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  • NEW YORK, May 27- Oil prices fell by up to 3 percent for a second straight day on Wednesday as a resurgent dollar weighed on the market ahead of U.S. inventory data. Other factors held little sway, including France's warning to Iran that it was ready to block a final deal on Tehran's nuclear program unless Iran provided full access to inspectors.

  • May 27- A nun-turned-developer was ordered to pay nearly $1 million for lavish spending and for hiring an ex-con known as Frankie the Fish while building a Mississippi casino, a court ruled on Wednesday. Sandra Manno, a one-time mayor of Marlton, New Jersey, who had spearheaded a vote to legalize gambling in the state, was ordered by a Delaware judge to pay $970,123...

  • NEW YORK, May 27- European stocks lead major markets higher on Wednesday and the euro edged up on signs, later dismissed, that Greece and its creditors were drafting an agreement that would provide Athens much-needed debt relief. Greece's government said it is starting to draft an agreement with creditors including the European Union and the International...

  • *U.S. expected to press Europe to reach deal on Greece. DRESDEN, Germany, May 27- G7 ministers and central bank heads convened on Wednesday to discuss how to revive global growth and China's increasing clout, while keeping a close eye on the protracted talks to avoid a Greek default. The United States is likely to use the talks, running through to Friday, to press Europe...

  • French startups beg expats - 'Come home, work for us' Wednesday, 27 May 2015 | 12:57 PM ET

    PARIS, May 27- French startup companies desperate for talent with international experience launched a campaign on Wednesday to persuade expats to return, pooling their resources to offer free repatriation help and advice as part of the package. Despite France's reputation as a high tax, low growth, bureaucratic country, the claim to be a centre for dynamic...

  • *Second day of Libor trial in London. LONDON, May 27- Tom Hayes, a former trader accused of conspiring to rig benchmark interest rates, abandoned an attempt to enlist his step brother into the alleged scam after deciding it was wrong to ask for his help, a London court heard on Wednesday. On the second day of the world's first jury trial of an individual charged with...

  • UPDATE 2-U.S. urges EU, IMF to be flexible with Greece Wednesday, 27 May 2015 | 12:27 PM ET

    Treasury Secretary Jack Lew issued the warning on Wednesday in a stopover in London on his way to a meeting of Group of Seven finance ministers in Dresden, Germany. Finance ministers from the United States, Japan, Germany, France, Italy, Britain and Canada are meeting in Dresden on Thursday and Friday, and although Greece is not formally on the agenda, it will be...

  • The American Petroleum Institute, an industry group, will issue at 4:30 p.m. EDT estimates on crude and oil products in storage ahead of Thursday's official data from the U.S. government. "If you're looking for a catalyst for price recovery from this data, you may not really get it, and that's why the dollar's been exerting it's strength over oil," said John Kilduff, a...

  • LONDON, May 27- When Chris Morton was setting up a fashion e-commerce company five years ago, he spent a lot of time listening to online music service Spotify. While Spotify was an inspiration for Morton, other London- based online retail entrepreneurs, like Farfetch founder and CEO José Neves, are using tricks learned from social media to create fashion...

  • NEW YORK, May 27- The euro stabilized in volatile trading and stocks rose on Wednesday after reports that Greece and its creditors, including the European Union and IMF, had reached an agreement that will provide debt relief to the struggling nation. The agreement between Greece and the Brussels Group, comprised of major creditors that include the EU and...

  • Greece says deal close, Schaeuble quashes optimism Wednesday, 27 May 2015 | 10:21 AM ET

    Alexis Tsipras spoke shortly before Greek negotiators were due to meet in Brussels with representatives of the bailout creditors— whose cash has kept Greece from bankruptcy for the past five years. But he warned stumbling blocks remain, as Greece is dealing with three different creditor institutions— the International Monetary Fund, European Commission...

  • LONDON, May 27- Yields on Greek bonds fell and European shares extended their gains on Wednesday on the prospect of an accord between Greece and its creditors. A Greek government official told Reuters that the Brussels group of Athens' official creditors had started procedures to draw up a staff-level agreement. Greek 10- year government bond yields fell 42 bps...

  • FOREX-Dollar hits 8-year high vs yen, euro slips Wednesday, 27 May 2015 | 10:18 AM ET

    *Greece debt concerns compound euro's weakness. "We broke out of a technical pattern because of the general dollar strength," Marc Chandler, chief global currency strategist at Brown Brothers Harriman& Co. in New York, said of the Japanese currency. Japanese Economics Minister Akira Amari said earlier Wednesday while recent movements reflected the dollar's...

  • LONDON, May 27- Tom Hayes, a former trader accused of conspiring to rig benchmark interest rates, abandoned an attempt to coax his step brother into aiding his alleged scam after deciding it was wrong to ask for his help, a London court heard on Wednesday. On the second day of the world's first jury trial of an individual charged with benchmark rate-rigging offences,...

  • LONDON, May 27- The United States urged European negotiators not to miscalculate as they try to negotiate a debt deal with Greece's cash-strapped government, because the cost of a Greek exit from the euro zone was impossible to predict exactly. Treasury Secretary Jack Lew issued the warning on Wednesday in a stopover in London on his way to a meeting of Group of...

  • *U.S. expected to press Europe to reach deal on Greece. DRESDEN, Germany, May 27- Little more than a gentlemen's club in recent years, G7 finance ministers and central bankers have their work cut out this week to revive stuttering global growth and defuse tensions over China's growing economic clout. The United States is likely to use the talks, beginning late on...

  • LONDON, May 27- Financial market trading revolved around the U.S. dollar on Wednesday with European shares rallying on the back of a weak euro and U.S. shares and commodities struggling. At midsession in Europe, the dollar was up 0.5 percent against the yen at 123.68 yen, its highest since June 2007. The fact that bets against the yen have been so much less crowded than...

  • Michael Kors shares take dive on sales weakness, outlook Wednesday, 27 May 2015 | 7:12 AM ET

    LONDON— Michael Kors' stock plunged more than 10 percent in premarket trading after the seller of handbags, clothing and accessories issued a weak outlook and said sales are being pressured by foreign currency fluctuations. For the three months ended March 28, Michael Kors Holdings Ltd. earned $182.6 million, or 90 cents per share. The average estimate of 16...

  • Goldman tops 2015 City of London bank bonus charts Wednesday, 27 May 2015 | 6:42 AM ET

    LONDON, May 27- Bankers at Goldman Sachs received the highest bonuses in London's banking industry this year but bonuses paid out by the top 10 banks were down overall compared to last year, a survey published on Wednesday showed. Goldman Sachs bankers received an average bonus of 194,000 pounds, some 14 percent more than their peers at second-placed Morgan...

  • "The dollar had a strong rebound on the back of slightly better than expected U.S. durable goods and consumer confidence data, but that rebound has been short-lived," said Angus Campbell, senior analyst at FXpro in London. Greece and its European creditors have played down fears that Athens would default on a payment to the International Monetary Fund next week.