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  • HELSINKI, Nov 27- Failure to make economic reforms and shield weaker members could damage the "essential cohesion" of the euro zone, the head of the European Central Bank said on Thursday, in a blunt warning to political leaders. "Lack of structural reforms raises the spectre of permanent economic divergence between members," Draghi told an audience at the...

  • *Performance division sees strong demand from US, China. AMG sales may jump by more than a quarter to more than 40,000 vehicles this year alone, especially due to demand from the United States and China, division chief Tobias Moers said on Thursday. The AMG unit's high-performance cars, including Mercedes's top-of-the-line GT model unveiled in September, cast a...

  • BRUSSELS, Nov 27- The European Commission will tell France, Italy and Belgium on Friday that their 2015 budgets risk breaking EU rules, but it but will defer decisions on any action until early March. This gives the three more time to adjust policy before the EU executive must decide whether to fine France for missing consolidation targets or put Italy and Belgium...

  • *Oil prices near 4- year low as OPEC output cut hopes fade. LONDON, Nov 27- Fading hopes of a meaningful cut in production at Thursday's OPEC meeting sent oil prices tumbling to a four-year low as Thanksgiving in the United States saw world stocks touch the brakes on their recent rally. OPEC sources have told Reuters action is unlikely and Brent oil dropped by more...

  • *Oil drops to 50- month lows as OPEC meeting starts. *OPEC expected to leave output unchanged. LONDON, Nov 27- Brent crude oil fell $2 to a 50- month low under $76 a barrel on Thursday as oil producers in OPEC looked set to keep output unchanged despite a huge oversupply in world markets.

  • German unemployment steady at 6.3 percent Thursday, 27 Nov 2014 | 4:43 AM ET

    BERLIN— Germany's unemployment rate was steady at 6.3 percent in November as the labor market in Europe's largest economy remained strong. The Federal Statistical Office said Thursday that 2.72 million people were out of work in Germany in November, about 16,000 fewer than in October and not enough to change the unemployment rate. Adjusted for seasonal...

  • Venezuela says shale oil is a disaster Thursday, 27 Nov 2014 | 4:34 AM ET

    VIENNA, Nov 27- Shale oil is a disaster for climate change, Venezuelan Foreign Minister Rafael Ramirez said on Thursday as OPEC prepares to decide on oil output policy. "The U.S. is producing in a very, very bad manner. Oil ministers from the Organization of the Petroleum Exporting Countries meet on Thursday in Vienna, with Venezuela trying to rally support for...

  • *Energy shares under pressure ahead of OPEC meeting. PARIS, Nov 27- European shares inched up in early trade on Thursday, adding to their recent sharp rally that has been fuelled by expectations of further stimulus measures from the European Central Bank. "The results are better-than-expected, thanks to sales from its liquor and spirits division, as well as better...

  • OPEC unity tested by low prices, oil glut Thursday, 27 Nov 2014 | 4:17 AM ET

    VIENNA— OPEC oil ministers meeting in Vienna on Thursday are in a bind. OPEC powerhouse Saudi Arabia can weather such lower prices because its coffers are well-padded and its production costs are relatively low. But poorer OPEC members like Venezuela and Nigeria need levels close to $100 or above to fund national budgets.

  • Qatar oil minister says sees OPEC harmony, no crisis Thursday, 27 Nov 2014 | 4:14 AM ET

    VIENNA, Nov 27- Qatar Oil Minister Mohammed al-Sada said on Thursday that he sees harmony among OPEC members and does not see a crisis.

  • General strike shuts down services across Greece Thursday, 27 Nov 2014 | 2:54 AM ET

    ATHENS, Greece— A 24- hour general strike in Greece shut down services across the country, forcing flight cancelations and school closures and leaving state hospitals functioning with emergency staff, while thousands of protesters marched in central Athens. Labor unions called the strike to protest continued austerity measures as Greece struggles to...

  • MOSCOW, Nov 27- The Russian rouble fell against the dollar and euro, and stock indexes were lower early on Thursday, following oil prices which have weakened before a key OPEC meeting in Vienna. Global oil benchmark Brent was down 1.5 percent at around $76.6 a barrel, as expectations mount that OPEC will not agree to cut production to shore up sliding oil prices at...

  • Russian rouble falls on opening Thursday, 27 Nov 2014 | 2:09 AM ET

    MOSCOW, Nov 27- The Russian rouble fell against the dollar and euro early on Thursday, following oil prices which have weakened before a key OPEC meeting in Vienna.

  • Oil price fall starts to weigh on banks Thursday, 27 Nov 2014 | 1:36 AM ET
    Oil drills are pictured in the Kern River oil field in Bakersfield, California

    Banks including Barclays and Wells Fargo are facing potentially heavy losses on an $850m loan made to two oil and gas companies, the FT reports.

  • Private firms filling Latin America's security gap Thursday, 27 Nov 2014 | 12:01 AM ET

    Men claiming to be with the notorious Gulf Cartel had stopped a convoy transporting chemicals through a lawless region of northeastern Mexico. The phone chatter and chirping two-way radios sounded like a police dispatch, but this was the emergency response room of International Private Security, a Mexico- based company that helps clients like PepsiCo, Audi...

  • NYMEX-Oil falls for 4th day on fading hopes for OPEC cuts Wednesday, 26 Nov 2014 | 7:36 PM ET

    TOKYO, Nov 27- U.S. crude futures extended declines for a fourth session on Thursday to stay near a four-year low below $76 a barrel as OPEC increased signals that it would hold off making any major production cuts this week. *OPEC Gulf oil producers will not propose an output cut at its meeting on Thursday, reducing the likelihood of joint action by OPEC to prop up...

  • DIARY - Top Economic Events to Dec 9 Wednesday, 26 Nov 2014 | 7:01 PM ET

    MELBOURNE- Australian Treasury Secretary Martin Parkinson speaks in Melbourne, Australia- 0130 GMT. FRANKFURT- ECB board member Vitor Constancio participates in a press roundtable on the occasion of the " November 2014 Financial Stability Review" presentation organized by the European Central Bank in Frankfurt, Germany. LIMASSOL, Cyprus- 5th Limassol...

  • Stock indexes edge further into record territory Wednesday, 26 Nov 2014 | 4:12 PM ET

    Semiconductor stocks rose Wednesday after Analog Devices reported strong earnings. Analog Devices rose 6 percent, the most in the Standard& Poor's 500 index. Oil slid to another four-year low ahead of an OPEC meeting in Vienna that is not expected to result in production cuts.

  • *Iran says some OPEC members want to battle for market share. VIENNA, Nov 26- OPEC Gulf oil producers will not propose an output cut on Thursday, reducing the likelihood of joint action by OPEC to prop up prices that have sunk by a third since June and raising the prospect of a global oil price war. "We are very confident that OPEC will have a unified position."

  • *OPEC very capable of taking unified position- Saudi Oil Minister. New York, Nov 26- Oil prices fell on Wednesday after OPEC increased signals that it would hold off making any major production cuts this week. OPEC Gulf oil producers have reached a consensus not to cut oil output when OPEC meets Thursday, a Gulf OPEC delegate told Reuters.