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  • Russia faces 'full-blown' economic crisis: Kudrin Monday, 22 Dec 2014 | 8:20 AM ET
    People gather near a currency exchange office in Moscow, December 17, 2014.

    Russia faces a “full-blown economic crisis” next year that will trigger defaults, a respected ex-finance minister has warned. The FT reports.

  • EU inspection critical of Frankfurt airport security Monday, 22 Dec 2014 | 7:01 AM ET

    BERLIN— The German government says a European Union inspection found security shortcomings at Frankfurt airport, the country's busiest, and that measures have been taken to address them. Interior Ministry spokesman Johannes Dimroth said Monday that the routine inspection took place in early November and found "significant shortcomings."

  • Airbus delivers first A350 jet, at long last Monday, 22 Dec 2014 | 5:55 AM ET

    PARIS— Airbus has at last delivered its first A350 jet, handing over the wide-body plane to Qatar Airways after years of delays and a multibillion-dollar redesign. The European planemaker hopes the A350 XWB will help it catch up in a long-haul market dominated by rival Boeing's 777 and 787. Airbus revamped the original A350 design to make it more...

  • DUBAI, Dec 22- Saudi Arabia is prepared to increase its oil output and claim a bigger market share to meet the demands of any new customers, Monday's edition of the Saudi-owned al-Hayat newspaper quoted the kingdom's oil minister as saying. The remark was one of the strongest signals yet that the world's top oil exporter has no intention of cutting output in the...

  • NKorean cinema: Kidnappings and evil Americans Monday, 22 Dec 2014 | 1:31 AM ET

    SEOUL, South Korea— North Korea hates the currently scrapped Hollywood film that revolves around the assassination of its beloved leader, but the country has had a long love affair with cinema— of its own particular styling. In the six decades since North Korea began to cultivate its own film industry, a South Korean director and his movie star wife have been...

  • ABU DHABI, Dec 21- Saudi Arabia said on Sunday it would not cut output to prop up oil markets even if non- OPEC nations did so, in one of the toughest signals yet that the world's top petroleum exporter plans to ride out the market's biggest slump in years. "If they want to cut production they are welcome: We are not going to cut, certainly Saudi Arabia is not going to cut."

  • *Forty pct of Israelis can't make ends meet- official data. JERUSALEM, Dec 21- Israel's high cost of living is set to dominate a March 17 election that could shake up Prime Minister Benjamin Netanyahu's coalition, with voter anger symbolized by an overpriced dessert. We have a moment to change the direction Israel goes, "said Naor Narkis, a 25- year-old former...

  • At a meeting in November, OPEC kept its target output of 30 million barrels per day unchanged, leaving the market to balance itself without the group's intervention. That stance was seen as a shift from a longstanding policy in which OPEC powerhouse Saudi Arabia acts as a swing supplier. Speaking in Abu Dhabi, the capital of the United Arab Emirates, he said: "The talk...

  • AP Interview: Coelho says Sony hack threatens all Saturday, 20 Dec 2014 | 12:35 AM ET

    GENEVA— Brazilian author Paulo Coelho says the Sony hack threatens us all if society doesn't enforce important values: our individual and collective freedom of expression and an unwavering refusal to negotiate with anonymous terrorists. The best-selling author said in an interview Friday with The Associated Press that he was prepared to make himself an...

  • Risk modelers look to clarify cyber risk costs Friday, 19 Dec 2014 | 4:58 PM ET

    NEW YORK, Dec 19- Even as the Sony Corp cyber attack laid bare the kinds of vulnerabilities that typically drive companies to buy insurance policies, the lack of a risk model for insurers means such protection is not always easy to get. While high-profile attacks at retailers such as Target Corp and Home Depot Inc this year have spooked consumers, the devastating...

  • AP Interview: Coelho says Sony hack threatens all Friday, 19 Dec 2014 | 3:56 PM ET

    GENEVA— Brazilian author Paulo Coelho says the Sony hack threatens us all if society doesn't enforce important values: our individual and collective freedom of expression and an unwavering refusal to negotiate with anonymous terrorists. The best-selling author said in an interview Friday with The Associated Press that he was prepared to make himself an...

  • German Amazon strikes to last until Christmas Eve Friday, 19 Dec 2014 | 3:22 PM ET

    BERLIN— A German labor union says striking workers at four Amazon.com distribution centers in Germany will remain off the job until Christmas Eve. Companies in Germany normally shut down for the holiday at that time and reopen on Dec. 27, or the next working day. The walkouts at four of Amazon's distribution centers in Germany are part of an effort by workers to...

  • Cuba debt, often inert, moves on political winds Friday, 19 Dec 2014 | 2:14 PM ET

    NEW YORK, Dec 19- The historic breakthrough in U.S.- Cuba relations closes a Cold War chapter but leaves unresolved issues that investors need to pick through carefully, with Cuba's opaque economics and financial health poorly understood in world markets. Cuba has effectively been shut out of global financial markets for decades. said Thomas Herzfeld, a Miami...

  • Global oil impact: Who's hurting, happy, hopeful Friday, 19 Dec 2014 | 1:12 PM ET

    Russia's currency has nose-dived, for instance, and investors worry Venezuela could default on its debt. The world's four biggest economies— U.S., China, Japan and that of the European Union— all benefit from lower oil prices. "Economically this is a good thing for the U.S., it's a good thing for Europe, it's a good thing for China and it's a good thing for most consumers,"...

  • Air France-KLM stock drops on profit warning Friday, 19 Dec 2014 | 11:47 AM ET

    PARIS— Air France-KLM shares have plunged more than 8 percent in the wake of the airline's warning that weak demand on several long-haul routes and other factors would wipe hundreds of millions off profits this year. In a statement late Thursday, Air France-KLM said a combination of factors, including weak demand, higher costs from a crippling pilots' strike, and...

  • Security flaws allow global cellular eavesdropping Friday, 19 Dec 2014 | 10:06 AM ET

    The Berlin- based Security Research Lab, which discovered the problem in August, said a skilled person could exploit the flaws to eavesdrop on the phone calls, text messages and data traffic of billions of people. The Washington Post and Germany's Sueddeutsche Zeitung newspaper reported on it Thursday. "The research disclosures made to the GSMA enabled us to...

  • FRANKFURT, Dec 19- European Central Bank officials are considering ways to ensure weak countries that stand to gain most from a fresh round of money printing bear more of the risk and cost. Such a move could help persuade a reluctant Germany to back plans to buy state bonds. But while the idea may help overcome opposition in Germany, which is worried that fresh money...

  • BRUSSELS, Dec 19- European Union leaders warned Moscow they are ready to flex their combined muscle and "stay the course" in a long confrontation with Russia if President Vladimir Putin refuses to pull back from Ukraine. In comments that were part warning to Russia, where falling oil prices and Western trade sanctions have brought financial havoc, and part...

  • GENEVA, Dec 19- Trials of GlaxoSmithKline's experimental Ebola vaccine are likely to move to a second phase in February, later than previously suggested, after a meeting of national regulators said they needed more information. Countries where the trials are planned-- Cameroon, Ghana, Mali, Nigeria and Senegal-- should receive and review the additional...

  • German consumer confidence on the rise Friday, 19 Dec 2014 | 3:53 AM ET

    BERLIN— German consumer confidence is continuing to improve, supported by expectations of increasing economic strength and a greater willingness to make purchases. The GfK research group said Friday its forward-looking consumer climate index rose to 9 points for January from 8.7 points in December. GfK says consumers still have uncertainty over ongoing...