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Wires

  • ZURICH, May 23- Switzerland's trade surplus narrowed to its lowest level since the Swiss franc's surge rocked the country more than two years ago, as its industrial sector continued to struggle with the strong currency and pharmaceuticals exports slowed. In January 2015 the Swiss National Bank scrapped its long-standing limit on the franc versus the euro,...

  • TEL-AVIV, Israel _ Gazit-Globe Ltd. on Tuesday reported a first-quarter loss of $73.9 million, after reporting a profit in the same period a year earlier. The Tel-Aviv, Israel- based company said it had a loss of 39 cents per share. Gazit-Globe shares have risen 17 percent since the beginning of the year.

  • THE HAGUE, May 23- Royal Dutch Shell shareholders on Tuesday widely rejected a proposal by an environmental activist group demanding the oil major sets and publishes annual targets to reduce carbon emissions. As many as 94 percent of Shell shareholders voted against the resolution, preliminary results displayed during the company's annual general meeting...

  • *Congress holds the federal purse strings and often ignores presidential budgets, which are proposals and may not take effect in its current form. *Wall Street closed higher on Monday boosted by technology shares and by defense companies, which gained after the United States and Saudi Arabia signed a $110 billion arms deal. *The deal was struck during Trump's...

  • NEW YORK _ Take-Two Interactive Software Inc. on Tuesday reported fiscal fourth-quarter profit of $97.9 million. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share. Four analysts surveyed by Zacks expected $359.1 million.

  • LONDON, May 23- Foreign holdings of German government bonds have fallen to their lowest since before the financial crisis in 2008, data suggests, a potential headache for the European Central Bank which buys the bulk of assets for its stimulus scheme from among the debt. But with QE scheduled to run until year-end with any tapering to follow, scarcity of debt from...

  • HANOVER, Germany, May 23- Some Volkswagen managers are struggling to adapt to the German carmaker's drive to improve accountability after its diesel emissions fraud, its chief executive said, suggesting it could take years to establish a new corporate culture. But trying to convince Volkswagen managers of the need to change is still proving tough 20 months...

  • MEMPHIS, Tenn. _ AutoZone Inc. on Tuesday reported fiscal third-quarter net income of $331.7 million. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $12 per share. AutoZone shares have fallen 16 percent since the beginning of the year, while the Standard& Poor's 500 index has risen roughly 7 percent.

  • JERUSALEM, May 23- Israeli billionaire Teddy Sagi has agreed to buy a controlling stake in Brack Capital Properties, a property owner and developer in Germany, for about 1 billion shekels, the company said on Tuesday. BCP, which is listed on the Tel Aviv Stock Exchange, said in a statement that Sagi agreed to buy a controlling 44 percent stake, or about 2.9 million...

  • LONDON, May 23- Zinc prices gained on Tuesday after imports of the metal into top consumer China rose, underlining a tightening supply situation, but copper dipped on indications of healthy supply. Imports of refined zinc to China increased 21 percent in April to 47,469 tonnes year-on-year while shipments of ore and concentrates jumped 44 percent, customs data...

  • COLUMBUS, Ohio _ DSW Inc. on Tuesday reported fiscal first-quarter net income of $23 million. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share. Six analysts surveyed by Zacks expected $686.2 million.

  • MANCHESTER, England, May 23- Police said they arrested a man at a major shopping center in Manchester that was temporarily evacuated on Tuesday, but do not believe the incident was connected with the attack that killed 22 people in the same northern English city. "A man has been arrested at the Arndale Centre this is not currently believed to connected to last...

  • MANCHESTER, England, May 23- Police said they arrested a man at a major shopping centre in Manchester that was temporarily evacuated on Tuesday, but do not believe the incident was connected with the attack that killed 22 people in the same northern English city. "A man has been arrested at the Arndale Centre this is not currently believed to connected to last...

  • *India offers tax concessions on mobile component imports. NEW DELHI, May 23- India has offered to allow Apple Inc to import mobile handset components intended for use in local manufacturing tax free, a top government official said on Tuesday. Among a set of tax concessions, Apple had initially sought a 15- years tax holiday for all components that it would import...

  • *Merged entity fits Beijing push for SOE consolidation. HONG KONG/ BEIJING, May 23- Chinese state-owned Sinochem and ChemChina are in merger talks to create the world's biggest industrial chemicals firm, to be headed by Sinochem chief Ning Gaoning, four people with knowledge of the negotiations said. A deal could be announced by the end of the year, the people said,...

  • The stock was down 5.6 percent at $65.16 in premarket trading on Tuesday. As a result, Take-Two forecast adjusted revenue would be between $1.42 billion and $1.52 billion in the year ending March 31, 2018. Take-Two said it expects net sales to top $2.5 billion in its fiscal year starting April 2018, driven by "Red Dead Redemption 2" and a new title from its studio 2 K,...

  • HARIDWAR, India, May 23- Narendra Modi leaned to whisper in the ear of the man sitting cross-legged and barefoot next to him, the one clad in saffron robes with a long beard and squinty gaze. About two months after the rally, when voting had rolled across the vast country, Modi's Bharatiya Janata Party swept the long-ruling Congress Party from power.

  • WASHINGTON, May 22- President Donald Trump's promise to balance the federal budget in a decade rests on a sustained rise to 3 percent annual economic growth that he promised in his election campaign and a vague "feedback" effect that lowers the annual government deficit by hundreds of billions of dollars. The projections are a leap of faith that many economists...

  • In recent years, the fund has been used to overhaul the SEC's information technology, including upgrades to the filing system for public companies and initiatives to help police fraud and track equities trading patterns. Congress does decide the SEC's $1.6 billion budget, but it is deficit neutral because the fees it collects from Wall Street firms are...

  • 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...