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Europe Closes Lower; Fed in Focus

Austria

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  • GENEVA, June 3- Switzerland has no choice but to bow to a U.S. ultimatum and sidestep its banking secrecy laws to end an investigation into how Swiss banks helped wealthy Americans to evade taxes, former Deutsche Bank head Josef Ackermann said.

  • GENEVA, June 3- Switzerland has no choice but to bow to a U.S. ultimatum and sidestep its banking secrecy laws to end an investigation into how Swiss banks helped wealthy Americans evade taxes, ex- Deutsche Bank AG head Josef Ackermann said.

  • GENEVA, June 3- Switzerland has no choice but to bow to a U.S. ultimatum and sidestep its banking secrecy laws to end an investigation into how Swiss banks helped wealthy Americans evade taxes, ex- Deutsche Bank AG head Josef Ackermann said.

  • LONDON, May 31- If OPEC is eventually forced to trim its oil exports in response to the shale boom, Saudi Arabia will have to shoulder most of the production cuts.

  • UPDATE 3-OPEC's high output, high price days dwindle Friday, 31 May 2013 | 8:58 AM ET

    *Echoes of 1980 s non- OPEC supply surge. VIENNA, May 31- OPEC's halcyon days of high prices and high production may be drawing to a close as soaring U.S. output opens a new era for world oil markets.

  • UPDATE 2-OPEC keeps oil output target for 2013 Friday, 31 May 2013 | 7:55 AM ET

    VIENNA, May 31- OPEC oil exporters, basking in the market's equilibrium, agreed to leave output policy unchanged on Friday as oil held around the group's preferred level of $100 a barrel.

  • OPEC has agreed to keep oil output target unchanged Friday, 31 May 2013 | 7:35 AM ET

    VIENNA, May 31- OPEC oil ministers agreed at their meeting on Friday to keep the group's oil output target unchanged for the rest of this year, a delegate at the meeting said. The Brent crude oil price at close to $100 a barrel on Friday is at OPEC's preferred level to satisfy both producers and consuming countries.

  • *OPEC members agree over leaving output target unchanged. LONDON, May 31- Oil prices dipped below $102 a barrel as statements from OPEC delegates at Friday's ministerial meeting in Vienna indicated members were in agreement over keeping the output target at 30 million barrels per day.

  • VIENNA, May 31- OPEC oil exporters, basking in the market's equilibrium, were on course to leave output policy unchanged on Friday as oil held around the group's preferred level of $100 a barrel.

  • OPEC set to keep output target for 2013 Friday, 31 May 2013 | 3:43 AM ET

    VIENNA, May 31- OPEC oil exporters, basking in the market's equilibrium, were on course to leave output policy unchanged on Friday as oil held around the group's preferred level of $100 a barrel. OPEC's choice of a new secretary general has stalled on competing candidates from Iran, Iraq and Saudi Arabia.

  • Reluctant Slovenia faces fire sale of state assets Friday, 31 May 2013 | 1:00 AM ET

    Slovenia is scrambling to sell the chain, along with more than a dozen state firms that the tiny Alpine country must divest to avoid going cap in hand to the European Union for a bailout of its floundering financial system.

  • U.S. crude oil futures settled 48 cents higher at $93.61 per barrel, rising one-half percent after sinking as low as $91.65. Brent crude oil futures settled 24 cents lower at $102.19 a barrel after trading between $101.08 and $102.85.

  • UPDATE 7-Crude oil lifted by drop in gasoline stocks Thursday, 30 May 2013 | 1:01 PM ET

    NEW YORK/ LONDON, May 30- Crude oil futures rebounded from early losses to move higher in afternoon trading in New York on Thursday in reaction to government data that indicated increased U.S. demand for gasoline at the kick-off of summer driving season.

  • *OPEC expected to maintain output policy in Friday meeting. LONDON, May 30- Oil prices steadied above $102 a barrel on Thursday, erasing earlier losses after a draw in U.S. gasoline stocks sparked hopes for stronger demand in the world's top oil consumer despite crude stocks hitting a record high.

  • UPDATE 5-Oil drops towards $101 after U.S. data Thursday, 30 May 2013 | 9:28 AM ET

    LONDON, May 30- Oil prices fell to nearly $101 a barrel on Thursday, extending the previous session's losses after U.S. first quarter growth was revised lower, stoking concerns over the demand outlook. Brent crude was down $1.21 to $101.22 a barrel by 1310 GMT, extending Wednesday's $1.80 drop.

  • *Banks opposed levy, London taking legal action. But the move also reflects big practical problems in collecting the revenue and political divisions over the tax, which has encountered legal challenges from London and caused concern even among the 11 euro zone countries backing it.

  • UPDATE 1-OPEC shifts its oil trade map after shale Thursday, 30 May 2013 | 6:59 AM ET

    VIENNA, May 30- OPEC oil exporters on Thursday, set to leave output policy unchanged, were weighing the impact of rising supplies of U.S. shale oil that are redrawing the landscape of global oil trade.

  • OPEC oil output falls closer to target in May-survey Thursday, 30 May 2013 | 5:07 AM ET

    *OPEC pumps just 330,000 bpd above target. VIENNA, May 30- OPEC crude output has fallen in May due to lower exports from Iraq and disruptions in some African producers, a Reuters survey found, improving compliance with an OPEC output ceiling expected to be maintained at a meeting this week.

  • OPEC, in no mood for fight, weighs U.S. oil boom Thursday, 30 May 2013 | 4:00 AM ET

    VIENNA, May 30- OPEC oil exporters on Thursday were in no mood to fight over how much crude to produce and instead weighed the impact of rising supplies of U.S. shale and a looming turf war in Asia.

  • *IMF and OECD cut China growth forecasts. *OPEC oil ministers look set to maintain output targets. NEW YORK, May 29- Oil futures slid nearly 2 percent on Wednesday, as U.S. equity markets slid lower and investors worried about an uncertain demand outlook for the global economy following weak growth forecasts for China.

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