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  • DIARY - Top economic Events to Dec 11 Friday, 28 Nov 2014 | 7:02 PM ET

    BERLIN- ECB Executive Board member Sabine Lautenschlaeger gives a keynote speech at the Wirtschaftsgipfel 2014 "Wirtschaft neu denken- die Kraft der Innovation" organized by Suddeutsche Zeitung in Berlin- 1030 GMT. WASHINGTON- Federal Reserve Vice Chairman Stanley Fischer speaks at the Wall Street Journal's CEO Council annual meeting- 1315 GMT.

  • NEW YORK, Nov 28- U.S. crude tumbled 10 percent in its biggest one-day drop in more than five years on Friday, and benchmark Brent broke below $70 a barrel, as OPEC's decision not to cut output sent oil traders and analysts scurrying to find a new trading floor. I think people are either going to drive it down further or just let the market collapse, "said Tariq Zahir,...

  • The slide came the day after oil cartel OPEC decided not to cut output in a meeting in Vienna. "We do not know if OPEC has ulterior motives to let oil prices drift lower and pinch the global sector, or if reaching a consensus on cuts was just too challenging," wrote Wells Fargo Securities in a Friday client note. "We'll wait to see the trend next week when there's full...

  • *U.S. crude weakest since May 2010, may test 5- year low below $60. Traders said if WTI takes out the May 2010 low of $64.24, it could technically be headed for a test below $60, toward the low of $58.32 set on July 2009. "There's a notion that yesterday's selling was overdone, but not everyone is fully back to work yet after Thanksgiving," said John Kilduff, partner at energy...

  • *OPEC decision not to cut output weighs on Nigeria unit. LAGOS, Nov 28- Nigeria's naira fell 2.5 percent on Friday, despite central bank intervention, and it briefly touched a record low on concerns OPEC's decision not to cut oil output would put further pressure on Nigeria's shaky finances. The central bank has struggled to keep the naira within its preferred band...

  • Canada and Mexico won a WTO ruling three years ago that said the U.S. rules illegally discriminated against imported meat. The United States lost a subsequent appeal and was told to bring its laws into line, but in October this year the WTO said it had not done so, paving the way for Canada and Mexico to demand the right to impose trade sanctions.

  • LONDON, Nov 28- The main bet that oil speculators are making for the first few months of next year is that a barrel of Brent crude will fall to $65, according to options market data. Speculators increased these positions before the OPEC meeting in Vienna this week, as expectations rose that it would not cut production- which turned out to be correct.

  • Germany signs no-spy deal with BlackBerry Friday, 28 Nov 2014 | 8:54 AM ET

    BERLIN— Germany has approved BlackBerry's purchase of encryption firm Secusmart after signing a "no-spy" agreement with the Canadian smartphone maker. German media report that BlackBerry has agreed to provide Germany with access to software source codes. Germany reacted with anger last year to reports, based on documents leaked by Edward Snowden, that the...

  • Police arrest 118 globally for flight ticket fraud Friday, 28 Nov 2014 | 8:38 AM ET

    THE HAGUE, Netherlands— Police around the world have arrested 118 suspects in a global investigation into online fraud that targets the travel industry, a crime said to cost airlines $1 billion a year. European Union police coordination agency Europol said the arrests were made during two days of coordinated action this week at more than 80 airports in 45...

  • Global air ticket fraud sweep nets 118 arrests Friday, 28 Nov 2014 | 8:05 AM ET

    AMSTERDAM, Nov 28- More than 100 people were arrested worldwide this week after an investigation spanning 45 countries into the use of stolen credit cards to buy plane tickets, European police agency Europol said on Friday. The probe, run from Europol's headquarters in The Hague as well as from Singapore and Bogota, Colombia, was aimed at curbing a type of crime...

  • Plunging crude prices hammer energy companies Friday, 28 Nov 2014 | 7:36 AM ET

    NEW YORK— A decision by OPEC this week to maintain current levels of oil production is hammering major energy companies in the U.S. and abroad. OPEC announced Thursday that it would not cut production in hopes of hurting producers in the U.S. and elsewhere that have been flooding the market with crude and natural gas. Shares of large energy companies including...

  • *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,...

  • UK's Cameron to curb benefits for immigrants Friday, 28 Nov 2014 | 5:45 AM ET

    LONDON— Migrants from Europe will have to leave Britain if they don't get a job within six months, and must work for four years before receiving some benefits, Prime Minister David Cameron announced Friday, in a carefully balanced speech designed to defuse domestic criticism of his immigration policies while averting a showdown with the European Union.

  • 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.