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  • MILAN, Sept 21- Volvo Cars showed off its first compact SUV on Thursday with the launch of its new XC40 model, the latest in a sweeping overhaul of the carmaker's line-up under Chinese ownership. Since it was bought from Ford by Zhejiang Geely Holding Group in 2010, Volvo has taken on larger rivals such as BMW and Daimler's Mercedes-Benz with new, more upmarket...

  • SAN JUAN, Puerto Rico, Sept 21- Hurricane Maria thrashed parts of the Dominican Republic with heavy rain and high winds as it passed near its east and north coasts on Thursday after making a direct hit on Puerto Rico that caused severe flooding and cut power to the entire island. Maria has killed at least 10 people as it raged through the Caribbean, the second major...

  • BEIJING— The Standard& Poor's rating agency has cut China's credit rating, citing the country's rising debt load. S&P's announcement Thursday followed a similar move by Moody's, another global rating agency, in May to reduce its own outlook on the Chinese government's ability to repay its debts. S&P said the change reflects its view that a "prolonged period of...

  • India's rupee skidded to a two-month low while China's yuan eased 0.2 percent. Turkey and South Africa- two countries vulnerable to Fed moves due to their current account deficits- saw their currencies slip 0.3 percent to the weakest in around five weeks. And there could be more weakness ahead for currencies across central and eastern Europe, the Middle East and...

  • Sept 21- S&P Global Ratings lowered the long-term sovereign credit ratings on China to' A+' from' AA-'.

  • *FTSE 100 up 0.2 pct. LONDON, Sept 21- Gains among banking stocks boosted the UK's top share index on Thursday after the U.S. British banks were among the strongest FTSE gainers, with Barclays, Royal Bank of Scotland and Lloyds all up between 1 percent to 2.8 percent after the U.S.

  • *FTSE 100 up 0.2 pct. LONDON, Sept 21- Gains among banking stocks boosted the UK's top share index on Thursday after the U.S. British banks were among the strongest FTSE gainers, with Barclays, Royal Bank of Scotland and Lloyds all up between 1 percent to 2.8 percent after the U.S.

  • LONDON, Sept 21- Sterling was steady on Thursday, having pulled away the previous day from its highest level since last year's Brexit vote result, after the U.S. That drove up the dollar to its highest level in more than two weeks against a basket of currencies, and the pound slipped to as low as $1.3452, having reached $1.3659 earlier in the day, its highest since June...

  • BUDAPEST/ PRAGUE, Sept 21- Central Europe's most liquid currencies, the forint and the zloty fell on Thursday after the Federal Reserve signalled balance sheet tightening and one more rate hike in 2017. "Tighter policy by the Fed cuts liquidity in the world and affects risk assets like emerging markets," one Budapest- based fixed income trader said.

  • ZURICH, Sept 21- Nestle plans to cut up to 450 jobs at a Galderma research and development centre in southern France, the Swiss company said on Thursday, as it seeks to make the underperforming skin health business more efficient. Galderma, which Nestle took over from its joint venture partner L'Oreal in 2014, will cut as many as 450 of 550 jobs at its R&D centre in...

  • ZURICH, Sept 21- Nestle plans to cut up to 450 jobs at a Galderma research and development center in southern France, the Swiss company said on Thursday, as it seeks to make the underperforming skin health business more efficient. Galderma, which Nestle took over from its joint venture partner L'Oreal in 2014, will cut as many as 450 of 550 jobs at its R&D center in...

  • *BOJ keeps interest rate targets unchanged. TOKYO, Sept 21- At the Bank of Japan, it was the same old story. BOJ Governor Haruhiko Kuroda, however, played down any suggestion of a fresh rift in the board that could further delay any plan by the central bank to dial back its massive stimulus.

  • OSLO, Sept 21- The Norwegian central bank now sees its first rate hike "well into 2019", its governor said on Thursday, after the bank left its key policy rate unchanged at a record low of 0.5 percent. "If things are as expected, we are well into 2019 for the first rate hike," Oeystein Olsen told a news conference. The central bank's monetary policy report, which was published...

  • LONDON, Sept 21- Makers of generic AIDS drugs will start churning out millions of pills for Africa containing a state-of-the-art medicine widely used in rich countries, after securing a multi-million dollar guarantee that caps prices at just $75 per patient a year. In return the drugmakers, India- based Mylan Laboratories and Aurobindo Pharma, will agree the...

  • MYLAN LABORATORIES, AUROBINDO PHARMA TO SUPPLY CUT-PRICE PILLS CONTAINING DOLUTEGRAVIR.

  • PRICING DEAL TO PROVIDE AFRICA, OTHER POOR REGIONS WITH MODERN HIV DRUG COCKTAIL FOR $75 PER PATIENT A YEAR.

  • *Fed policymakers expect one more rate hike this year. LONDON, Sept 21- Signals the Federal Reserve will hike U.S. interest rates again this year and begin the' Great Unwinding' of a decade of aggressive stimulus, drove the dollar to a two-month high versus the yen on Thursday and sent bonds and commodities lower. Traders reacted predictably to what had been a...

  • OSLO, Sept 21- Norway's central bank kept its key policy rate unchanged at 0.50 percent on Thursday, but raised its rate path, strengthening the crown currency against the euro and the dollar. "The key policy rate is forecast to be 0.5 percent over the coming year, rising gradually thereafter," Norges Bank said in a statement. In June the central bank removed its easing...

  • *STOXX 600 up 0.3 pct. LONDON, Sept 21- Banking shares drove European bourses higher on Thursday after the U.S. The pan-European STOXX 600 gained 0.3 percent while euro zone stocks and blue-chips followed suit as the U.S. central bank's optimism on the economy stoked renewed enthusiasm for financials and cyclical sectors in Europe.

  • OSLO, Sept 21- The Norwegian central bank forecasts its key policy rate to reach 1.5 percent in late 2020, the bank's head of monetary policy unit, Ida Wolden Bache, told a news conference on Thursday.