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  • *Weekly jobless claims fall to 276,000 vs est 279,000. June 4- U.S. stocks rebounded after the International Monetary Fund warned that the U.S. Wall Street was pressured earlier in the day due to a persistent selloff in the global bond market and a sharp fall in U.S. nonfarm productivity in the first quarter.

  • At OPEC, some sow seeds of solar energy race in Gulf Thursday, 4 Jun 2015 | 10:16 AM ET

    VIENNA, June 4- To hear the oil ministers of Saudi Arabia and Kuwait talk about it this week, the race to develop massive solar power arrays in the world's sunniest nations is nearly as important as the current battle for oil market share. At a major conference in Vienna attended by the world's most influential oil officials and executives, the two OPEC powerhouses...

  • UPDATE 6-Oil extends losses ahead of OPEC meeting Thursday, 4 Jun 2015 | 10:07 AM ET

    *OPEC expected to keep oil production high, roll over target. *Oil price relief rally could occur after OPEC meeting- analysts. LONDON, June 4- Crude oil prices fell more than $1 on Thursday as investors prepared for a widely expected decision by OPEC members to maintain current production levels, despite worries over a global supply glut.

  • WASHINGTON, June 4- The U.S. Federal Reserve should delay a rate hike until the first half of 2016 until there are signs of a pickup in wages and inflation, the International Monetary Fund said in its annual assessment of the economy on Thursday. Fed chair Janet Yellen has insisted the economy remains on track and that a rate rise this year is on the cards, although...

  • UPDATE 1-Indonesia hopes to rejoin OPEC by year-end Thursday, 4 Jun 2015 | 9:28 AM ET

    VIENNA, June 4- Indonesia hopes to rejoin OPEC by the oil producer group's next meeting in around six months' time, Energy Minister Sudirman Said said on Thursday. Full OPEC members must be net oil exporters, but so-called associate members can be admitted under some circumstances, according to OPEC's statues. Said said Indonesia could help "bridge the gap" between...

  • ATHENS, June 4- Greece's EU/IMF lenders have asked Athens to commit to sell off state assets, enforce pension cuts and press on with labour reforms, two sources familiar with the plan said on Thursday, demands that would cross the Greek government's "red lines". If Greece were to accept the plan, lenders would aim to unlock 10.9 billion euros in unused bank bailout...

  • Indonesia hopes to rejoin OPEC by year-end Thursday, 4 Jun 2015 | 8:27 AM ET

    VIENNA, June 4- Indonesia hopes to rejoin OPEC by oil producer group's next meeting in around six months' time, Energy Minister Sudirman Said said on Thursday. Full OPEC members must be net oil exporters, but so-called associate members can be admitted under some circumstances, according to OPEC's statues. Said said Indonesia could help "bridge the gap" between oil...

  • BRUSSELS/ LONDON, June 4- The European Union may have to offer its heaviest polluting industries another ten years of free carbon credits to prevent them from leaving the region to do business elsewhere, EU regulators have suggested in a report seen by Reuters. The list of companies entitled to free permits covers sectors including steel and chemicals...

  • ANTANANARIVO, June 4- Madagascar has made state institutions more transparent and supported medium-term growth but the economy is struggling now due to weak commodity prices, bad weather and tax avoidance, the IMF said. The International Monetary Fund made the comments in a statement on Thursday at the end of its latest mission to Madagascar since it renewed...

  • UPDATE 5-Oil steadies ahead of OPEC meeting Thursday, 4 Jun 2015 | 6:55 AM ET

    *OPEC expected to keep oil production high, roll over target. LONDON, June 4- Oil prices steadied on Thursday as a weaker dollar offset worries over a global supply glut ahead of a meeting of OPEC oil producers. "The stronger euro is now supporting oil prices," said Tamas Varga, oil analyst at London brokerage PVM Oil Associates.

  • PARIS, June 4- A major World Trade Organisation deal on streamlining global customs rules could cut international trade costs by between 12.5 percent and 17.5 percent, a study by the Organisation for Economic Co-Operation and Development showed on Thursday. Ash declined to endorse this figure, only saying the Paris- based body expected each 1 percent...

  • IMF calls for simpler EU budget rules, focus on debt Thursday, 4 Jun 2015 | 5:37 AM ET

    BRUSSELS, June 4- The International Monetary Fund called on the European Union on Thursday to simplify its budget rules to limit discretion in their application and focus on bringing down public debt. The head of the IMF's fiscal department Vitor Gaspar told a seminar organised by the European Political Strategy Centre that the European Union's rules were...

  • VIENNA, June 4- The U.S. tight-oil boom is here to stay despite low crude prices as technological breakthroughs will allow steep reductions in costs, the head of U.S. firm ConocoPhillips told a seminar organised by oil-producing group OPEC. OPEC chose instead to fight for market share, betting that a price drop would depress output in higher-cost producers such...

  • UPDATE 4-Oil prices slip ahead of OPEC meeting Thursday, 4 Jun 2015 | 4:28 AM ET

    *OPEC expected to keep oil production high, roll over target. LONDON, June 4- Oil prices slipped on Thursday ahead of a key OPEC meeting to decide production policy at a time of huge global oversupply. "A roll-over in OPEC's production target is built into prices," said Tamas Varga, oil analyst at London brokerage PVM Oil Associates.

  • *Global crude glut remains as OPEC seen keeping output high. SINGAPORE, June 4- Oil prices fell on Thursday as a large crude glut overshadowed strong global fuel demand ahead of a meeting on Friday in which OPEC looks to be unlikely to change its production quota. Energy advisory Wood Mackenzie said on Thursday it was unlikely OPEC would agree to cut output at its...

  • *China's new car sales on track to set new record. SINGAPORE, June 4- Asian consumption of gasoline and other fuels has beaten expectations due to demand stemming from structural changes in the economies of Asia's biggest oil users, vindicating for now OPEC's decision six months ago to keep its taps open. Saudi Arabia's oil minister in November persuaded fellow...

  • Yuan weakens marginally, broadly stable trend intact Thursday, 4 Jun 2015 | 12:01 AM ET

    SHANGHAI, June 4- China's yuan weakened slighly on Thursday after reforms to further open the onshore repurchase agreement market to foreigners, but analysts expect the currency to remain range bound for the next few months ahead of an International Monetary Fund review. The People's Bank of China set the midpoint rate at 6.1164 per dollar prior to market open,...

  • *China's new car sales on track to set new record. SINGAPORE, June 4- Asian consumption of gasoline and other fuels has beaten expectations due to demand stemming from structural changes in the economies of Asia's biggest oil users, vindicating for now OPEC's decision six months ago to keep its taps open. Saudi Arabia's oil minister in November persuaded fellow...

  • *Global crude glut remains as OPEC seen keeping output high. Front-month Brent futures were down 16 cents at $63.64 per barrel by 0300 GMT. Energy advisory Wood Mackenzie said that it was very unlikely that OPEC would agree to cut output at its June 5 meeting and that it expected the group's crude output to remain just above its 30 million bpd production ceiling...

  • WASHINGTON, June 3- Argentina has failed to take sufficient steps to bring the quality of its economic statistics in line with global standards, the International Monetary Fund's board said on Wednesday. The IMF, which requires accurate data to analyze the world's economies, censured Argentina in 2013 over failing to improve its inflation and gross domestic...