Wires

  • *Most lawmakers supported Britain staying in the European Union. LONDON, Dec 7- While the British government tries to prevent parliament voting on its plan to trigger the country's exit from the European Union, Reuters research indicates the lower house would in fact support its move, based on lawmakers' recent statements. The government is challenging that...

  • UK LAWMAKERS WOULD BACK LEGISLATION TO TRIGGER EU'S ARTICLE 50- REUTERS ANALYSIS OF STATEMENTS.

  • *Cuts profit targets for Asia-Pacific, wealth management. ZURICH, Dec 7- Credit Suisse pledged to cut another 1 billion Swiss francs in costs and pared back profit targets amid challenging markets which have made it harder for banks to make money. In a statement ahead of its investor day, Credit Suisse lowered its operating cost base target for 2018 to below 17...

  • *Bank of Canada meeting eyed. LONDON, Dec 7- The dollar edged back up towards a 10- month high against the yen on Wednesday, while most major currencies appeared to be looking ahead to Thursday's European Central Bank policy meeting. The European currency had slumped on Monday to $1.0505, its lowest since March 2015, in a knee-jerk reaction after Italian Prime...

  • LONDON, Dec 7- Oil prices slipped on Wednesday on doubts that promised production cuts by OPEC and Russia would be deep enough to end a supply overhang that has weighed on the markets for more than two years. Oil prices surged as much as 19 percent after the Organization of the Petroleum Exporting Countries and Russia announced last week that they would cut...

  • BEIJING, Dec 7- China's foreign exchange reserves fell far more than expected in November to the lowest level in nearly six years, as authorities struggled to stem capital outflows and shore up the sliding yuan in the face of a relentlessly rising dollar. Some traders believe the $3 trillion mark is a key psychological level for the People's Bank of China, but it...

  • TOKYO, Dec 7- Sony Corp will release as many as six smartphone games in the financial year starting April in the hope of replicating the success of console rival Nintendo Co's Pokemon GO with its own gaming franchises. The upcoming titles will free up some of Sony's popular gaming franchises, such as Everybody's Golf, from PlayStation consoles to Apple Inc's iOS...

  • BERLIN— German industrial production rose more weakly than expected in October following a significant decline the previous month. The Economy Ministry said Wednesday that production in Europe's biggest economy was up 0.3 percent compared with September, well below the 0.8 percent economists had predicted. In September, production was down 1.6 percent—...

  • LONDON, Dec 7- European shares rose on Wednesday with the regional banking index hitting an 11- month peak after Credit Suisse announced further costs cuts and Italian banks poised for their best two-day run since 2012.. Italian banks rose 2.2 percent, with Reuters exclusively reporting Italy was preparing to take a 2 billion euros controlling stake in Monte...

  • TOKYO— Japanese billionaire mogul Masayoshi Son, who met with President-elect Donald Trump and then announced plans to create 50,000 jobs and invest $50 billion in U.S. startups, has been one of Japan's most aggressive overseas investors for over two decades. A graduate of the University of California at Berkeley, Son founded Softbank in 1981 after selling a...

  • Dec 7- Hong Kong stocks rose for the second day on Wednesday, lifted by energy and raw materials sectors, but trading was thin as investors were cautious ahead of the European Central Bank's policy meeting on Thursday. Investors were awaiting the outcome of the ECB meeting as the immediate threat of financial and political instability in Italy following its...

  • BEIJING, Dec 7- China's gold reserves totalled 59.24 million fine troy ounces at the end of November, unchanged from a month earlier, the central bank said on Tuesday. The reserves were valued at $69.8 billion, down from $75.3 billion at the end of October, reflecting the drop in the spot bullion price. The world's second-largest economy ranks fifth on gold reserves...

  • BEIJING, Dec 7- China's foreign exchange reserves fell for a fifth straight month in November and by more than expected to the lowest since March 2011, as authorities struggled to shore up the sliding yuan currency in the face of a relentlessly rising dollar. President-elect Donald Trump has vowed to label China a currency manipulator on his first day in office...

  • LONDON, Dec 7- Britain's competition watchdog has fined Pfizer a record 84.2 million pounds for its role in ramping up the cost of an epilepsy drug by as much as 2,600 percent. The CMA said UK prices for the capsules were many times higher than elsewhere in Europe. "The companies deliberately exploited the opportunity offered by debranding to hike up the price for a...

  • SINGAPORE, Dec 7- Oil prices slipped on Wednesday on persistent doubts whether a planned crude production cut led by OPEC and Russia would be deep enough to end a supply overhang that has dogged markets for over two years. Since the deal was announced, both OPEC and Russia have since reported record production. "With both Russia and OPEC producing at record, the...

  • LAS VEGAS— On the theory that a driver who knows when a red light will turn green is more relaxed and aware, vehicle manufacturer Audi is unveiling this week in Las Vegas a technology that enables vehicles to "read" traffic signals ahead and tell the motorist how long the wait will be. It's a simple display for the driver— a dashboard traffic signal icon and a timer next...

  • President-elect Donald Trump's tax cut plans and investors overcome concerns about a pending rise in protectionism, a Reuters poll found. Asian stocks have performed unevenly this year, as a series of events from China's currency depreciation in January to the Brexit vote in June to Trump's shock election victory last month led to massive capital outflows...

  • TOKYO— The Tokyo District Court has rejected a civil lawsuit demanding that tests into food toxicity and illnesses required by law be carried out for " Minamata disease" poisoning. Minamata disease, one of Japan's worst environmental disasters, refers to mercury poisoning from eating fish and shellfish. Thousands of people were sickened or crippled from the...

  • *Statement follows SoftBank commitment to invest $50 bln in U.S. TAIPEI, Dec 7- Foxconn, the world's largest contract electronics manufacturer and a major Apple Inc supplier, said on Wednesday that it was in preliminary discussions to expand its operations in the United States. On Tuesday, Masayoshi Son of Japan's SoftBank Group Corp said he would invest $50...

  • MELBOURNE, Dec 7- London copper rose on Wednesday, buoyed by signs that global manufacturing activity will return to a firmer footing next year and as metals attracted fresh interest from investors. New orders for U.S. factory goods recorded their biggest increase in nearly 1-1/ 2 years in October, further evidence that the manufacturing sector is gradually...