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.

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 ratings and its issuer rating were put on a watch list for further downgrades, it said in a stock exchange filing.

Hengda applied to suspend trade of its onshore corporate bonds for one day, it said. On the resumption of trade on Sept. 17, its Shanghai and Shenzhen exchange-traded bonds will only be traded through negotiated transactions.

A bond trader, who declined to be...

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) - The U.S. Treasury Department on Wednesday denied a request by Canadian gold miner Crystallex to receive shares in Venezuelan-owned U.S. refiner Citgo Petroleum Corp as partial payment for debt, according to a document seen by Reuters.

Treasury's Office of Foreign Assets Control (OFAC) told Crystallex the State Department had determined such a sale would be inconsistent with U.S. foreign policy interests, but that Washington would reassess these considerations during the first half of 2022.

Citgo has been controlled by Venezuelan opposition leader Juan Guaido since 2019, when Washington recognized him as the South American country's leader and sanctioned state oil company PDVSA - Citgo's ultimate parent - in a bid to oust President Nicolas Maduro, who it accused of election-rigging.

A judge approved the sale of shares in Citgo's immediate parent earlier this year to satisfy Crystallex's $1.4 billion judgment for the expropriation of its...

MUMBAI, Sept 16 (Reuters Breakingviews) - Getting Teslas (TSLA.O) on the road in India would be a flashy boost to the country’s goal of rapidly electrifying its car market. But New Delhi can afford to resist granting boss Elon Musk a shortcut to his desired destination.

Camouflaged Teslas have been spotted on Mumbai roads in recent weeks as the company won approval to sell four models in India. At present, it can only import them, with eye-watering tariffs as high as 100%. Musk wants the government to lower the levy, dangling the prospect of building a factory in India if there’s sufficient demand.

A factory based on Tesla’s current range seems a stretch. The starting price for its cheapest vehicle, the Model 3, is 235,900 yuan ($36,506) in China, where the company has a factory. That’s several times the average cost of a car in India and on the cusp of the luxury category which has barely a 1% share of a relatively small market: Overall passenger-car sales in India...

NEW YORK, Sept 15 (Reuters) - U.S. stocks ended higher on Wednesday as surging crude prices boosted energy shares and a swath of positive U.S. data suggested inflation has crested and the economic recovery remains robust, prompting a broad rally.

All three major U.S. stock indexes gathered strength, 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 inflation and an ongoing return...

SINGAPORE, Sept 16 (Reuters) - Oil prices slipped on Thursday, but kept most of the previous day's gains after a larger-than-expected drawdown in crude oil stocks in the United States, the world's largest oil consumer.

Brent crude oil fell 13 cents, or 0.2%, to $75.33 a barrel by 0128 GMT, after settling up 2.5% the previous day.

U.S. West Texas Intermediate (WTI) crude slipped 12 cents, or 0.2%, to $72.49, after settling 3.1% higher 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.

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 Agency that supply lost from storms...

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 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.

NEW YORK, Sept 15 (Reuters) - A southern California company that sells beer, wine and bottled water targeting female customers has been sued by the U.S. Securities and Exchange Commission for allegedly defrauding investors out of millions of dollars.

In a complaint filed on Tuesday, the SEC said SHE Beverage Co raised over $15 million from more than 2,000 investors in unregistered stock sales from 2017 to 2019 by falsely touting its business plans and promoting its successes.

The SEC said the Lancaster, California-based company overstated revenue, spent only 2% of investor proceeds on beverage inventory instead of the promised 30% and made bogus claims it had received takeover bids as high as $500 million.

It also said Chief Executive Lupe Rose, Chief Financial Officer Sonja Shelby and Chief Operations Officer Katherine Dirden misappropriated at least $7.5 million from investors, including $1.2 million spent at casinos and other sums to buy cars, trucks and...

NEW YORK, Sept 15 (Reuters) - Global shares edged higher on Wednesday on the strength of U.S. equities markets that were boosted by rising oil prices and positive economic data out of the United States.

U.S. factory production data showed that manufacturing was strong in August despite a slowdown due to closures related to severe storms and the ongoing microchip shortage. read more

Earlier in the day U.S. import prices for August declined for the first time in 10 months. That followed Tuesday data from the U.S. Labor Department showing that inflation cooled last month and may have peaked. read more

U.S. oil rose by more than $2 on Wednesday after stockpiles fell last week to their lowest since September 2019.

The MSCI All Country World Index (.MIWD00000PUS) gained 0.26%, and all three of the major U.S. stock indexes closed higher.

However, the pan-European STOXX 600 index (.STOXX) closed down 0.80% after U.K. data showed that inflation hit a...

NEW YORK, Sept 15 (Reuters) - U.S. stocks ended higher on Wednesday as surging crude prices boosted energy shares and a swath of positive U.S. data suggested inflation has crested and the economic recovery remains robust, prompting a broad rally.

All three major U.S. stock indexes gathered strength, 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 inflation and an ongoing return...

NEW YORK, Sept 15 (Reuters) - Global shares inched up on Wednesday on the strength of U.S. equities markets that were boosted by positive factory data.

U.S. factory production data showed that manufacturing remained strong despite a slowdown due to factory closures related to Hurricane Ida and the ongoing microchip shortage. read more

Also out of the U.S. import prices declined for the first time in 10 months in August. That followed Tuesday data from the U.S. Labor Department showing that inflation cooled last month and may have peaked. read more

The MSCI All Country World Index (.MIWD00000PUS)0.21%. The S&P 500 (.SPX) rose from more than a three-week low and the Dow Jones index (.DJI) recovered from a near two-month trough hit on Tuesday.

"The Delta wave is likely receding in the U.S. and globally, and the pandemic recovery should restart," JPMorgan Securities analyst Marko Kolanovic wrote, referring to the highly infectious coronavirus delta...

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 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...

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...

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...

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.

NEW YORK, Sept 15 (Reuters) - Wall Street stocks advanced on Wednesday as surging crude prices boosted energy shares and a swath of U.S. data suggested inflation has crested and an economic revival has become increasingly certain.

All three major U.S. stock indexes gathered strength throughout the session as investor favor pivoted back to value stocks, which stand to benefit most from an economic rebound.

"The main factor in that move between growth and value is COVID and the Delta variant and its impact on the economy," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

"Over time, we've seen the market focus flip flop between these two outlooks for the economy as investors try to grapple with the near-term economic outlook."

The Dow Transportation index (.DJT), a barometer of economic health, outperformed the broader market.

A host of economic data showed hints of waning inflation and an ongoing return to economic...

SAO PAULO, Sept 15 (Reuters) - Brazil's central bank announced on Wednesday new rules making it mandatory for banks to incorporate climate change-related risks, such as droughts, floods and forest fires in their stress tests, starting in July 2022.

Central bank director Otavio Damaso said the new regulation aims to avoid potential financial instability stemming from climate-related risks. However, for now the central bank will not require additional capital to cover for potential climate-change related risks, leaving that decision to banks.

The move puts Brazil's central bank among the growing ranks of financial regulators demanding climate-related action from banks. A few countries, including France and the Netherlands, have already launched stress tests incorporating climate-change related risks, and many others are in the pipeline, according to the Financial Stability Institute. read more

Brazil's central bank is not prohibiting lenders from extending any...

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...

NEW YORK, Sept 15 (Reuters) - U.S. stocks ended higher on Wednesday as surging crude prices boosted energy shares and a swath of positive U.S. data suggested inflation has crested and the economic recovery remains robust, prompting a broad rally.

All three major U.S. stock indexes gathered strength, 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 inflation and an ongoing return...

MADRID, Sept 15 (Reuters) - Fashion brand Zara owner Inditex (ITX.MC) has outpaced Swedish rival H&M (HMb.ST) in its efforts to bounce back from the coronavirus crisis, with second-quarter sales rising above pre-pandemic levels.

The world's biggest fashion retailer's sales in the quarter edged above levels seen before the pandemic as most stores reopened and people rushed to renew their wardrobe after store closures imposed to curb the spread of the virus.

Rival H&M's (HMb.ST) sales grew less than expected from a year ago in the three months through August, and remained lodged below pre-pandemic levels. H&M said lockdowns and restrictions hampered its development, particularly in Asia. read more

Inditex Executive Chairman Pablo Isla said that sales in stores and online were progressively recovering across all brands and markets, despite some restrictions in Asia due to the pandemic.

"We have had a strong start in the autumn winter season,"...