Wires

  • FRANKFURT, Germany— Carmakers are finding the Paris auto show, held in a city whose mayor wants to ban diesels to reduce pollution, as a fine place to show off new zero-emission electric vehicles. And Daimler AG's Mercedes-Benz will unveil a luxury electric SUV aimed at warding off competition from, among others, all-electric upstart Tesla.

  • ALGIERS, Sept 27- Saudi Arabia and Iran on Tuesday dashed hopes that OPEC oil producers could clinch an output-limiting deal in Algeria this week as sources said the group and non-member Russia were still trying to bridge differences between the kingdom and Tehran. We will consult with everyone else, we will hear the views, we will hear the secretariat of OPEC and...

  • GENEVA, Sept 27- British trade minister Liam Fox promised on Tuesday that Britain's departure from the European Union would not create a legal vacuum at the World Trade Organization, and said his country was determined to champion free trade. Britain is a full and founding member of the WTO, but its WTO membership terms are currently shared with the rest of the EU,...

  • *Shares fall as much as 4.7 pct, stock top FTSE 100 loser. Sept 27- Heating and plumbing products supplier Wolseley plans to close just over 10 percent of its UK branches in response to tough competition and weak trading, it said on Tuesday, a move that could lead to up to 800 job losses and create a more U.S.-focused firm. Wolseley, which makes about 80 percent of its...

  • BERLIN— Deutsche Bank shares are down further after German Chancellor Angela Merkel gave no indication that her government might help the group with a U.S. demand for a $14 billion legal settlement. Deutsche Bank shares fell another 2.9 percent to 10.22 euros and are off more than 50 percent for the year as the bank struggles with weak profits and investor...

  • WASHINGTON— U.S. home prices rose modestly in July, pulled up by strong gains in Portland, Seattle and Denver, a private index says. Prices rose 12.4 percent in Portland, 11.2 percent in Seattle and 9.4 percent in Denver. The Commerce Department reported Monday that new home sales fell 7.6 percent in August, slowing after a 13.8 percent surge in July.

  • Sept 27- Wall Street was set to open higher for the first time in three days on Tuesday as investors saw Hillary Clinton as the winner of the first presidential debate with Donald Trump. With just over six weeks until Election Day, some investors see a toss-up contest creating volatility in certain sectors, including health insurers, drugmakers and industrials.

  • MOSCOW, Sept 27- Russia needs three to five years to create a robustly operating and well capitalised banking system without criminal activity and misleading accounting, Deputy Central Bank Governor Vasily Pozdyshev said. The clean-up has continued even as rescues of some large banks, such as Uralsib or Vnesheconombank, were conducted when Russia fell into...

  • The U.S. Food and Drug Administration has already approved Kyprolis for patients with relapsed or refractory multiple myeloma who have previously undergone one or more treatments. Kyprolis is the only approved therapy in the United States for relapsed multiple myeloma, and can be used as a single agent, doublet or triplet combination. It generated $172...

  • LANSING, Mich. _ Neogen Corp. on Tuesday reported fiscal first-quarter profit of $9.9 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share. Three analysts surveyed by Zacks expected $86 million.

  • *Oil tries to hold latest bounce as OPEC talk swirls. LONDON, Sept 27- Worries about Europe's banks wrenched stocks into reverse on Tuesday and halted a surge in Mexico's peso that followed Democrat Hillary Clinton's victory over Republican Donald Trump in the first U.S. presidential debate. Europe's mood soured as Deutsche Bank shares hit another record low on...

  • LONDON, Sept 27- Three months after Britain's vote to leave the European Union, fears in currency markets of a "hard Brexit" that would drive an exodus of banks from London have knocked sterling to within sight of its weakest levels in decades. That broadly reflects shifts in expectations of how the economy will deal with the fallout from talks that may deprive...

  • The Las Vegas- based company's main operating unit, Caesars Entertainment Operating Co Inc, filed for bankruptcy in January 2015. The deal still needs approval from the U. S Bankruptcy Court in Chicago. Under the agreement, Caesars and its private equity owners, Apollo Global Management and TPG Capital Management, offered junior creditors an increased recovery...

  • Sept 27- Chesapeake Energy Corp said on Tuesday that two board directors, including a representative of activist investor Carl Icahn, resigned on Monday, a week after Icahn more than halved his stake in the natural gas producer. John Lipinski, who has been on Chesapeake's board since June 2014, and Vincent Intrieri stepped down on Monday, the company said.

  • FRANKFURT, Sept 27- Deutsche Bank shares hit a record low on Tuesday and state-backed lender NordLB scrapped plans for a 500 million euro bond sale, underlining investor concern about the health of the financial industry in Europe's largest economy. The decision by NordLB to shelve the bond issue because of a lack of demand came a day after Deutsche, Germany's...

  • SINGAPORE, Sept 27- The head of Goldman Sachs' investment banking division in Southeast Asia, Michael Smith, is set to leave the bank, two people familiar with the matter said on Tuesday. Based in Singapore, Smith is a partner at Goldman and also heads the bank's Asian real estate investment banking team. In 2015, Goldman reduced the number of its investment bankers...

  • LONDON, Sept 27- Nickel prices hit seven-week highs on Tuesday as worries about tight supplies were reinforced by the Philippine government recommending more mines for suspension over alleged environmental violations. Benchmark nickel on the London Metal Exchange traded up 2.7 percent at $10,825 a tonne in official rings, off an earlier session high at...

  • LONDON, Sept 27- British retail sales fell unexpectedly this month after a strong showing in August, according to a survey published on Tuesday, contrasting with robust figures since June's vote to leave the European Union. The Confederation of British Industry said its retail sales balance dropped to -8 in September from a six-month high of +9 in August.

  • GRANGEMOUTH, Scotland, Sept 27- Britain's first shale gas delivery from the United States sailed into a heated European political debate on fracking on Tuesday and immediately ran into its first practical problem- the Scottish weather. Ineos is importing ethane, obtained from rocks fractured at high pressure, or "fracking", in a foretaste of larger deliveries of...

  • LAGOS, Nigeria— Shell says a fire has forced it to close a key oil pipeline feeding Nigeria's strategic Bonny Export Terminal, which militants attacked last week. The ongoing challenges are losing oil multinationals billions of dollars in what used to be Africa's biggest petroleum producer. SBM Intelligence risk analysts estimate that renewed militant...