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Wires

  • *Geely aims to drive Proton sales in RHD markets; UK, India. BEIJING, Feb 20- Chinese automaker Zhejiang Geely Holding Group Co is expected to bid as early as this week for a strategic partnership with struggling Malaysian car maker Proton Holdings Bhd, two people familiar with the bidding process told Reuters. As part of its pitch following discussions with...

  • ABU DHABI, Feb 20- Abu Dhabi awarded a 4 percent stake in its giant onshore oil concession to CEFC China Energy Co for a fee of 3.3 billion dirhams, state-owned Abu Dhabi National Oil Co said on Monday. The onshore fields, operated by Abu Dhabi Company for Onshore Petroleum Operations (ADCO, have total resources estimated at between 20 billion and 30 billion barrels...

  • LONDON— A former counterterrorism chief for London's Metropolitan Police says Britain's withdrawal from the European Union could compromise the security of other EU members if they do not continue to have full access to British intelligence. Richard Walton says that Brexit "represents a risk to the safety" of other EU nations as Britain's membership "is more...

  • LONDON, Feb 20- The pensions deficit at General Motors' British division stands at up to 1 billion pounds, a source told Reuters on Monday, amid fears over the future of its Vauxhall plants as Peugeot explores a European buyout. Peugeot is considering taking over GM's European divisions Vauxhall and Opel, prompting concerns among British trade unions over the...

  • LONDON, Feb 20- Vanguard, the world's second biggest asset manager, called on Monday for a' health warning' to be attached to funds to help investors understand the impact fees have on their returns. The suggestion formed part of its response to Britain's regulator, the Financial Conduct Authority, which in November released its interim findings into the asset...

  • FRANKFURT, Feb 20- Homes in large German cities are between 15 and 30 percent overpriced, the Bundesbank said on Monday, in a message that is likely to stoke further fears in Europe's strongest economy about the side-effects of monetary stimulus. Germans have been sceptical of the European Central Bank's policy mix of sub-zero rates and aggressive bond...

  • JAKARTA, Feb 20- U.S. mining giant Freeport-McMoRan Inc warned on Monday it could take the Indonesian government to arbitration and seek damages over a contractual dispute that has halted operations at the world's second-biggest copper mine. The row, which centers around the sanctity of Freeport's 30- year mining contract, comes as Indonesia seeks to squeeze...

  • LONDON, Feb 20- Gold held steady on Monday after ending the previous week little changed, as traders awaited further clues on the pace of U.S. interest rate rises from a raft of Federal Reserve officials due to speak this week. Spot gold was at $1,235.21 an ounce at 1030 GMT,. "It's still wait and see for the gold market right now," UBS analyst Joni Teves said.

  • DUBAI, Feb 20- Rania Nashar was named chief executive of Samba Financial Group on Monday, becoming the first female CEO of a listed Saudi commercial bank in line with the government's economic and social reforms. Women, banned from driving in Saudi Arabia and subject to a system of male guardianship, hold few top posts in the financial sector.

  • Resort owners The Walt Disney Co. and the Hong Kong government, which has a 53 percent stake, last year announced a $1.4 billion expansion for the park, which has been criticized for being too small and having too few big-ticket rides. However, Disney's board and Hong Kong lawmakers need to approve its funding. Hong Kong is also working to improve its...

  • *Kraft camp feared UK political opposition to takeover. LONDON, Feb 20- Kraft Heinz Co's rapid retreat from its surprise $143 billion bid for Unilever in the face of stiff resistance from the company and politicians sent shares in the Anglo-Dutch group 8 percent lower on Monday. Britain's response was also a concern after Prime Minister Theresa May signalled...

  • *Stocks rise slightly, Moneta Bank rise helps Prague. BUDAPEST, Feb 20- Prague led a cautious rise in Central European equities on Monday, mainly driven by the gains of Moneta Money Bank, while Central European assets were mostly moving sideways. Prague's main index firmed 0.4 percent by 0929 GMT.

  • LONDON, Feb 20- The pound rose against most major currencies on Monday, snapping a three-day fall versus the euro, at the start of another week likely to be dominated by questions about how Britain will leave the EU and the impact of Brexit on the economy. The upper house of parliament, known as the House of Lords, was set to begin debating the bill which will pave the way...

  • LONDON, Feb 20- Turkey's lira hit the strongest level in more than six weeks against the dollar and Mongolian bonds soared after a $5.5 billion IMF-led bailout for the country, outperforming broader emerging markets. Turkey's lira strengthened 0.3 percent in its second day of gains, shrugging off data showing consumer confidence declining in February, though...

  • LONDON, Feb 20- The head of Britain's biggest trade union Unite is likely to meet the CEO of Peugeot on Friday in London to discuss the potential takeover of General Motors' European operations, a trade union source told Reuters. "It looks like it is happening on Friday morning," the source said of the meeting between Unite General Secretary Len McCluskey and Peugeot...

  • *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 U.S. 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.

  • *Stocks rise in Europe and Asia, driven by merger activity. LONDON, Feb 20- European stocks rose on Monday, led higher by Deutsche Telekom on talk of a merger involving its U.S. mobile unit, while the dollar dipped as uncertainty over European politics and the timing of a U.S. interest rate rise kept investors nervous. U.S. markets were closed for the Presidents Day...

  • PARIS, Feb 20- A consortium led by construction group Vinci has won a 926 million euros contract to undertake work on the new Paris Ligne 15 South metro line that forms part of large-scale expansion plans for the French capital. The project is backed by the French state and the local authority for the Ile-de- France region, which numbers 12 million habitants and...

  • NEW YORK— Shares in Unilever, the owner of brands like Hellman's, Lipton, and Knorr, are down sharply after rival Kraft Heinz withdrew a $143 billion takeover offer. The deal would have combined Kraft Heinz products such as Oscar Mayer, Jell-O and Velveeta with Unilever's stable of brands, which include food as well as other consumer goods like Dove soap and...

  • SHANGHAI, Feb 20- China tweaked its formula for setting daily reference midpoints for its yuan currency on Monday, three sources with direct knowledge of the matter said, in what was seen as authorities' latest move to help curb speculation in the currency. Global attention on China's exchange rate policy has intensified since its foreign exchange reserves...