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  • "If people think this is just to raise the flag, it's not going to last long," said Christopher Flensborg, Head of Sustainable Products and Product Development for Skandinaviska Enskilda Banken AB, the Swedish bank that's the world's largest underwriter of green bonds. Green bonds used to come exclusively from AAA-rated organizations like the World Bank; the...

  • You're going to see volatility here, "said Daniel Flynn, energy analyst at Chicago's Price Futures Group. Brent for February delivery was up $1.05 at $61.06 a barrel by 2:37 p.m. EST, after hitting a session high of $63.40. The biggest slide in oil prices since the 2008 financial crisis had accelerated after OPEC met in November, when Gulf producers resisted calls...

  • NEW YORK, Dec 17- Crude oil jumped nearly 5 percent on Wednesday as important chart support prices held fast after nearly a week of selling, leading to technical buying that turned the market around abruptly. "I think it was triggered by some short-covering, and once it gets going it feeds upon itself," said John Saucer at Mobius Risk Group in Houston.

  • UK government to sell more shares in Lloyds bank Wednesday, 17 Dec 2014 | 12:13 PM ET

    LONDON— The British government plans to sell a 3 billion pound chunk of its stake in part-nationalized Lloyds Banking Group, which was bailed out by taxpayers during the 2008 financial crisis. It says sales could begin within days and the plan, overseen by Morgan Stanley, will continue for about six months. Lloyds shares closed 1.5 percent lower at 75.35 pence...

  • UPDATE 7-Oil moves above $60 as U.S. crude stockpiles fall Wednesday, 17 Dec 2014 | 11:16 AM ET

    *OPEC, Russia unwilling to cut supply, spurring weakness. LONDON, Dec 17- Brent crude oil moved above $60 a barrel on Wednesday as U.S. data showed falling crude inventories, stemming deep losses brought on by a supply glut and signals from OPEC producers and Russia that they will not cut production. "The decline in overall crude oil inventories was smallish," said John...

  • MOSCOW, Dec 17- The Russian economy stagnated in November, data published on Wednesday showed, making it even more likely that the rouble's rapid collapse so far this month will push it into recession next year. Investment by Russian companies, once a staple of the country's economic performance, fell sharper than expected last month, underlining pressure from...

  • But for base metals the defining "black swan" event of the year was the Qingdao port scandal, news of which first broke at the end of May. The scandal has generated a deluge of lawsuits, the first of which has been publicly playing out in London's High Court as U.S. bank Citigroup and trade house Mercuria lock horns over $270 million worth of affected deals.

  • LONDON, Dec 17- The financial turmoil engulfing Russia is a symptom of a wider world markets quake that has its epicentre in oil's collapse and Western disinflation but is now rippling far and wide across investors' portfolios. Not unlike other bouts of global financial contagion in the late 1990 s and again in 2008-09, the growing interdependency of world...

  • MOSCOW, Dec 17- The Russian central bank said on Wednesday it would take additional financial measures to speed stabilization of the rouble. The bank's new measures are aimed at easing concerns among Russian companies over approaching debt payments, the central bank First Deputy Governor Ksenia Yudayeva said. "At least the Russian authorities have figured...

  • Dec 17- Catlin Group Ltd, operator of the biggest syndicate in the Lloyd's of London insurance market, said it received a takeover approach from XL Group Plc that valued the company at 2.53 billion pounds. Catlin's shares rose as much as 17 percent to a record high of 679.50 pence on the London Stock Exchange on Wednesday. The stock was the top percentage gainer on...

  • *Oil minister Hawrami "hopeful" on final Baghdad deal. LONDON, Dec 17- Iraq's semi-autonomous Kurdistan Regional Government will ramp up oil exports in the coming months, moving it closer to economic self-sufficiency while it works to clinch a final deal with Baghdad on crude sales and revenue sharing. KRG natural resources minister Ashti Hawrami told a...

  • *Gasoline prices post biggest drop since December 2008. The Labor Department said on Wednesday its Consumer Price Index fell 0.3 percent last month, the largest decline since December 2008, after being flat in October. "The further fall in U.S. inflation won't worry the Fed too much," said Paul Dales, a senior U.S. economist at Capital Economics in London.

  • LONDON, Dec 17- The dollar edged up on Wednesday, a day after falling amid a flight to safety as a Russian currency crisis took hold and as speculation grew that the Federal Reserve might take a more cautious tone on monetary policy. The rouble's collapse- 50 percent so far this year- slowed slightly as Russia's finance ministry said it had started selling foreign...

  • UPDATE 5-Oil falls below $59 as OPEC, Russia keep pumping Wednesday, 17 Dec 2014 | 7:55 AM ET

    *OPEC, Russia unwilling to cut supply, spurring weakness. LONDON, Dec 17- Brent crude oil fell below $59 a barrel on Wednesday, near 5-1/ 2- year lows, as major oil producers signalled that they would maintain output despite a supply glut and faltering demand in Russia and Europe. "OPEC is trying to choke U.S. oil producers."

  • AP PHOTOS: A look at 2014 in the business world Wednesday, 17 Dec 2014 | 7:24 AM 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...

  • UPDATE 4-Oil holds below $60 as OPEC, Russia keep pumping Wednesday, 17 Dec 2014 | 6:34 AM ET

    *OPEC, Russia unwilling to cut supply, spurring weakness. LONDON, Dec 17- Brent crude held below $60 a barrel on Wednesday, near 5-1/ 2- year lows, as major oil producers signalled that they would maintain output despite a supply glut and faltering demand in Russia and Europe. "OPEC is trying to choke U.S. oil producers."

  • UK unemployment rate at 6-year low of 6 percent Wednesday, 17 Dec 2014 | 6:04 AM ET

    LONDON— Official figures show Britain's unemployment rate was 6 percent in the three months to October, its lowest level since the 2008 financial crisis. The Office for National Statistics said Wednesday that 1.96 million people were unemployed in the quarter, 63,000 less than the previous quarter. IHS Global Insight analyst Howard Archer was encouraged by...

  • Iraq's Kurdistan says to deepen ties with Iran Wednesday, 17 Dec 2014 | 5:11 AM ET

    LONDON, Dec 17- Iraqi Kurdistan plans to strengthen its relationship with Iran, the prime minister of the semi-autonomous region said on Wednesday in an acknowledgement of the deepening ties between Arbil and Tehran. Prime Minister Nechirvan Barzani said in a statement a new oil deal between Arbil and Baghdad would not impact the Kurdistan Regional...

  • GLOBAL MARKETS-Russia turmoil sparks flight to safety Wednesday, 17 Dec 2014 | 4:40 AM ET

    *Short-lived rouble rebound after Finance Ministry sells FX. *Greece vote also in focus. LONDON, Dec 17- Fears of a full-blown crisis in Russia and oil's continued slide pushed investors to seek safety on Wednesday, buying core bonds yields and selling stocks while the rouble failing to halt its prolonged tumble.

  • UPDATE 3-Oil below $60 as OPEC, Russia keep pumping Wednesday, 17 Dec 2014 | 4:38 AM ET

    *OPEC, Russia unwilling to cut supply, spurring weakness. LONDON, Dec 17- Brent crude oil traded below $60 a barrel on Wednesday, near 5-1/ 2 year lows, as major oil producers signalled that they would maintain output despite a supply glut and faltering demand in Russia and Europe. "OPEC is trying to choke U.S. oil producers."