×

Wires

  • SHANGHAI, Feb 28- Hong Kong stocks fell for the fourth session in a row on Tuesday as a months-long rally showed further signs of fatigue, and as investors awaited a speech by U.S. President Donald Trump for details on tax reform and infrastructure spending. Much of the market's attention was on Trump, who said he would talk about plans for "big" infrastructure...

  • WASHINGTON— Economists and investors will be looking for one thing above all from President Donald Trump's speech to the nation Tuesday night:. "The stock market has been pricing in a pretty optimistic scenario about what policy changes under a Trump administration will look like," said David Kelly, chief global strategist at JPMorgan Funds.

  • *Spot gold could hit $1,278/ oz- technicals. Investors are shifting their attention to Trump's policy speech to a joint session of Congress on Tuesday night where he is expected to provide clues on his plans to cut taxes. "While it is expected will announce pro-growth policies there is still large underlying support for the metal and will continue to be until these...

  • DUBAI, United Arab Emirates— The International Monetary Fund says Iran's economy has rebounded after the nuclear deal with world powers, but warns that uncertainty over future sanctions and problems with the country's domestic banks could cause trouble ahead. The IMF released a report early on Tuesday that said Iran's real gross domestic product grew by 7.4...

  • LONDON, Feb 28- British engineering group GKN reported a 12 percent rise in adjusted pretax profit on Tuesday, just beating market expectations, and said it would grow ahead of both its main aerospace and autos markets in 2017.. In automotive, it forecast it would beat independent predictions of around 2 percent growth in global light vehicle production, with...

  • LONDON, Feb 28- British telecoms regulator Ofcom said it planned to force BT to cut its bills by at least 5 pounds a month for those customers that only take a landline, seeking to protect elderly and vulnerable people who rely on the service. "Line rental has been going up, even as providers' costs come down," Ofcom Chief Executive Sharon White said.

  • Islamabad will host representatives from 10 countries of the Economic Cooperation Organization on Wednesday to finalize a plan on expanding trade and prosperity in the region. Two Pakistani officials say the presidents of Iran and Turkey, Hassan Rouhani and Recep Tayyip Erdogan, are expected to attend the summit. Turkey, Iran and Pakistan are the three ECO...

  • *Oil rises on expectations of further OPEC cuts. "With the prospect of OPEC extending the current cuts even longer, we would expect to see prices continue to push higher from here," ANZ said in a note. Under the deal, OPEC agreed to curb output by about 1.2 million barrels per day from Jan. 1, the first cut in eight years.

  • JOHANNESBURG, Feb 28- South Africa's Nedbank booked a $293 million writedown on the value of its west African associate Ecobank on Tuesday, and reported its slowest growth in annual profit since 2009.. Nedbank, a unit of Anglo-South African financial conglomerate Old Mutual, is South Africa's fourth-biggest lender and vies with Standard Bank, FirstRand...

  • But persistent concerns over supply from large mines in Chile and Indonesia limited the decline. Three-month copper on the London Metal Exchange was 0.04- percent lower at $5,908.50 a tonne at 0700 GMT, backtracking from an intraday high of $5,944. The most-traded copper contract on the Shanghai Futures Exchange finished down 0.27 percent at 47,740 yuan a...

  • *Asian buyers take 1.64 mln bpd of Iran oil in Jan- data. Iran's top four Asian buyers- China, India, South Korea and Japan- imported 1.64 million barrels per day last month, up 67.6 percent on a year earlier, government and ship-tracking data showed. Iran was exempted from an OPEC deal to reduce output by 1.2 million bpd starting Jan. 1, a victory for Tehran which has argued...

  • SHANGHAI, Feb 28- China stocks edged up on Tuesday in thin trading as caution prevailed following a months-long run-up to the main index's late-November peak, a key technical resistance. Activity in China's manufacturing sector likely grew modestly for the seventh month in a row in February as resources prices extended a rapid rally, a Reuters poll showed.

  • LONDON, Feb 28- British engineering group GKN reported a 12 percent rise in adjusted pretax profit on Tuesday, just beating market expectations, and said it would grow ahead of both its main aerospace and autos markets in 2017..

  • CHICAGO, Feb 28- The path to another round of El Niño in 2017 appears to be shortening, as tropical Pacific Ocean waters have been warming at a substantial rate. Some notable impacts include droughts in Southeast Asia and heavy rains and erosion along the Pacific coasts of North and South America. In the week centered on Feb. 22, the SST anomaly was positive 2.3...

  • HONG KONG/ BARCELONA, Feb 28- Staff at China's Huawei Technologies Co Ltd are bracing for possible jobs cuts after internal memos highlighted intense pressure to improve earnings and an executive said the flagship smartphone business had missed internal profit targets. Huawei's mobile unit missed an internal profit target for 2016 even though revenues...

  • TOKYO, Feb 28- Asian shares lost their grip on Tuesday but were still on track for a winning month, bolstered by gains on Wall Street as investors awaited a speech by U.S. In Europe, Germany's DAX and Britain's FTSE were expected to open higher. MSCI's broadest index of Asia-Pacific shares outside Japan erased earlier modest gains and edged down slightly by...

  • SEOUL, Feb 28- South Korea's Samsung Group on Tuesday said it has dismantled its corporate strategy office, the nerve centre of operations for the sprawling conglomerate, following its chief's arrest amid a graft scandal that could bring down President Park Geun-hye. Samsung, in a statement, said top group executives including Vice Chairman Choi Gee-sung and...

  • DUBAI/ LONDON, Feb 28- Saudi Arabia wants crude oil prices to rise to around $60 a barrel this year, five sources from OPEC countries and the oil industry said. This is the level the OPEC heavyweight and its Gulf allies- the United Arab Emirates, Kuwait and Qatar- believe would encourage investment in new fields but not lead to a jump in U.S. shale output, the sources said.

  • *Samsung Group chief to be charged with bribery, embezzlement. SEOUL, Feb 28- South Korea's special prosecutor's office said on Tuesday it will charge Samsung Group chief Jay Y. Lee and four other executives with bribery and embezzlement amid a political scandal that has rocked the country. The other executives to be charged are Samsung Group vice chairman Choi...

  • OSLO, Feb 28- The Marshall Islands in the Pacific Ocean became the first nation on Tuesday to ratify a 2016 accord to cut the use of powerful factory-made greenhouse gases, saying the survival of the nation was at risk from climate change. The parliament of the Marshall Islands, with a population of 53,000 vulnerable to rising sea levels caused by melting ice,...