METALS-London copper rises for 4th day, touches 2019 high

BEIJING, Jan 18 (Reuters) – London copper prices rose for a fourth straight session early on Friday, hitting their highest level so far this year, on signs the United States and top metals consumer China are closer to resolving their long-running trade dispute. Copper is on course to add 1.2 percent this week to mark its biggest weekly gains since the week ended Nov. 16. FUNDAMENTALS * LME COPPER: Three-month copper on the London Metal Exchange rose as much as 0.4 percent to $6,015, the most since Dec. 31, and…

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PRECIOUS-Palladium holds near record levels on supply woes; gold steady

BENGALURU, Jan 18 (Reuters) – Palladium held near $1,400 an ounce on Friday after surging to record levels in the previous session on tight supplies and robust demand, while gold stood firm amid a partial U.S. government shutdown. FUNDAMENTALS * Spot palladium was up 0.3 percent at $1,400.50 per ounce at 0116 GMT, having hit an all-time high of $1,434.50 on Thursday. The metal is on track to climb for a fourth week in its strongest weekly gain since the week ending Sept. 21. It has risen around 11 percent…

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Immunomedics' cancer treatment fails to win accelerated approval from the FDA

(Reuters) – Immunomedics Inc said on Thursday the U.S. Food and Drug Administration declined to grant accelerated approval for its breast cancer treatment, sacituzumab. The company said it will request a meeting with the agency and work closely with the health regulator in its effort to launch the treatment as soon as possible. “The issues related to approvability in the CRL (complete response letter) were exclusively focused on Chemistry, Manufacturing and Control matters and no new clinical or preclinical data need to be generated,” Immunomedics Chief Executive Officer Michael Pehl…

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PRESS DIGEST- Financial Times – Jan 18

Jan 18 (Reuters) – The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines Hitachi pullout throws UK nuclear policy into disarray on.ft.com/2HlvLm6 Facebook removes hundreds of ‘fake’ accounts linked to Russia on.ft.com/2Hk7NYp Gymboree bankruptcy puts 10,000 retail jobs at risk on.ft.com/2HgGwG8 Overview Hitachi Ltd on Thursday became the second Japanese company to pull out of building a new nuclear power plant in the United Kingdom, with the cancellation of the Wylfa project in north Wales…

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Brazil regulator moves to ground 20 pct of Avianca Brasil's fleet

SAO PAULO (Reuters) – Brazil’s aviation regulator said on Thursday it was going to ground 10 planes operated by Avianca Brasil, 20 percent of its fleet, prompting the carrier to go to court seeking to prevent the decision being enforced. The regulator, known as ANAC, said it was acting at the request of one of various lessors involved in a festering legal dispute with Avianca Brasil, which filed for bankruptcy last month after falling behind with lease payments. In response, Avianca Brasil, the country’s fourth largest airline, filed an emergency…

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GLOBAL MARKETS-Asia stocks gain on hopes for eased U.S.-China tension

TOKYO (Reuters) – Asian stocks gained early on Friday, as hopes for a thaw in the U.S.-China trade conflict fed investor appetites for risk assets. The Wall Street Journal reported on Thursday that U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for Jan. 30. U.S. stocks rallied following the report, but pared some of those gains after a Treasury spokesperson told CNBC that Mnuchin had not made any such recommendations. For the day,…

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REFILE-UPDATE 2-Rio Tinto's 2019 iron ore guidance at lower end of forecasts

(Reuters) – Global miner Rio Tinto on Friday logged a slight drop in quarterly iron ore production in December and said it expected to produce more iron ore in 2019 in a target range that was at the lower end of analyst expectations. Mined copper production beat its guidance, mostly due to higher grades and better productivity at Rio Tinto’s Kennecott operations in the U.S. state of Utah, the company said in a statement. Rio’s fourth-quarter iron ore production stood at 86.6 million tonnes, down by 1 percent from the…

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FOCUS-Consumer giants spurn risks to chase online subscribers

LONDON (Reuters) – Major consumer companies including Unilever (ULVR.L), Procter & Gamble (PG.N) and Nestle (NESN.S) are chasing consumers who want food and household goods delivered automatically, even though this kind of business has not always worked. The companies are pitching new online subscription services, which promise stable revenues, lower delivery costs and valuable data about customers. The world’s biggest packaged food company, Nestle, whose Nespresso coffee is already a sizeable subscription business, recently launched a subscription program for nutritional drinks in Japan and expanded ReadyRefresh, an online bottled water…

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UPDATE 2-Rio Tinto's 2019 iron ore guidance at lower end of forecasts

(Reuters) – Global miner Rio Tinto on Friday logged a slight drop in quarterly iron ore production in December and said it expected to produce more iron ore in 2019 in a target range that was at the lower end of analyst expectations. Mined copper production beat its guidance, mostly due to higher grades and better productivity at Rio Tinto’s Kennecott operations in the U.S. state of Utah, the company said in a statement. Rio’s fourth-quarter iron ore production stood at 86.6 million tonnes, down by 1 percent from the…

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U.S. refiners scramble as White House eyes Venezuela sanctions

(Reuters) – U.S. refiners are bidding up prices for scarce types of crude oil needed for their most sophisticated plants as the United States reconsiders harsher sanctions on Venezuela that could further reduce imports of the country’s oil. Trump administration officials in recent days met with U.S. oil company executives to lay out potential actions in response to the Jan. 10 inauguration of Venezuelan President Nicolas Maduro in an election it considered illegitimate. Among other steps, U.S. officials have recognized the opposition-run Venezuelan congress as the only legitimately elected authority.…

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