Wires

  • SHANGHAI, Jan 19- Short-term funding costs in China shot to their highest in nearly 10 years on Thursday on fears that liquidity was sharply tightening heading into the long Lunar New Year holidays. President-elect Donald Trump's inauguration in two days and that may create volatility again, "said a trader at a Chinese bank in Shanghai. Households and companies...

  • SHANGHAI, Jan 19- Thomas Tull, the founder and chief executive of Legendary Entertainment has stepped down, the firm said in a statement to Reuters on Thursday, a year after the Hollywood studio was bought by Chinese conglomerate Dalian Wanda for $3.5 billion. Wanda bought Legendary in January last year, helping turn chairman Wang Jianlin into a Hollywood movie...

  • *U.S. consumer data, looming China Q4 GDP supportive. SYDNEY, Jan 19- London copper reversed early losses to follow Shanghai futures higher on Thursday as expectations of steady growth in China helped the red metal along with positive U.S. economic signals. China is the top consumer of copper and other commodities, and markets keep a close watch on its economic...

  • NEW YORK— Donald Trump has vowed his company will do "no new foreign deals" while he is president. Richard Painter, who served as chief ethics lawyer for President George W. Bush, said there are so many pending issues before local governments at each stage of a real estate project, it's like a new deal every time. The Scottish expansion is especially worrisome, Painter...

  • SHANGHAI, Jan 19- Hong Kong stocks fell on Thursday morning, as sentiment was hurt by Federal Reserve Chair Janet Yellen's hints that the pace of U.S. interest rate hikes could accelerate. Sentiment in Hong Kong, where the market was more exposed to global volatility than in China, was dampened after Yellen's tone lifted U.S. treasury yields and the dollar, making...

  • MEXICO CITY— Donald Trump's assumption of the U.S. presidency couldn't come at a worse time for Mexico. Even before his swearing-in, Trump has already hurt the country's economy by pressuring automakers to shift factories out of Mexico, threatening its most important manufacturing sector and status as a rising star in auto production. He has also threatened to...

  • SYDNEY, Jan 19- Australia sold a record A $9.3 billion of debt this week thanks to strong demand, with investors unfazed by risks the nation might lose its triple-A rating due to protracted budget deficits. "We thought A $7 billion to A $8 billion would be a reasonable size, so it was a good outcome," Robert Nicholl, chief executive of the Australian Office of Financial...

  • *Soybeans snap 4 days of gains, market eyes Argentina weather. SINGAPORE, Jan 19- Chicago soybeans eased from a six-month high on Thursday with the market snapping four sessions of gains on a stronger dollar although losses were limited by concerns that floods could crimp output in Argentina, the world's third-biggest producer. The most-active soybean...

  • *Bega to buy Mondelez grocery brands in Australia and New Zealand. SYDNEY, Jan 19- After more than 90 years, the popular Australian Vegemite brand is coming home. Bega Cheese will be the new owner of the spread following its deal to buy most of Mondelez International's grocery brands in Australia and New Zealand for A $460 million.

  • SEOUL, Jan 19- South Korea's Lotte Chemical Corp said on Thursday it had submitted a letter of intent earlier this month to acquire Singapore petrochemical company Jurong Aromatics Corp. Lotte Chemical said in a filing to the stock exchange in South Korea that it had been short-listed on Jan. 10 to acquire the Singapore firm, adding that details had not been...

  • Jan 19- Gold prices edged down on Thursday on a strong dollar after Federal Reserve Chair Janet Yellen advocated lifting U.S. interest rates gradually. Spot gold was down 0.1 percent to $1,202 per ounce by 0335 GMT, after dropping to as much as $1,197.31. "There is no change in Fed's stance about rate hikes, which is in line with market expectations," said Mark To, head of...

  • SEOUL, Jan 19- South Korea's Lotte Chemical Corp said on Thursday it had submitted a letter of intent earlier this month to acquire Singapore petrochemical company Jurong Aromatics Corp.

  • SEOUL, Jan 19- A South Korean court on Thursday denied a special prosecutor clearance to arrest the head of Samsung Group, the country's largest conglomerate, amid a graft scandal that has led to the impeachment of President Park Geun-hye. The pre-dawn decision by the Seoul Central District Court to allow him to go home was welcomed by Samsung Group.

  • SHANGHAI, Jan 19- Short-term funding costs in China shot to their highest level in nearly 10 years on Thursday on fears that liquidity was sharply tightening heading into the long Lunar New Year holidays at the end of the month. Households and companies usually withdraw large amounts of cash from banks in preparations for the week-long New Year holiday, which...

  • *Rising U.S. shale production to counter OPEC, non- OPEC cuts. West Texas Intermediate crude oil was trading up 46 cents at $51.54 per barrel, having dropped to a one-week low on Wednesday at $50.91 a barrel. "We are just watching for the next catalyst which could come from OPEC, non- OPEC, U.S. shale producers, rig count and, of course, inventories...

  • SAO PAULO, Jan 19- Leading shareholders of Vale SA are close to endorsing a plan to turn the world's No. 1 iron ore producer into a company with dispersed share ownership within six years, two people familiar with the talks said. Bradespar SA, Mitsui& Co and several Brazilian pension funds are negotiating a new shareholder accord that would give Vale dispersed share...

  • TOKYO, Jan 19- The dollar kept broad gains against its major rivals on Thursday, after rebounding sharply overnight on comments by Federal Reserve Chair Janet Yellen suggesting U.S interest rates could be raised quickly this year. President-elect Donald Trump's inauguration on Friday. The greenback was little changed at 114.670 yen.

  • SYDNEY, Jan 19- U.S. soybean futures were headed for their first fall in five sessions on Thursday as a stronger dollar weighed on the market, though concerns that production in Argentina may be curtailed by unfavorable weather capped losses. *The most active soybean futures on the Chicago Board Of Trade March soybeans was down 0.3 percent at $10.72 a bushel as of...

  • TOKYO, Jan 19- Japan has agreed to allow the Abu Dhabi National Oil Co to store crude oil in the country for two more years, giving the nation's second-largest supplier continued access to a depot through 2019, the trade ministry said on Thursday. The agreement came during a meeting last weekend between Japan Trade Minister Hiroshige Seko and ADNOC chief...

  • The Ministry of Commerce said it believes China and the United States can properly resolve any trade problems through dialogue and cooperation, as both sides would be hurt in any U.S.- China trade spat.