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Wires

  • TOKYO, Dec 14- Japan's ruling bloc approved a plan on Thursday to slash the corporate tax rate to around 20 percent from 30 percent- but only for companies that raise wages aggressively and boost domestic capital spending. The carrot-and-stick approach is Prime Minister Shinzo Abe's most aggressive step yet to convince companies to lift wages 3 percent, which...

  • HOUSTON, Dec 14- Financiers keep pouring cash into the shale oil sector, providing producers with a path to keep U.S. output rising through the middle of the next decade. The United States is on track to deliver up to 80 percent of the world's oil production gains through 2025, the International Energy Agency estimates, increases fueled in part by easy access to...

  • *Gas shortages are disrupting business in northeast China. SHIJIAZHUANG, China, Dec 14- Severe natural gas shortages are hitting businesses and residents across China's industrial heartland as an unprecedented government effort to clean up an environment devastated by decades of unbridled growth backfires. The gas shortages, which have sent prices...

  • NEW YORK, Dec 14- Some of us are fortunate to find a calling in life early on, and for Vivienne Tam it was literally by design. The 60- year-old designer, who was born in Guangzhou, China and moved to Hong Kong when she was three, eventually landed in New York City, where she founded her company, East Wind Code, in 1982. More than 10 years later, she renamed the company Vivienne...

  • SINGAPORE, Dec 14- Oil markets rose on Thursday, lifted by a fourth straight weekly fall in U.S. crude inventories, though climbing output capped prices well below the 2015 highs reached earlier this week. West Texas Intermediate crude futures were at $56.69 a barrel at 0545 GMT, up 9 cents, or 0.2 percent, from their last settlement. Brent crude futures, the...

  • MELBOURNE, Dec 14- Australia's financial crimes watchdog has added more than 100 new claims against the Commonwealth Bank of Australia for failing to comply with anti-money laundering laws, including late reporting of attempts to wire money as recently as August by an individual convicted of terror-related offenses. "These allegations are very serious and...

  • KUALA LUMPUR, Dec 14- Demand for palm oil is likely to stay weak in December despite a recent slide in prices, said traders in No. 2 producer Malaysia, though exports from the country are seen rebounding in January as China stocks up ahead of the Lunar New Year. "Everyone usually banks on India for demand, but the duty increase has made everything slow, so the prospect of...

  • *May raise as much as $5.3 bln by 2025. TOKYO, Dec 14- Japanese e-commerce firm Rakuten Inc said it would apply for a 4 G mobile license, aiming to become the country's fourth major wireless carrier in a strategic shift that had analysts warning of an uphill battle to gain customers. Rakuten, which operates one of Japan's most popular shopping websites, said it hoped to...

  • *Selling 12 mln ADS at between $9 and $11 each- new filing. HONG KONG, Dec 14- Chinese consumer lending firm Lexinfintech has slashed the size of its U.S. initial public offering by two-thirds to a maximum possible $151.8 million, following a recent crackdown by Beijing on fast-growing online micro-lenders. Lexinfintech, which focuses on loans to educated young...

  • The IRS says taxpayers could begin seeing less money withheld from their paychecks "as early as February" if Congress passes a Republican tax overhaul plan this month. The agency says in a statement released Wednesday night that it "is continuing to closely monitor the pending legislation in Congress," and "taking the initial steps to prepare guidance on...

  • LONDON— The Bank of England is set to keep its main interest rate unchanged at 0.50 percent on Thursday, a month after increasing borrowing costs for the first time in a decade to contain a rise inflation stoked by last year's Brexit vote. The initial impact of the pound's fall following the vote to leave the European Union— it raised the price of imported goods like...

  • SHANGHAI, Dec 14- China's yuan rose to its strongest level against the U.S. dollar in two weeks on Thursday after a widely anticipated U.S Federal Reserve interest rate hike prompted dollar weakness, but corporate clients snapping up the greenback limited its gains. The People's Bank of China nudged money market interest rates up just hours after the Fed's...

  • SEOUL, Dec 14- South Korea aims to expand the share of renewables and also natural gas in its fuel mix to gradually cut back its high dependence on coal and nuclear power over the 15 years to 2031, the energy ministry said on Thursday. Despite efforts to boost renewables and natural gas, however, South Korea's power generation mix will remain dominated by nuclear...

  • *China Jan-Nov property investment +7.5 pct y/y. BEIJING/ SHANGHAI, Dec 14- China's central bank on Thursday nudged up money market rates as authorities sought to defuse financial risks without imperiling the economy, a balancing act that it has managed successfully so far this year as activity remained broadly steady. The move by the People's Bank of China is...

  • SINGAPORE, Dec 14- Airbus SE is considering cutting production of its A380 superjumbo to six or seven planes a year, but has made no final decision on the matter, a top executive said on Thursday amid growing question marks over the future of the double-decker jet. "We believe we can produce this aircraft at 6-7 a year in an industrial way," Airbus Chief Operating...

  • *Spot gold may test resistance at $1,262/ oz- technicals. "The dollar is taking a softer turn here in Asia. We're seeing Shanghai come in and buying, "a Hong Kong- based trader said.

  • SHANGHAI, Dec 14- China and Hong Kong stocks fell modestly on Thursday morning, as investors shrugged off the Federal Reserves' widely expected U.S. rate hike as well as China's nudging-up of some rates and tepid November economic data. **Hong Kong's central bank raised base rate by 25 basis points, while China's central bank nudged money market rates upward by 5...

  • BEIJING— China's central bank responded to the U.S. The People's Bank of China said it was responding to market forces by raising the rate charged by its one-year lending facility by 0.05 percentage points to 3.25 percent. Beijing has tightened controls on the movement of money out of China to stop an outflow of capital, which could be worsened if higher U.S. rates...

  • BEIJING, Dec 14- Growth in China's property investment cooled in November as an official crackdown on riskier lending and stiffer regulation of the real estate market took effect. Property investment growth eased for a second straight month to 4.6 percent in November from a year earlier, the slowest pace since July 2016, Reuters calculated from National...

  • SHANGHAI, Dec 14- China's central bank raised money market interest rates on Thursday hours after the Federal Reserve increased U.S. rates. The People's Bank of China has moved to a slight tightening bias this year following six benchmark interest rate cuts in 2014-2015 as the economy stabilizes and the focus turns toward credit risk. The benchmark one-year...