Wires

  • SEOUL, Jan 18- Samsung Group leader Jay Y. Lee arrived at a prosecutor's office in Seoul on Wednesday en route to a court hearing, where a judge will decide whether he should be arrested over his alleged role in a corruption scandal that has rocked South Korea. Lee, questioned last week for 22 straight hours at the prosecutor's office in Seoul, has denied wrongdoing.

  • HONG KONG, Jan 18- The British pound consolidated gains on Wednesday after posting its biggest rise in nearly two decades in the previous session, while Asian stocks are set to drift lower following a weak Wall Street. Sterling saw its biggest daily rise since at least 1998 on Tuesday as Prime Minister Theresa May promised a parliamentary vote on Britain's deal...

  • *Partial chip business stake could fetch $1.77- $2.66 bln- Nikkei. TOKYO, Jan 18- Toshiba Corp is looking to spin off its semiconductor business assets and sell a roughly 20 percent stake in the unit to Western Digital Corp for up to $2.7 billion, the Nikkei business daily reported on Wednesday. The Nikkei said one proposal calls for Toshiba to sell about a fifth in the...

  • SEOUL, Jan 18- Samsung Group scion Jay Y. Lee appeared at the special prosecutor's office on Wednesday en route to a court hearing where a judge will decide whether to issue an arrest warrant over his alleged role in a corruption scandal that has engulfed the administration of President Park Geun-hye. Lee did not answer reporters' questions as he made his way into...

  • The Saskatoon, Canada- based company said it expects to report a net loss for 2016 citing asset impairments resulting from fair market assessments at the end of the year. Cameco said it plans to reduce workforce at the McArthur River, Key Lake and Cigar Lake operations by 10 percent. "The current earnings expectations do... reflect the consequences of a continued...

  • Treasury and Health and Human Services called for fast congressional action to help Puerto Rico out of its economic mess, and said a bipartisan task force report failed to go far enough on recommending a low-income tax credit for the commonwealth. In a letter to U.S. House Speaker Paul Ryan on Tuesday, Treasury Secretary Jacob Lew and Health and Human Services...

  • CHARLOTTE, N.C.— North Carolina- based home improvement retailer Lowe's says it's told approximately 2,400 full-time workers that they will be laid off. Lowe's CEO Robert Niblock told employees in an email that the changes "will better align store staffing with customer demand, shift resources from back-of-the-store activities to customer-facing ones, and...

  • Jan 18- For other diaries, please see: Top Economic Events Polling unit diary Today in Washington Political and general news. DATE TIME COUNTRY AMOUNT AUCTION DETAILS. 18- Jan Japan 1- year discount bill auction 18- Jan Sweden Auction of Treasury bills 18- Jan Norway Auction of Government bonds 19- Jan Japan 3- month discount bill auction 19- Jan Japan Auction of...

  • WASHINGTON, Jan 17- General Motors Co on Tuesday confirmed it will invest an additional $1 billion in its U.S. factories in 2017 and will move some parts production from Mexico to the United States that was previously handled by a supplier. President-elect Donald Trump for building vehicles in Mexico that are imported into the United States.

  • DAVOS, Switzerland- Swedish Prime Minister Stefan Lofven and Swedish Finance Minister Magdalena Andersson will hold a press conference in Davos- 1400 GMT. Speakers include- Austrian National Bank Governor and ECB governing council member Ewald Nowotny, Macedonia National Bank Governor Dimitar Bogov, Czech National Bank Governor Jiri Rusnok, Slovakia...

  • DALLAS, United States- Federal Reserve Bank of Dallas President Robert Kaplan participates in a panel before the University of Texas at Austin 2017 Business Forecast- 1400 GMT. SAN FRANCISCO, United States- Federal Reserve Chair Janet Yellen speaks on "The Goals of Monetary Policy and How We Pursue Them" before the Commonwealth Club- 2000 GMT.

  • The settlement commits San Francisco- based McKesson Corp. to a multi-year suspension of sales of controlled substances from distribution centers in Colorado, Ohio, Michigan and Florida. The suspensions are among the most severe sanctions ever agreed to by a Drug Enforcement Agency- registered distributor, according to a statement by the U.S. Justice...

  • Jan 17- McKesson Corp, one of the largest U.S. distributors of pharmaceutical drugs, will pay a record $150 million to resolve a U.S. investigation into whether it failed to report suspicious orders of addictive painkillers. Tuesday's deal with the U.S. Justice Department followed an earlier settlement with the company over similar violations in 2008.

  • WASHINGTON, Jan 17- Danaher Corp co-founder Mitchell Rales agreed to pay $720,000 to settle allegations that he failed to report stock purchases to the government so that they could be vetted to determine if they violate antitrust law, antitrust enforcers said on Tuesday. The Federal Trade Commission also reached a settlement with hedge fund founder Ahmet...

  • SANTIAGO, Jan 17- Striking workers at Yamana Gold Inc's El Peñón mine in Chile have reached a wage agreement with the Canadian miner, allowing for the mine to reopen on Wednesday, a union leader said on Tuesday. "We just ended the strike today after signing a contract for four years and we will start working again tomorrow morning," Eduardo Puelles, president of...

  • HOUSTON, Jan 17- Energy Transfer Partners has filed a motion to bar the U.S. Army Corps of Engineers from initiating an environmental study for its controversial Dakota Access pipeline crossing at Lake Oahe in North Dakota. The Corps said it would publish a notice in the Federal Register on Wednesday stating its intent to prepare an environmental impact...

  • In what was likely her final speech before stepping down after President-elect Donald Trump is sworn into office on Friday, White lamented the "prescriptive" rule-writing requirements that Congress has imposed on the SEC and said such efforts harm the agency's ability to get things done or exercise discretion on complicated market issues.

  • LOS ANGELES, Jan 17- California regulators on Tuesday took a step toward reopening the Aliso Canyon natural gas storage facility after a major methane leak in 2015 forced the evacuation of thousands of nearby residents, but new injections will not be authorized until the public has the chance to weigh in. SoCalGas, a unit of California energy company Sempra...

  • NEW YORK— The Federal Trade Commission is suing Qualcomm Inc. for allegedly maintaining a monopoly over a key device used in cellphones and other electronics. The agency said Tuesday that Qualcomm, the world's dominant supplier of baseband processors, imposes "onerous" licensing terms on manufacturers and weakens its rivals. In a statement, San Diego- based...

  • HINGHAM, Mass. _ Hingham Institution for Savings on Tuesday reported fourth-quarter earnings of $6.3 million. The Hingham, Massachusetts- based bank said it had earnings of $2.92 per share. For the year, the company reported profit of $23.4 million, or $10.89 per share.