Wires

  • NEW DELHI, Dec 9- Prime Minister Narendra Modi's surprise decision to scrap high-value banknotes has upset preparations for next year's budget because of the resulting disruption to growth, revenues and asset sales, two government sources said. Modi scrapped 500- rupee and 1,000- rupee banknotes on Nov. 8 in a bid to flush out cash earned through illegal...

  • MOSCOW, Dec 9- Russia plans to hold additional talks on Friday with some OPEC and non- OPEC nations to discuss unresolved issues related to a planned cut in oil output ahead of a wider meeting the following day in Vienna, a Russian government source told Reuters. Other non- OPEC countries are being urged to cut by a similar amount in total. OPEC, which produces a third of...

  • FRANKFURT, Dec 9- German semiconductor chipmaking machinery company Aixtron is considering reducing the size of the business with a partial sale, its chief executive said in an interview published on Friday, opening the door for bidders after a deal with a Chinese firm collapsed. But that would come with high development and ramp-up costs, and risks, " Martin...

  • NEW DELHI, Dec 9- Prime Minister Narendra Modi's surprise decision to scrap high-value banknotes has upset preparations for next year's budget because of the resulting disruption to growth, revenues and asset sales, two government sources said. Modi scrapped 500- rupee and 1,000- rupee banknotes on Nov. 8 in a bid to flush out cash earned through illegal...

  • *Japan's Nikkei posts highest closing level of the year. LONDON, Dec 9- World stocks were set for a weekly gain and held near 16- month highs on Friday, while the euro steadied after swings following the European Central Bank's decision to extend its stimulus programme. The MSCI World index was up 0.1 percent, on track for a gain of 2.7 percent for the week.

  • SEATTLE— Washington has become the first U.S. state to sue the agrochemical giant Monsanto over pervasive pollution from PCBs, the toxic industrial chemicals that have accumulated in plants, fish and people around the globe for decades. "It is time to hold the sole U.S. manufacturer of PCBs accountable for the significant harm they have caused to our state,"...

  • BERLIN, Dec 9- A group of business executives has urged the Group of 20 leading economies to resist the temptation to take protectionist measures and to foster international economic cooperation. Germany took over the G20 presidency last week, a platform Chancellor Angela Merkel wants to use to safeguard multilateral cooperation under threat following...

  • BERLIN, Dec 9- A group of business executives has urged the Group of 20 leading economies to resist the temptation to take protectionist measures and to foster international economic cooperation. Germany took over the G20 presidency last week, a platform Chancellor Angela Merkel wants to use to safeguard multilateral cooperation under threat following...

  • BERLIN, Dec 9- A group of business executives has urged the Group of 20 leading economies to resist the temptation to take protectionist measures and to foster international economic cooperation. Germany took over the G20 presidency last week, a platform Chancellor Angela Merkel wants to use to safeguard multilateral cooperation under threat following...

  • BERLIN, Dec 9- A group of business executives has urged the Group of 20 leading economies to resist the temptation to take protectionist measures and to foster international economic cooperation. Germany took over the G20 presidency last week, a platform Chancellor Angela Merkel wants to use to safeguard multilateral cooperation under threat following...

  • LONDON, Dec 9- Britons expect a sharp rise in inflation over the coming year following the plummet in the value of sterling after Britain's vote to leave the European Union, and more now believe a hike in interest rates is on the way, a Bank of England survey showed. Britain's inflation rate in the 12 months to October stood at 0.9 percent and the Bank has previously...

  • LONDON, Dec 9- Southern Europe led a fall in euro zone borrowing costs on Friday, as the shock of the ECB continuing its stimulus program at reduced levels next year gave way to relief that its bond-buying would remain in place for some time. The European Central Bank on Thursday said it would trim its monthly asset purchases to 60 billion euros from 80 billion euros...

  • BERLIN— Germany's central bank has increased its growth forecast this year and next for the country's economy, Europe's biggest. The Bundesbank said Friday that it expects gross domestic product to rise 1.8 percent in both 2016 and 2017. Bank chief Jens Weidmann said: "Its main driver is buoyant domestic demand, which is being bolstered by the favorable...

  • BEIJING, Dec 9- China will set the major tasks for the government's economic work in 2017, including further advancing supply-side structural reform, the Xinhua news agency reported on Friday. China will also further open its economy in 2017 and work proactively to attract foreign investment, Xinhua said. Xi told the meeting that he was certain that China would...

  • *Euro flat at $1.06 after ECB moves spark 2 cent loss. LONDON, Dec 9- The euro recovered a foothold on Friday after an extension of the European Central Bank's program of money-printing till the end of next year drove its biggest daily loss against the dollar since Britain's vote to leave the European Union in June. "Markets have settled down after yesterday's big...

  • FRANKFURT, Dec 9- Germany's economy is on a solid upward path but weakening consumption growth and labor market bottlenecks could constrain its expansion in the coming years, the country's central bank said on Friday. The state budget, already in the black, will continue to generate surpluses without new spending measures and state debt could fall to 60 percent...

  • FRANKFURT, Dec 9- Germany's economy is on a solid upward path but weakening consumption growth and labour market bottlenecks could constrain its expansion in the coming years, the country's central bank said on Friday. The state budget, already in the black, will continue to generate surpluses without new spending measures and state debt could fall to 60...

  • TOKYO, Dec 9- Japan's millennials have grown up in an economy that never seems to grow. That carries grave portents for Japan's economic policymakers, hampering their ability to spur consumption and lift the world's third-largest economy from decades of tepid growth and deflation. The millennials will form a large part of Japan's consumer society for decades...

  • BERLIN, Dec 9- Mass-selling German newspaper Bild heaped criticism on European Central Bank President Mario Draghi on Friday, a day after the ECB said it would extend its massive stimulus program for the euro zone. German Finance Minister Wolfgang Schaeuble, who regularly presses countries in southern Europe to shape up their economies with reforms, has...

  • DUBLIN, Dec 9- Japanese trading firm Sumitomo Corporation has agreed to buy Irish banana producer Fyffes for 751 million euros, a 49 percent premium to Thursday's price, and said it hoped to complete the deal early next year. Sumitomo, which is a leading banana producer in Asia, said the deal would provide it with "enhanced scale and portfolio diversity."