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Wires

  • KUWAIT, Sept 26- Kuwait's parliament is likely to approve a law to extend the country's borrowing limits, enabling 30- year debt issues, a senior finance ministry official said on Tuesday. The law would allow Kuwait to increase its debt ceiling to 25 billion Kuwaiti dinar from 10 billion currently. Kuwait issued a debut $8 billion international bond in March with...

  • BERLIN, Sept 26- Conservatives in the state of Bavaria, agonising over heavy losses in Sunday's federal election, are shaping up as a big obstacle to Chancellor Angela Merkel's bid to forge a new three-way coalition in Germany. German voters punished Merkel's conservative bloc for her handling of the 2015 refugee crisis on Sunday, turning in droves to the...

  • Sept 26- Axovant Sciences Ltd's drug failed to improve cognitive abilities and daily activities in Alzheimer's patients, in the latest setback to finding a treatment for the memory-robbing disease that affects millions in the United States. The company's shares plunged 69 percent in premarket trading on Tuesday. The reversal comes more than seven months...

  • FRANKFURT, Sept 26- A Chinese-led group has withdrawn its offer to buy a stake in German carmaker-backed mapping company HERE after it failed to win approval from a U.S. national security oversight board. Navinfo said in a statement that it spent months after the deal was announced in January seeking approval from the U.S. Committee on Foreign Investment.

  • LONDON, Sept 26- Gold eased under pressure from the dollar on Tuesday with investors booking profits after rising tensions between North Korea and United States pushed the metal to a one-week high. The precious metal was hit by profit-taking but relations between North Korea and the U.S continued to deteriorate, said Commerzbank commodity analyst Carsten...

  • LONDON, Sept 26- The Bank of England expects 130 financial firms from across Europe to apply for licences to continue operating in Britain after Brexit, its Deputy Governor Sam Woods said on Tuesday. Woods, who head's the Bank's Prudential Regulation Authority, also told the Reuters Financial Regulation Summit that he will have to decide by Christmas if...

  • LONDON, Sept 26- The Bank of England expects 130 financial firms from across Europe to apply for licenses to continue operating in Britain after Brexit, its Deputy Governor Sam Woods said on Tuesday. Woods, who head's the Bank's Prudential Regulation Authority, also told the Reuters Financial Regulation Summit that he will have to decide by Christmas if...

  • HABUR, Turkey, Sept 26- Turkish President Tayyip Erdogan said Iraqi Kurds would go hungry if his country halts the flow of trucks and oil across the border with northern Iraq and warned that all military and economic measures were on the table against its neighbour. The comments, some of the harshest yet from Erdogan about Monday's referendum in Iraq's...

  • *European shares struggle, euro slides below $1.18. *Wall Street seen flat ahead of Yellen speech. The single currency fell back under $1.18, still feeling the effects of Sunday's bruising German election win for Angela Merkel that had given it its worst day of the year.

  • LONDON, Sept 26- Brent oil prices hovered near 26- month highs on Tuesday, supported by Turkey's threat to cut crude exports from Iraq's Kurdistan region and signs of quicker market rebalancing. This potential loss, combined with 1.8 million bpd of output reductions by the Organization of the Petroleum Exporting Countries and non- OPEC producers, raised...

  • *Brazil rain eases planting concern. PARIS/ SINGAPORE, Sept 26- Chicago soybean futures edged lower on Tuesday as the market remained under pressure after its biggest one-day decline in six weeks in the previous session, with the focus on U.S. harvest progress and beneficial rain for planting in Brazil. The Chicago Board Of Trade's most-active soybean contract...

  • Sept 26- France's Total has agreed to pay $1 million for an option to buy a 25 percent stake in an oil exploration block offshore Guyana, its first foray into an area close to where ExxonMobil made one of the largest discoveries of the last decade. Eco Atlantic Oil& Gas, a small Canadian exploration company which earlier this year listed on London's junior AIM market,...

  • LONDON, Sept 26- Happiness levels in Britain have inched up to reach their highest rate since measurements of wellbeing began in 2011, despite the political uncertainty since last year's Brexit vote, the statistics office said. A narrow majority of Britons who took part in the country's European Union membership referendum in June last year voted to leave the...

  • Sept 26- Chesapeake Energy Corp said on Tuesday it expects a 15 percent drop in third-quarter production, in part due to Hurricane Harvey, which knocked out nearly a fifth of the United States' oil-refining capacity. The oil and natural gas producer said it expects current-quarter production to be about 542,000 barrels of oil equivalent per day, lower than the...

  • Manulife Real Estate, part of Manulife Financial Corp, appointed Kenny Lam as managing director, head of Asia real estate investments, effective immediately. Asset manager Schroder Plc appointed Charles Prideaux as head of solutions, reporting to Richard Mountford, the global head of its product division. The asset management arm of JPMorgan Chase& Co said it...

  • PORT ELIZABETH, South Africa, Sept 26- Chinese car-maker BAIC said on Tuesday it expected the first vehicles to roll off its new 11 billion rand South African assembly plant early next year, with most of the vehicles destined for export. The factory, near car export hub of Port Elizabeth, will be the first new car plant in South Africa in four decades and is expected to...

  • SINGAPORE, Sept 26- The great disruptor that is U.S. shale oil is coming to Asia, as refiners in the energy-hungry region look to expand and diversify their sources of crude, and the consequences will likely go well beyond a shift in oil trade flows. Crude oil exports to Asia from the United States are still relatively small-scale, with Thomson Reuters Oil Research...

  • GENEVA, Sept 26- The United States has asked China not to implement its new cyber security law and is concerned it could damage global trade in services, a U.S. document published by the World Trade Organization showed on Tuesday. China ushered in a tough new cyber security law in June, following years of fierce debate around the move that many foreign business...

  • *French president to deliver speech on Europe at 1300 GMT. PARIS, Sept 26- French President Emmanuel Macron will attempt to marry his vision for Europe with the reality of German politics on Tuesday as he delivers a speech at the Sorbonne laying out plans for overhauling Europe's single currency zone. The FDP has also called for a phasing out of Europe's ESM...

  • *Cash to three-month spread widest since Jan 2007. LONDON, Sept 26- Zinc bulls have been waiting a long time for this, but the slow-burning supply crunch has at last travelled all the way down the supply chain to bite holders of short positions on the London Metal Exchange. The benchmark cash to three-month spread closed on Monday at a backwardation of $66 a tonne.