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  • PARIS, April 24- Franco-Italian chipmaker STMicroelectronics cut its full-year spending target as it adjusts finances to the global shrinkage in demand from the smartphone and tech industries. STMicro said it now had a capital expenditure plan in the range of $1.1 billion to 1.2 billion in 2019, down from $1.3 billion initially. The Geneva- based company,...

  • PARIS, April 24- French industrial confidence fell in April to its lowest level in nearly three years although overall business sentiment held steady, a survey showed on Wednesday. The INSEE official statistics agency said its industrial confidence index fell to 101 points- the lowest since June 2016- from 103 in March, which was revised down from a preliminary...

  • PARIS, April 23- German carmaker BMW will buy cobalt, a key component for electric vehicle batteries, directly from mines in Australia and Morocco to ensure they are not produced by child labour, an executive said on Tuesday. Andreas Wendt, BMW board member responsible for procurement, told a briefing in Paris that the new supply of cobalt would be used in the...

  • TOKYO, April 24- For Japan's Zozo Inc, a brash online fashion retailer, 2018 marked a turning point, but not in the way that anyone had hoped. Adding to its woes, fashion brands that helped make the reputation of Zozo's billionaire founder and CEO Yusaku Maezawa became increasingly unhappy with what they saw as excessive discounting at its core Zozotown online mall.

  • TOKYO, April 24- Japan's Nikkei edged lower in choppy trade on Wednesday as investors stayed cautious before earnings results, but it remained around a 4-1/ 2- month high as sentiment was supported by a rally in U.S. stocks. Nissan Motor Co tumbled 4 percent after TV Tokyo reported on late Tuesday that it would announce a large cut to its earnings outlook for the...

  • *Sets investor day for Nov. 12, considers share buybacks. FRANKFURT, April 24- German business software company SAP set ambitious new medium-term profit targets on Wednesday as it reported a first-quarter operating loss that chiefly arose from a restructuring charge. SAP, Europe's most valuable technology company, wants to expand its adjusted operating...

  • SHANGHAI, April 24- Equity markets in Asia faltered on Wednesday amid losses in South Korea and uncertainty over China's plans for further stimulus as the economy shows signs of regaining its footing. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.3 percent lower, erasing early gains in the wake of record closing highs on Wall Street...

  • Spot gold was down 0.2 percent at $1,269.93 per ounce by 0602 GMT, having hit its lowest since the end of last year at $1,265.90 in the last session. "The major factor that is pressuring gold prices is the strength of the dollar, which is also pressuring physical demand," said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong. The dollar index hovered...

  • LONDON, April 24- British online fashion retailer Boohoo reported a better-than-expected 49 percent jump in annual profit on Wednesday, bucking the trend in a tough market for clothing retailers as its affordable fashion chimed with consumers. The group, which targets 16-30 year olds with its Boohoo, Nasty Gal and PrettyLittleThing brands, reported a pretax...

  • TOKYO, April 24- Japanese Emperor Akihito's abdication on April 30 will end the three-decade Heisei era that began on Jan. 8, 1989, one day after he inherited the throne upon the death of his father, Hirohito. Japan's "bubble economy" of soaring asset prices was in its final stages when Akihito ascended the throne. Japan, which had been the world's second-largest...

  • *USA exports 1st crude oil cargo to Indonesia. SINGAPORE, April 24- Oil prices fell on Wednesday amid signs that global markets remain adequately supplied, despite a jump to 2019 highs this week on Washington's push for tighter sanctions against Iran. Crude oil prices for spot delivery rose to 2019 highs earlier in the week after the United States said on Monday it...

  • PARIS, April 24- French catering company Elior said it had received a firm offer of 1.542 billion euros from private equity firm PAI Partners for its' Areas' concession catering business, as Elior sells off non-core assets to improve its performance. Elior said it expected to close the sale during this summer, and added it would use the proceeds of the deal to cut its...

  • PARIS, April 24- Franco-Italian chipmaker STMicroelectronics cut its full-year investment target on Wednesday after posting a fall in quarterly sales and profits, signaling a prolonged downturn in global chip demand. The Geneva- based company said it now had a capital expenditure plan in the range of $1.1 billion to 1.2 billion in 2019, down from $1.3 billion...

  • PARIS, April 24- French spirits company Remy Cointreau reported higher annual sales and kept its target for profit growth for the full year, although demand for its premium cognac slowed down in China during the final quarter. The maker of Remy Martin cognac and Mount Gay rum, which is trying to sell more of its higher priced spirits to boost profit, said sales came...

  • *Hyundai Q1 net profit 829 bln won, vs 668 bln year earlier. The rise in profit, from an eight-year low hit a year ago, comes after Hyundai recently flagged plans to suspend production at its oldest plant in China as it grapples with massive overcapacity in its biggest market. Hyundai posted a first-quarter net profit of 829 billion won, versus 668 billion won a year...

  • *GRAPHIC: Australia coal exports vs price: https://tmsnrt.rs/2DwssEf. LAUNCESTON, Australia, April 24- A change in South Korea's energy policy should have absolutely no bearing on the current Australian election campaign, but it should, as it's a stark warning to politicians who still see a rosy future for coal mines and exports. Australia is the world's largest...

  • *Sets investor day for Nov. 12, mulls share buybacks. FRANKFURT, April 24- German business software company SAP set ambitious new mid-term targets on Wednesday to boost profit margins as it reported a first-quarter operating loss that chiefly resulted from a restructuring charge. SAP, Europe's most valuable technology company, wants to expand its adjusted...

  • SHANGHAI, April 24- China stocks fell on Wednesday morning, amid new signs the central bank is putting on hold broad policy easing measures, dashing hopes for fresh large-scale liquidity pumps into the financial system. **Hong Kong stocks also fell, despite Wall Street hitting fresh closing highs. **The People's Bank of China injected funds to select commercial...

  • SINGAPORE, April 24- Industrial metals in Shanghai fell on Wednesday following declines in London overnight, while fears that China may ease its economic stimulus dampened sentiment. In the Shanghai Futures Exchange, there's also some selloff pressure, mainly because of the possibility that China may scale back its monetary easing, "said analyst Helen Lau of...

  • SINGAPORE, April 24- Indonesia's state-owned energy company Pertamina has bought its first ever cargo of U.S. crude oil, which is set to arrive at one of its refineries in June, a source with knowledge of the matter said on Wednesday. The shipment of close to 600,000 barrels of West Texas Intermediate Midland crude was loaded onto the Aframax tanker China Dawn on...