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Wires

  • SAN FRANCISCO, Aug 23- What is the true cost of an Uber ride? But it may be the most important question of all when it comes to determining the value of Uber Technologies Inc, which has built its business on massive subsidies to both riders and drivers, producing huge losses in the process, and has yet to show that it can maintain growth without them.

  • YIELDS ON TREASURY BILLS THAT MATURE OCT. 5 RISE TO 1.145 PCT, HIGHEST SINCE AUG 10, ON DEBT CEILING CONCERNS.

  • LONDON, Aug 23- Nickel prices surged to an eight-month high on Wednesday on expectations of strong demand from top consumer China, supply concerns and declining stockpiles. Zinc touched its highest since August 2007, though new trading restrictions in China dampened gains, and aluminum rose to near three-year highs on speculation of Chinese capacity cuts.

  • NEW YORK, Aug 23- Investors battered U.S.-based stock funds with the largest withdrawals this year as wild trading disrupted the market's summertime calm, Investment Company Institute data showed on Wednesday. Nearly $9.2 billion flowed out of equity mutual funds and exchange-traded funds during the week through Aug. 16, with a 37th week of inflows for...

  • *Libya's Sharara oilfield remains shut- sources. NEW YORK, Aug 23- Oil prices rose on Wednesday after U.S. crude inventories declined for the eighth straight week and a storm approached the Gulf Coast with the potential to disrupt oil and refined products output. "Oil inventories continue their downward trend despite a significant increase in crude oil imports...

  • SAO PAULO, Aug 23- The Mexican peso weakened on Wednesday after U.S. Trump warned he might terminate the NAFTA pact with Mexico and Canada after three-way talks failed to bridge deep differences. Brazil's benchmark Bovespa stock index rose slightly, extending the previous day's gains after breaching the 70,000 milestone for the first time since January 2011.

  • Public health and consumer groups applauded the move, which does not go as far as the company's policy for the United States, where already for a year suppliers have provided the chain with chickens raised without antibiotics deemed important to human health. In January 2018, HPCIAs will be gone from McDonald's chickens in Brazil, Canada, Japan, South Korea, the...

  • Fitch, which currently assigns the United States its highest rating- "AAA"- said in a statement that the prioritization of debt service payments over other government obligations, should the debt ceiling not be raised, "may not be compatible with' AAA' status. Congress has not reached a deal to raise the statutory borrowing limit, currently at $19.9 trillion, despite...

  • WASHINGTON, Aug 23- American Express will pay $96 million to consumers in Puerto Rico and other U.S. territories over discriminatory terms in its credit card agreements, according to the U.S. Consumer Financial Protection Bureau.

  • JOHANNESBURG, Aug 22- South African unions said on Tuesday they had agreed a three-year wage deal for engineering workers, ending weeks of difficult negotiations and averting an industry strike. They have now agreed to a deal that is expected to see workers get a 7 percent increase in 2017, 6.75 percent in 2018 and 6.5 percent in 2019, the employers association...

  • NEW YORK, Aug 23- A federal appeals court on Wednesday upheld the insider trading conviction of Mathew Martoma, a former portfolio manager for billionaire Steven A. Cohen's SAC Capital Advisors LP, after the U.S. Supreme Court made such cases easier to pursue. In a 2-1 vote, the 2nd U.S. Circuit Court of Appeals in Manhattan found "overwhelming" evidence that a...

  • LONDON, Aug 23- Media stocks weighed on European markets on Wednesday, led lower by sharp declines in advertising giant WPP after it cut sales forecasts on weakening demand. Investors were keeping a close eye on monetary policy, a day ahead of the start of a central bank symposium in Jackson Hole, although dovish comments by European Central Bank chief Mario...

  • *FTSE 100, mid caps end little changed. LONDON, Aug 23- A sharp fall for advertiser WPP was offset on the British market on Wednesday by gains in mining shares, which extended a strong run, and a buoyant health sector. The FTSE 100 ended flat at 7,382.65 points.

  • MEXICO CITY/ OTTAWA, Aug 23- Mexico and Canada on Wednesday dismissed U.S. Initial talks between Mexico, the United States and Canada to update NAFTA ended in Washington over the weekend with no sign of a breakthrough, and further discussions are due in Mexico City in September. NAFTA's fate is important to Mexico and Canada, which both send most of their exports to...

  • LAGOS, Aug 23- Nigerian fuel distributor Nipco Plc has bought another 3.23 percent stake in 11 Plc, the fuel retailer formerly known as Mobil Oil Nigeria, for 4.84 billion naira to increase its holding to 70 percent. Nipco's investment subsidiary in October bought 60 percent of Mobil Oil Nigeria from Exxon Mobil Corp., when the U.S. giant pulled out of downstream...

  • TOKYO, Aug 23- Japan's Toshiba Corp is prioritising negotiations with Western Digital to sell its memory chip business after talks stalled with a previously preferred bidder, sources familiar with the matter said on Wednesday. In June, it picked a consortium including Japanese government-backed funds, private equity firm Bain Capital and South Korean chip...

  • TOKYO, Aug 23- Japan's Toshiba Corp is prioritizing negotiations with Western Digital to sell its memory chip business after talks stalled with a previously preferred bidder, sources familiar with the matter said on Wednesday. In June, it picked a consortium including Japanese government-backed funds, private equity firm Bain Capital and South Korean chip...

  • NEW YORK, Aug 23- Stocks on Wall Street fell, the dollar sagged and rates on Treasury debt slipped on Wednesday after U.S. President Donald Trump's threat to shut down the government and nix a trade accord with Canada and Mexico raised investor angst. Dovish comments by ECB chief Mario Draghi had little market impact though investors kept a close eye on monetary...

  • *Trump ready to shut govt to build Mexico border wall. Aug 23- U.S. stocks were lower late on Wednesday morning after President Donald Trump's warning of a government shutdown to secure funds to build the Mexico border wall added to nerves as the deadline to the raise the U.S. debt ceiling looms. "Trump saying he would be willing to shut down the government over the...

  • JEDDAH, Aug 23- Saudi Aramco is expected to sign a final deal with PetroChina, China's second-largest state-run refiner, within six months to invest in its Yunnan refinery, Saudi Arabia's Energy Minister Khalid al-Falih told Reuters on Wednesday. The world's top oil exporter aims to push ahead with its oil investments in China to become the country's biggest...