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Wires

  • SAUDI ENERGY MINISTER DOES NOT EXPECT ANY OBJECTION WITHIN OPEC TO 9 MONTH EXTENSION OF OIL OUTPUT CUT.

  • Romania was the EU's fastest-growing economy in January-March, expanding 5.7 percent from a year earlier likely due to a consumption boom fueled by wage hikes and tax cuts. Romania reported a slight budget surplus at the end of the first quarter, but both the Council and the European Commission expect Romania to overshoot the bloc's deficit ceiling of 3...

  • NEW YORK, May 22- The dollar slipped to a more than six-month low against a basket of currencies on Monday, extending its losses from last week, as an uncertain U.S. political climate continues to weigh on the greenback. It fell to a low of 96.797, its lowest since Nov. 9, earlier in the session. "I think it is a continuation of the move we have seen since mid-April," said Omer...

  • CHICAGO, May 22- Chicago Board of Trade corn and soybean futures rose on Monday morning, supported by concerns that rain will delay field work in key growing areas and may damage some recently seeded crops, traders said. At 10:42 a.m. CDT, CBOT July corn futures were up 4-1/ 2 cents at $3.77. Soybean futures for July delivery were 5-1/ 2 cents higher at $9.58-1/ 2 a bushel.

  • In a year when Austria, the Netherlands and France have fended off populist challenges at elections, political tension in Spain- where a minority government is in power- had fallen off euro zone investors' radar. But Pedro Sanchez's re-election on Sunday as leader of the Spanish Socialist Workers' Party served as a reminder of the government's fragility in Spain.

  • SAUDI ENERGY MINISTER SAYS DECISION TO EXTEND OIL OUTPUT CUT WILL NOT BE FINALISED UNTIL OPEC MEETING.

  • The campaign had several twists, including the resignation of the hedge fund's main target: Arconic's ex-CEO Klaus Kleinfeld. Kleinfeld was forced to resign after sending a threatening letter to Elliott's founder, Paul Singer, that Arconic's board did not approve. The activist investor supported one of Arconic's nominees, board member Ulrich Schmidt.

  • BOSTON, May 22- A Massachusetts hedge fund manager has been arrested and accused of misappropriating millions of dollars from investors and engaging in a Ponzi-like scheme, U.S. authorities said. Yasuna Murakami, who managed Cambridge, Massachusetts- based MC2 Capital Management LLC, was arrested in Vermont on Saturday and charged in a criminal complaint with...

  • ATHENS, Greece— Authorities in Greece say unidentified thieves are stealing vital medical diagnostic equipment from the country's austerity-battered hospitals. Last week, similar equipment worth some 400,000 euros was stolen from an Athens state cancer hospital. Greece's state health system has been hit hard by deep spending cuts imposed under the...

  • *Euro zone may agree to new loans for Greece after reforms passed. BRUSSELS, May 22- Euro zone finance ministers may agree on Monday to release new loans to Greece but are likely to struggle to convince the International Monetary Fund to join the bailout by keeping the prospect of debt relief for Athens highly conditional. Greece needs new cash from the euro zone to...

  • SAO PAULO, May 22- Brazilian asset manager JGP Gestão de Recursos Ltda denied on Monday it had early knowledge of allegations that set off a political firestorm last week, when several of its funds posted gains on a day when most domestic investors suffered heavy losses. JGP's three cross-asset funds yielded returns between 1 percent and 3.3 percent on...

  • *Clariant CEO takes chairman role, Peter Huntsman CEO job. ZURICH/ FRANKFURT, May 22- U.S.-based Huntsman Corp and Switzerland's Clariant AG are combining to create a chemical manufacturer with a market value of about $14 billion, the deal coming together after years of tentative mutual approaches. European businesses have particularly suffered, losing...

  • *Iraq has so far insisted on extending OPEC cuts by 6 months. BAGHDAD/ VIENNA, May 22- Saudi energy minister Khalid al-Falih paid a rare visit to Iraq on Monday in the latest effort by the top oil producer to convince its fellow OPEC member to extend supply cuts for a further nine months to ease the global glut and prop up prices. The Organization of the Petroleum...

  • WASHINGTON— The Supreme Court is making it easier for companies to defend themselves against patent infringement lawsuits. The case involved an appeal from TC Heartland, an Indiana- based food sweetener company sued by Kraft Foods in Delaware. Lower courts refused to transfer the case to Indiana.

  • *Defense stocks rise on Saudi Arabia arms deal. May 22- Wall Street was higher in late morning trading on Monday, boosted by technology shares and as defense stocks rose after a multi-billion dollar arms deal between the United States and Saudi Arabia. President Donald Trump visited Saudi Arabia over the weekend and sealed $110 billion in deals in which Riyadh...

  • NEW YORK, May 22- U.S. The U.S. Treasury Department planned to sell a combined sum of $88 billion in two-year, five-year and seven-year debt ahead of the Memorial Day holiday weekend. They announced seven investment-grade deals and seven junk bond offerings on Monday, according to IFR, a Thomson Reuters unit.

  • WASHINGTON, May 22- The U.S. Supreme Court on Monday tightened rules for where patent lawsuits can be filed in a decision that may make it harder for so-called patent "trolls" to launch sometimes dodgy patent cases in friendly courts, a major irritant for high-tech giants like Apple and Alphabet Inc's Google. The dispute began when Heartland, a subsidiary of...

  • President Donald Trump's alleged links to Russia and his firing of former FBI chief James Comey raised concerns about his ability to push through promised fiscal stimulus. U.S. stocks gained on Monday, but yields edged lower and the dollar plunged to a six-month low when the euro rallied after German Chancellor Angela Merkel said it was "too weak" for Germany.

  • DUBLIN, May 22- The overwhelming favourite to succeed Enda Kenny as Irish prime minister said on Monday he wants a less ambitious debt reduction target than the one set last year, in order to free up more funding for infrastructure projects. However, Leo Varadkar, who has built up a near insurmountable lead ahead of the June 2 contest to succeed Kenny, according to...

  • May 22- Shares of Puma Biotechnology Inc surged about 80 percent on Monday after the U.S. Food and Drug Administration staffers concluded after a preliminary review that the company's experimental breast cancer drug was effective. The FDA has scheduled an advisory committee meeting on May 24 to discuss the company's breast cancer drug.