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  • China's yuan joins top 5 most-used global currencies Tuesday, 27 Jan 2015 | 10:18 PM ET

    BEIJING— China's yuan has become of the five most widely used currencies in global payments, an international financial transactions agency announced Wednesday. Beijing is gradually easing controls on the yuan and encouraging its use abroad in an effort to reduce costs for its traders and increase Chinese companies' role in the global economy.

  • *Coming up: API weekly oil data at 2130 GMT. NEW YORK, Jan 27- Oil prices jumped as much 3 percent on Tuesday as a weaker dollar propped up commodities priced in the currency, prompting short-covering in a market that has sold off with little pause over the past seven months. The American Petroleum Institute, an industry group, will release its weekly inventory report...

  • ATHENS, Jan 27- Greek Prime Minister Alexis Tsipras named a cabinet of anti-austerity veterans and halted privatisation of Greece's biggest port on Tuesday, signalling he aims to stick to election pledges despite warning shots from the euro zone and financial markets. Promising to reverse budget cuts and renegotiate Greece's huge debts, Tsipras's leftist...

  • NEW YORK, Jan 27- Oil rose more than 2 percent on Tuesday as a weaker dollar propped up commodities priced in the currency, prompting short-covering in a market that has sold off with little pause over the past seven months. The American Petroleum Institute, an industry group, will release its weekly inventory report at 2130 GMT. "It looks like crude is trying to...

  • EU says near deal with Washington on derivatives rules Tuesday, 27 Jan 2015 | 12:42 PM ET

    LONDON, Jan 27- The European Union and the United States are poised to accept each other's rules on financial derivatives trading in a bid to prevent a global market that supports economic growth from fragmenting, a senior EU official said on Tuesday. The bulk of swaps are traded in London and New York and banks say the prospect of rule clashes is already...

  • Greek markets slide on fears of clash with creditors Tuesday, 27 Jan 2015 | 12:18 PM ET

    *Bank stocks plummet, pulling down Athens index. LONDON, Jan 27- Greek borrowing costs jumped and a dive in bank stocks dragged down the Athens bourse on Tuesday, after weekend elections resulted in an anti-bailout government that looks set on a collision course with the country's creditors. This was up four percentage points since Sunday's vote although down...

  • The American Petroleum Institute, an industry group, will release its weekly inventory report at 2130 GMT. Official stockpile data for the Jan. 23 week will be issued on Wednesday by the government's Energy Information Administration, or EIA. "It looks like crude is trying to stabilize out here in the mid- $40 level, thanks to the weaker dollar," said Tariq Zahir,...

  • *Russia added 20.73 tonnes in December-IMF. *Gold price rose in December for first time in five months. SINGAPORE, Jan 27- Russia extended its buying spree of gold to a ninth straight month, and the price of gold rose for the first time in five months, data from the International Monetary Fund showed on Tuesday.

  • ATHENS, Jan 27- Greek Prime Minister Alexis Tsipras unveiled a cabinet of anti-austerity veterans on Tuesday, signaling he has no intention of backing away from election pledges despite warning shots from the euro zone and financial markets. Promising to reverse budget cuts and renegotiate Greece's huge debts, Tsipras's leftist Syriza party stormed to...

  • *Markets giving Greece benefit of the doubt for now. Investors have bid the dollar higher in anticipation that the Fed will be raising interest rates around mid-year as the U.S. economy recovers its growth momentum at the same time major central banks in Europe and Japan are loosening policies to spur activity. Given the durables data people are more wary of the...

  • Just 100 days before the polls, Prime Minister David Cameron's Conservatives and Ed Miliband's Labour party are both stuck on 32-34 percent of the vote, opinion polls show, weakened by surging support for alternative parties such as the UK Independence Party, the Scottish National Party and the Greens. "At the moment you have so many unknowns, it's not...

  • *Ericsson and Philips fall after weak updates. LONDON, Jan 27- Renewed concern over Greece and weak results at companies such as Siemens and Philips halted a winning run on European stock markets on Tuesday. The euro zone's blue-chip Euro STOXX 50 index also declined 1.4 percent after a similar eight-day winning streak.

  • Greek market spirals as clash with creditors looms Tuesday, 27 Jan 2015 | 6:43 AM ET

    Greece's malaise also weighed on other low-rated bonds, although the blow was cushioned by the prospect of the European Central Bank's new bond-buying scheme due to begin in March. "There is a general anxiety about the situation in Greece and how it is all going to play out," said Jakob Christensen, senior economist at distressed debt brokerage Exotix.

  • Britain's economy loses steam in fourth quarter Tuesday, 27 Jan 2015 | 6:31 AM ET

    LONDON— Official figures show Britain's economy slowed in the fourth quarter of 2014 but remained one of the better-performing economies in the developed world. However, the Office of National Statistics says the economy grew by 2.6 percent for the year— the best level since 2007 and among the highest rates among the world' biggest economies.

  • LONDON, Jan 27- Oil shippers face higher costs and the possible loss of insurance cover on Libyan voyages, caught in a struggle between the rival governments there and threatened by air attacks. John Dalby of maritime security firm MRM, said he had prepared evacuation plans for an unnamed oil company if the situation deteriorated further, adding that attacks on...

  • DUNDEE, Scotland, Jan 27- Among the social housing estates of Scotland's fourth largest city, Ed Miliband's bid to unseat Prime Minister David Cameron is in trouble: His opposition Labour party is haemorrhaging support to nationalists. Though Scots voted to stay part of the United Kingdom in a Sept. 18 referendum, support for the Scottish National Party has since...

  • FRANKFURT, Jan 27- Access to Facebook, the world's largest social network, and its Instagram photo-sharing site, were blocked around the world for up to an hour on Tuesday, which the company said later was due to an internal fault and not an outside attack. U.S.-based online match-making site Tinder, a unit of IAC/InterActive Corp, and Hipchat, the workplace instant-...

  • *Oil may have hit bottom, could rise soon, says OPEC's Badri. LONDON, Jan 27- Oil prices steadied above $48 a barrel on Tuesday, recovering from earlier losses as the dollar weakened against the euro. Prices were also supported after the Secretary-General of the Organization of the Petroleum Exporting Countries, Abdullah al-Badri, said oil prices may have bottomed...

  • LONDON, Jan 27- Britain's economic growth slowed more than expected in the final three months of last year, but with annual growth still at its fastest since 2007 the data gave ammunition to both sides of the political divide heading into May's election. While most countries have not yet reported 2014 growth data, Britain's is ahead of International Monetary...

  • LONDON, Jan 27- The European Union will put in place its "capital markets union" by 2019, starting with quick wins like encouraging direct investment in businesses, an EU document seen by Reuters showed. The document, co-written by EU financial services chief Jonathan Hill, sets out a timetable for the first time on a core policy plank of the European Commission to...