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  • BUSINESS-NEWS-SCHEDULE AT 2000 GMT / 3:00 p.m. ET Thursday, 27 Nov 2014 | 3:00 PM ET

    Oil prices plunge after OPEC decides against output cut. CALGARY- Brent crude oil plunged as much as $6.50 a barrel, and U.S. crude dropped by nearly as much, posting their steepest one-day falls since 2011, after OPEC decided against cutting output despite a huge oversupply in world markets. BOGOTA- Hundreds of thousands of people displaced from their land...

  • *Nigerian firms issued $5 billion hard currency bonds since 2007. Companies in Africa's largest economy have rushed in recent years to take advantage of rock-bottom global borrowing costs and investors' hunger for yield, selling some $5 billion in hard currency bonds since 2007, according to Thomson Reuters data. Of this more than $2 billion was raised this...

  • ABUJA, Nov 27- Nigeria's finance minister said on Thursday that a significant portion of the billions of dollars drained from the oil savings account over the past two years was distributed to powerful governors instead of being saved for a rainy day. Nigeria, Africa's biggest oil producer, is grappling with financial difficulties owing to a 30 percent fall in...

  • *Coke to buy SABMiller some non-alcoholic brands. *SABMiller says merger to save soft drink expansion spending. JOHANNESBURG, Nov 27- SABMiller and Coca-Cola will combine the operations which mix, bottle and distribute their soft drinks in Africa, creating a group with sales of $2.9 billion and ambitions to corner a fast-growing market.

  • *Oil price slump squeezes Nigeria, Angola. The highest profile victim so far has been Africa's top producer, Nigeria, which was forced to devalue its naira currency by 8 percent this week after the central bank admitted dwindling reserves were making it hard to defend it. In dollar terms, the devaluation knocked $40 billion off the value of Nigeria's economy-...

  • JOHANNESBURG, Nov 27- Some investors in failed South African lender African Bank Investments have received offers for its preference shares, the company said on Thursday, a possible sign of interest in the bank ahead of a planned relisting. African Bank has 13.5 million preference shares listed in Johannesburg, according to Reuters data.

  • LONDON/ JOHANNESBURG, Nov 27- SABMiller Plc, The Coca-Cola Company and Gutsche Family Investments are combining their soft drinks bottling operations in South and East Africa to create a group with $2.9 billion in revenue across 12 fast-growing markets. The new company, which will be headquartered in South Africa, will be 57 percent owned by the brewer, 31.7...

  • 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...

  • ABUJA, Nov 26- Nigeria's National Assembly said on Wednesday oil major Shell should pay $3.96 billion for a 2011 spill at its offshore Bonga oilfield in the latest assessment of damage to the environment. The parliament finally reached a decision based on the report of the National Oil Spill Detection and Response Agency, which previously recommended a fine of...

  • Lack of coal may bring Ukraine to its knees this winter Wednesday, 26 Nov 2014 | 8:48 AM ET

    LONDON/ BRUSSELS, Nov 26- A shortage of coal, rather than gas, is likely to plunge Ukraine into freezing darkness this winter as conflict in its east seals off supplies that used to make it self sufficient. "We have no energy reserves now, everything works on maximum and every technical problem can lead to sharp power cuts," said Andrey Favorov, managing director of...

  • LAGOS, Nov 26- Nigeria's naira touched a record low against the dollar on Wednesday, a day after the central bank devalued the currency, complicating efforts to contain inflation before presidential elections early next year. The central bank devalued the naira by 8 percent and raised interest rates sharply on Tuesday, trying to stem losses to its foreign...

  • LONDON, Nov 26- The impact of sub- $80 oil prices rippled across energy-exporting emerging markets on Wednesday, with investors betting other countries will have to follow Nigeria in devaluing their currencies. Brent crude remained firmly below $80 per barrel and around a third lower from June levels after Saudi Arabia signaled it was unlikely to push for a...

  • TRIPOLI, Nov 26- Libya's rival government wants to send its oil minister to the OPEC summit in Vienna this week and will refuse to comply with any production decisions if it is denied access, the minister said. Libya has two cabinets and parliaments vying for legitimacy since a rival group took control of Tripoli in August, installing its own prime minister and...

  • *Platinum, palladium traders sued by jewelry maker. NEW YORK, Nov 25- Goldman Sachs Group Inc, Germany's BASF SE and two other big platinum and palladium dealers have been sued in the United States in what the plaintiff's law firm called the first nationwide class action over alleged price-fixing of the metals. In a complaint filed on Tuesday in the U.S. District...

  • TRIPOLI, Nov 26- Libya's rival government wants to send its oil minister to the OPEC summit in Vienna this week and will refuse to comply with any production decisions if it is denied access, the minister said. Libya has two cabinets and parliaments vying for legitimacy since a rival group took control of Tripoli in August, installing its own prime minister and...

  • Canadian pleads guilty in NY rhino horns case Tuesday, 25 Nov 2014 | 5:31 PM ET

    Xiao Ju Guan, also known as Tony Guan, entered the plea to a count of attempted smuggling in federal court in Manhattan. Guan, who remains incarcerated, admitted that he tried in March to smuggle two black rhinoceros horns from New York to British Columbia, where he intended to sell them at a store. He said he had smuggled more than $400,000 of rhino horns and...

  • *Falling oil prices have undermined Nigeria's reserves. ABUJA, Nov 25- Nigeria's central bank devalued the naira by 8 percent and raised interest rates sharply on Tuesday, as it sought to stem losses to its foreign reserves from defending the currency against weaker oil prices. The last time it devalued was in November 2011, when it lowered the band from 145- 150...

  • ABUJA, Nov 25- Nigeria's central bank devalued the naira and raised interest rates by 100 basis points on Tuesday, as it sought to stem losses to its foreign reserves from defending the currency hit by weaker oil prices. The bank moved the target band of the currency to 160- 176 naira to the U.S. dollar, compared with 150- 160 naira previously, owing to prolonged naira...

  • JOHANNESBURG, Nov 25- South Africa's power utility Eskom said on Tuesday it needs a substantial injection of funds to ease a cash crunch and to avoid another credit downgrade as it struggles to keep the lights on in Africa's most advanced economy. Eskom supplies virtually all power to South Africa. The government said last month it would inject 20 billion rand of...

  • *Deal gives Steinhoff exposure to African clothing market. JOHANNESBURG, Nov 25- South Africa's Steinhoff International will buy clothing retailer Pepkor in a $5.7 billion deal that gives the budget furniture firm exposure to Africa's fast-growing apparel market and strengthens its business in eastern Europe. The 62.8 billion rand cash and share deal will...