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Wires

  • *Saudi Arabia detained scores in corruption crackdown. RIYADH/ DUBAI, Feb 20- Three months after Saudi Arabia detained scores of people in a crackdown on corruption, its rulers are trying to reassure investors that the kingdom remains open for business. "This is not a recommendation for why you should invest in Saudi Arabia," said a Western businessman with...

  • NEW YORK, Feb 20- Throughout 2016 and 2017, a rail terminal built to accept crude oil for the largest East Coast refinery often sat idle, with few trains showing up to unload. Under a deal Philadelphia Energy Solutions signed in 2015, the refiner paid minimum quarterly payments of $30 million to terminal owner North Yard Logistics LP- even if little crude arrived.

  • BANGKOK— Protesters in the Thai capital seeking to stop construction of coal-fired power plants in the country's south have claimed victory, as the Energy Ministry agreed to order new assessments of the health and environmental impacts of the projects. About three dozen demonstrators who had been holding a hunger strike ended their protest Tuesday after...

  • LAUNCESTON, Australia, Feb 20- If China does seek a way to retaliate against U.S. proposals to impose import curbs on steel and aluminum, then targeting President Donald Trump's favored coal would be tempting. But the problem is that virtually all of the good news for U.S. coal producers is on the export side- and this is mainly a China phenomenon.

  • Underlying profit for the half year ended Dec. 31 rose to $4.05 billion from $3.24 billion a year ago. That missed a forecast of $4.30 billion, according to Thomson Reuters I/B/E/S. The miner declared an interim dividend of $0.55 per share, up from $0.40 a share last year.

  • MINNEAPOLIS— Minnesota officials will soon try to convince a jury that manufacturer 3 M Co. should pay the state $5 billion to help clean up environmental damage that the state alleges was caused by pollutants the company dumped for decades. Experts say it could have wide-reaching implications if the state succeeds, in part because 3 M and other companies...

  • Europe's biggest lender by market capitalisation, on Chief Executive Stuart Gulliver's last day on the job on Tuesday, also announced plans to further bolster its capital base by raising up to $7 billion in the first half of 2018.. HSBC reported a profit before tax of $17.2 billion for 2017, compared with $7.1 billion the year before but below the $19.7 billion...

  • *Overall markets well supported by ongoing OPEC production cuts. SINGAPORE, Feb 20- Oil markets were split on Tuesday, with U.S. crude pushed up by reduced flows from Canada while international Brent prices eased. West Texas Intermediate crude futures were at $62.16 a barrel at 0153 GMT, up 48 cents, or 0.8 percent, from their last settlement.

  • *Overall markets well supported by ongoing OPEC production cuts. SINGAPORE, Feb 20- Oil markets were split on Tuesday, with U.S. crude pushed up by reduced flows from Canada while international Brent prices eased. West Texas Intermediate crude futures were at $62.38 a barrel at 0518 GMT, up 70 cents, or 1.1 percent, from their last settlement.

  • *PNG LNG expansion to double capacity. MELBOURNE, Feb 20- Global giants ExxonMobil Corp and France's Total SA have reached broad agreement on plans to double gas exports from Papua New Guinea, their partner Oil Search Ltd said on Tuesday. The plan to expand the ExxonMobil-operated Papua New Guinea liquefied natural gas plant to around 16 million tonnes per annum...

  • *Japan welcomes U.S. becoming positive toward TPP- Umemoto. TOKYO, Feb 20- Japan welcomes a positive stance by the United States toward an Asia-Pacific trade pact, but indicated that altering the agreement at this point would be very difficult. Japan's chief negotiator for the Trans-Pacific Partnership, Kazuyoshi Umemoto, told Reuters that an agreement among...

  • NEW DELHI— The eldest son of President Donald Trump has arrived in India to help sell luxury apartments and lavish attention on wealthy Indians who have already bought units in Trump-branded developments. The organization has five projects in India, making it the brand's largest market outside the United States. A luxury complex is already open in the central...

  • HOUSTON, Feb 20- Some publicly-traded U.S. energy pipeline and oil-storage partnerships are restructuring into simpler business models to help attract new investors and spur growth. MPLX Energy Logistics LP, for instance, paid a 9.7 percent annualized distribution last quarter to its holders, up from 7.9 percent a year earlier, according to figures from...

  • *Warns of annual loss in range of $4.78 bln to $4.98 bln. SINGAPORE, Feb 20- A massive annual loss estimate by commodities trader Noble Group makes it more likely that creditors will back its $3.4 billion debt-for-equity restructuring to ensure the company's survival, analysts said. In a statement, Singapore- listed Noble highlighted challenging operating...

  • HONG KONG— HSBC says its annual pretax profits rose by 11 percent on strong earnings from Asia, in the latest sign that the London- based global bank's restructuring to focus even more on the region is reaping further dividends. Chairman Mark Tucker said HSBC forecasts "reasonable growth" for the world's major economies in 2018, though he warned about rising...

  • *China Enterprises index HSCE eases 0.2 pct. HONG KONG, Feb 20- Hong Kong's benchmark Hang Seng index edged up at midday on Tuesday as the city's markets reopened after the Lunar New Year holiday, while the index of China's H-shares index fell. **Around the region, MSCI's Asia ex- Japan stock index was flat percent while Japan's Nikkei index was down 0.9 percent.

  • HONG KONG, Feb 20- HSBC Holdings' 2017 pre-tax profit rose 142 percent as the lender avoided the multi-billion dollar restructuring costs that marred its 2016 results but the profit growth lagged expectations as it took a writedown following U.S. tax changes. Europe's biggest bank by market capitalisation reported on Tuesday a profit before tax for 2017 of...

  • LAS VEGAS— The new CEO of Las Vegas- based Wynn Resorts said he was not aware of any of the sexual misconduct accusations against casino mogul Steve Wynn before they surfaced last month. Wynn Resorts is facing scrutiny by gambling regulators in Nevada and Massachusetts, where the company is building a roughly $2.4 billion casino just outside Boston.

  • *Japan market currently hobbled by stringent rules. TOKYO, Feb 20- Sony Corp said on Tuesday it would become the latest blue-chip firm to jockey for position in Japan's taxi and ride-hailing market, with plans for a joint venture to develop an artificial intelligence-based hailing system. This month, SoftBank Group Corp and China's Didi Chuxing said they would...

  • *Spot gold has good chance of breaking down to $1,326/ oz- technicals. Spot gold was down 0.4 percent at $1,341.20 an ounce. Earlier, it fell to as low as $1,340.16, the lowest since Feb. 14.