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Wires

  • WASHINGTON— President Donald Trump's first budget proposal, snubbed by some Republican allies, is just the latest example of an administration that seems at times clueless or indifferent toward Congress. Two weeks ago, Trump fired FBI Director James Comey with little to no heads-up to GOP leaders, some of whom were left struggling to explain, much less defend,...

  • MOSCOW, May 24- Sberbank, Russia's largest bank, made 166.6 billion roubles of net profit in the first quarter, the bank said on Wednesday, posting the best quarterly result that was slightly better than analysts had forecast. Sberbank has outperformed rivals during Russia's economic crisis, posting solid profits in the past year. Analysts polled by Reuters had...

  • DALLAS— Without the shocking video, it's unlikely that the world would have learned or cared about the violent manhandling of a 69- year-old man on a plane last month. American, Delta and Southwest have similar policies. This month, a United ticket agent ordered a passenger's reservation canceled as he filmed her while disputing a $300 baggage fee in the New...

  • CHICAGO— United Airlines CEO Oscar Munoz is likely to face questions from shareholders Wednesday about the rough removal of a passenger from a flight, an incident that sparked weeks of bad publicity. United Continental Holdings Inc. spokeswoman Megan McCarthy said the meeting is expected to last about an hour, with much of the time reserved for questions to...

  • *OPEC, other producers to meet May 25 to decide output policy. SINGAPORE, May 24- Oil prices rose on Wednesday, supported by confidence that an OPEC- led output cut aimed at tightening supply would be extended to all of 2017 and the first quarter of next year. "OPEC is meeting on 25 May with an extension of supply cuts at the top of its agenda.

  • WASHINGTON— Top officials in President Donald Trump's Cabinet are heading to Capitol Hill to defend his plans to cut domestic programs and parry Democratic criticism of his tax proposals. Budget Director Mick Mulvaney appears Wednesday before the House Budget panel while Treasury Secretary Steven Mnuchin will testify at the tax-writing House Ways and...

  • LONDON, May 24- Britain's Marks& Spencer reported a 10 percent decline in annual profit and said clothing and homeware sales fell in its latest quarter, dampening the euphoria of the previous three months when it recorded a first increase in nearly two years. Steve Rowe, a 27- year company veteran, became CEO a year ago, taking on the tough task of reviving a British...

  • MELBOURNE, May 24- Australia's biggest power distributors on Wednesday won a court fight that could earn them close to A $3 billion more in revenue over five years, boosting the prospects of recently privatized Ausgrid and Endeavour Energy. In a decision that will stoke concern over soaring power and gas bills, the Federal Court ruled against a push by the...

  • MELBOURNE, May 24- Australia's biggest power distributors on Wednesday won a court fight that could earn them close to A $3 billion more in revenue over five years, boosting the prospects of recently privatised Ausgrid and Endeavour Energy. In a decision that will stoke concern over soaring power and gas bills, the Federal Court ruled against a push by the...

  • Proton's owner DRB-Hicom said Wednesday that the deal involves Proton selling off its entire stake in British car manufacturer Lotus to Geely. DRB-Hicom did not disclose financial details of the deal. Johari said Proton will remain Malaysia's national car, with DRB-Hicom keeping a 50.1 percent controlling stake in the company.

  • LONDON, May 24- British property group ZPG plc, which owns property websites Zoopla and PrimeLocation, posted a 22 percent rise in half-year revenue as traffic to its sites hit a record high and the number of agents signed up to its platforms rose. Revenue hit 117.9 million pounds in the six months to the end of March. Full-year pre-tax profit is expected to rise 9...

  • *OPEC, other producers to meet May 25 to decide output policy. SINGAPORE, May 24- Oil prices rose on Wednesday, supported by confidence that an OPEC- led output cut aimed at tightening supply would be extended to all of 2017 and the first quarter of next year. "OPEC is meeting on 25 May with an extension of supply cuts at the top of its agenda.

  • LONDON, May 24- Britain's Marks& Spencer reported a 10 percent decline in annual profit and said clothing and homeware sales fell in its latest quarter, dampening the euphoria of the previous three months when it recorded a first increase in nearly two years. The firm also said on Wednesday that the trading environment remained tough. M&S, one of the best known...

  • *Settlement talks to continue on Wednesday- sources. LONDON, May 24- Royal Bank of Scotland is struggling to reach a deal with all the investors who allege the lender misled them during a 12 billion pound cash call in 2008, two sources familiar with the situation said. Jonathan Nash, a lawyer for the claimant group, told London's High Court on Tuesday the majority of...

  • TOKYO, May 24- Japan's Nikkei share average rose on Wednesday to a one-week closing high helped by exporters after the dollar gained against the yen, while financials outperformed thanks to a rise in U.S. The Nikkei ended 0.7 percent higher at 19,742.98, the highest closing level since May 17. The broader Topix index added 0.6 percent to 1,575.11, while the...

  • TOKYO, May 24- Japanese government bond prices eased on Wednesday after the Bank of Japan's bond buying operation attracted stronger-than-expected selling interest. The BOJ's purchase of 280 billion yen JGBs with one to three years of maturity drew selling of 1.2807 trillion yen, the highest for those tenors since late April. Its buying of 300 billion yen in...

  • Until recently, the region's tech start-up scene was stagnant, failing to rank among Europe's top dozen countries for investment and lagging western and northern European countries, as well as decades-old tech hub Israel. By last year, investment in central Europe, while still modest, had jumped more than tenfold since 2012, buoyed by a growing number of deals.

  • *Moody's says expects China growth to slow to close to 5 pct. *China: Moody's over-estimates risks, methodology inappropriate. "The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows," the rating agency said in a statement,...

  • KUALA LUMPUR, May 24- Malaysian conglomerate DRB-HICOM will sell a 49.9 percent stake in struggling car maker Proton to Chinese automaker Zhejiang Geely Holding Group, according to a company statement seen by Reuters. Malaysia's Second Finance Minister Johari Abdul Ghani is expected to make an official announcement on the deal shortly.

  • *A spun off, listed Pay-tv unit could fetch up to 120 billion rand- analysts. JOHANNESBURG, May 24- It was the investment that transformed Naspers from a small-time South African newspaper publisher into Africa's most valuable company and made its long-serving director and chairman Koos Bekker a billionaire. Naspers has plowed in around $3.6 billion since 2012...