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Wires

  • LONDON, Feb 20- Hedge funds and other money managers have amassed a very large bullish position in crude oil futures and options without so far having much impact on oil prices. The combined net long position has a notional valuation of more than $49 billion, which is the highest since July 2014. Fund managers now have the most bullish view on oil since the first half...

  • SAO PAULO, Feb 20- Vale SA plans to become a company with no defined controlling shareholder as soon as possible, in a landmark step aimed at enhancing transparency and equal rights for all shareholders in the world's largest iron ore producer. In a Monday statement, Vale said controlling shareholders grouped under holding company Valepar SA agreed to renew an...

  • BERLIN/ ATHENS, Feb 20- Greece may need far less in bailout loans from international lenders because its finance are improving better than expected, the head the euro zone bailout fund was quoted on Monday as saying. Klaus Regling, the fund's managing director, told German newspaper Bild that at the end of Greece's money-for-reforms package in August 2018, the ESM...

  • LONDON, Feb 20- Asset manager Vanguard said on Monday that funds should carry health warnings about fees though the U.S. giant rejected the idea of more radical fee changes proposed in a British regulatory review of the sector. The Financial Conduct Authority launched the review last year saying it planned to overhaul Britain's 7 trillion pound asset...

  • ABU DHABI, Feb 20- Russia hopes to get around European Union sanctions by reaching a deal with Iran for the supply of gas turbine equipment for two power plants in Crimea, the head of Russian state defence conglomerate Rostec said on Monday. EU sanctions bar European individuals and companies from providing energy technology to Crimea, which was annexed by...

  • LONDON, Feb 20- Gold held steady on Monday as traders awaited further clues on the pace of U.S. interest rate rises from a group of Federal Reserve officials due to speak this week. Spot gold was at $1,236.01 an ounce at 1230 GMT,. little changed from $1,235.22 on Friday, while U.S. gold futures for April delivery were down 0.2 percent at $1,237.10.

  • *Freeport says could damages in Grasberg dispute. *Officials at Chile mine put conditions on meeting with union. LONDON, Feb 20- Copper bounced back above $6,000 a tonne on Monday as a dispute escalated over the world's second-biggest copper operation in Indonesia while zinc was boosted by a drop in inventories.

  • *Freeport says could damages in Grasberg dispute. *Officials at Chile mine put conditions on meeting with union. LONDON, Feb 20- Copper bounced back above $6,000 a tonne on Monday as a dispute escalated over the world's second-biggest copper operation in Indonesia while zinc was boosted by a drop in inventories.

  • OTTAWA, Feb 20- The pace of Canadian wholesale trade accelerated in December in its third consecutive monthly gain, with increases seen in most sectors, including machinery and building material, data from Statistics Canada showed on Monday. Volumes in December were up 0.9 percent, which could support overall economic growth during the month, although...

  • BERLIN, Feb 20- Initial talks between the German government and carmakers PSA and General Motors have led to some encouraging signals that jobs at Opel factories will be preserved, but no guarantees have been made yet, a top official said on Monday. GM and PSA so far have not given binding guarantees to preserve German jobs and factories at Opel, Deputy Economy...

  • LONDON, Feb 20- The head of Britain's biggest trade union is likely to meet the CEO of PSA Group on Friday amid growing concerns over the future of Vauxhall plants if the French carmaker buys the business from General Motors, a union source told Reuters. Peugeot-maker PSA is in talks to buy GM's loss-making European business, which operates under the Vauxhall and...

  • LONDON, Feb 20- The euro rode out signs of gains for far-right French presidential candidate Marine Le Pen on Monday, inching higher against the dollar and the yen in trade held in check by the absence of U.S. investors for a holiday. "This stuff is getting played out in the OAT yields rather than the currency," said the head of FX sales with one large international bank...

  • LONDON, Feb 20- British manufacturers had their best month in two years in February but the post-Brexit vote fall in the value of the pound is making them push up their prices sharply, posing a challenge for 2017, an industry survey showed. The survey published on Monday added to other signs of a pickup in manufacturing on the back of Britain's strong economic...

  • *Stocks rise in Europe and Asia, driven by merger activity. LONDON, Feb 20- European stocks rose on Monday, with gains in telecoms and banks offsetting a big fall in Unilever, while the dollar dipped as uncertainty over politics and the timing of a U.S. interest rate rise kept investors nervous. U.S. markets were closed for the Presidents Day holiday, and this...

  • MANILA, Feb 20- The Philippines' environment minister said on Monday she stands by her decision to shut more than half the country's operating mines and bar mining in watershed zones as an inter-agency panel began a review of her actions. Members of the government's Mining Industry Coordinating Council will scrutinize the affected mines to ensure due process...

  • *OPEC cut compliance around 90 pct, but U.S. output rising. Investors have certainly taken OPEC members at their word on their commitment to cut production and now hold more crude futures and options than at any time on record. "There is still a general consensus that the OPEC/ non- OPEC agreement helps supply to get in line with demand.

  • BERLIN— Germany's economy minister plans to discuss the future of General Motors' Opel subsidiary during a visit to Paris on Thursday. A spokesman for Brigitte Zypries said Monday the issue of a possible takeover by France's PSA Group would play a "big role" in talks with her French counterpart. The German government was caught off guard last week by news about a...

  • *Kraft camp had told UK Business Secretary details of plan. LONDON, Feb 20- Kraft Heinz Co's rapid retreat from its surprise $143 billion bid for Unilever in the face of stiff resistance knocked the Anglo-Dutch company's shares on Monday as investors assessed the impact of the failed approach. Kraft laid out its plan to create a consumer goods behemoth with...

  • LISBON, Portugal— Portugal's central bank says it has picked U.S. private equity firm Lone Star for exclusive final negotiations on its bid to buy Novo Banco, the so-called good bank salvaged by the Portuguese government from the collapse of major lender Banco Espirito Santo. The Bank of Portugal said Monday the negotiations aimed to finalize the terms of a sale...

  • HELSINKI— A Swedish think tank says that the global arms trade has steadily increased in volume the past five years, propelled by an almost doubling of arms imports in the Middle East and strong growth in demand in Asia. Five countries— United States, Russia, China, France, Germany— accounted for 74 percent of the total arms exports. The Stockholm International Peace...