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  • *China secretive on reserves, but target may be 90 days. BEIJING/ SINGAPORE, Nov 26- China is estimated to be holding double the amount of crude in its strategic reserves than its official plan has revealed, as the world's top energy consumer takes advantage of a dive in prices to strengthen its position in the global oil market. Based on data compiled by industry and...

  • *Seadrill down 16 pct after suspending dividend. LONDON, Nov 26- European shares rose on Wednesday, with Germany's blue chip index climbing for the 10th straight session as investors continued to bet on more monetary stimulus in the euro zone. Gains were capped by falls in energy shares, however, with Norwegian offshore driller Seadrill slumping after the...

  • UPDATE 3-Oil slips towards $78 as market doubts OPEC cut Wednesday, 26 Nov 2014 | 4:08 AM ET

    *OPEC needs to show unity in face of oversupply- Iran. LONDON, Nov 26- Brent crude oil fell towards $78 a barrel on Wednesday after Saudi Arabia's oil minister said the oil market "will stabilise itself eventually", ahead of a key OPEC meeting to discuss production in response to falling oil prices. Oil prices have dropped roughly 30 percent since June and predictions...

  • In Britain, US turkey dinner is business Wednesday, 26 Nov 2014 | 4:05 AM ET

    Thanksgiving isn't a holiday in Britain, but you might be forgiven for being fooled. That's because there are so many Americans in Britain these days that dozens of businesses have started selling the goods they need to celebrate. Greg Klaes, a Detroit native who used to teach science on U.S. military base schools, started growing pumpkins 30 years ago so his...

  • VIENNA, Nov 26- Iranian Oil Minister Bijan Zangeneh said on Wednesday some OPEC members, but not Iran itself, believed it was time to defend market share in the face of growing supplies from non- OPEC nations. Oil ministers from the Organization of the Petroleum Exporting Countries meet on Thursday in Vienna. Impromptu talks between Saudi Arabia, fellow OPEC...

  • STRASBOURG, France, Nov 26- European Commission President Jean-Claude Juncker presented a plan on Wednesday to leverage some 300 billion euros of largely private new investment in the European Union, saying it was time to kick-start growth without adding to public debt. "Europe needs a kick-start and today the Commission is applying the jump leads," said...

  • EU proposes $380 billion investment plan Wednesday, 26 Nov 2014 | 3:52 AM ET

    BRUSSELS— The European Union's executive Commission on Wednesday proposed a 315- billion euro investment plan to boost the bloc's flagging economy, with some 21 billion euros in seed money coming from EU institutions. Juncker said a message needs to go out to the people of Europe and the rest of the world: " Europe is back in business." Investment levels in the EU are...

  • Greek journalists on strike Wednesday, 26 Nov 2014 | 3:49 AM ET

    ATHENS, Greece— Greek journalists are on a 24- hour strike, pulling all newscasts off the air a day before a nationwide general strike against austerity measures. Radio and television stations were not broadcasting any news bulletins Wednesday, and current affairs websites were not being updated from 6 a.m. No Thursday newspapers will be published.

  • MOSCOW, Nov 26- The Russian rouble fell for a second day on Wednesday, as oil prices slipped before a meeting of the OPEC oil producers' club to discuss weak prices. Russia is not a member of OPEC. Russia sees an average oil price of around $80- 90 per barrel in the medium- and possibly in the long-term, Finance Minister Anton Siluanov said on Wednesday.

  • Back for more: Will Pfizer top its AstraZeneca bid? Wednesday, 26 Nov 2014 | 3:34 AM ET
    Viagra made by Pfizer and Nexiam made by AstraZeneca.

    Pfizer’s $110 billion bid for AstraZeneca was one of the biggest business stories of 2014 – so could a new bid be one of the biggest stories in 2015?

  • Iran oil min says non-OPEC should join any output cut Wednesday, 26 Nov 2014 | 3:34 AM ET

    VIENNA, Nov 26- Iranian Oil Minister Bijan Zangeneh said on Wednesday OPEC needs to show unity in the face of growing oversupply in oil markets and added that non- OPEC members also should participate in any output cuts. Oil ministers from the Organization of the Petroleum Exporting Countries meet on Thursday in Vienna. Impromptu talks between Saudi Arabia,...

  • Portugal yields hover around lows ahead of bond exchange Wednesday, 26 Nov 2014 | 3:22 AM ET

    "Today's exercise can be much more than just a small-scale fine-tuning event but has the potential to reshape some parts of the overall redemption profile," said Commerzbank strategists in a note on Wednesday. Around 30 percent of Portugal's 141 billion euros of outstanding debt expires by the end of 2016, according to Reuters data. Commerzbank says any such...

  • Europe shares higher; UK GDP ahead; Thomas Cook falls Wednesday, 26 Nov 2014 | 3:20 AM ET

    European shares were higher in morning trade on Wednesday with investors continuing to bet on more stimulus from the ECB and cheering positive data from the U.S.

  • *Prices fell in early trading as Asia's biggest economies weaken. Ali al-Naimi's comment that he believed oil "will stabilise itself eventually" supported crude against pressure from signs of weakness in Asia's top four economies. Impromptu talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico yielded no agreement on...

  • Saudi's Naimi says oil market will stabilise eventually Wednesday, 26 Nov 2014 | 2:46 AM ET

    VIENNA, Nov 26- Saudi Arabian Oil Minister Ali al-Naimi told reporters on Wednesday that he believed the oil market "will stabilise itself eventually". Oil ministers from the Organization of the Petroleum Exporting Countries meet on Thursday in Vienna. Impromptu talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico yielded...

  • METALS-Copper slides on demand doubts, eyes US data Wednesday, 26 Nov 2014 | 2:36 AM ET

    *London copper drops to three-week low. SYDNEY, Nov 26- London copper slipped to a three-week low before regaining some ground ahead of a flood of U.S data later on Wednesday that is forecast to shed positive light on the world's biggest economy. Three-month copper stood at $6,598 a tonne at 0718 GMT, down $8 from the London close.

  • UK 'mansion tax' could deter Angelina Jolie move Wednesday, 26 Nov 2014 | 2:23 AM ET
    Angelina Jolie

    Actress Angelina Jolie is the latest in a string of celebrities to criticize proposals for a so-called "mansion tax" in the U.K.

  • SINGAPORE, Nov 26- Brent crude steadied around $78.40 a barrel on Wednesday ahead of talks by producer group OPEC, but prices fell earlier in the session as Asia's top four economies showed signs of weakness. Traders said talks of a potential output cut ahead of the meeting of the Organization of Petroleum Exporting Countries were helping prices, but added that...

  • *Crude oil extends losses ahead of Thursday's OPEC summit. Oil prices were also under pressure as major oil producing nations failed to agree on curbs to output ahead of an OPEC meeting on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4 percent.

  • Tea giant insures tester's tongue for $1.5 million Wednesday, 26 Nov 2014 | 1:44 AM ET

    Tetley tea has insured its master blender's taste buds for £1 million ($1.5 million), according to the U.K.'s Mirror newspaper.