Wires

  • JACKSON HOLE, Wyo., Aug 26- Schooled in economic thinking that confines monetary policy to the short run, central bankers gathering in Jackson Hole, Wyoming, are grappling with a singular change: whether they can take over as guardians of long-term growth with programs that may stay in place and influence markets for decades to come. Policies put in place then have...

  • SAN FRANCISCO, Aug 26- Chinese powerhouse Didi Chuxing's acquisition of Uber Technologies Inc's China operations marked the biggest move yet toward consolidation in an industry that many investors and Silicon Valley pundits view as a winner-take-all game. On the day the Didi deal was announced earlier this month, Uber board member Bill Gurley said Uber's...

  • SHANGHAI, Aug 26- China stocks rose on Friday morning, recouping the previous day's loss, with some traders attributing the improving sentiment to regulators' denial that insurance money is getting pulled out of the market. The China Insurance Regulatory Commission late on Thursday denied a market rumour in a local media that 600 billion yuan worth of...

  • SHANGHAI, Aug 26- China stocks rose on Friday morning, recouping the previous day's loss, with some traders attributing the improving sentiment to regulators' denial that insurance money is getting pulled out of the market. The China Insurance Regulatory Commission late on Thursday denied a market rumor in a local media that 600 billion yuan worth of insurance...

  • "Gold prices are in the sidelines, waiting for clues from Yellen's speech," said Helen Lau, an analyst with Argonaut Securities in Hong Kong. Spot gold was up 0.2 percent at $1,323.81 an ounce at 0407 GMT after touching a 4- week low of $1,317.46 in the previous session, and looked set to post a weekly loss of over 1 percent. Spot gold may break a support at $1,318 per ounce...

  • *Lotte Group Vice Chairman Lee In-won has died- Lotte Group. SEOUL, Aug 26- One of the seniormost executives at South Korea's Lotte Group was found dead on Friday, a suspected suicide, hours before he was to be questioned by prosecutors conducting a criminal probe into the family-run conglomerate. Lotte Group, in a text message to reporters, said it confirmed the...

  • TOKYO— Japanese airline All Nippon Airways has started grounding Boeing 787 "Dreamliner" flights after detecting problems with their Rolls-Royce engines. It has been repairing some of the 37 used on international routes since a problem with the engine was detected in Kuala Lumpur, Malaysia, in February. ANA spokesman Tetsuya Yokoi said the airline has decided...

  • Theranos has filed a notice of intent to appeal sanctions imposed by the Centers for Medicare and Medicaid Services on the company's lab in Newark, California, the privately held company said late Thursday. CMS revoked a key certificate for the lab in July and terminated the facility's approval to receive Medicare and Medicaid payments for all services.

  • SHANGHAI, Aug 26- China's yuan weakened marginally Friday as the dollar traded sideways, with mainland currency traders awaiting an important speech by U.S. Federal Reserve Chair Janet Yellen later today. The People's Bank of China set the midpoint rate at 6.6488 per dollar prior to market open, firmer than the previous fix 6.6602.

  • BEIJING, Aug 26- China and the United States are still in frequent discussion about a bilateral trade pact, despite a challenging global trade environment, a Chinese commerce official said on Thursday. The United States- China's second-largest trade partner after the European Union- has imposed anti-dumping and countervailing duties on Chinese products and...

  • WASHINGTON— When Janet Yellen steps to the microphone Friday morning at an annual central bank forum in Jackson Hole, Wyoming, investors will be listening for one thing above all: Any hint of the Federal Reserve chair's expected timetable for the next interest rate increase. Some of Yellen's colleagues, including the host of the forum— Esther George, head of the...

  • TOKYO, Aug 26- The yen could be in for a bout of volatility and may even strengthen further in September, building on the boost from a sharp recent rise in Japanese government bond yields. Japanese government bond yields spiked in response to the limited scope of the Bank of Japan's stimulus increase, drove the yen's rise and turned the U.S.- Japan long-term...

  • TOKYO, Aug 26- Japanese government bond prices slipped on Friday, with the market tracking an overnight fall in U.S. Sentiment was cautious with some bracing for Federal Reserve Chair Janet Yellen to strike a hawkish tone later in the day, along with other policymakers who have expressed such views over the past week. Yellen will speak at an annual gathering of...

  • NEW DELHI/ MUMBAI, Aug 25- When Urjit Patel became head of the Reserve Bank of India's monetary policy department three years ago, the to and fro of bankers and traders meeting officials for cosy, broad-ranging discussions abruptly ended. "Too much communication can also confuse markets," said A. Prasanna, an economist at ICICI Securities Primary Dealership Ltd..

  • MELBOURNE, Aug 26- London zinc rallied to its highest in 15 months on Friday as fresh shutdowns in China's steel sector added to mine supply concerns to ignite a short-covering rally. China plans to cut steel production by 2.91 million tonnes this year in inner Mongolia, an industry group reported on its website on Friday. As China steel mills shutter, steel prices...

  • SINGAPORE/ TOKYO, Aug 26- Asian stocks were steady on Friday with modest losses in some markets and gains in others reflecting nervousness before a keenly anticipated speech by U.S. Federal Reserve Chair Janet Yellen. MSCI's broadest index of Asia Pacific shares outside Japan was little changed as investors awaited some direction from Yellen on whether the...

  • SINGAPORE, Aug 26- Chicago soybeans were on track on Friday for a weekly decline of almost three percent as a keenly watched U.S. crop-tour pegged above-average yields across key producing Midwest. Chicago Board Of Trade most-active soybean contract has shed 2.8 percent this week, its first such drop in three weeks. Soybean potential in eastern Iowa looked on...

  • BEIJING, Aug 26- The 14- day reverse repos will give the Chinese market more flexibility, a central bank official said on Friday. The issuance of 7- day reverse repos will continue, and there are signs that its interest rate is following the policy interest rates, central bank vice governor Yi Gang said at a forum in Beijing. He added that both 7- day and 14- day reverse...

  • TOKYO, Aug 26- Japanese stocks fell on Friday morning in line with a dip on Wall Street and as investors stayed cautious before a speech by Federal Reserve Chair Janet Yellen, but companies announcing share buybacks attracted buying. Traders expect overall trading to be subdued on Friday amid caution before Yellen delivers the keynote speech at the annual...

  • *Lotte Group Vice Chairman Lee In-won has died- Lotte Group. SEOUL, Aug 26- A senior executive at South Korea's Lotte Group was found dead on Friday, a suspected suicide, hours before he was to be questioned by prosecutors conducting a criminal probe into the family-run conglomerate, news reports said. Lotte Group, in a text message to reporters, said it confirmed the...