associated with the company's production of PCBs, the state's attorney general said. The lawsuit- against Monsanto and two of its splinter companies, Solutia Inc and Pharmacia LLC- seeks compensation for damages to...

  • SAN DIEGO— Bristol-Myers Squibb Co. will pay $19.5 million to settle allegations that it promoted the anti-psychotic drug Abilify for unapproved uses and misled doctors about its dangers, it was announced Thursday. New York- based Bristol-Myers Squibb denies any wrongdoing but agreed to various marketing restraints. Abilify is manufactured by another...