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  • GASOLINE FUTURES PARE GAINS AFTER EIA DATA SHOWS SURPRISE BUILD IN INVENTORIES.

  • President Donald Trump's top trade official laid down a hard negotiating line for revamping the North American Free Trade Agreement on Wednesday, saying that major changes were needed to slash U.S. trade deficits and boost U.S. content in autos. Trade Representative Robert Lighthizer said NAFTA had "failed many, many Americans" and Trump was not interested in...

  • KHOBAR, Saudi Arabia, Aug 16- Saudi Basic Industries Corp has completed the purchase of the 50 percent that it did not already own in its petrochemical venture with Shell Arabia, a unit of Royal Dutch Shell, for $820 million, SABIC said on Wednesday. "Completion of this deal shows the clear momentum behind Shells global, value-driven $30 billion divestment...

  • JERUSALEM/ LONDON/ FRANKFURT, Aug 16- Teva Pharmaceutical Industries is looking to team up with other drugmakers to fund some of its development pipeline as it struggles with debts and expiring patents. A small part of it, "Teva spokeswoman Denise Bradley told Reuters in an email on Wednesday. Israel's Teva needs extra financial firepower to develop new drugs and...

  • JERUSALEM, Aug 16- Israel's largest defence contractor, Israel Aerospace Industries, nominated Harel Locker as its new chairman on Wednesday, a position the government wants filled before it moves ahead with IPO plans. Harel, a former head of the Israeli prime minister's office, will succeed Rafi Maor who stepped down last September, leaving state-run IAI...

  • DALLAS— Airline loyalty programs are losing much of their allure even for frequent flyers, and the rules for navigating the system have changed. Frequent-flyer programs get relatively little attention from Wall Street, and their financial importance to the airlines is not widely understood by travelers, who just hope to earn a free flight now and then.

  • *Yangon transit overhauled with import of 2,000 buses from China. YANGON, Aug 16- Aung San Suu Kyi's first major infrastructure project could hardly be more visible- hundreds of new yellow buses now plying the streets of Yangon in what her ruling party hopes will be a potent symbol of how it is transforming peoples' lives. But two deals to import 2,000 buses from...

  • CHICAGO— Grain futures were mixed Wednesday in early trading on the Chicago Board of Trade. Wheat for Sept delivery was lower 1.40 cents at $4.28 a bushel; Sept corn was down. 60 cent at $3.5440 a bushel; Sept oats lost. 40 cent at $2.5860 a bushel while Sept soybeans was down 1.40 cents to $9.2020 a bushel. August live cattle was. 70 cent lower at $1.0935 a pound; August...

  • *Fed's minutes on July policy meeting expected at 1400 ET. The central bank will release the details of the July policy meeting at 1400 ET. "Investors are looking at expectations of rates going up, but not right away, in a measured pace," said Andre Bakhos, managing director at Janlyn Capital.

  • COLUMBIA, S.C.— A South Carolina utility has no timeline for re-submitting its plans for bailing on a nuclear power project and recouping billions more from customers. But executives for South Carolina Electric& Gas emphasized Wednesday in a teleconference with financial analysts that the utility's plans haven't changed. The July 31 decision by SCE&G and...

  • BUDAPEST, Aug 16- The zloty led Central Europe's main currencies higher on Wednesday after figures for the second quarter showed the region's economic growth remained strong. "Fears of conflict between the United States and North Korea decreased considerably, but Polish GDP data turned out to be so solid that investors don't rush to buy Polish papers," said...

  • BRASILIA, Aug 16- Prosecutors investigating Brazil's biggest-ever corruption scandal will probe last year's sale of the Argentine subsidiary of Petrobras, Brazil's state oil company, a lawyer representing its minority shareholders on Wednesday. Lawyer Felipe Caldeira, representing the Petrobras shareholders, told Reuters he spoke on Tuesday to...

  • *GFH, Union Properties rebound after sharp losses in Dubai. Dana Gas surges in Abu Dhabi after earnings. It had plunged 12.9 percent over the previous two days as it acquired a $1.2 billion infrastructure portfolio in Africa and the Middle East, funding it with a $315 million capital increase that took issued and paid-up capital to $975 million- a big dilution for...

  • NEW YORK, Aug 16- Allan Landon prepared for his job at the Federal Reserve for two-and-a-half years during the Obama administration before his nomination sank into the partisan quicksand of Washington D.C., a swamp which has only deepened under President Donald Trump, leaving more vacancies than ever at the top of the U.S. federal government.

  • NEW YORK— The latest on developments in financial markets:. Urban Outfitters soared 23 percent and Target rose 2.5 percent in the first few minutes of trading Wednesday after both companies reported earnings that were better than analysts were expecting. That came as a welcome relief for the retail sector following dismal earnings reports a day earlier from...

  • BERLIN— German Chancellor Angela Merkel's favorite emoji is a smiley— and on a good day it's one with a heart. Merkel talked about her emoji preferences Wednesday during a live interview on YouTube as part of her re-election campaign. Germany's general election is on Sept. 24, and Merkel is running for a fourth term.

  • HONG KONG, Aug 16- Tencent Holdings Ltd, China's biggest gaming and social media firm by revenue, trumped forecasts to post its best-ever quarterly results, driven by higher income from smartphone games, payments and online advertising. "We will be persistent but patient with our AI investment, because we believe it is a long-term initiative and we do not...

  • TORONTO, Aug 16- Canada's main stock index rose at the open on Wednesday in broad-based gains led by financials, while energy stocks were buoyed by firmer crude oil prices.

  • *June cyber attack to cost $200- $300 mln. COPENHAGEN, Aug 16- Denmark's A.P. The firm also said it expected a $200 million to $300 million bill- primarily in the third quarter- from a June 27 cyber attack that disrupted its container shipping operations for weeks.

  • Aug 16- U.S. stocks opened higher on Wednesday, with investors awaiting the Federal Reserve's latest policy meeting minutes for clues on future interest rake hikes this year. The Dow Jones Industrial Average rose 41.77 points, or 0.19 percent, to 22,040.76. The S&P 500 gained 5.34 points, or 0.21 percent, to 2,469.95.