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  • According to industry and government sources, and letters reviewed by Reuters, Essar has asked the Indian government to free it from paying its share of oil dues to Iran, and instead offset them against a $2.5 billion deal to supply steel plate to a NIOC affiliate. The back-to-back scheme comes to light at a critical stage in talks between Iran and six world powers...

  • *Brent Crude rallies off 4 year low, but set for 15 pct Nov drop. LONDON, Nov 28- Brent crude fell to a fresh four-year low on Friday, sending oil-related shares and currencies lower, after OPEC decided to refrain from cutting output despite a supply glut. Brent crude touched a low of $71.12 a barrel after settling at a four-year closing low on Thursday, when Saudi Arabia...

  • Black Friday problems hit Britain Friday, 28 Nov 2014 | 5:17 AM ET

    LONDON— Americans celebrating Thanksgiving in Britain may have felt right at home as Black Friday shopping chaos caused disruptions. Greater Manchester Police Chief Peter Fahy said he was "disappointed" that stores did not have enough security personnel on duty for the after-hours shopping. Greater Manchester Police said two arrests were made and injuries...

  • Eurozone inflation dips again as energy costs tank Friday, 28 Nov 2014 | 5:01 AM ET

    Preliminary numbers from the European Union's statistics agency, Eurostat, showed the dip in the consumer price inflation rate from the previous month's 0.4 percent was largely due to a 2.5 percent decline in energy costs. November's fall in the headline rate takes inflation further away from the European Central Bank's target of just below 2 percent.

  • LONDON, Nov 28- The dollar strengthened on Friday after OPEC decided not to cut oil output, slamming commodity currencies like the Norwegian crown, which fell to five-year lows against the greenback and euro. That is deep in the European Central Bank's "danger zone" for inflation of below 1 percent and even further away from its target of just under 2 percent.

  • *Most Asian shares skid, but Japan, China buck downtrend. TOKYO, Nov 28- Oil prices seized the Asian spotlight on Friday, as related shares and currencies plunged in the wake of OPEC's decision to refrain from cutting output despite a supply glut. With U.S. markets shut on Thursday for the Thanksgiving holiday, investors focused on the Organization of Petroleum...

  • Energy shares slide after OPEC decision Friday, 28 Nov 2014 | 12:29 AM ET

    HONG KONG— Crude oil and energy shares tumbled Friday as OPEC's decision to keep production steady rippled across the globe. Britain's FTSE 100 fell 0.8 percent to 6,673.24 and Germany's DAX slipped 0.7 percent to 9,905.45. Benchmark U.S. crude oil tumbled 6.8 percent, or $4.99, to $68.70 a barrel in electronic trading on the New York Mercantile Exchange.

  • BUSINESS-NEWS-SCHEDULE AT 2000 GMT / 3:00 p.m. ET Thursday, 27 Nov 2014 | 3:00 PM ET

    Oil prices plunge after OPEC decides against output cut. CALGARY- Brent crude oil plunged as much as $6.50 a barrel, and U.S. crude dropped by nearly as much, posting their steepest one-day falls since 2011, after OPEC decided against cutting output despite a huge oversupply in world markets. BOGOTA- Hundreds of thousands of people displaced from their land...

  • *OPEC leaves oil output unchanged. Nov 27- Brent crude oil plunged as much as $6.50 a barrel on Thursday, and U.S. crude fell by nearly as much, posting the steepest one-day falls since 2011, after OPEC decided against cutting output despite a huge oversupply in world markets. Crude prices have been falling all week as traders and analysts scaled back expectations...

  • *OPEC leaves oil output unchanged. Nov 27- Brent crude oil plunged as much as $6.50 a barrel on Thursday, and U.S. crude dropped by nearly as much, posting their steepest one-day falls since 2011, after OPEC decided against cutting output despite a huge oversupply in world markets. Crude prices have been falling all week as traders and analysts scaled back...

  • LONDON, Nov 27- Copper prices slipped on Thursday, weighed down by a strong dollar, although further falls were capped by support from monetary easing in top consumer China and an upturn in economic sentiment in Europe while a strong dollar capped gains. Three-month copper on the London Metal Exchange, untraded at the close, was bid at $6,555 a tonne, down 0.2...

  • The Apax Middle- market Israel fund will target the country's technology, telecoms, healthcare, services and consumer sectors, the source said on Thursday. London- based Apax has historically had a strong presence in Israel, investing 972 million euros since 2005. Reuters reported in March it was planning to launch the fund, which will be the only...

  • LONDON, Nov 27- Share price falls for energy firms capped gains for top European stocks on Thursday, after OPEC resisted pressure to cut supply in the face of a global slump in the oil price. However, shares were able to edge higher, led up by the German DAX, which extended its recent sharp rally on the back of encouraging data and expectations of further stimulus...

  • *OPEC leaves oil output unchanged. LONDON, Nov 27- Brent crude oil plunged more than $6 a barrel on Thursday, the sharpest one-day fall since 2011, after OPEC decided not to cut production despite a huge oversupply in world markets. Ministers from the Organization of the Petroleum Exporting Countries had been discussing at their meeting in Vienna whether to...

  • *Norwegian crown hit as OPEC keeps oil output unchanged. LONDON, Nov 27- The euro fell against the dollar on Thursday after data showed German inflation sinking to its lowest since February 2010 in November, reinforcing bets the European Central Bank will ease monetary policy more aggressively. Oil-rich Norway's crown slid crown slid 1 percent to 8.6190 per...

  • *Coke to buy SABMiller some non-alcoholic brands. *SABMiller says merger to save soft drink expansion spending. JOHANNESBURG, Nov 27- SABMiller and Coca-Cola will combine the operations which mix, bottle and distribute their soft drinks in Africa, creating a group with sales of $2.9 billion and ambitions to corner a fast-growing market.

  • *Oil price slump squeezes Nigeria, Angola. The highest profile victim so far has been Africa's top producer, Nigeria, which was forced to devalue its naira currency by 8 percent this week after the central bank admitted dwindling reserves were making it hard to defend it. In dollar terms, the devaluation knocked $40 billion off the value of Nigeria's economy-...

  • LONDON, Nov 27- European firms squeezed by low interest rates are having to consider new, riskier ways to manage trillions in corporate cash as they are snubbed by banks awash in new regulation that may also spell the demise of their go-to investment funds. Corporate treasurers have been under pressure since the financial crisis of 2007-09 when the collapse of...

  • BERLIN/ LONDON, Nov 27- Subdued food price inflation in Europe is unlikely to pick up any time soon, adding to the pressure on mainstream grocers as they struggle with changing shopping habits and competition from discounters. Prices paid in Europe for fast-moving consumer goods rose at their slowest pace since 2010 in the third quarter, and fell in Spain, France...

  • COLUMN-How JPMorgan struck gold with copper: Andy Home Thursday, 27 Nov 2014 | 8:59 AM ET

    JPMorgan was "outed" in the media as the controlling hand, which only fuelled further the whirl of speculation, given the same bank was proposing to launch an exchange-traded fund backed by physical copper. As is always the way with such things, JPMorgan declined to confirm or deny its involvement. Now, thanks to documents submitted to the U.S. Senate subcommittee...