Wires

  • *Wheat falls, market under pressure as Australia eyes record crop. Wheat eased, snapping two sessions of gains as Australia forecast production of the grain would hit an all-time high, while soybeans rose for a second day on support from strong demand. The Chicago Board of Trade most-active corn contract had fallen 0.4 percent to $3.57-3/ 4 a bushel by 0342 GMT,...

  • HONG KONG, Dec 6- China's yuan rose to the highest level in nearly three weeks against the U.S. dollar on Tuesday, led by the central bank's stronger fix as authorities took the opportunity of a weaker greenback to consolidate efforts to support its battered currency. The People's Bank of China set the midpoint rate at 6.8575 per dollar prior to market open, 0.43...

  • Still, the head of the GS Group, one of the nine conglomerate bosses summoned to appear at the unprecedented televised hearing, acknowledged that it was hard to say no to the government. "It's a South Korean reality that if there is a government request, it is difficult for companies to decline," said Huh Chang- soo, who heads the energy-to-retail GS Group and is also...

  • By Se Young Lee and Joyce Lee. Still, the head of the GS Group, one of the nine conglomerate bosses summoned to appear at the unprecedented televised hearing, acknowledged that it was hard to say no to the government. "It's a South Korean reality that if there is a government request, it is difficult for companies to decline," said Huh Chang- soo, who heads the...

  • BEIJING, Dec 6- China's rising corporate leverage underscored the urgent need to accelerate market-oriented reforms, a U.S. Nathan Sheets, the Under Secretary of the Treasury for International Affairs, said that China's non-financial corporate sector debt- at about 145 percent of gross domestic product- is among the highest for major economies, citing data...

  • BANGKOK— An apple a day kept the doctor away— but now in Asia, a cup of milk might do the trick. Milk and other dairy products have become an unexpected ally in the fight against Asia's newest dietary challenges: obesity, and vitamin and mineral deficiencies, according to a report by the U.N. Food and Agriculture Organization released Tuesday. With greater political...

  • TOKYO, Dec 6- Japan's Nikkei share average rebounded on Tuesday as strong U.S. economic data helped offset worries about instability in the European Union after Italian Prime Minister Matteo Renzi's resignation. Japanese stocks have climbed around 7 percent since the U.S. election last month, fueled by expectations of significant economic stimulus and cuts...

  • SYDNEY, Dec 6- U.S. corn futures dipped on Tuesday, edging down from a more than four-month high touched in the previous session, as abundant global supplies offset support from strong cash markets and better-than-expected demand for U.S. stocks. *The most active corn futures on the Chicago Board Of Trade fell 0.4 percent to $3.58 a bushel, having gained 3.5 percent...

  • Treasury Secretary Jack Lew on Monday asking for the acquisition of U.S. chip maker Lattice Semiconductor Corp by a fund with ties to China's government to be blocked over security concerns. The letter follows a Reuters report last week that revealed that Canyon Bridge Capital Partners, the buyout fund that agreed to acquire Lattice for $1.3 billion, is funded...

  • SEOUL, Dec 6- The heads of South Korea's top conglomerates including the Samsung and Lotte Groups were questioned on Tuesday in an unprecedented parliamentary hearing into the political scandal that appears poised to bring down President Park Geun-hye. Samsung Group leader Jay Y. Lee, who sat at the centre of the witness table, said Park had asked him during a...

  • SEOUL, South Korea— It's a rare moment of public reckoning for South Korea's most powerful business leaders, courtesy of the country's biggest political scandal in years. Usually cloistered executives from Samsung, Hyundai Motor and six other companies faced grilling Tuesday as lawmakers looked into their links to prosecution claims that South Korean...

  • HONG KONG, Dec 6- Asian stocks posted their biggest rise in two weeks on Tuesday and the euro steadied as investors judged the selloff after Italy's referendum was overdone, with robust U.S. economic data also helping sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan bounced 0.8 percent, its biggest daily rise since Nov. 22, breaking two days...

  • SAO PAULO, Dec 5- The Brazilian real strengthened on Monday on traders' relief that weekend demonstrations refrained from directly targeting President Michel Temer, after the currency hit its lowest level since June last week. Demonstrators protested across Brazil on Sunday to denounce corruption and a congressional vote seen as an attempt to curtail...

  • BRASILIA, Dec 5- Brazil's Supreme Court on Monday removed Senator Renan Calheiros as president of the Senate after the top court indicted him last week on charges of embezzlement, a court spokesman said, a move that could put the government's belt-tightening agenda in peril. The head of the Senate is the second in line after the speaker of the lower house, as Brazil...

  • SINGAPORE, Dec 6- London zinc rose for a second session on Tuesday, underpinned by weakness in the dollar, although copper eased after notching its biggest one-day gain in nearly a month in the previous session. *Three-month zinc on the London Metal Exchange gained 1.1 percent $2,797 a tonne by 0133 GMT, while the most-traded contract on Shanghai Futures Exchange...

  • BEIJING, Dec 6- China's rising corporate leverage underscores the urgency for the country to accelerate its market-oriented reforms, the U.S. The United States should continue to engage constructively with China to support China's reform agenda, said Nathan Sheets, the Under Secretary of the Treasury for International Affairs. Sheets made the remarks in...

  • SACRAMENTO, Calif., Dec 5- Lawmakers in Democrat-controlled California are already laying the groundwork to fight President-elect Donald Trump's conservative populist agenda. "Immigrants are a part of California's history, our culture, and our society," said Assembly Speaker Anthony Rendon, a Democrat from Los Angeles, responding to Trump's calls to deport...

  • SACRAMENTO, Calif., Dec 5- Lawmakers in Democrat-controlled California are already laying the groundwork to fight President-elect Donald Trump's conservative populist agenda. "Immigrants are a part of California's history, our culture, and our society," said Assembly Speaker Anthony Rendon, a Democrat from Los Angeles, responding to Trump's calls to deport...

  • SACRAMENTO, Calif., Dec 5- Lawmakers in Democrat-controlled California are already laying the groundwork to fight President-elect Donald Trump's conservative populist agenda. "Immigrants are a part of California's history, our culture, and our society," said Assembly Speaker Anthony Rendon, a Democrat from Los Angeles, responding to Trump's calls to deport...

  • SACRAMENTO, Calif., Dec 5- Lawmakers in Democrat-controlled California are already laying the groundwork to fight President-elect Donald Trump's conservative populist agenda. "Immigrants are a part of California's history, our culture, and our society," said Assembly Speaker Anthony Rendon, a Democrat from Los Angeles, responding to Trump's calls to deport...