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  • NEW YORK, June 3- The U.S. dollar hit its lowest against the euro in over two weeks on Wednesday after the European Central Bank kept monetary policy steady despite recent market volatility and Bund yields extended their rise. The ECB sees no reason to adjust its monetary policy stance in response to a recent rise in bond yields in Europe, ECB President Mario Draghi...

  • *Felix Capital Partners will focus on Europe. LONDON, June 3- Frederic Court, one of Europe's standout early-stage investors in recent years, has formed a venture capital firm to invest in digital fashion brands and enabling technologies. His new firm, London- based Felix Capital Partners, will focus on first- and second-round investments in online retail,...

  • NEW YORK, June 3- U.S. benchmark Treasury debt yields rose to three-week highs on Wednesday, bolstered by a solid U.S. private sector employment report for May and gains in German bond yields after the European Central Bank raised its inflation forecast for this year. "We're tracking the Bund market right now," said Justin Lederer, Treasury strategist, at Cantor...

  • Encouraging job market news sends US stocks higher Wednesday, 3 Jun 2015 | 10:27 AM ET

    NEW YORK— U.S. stocks rose in early trading on Wednesday as investors welcomed some encouraging news about the job market. EUROPE RISING: France's CAC 40 was up 0.8 percent while Germany's DAX rose 1.1 percent. Britain's FTSE 100 climbed 0.6 percent.

  • UPDATE 6-Oil drops in volatile session as OPEC gathers Wednesday, 3 Jun 2015 | 10:22 AM ET

    *OPEC expected to keep output target unchanged on Friday. LONDON, June 3- Oil prices fell in volatile trade on Wednesday as investors adjusted positions ahead of a key meeting of OPEC oil producers. "There is consensus among Gulf OPEC countries, and others, to keep the ceiling unchanged," the OPEC delegate told Reuters in Vienna.

  • *Citi failed to win $270 mln court order vs Mercuria. LONDON, June 3- U.S. bank Citigroup Inc said it currently has no metals financing clients in China after suspected fraud led to a web of lawsuits, and was reviewing the future of the business. Last month, Citigroup failed in a bid to win an order from a London court that would force trade house Mercuria to pay about $270...

  • *OPEC expected to keep output target unchanged on Friday. LONDON, June 3- Oil prices fell in volatile trade on Wednesday as the dollar rose and investors adjusted positions ahead of a key meeting of OPEC oil producers. "There is consensus among Gulf OPEC countries, and others, to keep the ceiling unchanged," the OPEC delegate told Reuters in Vienna.

  • FRANKFURT, Germany— European Central Bank head Mario Draghi said the bank's 1.1 trillion euro stimulus program is supporting the eurozone's modest recovery as the money works its way through the financial system to the real world of businesses and consumers. Draghi was cautiously upbeat about the prospects of the 19- country currency union at a news...

  • Today, it is Warsaw's Soho Factory, a hip new space of exhibitions, offices and restaurants. Taking inspiration from SoHo and the Meatpacking District in New York City, entrepreneur Rafal Bauer saw "soul" in a pile of dilapidated brick buildings sinking into the ground in Warsaw's gritty Praga neighborhood and transformed them into a creative space whose...

  • LONDON, June 3- A stronger dollar weighed on most base metal prices on Wednesday ahead of an options expiry, while nickel slid after inventories rose to a fresh record. Three-month LME nickel fell 1.2 percent to $12,900 a tonne by 1033 GMT after rising a half percent in the previous session. "Some of the warehouse arrivals in nickel appear to be linked to financing...

  • This week's letter calling for a global carbon pricing by Europe's Statoil, Total, BP, Shell as well as ENI and BG showed first signs of such an agreement, albeit without the support of U.S. peers Exxon Mobil and Chevron. "While we have had discussions with European majors, and we wish them well, we don't believe we need to join this scheme," said Exxon Mobil...

  • *PMIs point to 0.4 pct GDP growth in 3 months to May- Markit. Sterling fell sharply after Wednesday's Markit/ CIPS services purchasing managers' index fell back to 56.5 last month, still comfortably in growth territory but down from 59.5 in April and at its lowest level since December. Along with a weak manufacturing figure and a bounce in construction, combined...

  • *May final composite PMI 53.6. LONDON, June 3- Euro zone business growth lost a little momentum last month despite companies cutting prices, but unemployment has fallen across the bloc with firms taking on staff to meet existing demand. The deceleration in growth will be disappointing for the European Central Bank, which is expected to leave policy unchanged...

  • *Citi failed to win $270 mln court order vs Mercuria. LONDON, June 3- U.S. bank Citigroup Inc said it has withdrawn from metals financing in China after suspected fraud that led to a web of lawsuits. Last month, Citigroup failed in a bid to win an order from a London court that would force trade house Mercuria to pay about $270 million in potential losses for metals...

  • BP CEO: Shale gas 'very painful' for much of world Wednesday, 3 Jun 2015 | 6:26 AM ET
    BP workers inspect a section of oil transit pipeline at the Prudhoe Bay oil fields in Alaska.

    The shale gas revolution will be "very painful for many parts of the world," with the U.S. potentially the new swing producer, the head of BP told CNBC.

  • UPDATE 3-Oil prices drop on dollar, oversupply Wednesday, 3 Jun 2015 | 4:27 AM ET

    *OPEC expected to keep output target unchanged on Friday. LONDON, June 3- Oil prices fell on Wednesday as the dollar strengthened and as oversupply weighed on markets ahead of a key meeting of OPEC oil producers. "There is consensus among Gulf OPEC countries, and others, to keep the ceiling unchanged," the OPEC delegate told Reuters in Vienna.

  • LONDON— Uncertainty over Greece is weighing on the eurozone economy, a closely-watched survey found Wednesday, as the clock was ticking on the country's efforts to avoid bankruptcy. With Greek Prime Minister Alexis Tsipras headed to Brussels for talks with European officials over how to end the standoff over the country's bailout, financial information...

  • LONDON, June 3- Euro zone business growth lost a little momentum last month despite companies cutting prices again, but they also took on workers at the fastest rate in four years, a survey showed on Wednesday. Markit's final composite Purchasing Managers' Index, seen as a good guide to growth, stood at 53.6 in May, above an earlier flash reading of 53.4 but below...

  • Encouraging job market news sends US stocks higher Wednesday, 3 Jun 2015 | 12:38 AM ET

    KEEPING SCORE: In Europe, France's CAC 40 was up 1.3 percent at 5,069 while Germany's DAX rose 1.2 percent to 11,456. The FTSE 100 index of leading British shares was 0.7 percent higher at 6,977. Wall Street was set for solid gains at the open with Dow futures and the broader S&P 500 futures up 0.5 percent. On Wednesday, Greece's prime minister, Alexis Tsipras, was...

  • *City growth would help generate 145,000 new jobs in London. A report commissioned by the City of London Corporation, which promotes London as a financial center, said the City generated 45 billion pounds in what it termed economic output in 2014, with that figure expected to grow by 16 billion in the next 10 years. "This report shows how vital the City's success is...