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  • BRUSSELS, Sept 20- The European Commission proposed on Wednesday transferring some powers to oversee the financial sector from national capitals in a move to extend the EU's grip on the industry as the bloc prepares for the departure of London, its main financial hub. In a bid to strengthen the so-called Capital Market Union, a flagship project to make the EU...

  • BRUSSELS, Sept 20- The European Commission proposed on Wednesday transferring some powers to oversee the financial sector from national capitals in a move to extend the EU's grip on the industry as the bloc prepares for the departure of London, its main financial hub. In a bid to strengthen the so-called Capital Market Union, a flagship project to make the EU...

  • BRUSSELS, Sept 20- The European Commission proposed on Wednesday transferring some powers to oversee the financial sector from national capitals in a move to extend the EU's grip on the industry as the bloc prepares for the departure of London, its main financial hub. In a bid to strengthen the so-called Capital Market Union, a flagship project to make the EU...

  • BRUSSELS, Sept 20- The European Commission proposed on Wednesday transferring some powers to oversee the financial sector from national capitals in a move to extend the EU's grip on the industry as the bloc prepares for the departure of London, its main financial hub. In a bid to strengthen the so-called Capital Market Union, a flagship project to make the EU...

  • BERLIN, Sept 20- German Labour Minister Andrea Nahles said on Wednesday that a merger between Germany's Thyssenkrupp and India's Tata Steel should not happen at any cost and the headquarters needed to be in Germany if it did happen. The sites in Germany must be maintained and compulsory redundancies must be ruled out, "Nahles said in an emailed statement, adding...

  • *August retail sales +1.0 pct m/m vs +0.2 pct forecast. LONDON, Sept 20- British retail sales unexpectedly surged in August, official figures showed on Wednesday, boosting the chance the Bank of England will raise interest rates at its next meeting. Last week the BoE surprised investors by saying it was likely to raise rates in the coming months if the economy and...

  • *Bain-led bid worth some $22 bln- sources. TOKYO, Sept 20- Japan's embattled Toshiba Corp has chosen a group led by U.S. private equity firm Bain Capital to buy its prized memory chip unit, three people with knowledge of the talks said on Wednesday, a last-minute dramatic twist to a highly contentious auction. The make-up of the consortium could spell trouble ahead,...

  • BEIJING, Sept 20- Shanghai aluminium prices on Wednesday hit their highest in nearly six years on a report that Aluminum Corp of China, known as Chinalco, has started cutting production in Henan province almost two months before official winter restrictions kick in. The most-traded aluminium contract on the Shanghai Futures Exchange had jumped 3.9 percent,...

  • BEIJING, Sept 20- Shanghai aluminum prices on Wednesday hit their highest in nearly six years on a report that Aluminum Corp of China, known as Chinalco, has started cutting production in Henan province almost two months before official winter restrictions kick in. The most-traded aluminum contract on the Shanghai Futures Exchange had jumped 3.9 percent, its...

  • *First-half net profit 1.37 bln euros. MADRID, Sept 20- Inditex, the world's biggest clothes retailer and owner of Zara, reported a 9 percent rise in first-half profit on Wednesday but its gross margin as a percentage of sales slipped because of a stronger euro. Its first-half net profit of 1.37 billion euros was slightly short of expectations while earnings...

  • PARIS, Sept 20- France's hard-left CGT labour union has urged its workers to reduce electricity output on Thursday as part of a nationwide protest led by the CGT against government labour reforms. CGT's mining and energy branch, FNME, said in a statement that it had filed a national strike notice to all companies in the electricity and gas sector for the period...

  • DUBAI/ ABU DHABI, Sept 20- Abu Dhabi is hoping to fast-track at least $5 billion of stock market listings by state-backed companies next year before Saudi Aramco's planned $100 billion IPO dominates investor demand. Like neighbouring Saudi Arabia, Abu Dhabi is restructuring its industrial sector, hoping to lure foreign investors with privatisations after...

  • RIYADH, Sept 19- Saudi Arabia will remove its ban on internet phone calls on Thursday, a government spokesman said, in a bid to stimulate online business as the kingdom looks to boost non-oil revenue. All online voice and video call services such as Microsoft's Skype and Facebook's WhatsApp that satisfy regulatory requirements will become accessible at...

  • ZURICH, Sept 20- Swiss drugmaker Novartis on Wednesday won European Union approval for Rydapt to be used against a mutated form of acute myeloid leukemia and other rare diseases, adding to U.S. approvals the medicine secured in April. After its U.S. approval, analysts expect the drug will also find immediate uptake in Europe. "We expect high penetration rates as...

  • WASHINGTON— The Latest on the Federal Reserve's monetary policy meeting:. Asian stock indexes were little changed, with Japan's Nikkei up 0.1 percent, while in Europe Germany's Dax was 0.2 percent higher. The dollar was also trading in narrow ranges, edging down to 111.50 yen from 111.58 yen the day before.

  • LONDON, Sept 20- Russia's bank and financial shares index fell on Wednesday after a lender asked authorities for a bailout, while other emerging assets flatlined, awaiting the outcome of the U.S. Investors are awaiting more news from Russia where the central bank was considering a request to bail out B&N, the country's 12th largest bank by assets, just three weeks...

  • The retailers and other companies asking Congress to pass a permanent replacement for Deferred Action for Childhood Arrivals, or DACA, reflect broadening pressure on political leaders to find a solution for the roughly 800,000 immigrants known as "Dreamers". The new letter reflects Trump's decision and asks for a permanent solution to let DACA recipients...

  • PARIS, Sept 20- Growth rates among the world's major economies are synchronizing at levels not seen in years as the euro zone catches up with United States, the OECD said on Wednesday in an update of its forecasts. The Paris- based policy forum raised its outlook for euro zone growth this year to 2.1 percent, up from 1.8 percent the last time the OECD issued forecasts...

  • *FTSE 100 dips 0.2 pct as retail sales boost sterling. LONDON, Sept 20- Britain's major share index dipped on Wednesday on a potentially debilitating jump in sterling after data showed retail sales unexpectedly surged in August. The FTSE 100 fell 0.2 percent as the pound hit its highest so far for the day against the dollar.

  • LONDON— Retail sales in Britain rose far more than anticipated during August, official figures showed Wednesday, further reinforcing expectations that the Bank of England will raise interest rates in November for the first time in a decade. The figures pushed up the value of the pound, as traders think the Bank of England is now even more likely to raise interest...