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  • *Saudi Arabia, OPEC have relinquished balancing role- SocGen. LONDON, Nov 28- Brent crude oil steadied below $73 a barrel on Friday after hitting a fresh four-year low in the wake of OPEC's decision not to cut output, a move investors said would leave oil markets heavily oversupplied. Saudi Arabia blocked calls on Thursday from poorer members of the Organization of...

  • FRANKFURT, Nov 28- German European Central Bank policymaker Jens Weidmann said on Friday it was illusory to think central banks could increase a country's growth potential for a sustained period of time. The comments from Weidmann, chief of Germany's Bundesbank and arch-hawk on the ECB's policymaking Governing Council, came after the ECB's vice president...

  • *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...

  • Swiss to vote on massive gold-buying plan Friday, 28 Nov 2014 | 5:46 AM ET

    GENEVA— In Switzerland, a campaign is on to protect the country's wealth by investing in gold— a lot of gold. If the initiative wins the backing of a majority of voters this Sunday, the Swiss National Bank would also be prohibited from spending any of the treasure, which would have to be locked away in vaults entirely on Swiss soil. Jacques Mayor, a Geneva accountant,...

  • Germany backs Blackberry's purchase of Secusmart Friday, 28 Nov 2014 | 5:05 AM ET

    BERLIN, Nov 28- Germany has approved Canadian smartphone maker Blackberry's planned acquisition of Secusmart, the encryption technology of which is used to protect the mobile devices of top politicians including Chancellor Angela Merkel. The issue was particularly sensitive in Germany, given that the deal was announced after revelations that U.S....

  • *Saudi Arabia, OPEC have relinquished balancing role- SocGen. LONDON, Nov 28- Brent crude fell to a fresh four-year low under $72 a barrel on Friday after OPEC decided not to cut output, a move investors said would leave oil markets heavily oversupplied. Saudi Arabia blocked calls from poorer members of the Organization of the Petroleum Exporting Countries for...

  • EU won't sanction France, Italy on budget yet Friday, 28 Nov 2014 | 4:02 AM ET

    BRUSSELS— The European Union head office is opting not to sanction two of its biggest economies just yet for missing public finance targets and instead will give France and Italy until the spring to come up with better plans to cut their debts and deficits. France could have faced a hefty fine while Italy would have been forced into further budget changes and...

  • France paying for past mistakes: Economy Minister Friday, 28 Nov 2014 | 2:02 AM ET

    French Economy Minister Emmanuel Macron has placed the blame for the sustained weakness in his country's economy with previous administrations.

  • *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...

  • Australia out of step with new climate momentum Friday, 28 Nov 2014 | 1:24 AM ET

    CANBERRA, Australia— Australian Prime Minister Tony Abbott, who rose to power in large part by opposing a tax on greenhouse gas emissions, is finding his country isolated like never before on climate change as the U.S., China and other nations signal new momentum for action. For a nation of just 23 million, Australia has played a significant role in past talks, but...

  • 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.

  • TOKYO, Nov 28- Oil prices, oil-related shares and oil-linked currencies all tumbled in Asia on Friday, in the wake of OPEC's decision to refrain from cutting output despite a huge oversupply. U.S. markets were closed on Thursday for the Thanksgiving holiday, leaving the spotlight on the Organization of Petroleum Exporting Countries' meeting in Vienna where...

  • TOKYO, Nov 28- Oil prices, oil-related shares and oil-linked currencies all tumbled in Asia on Friday, in the wake of OPEC's decision to refrain from cutting output despite a huge oversupply. U.S. markets were closed on Thursday for the Thanksgiving holiday, leaving the spotlight on the Organization of Petroleum Exporting Countries' meeting in Vienna where...

  • CARACAS, Nov 27- Venezuela will keep campaigning until oil prices rebound to $100 per barrel, president Nicolas Maduro said on Thursday night after OPEC refused to cut output as the cash-strapped South American country had aggressively pushed for. The decision is a blow to Venezuela's flailing economy, widely believed to be in recession, and also highlights...

  • Argentina charges HSBC with aiding tax evasion Thursday, 27 Nov 2014 | 4:06 PM ET

    BUENOS AIRES, Argentina— Argentina's tax agency charged HSBC bank Thursday with helping more than 4,000 Argentines evade taxes by placing their money in secret Swiss accounts. AFIP said it got its information from France, where HSBC was placed under formal investigation last week for possibly aiding tax evasion. AFIP charged the local branch of HSBC and its...

  • MOSCOW, Nov 27- Russia's most powerful oil official Igor Sechin said in an interview with an Austrian newspaper that oil prices could fall below $60 by mid-way through next year. Sechin, chief executive of Rosneft, Russia's largest oil producer, also said U.S. oil production would fall after 2025 and that an oil market council should be created to monitor prices,...

  • *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...

  • MOSCOW, Nov 27- Russia's most powerful oil official Igor Sechin said that oil prices could fall below $60 by mid-way through next year, speaking the same day OPEC met in Vienna and left its output targets unchanged. On Thursday, OPEC decided against production cuts to halt a slide in global oil prices, sending benchmark Brent crude plunging to a fresh four-year low...

  • CARACAS, Nov 27- Venezuela will maintain contact with non- OPEC countries to seek a "fair" global oil price, Foreign Minister Rafael Ramirez said on Thursday, despite OPEC's refusal to cut output as the cash-strapped South American country had aggressively pushed for. Saudi Arabia blocked calls from poorer members of the OPEC oil exporter group for production...

  • *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...