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  • NEW YORK, Dec 22- The dollar recovered ground late on Monday on rising U.S. The two-year Treasury auction of just over 70 basis points is the highest since mid-2011, and that's widening the dollar's front-end yield advantage and driving it higher, "said Vassili Serebriakov, currency strategist at BNP Paribas in New York. The euro slipped past Friday's 2-1/ 2 year low...

  • *U.S. crude falls more than $2 intraday; Brent down over $1. NEW YORK, Dec 22- Oil prices resumed their downward march on Monday, doubling back on the biggest one-day gain in over two years, after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price. After a weekend of comments from several Gulf OPEC members reiterating their intent not...

  • NEW YORK, Dec 22- Equity markets worldwide edged higher on Monday after rising expectations for more European stimulus supported shares in the region, while year-end buying underpinned U.S. stocks. Anticipation of outright government bond buying from the European Central Bank and greater political stability in Greece boosted European bourses.

  • Europe stocks end higher; Greek shares rally Monday, 22 Dec 2014 | 12:33 PM ET

    *FTSEurofirst 300 up 0.4 pct, FTSE 100 up 0.5 pct. *France's Soitec tumbles after profit warning. Britain's blue-chip FTSE 100 index advanced by 0.5 percent, Germany's DAX gained 0.8 percent, France's CAC rose 0.3 percent while the pan-European FTSEurofirst 300 index climbed 0.4 percent, to 1,367.00 points.

  • NEW YORK, Dec 22- Oil prices resumed their downward march on Monday, doubling back on the biggest one-day gain in over two years, after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price. After a weekend of comments from several Gulf OPEC members reiterating their intent not to intervene in oil markets, despite oil prices that have...

  • NEW YORK, Dec 22- Equity markets worldwide edged higher on Monday after European energy shares rose, even as oil prices remained volatile. A rebound in European energy shares and greater political stability in Greece boosted European bourses. Stocks in Moscow also gained, with the dollar-traded up almost 7 percent following news that oil firm Rosneft had paid...

  • LONDON/ PARIS, Dec 22- Britain's Serious Fraud Office has charged a British subsidiary of French energy equipment firm Alstom with bribing officials to secure a power contract, making it the second Alstom unit to face UK charges this year. Monday's charges are the latest in a series of international bribery investigations into Alstom, which has suffered a drop...

  • *France's Soitec tumbles after profit warning. PARIS, Dec 22- A rebound in most energy shares drove European equities higher on Monday, while Greece's bourse was also boosted by the country's prime minister offering to bring pro-European independents into the government. Britain's blue-chip FTSE 100 index advanced by 0.6 percent, Germany's DAX gained 0.7...

  • UK's Madoff? Trader vanishes with clients' $200M Monday, 22 Dec 2014 | 9:36 AM ET

    A currency trader has absconded with $203 million in investors’ cash, in an alleged fraud that could prove to be Britain's answer to the Madoff case.

  • LONDON, Dec 22- Oil fell towards $60 a barrel on Monday, reversing gains after Saudi Arabia indicated it could increase its output. Saudi Arabia convinced its fellow OPEC members that it is not in the group's interest to cut oil output however far prices may fall, the kingdom's oil minister Ali al-Naimi said in an interview with the Middle East Economic Survey.

  • UPDATE 7-Oil falls towards $61 on supply outlook Monday, 22 Dec 2014 | 7:58 AM ET

    LONDON, Dec 22- Oil fell towards $61 a barrel on Monday, reversing gains after Saudi Arabia indicated it could increase its output. Saudi Arabia is prepared to increase output and gain market share by meeting the demands of any new customers, Monday's edition of the Saudi-owned al-Hayat newspaper quoted the kingdom's oil minister Ali al-Naimi as saying.

  • LONDON, Dec 22- When Phil Clarke was sacked as Tesco's CEO, senior executives hoped his 0700 strategy meetings would go with him. They did- new boss Dave Lewis starts his at 0630.. Parachuted in from Unilever in September, Lewis soon faced the task of making the shock announcement that a 250 million pound hole had been found in Tesco's profits, in an accounting scandal...

  • LONDON, Dec 22- Britain will widen the scope of laws which make the manipulation of market benchmarks a criminal offence to include seven more rates covering the currency, gold, oil and silver markets by April 1, the government said on Monday. The finance ministry said seven benchmarks including the WM/Reuters 4 p.m. London fix-- the dominant global benchmark in the...

  • Spain: Princess Cristina to be tried for fraud Monday, 22 Dec 2014 | 4:46 AM ET

    MADRID— Spain's Princess Cristina was indicted on tax fraud charges Monday— a severe setback to efforts by her brother King Felipe VI to rid the royalty of image problems after his scandal-plagued father abdicated six months ago. Castro's decision sets the stage for a royal trial late next year, just as Spain is expected to see heavy campaigning in national...

  • FOREX-Euro edges up, still shaky on ECB and Greece Monday, 22 Dec 2014 | 4:08 AM ET

    LONDON, Dec 22- The euro bounced back from two-year lows against a slightly weaker dollar on Monday, with Greece's presidential election and a batch of U.S. data on Tuesday the chief risks to a calmer holiday mood. The outlook into 2015 for the euro looks weak, with Luc Coene the latest European Central Bank policymaker to point the way towards outright buying of...

  • *Copper price heading for double-digit pct drop in 2014. SYDNEY, Dec 22- Copper prices traded slightly higher on Monday, reversing losses earlier in the day, with traders saying contracts looked cheap following recent price drops. Copper is down some 13 percent so far this year on worries the market is heading into a supply surplus after several years of deficit,...

  • Belarus enjoys bonanza amid Russia-West tensions Monday, 22 Dec 2014 | 2:27 AM ET

    MINSK, Belarus— As relations between Russia and the West have sunk to their lowest point since the Cold War, there's one country that's reaping rewards— Belarus, whose authoritarian leader was once dubbed " Europe's last dictator" by the United States and the European Union. Food exports to Russia have been a major hard currency-earner for cash-strapped Belarus,...

  • Asian markets gain as oil rebounds Sunday, 21 Dec 2014 | 11:12 PM ET

    South Korea's Kospi added 0.4 percent to 1,936.79 and Hong Kong's Hang Seng rose 1.4 percent to 23,428.73. Stocks in Southeast Asia and Taiwan also rose. ANALYST'S TAKE: "Our markets have opened firmer after the strong rebound in energy prices," said Tony Kwok, a sales trader in Sydney for CMC Markets.

  • LONDON, Dec 22- Senior workers in London's financial services sector are expecting on average a 21 percent rise in their bonus payouts for this year, despite pressure from regulators and lawmakers for payouts to be reined in, a survey showed on Monday. The European Union has sought to deter such behaviour with a new law that limits a bonus to no more than 100 percent...

  • AP PHOTOS: A look at 2014 in the business world Saturday, 20 Dec 2014 | 3:03 PM ET

    LONDON— No one said the recovery from the global financial crisis would be easy and 2014 provided that in spades. And in Europe, economic stagnation appears to be the new status quo despite the welcome news that Greece's savage six-year recession is over. Elsewhere, the legacy of the global financial crisis remains, notably in Europe, where the European Central...