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Wires

  • LONDON, May 25- The dollar was on the defensive on Thursday, with investors low on incentives to buy the greenback after the Federal Reserve dialled down some expectations that it would hike interest rates soon, while the euro began to climb back towards a 6-1/ 2- month high. The minutes were seen to indicate heightened Fed caution towards interest rate hikes and...

  • WASHINGTON— President Donald Trump's proposal to sell nearly half the U.S. emergency oil stockpile is sparking renewed debate about whether the Strategic Petroleum Reserve is still needed amid an ongoing oil production boom that has seen U.S. imports drop sharply in the past decade. The petroleum reserve, created in the wake of the 1970 s Arab oil embargo,...

  • *Deeper OPEC, non- OPEC cuts seen unlikely. *OPEC to meet after 0820 GMT, non- OPEC to join after 1320 GMT. OPEC's de facto leader, Saudi Arabia, and top non- OPEC producer Russia have said cuts need to be extended to speed up market rebalancing and prevent oil prices from sliding back below $50 per barrel.

  • VIENNA— OPEC and other oil producers appear set to extend production cuts in an effort to shore up prices. Non- OPEC countries led by Russia chipped in with another 600,000- barrel reduction. That deal is due to expire end of June and is likely to be extended at Thursday's meeting of OPEC and non- OPEC ministers.

  • *UK, other regulators likely to use code in legal oversight. LONDON, May 25- Regulators and leading financial firms launched a new code of conduct for global currency trading on Thursday, including measures aimed at ensuring its universal adoption by the world's major financial institutions. The code is a central element of the foreign exchange industry's...

  • LONDON, May 25- Borrowing costs across the euro area fell on Thursday on further signs that major central banks are wary of stepping back from ultra-loose monetary policies too quickly. Bank of Japan board member Makoto Sakurai meanwhile on Thursday ruled out the chance of an imminent hike in the central bank's bond yield target, stressing the need to maintain...

  • *OPEC, other producers meet on Thursday to discuss output cut. *Rising U.S. output threatens to undermine OPEC- led cuts. LONDON, May 25- Oil prices rose on Thursday ahead of an OPEC meeting expected to extend production cuts into 2018 in an attempt to drain a global glut that has depressed markets for almost three years.

  • DHAKA, May 25- Bangladesh will speed up plans to import rice that it brought in to build reserves and rein in local prices after flash floods hit domestic output, government officials said on Thursday. Ramped up demand from Bangladesh, the world's fourth-biggest rice producer, could underpin prices in major exporters Vietnam, Thailand and India.

  • DHAKA, May 25- Bangladesh will speed up plans to import rice that it brought in to build reserves and rein in local prices after flash floods hit domestic output, government officials said on Thursday. Ramped up demand from Bangladesh, the world's fourth-biggest rice producer, could underpin prices in major exporters Vietnam, Thailand and India.

  • DHAKA, May 25- Bangladesh will speed up plans to import rice that it brought in to build reserves and rein in local prices after flash floods hit domestic output, government officials said on Thursday. Ramped up demand from Bangladesh, the world's fourth-biggest rice producer, could underpin prices in major exporters Vietnam, Thailand and India.

  • DHAKA, May 25- Bangladesh will speed up plans to import rice that it brought in to build reserves and rein in local prices after flash floods hit domestic output, government officials said on Thursday. Ramped up demand from Bangladesh, the world's fourth-biggest rice producer, could underpin prices in major exporters Vietnam, Thailand and India.

  • LONDON, May 25- European shares clung on to gains in early deals on Thursday helped by firmer banking shares and as corporate deals activity, after French aero firms Safran and Zodiac finally striking a deal, continued apace. The pan-European STOXX 600 index rose 0.1 percent, on track for a third straight day of gains, helped by a rise among banks.

  • *Deeper OPEC, non- OPEC cuts seen unlikely. *OPEC, non- OPEC to send message their cooperation will last. OPEC's de facto leader, Saudi Arabia, and top non- OPEC producer Russia have said cuts need to be extended to speed up market rebalancing and prevent oil prices from sliding back below $50 per barrel.

  • *Deeper OPEC, non- OPEC cuts seen unlikely. *OPEC, non- OPEC to send message their cooperation will last. OPEC's de facto leader, Saudi Arabia, and top non- OPEC producer Russia have said cuts need to be extended to speed up market rebalancing and prevent oil prices from sliding back below $50 per barrel.

  • *Deeper OPEC, non- OPEC cuts seen unlikely. *OPEC, non- OPEC to send message their cooperation will last. OPEC's de facto leader, Saudi Arabia, and top non- OPEC producer Russia have said cuts need to be extended to speed up market rebalancing and prevent oil prices from sliding back below $50 per barrel.

  • *Deeper OPEC, non- OPEC cuts seen unlikely. *OPEC, non- OPEC to send message their cooperation will last. OPEC's de facto leader, Saudi Arabia, and top non- OPEC producer Russia have said cuts need to be extended to speed up market rebalancing and prevent oil prices from sliding back below $50 per barrel.

  • HARRISBURG, Pa.— Nathan Singletary is beyond the traditional retirement age, but he's only just beginning a new career— helping other low-income, unemployed Americans over age 55 find jobs. This week, he proposed deleting the $434 million program from the federal budget— a strike at a piece of President Lyndon Johnson's "war on poverty." "That would mean a great deal of...

  • *Spot gold seen retesting resistance at $1,264 per ounce- technicals. May 25- Gold held steady on Thursday to keep most of its gains from the previous session, with the dollar slipping after minutes of the U.S. Spot gold was nearly flat at $1,257.90 per ounce by.

  • SHANGHAI, May 25- China stocks rebounded sharply on Thursday, as the blue-chip CSI300 index posted its best day in 21 months amid growing hopes that global index provider MSCI Inc will add mainland shares to its benchmark next month. Investors appear to have shrugged off Moody's downgrade of China's credit rating on Wednesday, after several senior government...

  • TOKYO, May 25- Japanese government bonds slipped on Thursday, with the yield curve steepening as superlong bonds sold off after an uninspiring 40- year auction. The Ministry of Finance offered 500 billion yen of 40- year JGBs with a 0.9 percent coupon, up from 0.4 percent at the previous sale to reflect market levels. BOJ board member Makoto Sakurai, among the...