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  • WASHINGTON, June 10- Ukraine cannot wait until September to reach an agreement with its creditors to find some $15.3 billion in savings before it is forced to call a moratorium on debt payments, Finance Minister Natalia Yaresko said on Wednesday. She also repeated that she expects the International Monetary Fund to release its next $1.7 billion tranche of aid...

  • ATHENS, June 10- Ratings agency Standard& Poor's downgraded Greece's sovereign rating deeper into junk territory on Wednesday, questioning whether its debt is sustainable after the government delayed a payment to the International Monetary Fund. Greece exercised its right to group all its payments to the IMF due in June and pay them before the end of the month.

  • *Britain to hold in-out EU referendum by end-2017. LONDON, June 10- Britain wants a guarantee from the European Union that it will not be penalised for remaining outside the euro zone, finance minister George Osborne said on Wednesday, setting out one key demand in London's renegotiation with the bloc. Cameron has said he wants to keep Britain inside the EU, but also...

  • WASHINGTON, June 10- The World Bank on Wednesday cut its global growth outlook for this year and urged countries to "fasten their seat belts" as they adjust to lower commodity prices and a looming rise in U.S. interest rates. "We at the World Bank have just switched on the seat belt sign," Basu said in a press conference in Washington. But the World Bank cut its 2015 growth...

  • IMF's "never again" experience in Greece may get worse Wednesday, 10 Jun 2015 | 2:24 PM ET

    *IMF has lent more to Athens than to any other borrower. BRUSSELS, June 10- For the International Monetary Fund, five years of playing junior partner in European bailouts for Greece has been a "never again" experience, and the worst may be yet to come. Now Greece may be about to become the first European nation to default on the IMF, putting it in exclusive company with...

  • UK PM Cameron says plans clampdown on non-EU immigration Wednesday, 10 Jun 2015 | 9:05 AM ET

    LONDON, June 10- The British government plans to significantly reduce immigration from outside the European Union, Prime Minister David Cameron said on Wednesday, teeing up a confrontation with business groups who fret their supply of skilled workers will be cut. Cameron has already set out plans to discourage EU migration as part of his efforts to...

  • As negotiations on a deal to prevent Athens from defaulting on its debts reach a critical stage, a French source said no meeting between the leaders of Germany, France and Greece was scheduled for Wednesday. This appeared to contradict a Greek government schedule issued on Tuesday that Prime Minister Alexis Tsipras would meet Chancellor Angela Merkel and...

  • BEIJING, June 10- European companies are growing more pessimistic as China's economy slows, a European business lobby said on Wednesday, with many firms preparing for lay-offs in the face of weaker economic growth and slow market reforms. The European Union Chamber of Commerce in China said its annual survey of members showed 39 percent of 541 respondents were...

  • BRUSSELS, June 9- A planned meeting between the leaders of Germany, France, and Greece on Wednesday was in doubt as Greece's reform proposals to unlock new funding to ward off a debt default fell well short, European Union officials said. Chancellor Angela Merkel, President Francois Hollande and Prime Minister Alexis Tsipras were to have met on the fringes of a...

  • Treasury Secretary Jack Lew told Ukrainian leaders on Tuesday that the United States and its G7 allies stood ready to impose more sanctions on Moscow if needed, a Treasury official said. "The United States and our G7 allies stand ready to impose significant additional sanctions on Russia if needed to respond to its aggressive acts in eastern Ukraine," the...

  • *Patience with Greece is running out- Finland. ATHENS/ BRUSSELS, June 9- European Union officials on Tuesday swiftly dismissed new Greek promises of economic reform, saying the proposals were not enough to unlock funds that Athens urgently needs to avoid defaulting on its debts. But the EU officials passed judgment only hours after Athens announced it had sent...

  • BRUSSELS, June 9- The new reform proposal that Greece submitted to the institutions representing its creditors on Tuesday is not sufficient to strike a deal that would unlock new funding for cash-strapped Athens, European Union officials said. The chief spokesman for the European Commission, which received the Greek proposal, reiterated after their...

  • By Renee Maltezou and Jan Strupczewski. ATHENS/ BRUSSELS, June 9- Greece handed its creditors new proposals on unlocking funds to keep the country from default, with Prime Minister Alexis Tsipras offering hope for a deal and warning the cost of failure would be enormous. Greece's bailout programme with the European Union and IMF expires at the end of this month,...

  • *As OPEC keeps output level, eyes on Iraq, Iran supply- analysts. Brent for July delivery was up 95 cents to $63.64 a barrel as of 0846 GMT, having settled down 62 cents in the previous session. Demand for oil tends to increase in the summer months as drivers take to the roads for holidays in Europe and the United States.

  • Fund giant PIMCO sees little risk of UK exit from EU Tuesday, 9 Jun 2015 | 5:54 AM ET

    LONDON, June 9- The chance of Britain leaving the European Union looks very low and uncertainty about the outcome of the country's EU membership referendum is not likely to affect business investment, a senior executive with global investment firm PIMCO said. Andrew Balls, PIMCO's global fixed income chief investment officer, said if uncertainty increased to...

  • *China's May consumer inflation weakens more than expected. *As OPEC keeps output level, eyes on Iraq, Iran supply- analysts. Brent for July delivery was up 95 cents to $63.64 a barrel as of 0846 GMT, having settled down 62 cents in the previous session.

  • *Athens talks of compromise after Tsipras rejected proposal. For all the more positive mood music, a European Union official reported "no new developments" in the hunt for a deal under which the creditors would resume aid to Athens in return for promises of more austerity. Athens and Brussels exchanged proposals last week in the hope of breaking an impasse that if...

  • *Greece worries rekindle safety bid for U.S. bonds. Treasuries yields fell on Monday with benchmark yields retreating from seven-month highs as concerns about Greece and its ability to avert default renewed safe-haven investor demand for lower-risk government debt. Greece delayed a 300 million euro payment to the International Monetary Fund last week and...

  • *OPEC oil production likely to continue to exceed demand. "A 4-6 percent drop is acceptable for refinery maintenance season in China, but 20 percent or more is a sign of demand collapse," said Bob Yawger, director of energy futures at Mizuho Securities USA. Phil Flynn, an analyst at Chicago- based Price Futures Group, said a continuous slump in Chinese demand could be a "...

  • MADRID, June 8- The International Monetary Fund on Monday increased its growth forecast for Spain in 2015 and 2016 to 3.1 percent and 2.5 percent from the 2.5 percent and 2 percent it forecast in April but warned the country against reversing unpopular reforms. Some investors have fretted that Spain could cool the pace of its reforms after the country's ruling...