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  • Oct 15- European authorities are placing Zhejiang Huahai Pharmaceutical Co Ltd under higher supervision, the European Medicines Agency said on Monday, in the latest crackdown on the Chinese firm after a probable carcinogen was found in its blood pressure drug valsartan. European authorities said late last month they had found that Huahai did not comply with...

  • "It was definitely a surprise when some of the other banks had better-than-expected loan growth," said R.J. Grant, head of trading at Keefe, Bruyette& Woods. Bank of America's total loan book grew 0.3 percent to $930 billion during the third quarter compared with the year-ago period. On a conference call with reporters, Chief Financial Officer Paul Donofrio said...

  • WASHINGTON, Oct 15- U.S. retail sales barely rose in September as a rebound in motor vehicle purchases was offset by the biggest drop in spending at restaurants and bars in nearly two years. But other details of the report from the Commerce Department on Monday were upbeat and suggested that consumer spending ended the third quarter with strong momentum, which...

  • Oct 15- Occidental Petroleum Corp said on Monday it would no longer pursue extension of the Idd El-Sharghi North Dome offshore oilfield in Qatar, sending its shares down more than 5 percent. The company estimated free cash flow for ISND in 2018 to be less than $300 million with production of 51,000 barrels of oil equivalent per day. Occidental's shares fell 5.2...

  • NEW DELHI, Oct 15- Global oil major BP said on Monday fuel price controls were "not good," days after India asked state-run fuel retailers to shield customers from record-high costs by cutting margins. He did not comment on when BP would open its first fuel retail outlet in India in partnership with Reliance. India cut taxes on diesel and gasoline this month and asked...

  • BENGALURU, Oct 15- Gold rose to its highest in 2-1/ 2 months on Monday as a slide global stock markets, exacerbated by mounting tensions between western powers and Saudi Arabia, forced investors to find safety and unwind some bearish bets in the metal. Spot gold was 0.8 percent at $1,227.97 per ounce at 1552 GMT, having earlier climbed more than 1 percent to touch a...

  • *FTSE 100 up 0.5 pct; midcaps down 0.9 percent. *Financials lead FTSE 100 losers. The FTSE 100 reversed early losses to climb 0.5 percent while the domestically focused mid-cap index fell 0.9 percent, dragged down by profit warnings from ConvaTec and Superdry.

  • CAIRO, Oct 15- Egypt, the world's largest wheat importer, is studying the possibility of hedging against the rise in global prices of the grain, Supply Minister Ali Moselhy said on Monday. Moselhy also said Egypt would need around 400,000 to 500,000 tonnes of rice imports but that the ministry was still evaluating its needs and would not import from only one origin.

  • PARIS, Oct 15- AstraZeneca will keep its freeze on manufacturing investments in Britain if the country's exit from the European Union fails to give enough clarity on future trading relations, the drugmaker's chairman was quoted as saying on Monday. "A Brexit agreement will need to ensure that Britain does not become an isolated island in the middle of the...

  • *IEA cuts forecasts for oil consumption and demand for OPEC crude. NEW YORK, Oct 15- Oil prices steadied on Monday, supported by geopolitical tension over the disappearance of a Saudi journalist, which has stoked worries about supplies from the world's top crude exporter, but weighed by a falling equities market and concern over long-term demand outlook.

  • LONDON, Oct 15- Sterling held near a one-week low on Monday as Brexit negotiations faltered before a crucial European Union summit later this week. Less than six months before Britain leaves the bloc negotiators from both sides are trying to overcome the biggest hurdle to a deal- how to keep the UK frontier with the Irish Republic free of border checks after...

  • *Portugal gains investment grade rating from Moody's. LONDON, Oct 15- Portuguese and Italian government bond yields fell on Monday, outperforming euro zone peers after Moody's ratings agency upgraded Portugal by one notch, back to investment grade, and Italy's budget plans came back into focus. The move is unlikely to unlock major flows of capital as Portugal is...

  • AMSTERDAM, Oct 15- The Dutch financial markets regulator, already scrambling to process a flurry of relocation requests from UK- based companies, will need about 10 percent more staff to cope with the extra work caused by Brexit, sources close to the matter told Reuters. Amsterdam is competing with European Union cities including Frankfurt, Paris and Dublin to...

  • Oct 15- Kazatomprom, the world's biggest uranium producer, said it will float up to a 25 percent stake in its planned initial public offering in London and Kazakhstan, as it looks to cash in on robust demand for the rare metal. The IPO is part of an ambitious privatisation programme set by Kazakhstan after Central Asia's biggest economy was hard hit by the fall in...

  • ORLANDO, Fla., Oct 15- The latest features of corporate jets, from high-end technology to hot showers at 40,000 feet, are on display at a flagship industry show in Orlando this week, where planemakers expect booming demand, helped by U.S. Tax changes that allow deductions for corporate jets have traditionally stimulated demand for pre-owned planes, "which then...

  • *Apple drops 1.6 pct after Goldman Sachs warns on China demand. Among the biggest drag on the three major indexes was Apple, which fell 1.6 percent after Goldman Sachs said there were multiple signs of rapidly slowing consumer demand in China, which could affect demand for iPhones this fall. With the third-quarter earnings season entering high gear this week,...

  • ORLANDO, Fla., Oct 15- Dassault Aviation Chief Executive Eric Trappier said on Monday the French planemaker will raise production rates slightly on certain business jet models, including its Falcoln 8 x and 2000 jets, in a sign of broader industry demand for corporate aircraft. We are at the moment increasing a little bit our rate of production, Trappier told...

  • CAIRO, Oct 15- Shares in Egypt's Sarwa Capital fell 15.1 percent on their first day of trading on the Egyptian stock exchange, bourse data showed on Monday. Sarwa's shares began trading at 7.36 Egyptian pounds per share after a public and private offering worth 2.17 billion Egyptian pounds. Four companies listed in Cairo in the first nine months of this year in...

  • The workers, represented by the National Union of Metal Workers of South Africa, are demanding the same rights as those in the engineering sector represented by the Metal and Engineering Industries Bargaining Council. NUMSA's spokeswoman Phakamile Hlubi-Majola said the union members' grievances included a reduction in the minimum wage from 40 rand to 20...

  • WASHINGTON, Oct 15- More than 80 percent of Lockheed Martin Co-made F-35 fighter jets in the United States and around the globe have cleared engine inspections and are now okayed for flight operations after engine inspections, the Pentagon said on Monday.