Wires

  • SINGAPORE, Sept 29- Oil futures retreated on Thursday as the market grew more sceptical on how OPEC would implement a plan to curb oil output a day after the group agreed to limit production. OPEC said each member's output cuts will be decided at its next formal meeting in November, when an invitation to join the deal could also be extended to other producers such as...

  • SINGAPORE/ SEOUL, Sept 29- Asian crude oil buyers remained cautious, eyeing details of an OPEC deal after the oil-producers group agreed for the first time since 2008 to reduce output in an oversupplied market. However, how much each country will produce is to be decided at the next formal OPEC meeting in November, when an invitation to join cuts could also be...

  • *Focus shifts to U.S., Europe economic data. Fed officials have weakened their credibility and the market has stopped buying their comments, "said Jiang Shu, chief analyst at Shandong Gold Group. "For now, we can see gold move in the band of $1,300 to $1,350."

  • SEOUL, Sept 29- Samsung Electronics, which is already reeling from a global recall of its Note 7 smartphones, said on Thursday it is in talks with a U.S. watchdog to address potential safety problems related to some of its washing machines. The South Korean tech company's comments came as the U.S. Consumer Product Safety Commission warned of problems with some of...

  • CANBERRA, Australia— A rush by Australia's state governments to switch to clean electricity sources could undermine the country's energy security, the federal government warned Thursday after an entire state lost power. South Australia state lost power on Wednesday as it was lashed by two tornados, thunder storms and fierce winds that caused traffic chaos,...

  • UNITED NATIONS— The Paris Agreement on Climate Change appears likely to enter into force with India announcing that it has ratified the agreement and the EU signaling it may ratify within the next few days, officials said. If that were to happen before Oct. 7 the next U.N. conference on climate change set to take place in Marrakech would begin on Nov. 7 with the...

  • HOUSTON, Sept 29- It was a moment U.S. shale oil producers have been waiting on for more than two years: OPEC nations finally agreed to cut production on Wednesday in a move that lifted low prices ravaging their budgets. U.S. benchmark crude rose more than 5 percent to $47 a barrel on the news, pending final details about the cut, which won't be known until after another...

  • *Shanghai lead surges to highest since 2013. MANILA, Sept 29- London lead futures climbed to the highest since May last year on Thursday amid worries over tighter supply in top market China and elsewhere, while nickel held near seven-week highs on similar supply risks from top ore exporter Philippines. The supply of lead concentrate in China is "very tight and the...

  • *Rains seen hurting Australia's near-record wheat crop. SINGAPORE, Sept 29- Chicago soybeans bounced back on Thursday, rising almost 1 percent on strong demand from top importer China, although expectations of a quickened pace for the U.S. harvest capped gains. Chicago Board of Trade most-active soybean contract rose 0.9 percent to $9.53-1/ 2 a bushel by 0246 GMT,...

  • *Japan nuclear industry hobbled by shutdowns after Fukushima. TOKYO, Sept 29- Three Japanese conglomerates are in talks to combine their loss-making domestic nuclear fuel operations, a person with direct knowledge of the matter said, as the outlook for restarts of reactors following the Fukushima nuclear crisis remains bleak. Public opposition as well as...

  • Sept 28- Samsung Electronics Co Ltd said it was working with a U.S. consumer product safety regulator to address safety issues related to some of its top-load washing machines. The world's top smartphone maker is already reeling from a global recall of at least 2.5 million Note 7 smartphones in 10 markets due to faulty batteries causing some phones to catch fire.

  • TOKYO, Sept 29- Japan's Nikkei share average rose more than 1 percent on Thursday as investors took heart from a weaker yen and rallying oil prices after OPEC's unexpected agreement to trim crude output. "The OPEC move was a surprise, and left some hedge funds scurrying to cover their short positions," said Norihiro Fujito, a senior investment strategist at...

  • *Commodity currencies benefit from OPEC output cut deal. TOKYO, Sept 29- Commodity-linked currencies held firm on Thursday after OPEC agreed to cut oil output in the first such deal since 2008, boosting oil prices while a broad gain in risk assets dented the yen. The Organization of the Petroleum Exporting Countries said it would reduce output to a range of...

  • TAIPEI, Sept 29- Taiwan stocks rose on Thursday on resumption of trading after a two-session break due to a typhoon, as gains in overseas markets boosted investor sentiment. Typhoon Megi, the third typhoon in this month to slam into Taiwan, killed four people and injured hundreds more, prompting work and school closures. On Wednesday, the Taiwan state-controlled...

  • *BHP shuts Olympic Dam mine after power outage. SYDNEY, Sept 29- BHP Billiton said a massive blackout in South Australia has forced it to suspend production at its Olympic Dam copper, gold and uranium mine to divert back-up power to maintain essential operations at the remote site. "Following the loss of power in South Australia, Olympic Dam was able to safely shut...

  • Separate legislation was approved by the House of Representatives earlier in the day setting aid for Flint. It must now be reconciled with a somewhat different bill passed by the Senate. The Senate voted 72-26 earlier on Wednesday to adopt the short-term spending bill.

  • *Oil rallies as OPEC agrees to first output cut in 8 years. HONG KONG, Sept 29- Oil prices extended gains in Asia on Thursday, boosting stock markets, after OPEC members agreed to curb output in a surprise deal, though investors were wary of chasing markets higher as the U.S. presidential election nears. It was OPEC's first agreement to cut production since 2008,...

  • SEOUL, Sept 29- Samsung Electronics Co Ltd said on Thursday it expects to have recovered more than 80 percent of recalled Galaxy Note 7 smartphones sold in South Korea by Oct. 1, when the firm plans to resume sales of the device in its home market. On Sept. 2, Samsung announced a global recall of at least 2.5 million Note 7 s in 10 markets due to faulty batteries causing...

  • SYDNEY, Sept 29- Power was restored to the state of South Australia on Wednesday after storms a day earlier caused an unprecedented statewide blackout which disrupted operations at mining majors like BHP Billiton's, closed ports and halted public transport. Coal-fired power plants dominate the country's power sector resulting in Australia being one of the...

  • *Commodity-linked currencies held firm on Thursday after OPEC agreed to cut oil output in the first such deal since 2008, boosting oil prices sharply. *Oil futures extended gains on Thursday after rising nearly 6 percent the day before on a surprise move by OPEC to curb crude output. *Wall Street ended higher on Wednesday after an OPEC agreement to limit crude...