Wires

  • BERLIN, Sept 30- Once cultivated by Persian kings and believed to have healing powers, saffron is now fuelling the growth of a small German business that imports tons of the spice from Iran to make fine food products for sale in Europe and the Gulf. Economy Minister Sigmar Gabriel heads to Iran next week with a planeful of executives keen to rebuild trade ties.

  • *U.S. corn stocks from Sept. 1 miss average analyst estimate. CHICAGO, Sept 30- U.S. corn futures jumped on Friday as government crop data signalled that livestock producers had not cut back on feeding the grain in favour of wheat, as some traders had expected. The U.S. Department of Agriculture, in a quarterly crop report, said 1.738 billion bushels of corn were in...

  • SOCHI, Russia, Sept 30- Russia has decided to reopen the privatisation of mid-size oil firm Bashneft and will not stop the country's largest crude company Rosneft from taking part in the sale, First Deputy Prime Minister Igor Shuvalov said on Friday. Shuvalov, speaking to journalists on the sidelines of a business forum in the Russian Black Sea Resort of Sochi,...

  • NEW YORK, Sept 30- U.S. oil drilling has seen its best quarter since crude prices tumbled two years ago mainly due to small operators returning to the well pad, but analysts say the continued recovery in the rig count depends on whether OPEC's output reduction plan can bring the market back to $50 a barrel. "Given oil's move from $50 to $45, this likely hit the cash flows...

  • Sept 30- U.S. drillers in the third quarter added the most oil rigs of any quarter since 2014, according to a closely followed report on Friday, but the pace of additions has slowed as crude holds below $50 a barrel despite OPEC's first plan in eight years to cut output. More than two-thirds of those rigs, or 67, were placed in the Permian basin in west Texas and eastern...

  • BMW confirmed a report earlier Friday by Bloomberg News. Reuters reported on Sept. 9 that top BMW executives were skipping Paris auto show events this week to resolve differences over electric vehicle strategy and chart a new electric product offensive, including a possible electric Mini. BMW faces increasing pressure from German rivals Daimler AG and...

  • NEW YORK, Sept 30- Oil prices were on track for their largest weekly advance in more than a month on Friday, supported by planned OPEC output cuts, but profit-taking after a two-day rally kept benchmark crude contracts below the key $50- per-barrel mark. Both Brent and U.S. crude's West Texas Intermediate futures showed gains of 7 percent or more on the week after the...

  • *OPEC supply rises by 70,000 bpd to 33.60 million bpd. LONDON, Sept 30- OPEC's oil output is likely to reach its highest in recent history in September, a Reuters survey found on Friday, as Iraq boosted northern exports and Libya reopened some of its main oil terminals. Supply from OPEC has risen to 33.60 million barrels per day in September from a revised 33.53...

  • CHICAGO— The man who got generations of hot dog lovers humming along to the Oscar Mayer Weiner song has died. An obituary posted online by a northern Illinois funeral home says Richard Trentlage died on Sept. 21 at age 87.. With the words, "Oh, I wish I were an Oscar Mayer wiener," Trentlage helped solidify the company's hot dogs as a piece of Americana.

  • Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia said that she was mulling hearing separately about the effect of the merger on the national market in one phase and on local markets in a second phase with a potential decision after the first set of arguments. The Justice Department argues that the deal would reduce competition and...

  • *Deutsche Bank nears $5.4 bln settlement with DOJ- AFP. Sept 30- Wall Street rallied on Friday as a bounce in Deutsche Bank shares powered financial stocks. The stock had lost more than 22 percent in the past two weeks after the U.S. Department of Justice demanded $14 billion from the German lender to settle the charges.

  • Sept 30- U.S. drillers in the third quarter added the most oil rigs of any quarter since 2014, according to a closely followed report on Friday, but the pace of additions has slowed as crude holds below $50 a barrel despite OPEC's first plan in eight years to cut output. RIG-OL-USA- BHI> For the quarter, they added 95 rigs, the most since drillers added 105 rigs in the...

  • SAO PAULO, Sept 30- Latin American currencies strengthened on Friday on reports Deutsche Bank is close to reaching an accord with U.S. officials to settle charges related to its sale of toxic mortgage bonds before the financial crisis. Concerns over the financial health of Germany's largest lender sent investors scurrying for safer assets earlier this week.

  • *Nissan gives Brexit ultimatum to Britain over investment. *Investors concerned Britain may end up with' hard Brexit'. The June 23 Brexit vote took many investors and chief executives by surprise, triggering the deepest political and financial turmoil in Britain since World War Two and the biggest ever one-day fall in sterling against the dollar.

  • MEXICO CITY, Sept 30- Mexico's central bank chief said on Friday that a Donald Trump victory in the U.S. presidential election would hit Mexico like a hurricane. Carstens added that the scenario for Mexico was better with a Clinton win in the Nov. 8 presidential election. The United States is Mexico's main trading partner, and Wall Street analysts say concern over...

  • LONDON, Sept 30- European shares closed higher on Friday, lifted by a late surge in Deutsche Bank after a media report that it was close to settling with U.S. authorities over alleged misselling of mortgage-backed securities. Traders cited a report by Agence France Presse that Deutsche Bank was near a $5.4 billion settlement with U.S authorities over the...

  • YENAGOA, Nigeria Sept 30- Crude oil production at Nigeria's Warri refinery has not been affected by an explosion heard near the site, the country's oil labour union said on Friday.

  • BILLINGS, Mont.— In a story Sept. 29 about cell phones in national parks, The Associated Press reported erroneously how a bill in the U.S. House would affect rental fees on telecommunications facilities. Cellphones spill into Yellowstone's wilds despite park plan. Signal coverage maps for two of Yellowstone's five cellphone towers show calls can now be received...

  • NEW YORK, Sept 30- Oil prices were on track to their largest weekly advance in more than month on Friday, supported by planned OPEC output cuts, but profit-taking after a two-day rally kept benchmark crude contracts below the key $50 per barrel mark. Both Brent and U.S. crude's West Texas Intermediate futures showed gains of 7 percent or more on the week after the...

  • FRANKFURT/ LONDON, Sept 30- A report that Deutsche Bank was close to a cut-price settlement with U.S. authorities over the sale of toxic mortgage bonds helped to fuel a recovery in its shares on Friday after its chief executive said the group remained stable. Deutsche, which is Germany's largest bank and employs around 100,000 people, has been engulfed by crisis...