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  • LONDON, Dec 8- Brent crude oil fell more than $2 a barrel on Monday to a new five-year low on predictions that oversupply would keep building until next year after OPEC decided not to cut output. In a report dated Dec. 5, U.S. investment bank Morgan Stanley said oil prices could fall as low as $43 a barrel next year. "Without OPEC intervention, markets risk becoming...

  • BRUSSELS, Dec 8- The European Union has drawn up a wish list of almost 2,000 projects worth 1.3 trillion euros that could be included in an investment plan intended to revive the continent's stagnant economy without going deeper into debt. Other projects on the list, which officials stress is not definitive, include housing regeneration in the Netherlands, a new...

  • BRUSSELS, Dec 8- The European Union has drawn up a list of almost 2,000 projects worth 1.3 trillion euros as potential candidates for an investment plan aimed to revive the continent's stagnating economy, according to an EU document seen by Reuters.

  • *Morgan Stanley cuts Brent forecast to £70 a barrel in 2015. LONDON, Dec 8- Brent crude oil fell almost $2 a barrel on Monday to a new five-year lows on predictions that oversupply would keep building until next year after OPEC decided not to cut output. "Without OPEC intervention, markets risk becoming unbalanced, with peak oversupply likely in the second quarter...

  • *Morgan Stanley cuts Brent forecast to £70 a barrel in 2015. LONDON, Dec 8- Brent crude oil fell more than a dollar to around $68 a barrel on Monday, just above five-and-a-half year lows, after Morgan Stanley cut its forecasts, saying oversupply would peak next year after OPEC decided not to cut output. "Without OPEC intervention, markets risk becoming unbalanced,...

  • BEIJING, Dec 8- Oil prices fell more than a dollar on Monday and approached a five-year low hit early this month after Morgan Stanley cut its price forecast for Brent crude, saying oversupply will likely peak next year with OPEC deciding not to cut output. "Without OPEC intervention, markets risk becoming unbalanced, with peak oversupply likely in the second...

  • SINGAPORE, Dec 8- Oil prices fell by more than a dollar on Monday to near their lowest levels since 2009 after Morgan Stanley cut its price forecast for Brent, saying oversupply will likely peak next year with OPEC deciding not to cut output. "Without OPEC intervention, markets risk becoming unbalanced, with peak oversupply likely in the second quarter of 2015,"...

  • TEL AVIV, Dec 7- The United States will continue to boost oil production but falling global prices will slow down the pace, President Barack Obama's chief economic adviser said on Sunday. After Saudi Arabia on Nov. 27 blocked calls from poorer members of the OPEC oil exporter group for production cuts to halt a slide in global prices, some analysts speculated the...

  • LONDON, Dec 7- Changes in the size of a loosely defined global "dollar zone" could lead to faster than expected shifts in the composition of world currency reserves, potentially eroding the role of the U.S. unit, said a study published on Sunday. The study, part of a quarterly review by the Bank for International Settlements, argues the dollar's domination of reserves...

  • BERLIN, Dec 7- German Chancellor Angela Merkel said in a newspaper interview on Sunday that both France and Italy needed to do more on the reform front to ensure that their 2015 budgets respected European Union fiscal rules. Unless further steps are taken by the new deadline, the Commission could fine France for falling short of its deficit-cutting obligations...

  • SANTIAGO, Dec 5- The slide in oil prices will probably cut Canadian economic growth by 1/ 3 of a percentage point in 2015, not the 1/ 4 point the Bank of Canada estimated in late October, bank Governor Stephen Poloz told Reuters on Friday. He was speaking on the sidelines of an International Monetary Fund forum in Santiago two days after he held the central bank's...

  • *Saudi Arabia slashes January oil prices for Asia, U.S. LONDON, Dec 5- Brent crude slipped below $69 a barrel on Friday, on track to finish the week below $70 a barrel for the first time since 2010, as cuts to official selling prices from Saudi Arabia added to recent pressure. "It's been weighing on the market, showing that OPEC is not ready to end its price war," said...

  • *Saudi Arabia slashes January oil prices for Asia, U.S. LONDON, Dec 5- Brent crude slipped towards $69 a barrel on Friday, on track to finish the week below $70 a barrel for the first time since 2010, as cuts to official selling prices from Saudi Arabia helped hold oil near five-year lows. "It's been weighing on the market, showing that OPEC is not ready to end its price war,"...

  • LONDON, Dec 5- The European Union may ditch plans to force banks to keep high-risk trading activities separate from their main businesses because of opposition from some member states. Britain, Germany and France, which represent much of the bloc's banking assets, are already introducing similar, national measures to mitigate bank trading risks.

  • *U.S. Esmark Inc says interested in plant. BELGRADE, Dec 5- Serbia is inviting bids for an 80- percent stake in a loss-making steel mill, aiming to ease pressure on the country's finances. But in a loan deal with the International Monetary Fund agreed last month, the government committed to cut subsidies in order to curb the deficit and cap debt seen at 70 percent of...

  • Europe barely passes global bank rules test Friday, 5 Dec 2014 | 7:26 AM ET

    LONDON, Dec 5- The European Union only scraped through a test of whether it complies with global banking rules aimed at making the financial system safer and avoiding another global markets meltdown. The United States fared better in complying with bank capital rules know as Basel III which constitute the world's core regulatory response to the 2007-09...

  • *Saudi Arabia slashes January oil prices for Asia, U.S. LONDON, Dec 5- Brent crude slipped towards $69 a barrel on Friday, on track to finish the week below $70 a barrel for the first time since 2010, as cuts to official selling prices from Saudi Arabia helped hold oil near five-year lows. "It's been weighing on the market, showing that OPEC is not ready to end its price war,"...

  • EU may ditch plan to split bank trading activities Friday, 5 Dec 2014 | 5:53 AM ET

    The European Union may ditch plans to force banks to keep high-risk trading activities separate from their main businesses because of some opposition.

  • FACTBOX-European Union plans for financial markets Friday, 5 Dec 2014 | 5:41 AM ET

    LONDON, Dec 5- European Union financial services chief Jonathan Hill has set out in a letter seen by Reuters his initial plans for financial market rulemaking during a five-year tenure that began last month, with the focus on creating a capital markets union. EXISTING PROPOSALS THAT COULD BE SCRAPPED. *draft law on investment compensation to be withdrawn due to...

  • LONDON, Dec 5- The European Union may ditch plans to force banks to keep high-risk trading activities separate from their main businesses because of opposition from some member states. European commissioner Jonathan Hill said in a letter to senior commissioner Frans Timmermans there was a need to see how much progress could be made on the plan to force banks to...