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Financial News from Reuters

  • Crude oil output from Exxon Mobil's Cepu block in Indonesia could reach 200,000 barrels per day (bpd) up from 185,000 bpd at present, if the government approves an increase, a company spokesman said on Wednesday. Output from the Banyu Urip project in the Cepu block in East Java province is crucial to Indonesia's long-term …

  • A man walks past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur

    Scandal-hit Malaysian government fund 1Malaysia Development Berhad (1MDB) [TERRN.UL] said on Wednesday it has made full payment of a fine imposed on it by the country's central bank. Bank Negara Malaysia (BNM) said last month that it had issued a letter of administrative compound to the fund for failing to comply with …

  • French multinational pharmaceutical company SANOFI logo is seen at the headquarters in Paris

    Sanofi has threatened to oust the board after Medivation rejected its unsolicited $9.3 billion acquisition offer late last month, taking advantage of a so-called 'written consent' rule that gives Medivation shareholders the ability to act at any time to replace directors. Medivation has declined to engage in sale talks …

  • Terry Bollea, aka Hulk Hogan, sits in court during his trial against Gawker Media, in St Petersburg, Florida

    Billionaire investor Peter Thiel is helping wrestler Hulk Hogan bankroll his lawsuit against Gawker Media, according to a report in Forbes. Hogan, whose real name is Terry Bollea, in March won a $140 million jury verdict against Gawker in a privacy lawsuit stemming from a sex tape Gawker had published. Gawker, a New York-based …

  • When J.M. Smucker Co, the biggest U.S. coffee roaster, changes prices of its popular retail brands, it usually follows big swings up or down in benchmark bean prices. While Smucker cited sustained declines in green coffee costs as the reason for the move, it was notable that arabica and robusta prices were almost …

  • Lockheed Martin Corp's F-35 stealth fighter jet will see a delay in initial operational testing as it is taking longer than expected to configure test aircraft with the latest software, U.S. government officials said on Tuesday. Lawmakers and independent watchdogs are anxious to keep tabs on an upgrade program after …

  • Morning News Call - India, May 25 Reuters - 1 hour 31 minutes ago

    To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_05252016.pdf FACTORS TO WATCH 11:00 am: Oil Minister Dharmendra Pradhan to preside on ...

  • China's Premier Li Keqiang delivers a speech at the First World Conference on Tourism for Development in Beijing

    China will focus on protecting intellectual property and commercial secrets, while offering a fair playing field for both domestic and foreign companies, premier Li Keqiang said on Tuesday at a technology summit. Li also said that new innovations should be given room to grow, free from over-regulation, even if new and …

  • Crude oil output from Exxon Mobil's Cepu block in Indonesia could reach 200,000 barrels per day up from 185,000 bpd at present, if the government approves an increase, a company spokesman said on Wednesday. ...

  • A pedestrian holding her mobile phone walks past electronic boards showing the Japan's Nikkei average and the Japanese yen's exchange rate against the euro outside a brokerage in Tokyo

    TOKYO/SINGAPORE (Reuters) - Asian shares jumped on Wednesday, taking cues from sharp gains in European and U.S. markets, while the dollar firmed as upbeat U.S. home sales supported the view that the economy may be strong enough for the Federal Reserve to raise interest rates in coming months. U.S. new home sales data on …

  • TOKYO/SINGAPORE, May 25 (Reuters) - Asian shares jumped on Wednesday, taking cues from sharp gains in European and U.S. markets, while the dollar firmed as upbeat U.S. home sales supported the view that the economy may be strong enough for the Federal Reserve to raise interest rates in coming months. U.S. new home …

  • Crude oil drips from a valve at an oil well operated by Venezuela's state oil company PDVSA, in the oil rich Orinoco belt, near Morichal at the state of Monagas

    Oil futures pushed closer to $50 a barrel on Wednesday, with U.S. crude hitting its highest in over seven months after industry data suggested a larger-than-expected drawdown in U.S. crude inventories last week. Oil markets were also supported by an overnight surge in U.S. equities and strong U.S. home sales that could …

  • Japanese stocks rebounded on Wednesday morning as exporters received a boost from a stronger dollar following firm U.S. housing data and as growing support for the British campaign to remain in the European Union bolstered global risk appetite. "The rally we're experiencing today is based in part on the latest Brexit …

  • Huawei Technologies Co Ltd [HWT.UL] on Wednesday said it sued Samsung Electronics Co Ltd claiming infringement of smartphone patents, the Chinese firm's first intellectual property challenge against the world's top mobile maker. Huawei has filed lawsuits in the United States and China seeking compensation for what it said …

  • Property loans, the glass chin of China banks Reuters - 2 hours 56 minutes ago

    China's top banks are lending more to homebuyers and developers than at any time since at least the global financial crisis, making them vulnerable to a property market downturn as prices overheat and real-estate firms struggle with a growing debt burden. China's top five banks had mortgages and loans to the sector …

  • Signs for Hewlett Packard Enterprise Co. cover the facade of the New York Stock Exchange

    Shares of Hewlett Packard Enterprise, formed after Hewlett-Packard Co formally split in November, rose 10.5 percent in extended trading on Tuesday. Falls Church, Virginia-based Computer Sciences' shares jumped 19.5 percent to $42.60. Under Chief Executive Meg Whitman, Hewlett Packard Enterprise has been restructuring …

  • China's Belle International Holdings Ltd said annual net profit fell 38 percent as more and more consumers shift to athleisure products and away from traditional fashion footwear and dress shoes. Net profit ...

  • The euro zone gave Greece its firmest offer yet of debt relief in what finance ministers called a breakthrough deal that won a commitment from the IMF finally to return to taking part in the bailout for Athens. After talks that lasted into the small hours of Wednesday, the Eurogroup ministers gave a nod to releasing …

  • A man speaks on his mobile phone near a Samsung store in central Kiev

    Tech giant Samsung Electronics Co Ltd said on Wednesday it will defend itself against patent lawsuits filed by smartphone rival Huawei Technologies Co Ltd . Huawei, the world's third-largest smartphone ...

  • CAIRO/PARIS, May 24 (Reuters) - The EgyptAir jet that disappeared last week did not show technical problems before taking off from Paris, sources within the Egyptian investigation committee said late on Tuesday. The sources said the plane did not make contact with Egyptian air traffic control, but Egyptian air traffic …

  • The dollar stood near a two-month peak against a basket of currencies on Wednesday after robust U.S. housing data supported the case for the Federal Reserve to raise interest rates in the near term. The U.S. currency also gained on the safe-haven yen as investor risk aversion ebbed on the back of a bounce in European …

  • SINGAPORE/ZURICH, May 24 (Reuters) - Singapore closed down BSI's operations in the city-state, while Switzerland began criminal proceedings against the private bank, in the biggest international crackdown on financial entities dealing with a scandal-hit Malaysian government fund. The Monetary Authority of Singapore …

  • The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times The pressure on Deutsche Bank's British ...

  • A Congressional plan to help Puerto Rico shed billions of dollars in bad debt can win enough support to make its way to a vote in the House of Representatives, U.S. lawmakers who support the measure said on Tuesday. Under the rescue plan, an independent panel would erase some of Puerto Rico's $70 billion debt load …

  • The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines * Former Mothercare managing director joins BHS bidding. ...

  • RIO DE JANEIRO/SAO PAULO, May 24 (Reuters) - Brazilian police said on Tuesday they investigated local units of three international steelmakers in a second-straight day of raids probing graft at the country's state-controlled oil producer, Petroleo Brasileiro SA. Police and prosecutors allege that Apolo Tubulars, which …

  • The company logo of Mitsubishi Motors is seen at its headquarters in Tokyo, Japan

    As Mitsubishi Motors acknowledged publicly last month that it cheated on fuel economy tests - its third scandal in two decades - its chief, Osamu Masuko, quietly called in on his counterpart at partner Nissan Motor's headquarters. Masuko, several Mitsubishi group executives said, gave Carlos Ghosn his blunt assessment: …

  • Flood damage in Britain from winter storms has resulted in claims for more than 15,000 homes and businesses and is likely to lead to pay-outs of 1.3 billion pounds ($1.9 billion), the Association of British Insurers estimates. Three winter storms in northern Britain resulted in average household claims of 50,000 pounds, …

  • British car production rose 16.4 percent year-on-year in April, boosted by strong demand from overseas, an industry body said on Wednesday. Total car production reached 149,334 vehicles last month, the ...

  • Any budget savings Britain would make by cutting its funding to the European Union would be wiped out by even a small economic slowdown that could result from leaving the bloc, a leading think tank said on Wednesday. In a report swiftly rejected by "Leave" campaigners, the Institute for Fiscal Studies said Britain's …

  • The U.S. Congress' latest attempt to solve Puerto Rico's debt crisis appears to strengthen some - though not all - creditor positions in what has been a robust fight to influence the writing of a bill that lawmakers started to debate on Tuesday. The House Natural Resources Committee presented the legislation, formally …

  • Traders work on the floor of the NYSE

    The dollar hit its highest against the euro in nearly 10 weeks on Tuesday, while U.S. bond prices dipped as expectations grew that the Federal Reserve could raise interest rates soon. Surprisingly strong data on U.S. new home sales in April supported the view the economy may be strong enough for the Fed to raise interest …

  • The dollar hit its highest against the euro in nearly 10 weeks on Tuesday, while U.S. bond prices dipped as expectations grew that the Federal Reserve could raise interest rates soon. Surprisingly strong data on U.S. new home sales in April supported the view the economy may be strong enough for the Fed to raise interest …

  • CAIRO/PARIS, May 24 (Reuters) - The EgyptAir jet that crashed last week showed no technical problems before taking off from Paris according to an Aircraft Technical Log signed by its pilot before takeoff, Egypt's state-owned newspaper Al-Ahram said on Tuesday. Al-Ahram published a scan of the log on its website. The …

  • The U.S. regulator that oversees the Federal Home Loan Bank system said on Tuesday it is reviewing the mortgage finance agency's increased use of short-term funding, which could be risky if it were to suddenly dwindle. "Short-term funding requires more frequent debt rollover than longer-term funding and this could …

  • The headquarters of Valeant Pharmaceuticals International Inc. seen in Laval Quebec

    The SEC has questioned Valeant's practice of stripping away acquisition-related expenses from its "non-GAAP" or adjusted metrics, given that the drugmaker had been fueling growth through frenzied deal making. In multiple letters, the SEC said Valeant's management is in possession of all the facts and urged for adequate …

  • Eli Lilly and Co on Tuesday said it and partner Pfizer Inc aim to seek approval by 2018 for a new type of pain drug that could be an alternative to opioids for osteoarthritis, chronic back pain and cancer pain. The Indianapolis drugmaker said tanezumab, given by injection every eight weeks, could be a far more effective …

  • Monsanto is displayed on a screen where the stock is traded on the floor of the NYSE

    Monsanto's decision, first reported earlier on Tuesday by Reuters, puts pressure on Bayer to decide whether to raise its bid, even as the company faces criticism from some shareholders that its $122-per-share cash offer is already too high. Monsanto shares ended trading up 3.1 percent at $109.3 in New York, substantially …

  • A Pakistani man has been charged with fraud by the U.S. Securities and Exchange Commission for illegally trading Integrated Device Technology Inc stock options after submitting a bogus takeover bid for the chipmaker. The regulator on Tuesday also said it won a court order freezing the roughly $425,000 of profit made …

  • "The market is not incredibly healthy," Gundlach said in a telephone interview, noting recent corporate earnings have come in weak. On the Federal Reserve, Gundlach said it is still 50/50 odds that the U.S. central bank will raise interest rates in June.

  • The logo of Swiss bank BSI is seen at a branch office in Zurich

    ZURICH/SINGAPORE (Reuters) - Regulators' closure of the Swiss BSI bank's Asian outpost for failing in its duty to prevent money-laundering has highlighted the risks of hunting wealthy clients farther afield as Swiss banks' traditional line in hiding money from foreign tax men is choked off. The Swiss banking watchdog FINMA …

  • Wells Fargo & Co lowered two key financial targets on Tuesday and said it was sharply cutting exposure to troubled energy loans, signaling that tough times for bank profits may continue through the rest of the year. Low interest rates, higher capital requirements and increasing credit costs are weighing on Wells Fargo's …

  • Photo illustration of beer flowing from a bottle of Stella Artois into a glass

    The world's largest brewer Anheuser-Busch InBev (ABI.BR) gained EU antitrust approval on Tuesday for its $100 billion-plus acquisition of SABMiller (SAB.L) on condition it sell almost the whole of SABMiller's beer business in Europe. Reuters was the first to report that AB InBev's concessions to sell substantial assets …

  • A U.S. advisory panel on Tuesday recommended approval of a new diabetes drug made by Novo Nordisk A/S that combines two of its existing treatments in a fixed-dose combination designed to be both effective and convenient. The panel voted 16-0 that the Food and Drug Administration should approve the drug, iDegLira, …

  • Brazil's stocks and currency rose slightly on Tuesday after a minister accused of seeking to hamper a corruption probe stepped down, while traders cheered the announcement of austerity measures by interim ...

  • Oklahoma state officials said on Tuesday they have a budget agreement for the 2017 fiscal year that closes a $1.3 billion budget gap while avoiding the draconian cuts to schools, hospitals and health care providers that many had feared. Oil-rich Oklahoma has been battered by a sharp decline in oil production tax revenues …

  • Canada's main stock index closed higher on Tuesday as strength in the financial sector ahead of the bank earnings season helped overcome a slump in shares of gold miners. The TSX, which also received support from the energy group, hit a seven-month high earlier in the session. Royal Bank of Canada rose 0.9 percent …

  • The family of the late baseball star Tony Gwynn, a Hall of Famer who played with the San Diego Padres, has filed a lawsuit in California accusing makers of dipping tobacco of causing his death from cancer by getting him hooked at a young age. With the legal action, Gwynn becomes one of the most high-profile Major …

  • A man walks in front of a Domino's pizza restaurant in Hoboken, New Jersey

    The lawsuit is the first by Attorney General Eric Schneiderman's office to claim a fast-food company is a "joint employer," meaning it is liable for labor violations by its franchisees. It is the latest such case by U.S. regulators against companies, including McDonald's Corp (MCD.N). Domino's micromanaged workers at …

  • Jeffrey Gundlach, the chief executive officer of DoubleLine Capital, said on Tuesday that the rally in U.S. stocks, which began on Monday, feels like a short squeeze. "The market is not incredibly ...

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