Wires

  • PARIS, Sept 29- Daimler's Mercedes-Benz and Smart brands will launch more than 10 electric cars by 2025, and zero-emission vehicles will make up between 15 percent and 25 percent of overall Mercedes sales by then, Chief Executive Dieter Zetsche said. Speaking to journalists at the Paris Motor Show on Thursday, Zetsche said the automaker was preparing a major...

  • LONDON, Sept 29- Lead climbed on Thursday to its highest since May last year, supported by steadier copper prices and worries over mine supply, while nickel retreated from a seven-week high. The metal hit $2,041.50 earlier, its strongest since May 2015, extending gains from the previous session, when rising oil prices also lent support. On the Shanghai Futures...

  • Sept 29- Wells Fargo& Co Chief Executive Officer John Stumpf returns to Capitol Hill on Thursday with his job under threat and the bank facing rising political pressure over a sales scandal that has become a major issue in Washington and on Wall Street. Stumpf will appear before the House Financial Services Committee, his second congressional appearance in...

  • DUBAI, Sept 29- Net foreign assets at Saudi Arabia's central bank fell to $554 billion in August, down by about $1 billion from July, as the government drew on reserves to cover a budget deficit caused by low oil prices, official data showed on Thursday. They reached a record high of $737 billion in August 2014 before starting to fall. Those deposits shrank 4.2 percent...

  • ORLANDO, Fla., Sept 29- A top U.S. Atlanta Federal Reserve President Dennis Lockhart said he expected the Fed would raise interest rates "before long." Lockhart's comments were in a prepared speech at an event here sponsored by the Florida Chamber Foundation.

  • ATHENS, Sept 29- Greece has forecast 2.7 percent economic growth next year, its first rebound after seven years of crippling recession, as investment picks up and tourism surges, a government official familiar with the draft budget said on Thursday. The recipient of three international bailouts, Greece's economy has shrunk by a quarter since a debt crisis...

  • GREEK DEBT SEEN FALLING TO 175.8 PCT/ GDP IN 2017 FROM ABOUT 180 PCT/ GDP THIS YEAR- GOVT SOURCE.

  • GREECE 2017 BUDGET TO FORECAST 2.7 PCT ECONOMIC GROWTH NEXT YEAR, SHAKING OFF SEVEN YEARS OF RECESSION- GOVT SOURCE.

  • GREECE TO EXCEED ITS PRIMARY BUDGET SURPLUS TARGET IN 2016- GOVT SOURCE.

  • PHNOM PENH, Cambodia— The Cambodian government has agreed to raise the minimum wage for clothing and footwear workers, a move that could help placate workers in the country's biggest export industry. The Ministry of Labor, Vocational and Training said in a statement Thursday that the minimum wage would be raised by 9.2 percent to $153 a month, effective at the...

  • LONDON, Sept 29- Deutsche Bank's troubles are not Europe's Lehman Brothers moment, Austria's finance minister said on Thursday, although he warned the region's lenders were facing a broader profitability crisis. Germany's biggest bank Deutsche has seen its value halve this year amid worries it will have to raise fresh capital to pay for a string of heavy fines,...

  • DEUTSCHE BANK IS NOT A TOPIC FOR ECOFIN/EUROGROUP DISCUSSIONS- SCHELLING.

  • NEED TO COMBINE FISCAL WITH MONETARY POLICY TO ACHIEVE GOALS- SCHELLING.

  • EUROPE'S BANKS HAVE A PROFITABILITY CRISIS, NOT A BANKING CRISIS- AUSTRIAN FINANCE MINISTER SCHELLING IN REUTERS INTERVIEW.

  • However, sales fell 4.6 percent to $2.67 billion, missing analysts' estimates, hurt by lower demand for its grocery, snacks and frozen food items. Net income attributable to the company was $186.2 million, or 42 cents per share, compared with a loss of $1.15 billion, or $2.68 per share, in the same period last year. Analysts had expected adjusted earnings of 48 cents per...

  • WASHINGTON— The U.S. economy expanded at a slightly faster pace in the spring than previously reported, aided by new-found strength in business construction. The Commerce Department said Thursday the gross domestic product, the broadest measure of the economy, expanded at an annual pace of 1.4 percent in the April-June quarter. That is up from a previous...

  • WASHINGTON— More Americans sought unemployment benefits last week but the number of applications remained low, the latest sign that layoffs are scarce. THE NUMBERS: The Labor Department said Thursday that weekly applications for jobless aid rose 3,000 to a seasonally adjusted 254,000. The four-week average, a less volatile measure, ticked down to 256,000,...

  • WASHINGTON, Sept 29- U.S. economic growth was less sluggish than previously thought in the second quarter as exports grew more than imports and businesses raised their investments, hopeful signs for the economic outlook. Gross domestic product expanded at a 1.4 percent annual rate, the Commerce Department said on Thursday in its third estimate of GDP.

  • WASHINGTON, Sept 29- The number of Americans filing for unemployment benefits rose less than expected last week and held at relatively healthy levels that could support Federal Reserve plans to raise interest rates this year. Initial claims for state unemployment benefits rose 3,000 to a seasonally adjusted 254,000 for the week ended Sept. 24, the Labor...

  • WASHINGTON, Sept 29- The number of Americans filing for unemployment benefits rose less than expected last week and held at relatively healthy levels that could support Federal Reserve plans to raise interest rates this year. Initial claims for state unemployment benefits rose 3,000 to a seasonally adjusted 254,000 for the week ended Sept. 24, the Labor...