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  • 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...

  • *Brent closes above $61, U.S. crude settles above $56. NEW YORK, Dec 19- Oil closed up as much as 5 percent on Friday, its biggest gain in over two years, as some traders took profits on short positions after prices this week hit their lowest since 2009.. Brent's front-month settled up $2.11, or 3.4 percent, at $61.38 a barrel, after closing twice this week below the...

  • *Bremt closes above $61, U.S. crude settles above $56. Brent ended above $61 a barrel, the second time since Wednesday when it closed above the key psychological level of $60, and continued to rise in post-settlement trade. WTI finished above $56, breaking above the $55 resistance.

  • Cuba debt, often inert, moves on political winds Friday, 19 Dec 2014 | 2:14 PM ET

    NEW YORK, Dec 19- The historic breakthrough in U.S.- Cuba relations closes a Cold War chapter but leaves unresolved issues that investors need to pick through carefully, with Cuba's opaque economics and financial health poorly understood in world markets. Cuba has effectively been shut out of global financial markets for decades. said Thomas Herzfeld, a Miami...

  • Dec 19- AstraZeneca Plc's ovarian cancer drug has been granted an accelerated approval by the U.S. health regulator, a day after the treatment was approved by the European Commission. AstraZeneca expects potential sales of around $2 billion a year from the drug. London- based AstraZeneca's U.S.-listed shares were down about 1 percent at $71.41 in afternoon...

  • *Rouble bounces over 3 percent, oil above $60 a barrel. Wall Street's momentum, hopes that Russia was stabilizing and a recommitment from Japan to its massive stimulus campaign pushed Asian stocks to their best day in 15 months. "We have digested the drop in oil, we have gotten past the Fed, and now we will see what we will do for the rest of the year," said Peter Jankovskis,...

  • West Texas Intermediate crude futures traded above $55 a barrel while benchmark Brent hovered above the psychologically key $60 level, gaining over 2 percent in New York's morning trade. "At least I'm not convinced that with Brent at $60 or WTI above $55, we've seen the bottom yet," said Tariq Zahir, managing member at Tyche Capital Advisors in Laurel Hollow, New...