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  • Shake Shack sizzles in market debut Friday, 30 Jan 2015 | 10:18 AM ET

    Jan 30- Shares of gourmet hamburger chain Shake Shack Inc soared 150 percent in their first few minutes of trading on Friday, valuing the company that grew out of a hotdog cart in New York's Madison Square Park at nearly $2 billion. Meyer, who also owns popular New York restaurants Blue Smoke, Gramercy Tavern and Union Square Cafe, opened the first Shake Shack in...

  • *OPEC increases Jan. output to 30.37 bpd- Reuters survey. LONDON, Jan 30- Oil fell below $49 a barrel on Friday and was on course for its seventh straight month of declines, the longest such bear run on record as a supply glut showed no signs of easing with OPEC increasing production in January. Benchmark Brent crude prices have kept within a band of $45- $50 a barrel since...

  • *Half of the assets on sale are in North America. *North Sea could prove a hard sell. LONDON, Jan 30- With more than $110 billion of oil and gas assets on the block as companies big and small count the cost of the collapse in oil prices, it is now a question of who will blink first to set the M&A scramble in motion.

  • West Bancorp posts 4Q profit Friday, 30 Jan 2015 | 8:51 AM ET

    WEST DES MOINES, Iowa _ West Bancorp Inc. on Friday reported fourth-quarter profit of $5.8 million. West Bancorp shares have dropped roughly 2 percent since the beginning of the year. Keywords: West Bancorp, Earnings Report.

  • Myanmar opens deep sea port for Chinese oil pipeline Friday, 30 Jan 2015 | 7:03 AM ET

    YANGON, Myanmar— Myanmar has officially opened a deep sea port off its western coast, part of a $2.45 billion port and pipeline project that will carry crude oil from the Middle East to China. CNOC said in a statement on its website that a recently completed pipeline from Kyaukphyu district in Myanmar's Rakhine state to China's Yunnan province will be able to...

  • *Renewed violence in Iraq supports prices. LONDON, Jan 30- Oil rose above $49 a barrel on Friday, supported by renewed violence in Iraq but with a persistent global supply glut keeping the market on course for a seventh straight month of declines, its longest bear run on record. Benchmark Brent crude prices have kept within a band of $45- $50 a barrel since hitting a...

  • LONDON, Jan 30- Qatar Airways has bought a 9.99 percent stake in International Consolidated Airlines Group worth around 1.15 billion pounds, building closer ties with the owner of its partners British Airways and Iberia in the oneworld alliance. "IAG represents an excellent opportunity to further develop our Westwards strategy," Qatar Airways Chief...

  • DUBAI, United Arab Emirates— Qatar Airways said Friday it has bought nearly 10 percent of the parent company of British Airways and Spain's Iberia, deepening wealthy Qatar's business ties to Europe and intensifying competition with the airline's fast-growing Gulf rivals. "It makes sense for us to work more closely together in the near term and we look forward...

  • *Asia buyers raise Iran imports to 1.12 mln bpd in 2014. Imports by Iran's four biggest buyers- China, India, Japan and South Korea- averaged 1.12 million barrels per day in 2014, government and tanker-tracking data showed, the highest since the region took more than 1.5 million bpd in 2011. Soaring imports last year by China and India after the partial easing of...

  • Jan 29- Bankrupt drugmaker Dendreon Corp has reached a stalking-horse deal with Canada's Valeant Pharmaceuticals International Inc to sell the worldwide rights to its cancer vaccine, Provenge, and certain assets for $296 million. The deal is subject to higher and better bids and extended the bid deadline to Feb. 10 for interested parties to participate in an...

  • HOUSTON/ WILLISTON, N.D., Jan 29- ConocoPhillips and Occidental Petroleum Corp on Thursday slashed exploration spending plans for this year, as the third- and fourth-largest U.S. oil companies attempt to cope with a steep slide in crude prices. The cuts follow similar steps by rival Hess Corp earlier this week while Royal Dutch Shell, Europe's largest oil company,...

  • China overtakes US as world's top investment magnet - UN Thursday, 29 Jan 2015 | 12:00 PM ET

    GENEVA, Jan 28- China overtook the flagging United States to become the top destination for foreign direct investment last year, according to the United Nations economic thinktank UNCTAD. That was largely down to a deal between U.S. firm Verizon Communications Inc and its British partner Vodafone, which included a share buyback that reversed $130 billion of...

  • Senate panel approves Iran sanctions bill Thursday, 29 Jan 2015 | 11:18 AM ET

    WASHINGTON— A bill that would levy tough new sanctions on Iran if it fails to sign an agreement to curb its nuclear program cleared a Senate committee on Thursday. Republican and Democratic members of the Senate Banking, Housing and Urban Affairs Committee voted 18-4 to pass the bill aimed at ramping up economic pressure on Iran starting in July if it doesn't ink...

  • DUBAI, Jan 29- Royal Bank of Scotland plans to sell or close its corporate debt and debt capital markets business in the Middle East and Africa, the latest pullback by the state-controlled lender from emerging markets to focus on its domestic business. This came on top of confirmation in November it was reviewing its options across its Central and Eastern Europe,...

  • Timberland sever ties with A.P.C. for using "N-word" Thursday, 29 Jan 2015 | 10:16 AM ET

    PARIS— Singer Carla Bruni, actress Catherine Deneuve and burlesque performer Dita Von Teese were among regulars attending the spectacular displays at Paris' haute couture week Wednesday. Sophie Hunter, the fiancée of Oscar-nominee Benedict Cumberbatch, meanwhile, caused much fracas when she attended Valentino hiding her baby bump. But it was surely Naomi...

  • LONDON, Jan 29- U.S. commercial crude oil stocks last week hit their highest level since 1931- when the opening of giant oil fields in the United States coincided with the Great Depression to create an enormous glut and sent prices tumbling to just 13 cents per barrel. In October 1929, U.S. commercial crude stocks peaked at a staggering 545 million barrels, following...

  • *Saudi Arabia's petchems, banks retreat. DUBAI, Jan 29- Saudi Arabia's stock market pulled back on Thursday after gaining strongly earlier in the week, while disappointing dividends and earnings weighed on other Gulf markets. Petrochemicals major Saudi Basic Industries dropped 2.6 percent and Samba Financial Group lost 1.0 percent.

  • PARIS/ DUBAI, Jan 29- Total became the first oil major to renew a 40- year onshore concession in Abu Dhabi, putting its peers under pressure to improve terms after the local partner said the French firm made the best offer. The state-run Abu Dhabi National Oil Company signed an agreement on Thursday with Total giving the firm a 10 percent stake in the new concession...

  • HELSINKI/ FRANKFURT, Jan 29- Nokia on Thursday reported strong profits at its core Networks business on the back of surging North American sales, but the shares fell back over an uncertain outlook, higher costs in its Technologies division and a disappointing dividend. The Finnish company, which sold its former flagship phones business to Microsoft last year,...

  • LONDON, Jan 29- Standard Chartered's board will discuss succession planning at a meeting in Washington, D.C., on Thursday, people familiar with the matter said. It was inevitable issues around the succession of Chief Executive Peter Sands would come up, two people familiar with the matter said. The former McKinsey consultant steered Standard Chartered through...