Wires

  • *Company said UK business performed strongly last month. LONDON, Aug 24- WPP, the world's largest advertising group, reported a better-than-expected 3.8 percent jump in first-half net sales and nudged its revenue forecast higher on strong demand across the board for its services. WPP shares traded more than 3 percent higher at 1804 pence at 0705 GMT, making them...

  • BEIJING, Aug 24- China stocks slipped on Wednesday, pulled down by financial shares amid receding expectations of aggressive monetary easing, while property shares also declined. The CSI300 index, which tracks the largest listed companies trading in Shanghai and Shenzhen, fell 0.4 percent, to 3,329.86 points. China's central bank on Wednesday injected cash...

  • LONDON, Aug 24- WPP, the world's largest advertising group, reported a better-than-expected 3.8 percent jump in first-half net sales and nudged its revenue forecast higher on strong demand across the board for its services. The group, run by the high-profile businessman Martin Sorrell, said it now expected full-year revenue growth to be "well over" 3 percent,...

  • *Beijing tax evasion clampdown raises demand fears. SINGAPORE, Aug 24- Oil prices fell on Wednesday as an unexpected build in U.S. crude inventories weighed on markets, along with concerns that Chinese crude demand could falter as Beijing clamps down on alleged tax evasion in the oil industry. International Brent crude oil futures were trading at $49.32 a barrel...

  • DUBAI, Aug 24- Dubai- listed builder Drake& Scull International has not hired a legal adviser to help to bring a strategic investor into the company, it said on Wednesday. "The company denies the appointment of any legal adviser in connection with bringing in a strategic investor or issuance of mandatory convertible bonds," the company said in a brief statement to...

  • SYDNEY/ NEW DELHI, Aug 24- India is investigating damage caused to French Scorpene submarines that are being built in the country, the defense ministry said on Wednesday, after the leak of documents relating to the vessel's combat capabilities. The massive leak has also raised doubts about the security of DCNS's submarine project in Australia where it won a A $50...

  • TOKYO, Aug 24- Japan's Nikkei share average rose on Wednesday with a pause in the yen's rise lifting cyclical stocks, although caution before Federal Reserve Chair Janet Yellen's appearance at a central bankers' meeting later in the week limited the gains. The Nikkei closed 0.6 percent higher at 16,597.30. Yellen will speak on Friday at an annual gathering of...

  • BERLIN, Aug 24- Higher exports, state spending and private consumption drove a 0.4 percent expansion in German gross domestic product in the second quarter, more than offsetting weaker investment by companies in Europe's biggest economy, data showed on Wednesday. Confirming a preliminary reading for growth, the Federal Statistics Office said net foreign...

  • *Say to go ahead with $23- billion in new investments. MANILA, Aug 24- Philippine miners claim the government's environmental crackdown is a "demolition campaign" against mineral producers and are seeking to meet with President Rodrigo Duterte amid a spate of shutdowns stemming from the probe, an industry official said. The country's mining industry expects to...

  • *Aramco could reduce stake in Cilacap facility- Indonesia govt. *Indonesia hopes to formalize joint venture in Oct. JAKARTA, Aug 24- Oil and gas giant Saudi Aramco may reduce its stake in a proposed $5.5 billion refinery project in Indonesia, the southeast Asian nation's energy minister said on Wednesday.

  • *Hong Kong stocks top losers; Japan gains. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 percent in early trade. "China's stock markets have benefited from Brexit-related capital flows but that impact is fading and we are cautious on the market outlook given increasing signs of economic weakness," said Francis Cheung, head of China and Hong...

  • NEW DELHI, Aug 24- India's defence ministry said on Wednesday that the source of secret documents detailing the capabilities of the French-designed Scorpene submarine being built for the Indian navy appeared to be "from overseas and not from India". Defence Minister Manohar Parrikar said earlier the security breach appeared to have been the work of hackers.

  • NEW DELHI, Aug 24- India's defense ministry said on Wednesday that the source of secret documents detailing the capabilities of the French-designed Scorpene submarine being built for the Indian navy appeared to be "from overseas and not from India." Defense Minister Manohar Parrikar said earlier the security breach appeared to have been the work of hackers.

  • BEIJING, Aug 24- China's top economic planner is set to audit 1.8 trillion yuan in special construction funds that were part of a massive program introduced last year to help stabilize the economy, 21th century business herald said. The move by the National Development and Reform Commission comes as Beijing is ramping up fiscal spending and launching a flurry...

  • NEW DELHI, Aug 24- India's defence minister said documents relating to the French Scorpene submarine being built in the country appeared to have been hacked, after an Australian newspaper reported a leak of thousands of pages detailing the vessel's top-secret capability. "I understand there has been a case of hacking, we will find out what has happened," Manohar...

  • SHANGHAI, Aug 24- China's yuan weakened on Wednesday, after the dollar strengthened and the central bank conducted its first 14- day reverse repurchase operation in the money markets since February, which some analysts said indicated growing concerns over leverage. The People's Bank of China set the midpoint rate at 6.642 per dollar prior to market open,...

  • *HK-> Shanghai Connect daily quota used 1 pct, Shanghai-> HK daily quota used 5.7 pct. BEIJING, Aug 24- China stocks were down modestly at the lunch break on Wednesday with the blue-chip CSI 300 index edging down marginally, dragged by financial shares amid receding expectations of further aggressive monetary easings. The CSI300 index, which tracks the largest listed...

  • SHANGHAI, Aug 24- China's state asset manager sought to ease market worries about possible defaults, pledging on Wednesday to scrutinize bonds maturing in three months and saying a state-owned railway firm has managed to avoid default. The commission said it will "analyze such bonds one by one, make timely precautions, and actively deal with risks, in order to...

  • SINGAPORE, Aug 24- Tencent Holdings Ltd and Samsung Electronics Co Ltd are racing to be crowned Asia's most valuable company as expectations for robust earnings growth push their share prices to record highs. "These companies can grow earnings despite weaker global growth," said Andrew Gillan, head of Asia ex- Japan equities at fund managing firm Henderson...

  • AMATRICE, Italy— The Latest on the earthquake in central Italy:. The ANSA news agency says two bodies have been pulled from the rubble of quake-hit Amatrice in central Italy after a strong quake levelled buildings as residents slept. Residents across a broad swath of central Italy felt the temblor, which struck at 3:36 a.m. and sent people running into the...