Wires

  • SYDNEY, Sept 1- Australia has successfully used historically low borrowing costs to spark a boom in home building that has helped shepherd the economy through the dog days of a global mining downturn. Rents were the single biggest factor behind the marked inflation slowdown this year that prompted a reluctant Reserve Bank of Australia to further cut rates to a...

  • The move comes after reports in South Korea that some consumers claimed batteries in the jumbo smartphone exploded during charging. Yonhap News said five to six explosions were reported. Samsung launched the Galaxy Note 7 on Aug. 19 in some markets including South Korea and the U.S.

  • SEOUL, Sept 1- Samsung Electronics Co Ltd's mobile recovery was under pressure on Thursday after it delayed shipments of its premium Galaxy Note 7 smartphone amid reports of exploding batteries, wiping almost $7 billion off its market value. Investors drove the stock to two-week lows after the global smartphone leader told Reuters late on Wednesday the...

  • China's lenders, led by the mid-tier banks, have been increasing their use of shadow lending products for years, as they can offer higher returns and tie up less of a bank's capital than traditional lending. A Reuters analysis of bank filings shows Shanghai Pudong Development Bank, a leading joint-stock lender, increased its receivables for trust schemes and...

  • HONG KONG, Sept 1- Macau, the world's biggest casino hub, posted a 1.1 percent rise in gambling revenue in August, the first positive monthly year-over-year growth in more than two years, after the opening of Wynn Macau's $4 billion resort in the southern Chinese territory. Macau, the only place in China where casino gambling is legal, is set for another multibillion...

  • LAUNCESTON, Australia, Sept 1- China's imports of iron ore and coal remained robust in August, providing a fundamental justification for the ongoing resilience in the price of the two major bulk commodities. Imports of iron ore by China, buyer of about two-thirds of global seaborne supplies of the steel-making ingredient, were estimated at 89.26 million tonnes...

  • "The weaker dollar is providing support for oil prices today," said Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance. Brent crude futures had climbed 27 cents to $47.16 a barrel as of 0522 GMT after settling $1.33 lower, or 2.8 percent, at the previous close. That came after U.S. crude inventories rose 2.3 million barrels to 525.9 million...

  • Sept 1- The United Auto Workers urged Volkswagen to accept the National Labor Relations Board's latest order that requires the carmaker to collectively bargain with UAW local union as the representative of a portion of workers at its Tennessee plant. The NLRB on Aug. 26 ordered Volkswagen Group of America Inc among other things to recognize and bargain with...

  • SINGAPORE/ HONG KONG, Sept 1- Trading in Asia's over-the-counter swaps market has ground to a near halt as dealers are sitting on the sidelines amid confusion over new derivatives trading rules for U.S. and Japanese banks, which are major players in the region. "There is a lot of confusion," said one interest rates trader in Singapore. The markets for Asian currency...

  • BEIJING— Leaders of the United States, China and other Group of 20 major economies who meet this weekend say more trade would shore up sluggish global growth but are tightening their own controls on imports. China hopes its status as G20 host will give it more sway in managing the global economy and has made trade a theme of the meeting in Hangzhou, a scenic lakeside...

  • BEIJING, Sept 1- Activity in China's manufacturing sector unexpectedly expanded at its fastest pace in nearly two years in August as construction boomed, suggesting the economy is steadying in response to stronger government spending. The best factory reading since late 2014 may reinforce growing views that China's central bank will be in no hurry to cut...

  • The direction of oil prices is governed by supply and the strength of the dollar, "said Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance. U.S. crude futures had climbed 12 cents to $44.82 a barrel by 0025 GMT, after falling $1.65, or 3.6 percent, in the previous session. That came after U.S. crude inventories rose 2.3 million barrels to 525.9...

  • HONG KONG, Sept 1- Macau, the world's biggest casino hub, posted a 1.1 percent rise in gambling revenue in August, the first positive monthly year-over-year growth in more than two years, after the opening of Wynn Macau's $4 billion resort in the southern Chinese territory. August marks the first upward tick for the former Portuguese colony since May 2014, after...

  • *Rest of Asia, S. Korea PMI slumps, others show mixed performance. SINGAPORE, Sept 1- Asia's factories showed few signs of returning to health in August, as torpid activity in the region's biggest economies, China and Japan, suggested world demand remained fitful at best even as global policymakers scrambled to restore momentum. Coming a week after the United States...

  • NEW YORK, Sept 1- Ferrellgas Partners LP has quietly shed a five-year contract at a Philadelphia- area crude rail terminal just a year after it obtained it through a deal that gave the propane company its first foothold in the oil logistics business. The quiet sale raises questions about how transparent Ferrellgas has been with investors about developments...

  • SAN FRANCISCO, Sept 1- Toyota's zero-emission vehicle sales in California this year amount to a drop of hydrogen in an ocean of gasoline. The state has estimated its regulations would result in zero-emission vehicles, or ZEVs, making up about 15 percent of all California auto sales by 2025, but the current share has been stuck at 3 percent since 2014..

  • NEW YORK, Sept 1- Over the past two years, a growing number of U.S. banks has capped their directors' earnings, but the ceilings are so high that they primarily serve to fend off potential shareholder litigation rather than control the pace of pay increases. "The time spent in these type of positions has grown, as has the risk and potential liability," said Rose Marie...

  • *SSEC -0.2 pct, CSI300 -0.3 pct, HSI +0.5 pct. SHANGHAI, Sept 1- China stocks fell on Thursday as investors sold real estate stocks following official August purchasing managers' index data showing activity slowing in the construction sector. This was entirely due to a fall in the construction sector sub-index, "wrote Julian Evans-Pritchard, China economist at...

  • MANILA, Philippines— Asian markets were mixed Thursday as China and Japan, the region's two biggest economies, reported contrasting data. KEEPING SCORE: Japan's Nikkei 225 rose 0.1 percent to 16,896.53. Hong Kong's Hang Seng index was 0.5 percent up at 23,094.52.

  • SHANGHAI, Sept 1- China's yuan weakened on Thursday morning, with investors cautious ahead of the upcoming G20 summit and U.S. labor figures that may put the Federal Reserve on course to raise rates as early as this month. "And investors are waiting for the U.S. non-farm payrolls data," he added, indicating the U.S. Labor Department's employment report on Friday could...