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  • Portuguese police detain ex-premier in fraud case Saturday, 22 Nov 2014 | 4:11 AM ET

    LISBON, Portugal— Former Portuguese Prime Minister Jose Socrates has been detained by police as part of an investigation into corruption, money-laundering and tax fraud, Portugal's Attorney-General's office said Saturday. Socrates, who was Portugal's prime minister from 2005 to 2011, was taken into custody late Friday with three others, according to a...

  • *Shares soar on China rate cut, Draghi stimulus hopes. *Euro tumbles on Draghi; Brent above $80 a barrel. NEW YORK, Nov 21- World stock markets and oil prices rallied Friday, fueled by hopes for global growth following a surprise interest rate cut by China and as the European Central Bank indicated it would step up asset purchases to boost the euro zone economy.

  • *Agriculure helped make the Netherlands rich. AMSTERDAM, Nov 21- Agriculture has helped make the Netherlands rich, but experts warn that the density of farms and the increasing number of animals in one of the most intensive agricultural sectors in the world make it vulnerable to disesase. "When there is a disease in the Netherlands, which is the country in the world...

  • BRUSSELS, Nov 21- Europe's proposed free trade agreement with the United States would collapse if European leaders bowed to pressure to remove investment protection from any deal, the chairman of EU trade ministers said on Friday. The United States and the European Union are trying to seal a free trade deal which could bring economic gains of around $100...

  • LONDON, Nov 21- Investment chiefs at the world's biggest asset managers this week unanimously forecast a stronger dollar in 2015, but they were far more cautious than many big banks on how far it would rise against the euro. Six months into a long-awaited rally for the dollar, Goldman Sachs and Deutsche Bank are among those predicting that this is just the start of...

  • *Shares soar on China rate cut, Draghi stimulus hopes. NEW YORK, Nov 21- World stock markets and oil prices rallied Friday, fueled by hopes for global growth following a surprise rate cut by China and as the European Central Bank indicated it would step up its asset purchases to boost the euro zone economy. "To the extent that you dueling positive monetary policy...

  • *Draghi says recovery unlikely in coming months. FRANKFURT, Nov 21- European Central Bank President Mario Draghi threw the door wide open on Friday for more drastic measures to prevent the euro zone from sliding into deflation, promising to use whatever means necessary as China also acted to boost its sagging economic growth. "We will do what we must to raise...

  • PARIS, Nov 21- European stocks rallied on Friday, with a benchmark regional index hitting a two-month high, propelled by dovish comments from European Central Bank President Mario Draghi and a surprise interest rate cut from China's central bank. Regional mining shares, highly sensitive to China's economic growth, featured among the top gainers, with Rio Tinto...

  • *Market beginning to expect OPEC cut, analysts say. LONDON, Nov 21- Brent crude oil rose above $80 a barrel on Friday after China cut interest rates and on speculation that OPEC could agree next week to reduce oil production. The rate cut added to a positive mood among oil traders, many of whom expected an agreement by the Organization of the Petroleum Exporting...

  • Airlines eye tech partners to tap customer data Friday, 21 Nov 2014 | 8:46 AM ET

    "Revenue from the ticket is barely covering costs these days," Uwe Klenovsky, Commercial Director of Thomas Cook Airlines, said at the CAPA World Aviation Summit in Antwerp. Airlines have been reluctant to publish all fares on all distribution channels, often keeping the lowest prices on their own websites, rather than eroding margins further by paying their GDS...

  • *Shares soars as China cuts rates, Draghi talks bond buying. *Euro tumbles on Draghi, Aussie rises on China. LONDON, Nov 21- World shares surged on Friday as China surprised markets with its first interest rate cut in more than two years and the European Central Bank's Mario Draghi threw the door wide open to full scale money printing.

  • *Market beginning to expect OPEC cut, analysts say. LONDON, Nov 21- Brent crude oil rose more than $2 to above $81 a barrel on Friday after China cut interest rates and on speculation that OPEC could agree next week to reduce oil production. The rate cut added to a positive mood among oil traders, many of whom expected an agreement by the Organization of the Petroleum...

  • BRUSSELS, Nov 21- The dispute between Britain and Spain over Gibraltar threatens to hold up European Union plans to merge national air corridors, diplomats say. But a wrangle over the sovereignty of the isthmus that connects the British territory of Gibraltar to Spain could delay a deal even if all other issues are agreed upon, EU diplomats said.

  • French investigate HSBC over possible tax dodging Friday, 21 Nov 2014 | 7:38 AM ET

    PARIS— HSBC bank was placed under formal investigation in France over services it offered to clients required to pay taxes in France, just days after the private banking branch was charged in Belgium with organized fiscal fraud. Switzerland- based HSBC Private Bank said Friday that French investigators demanded a 50 million euro bond. HSBC said the...

  • *Libya and Ecuador also call for lower OPEC output. *Market beginning to expect OPEC cut, analysts say. LONDON, Nov 21- Brent crude oil rose to near $81 a barrel on Friday after China cut interest rates and on speculation that OPEC could agree next week to reduce oil production.

  • European shares extend rally after China rate cut Friday, 21 Nov 2014 | 6:48 AM ET

    PARIS, Nov 21- European stocks extended an early rally on Friday morning, led by mining shares after China's central bank cut its benchmark interest rate for the first time in more than two years in an attempt to lift its cooling economy. European mining shares, strongly affected by China's economic growth, featured among the top gainers, with Rio Tinto up 3.9...

  • *Novak, Rosneft's Sechin to fly to Vienna before OPEC meeting. Before OPEC meets next week, Russia has already spoken to members Venezuela and Saudi Arabia about the need to support the oil market, and Moscow expects to send a high-ranking delegation to Vienna before the meeting to press the message on prices. A price of at least $100 a barrel is needed to balance the...

  • Greek budget forecasts strong growth next year Friday, 21 Nov 2014 | 6:48 AM ET

    ATHENS, Greece— Greece's government on Friday submitted its 2015 budget to Parliament, sticking with high-growth and low-deficit predictions that rescue lenders say are too rosy. The budget projects Greece's primary surplus— state income without taking into account interest payments on outstanding debt— will be 3 percent of gross domestic product.

  • *Libya and Ecuador also call for lower OPEC output. *Market beginning to expect OPEC cut, analysts say. LONDON, Nov 21- Brent crude oil rose above $80 a barrel on Friday after China cut interest rates and on speculation OPEC could agree next week to reduce oil production.

  • *Draghi says stronger recovery unlikely in coming months. *Short-term inflation expectations seen "excessively low". FRANKFURT, Nov 21- European Central Bank President Mario Draghi threw the door wide open on Friday for more dramatic action to rescue the euro zone economy, saying "excessively low" inflation had to be raised quickly by whatever means necessary.