PARIS, Sept 16 (Reuters) - Shares in France's Lagardere (LAGA.PA) surged 20% on Thursday after media group Vivendi (VIV.PA) said it would buy another stake in the company, paving the way for a full takeover.

Canal+ owner Vivendi, which already owns 27% of Lagardere, said it had agreed to buy Amber Capital's 17.9% holding for 24.10 euros per share, or about 610 million euros ($718.95 million).

Vivendi said it would later launch a full bid at the same price once it has passed the 30% threshold requiring companies in France to make a takeover offer. read more

"We believe Vivendi is primarily interested in Lagardere's International Publishing business which would bring scale, synergies & savings to Editis", analysts at JP Morgan said in a note.

They also said that Vivendi would likely seek to sell the travel retail business to fund the acquisition.

If successful, the acquisition of Lagardere will mark the end of what was once one of France's...

Sept 16 (Reuters) - Britain's ASOS (ASOS.L) aims to cut its environmental impact, use more sustainable materials and appoint more diverse corporate leaders, it said on Thursday, joining a growing list of apparel companies setting new ESG targets.

The online fashion retailer also said its environmental, social and governance (ESG) goals include becoming carbon neutral in its direct operations by 2025 and achieving net-zero carbon emissions across its value chain by 2030.

Apparel companies globally are stepping up their focus on ESG as they cater to a growing class of environmentally and socially conscious consumers and investors demand more action from them.

The fashion industry in particular, known for its heavy use of water and chemicals, is facing mounting criticism for causing an estimated 10% of all greenhouse gas emissions.

ASOS said it would also ensure all of its own-brand products and packaging are made from more sustainable or recycled materials...

Sept 15 (Reuters) - Canadian Pacific Railway Ltd (CP.TO) inked a $27.2 billion cash-and-stock deal to buy Kansas City Southern (KSU.N) on Wednesday after Canadian National Railway Co (CNR.TO) conceded it could not save its own $29.6-billion deal for the U.S. railway.

The combination will create the first direct railway linking Canada, the United States and Mexico, with a network spanning 20,000 miles and approximately $8.7 billion of annual revenue. It marks the end of a high-stakes bidding war.

The $300 per share cash-and-stock deal that Canadian Pacific clinched is higher than the $275 per share cash-and-stock deal that it had secured in March to buy Kansas City Southern. That deal was scrapped when Canadian National wooed Kansas City Southern in May with a $325 per share cash-and-stock offer.

Kansas City Southern shares were little changed at $281.55 in Wednesday trading in New York.

Canadian National suffered a blow when the U.S. Surface...

Sept 16 (Reuters) - European stocks rose on Thursday as a rebound in travel stocks and overnight strength in Wall Street helped offset concerns about China's slowing economy that dragged down miners.

The pan-European STOXX 600 index (.STOXX) rose 0.6% by 0717 GMT, bouncing off a six-week closing low hit in the previous session. Travel & leisure (.SXTP) added 1.6%, while automakers (.SXAP) rose 1.2%.

Miners including Rio Tinto (RIO.L), Anglo American (AAL.L) and BHP Group (BHPB.L) were among the top drags as metal prices fell after China reiterated plans to release more metals from its reserves.

German automotive supplier Continental AG (CONG.DE) slumped 11.7% to the bottom of STOXX 600 after the spin-off of its unit Vitesco.

Utilities (.SX6P) inched up 0.2%, still under pressure amid concerns over measures to reduce energy bills in Spain and elsewhere. The index fell almost 3% on Wednesday.

HONG KONG/SHANGHAI, Sept 16 (Reuters) - China Evergrande Group's (3333.HK) main unit, Hengda Real Estate Group Co Ltd, applied on Thursday to suspend trading of its onshore corporate bonds following a downgrade, as the country's No.2 property developer wrestles with a liquidity crisis.

The application follows repeated trading freezes of the bonds in recent days by the Shanghai and Shenzhen stock exchanges due to volatile trade.

With total liabilities of more than $300 billion, Evergrande is scrambling to raise funds as it teeters between a messy meltdown with far-reaching impacts, a managed collapse or a government bailout. read more

Suspension of trade in Hendga's onshore corporate bonds indicates an increasing likelihood of defaults and restructuring, market participants said.

Hengda received notice on Sept. 15 from rating agency China Chengxin International (CCXI) that the bonds' ratings had been downgraded to A from AA, and that both the bonds'...

Sept 16 (Reuters) - Air New Zealand Ltd (AIR.NZ) said on Thursday it was studying how it could use low-carbon technologies like electric, hybrid or hydrogen powered planes to dramatically reduce emissions from shorter and regional flights as soon as 2030.

The airline signed a memorandum of understanding with Airbus SE (AIR.PA) to research the impact hydrogen planes would have on Air New Zealand's network, operations and infrastructure.

Airbus said it is hoping to bring a hydrogen plane to market by 2035 - a goal some industry officials and analysts believe to be ambitious.

This agreement brings us a step closer to "seeing low carbon solutions in place for our shorter domestic and regional flights in the next decade," said Air New Zealand Chief Executive Greg Foran.

Airbus has already struck similar hydrogen study deals with easyJet (EZJ.L) and SAS (SAS.ST) in Europe as airlines around the world look to meet ambitious emissions targets in line with...

HONG KONG, Sept 16 (Reuters) - Asian shares gave up early gains to fall again on Thursday, weighed by declines in China and Hong Kong, even after a strong lead-in from Wall Street which had also pushed the dollar to the lower end of its recent range.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was last down 0.45%, while Japan's Nikkei (.N225), shed 0.47%, after hitting 31-year high it hit on Monday.

"It's a bit choppy and uncertain at present, we've had a few soft days on the back of worries about global growth and then suddenly markets, at least U.S. markets, conclude 'its not that bad after all'," said Shane Oliver, chief economist at AMP Capital.

He added worries about inflation and supply chain issues could still weigh on shares in the coming weeks, and "of course in Asia we've got a slowdown in China."

There were gains on Thursday in Australia (.AXJO), up 0.65%, but the Hong Kong benchmark (.HSI) fell 0.42% with...

Sept 15 (Reuters) - Self-driving startup Argo AI, automaker Ford Motor Co (F.N) and Walmart Inc (WMT.N) will together launch an autonomous vehicle delivery service in Miami, Austin, and Washington, D.C, the companies said on Wednesday.

Initial integration testing is expected to begin later this year, the companies added.

The move comes as consumer expectations shift to next-day or same-day delivery, particularly in urban areas with a higher concentration of deliveries.

Sept 16 - A look at the day ahead from Danilo Masoni.

As pressure builds on China's tech and real estate moguls and its economic growth falters, markets worldwide are starting to get uneasy. But it's Europe, with its export-oriented economy and supercharged luxury stocks reliant on affluent Asian shoppers, which is likely to feel the most genuine pain.

The STOXX 600 index (.STOXX) has fallen 1% so far in September, twice as much world stocks (.MIWO00000PUS), and while Europe broadly is still in favour with investors and research analysts, the index has slipped all the way down to July lows.

Wall Street's strength overnight could trigger a relief bounce this morning, but the China woes are far from over.

The worsening crisis at China's No. 2 property developer Evergrande has sent its shares to decade lows, pushed Asian stock markets to their fourth day of losses. Trading in Evergrande bonds has been suspended. And virus outbreaks are clouding travel plans...

PARIS, Sept 16 (Reuters) - France will look to ensure any financial hit to Naval Group from a cancelled Australia submarine deal is limited, French Armed Forces Florence Parly said on Thursday.

Parly did not rule out France seeking compensation from Australia.

"We are studying all avenues," Parly told French radio RFI when asked whether France might seek compensation.

SINGAPORE, Sept 16 (Reuters) - Oil prices slipped on Thursday, paring back only some of the large gains made the previous day on the back a larger-than-expected drawdown in crude oil stocks in the United States.

Brent crude oil fell 12 cents, or 0.2%, to $75.34 a barrel by 0649 GMT, after rallying 2.5% the previous day.

U.S. West Texas Intermediate (WTI) crude was down 14 cents, or 0.2%, at $72.47 after surging 3.1% on Wednesday.

U.S. crude oil and fuel stockpiles dropped sharply last week, as refiners in the U.S. Gulf region and oil facilities offshore were still recovering from Hurricane Ida, the Energy Information Administration (EIA) said on Wednesday. The United States is the world's largest oil consumer.

Crude inventories fell by 6.4 million barrels in the week to Sept. 10 to 417.4 million barrels, the EIA said, compared with expectations in a Reuters poll for a 3.5 million-barrel drop.

"The data follow warnings from the International Energy...

TOKYO, Sept 16 (Reuters) - The dollar drifted near the middle of its range of the past month versus major peers on Thursday, as traders looked to next week's Federal Reserve policy meeting for indications on how soon the U.S central bank will start to taper stimulus.

The New Zealand dollar jumped after the economy grew at a much faster pace than expected, reinforcing the view that the central bank will start lifting interest rates despite a recent outbreak of the coronavirus. read more

The kiwi was 0.23% higher at $0.7125, after briefly surging as much as 0.47%.

The dollar index , which measures the currency against six rivals, was at 92.483, little changed from Wednesday.

It reached a two-week high of 92.887 at the start of the week, only to drop to a one-week low at 92.321 on Tuesday after a softer-than-expected inflation report. Its low for the month was 91.941, hit on Sept. 3, when payrolls data disappointed.

"We're waiting for the FOMC next...

Sept 15 (Reuters) - AMC Entertainment (AMC.N) CEO Adam Aron said on Wednesday AMC Theatres will accept Bitcoin for online ticket and concession payments, and similarly accept other cryptocurrencies like Ethereum, Litecoin and Bitcoin Cash.

"Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash," Aron tweeted.

Sept 16 (Reuters) - Commonwealth Bank of Australia (CBA.AX), the country's top lender, said on Thursday it would plead guilty to 30 charges brought against it in the federal court for mis-selling consumer credit insurance (CCI) to its customers.

Scrutiny of Australian lenders and financial institutions has ramped up significantly since a Royal Commission inquiry in 2018 found widespread shortcomings in the sector, forcing companies and regulators to take swift action.

The development follows criminal prosecution for alleged false and misleading representations against Bank of Queensland's (BOQ.AX) unit ME Bank in May and a lawsuit against no. 2 lender Westpac (WBC.AX) in April.

The charges, filed by the Australian Securities and Investments Commission (ASIC) on Thursday, relate to promotion and sale of certain policies as an add-on insurance product to 165 customers, CBA said in a statement.

"CBA apologises to customers who were affected by these issues...

Sept 16 (Reuters) - Cigarette maker Philip Morris International (PMI) (PM.N) said on Thursday it had received about 75% of Vectura (VEC.L) shares from shareholders as part of a public tender offer process to acquire the British company.

"We have reached an important milestone in our acquisition of Vectura and are pleased to have secured over 74% of the company's shares, in excess of the 50% required to make our offer unconditional and PMI the majority shareholder," said PMI Chief Executive Officer Jacek Olczak.

Sept 16 (Reuters) - Australia's competition regulator on Thursday raised concerns over meatpacker JBS SA's (JBSS3.SA) proposed A$175 million ($128.3 million) acquisition of pork processor Rivalea.

Brazil's JBS in June announced an agreement to buy Rivalea from Singapore-listed QAF Ltd (QAFS.SI) in a deal that would make it Australia's market leader in pork processing.

If the deal proceeds, JBS will have a significant presence in pig farming, export-accredited pig abattoirs, and related products through its Primo Smallgoods brand, the Australian Competition and Consumer Commission (ACCC) said.

"Our concern is not limited to JBS potentially denying access to processing facilities, it's also about the price and terms on which access would be provided," ACCC Deputy Chair Mick Keogh said.

The regulator also raised concerns that after the deal, JBS may raise the price of fresh pork or reduce the supply of pork to some producers from Rivalea's Diamond Valley...

WELLINGTON, Sept 16 (Reuters) - New Zealand's economy grew at a much faster pace than expected in the second quarter, officials said on Thursday, reinforcing views that the central bank will start raising interest rates despite a recent outbreak of the coronavirus.

Gross domestic product (GDP) surged 2.8% in the three months through June, Statistics New Zealand said, well ahead of a Reuters poll forecast of a 1.3% increase and the Reserve Bank of New Zealand's (RBNZ) estimate of 0.7%.

The growth surge follows a drop in unemployment in the second quarter to an 18-month low of 4.0% and a rise in annual inflation to 3.3%, above the central bank's 1-3% target range.

The New Zealand dollar jumped 0.3% after the data was released, settling at $0.7320.

"We expect the RBNZ to 'look through' near-term volatility and reduce monetary stimulus, with a series of 25 basis point (rate) hikes starting from next month," said Mark Smith, Senior Economist at ASB...

Sept 16 (Reuters) - Australia's securities regulator said on Thursday 30 criminal charges had been filed in the federal court against top lender Commonwealth Bank of Australia (CBA.AX) for mis-selling consumer credit insurance to its customers.

The charges relate to promotion and sale of certain policies as an add-on insurance product, the Australian Securities and Investments Commission (ASIC) said.

In April, the ASIC also sued no. 2 lender Westpac Banking Corp (WBC.AX) and alleged it sold consumer credit insurance to customers who had not agreed to buy it.

ASIC said on Thursday the charges address allegations that between 2011 and 2015, CBA made false or misleading representations about benefits of the insurance policies to customers when some or all the benefits were not available.

The development follows criminal prosecution for alleged false and misleading representations against Bank of Queensland's (BOQ.AX) unit ME Bank in May.

CBA's matter...

Sept 15 (Reuters) - PepsiCo (PEP.O) will cut back on the use of virgin plastic and expand its SodaStream carbonated-water business to more markets amid growing calls to combat climate change, although some environmental groups want the company to do more.

As part of a new initiative called "pep+", the food and beverage giant said on Wednesday it was aiming to reduce virgin plastic use per serving by half across all brands by 2030 and use 50% recycled content in all its plastic packaging.

It also plans to focus on healthier food by introducing plant-based protein snacks in partnership with Beyond Meat Inc (BYND.O). PepsiCo is targeting early 2022 for its first Beyond Meat products, Chief Executive Ramon Laguarta told CNBC in an interview.

The moves come as PepsiCo and rival Coca-Cola (KO.N) have become new targets for global activism, given the amount of single-use plastic waste they generate. The companies have also featured on NGO Break Free From Plastic's...

HONG KONG, Sept 16 (Reuters) - China Evergrande Group (3333.HK) has raised fresh warnings of default risks, as it scrambles to raise funds to pay lenders and suppliers with regulators and financial markets worried that any crisis could ripple through China's banking system and trigger social unrest. read more

WHAT IS EVERGRANDE?

Founded in 1996 by Chairman Hui Ka Yan in Guangzhou, Evergrande is China's second-largest property developer with $110 billion in sales last year.

The company listed in Hong Kong in 2009, helping it grow its asset size to $355 billion today. It has more than 1,300 developments across the nation, many in smaller cities.

With sales growth slowing in recent years, Evergrande has branched into businesses such as electric cars, football, insurance and bottled water.

HOW DID CONCERNS ARISE OVER DEBT?

Investors became worried in September last year after a leaked letter purportedly from the company showed Evergrande had...

Sept 15 (Reuters) - Former Amazon.com Inc (AMZN.O) cloud executive Charlie Bell said he has joined Microsoft Corp (MSFT.O) to lead a newly formed role overseeing cybersecurity operations.

Bell, who will start as an executive vice president, indicated in a LinkedIn post that his role will include dealing with digital fraud, ransomware attacks and with public exposure of private data.

Bell's appointment comes at a time when Microsoft has been hit hard in terms of cybersecurity shortcomings.

Last week, the company warned some of its Azure cloud computing customers that a major flaw discovered by security researchers could have allowed hackers access to their data. read more

In late August, security experts at Wiz described a database flaw that also would have allowed one customer to alter another's data in the Azure cloud platform. read more

Bell, who long reported to former Amazon Web Services chief Andy Jassy and oversaw the engineering teams...

Sept 15 (Reuters) - Canadian Pacific Railway Ltd (CP.TO) inked a $27.2 billion cash-and-stock deal to buy Kansas City Southern (KSU.N) on Wednesday after Canadian National Railway Co (CNR.TO) conceded it could not save its own $29.6-billion deal for the U.S. railway.

The combination will create the first direct railway linking Canada, the United States and Mexico, with a network spanning 20,000 miles and approximately $8.7 billion of annual revenue. It marks the end of a high-stakes bidding war.

The $300 per share cash-and-stock deal that Canadian Pacific clinched is higher than the $275 per share cash-and-stock deal that it had secured in March to buy Kansas City Southern. That deal was scrapped when Canadian National wooed Kansas City Southern in May with a $325 per share cash-and-stock offer.

Kansas City Southern shares were little changed at $281.55 in Wednesday trading in New York.

Canadian National suffered a blow when the U.S. Surface...

LONDON, Sept 16 (Reuters) - Top emitters of carbon are not disclosing the full risks associated with climate change, reducing the chances of meeting global emissions targets, a study by Carbon Tracker and the Climate Accounting Project (CAP) said on Thursday.

The CAP is an informal team of accounting and finance experts drawn from the investor community and commissioned by the Principles for Responsible Investment (PRI), while Carbon Tracker is funded by around 30 charitable foundations.

Of 107 listed companies assessed in the study, across sectors including oil and gas, automobiles and aviation, more than 70% did not reflect the full risks resulting from climate change in their 2020 accounts, the report released on Thursday by Carbon Tracker said.

"Based on the significant exposure these companies have to transition risk, and with many announcing emissions targets, we expected substantially more consideration of climate matters in the financials than we...

NEW YORK, Sept 15 (Reuters) - U.S. stocks closed higher on Wednesday as rising crude prices boosted energy shares and a swath of positive U.S. data suggested inflation has crested and the economic recovery remains robust, boosting investor sentiment.

All three major U.S. stock indexes gathered strength as the session progressed, with economically sensitive cyclicals, smallcaps (.RUT) and transportation stocks (.DJT) leading the charge.

While value stocks (.IVX) initially held the advantage, the risk-on sentiment gained momentum through the afternoon, broadening to include growth stocks (.IGX).

"Today is the first time in a while when both growth and value stocks are doing pretty well. It's been either or for much of the last few weeks and today it's both," said Chuck Carlson, chief executive of Horizon Investment Services in Hammond, Indiana. "Breadth matters, and that's something investors like to see."

A host of economic data showed hints of waning...

STRASBOURG, Sept 15 (Reuters) - The European Commission announced plans on Wednesday for a new chipmaking "ecosystem", to keep the EU competitive and self-sufficient after a global semiconductor shortage showed the hazards of relying on Asian and U.S. suppliers.

The United States last year announced its CHIPS for America Act aimed at boosting its ability to compete with Chinese technology.

"Digital is the make-or-break issue," Commission President Ursula von der Leyen said in a policy speech at the European Parliament in Strasbourg on Wednesday.

"We will present a new European Chips Act. The aim is to jointly create a state-of-the-art European chip ecosystem, including production. That ensures our security of supply and will develop new markets for ground-breaking European tech."

Industry Commissioner Thierry Breton said chips were more than just key components for automakers, smartphone makers and video gamers.