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  • EU leaders agree to fund for jumpstarting growth Thursday, 18 Dec 2014 | 9:21 AM ET

    BRUSSELS— European Union leaders agreed Thursday to create a strategic investment fund that could generate up to 315 billion euros in private- and public-sector money to upgrade infrastructure, jumpstart the EU's sluggish economies and ignite job growth. The plan approved by leaders of the 28- nation EU at their one-day summit meeting in Brussels calls for...

  • DUBAI, Dec 18- Saudi Arabia's powerful oil minister said on Thursday that OPEC could not cut output without the support of other big producers and attempts to get them on board had not worked. Ali al-Naimi said it was impossible for OPEC to cut alone to reverse the oil price slump-- which he called temporary-- when others were pumping more, saying that could lead to...

  • *Aim to keep pressure on Russia over Ukraine. BRUSSELS, Dec 18- The European Union banned investment in Crimea on Thursday, halting European help for Russian Black Sea oil and gas exploration and outlawing European cruise ships from calling at Crimean ports. EU leaders, who meet in Brussels later on Thursday, will pledge to keep up pressure on Russia over its role in...

  • EU bans investment in Crimean, targets tourism Thursday, 18 Dec 2014 | 7:10 AM ET

    BRUSSELS— The European Union has imposed a ban on investment in Crimea, and other economic sanctions including measures aimed at keeping tourists away. The new measures on investment, services and trade, announced Thursday, beef up the EU's previous sanctions taken in response to Russia's annexation of the peninsula from Ukraine in March.

  • Oil this week slumped as low as $58.50 and has almost halved since June as fast-growing U.S. shale output overwhelms demand, with losses accelerating after producer group OPEC decided not to cut output at its meeting last month. At 1109 GMT on Thursday, Brent for February delivery was $2.09 higher at $63.27, after settling up $1.17 in the prior session.

  • Oil this week hit a five-year low of $58.50 and has almost halved since June as fast-growing U.S. shale output overwhelmed demand, with losses accelerating after OPEC decided not to cut output at its meeting last month. At 0918 GMT on Thursday, Brent for February delivery was $1.10 higher at $62.28, after settling up $1.17 in the prior session.

  • You're going to see volatility here, "said Daniel Flynn, energy analyst at Chicago's Price Futures Group. Brent for February delivery was up $1.05 at $61.06 a barrel by 2:37 p.m. EST, after hitting a session high of $63.40. The biggest slide in oil prices since the 2008 financial crisis had accelerated after OPEC met in November, when Gulf producers resisted calls...

  • EU leaders to endorse investment plan in search for growth Wednesday, 17 Dec 2014 | 12:45 PM ET

    BRUSSELS, Dec 17- European Union leaders will agree on Thursday to set up a highly leveraged investment fund they hope can kick-start the bloc's economy and reduce high unemployment and public debt. The plan, presented by the executive European Commission last month and set to be endorsed by the 28 national leaders at a Brussels summit, is to use 21 billion euros...

  • White House fact sheet on change in Cuba policy Wednesday, 17 Dec 2014 | 12:00 PM ET

    Today, the United States is taking historic steps to chart a new course in our relations with Cuba and to further engage and empower the Cuban people. It is clear that decades of U.S. isolation of Cuba have failed to accomplish our enduring objective of promoting the emergence of a democratic, prosperous, and stable Cuba. At times, longstanding U.S. policy towards...

  • ZURICH, Dec 17- The Swiss National Bank chose the first female director in its 107- year history on Wednesday as it braces for a potentially tough policy test if the European Central Bank starts full-blown quantitative easing in 2015.. Andrea Maechler, deputy division chief at the International Monetary Fund, will head the SNB department responsible for the...

  • UPDATE 7-Oil moves above $60 as U.S. crude stockpiles fall Wednesday, 17 Dec 2014 | 11:16 AM ET

    *OPEC, Russia unwilling to cut supply, spurring weakness. LONDON, Dec 17- Brent crude oil moved above $60 a barrel on Wednesday as U.S. data showed falling crude inventories, stemming deep losses brought on by a supply glut and signals from OPEC producers and Russia that they will not cut production. "The decline in overall crude oil inventories was smallish," said John...

  • UPDATE 2-Regulators extend tax probe to all 28 EU nations Wednesday, 17 Dec 2014 | 10:52 AM ET

    BRUSSELS, Dec 17- European Union competition regulators have asked all 28 member countries for details of tax deals made with companies between 2010 to 2013, broadening their investigation into corporate tax avoidance. The move by the European Commission follows ongoing inquiries into Luxembourg's tax rulings for carmaker Fiat Chrysler and online giant...

  • OPEC DELEGATES FROM TWO NON-GULF MEMBERS SAY OPEC CANNOT CUT SUPPLY ALONE.

  • LONDON, Dec 17- OPEC members which backed an output cut at the group's meeting last month are coming around to the view of Saudi Arabia that they need to focus on market share, further reducing the chance of any action to defend prices. We are just watching and selling oil at whatever the price is, "said a delegate from an OPEC country which in November had wanted an...

  • OPEC DELEGATES SAY PRODUCERS ARE TRYING TO DISCOURAGE GROWTH OF SHALE OIL, EXPECT THIS TO HAPPEN EVENTUALLY.

  • OPEC DELEGATES SAY OPEC'S NOV DECISION NOT TO CUT OIL OUTPUT IS STIMULATING ECONOMY AND OIL DEMAND.

  • BRUSSELS, Dec 17- The International Monetary Fund estimates Ukraine needs another $15 billion in financing to withstand an economic crisis but the European Union has only limited capacity to help, European Commission President Jean-Claude Juncker said on Wednesday. Ukraine will need $15 billion in addition to what is already planned, "he told the European...

  • BRUSSELS, Dec 17- The International Monetary Fund estimates Ukraine needs another $15 billion in financing to withstand an economic crisis but the European Union has only limited capacity to help, European Commission President Jean-Claude Juncker said on Wednesday. "Ukraine will need more help. Ukraine will need $15 billion in addition to what is already...

  • EU'S JUNCKER SAYS IMF ESTIMATES UKRAINE NEEDS ANOTHER $15 BILLION IN FINANCING TO WITHSTAND AN ECONOMIC CRISIS, SAYS EU HAS LIMITED CAPACITY TO HELP.

  • UPDATE 5-Oil falls below $59 as OPEC, Russia keep pumping Wednesday, 17 Dec 2014 | 7:55 AM ET

    *OPEC, Russia unwilling to cut supply, spurring weakness. LONDON, Dec 17- Brent crude oil fell below $59 a barrel on Wednesday, near 5-1/ 2- year lows, as major oil producers signalled that they would maintain output despite a supply glut and faltering demand in Russia and Europe. "OPEC is trying to choke U.S. oil producers."