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  • DUBLIN, Jan 28- Bank of England Governor Mark Carney urged the euro zone to take the controversial step of turning its currency area into a fiscal union in order to escape its slow-growth debt trap- a call likely to be rebuffed by Germany. Such calls have previously met with resistance from Germany and some other euro zone countries who fear their taxpayers could...

  • *U.S. crude hits session low at $44.08, lowest since April 2009. NEW YORK, Jan 28- Oil slumped on Wednesday, with U.S. crude prices at near six-year lows, after the government reported record-high inventories in the United States that raised anxieties about the global oil glut that had pressured the market since last summer. It sank to as low as $44.08 before the close,...

  • NEW YORK, Jan 28- Oil prices fell on Wednesday after the U.S. government reported record-high crude inventories, adding to anxieties about the global glut that has pressured the market since last summer. Benchmark Brent crude oil was down 84 cents at $48.76 a barrel by 1:07 p.m. ET, after making a session low at $48.65. U.S. crude dropped $1.39 to $44.84, after...

  • LONDON, Jan 28- British prosecutors are investigating whether subsidiaries of Alstom, the French power and transport company at the centre of an international corruption inquiry, committed offences in Hungary, a London court heard on Wednesday. The Serious Fraud Office has already charged two UK- based Alstom subsidiaries and four former employees with...

  • GLOBAL MARKETS-Dollar, U.S. stocks inch higher before Fed Wednesday, 28 Jan 2015 | 1:04 PM ET

    NEW YORK, Jan 28- The dollar edged up against the euro on Wednesday as investor focus turned toward the Federal Reserve, which delivers a post-meeting statement later in the day, while U.S. stocks climbed after strong earnings from Apple. Worries that Greece's new government is heading for clashes with the rest of the euro zone over its debts weighed on European...

  • *Scotland blocks new permits for fracking. LONDON, Jan 28- Scotland on Wednesday blocked the granting of permits for fracking and a local English council delayed a decision on two projects, casting doubt on British Prime Minister David Cameron's shale gas ambitions. Scotland, estimated to have around 80 trillion cubic metres of shale gas resources- enough to...

  • But the build the EIA cited was about a third lower than the nearly 13 million barrels reported for the week to Jan. 23 by the American Petroleum Institute on Tuesday. Benchmark Brent crude oil was down 61 cents at $48.99 a barrel by 12:15 p.m. ET, off its session low of $48.65. "This inventory is bad, but not so bad" as expectations set by the API data, said Dominick...

  • NEW YORK, Jan 28- The dollar edged up and world stock indexes edged lower on Wednesday as investor focus turned toward the Federal Reserve, which will deliver a post-meeting statement later in the day. Worries that Greece's new government is heading for clashes with the rest of the euro zone over its debts weighed on European shares, while shares of Apple, which...

  • ATHENS, Jan 28- Greek bank stocks fell by more than 22 percent on Wednesday as the Athens market suffered a third day of turmoil following the election of a government led by leftist anti-austerity Prime Minister Alexis Tsipras. Fears that Greek banks, facing increased deposit outflows, could be shut out of European Central Bank liquidity assistance if their...

  • FOREX-Dollar firms in cautious trade before Fed statement Wednesday, 28 Jan 2015 | 11:27 AM ET

    NEW YORK, Jan 28- The U.S. dollar made a tepid advance against the euro and the Swiss franc on Wednesday but fell against the yen before a monetary policy statement from the Federal Reserve. The Fed is expected to release a statement at 2 p.m. EST following a two-day meeting. "This is not so much about the Fed, but whether the U.S. economy can live with a stronger dollar,"...

  • LONDON, Jan 28- Oil slipped to $49 a barrel on Wednesday after U.S. crude stocks soared to the highest on record last week, and as a firmer dollar weighed on prices. "Refined product demand continues to be the sole source of strength for the market, but it is not enough to overcome the tidal wave of crude oil supplies for now," said John Kilduff at Again Capital LLC in New...

  • *Barclays cuts 2015 forecast to $44 a barrel from $72 for Brent. Jan 28- Barclays Plc and Goldman Sachs Group Inc issued even more bearish forecasts for oil prices on Wednesday, predicting no significant recovery in the first half of 2015.. Barclays slashed its 2015 Brent crude oil price forecast to $44 a barrel from $72, while Goldman said it expected prices for...

  • Airbus CEO promises shake-up after new A400M delays Wednesday, 28 Jan 2015 | 9:13 AM ET

    PARIS, Jan 28- The head of Airbus Group has promised management and organizational changes at the European aerospace firm after new delays and quality problems with its A400M military transport plane. A copy of Tuesday evening's remarks was provided by Airbus, which declined further comment. The project has undergone several transformations, switching from...

  • ATHENS, Jan 28- Greek bank stocks fell by more than 22 percent on Wednesday, dragging the Athens market into a third day of turmoil following the election of a government led by leftist anti-austerity Prime Minister Alexis Tsipras. Fears that Greek banks, facing increased deposit outflows, could be shut out of European Central Bank liquidity assistance if their...

  • LONDON/ STOCKHOLM Jan 28- IKEA Group, the world's biggest furniture retailer, expects a rise in European revenues to continue this financial year, with its focus on low prices helping it to cope in a struggling economy. The privately-held Swedish company, which makes almost 70 percent of sales in Europe, said on Wednesday demand in previously crisis-hit...

  • LONDON, Jan 28- The Bank of England will keep interest rates at a record low until at least October as inflation remains stubbornly below target, according to economists in a Reuters poll who have grown more confident about their views. The firming of the consensus view for the fourth quarter of 2015 comes just days after the European Central Bank announced a...

  • LONDON, Jan 28- A local English government council has delayed a decision on whether shale gas firm Cuadrilla can progress with two fracking projects in a test case showing the challenges facing the industry in Britain. The vote over what could be Britain's first shale-producing wells has been closely watched by the industry and environmental campaigners as...

  • *Gazprom cannot afford to lose Ukraine. MOSCOW/ KIEV, Jan 28- Ukraine has a stronger hand to play at talks with Russia on gas supplies thanks to the fall in oil prices, which has dragged down gas prices, and after showing it can live on less. Although a milder winter and a scramble for other sources has shown Ukraine can survive with less gas from Russia, it still needs it to...

  • LONDON, Jan 28- Stocks and the dollar retrenched on Wednesday amid speculation the Federal Reserve will take a dovish turn in its post-meeting statement later as signs emerge that the greenback's strength is hurting company profits. Worries that Greece's new government is heading for clashes with the rest of the euro zone over its debts saw European shares...

  • UK council defers controversial shale gas permits Wednesday, 28 Jan 2015 | 7:21 AM ET

    LONDON, Jan 28- A local English government council has voted to delay a decision on whether shale gas firm Cuadrilla can progress with two fracking projects, in a case that is being closely watched by the industry and environmental campaigners. Cuadrilla's projects near Blackpool in north west England are expected to become Britain's first shale gas...