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Wires

  • NEW YORK, July 11- Banco Santander has partnered with San Francisco- based startup Tradeshift to provide supply chain finance to the 1.5 million businesses on the financial technology company's digital platform. The joint offering, which is expected to be rolled out globally next year, will be initially available to the bank's UK clients in late 2017, the...

  • SHANGHAI, July 11- Hong Kong stocks extended this week's rally, posting their best day in four months on Tuesday, bolstered by strong gains among financial sector stocks. Shares of Sunac China Holdings Ltd raced 13.7 percent on the resumption of trade on Tuesday, a day after the acquisitive developer agreed to buy tourism projects and hotels from Chinese...

  • BEIJING, July 11- China's vehicle sales rebounded in June, the country's top industry association said, shaking off weakness seen in the previous two months as carmakers grappled with a rollback in tax incentives that drove strong growth last year. Total vehicle sales hit 2.17 million in June, up 4.5 percent from a year earlier, while sales for the first half of the...

  • TOKYO, July 11- Mitsubishi UFJ Financial Group may disclose information on so-called special advisors- all former top executives- and clarify the work they do, as part of its efforts to improve corporate governance, sources at the bank with direct knowledge of the matter said. Prime Minister Shinzo Abe's administration has made corporate governance a key...

  • BEIJING/ SINGAPORE, July 11- China has opened more than 6,000 trading accounts for its long-awaited crude futures contract- with three-quarters coming from individual traders- as it pushes ahead with plans to compete with global pricing benchmarks. China's oil majors and about 150 brokerages have also registered, but the strong interest by' mom-and-pop'...

  • SYDNEY, July 11- Copper turned positive in late Asia trading on Tuesday, boosted by stronger steel prices in China. On the Shanghai Futures Exchange, the most-active steel rebar contract galloped more than 3 percent higher. *The most-traded copper contract on the Shanghai Futures Exchange ended 0.41 percent higher at 47,050 yuan a tonne.

  • *Kiwi dollar drops after earthquake off South Island. The New Zealand dollar fell to its lowest since June 23 after a report of a large earthquake hitting off its South Island, although there were no immediate reports of damage. "The real story at the moment is the rise in U.S. real yields," said Richard Benson, co-head of portfolio investment with currency fund...

  • *ESM urges Greece to ready market borrowing strategy. The ECB's Benoit Coeure is due to speak on Tuesday but analysts said they are most interested in a speech by Fed Governor Lael Brainard on the topic of normalizing central banks' balance sheets, while Fed chair Janet Yellen's semi-annual testimony to Congress follows on Wednesday. San Francisco Federal...

  • JAKARTA/ SINGAPORE, July 11- Indonesia says it will invite the head of mining giant Freeport McMoRan Inc to Jakarta this month to try to settle a festering dispute over a new deal to operate the world's second-largest copper mine. Uncertainty over output from the mine buoyed international copper prices earlier in the year, with Indonesia a key supplier of the...

  • LONDON, July 11- European shares made modest gains for a second session on Tuesday as strength among miners and banks lent a helping hand. Basic resources stocks supported the index, up 1 percent, with Anglo American the top FTSE gainer. Construction equipment company Travis Perkins was lifted by a positive update from peer Galliford Try, which said it saw...

  • *French national Mark Karpeles, 32, pleads not guilty. French national Mark Karpeles filed the plea in response to charges of embezzlement and data manipulation at the Tokyo District Court, according to a pool report for foreign journalists. In its bankruptcy filing, Tokyo- based Mt.

  • PARIS, July 11- Lanvin, France's oldest fashion brand, named on Tuesday Olivier Lapidus as its new artistic director, following the departure of Bouchra Jarrar. Founded in 1889, Lanvin is one of France's last major independent fashion labels in an industry dominated by multi-brand groups such as LVMH and Kering. Olivier Lapidus, 59, is himself the son of the late,...

  • SHANGHAI, July 11- China stocks diverged on Tuesday, with the blue-chip index hitting a fresh 18- month high as investors chased companies with solid fundamentals, while small-caps extended a fall on expectations more equity issuance would soften valuations. An index tracking 50 blue-chips in Shanghai, dubbed China's "nifty 50" index, rose 0.8 percent to a 20-...

  • LONDON, July 11- Britain's Marks& Spencer reported another fall in underlying clothing sales in its latest quarter, though the decline was slightly less than analysts' expected and full-price sales- a key guide to profitability- continued to grow. Trading in the first quarter was in line with our expectations and we are on track with delivery of the plan we...

  • *Portfolio value rises 14 percent to S $275 billion. SINGAPORE, July 11- Singapore state investor Temasek Holdings' assets rebounded last year and rose nearly 14 percent to a record S $275 billion, propelled by gains in shares of Chinese banks and of its mainstay Singapore companies. Among the world's biggest investors, Temasek has been reshaping its strategy in...

  • *Goldman Sachs warns of oil below $40 per barrel. SINGAPORE, July 11- Oil rose on Tuesday, lifted by a strong demand outlook for the coming weeks, but overall market conditions remain weak on the back of an ongoing fuel supply overhang, prompting several banks to cut their price forecasts. Brent crude futures were at $47.18 per barrel at 0658 GMT, up 30 cents, or 0.6...

  • PARIS, July 11- Investments in electricity surpassed those in oil and gas for the first time ever in 2016 on a spending splurge on renewable energy and power grids as the fall in crude prices led to deep cuts, the International Energy Agency said on Tuesday. "This decline is attributed to two reasons," IEA chief economist Laszlo Varro told journalists.

  • SINGAPORE, July 11- Singapore state investor Temasek Holdings reported a nearly 14 percent jump in its portfolio value to a record S $275 billion last year, bolstered by gains in shares of Chinese banks and of its mainstay Singapore companies. The gains in the portfolio for the year to March 31, 2017 compared with a 9 percent decline in its assets a year ago.

  • TOKYO, July 11- Mitsubishi UFJ Financial Group may disclose information on so-called special advisors- all former top executives- and clarify the work they do, as part of its efforts to improve corporate governance, sources at the bank with direct knowledge of the matter said. Prime Minister Shinzo Abe's administration has made corporate governance a key...

  • PARIS, July 11- French telecoms regulator Arcep plans to impose several new obligations on market leader Orange to improve companies' access to ultra-fast fixed broadband services. The regulatory changes are set to be implemented from January 2018 onwards, and will be formally adopted after a public consultation, with the final decisions due before the end of...