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  • *Higher fund flows coming from eastern Europe to Dubai. Swiss-based but Abu Dhabi- owned Falcon would be open to deals covering its core target markets of the Gulf, Eastern Europe, Africa and South East Asia, according to Erich Pfister, who took up the role in January. The last major acquisition by Falcon, which manages around 16 billion francs of assets, was the...

  • *Europe equities fall after regional PMI data. NEW YORK, March 4- Stock prices around the world fell on Wednesday on profit-taking, while the euro dropped to an 11-1/ 2 year low ahead of a European Central Bank meeting where policymakers are expected to offer details on their bond purchase stimulus plan. Brent crude was just below $60 a barrel after Saudi Arabia's...

  • LONDON, March 4- The softly-spoken head of the Risk division at Reed Elsevier does not wish to thank the U.S. online fraudsters who have helped drive his unit's growth, but his investors may not be so bashful. Mark Kelsey's Risk and Business Information division has been one of the stand out performers for Europe's largest media company in recent years, with its...

  • Federal Reserve took a swipe on Tuesday at unlawful and unethical behavior at banks, saying it raises questions over whether the values embedded on Wall Street have improved enough in recent years. While other Fed officials and bank regulators have complained about the ethics and culture on Wall Street, the stern comments from the country's top financial...

  • LONDON, March 4- Brent crude oil slipped towards $60 a barrel on Wednesday as a stronger dollar pressured commodity prices, while Saudi Arabia's oil minister said he expected the market to balance itself and for prices to recover. Oil Minister Ali al-Naimi said he expected supply and demand would soon match and oil prices, which hit a near six-year low of $45 in...

  • LONDON, March 4- Brent crude oil steadied above $60 a barrel on Wednesday after Saudi Arabia's oil minister said he expected the oil market to balance itself. Oil Minister Ali al-Naimi said he hoped and expected the oil market to balance and prices, which hit a nearly six-year low around $45 in January, to stabilize, adding to signs OPEC's largest exporter is...

  • *Venerable British firm under threat from nimbler rivals. LONDON, March 4- Shoppers usually blame dowdy clothes and tired stores for the painful decline of Britain's former retail powerhouse Marks& Spencer. "There's a killing to be made if they can serve older women better," said Patsy Perry, a lecturer in fashion marketing at the University of Manchester.

  • LUXEMBOURG— A European Union high court has handed Britain and its London financial hub a victory by ruling against a European Central Bank decision that would have forced financial institutions clearing trades in euros to be based in the eurozone. Britain is part of the EU but doesn't use the euro. London is Europe's predominant financial center and the ECB's...

  • LONDON— The British government has agreed to sell its stake in Eurostar, the high-speed rail service that connects London with Paris and Brussels through a tunnel under the English Channel, for 757 million pounds, a move that's prompted accusations that it is selling the family silver. The Treasury said Wednesday that a group of international investors,...

  • *Asia shares fall despite India rate cut, China data. LONDON, March 4- Global equities pulled back from recent record highs on Wednesday, with investors turning cautious after underwhelming euro zone PMI data and ahead of central bank meetings. The MSCI All Country World equity index slipped 0.2 percent, with Asian shares lower overall despite data showing a...

  • FOREX-Euro slides ahead of ECB; dollar at 11-year high Wednesday, 4 Mar 2015 | 4:35 AM ET

    LONDON, March 4- The euro crashed through support levels that have held for more than a month on Wednesday, hitting a six-week low under pressure from the imminent launch of outright quantitative easing by the European Central Bank. "Its really the dollar side of the equation that is at stake at the moment," said Daragh Maher, a strategist with HSBC in London.

  • Eurozone showing signs of economic momentum Wednesday, 4 Mar 2015 | 4:16 AM ET

    LONDON— The 19- country eurozone's economy is kicking into a higher gear thanks to falling oil prices and the lower euro, but the recovery is still far short of that experienced by the U.S. And that's likely to be welcomed by policymakers at the European Central Bank as they head off for their latest meeting Thursday in Nicosia, the capital of the Mediterranean...

  • *Fighting escalates in Libya, militants seize oilfield. LONDON, March 4- Brent dipped on Wednesday but held above $60 a barrel, supported by a rise in Saudi crude prices and air strikes and militant raids on oil facilities in Libya. In a move widely seen as showing Saudi Arabia's confidence in a demand recovery, the OPEC kingpin raised official selling prices for its...

  • LONDON, March 4- The European Union's second-highest court has ruled the European Central Bank was wrong to insist that euro clearing houses should be based in the single currency area, a policy Britain had challenged. Britain, which is a member of the EU but not the euro zone, had challenged the ECB's policy, saying it went against the EU's single market.

  • Euro zone business growth at 7-month high in Feb -PMI Wednesday, 4 Mar 2015 | 4:00 AM ET

    *PMIs point to Q1 GDP growth of 0.3 pct- Markit. Survey compiler Markit said the surveys pointed to first quarter GDP growth of 0.3 percent, the same as at the tail-end of 2014, as business activity expanded in all of the bloc's four biggest economies for the first time since last April. The weaker euro should help boost exports and, perhaps most importantly, the...

  • DIARY-Top Economic Events to March 17 Wednesday, 4 Mar 2015 | 12:01 AM ET

    LAKE FOREST, United States- Federal Reserve Bank of Chicago President Charles Evans speaks on current economic conditions and monetary policy before the Lake Forest-Lake Bluff Rotary Club 2015 Economic Breakfast- 1400 GMT. KANSAS CITY, United States- Federal Reserve Bank of Kansas City President Esther George speaks on the U.S. economy at an event hosted by...

  • Sony plans to launch virtual-reality headset in 2016 Tuesday, 3 Mar 2015 | 8:29 PM ET

    SAN FRANCISCO— Sony plans on putting its virtual-reality headset on consumers' noggins next year. Sony Corp. originally unveiled a prototype of the headset at last year's gathering of video game developers. The headset works in tandem with Sony's PlayStation 4 console and camera by covering users' vision and simulating virtual worlds on screen.

  • NEW YORK, March 3- Oil rebounded on Tuesday as Israeli Prime Minister Benjamin Netanyahu warned the Obama administration against accepting a weak nuclear deal with Iran, while rival Libyan forces targeted oil terminals in the African nation. Higher prices imposed by Saudi Arabia on its crude buyers in Asia, the United States and northwest Europe was another...

  • *Netanyahu hits out against Iran in U.S. Congress, fueling rise. NEW YORK, March 3- Oil rebounded on Tuesday as Israeli Prime Minister Benjamin Netanyahu warned the Obama administration against accepting a weak nuclear deal with Iran, and rival Libyan forces targeted oil terminals in the African nation. Gains accelerated just before noon in New York when...

  • *Brent crude ends above $61 on conflict in Libya. NEW YORK, March 3- U.S. stocks followed other equities markets lower on Tuesday, with major indexes pulling back from record highs as soft auto sales raised doubts about the U.S. economy, while the dollar fell from an 11- year peak versus a basket of currencies. "The air gets a little thin up at new highs and you need a driver...