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Wires

  • MILAN— Milan has long been the world's ready-to-wear fashion leader. The line includes cashmere knits, nylon bomber jackets with tiny arms, Sherlock Holmes- style capes and lined raincoats. The capes cost 170 euros ( $208 and synthetically filled hooded parkas go for 210 euros ( $256) to reflect the extra time it takes to get the fine stitching on the elasticized...

  • Jan 16- Wall Street's main indexes rose sharply on Tuesday, with the Dow hitting the 26,000 mark for the first time, as the fourth-quarter earnings season kicked into high gear. Citigroup Inc jumped 1.4 percent after the lender reported profit that topped Wall Street expectations as strength in consumer businesses made up for lower revenue from bond and...

  • LONDON, Jan 16- Palladium, the hottest property in the precious metals deck last year, is tipped for a record performance in 2018 even among bearish forecasters, but the metal could become a victim of its own success. That helped send prices above $1,000 an ounce last year for the first time since 2001, and to a record $1,138 this week. So far, pressure on palladium's...

  • LONDON, Jan 16- Palladium, the hottest property in the precious metals deck last year, is tipped for a record performance in 2018 even among bearish forecasters, but the metal could become a victim of its own success. That helped send prices above $1,000 an ounce last year for the first time since 2001, and to a record $1,138 this week. So far, pressure on palladium's...

  • BUENOS AIRES, Jan 16- Argentina will not call extraordinary congressional sessions in February, Cabinet Chief Marcos Pena said in a press conference on Tuesday, effectively postponing the debate over a planned labor reform until at least March. The reform, which aims to lower costs for employers and formalize the situation of unregistered workers, was sent to...

  • Qualcomm forecast adjusted per share profit to be between $6.75 and $7.50 on a revenue of $35 billion to $37 billion in 2019.. Analysts on an average expected a profit of $3.79 per share on revenue of $23.59 billion, according to Thomson Reuters I/B/E/S. Shares of the San Diego, California- based Qualcomm rose 2.2 pct to $66.84 in early trading.

  • SANDEFJORD, Norway, Jan 16- Norway has awarded a record 75 offshore oil exploration licences, to Statoil, Aker BP Shell, Total and ConocoPhillips among others, the energy ministry said on Tuesday. The licenses comprised 45 in the North Sea, 22 in the Norwegian Sea and eight in the Barents Sea and were awarded in a so-called annual predefined areas licensing round,...

  • *Canadian dollar at C $1.2414, or 80.55 U.S. cents. TORONTO, Jan 16- The Canadian dollar edged higher against its broadly firmer U.S. counterpart on Tuesday as investors braced for a potential interest rate hike from the Bank of Canada on Wednesday. At 9:24 a.m. EST, the Canadian dollar was trading 0.1 percent higher at C $1.2414 to the greenback, or 80.55 U.S. cents.

  • Stocks are opening higher on Wall Street as investors return from a long holiday weekend and size up the latest company earnings and deal news. Citigroup rose 1.6 percent after the bank reported higher earnings as well as an accounting charge related the new tax law. Energizer Holdings surged 16.5 percent after the company said it will acquire the battery and...

  • LONDON, Jan 16- Vitol will get 1.5 to 2 million barrels of crude per month from Algeria's state oil firm Sonatrach and deliver fuel to the country in exchange, in a rare such deal for the OPEC member, trade sources familiar with the matter told Reuters. The deal will kick off on Feb. 1 with the world's largest oil trader loading a 1 million barrel cargo, one of the sources...

  • TORONTO, Jan 16- Canada's main stock index edged lower in early trade on Tuesday, as gold miners and other materials stocks weighed while marijuana producers extended their latest rally.

  • DETROIT, Jan 16- General Motors Co shares rose on Tuesday after the company said 2018 earnings will be largely flat compared with 2017 and forecast higher profits in 2019 when its revamped line of high-margin pickup trucks hits the U.S. market. GM forecast 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

  • Jan 16- The Dow Jones Industrial Average touched the 26,000- mark for the first time on Tuesday and other Wall Street indexes climbed as strong earnings from UnitedHealth and Citigroup helped lift the sentiment. The Dow Jones Industrial Average rose 198.99 points, or 0.77 percent, to 26,002.18. The S&P 500 gained 13.76 points, or 0.493856 percent, to 2,800. The...

  • BRUSSELS, Jan 16- EU regulators are searching for ways to increase recycling of plastic, as waste piles up in ports after China banned imports of "foreign garbage" from the start of 2018.. Announcing a new policy push on Tuesday, European Commission Vice President Jyrki Katainen said Brussels is mulling a tax on plastic packaging, more curbs on throw-away items...

  • FRANKFURT, Jan 16- The European Central Bank is unlikely to ditch a pledge to keep buying bonds at next week's meeting as rate setters need more time to assess the outlook for the economy and the euro, three sources close to the matter said. But three sources on or close to the ECB's policy-making Governing Council said any fundamental change to the guidance was...

  • *Wall Street to play catch-up as EU keeps rally rolling. LONDON, Jan 16- Asia and Europe's big bourses kept world shares on their record-breaking run on Tuesday, although a steadier dollar halted the sizzling start to the year for the euro, yen and yuan and sent metals markets skidding. Wall Street traders were ready for another set of highs having seen MSCI's world...

  • *Qatar had tumbled on Monday after UAE alleged aviation incidents. *Oman's Al Izz Islamic Bank surges after net loss narrows. DUBAI, Jan 16- Qatar's stock market rebounded on Tuesday, erasing a sharp fall suffered on the previous day, while other major Gulf bourses were firm on the back of strong oil prices after Brent crude rose above $70 a barrel for the first time...

  • MOSCOW— Russian President Vladimir Putin's economic adviser says the government is considering a possible boost in social spending. Andrei Belousov was quoted by Russian news agencies as saying that the government is considering increasing allocations for education, health care and infrastructure. Alexei Kudrin, the former finance minister and...

  • Jan 16- Citigroup Inc on Tuesday reported quarterly profit that topped Wall Street expectations as growth in its global consumer banking business, led by solid gains in Asia and Latin America, made up for lower trading revenue. The lender said it booked a one-time charge of $22 billion stemming from changes in a new U.S. tax law, which resulted in a loss of $18.3...

  • BEIRUT, Jan 16- Rating agency Moody's forecast Lebanon's economy will grow 2.8 percent in 2018, slightly faster than last year thanks to the resumption of long-delayed public investment projects. Lebanon, where crumbling infrastructure has not been overhauled since the end of a 15- year civil war in 1990, has plans for a 10- year $16 billion capital...