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Wires

  • SHANGHAI— In a story April 22, The Associated Press reported that General Motors Co. expects annual sales of electric vehicles to reach 150,000 by 2020 and possibly surpass 500,000 by 2025.

  • *China's draft securities law to tighten regulation. *MSCI World index hits record high overnight. China's blue-chip CSI300 index rose 0.5 percent, to 3,447.10 points by the lunch break, while the Shanghai Composite Index gained 0.4 percent to 3,142.67 points.

  • SHANGHAI, April 25- China's yuan weakened slightly in subdued trade against the dollar by midday on Tuesday, with the market watching developments on the Korean peninsula. The People's Bank of China set the midpoint rate at 6.8833 per dollar prior to market open, weaker than the previous fix of 6.8673. President Donald Trump said on Monday the U.N. Security...

  • Bullion prices fell about 0.7 percent in the previous session after touching $1,265.90 an ounce, the lowest since April 11, following the first round of France's presidential election that indicated less support for far-right candidate Marine LePen. Still, analysts said safe-haven demand for gold remained strong amid the tensions over North Korea's...

  • SINGAPORE, April 25- Chicago soybeans lost ground on Tuesday with the market falling from last session's three-week high as rapid U.S. planting weighed on the market. The Chicago Board Of Trade most-active soybean contract fell 0.4 percent to $9.68 a bushel by 0336 GMT. "The crop report released by the U.S. Department of Agriculture showed corn and soybean...

  • TOKYO, April 25- Japan's Toshiba Corp will start taking bids for Landis+ Gyr, its Swiss smart meter unit, as early as June, Kyodo news agency reported on Tuesday. Hitachi Ltd and other Japanese firms are seen as possible bidders for the unit, Kyodo said, without citing sources. Reuters last month reported that Toshiba had hired UBS to explore a sale or an initial public...

  • JACKSONVILLE, Fla.— Wells Fargo's top management and board of directors will face irritated investors Tuesday for the first big shareholder meeting since the scandal over the bank's sales practices led to an executive shake-up, fines and a dented reputation. CEO Tim Sloan, who got that job in October, has repeatedly talked of making things right with customers.

  • A dozen of the 15 directors on the ballot face negative recommendations from influential proxy adviser Institutional Shareholder Services, which argued the group, including Chairman Stephen Sanger, failed in their oversight duties. But in practice, directors who win with less than 80 percent support should consider exiting the board, said Charles Elson, a...

  • SAO PAULO— Grinning in front of the camera, the former CEO of the huge Brazilian builder at the center of the world's biggest corruption scandal spoke frankly about the billions in bribes and illegal financing that the Odebrecht company put into the pockets and campaign coffers of politicians and public officials. "All of this is institutionalized," Emilio...

  • *Funds selective, prefer north Asia to south, southeast Asia. The MSCI Asia ex- Japan index returned 12.8 percent in the first three months of 2017, the best first-quarter performance since 1991, as almost $17 billion of funds flowed into the region, excluding China and Malaysia. But they've returned a pittance since then, and flows slowed to only $563 million in...

  • *Asia ex- Japan, Nikkei post gains as market euphoria persists. *Oil up but limited by worries OPEC won't extend production curbs. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.35 percent to its highest level in more than three weeks, marking four straight days of gains.

  • West Texas Intermediate crude futures added 24 cents, or 0.5 percent, by 0305 GMT, but remained below the $50 mark pierced late last week, at $49.47 a barrel. Despite Tuesdays increases, market sentiment has turned bearish, with Brent down 10 percent since late 2016 despite efforts led by the Organization of the Petroleum Exporting Countries and Russia to cut...

  • *Investors relieved as North Korea takes no new missile steps. TOKYO, April 25- Japan's Nikkei share average retook the 19,000 level on Tuesday for the first time in three weeks, buoyed by Wall Street gains as well as relief that North Korea did not conduct another missile test to mark a military anniversary. "When the morning passed with nothing from North Korea, the...

  • Last year, a court in Canada's oil heartland of Alberta ruled that proceeds from the sale of assets belonging to privately held Redwater Energy Corp would go first to secured creditors, rather than toward cleaning up the company's inactive oil and gas wells. Alberta, which produces about 80 percent of Canada's crude, had more than 1,500 orphan wells in February,...

  • WASHINGTON— The Trump administration moved Monday to impose a 20 percent tariff on softwood lumber entering the United States from Canada, escalating an intensifying trade dispute between the two countries. On Twitter, Breitbart News White House correspondent Charlie Spiering quoted Trump as saying, "We're going to be putting a 20% tax on softwood lumber...

  • TAIPEI, April 25- Taiwan stocks rose on Tuesday, mainly taking cues from overseas markets, but continued their choppy trading as investors await fresh economic data. In Taiwan, the electronics subindex rose 0.6 percent, while the financials subindex gained 1.0. Taiwan will release its preliminary gross domestic product data for the first quarter on Friday,...

  • NEW LIMERICK, Maine— A Maine log truck has blown a tire, smashed into a guardrail and crashed into a ditch. Police say Thomas Feezell was operating a 2006 Western Star tractor-trailer. The state Department of Transportation and Department of Environmental Protection responded to the scene.

  • SYDNEY, April 25- Copper eased in Asia on Tuesday, coming under pressure from investors looking to book gains after a surprise overnight lift in the London contract following a market-friedly French presidential vote. "Copper gained some steam on the back of the French election, but that hasn't held up in Asia," said a Perth- based commodities trader.

  • Trump, in a private meeting with conservative media outlets, said he may wait until Republicans begin drafting the budget blueprint for the fiscal year that starts on Oct. 1 to seek government funds for building a wall along the U.S.- Mexico border, the White House confirmed. Trump, whose approval ratings have slid since he took office, is facing a Friday deadline...

  • WASHINGTON, April 24- The United States will impose preliminary anti-subsidy duties averaging 20 percent on imports of Canadian softwood lumber, Commerce Secretary Wilbur Ross said on Monday, escalating a long-running trade dispute between the two neighbors. Ross told Reuters in a telephone interview that Canada was "already retaliating" against the...