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  • Federal deficit tops $1 trillion for fourth year Friday, 12 Oct 2012 | 3:06 PM ET

    WASHINGTON-- The federal budget deficit has topped $1 trillion for a fourth straight year. The Treasury Department said Friday that the deficit for the 2012 budget year totaled $1.1 trillion.

  • Shares of JPMorgan Chase and Wells Fargo& Co. both fell after they released their results, even though JPMorgan posted record profits, prompting Canadian financials to follow suit, dropping 0.2 percent. Bank of Nova Scotia was down 0.3 percent at C $53.31, and Toronto-Dominion Bank was 0.2 percent lower at C $80.85.

  • Iraq to buy Czech military planes for $1 billion Friday, 12 Oct 2012 | 10:21 AM ET

    PRAGUE-- Iraq has agreed to buy 28 Czech-made military airplanes in a deal worth $1 billion (775 million), part of a broader effort by Baghdad to rebuild military capabilities destroyed during the U.S.-led invasion of the country, officials said Friday. Iraq only has a few planes and is unable to defend its air space.

  • UPDATE 6-Oil falls to $115 on weaker demand forecast Friday, 12 Oct 2012 | 10:11 AM ET

    LONDON, Oct 12- Oil fell towards $115 a barrel on Friday, as a prediction of a further decline in oil consumption and higher supplies offset concerns about potential output disruptions in the Middle East.

  • Oct 12- Toronto's main stock index looked set to open higher on Friday, taking cues from its largest trading partner, after robust earnings from JPMorgan marked a strong start for the U.S. banks earnings season.

  • *Turkey- Syria tensions, lower N.Sea output support. LONDON, Oct 12- Oil fell towards $115 a barrel on Friday, as a prediction of a further decline in oil consumption and higher supplies offset concerns about potential output disruptions in the Middle East.

  • *Turkey- Syria tensions, lower N.Sea output support. LONDON, Oct 12- Oil fell below $115 a barrel on Friday, as a prediction of a further decline in oil consumption and higher supplies offset concerns about potential output disruptions in the Middle East.

  • Ahead of the Bell: US budget deficit Friday, 12 Oct 2012 | 6:40 AM ET

    WASHINGTON-- The end of the 2012 federal budget year is expected to produce the fourth straight annual deficit above $1 trillion. The Congressional Budget Office has estimated that the deficit totaled $1.1 trillion for the 12 months that ended Sept. 30.

  • *Turkey- Syria tensions, lower N.Sea output support. LONDON, Oct 12- Oil fell below $115 a barrel on Friday, as a prediction of a further decline in oil consumption and higher supplies offset concerns about potential output disruptions in the Middle East.

  • *Pressure on OPEC to produce more easing. *Iraq, North America to increase oil production steeply. LONDON, Oct 12- The world could see a gradual easing of oil prices over the next five years due to sluggish economic growth and rising energy efficiency and as production increases steeply in Iraq and North America, the West's energy watchdog said on Friday.

  • OSLO, Oct 12- Stronger winds and lower consumption will drag down Nordic spot power prices for the weekend, analysts at Point Carbon said on Friday. Saturday delivery was expected to ease to 32.5 euros per MWh and to 32.4 euros on Sunday, compared with 36.6 euros on Friday.

  • *Pressure on OPEC to produce more easing. *Iraq, North America to increase oil production steeply. LONDON, Oct 12- The world could see a gradual easing of oil prices over the next five years due to sluggish economic growth and rising energy efficiency and as production increases steeply in Iraq and North America, the West's energy watchdog said on Friday.

  • *IEA cuts demand growth outlook due to sluggish economy* Pressure on OPEC to produce more easing* Iraq, North America to increase oil production steeply By Dmitry Zhdannikov and Christopher Johnson.

  • Vice President Joe Biden and his Republican rival, Paul Ryan, faced off on Thursday in their only debate before the Nov. 6 presidential election. Here is some fact-checking of claims made by the candidates. RYAN: ECONOMIC GROWTH IS SLOWER NOW.

  • No foreign army bases in Egypt, army spokesman Friday, 12 Oct 2012 | 1:38 AM ET

    CAIRO, Oct 12- Egypt has no foreign military bases on its soil and has no plans to downsize its armed forces, said the military spokesman, rejecting media reports claiming so.

  • Turkey - Factors to Watch on Oct 12 Friday, 12 Oct 2012 | 1:15 AM ET

    The yield on Turkey's two-year benchmark bond. Turkey's main share index closed up 1.64 percent at 69,577 points, its highest level since May 2011, outperforming a 0.45 percent rise in the emerging markets index. ï¿ ½.

  • Med Crude-Urals strongest in Baltic since end Aug Friday, 12 Oct 2012 | 12:45 AM ET

    LONDON, Oct 12- Russian Urals crude extended its rally on Friday, trading in the Baltic at a discount of less than $1 a barrel to dated Brent for the first time since late August, as refiners scrambled to pick up remaining scarce volumes. In the Platts window, BP continued to bid for an Oct 22-26 cargo in the Baltic at dated Brent minus $1 but found no sellers, traders said.

  • PRESS DIGEST - British business - Oct 12 Thursday, 11 Oct 2012 | 9:40 PM ET

    EADS boss Tom Enders has been accused of being "naive" for misunderstanding the nature of Berlin's political structure and failing to approach Germany directly over the group's proposed merger with BAE Systems.

  • MOSCOW, Oct 11- Iraq is considering replacing ExxonMobil with Russian companies at the supergiant West Qurna-1 oilfield, after the U.S. major angered Baghdad by venturing into Kurdistan, according to a media report citing industry sources.

  • Czech Republic - Factors To Watch on Oct 11 Thursday, 11 Oct 2012 | 2:52 AM ET

    PRAGUE, Oct 11- Here are news stories, press reports and events to watch which may affect Czech financial markets on Thursday. PRAGUE- Czech Prime Minister Petr Necas to meet his Iraq counterpart Nuri al-Maliki. PRAGUE- Czech Foreign Minister Karel Schwarzenberg to meet his Iraq counterpart Hoshyar Zebari.