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Wires

  • *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...

  • 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 $56.77 a barrel at 00344 GMT, up 17 cents, or 0.3 percent, from their last settlement. Brent crude futures, the...

  • *China lifts market rates after Fed's move. *Major currencies take China's higher rates in stride. There was limited reaction among major currencies after China raised interest rates marginally, in the wake of the Fed's move.

  • 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...

  • Dec 13- General Motors Co said on Wednesday Joseph Ashton, a former United Auto Workers vice president who led the union's GM department, has resigned from the company's board. The U.S. Justice Department is looking into the use of money at UAW managed training centers funded by GM and Ford Motor Co, and into charities established by senior UAW officers.

  • *Liberty House building its aluminium portfolio. SYDNEY/ LONDON, Dec 14- Liberty House, the industrial and commodities group buying a number of steel assets around the world, is considering a bid for Rio Tinto's aluminium smelter in northern France, the largest in Europe, three sources with direct knowledge of the matter told Reuters. Liberty House, which is headed...

  • *Liberty House building its aluminum portfolio. SYDNEY/ LONDON, Dec 14- Liberty House, the industrial and commodities group buying a number of steel assets around the world, is considering a bid for Rio Tinto's aluminum smelter in northern France, the largest in Europe, three sources with direct knowledge of the matter told Reuters. Liberty House, which is headed by...

  • *China raises market rates by 5 bps. SHANGHAI, Dec 14- China's central bank nudged money market interest rates upward on Thursday just hours after the Federal Reserve raised the U.S. benchmark, as Beijing seeks to prevent destabilizing capital outflows without hurting economic growth. China's major stock indexes declined modestly after the news, with...

  • SINGAPORE, Dec 14- China's primary aluminum production fell for a fifth consecutive month in November, official data showed on Thursday, as the country's winter restrictions on smelters pushed output to its lowest since February 2015. In a first for China's aluminum industry, smelters in 28 northern Chinese cities were told to cut output by at least 30 percent...