Basic Materials

  • Escondida outcome seen as disaster for BHP as workers … Reuters - Sat, Mar 25, 2017 5:24 AM SGT

    By Gram Slattery and Fabian Cambero SANTIAGO (Reuters) - The end of a historic strike at Chile's Escondida copper mine, the world's biggest, has left its owner, BHP Billiton, nursing an estimated $1 billion loss and probably in a weaker position for negotiations in a year or so, company and industry insiders said. Workers …

  • Whistleblower in Brazil meat scandal takes on powerful … Reuters - Sat, Mar 25, 2017 5:04 AM SGT
    Brazilian health inspector and whistleblower of the investigation, dubbed "Operation Weak Flesh," Teixeira, poses for picture in Brasilia

    By Stephen Eisenhammer CURITIBA, Brazil (Reuters) - When government health inspector Daniel Gouveia Teixeira confronted a Brazilian processed meat plant with what he says was evidence of excess use of marrow, bone and other slaughterhouse by-products in food for human consumption, he was suddenly removed as the plant's …

  • Brazil meat probe will show further evidence of graft … Reuters - Sat, Mar 25, 2017 5:04 AM SGT

    By Brad Brooks and Stephen Eisenhammer SAO PAULO (Reuters) - A police inquiry into corruption and unsanitary conditions in Brazil's powerful meatpacking industry contains more than 8,000 pages of evidence suggesting systematic fraud, not just isolated abuses, said three sources with direct knowledge of the probe. The …

  • 'Operation Weak Flesh' takes bite out of Brazil's … Reuters - Sat, Mar 25, 2017 5:01 AM SGT
    A member of the Public Health Surveillance Agency measures the temperature where the products are exposed at a supermarket after the Chilean government suspended all meat and poultry imports from Brazil, in Santiago,

    By Alberto Alerigi and Thais Freitas SAO PAULO (Reuters) - Brazil's meat exports have fallen sharply since a police investigation into alleged bribery of food-sanitation inspectors in the world's top beef and poultry exporter sparked a wave of trade bans, an industry group said on Friday. Import restrictions by several …

  • Rothschild wins mandate to study options for French … Reuters - Sat, Mar 25, 2017 2:50 AM SGT

    Rothschild & Co will study strategic options, including a possible flotation or sale, for French frozen food retailer Picard after winning the mandate from its owners, sources close to the matter told Reuters. Picard was bought in 2010 by Lion Capital, which later sold a 49 percent stake to Swiss frozen baked goods maker …

  • Number of newly-minted millionaires at Europe's … Reuters - Sat, Mar 25, 2017 12:11 AM SGT
    File photo of skyline of the banking district in Frankfurt

    By Jamie McGeever and Anjuli Davies LONDON (Reuters) - The number of employees earning more than a million euros or pounds at Europe's biggest banks fell sharply last year, another sign of the clout they have lost to U.S. rivals since the financial crisis. Early indications from four big European institutions show that …

  • Private equity firm Cinven in talks to buy chemicals … Reuters - Fri, Mar 24, 2017 11:30 PM SGT

    Private equity firm Cinven is in talks to buy CHRYSO, a French chemicals group with 2016 sales of 300 million euros (260 million pounds), from LBO France, the companies said on Friday. Cinven said it believed CHRYSO, which specialises in chemicals used in the building industry, had the potential to grow strongly, with …

  • BRIEF-Virscend Education posts FY profit attributable … Reuters - Fri, Mar 24, 2017 11:04 PM SGT

    March 24 (Reuters) - Virscend Education Co Ltd: * Board has resolved to recommend payment of a finaldividend of HK$0.07 per share * FY revenue RMB827.2 million, up 16.9 percent * FY profit attributable RMB302.3 million versus RMB109.7millionSource text: (http://bit.ly/2nksveH)Further company coverage:

  • BRIEF-Grand Peace Group announces disposal of equity … Reuters - Fri, Mar 24, 2017 10:44 PM SGT

    March 24 (Reuters) - Grand Peace Group Holdings Ltd * Discloseable transaction disposal of 45% equity interestin Yat Ho Group Limited * Deal for consideration of hk$25 million * Unit as vendor ,purchaser and target company entered intosale and purchase agreementSource text for Eikon: Further company coverage:

  • Fed gives four foreign banks 'living will' … Reuters - Fri, Mar 24, 2017 10:35 PM SGT
    A screen displays the ticker symbol and information for Goldman Sachs on the floor of the New York Stock Exchange

    WASHINGTON (Reuters) - Northern Trust Corp had shortcomings in its "living will" plans and has until year-end to update a proposal for how to unwind if it went bankrupt, U.S. regulators said on Friday as they granted an extension for four foreign banks to comply. Barclays Plc , Credit Suisse Group AG , Deutsche …

  • Exclusive - China-backed fund relaunches bid for U.S. … Reuters - Fri, Mar 24, 2017 10:19 PM SGT

    Canyon Bridge Capital Partners LLC, the China-backed buyout fund that agreed to acquire Lattice Semiconductor Corp in November for $1.3 billion (1 billion pounds), has resubmitted the deal for U.S. government review, three people familiar with the matter said. The move comes after the Committee on Foreign Investment in …

  • Yingde Gases "accidental win" for minorities … Reuters - Fri, Mar 24, 2017 10:11 PM SGT

    (Repeats with functioning link to Air Products story) HONG KONG, March 24 (Reuters) - The messy battle to control China's largest producer of industrial gases has turned into a serendipitous victory for minority investors that could encourage more shareholder activism in Asia. The decision by Yingde Gases Group's shareholders …

  • Customers order meals on tablets and pick up food from cubbies at Eatsa, a restaurant in the financial district of San Francisco

    (Reuters) - Fast food startup Eatsa is being sued by disability rights advocates for not including accessibility features for the blind. The suit claims that although the technology to make touchscreens and self-service food pick-up usable for blind and low-vision customers is available, the restaurant chain has neglected …

  • BRIEF-Dabeinong Technology's unit to invest in … Reuters - Fri, Mar 24, 2017 8:43 PM SGT

    March 24 (Reuters) - Beijing Dabeinong Technology Group CoLtd * Says unit plans to invest in hog breeding project worth259 million yuan ($37.62 million) Source text in Chinese: http://bit.ly/2nvcLpx Further company coverage:($1 = 6.8840 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

  • Vitol reports record volumes as gasoline trade boo … Reuters - Fri, Mar 24, 2017 8:38 PM SGT

    Vitol's annual traded volumes rose 16 percent in 2016 to a new record as the world's largest independent energy trader sold more gasoline and diesel in markets such as the United States and Australia. Crude represented 48 percent of its traded portfolio and volumes also rose 16 percent. The biggest jump in percentage …

  • March 24 (Reuters) - Uni-president China Holdings Ltd * FY profit attributable to equity holders of company ofRMB607.3 million, down by 27.2% as compared with previous year. * FY revenue amounted to RMB20,985.5 million, down by 5.1%as compared with previous year. * Proposed final dividend for 2016 of RMB2.812 cents pershare. …

  • Bombardier's CSeries jet nears approval for London … Reuters - Fri, Mar 24, 2017 7:39 PM SGT
    File photo of a Bombardier C Series aircraft at the Singapore Airshow at Changi Exhibition Center

    By Allison Lampert MONTREAL (Reuters) - Bombardier Inc said its CSeries will soon become the largest commercial aircraft capable of landing at London City Airport, a feat the Canadian planemaker expects will whet buyer interest at a time of sluggish market demand for new jets. Bombardier, which this week completed a …

  • BRIEF-Hubei Forbon Technology to set up China JV with … Reuters - Fri, Mar 24, 2017 7:32 PM SGT

    March 24 (Reuters) - Hubei Forbon Technology Co Ltd * Says it plans to invest 76.5 million yuan ($11.11million) to set up China joint venture with Canada's SoiloptixInc Source text in Chinese: http://bit.ly/2nYvCHm Further company coverage:($1 = 6.8840 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

  • Air Products drops $1.5 bln bid for China's Yingde … Reuters - Fri, Mar 24, 2017 7:14 PM SGT

    Air Products and Chemicals Inc said on Friday it would drop a proposed $1.5 billion bid for China's largest producer of industrial gases, leaving the door open for a competing offer from Hong Kong-based private equity firm PAG. The U.S. industrial gas maker said in a securities filing it would not pursue the purchase of …

  • CEO Thiam of Swiss bank Credit Suisse awaits a news conference in Zurich

    By Joshua Franklin ZURICH (Reuters) - Credit Suisse Chief Executive Tidjane Thiam's pay for his first full year in the job swelled to 11.9 million Swiss francs (10 million pounds), while bonuses rose 6 percent despite back-to-back annual losses at Switzerland's second-biggest bank. Executive pay is a hot-button issue …

  • BRIEF-Air Products and Chemicals-Determined "not … Reuters - Fri, Mar 24, 2017 6:25 PM SGT

    March 24 (Reuters) - Yingde Gases Group Co Ltd: * Air Products and Chemicals-determined "not in bestinterests of cos' shareholders to continue" pursuing acquisitionof Yingde Gases Group at this timeSource text:(http://bit.ly/2n0W9Tz)Further company coverage:

  • BRIEF-Uni-president China Holdings enters into new … Reuters - Fri, Mar 24, 2017 6:24 PM SGT

    March 24 (Reuters) - Uni-president China Holdings Ltd * Company entered into new cct agreements with UPE * Enters new cct agreements comprising 2017 frameworkpurchase agreement, 2017 framework sales agreement, 2017framework logistics service agreementSource text for Eikon: Further company coverage: (bangalore.newsroom@ …

  • Yingde Gases "accidental win" for minorities … Reuters - Fri, Mar 24, 2017 5:59 PM SGT

    The messy battle to control China's largest producer of industrial gases has turned into a serendipitous victory for minority investors that could encourage more shareholder activism in Asia. The decision by Yingde Gases Group's shareholders earlier in March to oust five directors ended a four-month battle for control …

  • March 24 (Reuters) - China Huishan Dairy * Trading halt * company will issue an announcement as soon as practicableafter it has completed its enquiriesSource text for Eikon: Further company coverage:

  • BRIEF-Shandong Minhe Animal Husbandry returns to net … Reuters - Fri, Mar 24, 2017 5:37 PM SGT

    March 24 (Reuters) - Shandong Minhe Animal Husbandry Co Ltd * Says it returns to net profit of 153.8 million yuan ($22.33 million) in 2016 versus net loss of 315.5 million yuanyear ago Source text in Chinese: http://bit.ly/2n0Lska Further company coverage:($1 = 6.8865 Chinese yuan renminbi) (Reporting by Hong Kong news …

  • March 24 (Reuters) - Uni-president China Holdings Ltd * Liu Xinhua will be appointed as an executive directorSource text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com)

  • BRIEF-Beijing Shunxin Agriculture's 2016 net profit … Reuters - Fri, Mar 24, 2017 5:16 PM SGT

    March 24 (Reuters) - Beijing Shunxin Agriculture Co Ltd * Says 2016 net profit up 9.7 percent y/y at 412.6 millionyuan ($59.90 million) Source text in Chinese: http://bit.ly/2nY8Gs0 Further company coverage:($1 = 6.8880 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

  • BRIEF-China Huishan Dairy Holdings says trading in … Reuters - Fri, Mar 24, 2017 2:02 PM SGT

    March 24 (Reuters) - China Huishan Dairy Holdings CompanyLtd: * Trading in shares will be halted of Co at 1:00 p.m on 24MarchSource text for Eikon:Further company coverage:

  • BRIEF-Kingboard Chemical says FY net profit surged … Reuters - Fri, Mar 24, 2017 1:44 PM SGT

    March 24 (Reuters) - Kingboard Chemical Holdings Ltd * FY reported net profit surged 205% to hk$5,026.8 million * Board has proposed a final dividend of hk70 cents pershare * FY revenue hk$35.83 billion, up 9%Source text for Eikon: Further company coverage:

  • China's Yingde Gases falls after profit warnin … Reuters - Fri, Mar 24, 2017 9:35 AM SGT

    HONG KONG, March 24 (Reuters) - Shares of Yingde Gases GroupCo Ltd were set to open 5.3 percent lower on Fridayafter the country's largest industrial gases company issued aprofit warning. The stock was expected to open at HK$6.20, its lowest opensince March 14. The benchmark index is set to open 0.3percent higher. Yingde …

  • China's Yingde Gases warns management reshuffle … Reuters - Fri, Mar 24, 2017 8:36 AM SGT

    Yingde Gases Group Co Ltd , the subject of a rare public Chinese boardroom battle, has warned that its financial position may be "materially adversely impacted" due to changes to the composition of its board of directors and management. Information regarding the company's debt was also needed, Yingde Gases said in a satatement. …

  • BRIEF-Global Sweeteners Holdings announces appointment … Reuters - Fri, Mar 24, 2017 6:44 AM SGT

    March 24 (Reuters) - Global Sweeteners Holdings Ltd: * Wang Jian has resigned as an executive director and hasceased to be Chairman * Zhang zihua has been appointed as an executive director * Kong Zhanpeng has been appointed as chairmanSource text for Eikon: Further company coverage:

  • Swiss National Bank committed to expansive policy Reuters - Fri, Mar 24, 2017 3:58 AM SGT
    SNB Chairman Governing Board member Maechler  attends their annual news conference in Bern

    The Swiss National Bank is watching the unfolding European political situation but is convinced it has the correct tools to deal with any potential uncertainties that could arise, governing board member Andrea Maechler said on Thursday. “We are looking at all situations, and we have come to the conclusion that the current …

  • EU regulators to clear Dow and ChemChina deals next … Reuters - Fri, Mar 24, 2017 3:54 AM SGT
    The company logo of China National Chemical Corp, or ChemChina, is seen at its headquarters in Beijing

    By Foo Yun Chee BRUSSELS (Reuters) - EU antitrust regulators are set to clear the $130 billion (104.07 billion pounds) Dow Chemical and DuPont merger and ChemChina's [CNNCC.UL] $43 billion bid for Syngenta next week, people familiar with the matter said on Thursday. The European Commission could announce its approvals …

  • European shares gain as investors grow more bullish, … Reuters - Fri, Mar 24, 2017 1:56 AM SGT
    FILE PHOTO: A picture illustration shows a 1 euro coin on one U.S. dollar banknote

    By Danilo Masoni and Helen Reid LONDON/MILAN (Reuters) - European shares climbed higher on Thursday, led by travel and retail stocks, as investors grew more bullish about risks to Donald Trump's stimulus plans, just before a vote in Congress on the U.S. president's healthcare bill. Markets extended gains after the U.S. …

  • Escondida workers to end strike as they opt for old … Reuters - Fri, Mar 24, 2017 1:47 AM SGT
    FILE PHOTO - Sheets of copper cathode are seen at the copper cathode plant inside the La Escondida copper mine near Antofagasta

    By Felipe Iturrieta ANTOFAGASTA, Chile (Reuters) - The strike at Chile's Escondida, the world's largest copper mine, is ending after workers decided to invoke a rarely used legal provision that allows them to extend their old contract, the union said on Thursday. Hours earlier, talks between the two sides failed, and …

  • Swiss watchmakers expect challenging U.S. market this … Reuters - Fri, Mar 24, 2017 1:14 AM SGT

    Swiss watchmakers expect the market to stay challenging this year with the United States, their second-biggest market, showing no signs of recovering, executives told Reuters at an industry fair in Basel. Swiss watchmakers are grappling with declining sales in their biggest markets -- Hong Kong and the United States -- …

  • Akzo Nobel finds unwanted suitor PPG on its doorst … Reuters - Fri, Mar 24, 2017 12:59 AM SGT
    FILE PHOTO: The sign of AkzoNobel is pictured at its headquarters in Amsterdam

    By Toby Sterling AMSTERDAM (Reuters) - The chief executive of U.S. paint maker PPG won the backing of Akzo Nobel's largest shareholder on Thursday after flying to Amsterdam to press the Dutch company to open talks on a 22.7 billion euro (20 billion pound) takeover. PPG Chief Executive Michael McGarry said he hoped to …

  • Credit Suisse considers stock sale over Swiss IPO - … Reuters - Thu, Mar 23, 2017 11:31 PM SGT
    Logo of Swiss bank Credit Suisse is seen in Zurich

    By John O'Donnell, Pamela Barbaglia and Joshua Franklin FRANKFURT/LONDON/ZURICH (Reuters) - Credit Suisse is considering a quickfire share sale rather than pursuing a separate listing for its Swiss banking division, two sources close to the matter told Reuters, in a move that could raise 3 billion Swiss francs (2 billion …

  • BRIEF-Concord New Energy says Jingmen Shengjingshan, … Reuters - Thu, Mar 23, 2017 11:07 PM SGT

    March 23 (Reuters) - Concord New Energy Group Ltd- * Jingmen Shengjingshan, Huaneng Tiancheng (as lessor), andTianjin Century (as supplier), entered into finance leasearrangement * Huaneng Tiancheng agreed to lease equipment to JingmenShengjingshan for a term of 12 years * Huaneng Tiancheng agreed to purchase certain equipmentfrom …

  • WIDER IMAGE: Maduro's awkward TV shows raise hackles … Reuters - Thu, Mar 23, 2017 10:55 PM SGT
    The Wider Image: Venezuela : Queueing to survive

    By Alexandra Ulmer CARACAS (Reuters) - A single mom tells Venezuela's president, Nicolas Maduro, on live television that she cannot afford to adequately feed her four kids, and he quickly changes the subject to joke about her foreign-sounding name, Joandry Smith. A girl complains that hungry classmates are fainting at …

  • Barclays the latest bank to ditch euro below parity … Reuters - Thu, Mar 23, 2017 9:38 PM SGT
    The German Bundesbank presents the new 50 euro banknote at it's headquarters in Frankfurt

    Barclays became on Wednesday the latest big bank to back off its forecast for the euro to fall below parity with the dollar this year, saying it sees the single currency falling to as low as $1.03 this year before recovering. Currency analysts at the world's sixth biggest foreign exchange trading bank say the political …

  • Crunch week looms for Sanofi, Roche and GSK at U.S. … Reuters - Thu, Mar 23, 2017 8:26 PM SGT
    The GlaxoSmithKline building is pictured in Hounslow, west London

    By Ben Hirschler LONDON (Reuters) - Three of Europe's top drugmakers face critical verdicts from U.S. regulators next week, with Sanofi and Roche likely to win approvals for two new products, while GlaxoSmithKline braces for a potential generic rival. Given earlier impressive clinical trial results, investors expect …

  • BRIEF-Nanning Sugar's unit to invest 375.7 mln … Reuters - Thu, Mar 23, 2017 7:55 PM SGT

    March 23 (Reuters) - Nanning Sugar Industry Co Ltd * Says unit plans to invest 375.7 million yuan ($54.56million) in production upgrade project Source text in Chinese: http://bit.ly/2nqT5Dl Further company coverage:($1 = 6.8865 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

  • BRIEF-Shenguan Holdings updates on equity transfer … Reuters - Thu, Mar 23, 2017 7:08 PM SGT

    March 23 (Reuters) - Shenguan Holdings (Group) Ltd: * Wuzhou Shenguan Investment and vendor entered into 2017equity transfer agreement * Upon completion of acquisition, Guangdong Victory will beheld as to 80% by wuzhou shenguan investment * Pursuant to agreement wuzhou shenguan investment toacquire 29% equity interests …

  • BRIEF-Liuzhou Chemical to receive government subsidies … Reuters - Thu, Mar 23, 2017 6:57 PM SGT

    March 23 (Reuters) - Liuzhou Chemical Industry Co Ltd * Says it will receive government subsidies of 350 millionyuan ($50.83 million) Source text in Chinese: http://bit.ly/2nUEFcy Further company coverage:($1 = 6.8861 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

  • BRIEF-Guangxi Hechi Chemical reaches debt restructuring … Reuters - Thu, Mar 23, 2017 6:29 PM SGT

    March 23 (Reuters) - Guangxi Hechi Chemical Co Ltd * Says it reaches debt restructuring agreement with 119suppliers Source text in Chinese: http://bit.ly/2nqTdCL Further company coverage: (Reporting by Hong Kong newsroom)

  • BRIEF-Cross-Harbour Holdings FY Net Profit amounted … Reuters - Thu, Mar 23, 2017 6:23 PM SGT

    March 23 (Reuters) - Cross-harbour Holdings Ltd : * Directors recommend payment of a final dividend of HK$0.17per share * Profit attributable to shareholders for year ended 31december 2016 amounted to HK$410.4 million, compared withHK$619.8 million in 2015. * Fy revenue HK$431 million versus HK$397.4 millionSource text …

  • BRIEF-Paladin Energy resolves to arbitrate against … Reuters - Thu, Mar 23, 2017 6:15 PM SGT

    March 23 (Reuters) - Paladin Energy Ltd * Paladin resolves to commence arbitration proceedingsagainst CNNC Overseas Uranium Holdings * resolved to commence arbitration proceedings against CNNCto seek orders and declarations accordingly. ...

  • UBS set to charge wealthy for keeping euro savings Reuters - Thu, Mar 23, 2017 5:10 PM SGT
    FILE PHOTO: The offices of Swiss bank UBS are seen in the financial district of the City of London

    By Joshua Franklin ZURICH (Reuters) - UBS , the world's biggest wealth manager, will impose a penalty charge on customers who park euros with the bank, one of the largest lenders to break what has been a taboo in finance as sub-zero interest rates bite. The Swiss bank will introduce from May an annual fee of 0.6 percent …

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