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Wires

  • *Iran, Latin America offset difficulties in UK, China. PARIS, Jan 16- French carmaker PSA's global sales jumped by 15 percent last year as strong growth in Iran and Latin America helped to offset difficulties in Britain and China. There was no year-on-year comparison for Iran, but sales in Latin America jumped 12 percent from 2016..

  • Jan 16- The Trump administration's decision last week to exempt Florida from its national offshore drilling plan was based in part on the state's argument that a spill would cripple its crucial tourism industry. The Interior Department this month proposed opening up virtually all U.S. coastline to drillers as part of Republican President Donald Trump's...

  • *GRAPHIC: China iron ore imports vs. futures price: http://reut.rs/2D7vL2C. The SGX futures, which mirror the spot price for cargoes delivered to China, is up 7.4 percent in the first half of January, part of a longer rally that has seen it surge some 31 percent since the start of November. Demand growth in top consumer China has been steady but unspectacular, with...

  • HOUSTON, Jan 16- Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day- toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. The U.S. government forecasts that the nation's production will climb to 11 million barrels a day by late 2019, a level that would rival Russia, the world's...

  • BOSTON— General Electric is taking a $6.2 billion after-tax charge in the fourth quarter tied to its review and reserve testing of GE Capital's run-off insurance portfolio. GE Capital will also suspend its dividend to GE for the foreseeable future. GE Capital plans to make statutory reserve contributions of about $15 billion over seven years.

  • Jan 16- Comerica Inc's profit fell 31.3 percent in the fourth quarter as the Dallas- based bank took a $107- million charge to adjust deferred taxes due to new U.S. tax laws. Net income attributable to Comerica common shareholders fell to $112 million or 63 cents per share in the quarter ended Dec. 31, from $163 million or 92 cents per share, a year earlier.

  • *Nicolaas Kruger will be replaced by Hillie Meyer. JOHANNESBURG, Jan 16- Nicolaas Kruger will step down as chief executive of South African life insurer MMI Holdings next month, after more than seven years at the helm, as part of a management shake-up announced on Tuesday. The company, which has been struggling to grow revenue due to weak returns from investment...

  • HAMBURG, Jan 16- Chicago wheat futures fell on Tuesday to their lowest in almost a month, still under pressured from a forecast on Friday of a larger-than-expected planted area for U.S. winter wheat. "Soybeans and corn are seeing support from fear about poor crop weather in South America, especially Argentina, a factor which is also supporting soymeal."

  • GE, which has been reviewing its insurance reserves, also said its GE Capital unit expects to make statutory reserve contributions of about $15 billion over seven years.

  • LONDON, Jan 16- Base metals slid on Tuesday with copper and nickel hitting multi-week lows as profit-taking set in following strong gains late last year, a steadier dollar weighed and worries lingered over fading demand in China ahead of the Lunar New Year. Three-month copper on the London Metal Exchange fell 2.3 percent to $7,046.50 a tonne by 1119 GMT, having...

  • LONDON/ EDINBURGH, Jan 16- The collapse of British services group Carillion started to hurt thousands of small contractors on Tuesday, with some laying off workers after the rapid demise of a company that was winning state contracts as recently as November. Rudi Klein, head of Britain's Specialist Engineering Contractors' Group, estimated that Carillion had...

  • Jan 16- Battery maker Energizer Holdings Inc said on Tuesday it would buy the global battery and portable lighting business of Spectrum Brands in a $2 billion cash deal, adding brands such as Rayovac and Vatra to its lineup. Spectrum's battery and portable lighting business generated revenue of $866 million in 2017 and earnings before interest tax,...

  • *OPEC/ Russia- led supply restraint has propped up crude. LONDON, Jan 16- Brent crude oil shed some of its recent gains by falling just over $1 a barrel on Tuesday but healthy demand underpinned prices near $70, a level not seen since 2014' s market slump. Prices have been driven up by oil production curbs in OPEC nations and Russia, as well as strong demand thanks to...

  • UnitedHealth Group's earnings more than doubled in the final quarter of 2017, and the nation's largest insurer hiked its forecast well beyond expectations due partially to a gain from the federal tax overhaul. UnitedHealth now expects adjusted earnings of $12.30 to $12.60 per share in 2018, up from an initial forecast for $10.55 to $10.85, and far better...

  • FRANKFURT, Jan 16- Private equity firm Permira has installed one of its partners as the new chief executive of German portfolio company TeamViewer, which it acquired in 2014, after the company failed to find a buyer and its senior executives left last year. Several buyout funds had weighed rival bids for a potential $2 billion deal after Permira initiated a...

  • BERLIN, Jan 16- Germany's current account surplus was the world's largest in 2017, the Munich- based Ifo economic institute said on Tuesday, unveiling a record high reading likely to renew criticism of the economic and fiscal policies in Europe's largest economy. The International Monetary Fund and the European Commission have for years urged Germany to lift...

  • The tax benefit also helped the company raise its 2018 full-year adjusted earnings per share forecast range to between $12.30 and $12.60. UnitedHealth had in November forecast 2018 adjusted earnings per share to be in the range of $10.55 and $10.85 on a revenue of $223 billion to $225 billion. The company, which sells employer-based insurance as well as...

  • BRUSSELS, Jan 16- The European Central Bank has "flaws" in its procedures for identifying and dealing with banks in crisis, European Union auditors said on Tuesday. The European Court of Auditors, a European Union agency, cast doubt on the ECB's supervision of the big banks in the euro zone and criticized the central bank's reluctance to disclose relevant...

  • *OPEC/ Russia- led supply restraint has propped up crude. LONDON, Jan 16- Brent crude oil shed some of its recent gains by falling just over $1 a barrel on Tuesday but healthy demand underpinned prices near $70, a level not seen since 2014' s market slump. Prices have been driven up by oil production curbs in OPEC nations and Russia, as well as strong demand thanks to...

  • COPENHAGEN, Jan 16- Jewellery maker Pandora, known for its silver charm bracelets, plans to double new product launches by 2022 to rectify a recent lack of innovation and weak growth in key markets, its chief executive told investors on Tuesday. Pandora shares were up 4.6 percent at 1055 GMT as it met investors to try to dispel concerns after weak U.S. trading and a...