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Wires

  • *China economy seen growing 6.7 pct y/y in Q4, vs 6.8 pct in Q3. BEIJING, Jan 18- China is expected on Thursday to post a modest slowdown in fourth quarter economic growth from the previous three months as the government extended a crackdown on debt risks and factory pollution. "It will be surprising if Q4 growth turns out to be 6.9 percent," said Li Huiyong, an economist at...

  • BEIJING/ SINGAPORE, Jan 17- China's fuel blending companies and independent refineries will bear the brunt of new tax rules that will close loopholes that allegedly allowed them to sell fuel without paying consumption taxes. The rules address a long-held complaint by China's state-owned oil companies that the privately owned refiners and blenders have...

  • HOUSTON, Jan 17- SandRidge Energy Inc met with activist investor Carl Icahn on Wednesday over his demands for a board shake-up and other governance changes, part of a bid by the U.S. shale oil producer to quell tensions with its largest shareholder and most outspoken critic. A week ago, in a letter referencing the Wednesday meeting, Icahn called on the Oklahoma City-...

  • Jan 17- Aluminum producer Alcoa Corp's profit and revenue both missed market estimates for the fourth quarter as a drought in Brazil hit bauxite production and higher power prices in Spain boosted expenses, the company said on Wednesday. The company said the drought in Brazil led to an acute water shortage that not only hit its bauxite business, but also...

  • Federal Reserve Board said on Wednesday it had fined Taiwan's Mega International Commercial Bank Co. $29 million for anti-money laundering violations and required the company to improve its anti-money laundering oversight and controls. The bank operates branches in New York, Illinois and California. New York state authorities in 2016 slapped Mega...

  • CALGARY, Alberta, Jan 17- Canadian regulators on Wednesday ordered Husky Energy to suspend operations on its 27,000- barrel-per-day SeaRose floating production vessel off the coast of eastern Canada after an iceberg came too close to the facility in March 2017. The Canada- Newfoundland and Labrador Offshore Petroleum Board made its decision after an...

  • RABAT, Jan 17- Morocco should have a national dialog about the benefits and risks of its new flexible currency system, which will stoke inflation, the head of the state High Planning Commission told Reuters on Wednesday. A lower dirham could stoke inflation as Morocco imports some of its food needs, hurting the poor. He said Morocco would have to spend more next year...

  • RABAT, Jan 17- Morocco should have a national dialogue about the benefits and risks of its new flexible currency system, which will stoke inflation, the head of the state High Planning Commission told Reuters on Wednesday. A lower dirham could stoke inflation as Morocco imports some of its food needs, hurting the poor. He said Morocco would have to spend more next...

  • NEW YORK, Jan 17- Verizon Communications Inc said on Wednesday the tax overhaul bill signed into law by U.S. Verizon estimates that the impact of the law to earnings per share for the year ended Dec. 31 is about $4.10. Verizon also said it expects a separate accounting change implemented on Jan. 1, 2018 to increase pre-tax retained earnings by $4 billion to $4.6...

  • MORRISVILLE, Vt. _ Union Bankshares Inc. on Wednesday reported fourth-quarter profit of $1.9 million. The Morrisville, Vermont- based bank said it had earnings of 43 cents per share. For the year, the company reported profit of $8.4 million, or $1.89 per share.

  • CALGARY, Alberta, Jan 17- Canadian regulators on Wednesday ordered Husky Energy to suspend operations on its 27,000- barrel-per-day SeaRose floating production vessel off the coast of eastern Canada after an iceberg came too close to the facility in March 2017. The Canada- Newfoundland and Labrador Offshore Petroleum Board made its decision after an...

  • A strong operating performance in the first half allowed us to capture the benefit of higher prices, BHP Chief Executive Andrew Mackenzie said in the groups quarterly operations review. However, uncertainty over Chinese demand has led to forecasts for prices to fall to between $51 and $64 a tonne as the year progresses. Spot iron ore last traded below $52 in June...

  • Stocks closed broadly higher Wednesday, sending the Dow Jones industrial average to its first close above 26,000 points. The rally also delivered record highs for the Standard& Poor's 500 index and the Nasdaq composite, wiping out the market's modest losses from a day earlier. The Russell 2000 index of smaller-company stocks picked up 13.69 points, or 0.9...

  • WASHINGTON, Jan 17- Chinese automaker GAC Automobiles' plan to sell vehicles in the United States ran afoul of Washington trade politics on Wednesday, as the top U.S. Senate Democrat and U.S. GAC Automobiles, formally known as Guangzhou Automobile Group Co Ltd, said Monday it plans to start selling vehicles in the United States in late 2019, potentially through a...

  • NEW YORK— Media mogul Rupert Murdoch hurt his back in a recent sailing accident, according to a note provided to The Associated Press. The 86- year-old sent a note last week to senior colleagues at his companies, 21st Century Fox and News Corp., saying he will be working from home for weeks because of the injury, according to a person with knowledge of the email who was...

  • PALM BEACH, Fla., Jan 17- The U.S. economy should grow at a good clip this year, boosted by tax cuts, two Fed officials said on Wednesday, though they disagreed on how close the economy is to overheating and the need for rate hikes this year. "2018 is going to be a good year," Dallas Federal Reserve Bank President Robert Kaplan said at an American Council of Life Insurers...

  • NEW YORK, Jan 17- Bitcoin was seen as coming to the big leagues with the launch of U.S. futures trading in December. On Wednesday, the official auction price for bitcoin on the Gemini Exchange was $10,900, compared with an auction price of $17,285.89, on Dec. 11, the first full day of Cboe bitcoin futures trading. Speculators' net short position on bitcoin Cboe futures...

  • Jan 17- The Dow Jones Industrial Average closed above 26,000 for the first time on Wednesday, just eight trading days after it ended above 25,000 for the first time. Here are some recent facts about the index:- The Dow, a price-weighted index, is up 4.2 percent since the Jan. 4 close, and up 5.6 percent since Dec. 31. gainer since the Jan. 4 close, contributing almost 375...

  • NEEDHAM, Mass. _ PTC Inc. on Wednesday reported fiscal first-quarter net income of $13.9 million, after reporting a loss in the same period a year earlier. For the current quarter ending in April, PTC Inc. expects its per-share earnings to range from 28 cents to 32 cents. PTC Inc. expects full-year earnings in the range of $1.29 to $1.39 per share, with revenue...

  • BOSTON _ Boston Private Financial Holdings Inc. on Wednesday reported a fourth-quarter loss of $18.3 million, after reporting a profit in the same period a year earlier. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share. Three analysts surveyed by Zacks expected $100.1 million.