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Wires

  • *Libya's As-Sarah oilfield restart to add 55,000 bpd. LONDON, Jan 22- Crude futures edged higher on Monday, propped up by comments from Saudi Arabia that cooperation between oil producers who have cut production to boost prices would continue beyond 2018.. Brent on Jan. 15 rose to $70.37, its highest since December 2014.

  • ZURICH, Jan 22- Luxury goods maker Richemont on Monday offered up to 2.8 billion euros to take full control of Yoox Net-A-Porter in a bid to expand the online retailer as competition for online sales of high-end products grows. Richemont, who like many peers in the luxury industry has been slow in pushing online sales, offered of 38 euros per share for YNAP, an almost...

  • ZURICH _ UBS AG on Sunday reported a fourth-quarter loss of $2.25 billion, after reporting a profit in the same period a year earlier. The bank, based in Zurich, said it had a loss of 61 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • The World Economic Forum in Davos, Switzerland, is meant— pretentiously perhaps— to be a place for the world's decision-makers to put their power to good use. Instead, Trump will bring his zero-sum message of " America First," and will speak last among the parade of world leaders— from places like India, France and Canada— who are gathering from Tuesday to Friday in the...

  • *China Enterprises index HSCE rises 0.2 percent. Jan 22- Hong Kong's benchmark Hang Seng Index rose to a fresh record on Monday, as mainland money continued to gush into the city's stocks. **China's main Shanghai Composite index closed up 0.39 percent at 3,501.3622 points while its blue-chip CSI300 index ended up 1.19 percent.

  • LONDON, Jan 18- Sterling steadied around $1.39 on Monday, with traders cautious about pushing the pound higher after five consecutive weeks of gains against the dollar- the currency's longest winning streak since 2014.. Former Goldman Sachs economist and Treasury minister Jim O'Neill said on Monday morning that Britain's economy is likely to do better in...

  • LONDON, Jan 22- South Africa's rand rose to its highest in more than two years on Monday amid growing expectations that scandal-tarnished President Jacob Zuma would soon be ousted, while emerging-market equities pushed to another near-decade high. The rand gained around 1 percent against the dollar to trade at its best levels since June 2015, following...

  • LONDON, Jan 22- Britain's Dixons Carphone, battling a fall in profit and set to lose its two top executives, beat forecasts for Christmas trading, helped by market share gains in electricals and demand for the new iPhone. The UK's largest electricals and mobile phone retailer reported a 6 percent rise in underlying revenue in the 10 weeks to Jan. 6, its fiscal third...

  • *Denies jitters in Russia's business elite over sanctions. MOSCOW, Jan 22- Andrey Kostin, the head of Russian state bank VTB and an ally of President Vladimir Putin, said there was a high risk his name would be added to a new U.S. list of people close to Vladimir Putin, but that he was unfazed by the prospect. VTB, which is a cornerstone of Russia's financial sector and has...

  • SAN FRANCISCO, Jan 22- Facebook Inc warned on Monday that it could offer no assurance that social media was on balance good for democracy, but the company said it was trying what it could to stop alleged meddling in elections by Russia or anyone else. The sharing of false or misleading headlines on social media has become a global issue, after accusations that...

  • In the run-up to the World Economic Forum in the Swiss ski resort of Davos, Oxfam has sought to put inequality at the heart of this week's deliberations of the rich and powerful. In its report "Reward Work, Not Wealth," Oxfam says 82 percent of the wealth generated last year went to the richest 1 percent of the global population while the poorest half of the world's...

  • *Follows agreement with French supermarket Group Casino. Jan 22- Canada's second largest food retailer Sobeys Inc has signed a deal to use the ecommerce platform of Ocado to expand its online business, sending shares in the British group up 10 percent on its latest international tie-up. Ocado's shares jumped 12 percent in early trading on Monday, building on...

  • PARIS, Jan 22- ATR, the world's largest turboprop maker, reported on Monday that its number of orders had more than tripled from a year ago, buoyed by a general pick-up in the aviation sector. The company, whose main rival is Canadian group Bombardier, added that its annual turnover had stabilised to stand at $1.8 billion, which ATR said was among its best results since...

  • ZURICH, Jan 22- Luxury goods maker Richemont on Monday offered up to 2.8 billion euros to buy the shares in Yoox Net-A-Porter that it does not already own in a deal aimed at boosting the Swiss company's online presence. The deal values Italy's Yoox Net-A-Porter at about 5.3 billion euros, YNAP Chief Executive Federico Marchetti said on Twitter.

  • *FTSE 100 up 0.1 pct, mid caps inch lower. Oil majors BP and Shell rose 0.7 percent, helping the country's main share index FTSE 100 edge up 0.1 percent. William Hill and Ladbrokes, which is being bought by GVC for up to 4 billion pounds, both hit their lowest level in more than seven weeks, while Paddy Power on the FTSE fell 1.4 percent.

  • *UK betting groups fall on new regulation report. LONDON, Jan 22- European shares traded with little clear direction on Monday as markets focused on a flurry of M&A, with limited impact from the shutdown of the U.S. government and progress towards an end to political deadlock in Germany. Germany's DAX was down 0.1 percent, France's CAC-40 was 0.2 percent lower and...

  • DUBAI, United Arab Emirates— Port operator DP World says it will create a joint investment project with India's National Investment and Infrastructure Fund to develop ports and other logistics businesses in the country worth up to $3 billion. DP World made the announcement in a statement Monday, saying it will look beyond seaports to "river ports and...

  • *Agrees to buy Bioverativ for $105/ share in cash. PARIS, Jan 22- French healthcare group Sanofi has agreed to buy U.S. haemophilia specialist Bioverativ for $11.6 billion, its biggest deal for seven years, which it said would strengthen its presence in treatments for rare diseases. Sanofi shares fell 3.4 percent by 0920 GMT, making the stock the worst performer on...

  • KUALA LUMPUR, Jan 22- Malaysia, the world's second-largest palm producer, said on Monday it would work with other producing countries to voice "strong concerns" to the World Trade Organization, following the European Union's move to back a ban on using palm oil to make biofuels. Indonesia and Malaysia, who produce nearly 90 percent of the world's palm oil, called the...

  • LONDON, Jan 22- Britain's economy is likely to do better in 2018 than many forecasts suggest and the benefits of global growth in the coming years will "easily dwarf" any hit from leaving the European Union, former Goldman Sachs economist Jim O'Neill said. O'Neill, a former Treasury minister who backed staying in the EU before the 2016 referendum, told BBC radio that...