News Archive - 17 May 2015

>Speaking in the South Korean capital, Kerry said Washington continued to offer the isolated North the chance for an improved relationship in return for signs of a genuine willingness to end its nuclear program. "To date, to this moment, particularly with recent provocations, it is clear the DPRK is not...

>KUALA LUMPUR The Organisation of the Petroleum Exporting Countries (OPEC) is unlikely to implement a production cut at its next meeting in June, a senior Iranian official said on Monday.Asked if OPEC would cut output at the upcoming June 5 meeting, Iran's Deputy Oil Minister Rokneddin Javadi told Reuters:...

>A deal is expected to be signed by end of this month or sometime next month, the Chosun Ilbo reported, citing unidentified industry sources. A spokesman for POSCO Group said a stake sale was being considered but nothing has been decided. (Reporting by Joyce Lee; Editing by Edwina Gibbs)...

>Axis Capital Holdings Ltd (AXS.N) is not considering improving on its offer for Bermuda-based reinsurer PartnerRe Ltd (PRE.N) following rival bidder Exor SpA's (EXOR.MI) raised $6.8 billion bid, a person familiar with the matter said on Sunday.Axis' steadfastness underscores its confidence that its all-stock offer...

>The Financial Times, citing "people aware of Rio's plans", said on Sunday that Rio had hired Credit Suisse to find a buyer for Pacific Aluminium, known as PacAl, which comprises a group of smelters in Australia and New Zealand. A spokesman for Rio Tinto said the company "doesn't comment on...

>U.S. Representative Adam Schiff, the top Democrat on the House of Representatives intelligence committee, called the raid on Saturday that killed Abu Sayyaf "a striking and risky success" in the heart of Islamic State territory.He said U.S. authorities would have to weigh the dangers of such raids,...

>Rubio, a U.S. senator from Florida, said on "Fox News Sunday" there were fewer votes in Congress for comprehensive immigration reform now than two years ago, when he worked with Senate Democrats to help pass a comprehensive bill that included a path to citizenship for those in the country...

>The South Carolina lawmaker was quoted by MSNBC as telling supporters in an email: "As an announcement draws near, I need to know you stand with me.” The Washington Post quoted him as saying in the email he would appear on the "CBS This Morning" program at 8 a.

>NEW YORK A group of luxury goods makers sued Alibaba Group Holding Ltd (BABA.N) on Friday, contending the Chinese online shopping giant had knowingly made it possible for counterfeiters to sell their products throughout the world.The lawsuit was filed in Manhattan federal court by Gucci, Yves Saint Laurent...

>RIYADH A Saudi Arabian-led coalition resumed air strikes against Yemen's Houthi militia in Aden overnight, hours after the expiry of a truce meant to facilitate badly needed humanitarian aid, a Reuters eyewitness said.The witness said explosions could be heard near the southern city's airport and the districts of Khor...

>In a statement, the group said it had seized tanks and killed "dozens of apostates", its description for members of the Iraqi security forces.Ramadi is the capital of Iraq's western Anbar province, which is dominated by Sunni Muslims. Prime Minister Haider al-Abadi signed off on the deployment of Shi'ite...

>TOKYO Japan's core machinery orders grew in March for the first time in two months but they are seen slipping in the current quarter, suggesting that weak capital spending could further sap momentum from an economy struggling to rebound from a recession.The 2.9 percent month-on-month rise in core...

>TOKYO The dollar languished around a three-month low against the euro in early Asian trade on Monday after downbeat U.S. economic data bolstered expectations that the Federal Reserve will wait longer to raise U.S. interest rates.Industrial production fell for a fifth straight month in April and consumer...

>HONG KONG China's new home prices fell for the eighth consecutive month in April from a year earlier but were flat from March, adding to hopes that a property downturn which is weighing heavily on the economy is beginning to bottom out.However, analysts warned that any recovery in the...

>HONG KONG As China's economy slows and Beijing becomes more relaxed about letting its companies fail, a rising number of foreign bondholders risk being caught up in the country's unpredictable court system.Last month, solar producer Baoding Tianwei Baobian Electric (600550.SS) became China's first ever state-owned company to default...

>TOKYO Asian shares slipped on Monday and the dollar stayed near a four-month low against a basket of major currencies after soft data raised doubts over whether the U.S. economy has been growing despite U.S. share prices standing at historic highs.MSCI's broadest index of Asia-Pacific shares outside...