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Wires

  • VIENNA, Sept 22- Output cuts by OPEC and other oil producers are clearing a supply glut that has depressed crude prices for three years, ministers said on Friday, suggesting they could extend cooperation well into 2018.. Ministers on a panel monitoring the pact, comprising Kuwait, Venezuela and Algeria, plus non-OPEC Russia and Oman, were meeting in Vienna after...

  • NEW YORK— The Latest on President Donald Trump and North Korea:. President Donald Trump is again assailing North Korea Kim Jong Un, saying that he "will be tested like never before." In an escalation of the war of words between the United States and North Korea, Trump sent a predawn tweet Friday saying, " Kim Jong Un of North Korea, who is obviously a madman who doesn't mind...

  • LONDON, Sept 22- London stripped Uber on Friday of its licence to operate from the end of September in a huge blow to the taxi app that will affect more than 40,000 drivers in one of the world's biggest cities. Regulator Transport for London said Uber's conduct posed risks to public safety and it would not renew its licence when it expires on Sept. 30.

  • In Shanghai the most active contract went one better, hitting a six-year high of 17,250 yuan per tonne. Well, it's not exactly Christmas, but in China winter has come early with the first aluminium smelters now powering down ahead of the mandated cuts over the "winter heating season". China's "Air Pollution Control" regulation, formally approved in February,...

  • Negotiators from Canada, Mexico and the United States will gather in Ottawa on Saturday for the third round of talks on modernizing the North American Free Trade Agreement with many tough items yet to be broached. Canada last month suggested it could walk away if the United States pushed to remove a key dispute-settlement mechanism. The United States accounts...

  • HOUSTON, Sept 22- Addressing a real estate conference in flood-ravaged Houston this month, longtime investor Ray Sasser detailed his strategy: buy up to 50 flooded homes at deep discounts, then fix and flip them for a hefty profit. Sasser first followed that game plan after Tropical Storm Allison flooded the city in 2001. The bet that home prices in hard-hit...

  • LONDON, Sept 22- London stripped Uber on Friday of its license to operate from the end of September in a huge blow to the taxi app that will affect more than 40,000 drivers in one of the world's biggest cities. Regulator Transport for London said Uber's conduct posed risks to public safety and it would not renew its license when it expires on Sept. 30.

  • London, Sept 22- Oil prices were marginally firmer on Friday, as the market waited to see whether major producers meeting in Vienna would back an extension to output cuts beyond March next year. Some ministers from the Organization of the Petroleum Exporting Countries and from other producers led by Russia are set to discuss a possible extension to the current...

  • TOKYO— A Japanese court has ruled that a utility, not the government, should pay compensation to dozens of former residents of Fukushima for losses to their livelihood caused by meltdowns at a nuclear plant after a massive earthquake and tsunami in 2011.. Chiba District Court ordered Tokyo Electric Power Co. on Friday to pay a total of 376 million yen to most of...

  • LONDON, Sept 22- Gold recovered from a four-week low on Friday as investors sought a safe haven from geopolitical uncertainty caused by rising tensions between North Korea and the United States. North Korea said on Friday it might test a hydrogen bomb in the Pacific Ocean after Trump vowed to destroy the country, with leader Kim Jong Un promising to make a "...

  • BEIJING, Sept 22- China's attempts to reduce risks from its rapid buildup in debt are not working as quickly as expected and credit growth is still too fast, S&P Global Ratings said on Friday, a day after it downgraded the country's sovereign credit rating. While S&P warned in June that a cut may be on the cards, it said it decided to make the call after concluding that...

  • BEIJING, Sept 22- China's attempts to reduce risks from its rapid buildup in debt are not working as quickly as expected and credit growth is still too fast, S&P Global Ratings said on Friday, a day after it downgraded the country's sovereign credit rating. While S&P warned in June that a cut may be on the cards, it said it decided to make the call after concluding that...

  • PARIS, Sept 22- Carrefour's new boss on Friday named his leadership team, putting the man credited with reviving the retailer's Spanish operations in charge of turning around its business in France, its biggest market. In France, which accounts for nearly half of Carrefour's sales and 44 percent of operating profit, the group faces fierce price competition from...

  • *Fourth term expected for Chancellor Angela Merkel. LONDON, Sept 22- German 10- year bond yields steadied just below 0.5 percent on Friday, ahead of national elections this weekend that are set to return Angela Merkel to office as head of Europe's biggest economy. Compared with France's elections earlier this year, Sunday's vote in Germany has passed largely...

  • TOKYO, Sept 22- Japanese Prime Minister Shinzo Abe is considering introducing new tax breaks aimed at encouraging companies to boost wages and accelerate capital expenditure to spur economic growth, government and ruling party sources told Reuters on Friday. Abe is arranging to unveil the tax incentives at a news conference on Monday at which he is also...

  • PARIS— On Sunday, France will elect nearly half its Senate, in a vote that is expected to illustrate the slide in President Emmanuel Macron's popularity since his election earlier this year. The election involves around half of the Senate— or 171 of the chamber's 348 seats. French Senators debate and vote laws along with the National Assembly, France's lower house...

  • JOHANNESBURG, Sept 22- A South African business lobby group suspended KPMG from membership on Friday, citing the "gravity" of its conduct over the auditor's work for business friends of President Jacob Zuma. The firm is already being investigated by the country's Independent Regulatory Board of Auditors for its work for the Gupta firms. Meanwhile South...

  • Transport for London says the car-hailing app was not "fit and proper to hold a private hire operator license." Uber, whose app is used by 3.5 million passengers and 40,000 drivers in London, will see its current license expire on Sept. 30. London Mayor Sadiq Khan said he supported the decision, saying any operator of taxi services in the city "needs to play by the rules.

  • BUDAPEST, Sept 22- Hungarian government bonds slightly extended their gains on Friday due to expectations that Hungary's central bank will continue to support the market despite a gradual worldwide monetary tightening. "Negative short-term yields mean a capital loss and that nudges investments into longer maturities," one Budapest- based trader said.

  • *North Korea rhetoric drives safe haven currencies. LONDON, Sept 22- Jitters over a fresh exchange of barbs between North Korea and the United States eased in Europe on Friday as strong economic data supported European stocks, and investors' focus turned to a planned speech by Britain's prime minister on Brexit. Europe's main stock index recovered from early...