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  • Shell cuts staff numbers in North Sea operations Thursday, 26 Mar 2015 | 8:14 AM ET

    LONDON— Shell U.K. says it will cut at least 250 staff and contractors in the North Sea, amid sharp drops in the price of oil. The oil company said Thursday the cuts are part of a range of initiatives it has been pursuing to manage costs and improve competitive performance. Paul Goodfellow, Shell's upstream vice President for the U.K. and Ireland, says that despite tax...

  • Markit services PMI flash March at 1345 GMT. LONDON, March 26- Copper hit its highest in nearly three months on Thursday after mines closed in the world's top producer Chile due to flooding, the dollar weakened and oil rallied on military strikes in Yemen. Torrential downpours in the north of Chile have forced companies to suspend operations at some major mines,...

  • *Oil rises on fears of Middle East supply disruption. LONDON, March 26- Crude prices rose as much as 6 percent on Thursday after Saudi Arabia and its allies launched air strikes on Yemen, pushing shares lower in Europe, the Middle East and Asia and lifting oil producers' currencies. "Oil is having a nice move after more geopolitical tensions in the Middle East over...

  • *Adidas to allow in-store product customisation. HERZOGENAURACH, Germany, March 26- German sportswear firm Adidas announced plans to revolutionise the way it manufactures goods to speed up production and allow more customisation of goods to help it accelerate sales and profit growth in the next five years. Adidas said it would focus marketing on six big...

  • FOREX-Yen, franc surge on Saudi worries, dollar weakens Thursday, 26 Mar 2015 | 5:20 AM ET

    LONDON, March 26- The dollar sank to a five-week low against the yen on Thursday, hit by the combination of another round of poor U.S. data and a bid for traditional safe havens by investors worried about stock markets and oil supplies out of the Middle East. News that Saudi Arabia and its Gulf Arab allies had launched air strikes against Iran- allied forces in Yemen...

  • PARIS— Passengers with moments to live screamed in terror and the pilot frantically pounded on the locked cockpit door as a 27- year-old German co-pilot deliberately and wordlessly smashed an Airbus carrying 150 people into an Alpine mountainside. "We have no idea of the reason," Marseille Prosecutor Brice Robin said, revealing the chilling conclusions...

  • LONDON, March 26- From the shabby streets of east London, some of the brightest minds in technology and banking are plotting a revolution. Investment in fintech firms in Britain and Ireland swelled to $623 million last year, more than double the $264 million seen in 2013 and representing 42 percent of fintech investment in Europe, according to research by...

  • Correction: Financial Markets story Thursday, 26 Mar 2015 | 12:21 AM ET

    Peter Cardillo works for Rockwell Global Capital, not Avalon Partners. The selling gathered strength in the afternoon, with companies like Avago Technologies and Skyworks Solutions losing the most. Peter Cardillo, chief market economist at Rockwell Global Capital, said the market's fall was driven by big investors selling some of their winnings before the...

  • DIARY- Top Economic Events to April 8 Wednesday, 25 Mar 2015 | 8:01 PM ET

    ROME- European Central Bank president Mario Draghi addresses the Italian parliament's finance and EU policy committees- 1200 GMT. LONDON- Bank of England to publish Financial Policy Committee statement- 0930 GMT. FRANKFURT- Federal Reserve Bank of St. Louis President James Bullard gives OMFIF Public Lecture on the economy and monetary policy- 0835 GMT.

  • BBVA puts rescue plan for India's Sahara in doubt Wednesday, 25 Mar 2015 | 7:51 PM ET

    A rescue plan for India's Sahara was thrown into disarray on Wednesday, when Spanish bank BBVA SA denied offering a credit line to the bank.

  • WASHINGTON— The world's largest oil services company, Schlumberger Ltd., has agreed to a penalty of more than $232 million and one of its subsidiaries will plead guilty to trade sanctions violations, the Justice Department announced Wednesday. The criminal case against Schlumberger Oilfield Holdings Ltd. resolves a yearslong investigation into...

  • SANTIAGO, March 25- The world's number-one copper miner Codelco has suspended all mining operations in the north of Chile due to the state of roads and mine access following heavy rains in the area, the state-run firm told Reuters on Wednesday. Codelco said mining operations at Chuquicamata, Ministro Hales, Radomiro Tomic, Gabriela Mistral, and Salvador had all...

  • LONDON, March 25- Three Bank of England policymakers said on Wednesday they saw little chance of a cut in interest rates in the face of tumbling inflation, distancing themselves from the position of the central bank's chief economist. BoE chief economist Andy Haldane surprised some observers by saying last week that a recent sharp slowdown in inflation meant...

  • LONDON, March 25- Borse Dubai, the biggest investor in the London Stock Exchange is selling its stake in the British exchange, which will raise around 1.5 billion pounds. The Dubai exchange became a major shareholder in Nasdaq in a complex deal in 2007, buying a 28 percent stake in the LSE from the U.S. exchange for 1,414 pence per share. Bank of America Merrill Lynch,...

  • *Gold near $1,200 an ounce as dollar dip lifts oil. NEW YORK, March 25- Wall Street stocks tumbled and the dollar slipped on Wednesday after government data signaled the U.S. economic expansion was slowing, while gains in the euro prompted a pullback in European stock markets. The main U.S. stock indices were off more than 1 percent midway through a session that began...

  • Shadow banking morphs and grows, confounding authority Wednesday, 25 Mar 2015 | 1:31 PM ET

    LONDON, March 25- Authorities are nowhere near to fully understanding "shadow banking" as the $75 trillion sector morphs and grows under the influence of new technology and regulation, a top markets supervisor said on Wednesday. Shadow banking refers to the supply of credit outside traditional banks, such as from private equity investors, money market funds,...

  • LONDON, March 25- Sterling fell against the euro on Wednesday, hitting a one-month low as investors pushed back expectations of interest rate hikes amid growing talk that inflation in Britain will stay low for sometime to come. Annual inflation in Britain dropped to zero in February and investors are factoring in the chance of a first rate hike in mid-2016,...

  • MOSCOW, March 25- The rouble hit fresh 2015 highs early on Wednesday as Russian exporters sold foreign currencies to pay monthly taxes, before falling back sharply after these taxes had been paid. Forex Club analyst Alena Afanaseva said in a note that the behavior of household depositors may have been a factor behind the rouble's recent strength, with Russians...

  • BRUSSELS/ ATHENS, March 25- Greece failed in a bid on Wednesday to secure a quick cash payment from the euro zone rescue fund to help stave off potential bankruptcy next month, raising pressure on Athens to deliver a convincing reform program within days. Athens had appealed for the European Financial Stability Facility to return 1.2 billion euros it said it had...

  • *China strategic reserves close to capacity- Sinopec exec. Brent crude oil was up 34 cents at $55.45 a barrel by 1453 GMT, but that was well off an earlier high of $56.25. U.S. light crude oil was up 8 cents at $47.59 per barrel, off an earlier high of $48.37.