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  • Nov 26- Bank Leumi Le Israel BM is close to a $400 million settlement with U.S. authorities following a probe into whether it helped Americans evade taxes, Bloomberg News reported, citing a person with knowledge of the matter. Israel's second-largest lender would pay about $270 million to the Justice Department and $130 million to New York's Department of...

  • STRASBOURG, France, Nov 26- The European Commission presented a 300 billion euro plan on Wednesday to boost Europe's stagnant economy, but some doubted private investors would stump up the funds, 15 times the EU contribution, needed to make it work. France and Italy, which have been demanding action to boost economic growth, cautiously welcomed the scheme but some...

  • Boston Market CEO on Thanksgiving, food courts Wednesday, 26 Nov 2014 | 12:37 PM ET

    NEW YORK— Thanksgiving is a big day for Boston Market, which every year sells turkeys, stuffing, mashed potatoes and other dishes for those who don't want to cook. CEO George Michel says he sees potential for 1,500 locations, up from its current 460. One area the company is targeting is food courts, with Michel noting Boston Market can be an attractive alternative to...

  • COLUMN-OPEC's other problem: weak demand - John Kemp Wednesday, 26 Nov 2014 | 10:45 AM ET

    LONDON, Nov 26- By now, everyone is aware of the serious threat rising shale output from the United States poses to OPEC. Net growth of 4.8 million b/d over nine years is slower than OPEC and other forecasters expected a few years ago. OPEC has confronted this problem before in the early 1980 s, when consuming countries took unprecedented steps to reduce demand in...

  • UPDATE 2-Kellogg and Abraaj battle for Egypt's Bisco Misr Wednesday, 26 Nov 2014 | 9:38 AM ET

    CAIRO, Nov 26- The battle for control of Egyptian cake and biscuit maker Bisco Misr intensified on Wednesday as Abraaj Investment Management raised its initial bid to trump a rival offer from Kellogg Co.. UAE- based Abraaj, the Middle East's largest private equity firm, raised its offer to 80.58 Egyptian pounds per share, exactly two percent above a bid of 79 pounds...

  • Abraaj raises Bisco Misr offer to 80.58 EGP per share Wednesday, 26 Nov 2014 | 7:45 AM ET

    CAIRO, Nov 26- UAE's Abraaj Investment Management said on Wednesday it would raise its price for Egyptian cake and biscuit maker Bisco Misr to 80.58 Egyptian pounds per share following a counter bid by Kellogg Co.. Abraaj's initial offer of 73 pounds per share earlier this month was topped earlier on Wednesday by Kellogg's offer of 79 pounds.

  • 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...

  • VIENNA, Nov 26- OPEC leader Saudi Arabia signaled on Wednesday it was unlikely to push for a major change in oil output at the producer group's meeting this week, a day after Russia refused to cooperate in any production cut. Iranian Oil Minister Bijan Zangeneh said some OPEC members, although not Iran itself, were gearing up for a battle over market share and...

  • VIENNA, Nov 26- OPEC leader Saudi Arabia signalled on Wednesday it was unlikely to push for a major change in oil output at the producer group's meeting this week, a day after Russia refused to cooperate in any production cut. Iranian Oil Minister Bijan Zangeneh said some OPEC members, although not Iran itself, were gearing up for a battle over market share and...

  • UPDATE 1-Kellogg tops Abraaj offer for Egypt's Bisco Misr Wednesday, 26 Nov 2014 | 3:58 AM ET

    CAIRO, Nov 26- Kellogg Co, the world's biggest breakfast cereal maker, has offered 908.5 million Egyptian pounds for Egyptian cake and biscuit maker Bisco Misr, setting up a likely bidding war with a UAE investment company. UAE- based Abraaj Investment Management offered 850 million pounds this month for the Egyptian firm, which earlier refused a takeover bid...

  • Saudi's Naimi sees oil market "stabilising itself" Wednesday, 26 Nov 2014 | 3:58 AM ET

    VIENNA, Nov 26- OPEC leader Saudi Arabia signalled on Wednesday it was unlikely to push for a major change in oil output at the producer group's meeting this week, a day after Russia refused to cooperate in any production cut and threatened to unleash an oil price war. But as the meeting with Naimi and officials from Venezuela and non- OPEC member Mexico ended on...

  • South Asian leaders don't sign expected agreements Wednesday, 26 Nov 2014 | 1:36 AM ET

    KATMANDU, Nepal— South Asian leaders, including from rivals India and Pakistan, gathered in Nepal's capital Wednesday to boost cooperation in trade and energy and seek greater peace in the region, home to more than a fifth of the world's population. The South Asian Association for Regional Cooperation summit, the first since 2011, is meant as a forum to discuss...

  • South Korea makes $500 mln oil payment to Iran -sources Tuesday, 25 Nov 2014 | 10:29 PM ET

    SEOUL, Nov 26- South Korea has transferred $500 million to Iran to pay for crude oil imports under an interim nuclear deal that provides limited relief from sanctions, two sources with direct knowledge of the matter said. The interim accord between Iran, the United States, China, France, Germany, Britain and Russia was extended on Monday for seven months to allow for...

  • WASHINGTON, Nov 25- The United States is in the midst of renewing its 35- year-old commitment to supply Israel with oil in emergency situations after the pact expired on Tuesday, a U.S. State Department official said. The United States "is in close contact with the government of Israel on extending the longstanding memorandum of understanding" between the two...

  • Guessing game: What are OPEC nations thinking? Tuesday, 25 Nov 2014 | 12:08 PM ET

    Trying to guess what OPEC members are thinking in the run-up to Thursday's meeting in Vienna is a high stakes parlor game for energy analysts, political scientists and armchair geo-politicians. There is political upheaval across the Middle East, Iran is suffering under Western sanctions, and surprising growth in oil production outside of OPEC is sapping...

  • As OPEC faces tough test, lower oil prices loom Tuesday, 25 Nov 2014 | 12:07 PM ET

    NEW YORK— These are the moments OPEC exists for: A sharp drop in global oil prices has reduced the amount of money OPEC countries take in by nearly $1 billion a day. But there is widespread doubt that OPEC will be able to do much of anything when it meets in Vienna later this week— doubt sent oil down another 2 percent Tuesday. "OPEC countries do exactly what we would...

  • VIENNA, Nov 25- Talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico failed to find an agreement to address a growing oil glut on Tuesday, with no side saying they would lower output despite a collapse in prices. In a day of shuttle diplomacy ahead of OPEC's crucial output meeting in Vienna on Thursday, Russian and Mexican energy...

  • Correction: Earns-Amira Nature Foods Tuesday, 25 Nov 2014 | 11:20 AM ET

    DUBAI, United Arab Emirates— In a story and in headlines about second-quarter earnings results, The Associated Press reported erroneously in a report generated by Automated Insights using data from Zacks Investment Research that Amira Nature Foods Ltd. missed second-quarter Wall Street profit forecasts. DUBAI, United Arab Emirates— Amira Nature Foods...

  • Slower growth times ahead favor these stocks Tuesday, 25 Nov 2014 | 10:50 AM ET
    A backdrop is installed ahead of a press briefing on the Lockheed Martin BST F-35 at the Farnborough air show in Farnborough, Hampshire on July 14, 2014.

    As the U.S. economy settles into tepid growth, investors should buy stocks whose revenues are not dependent on the economic cycle, history shows.

  • *Shuttle diplomacy heats up ahead of OPEC meeting. VIENNA, Nov 25- Saudi Arabia met fellow OPEC member Venezuela and oil powers Russia and Mexico in Vienna on Tuesday, as some of the world's largest crude producers engaged in last-minute shuttle diplomacy in a bid to convince OPEC kingpin Riyadh to support prices. Saudi has kept the market guessing about its...