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Wires

  • TOKYO, Feb 24- Japanese stocks fell on Friday, with investors staying on the sidelines as a lack of clarity over U.S. economic policies under President Donald Trump and political uncertainty in Europe weighed on sentiment. The Nikkei 225 fell 0.5 percent to 19,283.54. The benchmark index however gained 0.3 percent on the week.

  • CAIRO— Egyptians are bearing down under their worst inflation in a decade, cutting spending as much as possible as prices surge on basic food items, transport, housing, and even some essential medicines. The move was part of a reform package to secure an IMF bailout loan of $12 billion desperately needed to shore up investor confidence and overhaul the economy.

  • JAKARTA, Feb 24- Indonesia's crude palm oil output likely declined in January, a second straight monthly drop in the world's top producer of the widely used commodity, a Reuters survey showed. Indonesian Palm Oil Association data showed the country exported 2.68 million tonnes of palm oil and palm kernel oil in December. The January survey comprises responses...

  • The penalties against Houston- based Wood Group PSN were announced Thursday by the U.S. Justice Department in Washington and U.S. attorneys in New Orleans and Lafayette, Louisiana, where civil and criminal cases have been playing out. Wood Group will pay $7 million for falsely reporting that safety inspections were performed on Gulf of Mexico facilities over...

  • BEIJING— Two hundred striking workers attacked a Chinese-owned garment factory in Myanmar, smashing windows and doors and holding seven Chinese staffers captive for several hours. Liu Songhai, a consular official, said Friday that the Chinese staffers were released Thursday afternoon with help from the Myanmar government. China is Myanmar's biggest...

  • CANNON BALL, N.D.— Authorities cleared a protest camp where opponents of the Dakota Access oil pipeline had gathered for the better part of a year, searching tents and huts and arresting dozens of holdouts who had defied a government order to leave. Native Americans who oppose the $3.8 billion pipeline established the Oceti Sakowin camp last April on federal...

  • NEW YORK/ HOUSTON, Feb 24- Traders are turning the spigots to drain the priciest storage tanks holding U.S. crude stockpiles as strengthening markets make it unprofitable to store for future sale and cuts in global production open export opportunities. From Houston through Louisiana to floating storage in the Gulf of Mexico, traders are starting to ship crude...

  • CHERRY HILL, N.J.— New Jersey regulators are set to vote on whether a natural gas pipeline should run through the state's federally protected Pinelands region, which includes more than a million acres of farms, forests and wetlands. The Pinelands Commission is expected to make a final determination Friday morning on the proposal that has touched off a classic...

  • *Guo Shuqing to head China's banking regulator- Caixin. BEIJING, Feb 24- China will appoint a new head for its top economic planning agency and a new commerce minister as part of a reshuffle, people with direct knowledge of the matter said, ahead of a crucial Communist Party meeting later this year. Beijing is struggling to cope with weak global demand and faces risks...

  • TOKYO, Feb 24- Oil prices held gains on Friday on data showing U.S. stockpiles rose for a seventh straight week but at a pace that was well below expectations, and news of oil being sold out of storage in Southeast Asia. While OPEC appears to be sticking to its deal, producers that were not part of the deal, particularly U.S. shale drillers, have increased output, driving...

  • SEOUL, Feb 24- Two senior Samsung Group executives have offered to resign to take responsibility for the conglomerate's involvement in the graft scandal involving South Korean President Park Geun-hye, Yonhap news agency said on Friday, without citing sources. Both executives were identified as suspects by the South Korean special prosecution in a graft...

  • *Plans to hire 10 staff in Singapore, Europe, Houston. The utility company's trading arm plans to hire 10 people in Singapore, Europe and Houston to move growing LPG supplies from the United States to other parts of the world, Engie Energy Management's CEO Eric Simon told Reuters. The United States has become the top exporter of LPG, already sending record volumes to...

  • KEEPING SCORE: Japan's benchmark Nikkei 225 edged 0.2 percent lower to 19,339.56, while South Korea's Kospi fell 0.7 percent to 2,093.33. TRUMP WORRIES: President Donald Trump's stance on trade has unnerved many in Asia, as he has repeatedly accused countries like China and Japan of unfair competition and currency manipulation that he says are hurting U.S....

  • TOKYO, Feb 24- Toshiba Corp said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering seeking protection from creditors, an option analysts say could put the entire TVs-to-construction conglomerate at risk if exercised now. In theory, it could help the Japanese firm draw a line under problems at Westinghouse that have resulted in a...

  • *Posts 2nd straight drop in quarterly revenue on China ad curbs. BEIJING, Feb 24- Baidu Inc's revenue fell for a second straight quarter, hurt by a government crackdown on healthcare advertising, but the internet search giant expects a rebound this year as it retools to find growth outside its core ad business. "We believe that the impact of these initiatives is...

  • TOKYO, Feb 24- The dollar clawed back some ground on Friday after skidding to a two-week low against the yen, but was still on track for weekly losses after the Federal Reserve meeting minutes disappointed dollar bulls. "Market participants were still digesting the FOMC minutes from the January meeting, and there seems to be two different camps in the reading of...

  • SHANGHAI, Feb 24- China stocks fell on Friday morning as weakness in resources shares offset strength in small-caps, but the main indexes are poised to gain for the third straight week amid improving risk appetite. China's blue-chip CSI300 index dipped 0.3 percent, to 3,463.93 by lunch break, but has gained 1.3 percent so far this week. Reflecting rising risk...

  • BEIJING, Feb 24- China will appoint a new head at the country's top economic planning agency and a new commerce minister as part of a reshuffle, sources with direct knowledge of the matter said, ahead of a crucial Communist Party meeting later this year. He Lifeng, a vice chairman of the National Development and Reform Commission, will be named as head of the agency,...

  • HONG KONG— A Chinese wire and cable maker is buying independent studio Millennium Films, which produced "Rambo" and "The Expendables." Recon Holding said Thursday it is taking a 51 percent stake in Millennium for $100 million. The company, based in Yixing near Shanghai, is controlled by Tony Xia.

  • Their statements evoked the opposition expressed by many businesses last year when the state of North Carolina passed a law that forces transgender people to use public restrooms matching their gender assigned at birth. The resulting boycotts have cost North Carolina more than $560 million in economic activity, according to the online magazine Facing...