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Wires

  • MOSCOW, Dec 15- Russia has stepped in to rescue Promsvyazbank, the country's 10th largest private lender, its central bank said on Friday, the third in a series of costly financial bailouts this year. The bailouts mark the biggest challenge to Russia's financial sector since a banking crisis roughly 20 years ago and show how the country and its banks are grappling...

  • *The benchmark S&P 500 fell the most in a month on Thursday after Republican Senators Marco Rubio and Mike Lee said they would not back the bill without changes to child tax credits, joining a list of lawmakers whose support is uncertain. *Stock market has rallied this year, partly on hopes of corporate tax cuts that President Donald Trump promised during his...

  • LONDON, Dec 15- Gold prices rose on Friday and were set for their first weekly gain in four weeks as uncertainty over the passage of U.S. tax reform pushed the dollar to a nine-day low against the yen. "The U.S. dollar is weakening a little and that's benefiting gold," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. Spot gold was up 0.4 percent at...

  • BEIJING, Dec 15- China will cut export taxes on some steel products and fertilisers and ditch those for sales abroad of steel wire, rod and bars from Jan. 1, the Ministry of Finance said on Friday, in a series of measures that could boost shipments. The move is likely to stir concerns among foreign competitors in the United States and Europe that China, the world's top...

  • Dec 15- Aclaris Therapeutics Inc said on Friday the U.S. Food and Drug Administration had approved its topical drug to treat seborrheic keratoses, growths on the skin that are harmless but affect millions of Americans. Aclaris's drug, Eskata, would be the first FDA- approved non-invasive treatment for the condition, the company said. Seborrheic keratoses are...

  • BEIJING, Dec 15- China will cut export taxes on some steel products and fertilizers and ditch those for sales abroad of steel wire, rod and bars from Jan. 1, the Ministry of Finance said on Friday, in a series of measures that could boost shipments. The move is likely to stir concerns among foreign competitors in the United States and Europe that China, the world's top...

  • PARIS, Dec 15- The board of French state-owned utility EDF has given final approval for the acquisition of a 75.5 percent stake in Areva NP, the nuclear reactor construction unit of fellow state-owned nuclear group Areva, by year-end, three sources said. One said the board had lifted required guarantees on the successful completion of Areva-designed EPR...

  • BRUSSELS— Leaders of 27 European Union nations gave British Prime Minister Theresa May an early Christmas present on Friday, declaring that Brexit talks can move on to their next phase: transition and future relations. The early priority is to establish a transition period, probably of about two years, to ease Britain out of the EU. After Britain officially exits...

  • BRUSSELS, Dec 15- European Union leaders will focus on trying to complete a banking union and expanding the job of the euro zone bailout fund when they discuss priorities for euro zone integration on Friday, putting off contentious issues such as a budget for the currency area. But the main players in the debate-- French President Emmanuel Macron, German...

  • LONDON, Dec 15- More households in Britain expect a deterioration in their finances than an improvement for the first time in three years, with much of it linked to the Brexit vote in 2016, a survey published by the Bank of England showed. The fall reflected how households felt about their personal finances over the past 12 months and a loss of confidence in the...

  • CARACAS/ HOUSTON, Dec 15- Decisions at some joint ventures with foreign firms are delayed. An alleged crackdown on graft in Venezuela, seen by critics as an effort by President Nicolas Maduro to consolidate power, has sown panic across the country's energy industry and all but paralyzed state-run Petroleos de Venezuela SA, or PDVSA, according to people at the...

  • SINGAPORE/ LONDON, Dec 15- Oil prices edged up on Friday, lifted by the Forties pipeline outage in the North Sea, ongoing OPEC- led production cuts and a decline in global stocks, although rising U.S. output kept a lid on markets. The ongoing outage of the Forties pipeline, which carries North Sea oil to Britain, was the main price driver, traders said.

  • MUMBAI, Dec 15- The Indian government ignored several warnings from private companies that the complex technology required for a nationwide goods and services tax to work smoothly was not ready for launch, several people who worked on the project said. Weeks before the July 1 start of India's biggest tax overhaul in decades, the government declared itself...

  • *British Columbia rejects KGHM proposed Ajax mine. VANCOUVER/ WARSAW, Dec 15- Polish miner KGHM said on Friday it was considering its next step after British Columbia said it would not issue an environmental certificate for its Ajax copper and gold mine in the province's interior. It is located some 10 kilometres from the city of Kamloops, in central British...

  • LONDON, Dec 15- Copper came under pressure on Friday from profit-taking ahead of the holiday period, but expectations of strong demand in top consumer China after data showed firm industrial activity lent support to prices. "Copper is seeing some profit-taking, book-squaring, but it seems to have established a floor at $6,500 and fundamentals are pretty strong...

  • Arla Foods, one of Europe's biggest dairy companies, says Chinese demand for premium products and high food safety standards in Denmark have helped it almost double its sales to China this year. Food safety has been an important issue in China since a 2008 scandal killed six infants who had been fed milk powder that had been adulterated with the toxic melamine,...

  • BRUSSELS— The Latest on Britain's Brexit discussions with the European Union at a summit of EU leaders in Brussels:. European Union leaders have given the go-ahead to Brexit talks with Britain to move onto the next stage, which will involve discussions over future relations and trade. The clearance provides a welcome boost to May, who earlier this week lost a key...

  • CARACAS, Dec 15- Venezuelan state oil company PDVSA said late on Thursday it had begun the process of making interest payments on four of its bonds, asking investors to trust the company's "financial capacity" following repeated payment delays. The cash-strapped company has for months struggled to make timely payments on its heavily discounted bonds, in part...

  • *North Sea pipeline shut on Dec. 11. The 169- km pipeline, which carries around a quarter of all North Sea crude output and about a third of Britain's offshore gas production, has been closed since Monday, following the discovery of a small crack in part of the system onshore in Scotland. "Probably everybody's got revised dates now," a North Sea trader said, adding his...

  • *BP to invest $200 mln Europe's largest solar developer. Dec 15- BP is getting back into solar power six years after its first, failed foray, with a $200 million investment in solar generator Lightsource that the oil and gas firm expects will deliver profits and deepen its foothold in renewable energy. The London- based solar firm plans to quadruple its solar...