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Wires

  • MELBOURNE, Feb 21- London copper slipped on Tuesday as the dollar pushed ahead, but ongoing supply concerns from industrial action in Chile and an Indonesian export permit dispute underpinned prices. Three-month copper on the London Metal Exchange slipped by 0.5 percent to $6,036.50 a tonne by 0720 GMT, paring gains after a 1.9 percent rally in the previous...

  • BEIJING— China's commerce minister has appealed to Washington to negotiate disputes with Beijing and avoid a "trade war" that he warned would hurt both sides. He appealed to Washington to "properly solve" disputes through "dialogue and cooperation. He also promised to declare Beijing improperly manipulated the exchange rate of its yuan to give its exporters a...

  • *Toshiba urged by banks to sell majority of chip unit- sources. TOKYO, Feb 21- Japan's Toshiba Corp wants to raise at least 1 trillion yen by selling most of its flash memory chip business, seeking to create a buffer for any fresh financial problems, a source with direct knowledge of the matter said. The beleaguered conglomerate's decision to abandon an initial plan...

  • TOKYO, Feb 21- Crude futures rose for a second day on Tuesday, with data showing hedge funds are betting big across oil markets following OPEC production cuts agreed last year. West Texas Intermediate crude was up 34 cents, or 0.6 percent, at $53.74 a barrel at 0733 GMT, after rising about 0.5 percent in a shortened session on Monday due to a U.S. national holiday.

  • *Potential buyers to be tapped in India, Japan, Middle East. SINGAPORE/ NEW DELHI/ BEIJING, Feb 21- China's Sinochem is exploring the sale of its 40 percent stake in Brazil's Peregrino offshore oilfield, four people familiar with the matter told Reuters, a deal that could see the state-owned conglomerate walk away what was once touted as a key overseas asset because...

  • SINOCHEM BOUGHT STAKE FROM NORWAY'S STATOIL FOR $3.07 BLN IN DEAL AGREED IN 2010.

  • EXCLUSIVE- CHINA'S SINOCHEM EXPLORING SALE OF 40 PCT STAKE IN BRAZIL'S PEREGRINO OILFIELD- SOURCES.

  • SINOCHEM LOOKING TO REJIG ENERGY ASSETS IN CHALLENGING INDUSTRY ENVIRONMENT- SOURCES.

  • Feb 21- InterContinental Hotels Group Plc, one of the world's largest hoteliers, reported a slightly better-than-expected yearly profit rise and said it would return $400 million to investors via a special dividend and share consolidation. IHG, which runs hotels under brands such as Crowne Plaza, Holiday Inn and InterContinental, posted a 4 percent rise in...

  • LONDON, Feb 21- Outsourcing group Capita, under pressure from a slowdown in demand from customers, said it had written off the value of a number of historic contracts but was otherwise trading in line with the guidance it gave in December. Capita, which downgraded profit forecasts twice in three months at the end of 2016, said on Tuesday assets amounting to around...

  • SHANGHAI, Feb 21- China stocks extended gains on Tuesday to close at a near three-month high, as expectations for big flows into stock markets from pension funds continued to improve risk appetite. "Pension funds will be the biggest source of incremental capital in the near future, and they would surely pick shares of industry bellwethers and consequently boost...

  • DENVER— Instrument-laden aircraft are surveying the Colorado high country this month as scientists search for better ways to measure how much water is locked up in the world's mountain snows— water that sustains a substantial share of the global population. A NASA- led experiment called SnowEx is using five aircraft to test 10 sensors that might one day be used...

  • HONG KONG/ LONDON, Feb 21- HSBC Holdings reported a 62 percent slump in annual pre-tax profit that fell way short of analysts' estimates as the British bank took hefty writedowns from its restructuring, sending its Hong Kong shares down 3.5 percent. The 2016 profit reflected a $3.2 billion impairment of goodwill in its global private banking business in Europe...

  • TOKYO, Feb 21- Japanese government bonds edged lower on Tuesday, taking their cue from higher U.S. U.S. markets were closed for the Presidents' Day holiday on Monday. The 30- year JGB yield rose 0.5 bp to 0.920 percent, matching its highest level since February 2016 logged in the previous session, while the 20- year yield was flat at 0.705 percent.

  • TOKYO, Feb 21- Japanese government bonds edged lower on Tuesday, taking their cue from higher U.S. U.S. markets were closed for the Presidents' Day holiday on Monday. The 30- year JGB yield rose 0.5 bp to 0.920 percent, matching its highest level since February 2016 logged in the previous session, while the 20- year yield was flat at 0.705 percent.

  • TOKYO, Feb 21- Japanese stocks rose on Tuesday as the weaker yen helped overall sentiment, while the paper sector outperformed on a report that a major producer intends to raise printing paper prices. Trading volumes were low, however, as a holiday in the United States on Monday left investors short of the usual leads. The paper& pulp sector soared 3.8 percent and was...

  • SYDNEY, Feb 21- Mining giant BHP Billiton rewarded shareholders with a bigger than expected dividend on Tuesday, signaling its growing confidence amid a resurgence in commodity prices. The world's biggest miner reported a near eight-fold rise in underlying first-half net profit to $3.24 billion from $412 million a year earlier, just missing market...

  • SYDNEY, Feb 21- Australia is expected to raise at least A $8 billion in a new bond offer, two fund managers said, a month after the government sold a record A $9.3 billion issue. The Australian Office of Financial Management, the federal government's funding agency, launched a 12- year issue on Tuesday with a margin of 13.5 basis points to 16.5 basis points over the...

  • KUWAIT CITY— Kuwait's first new government hospital in more than three decades will soon open its doors— but only to Kuwaiti citizens. It will be the first government hospital built in Kuwait since 1984, taking some pressure off an overburdened public health system. U.S. ally Kuwait, like other oil-rich Persian Gulf states, has for decades offered a free...

  • Joe Ready, head of Wells Fargo's institutional retirement plan business, for example, told trustees of the city of San Diego's defined contribution plan that participants' $1 billion in assets were walled off from other parts of Wells Fargo. San Diego pension officials declined to comment for this story. Wells Fargo declined to make Ready available and said it...