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...» Read More
BRUSSELS, Oct 1- The installation of a new executive team for the European Union hit a first major obstacle on Wednesday when EU lawmakers ordered Britain's Jonathan Hill to return next week to try again to convince them he could be trusted to oversee financial services in the bloc.
LONDON, Oct 1- Capping bankers' bonuses will not cut risk in the financial system, the International Monetary Fund said on Wednesday, offering Britain moral support in its legal challenge to EU curbs on pay in the financial sector. The European Union has gone further, capping banker bonuses at twice fixed salary.
WASHINGTON, Oct 1- Fighting the Ebola epidemic means confronting the issue of inequality, as people in poor countries have less access to knowledge and infrastructure for treating the sick and containing the deadly virus, the head of the World Bank said.
*Brent seen averaging $103.30, WTI $96.10 in 2015. Brent has averaged near $110 a barrel since 2011 but has fallen sharply since June as U.S. shale oil supplies outstripped expectations and Iraqi and Libyan production has risen despite violence and political unrest in the two OPEC members.
MOSCOW, Oct 1- The International Monetary Fund halved its forecast for Russia's 2015 gross domestic product to 0.5 percent on Wednesday, saying that international tensions had created downside risks to its estimates.
MOSCOW, Oct 1- The International Monetary Fund halved its growth forecast for Russia for 2015 to 0.5 percent in gross domestic product terms on Wednesday, saying that uncertainty over geopolitical tensions brought downside risks to its estimates.
IMF MISSION HEAD SAYS INTRODUCTION OF CAPITAL CONTROLS WOULD NOT HELP RUSSIA, AGREES WITH CENTRAL BANK STANCE AGAINST THE MEASURE.
IMF MISSION HEAD SAYS RUSSIA NEEDS TIGHTER MONETARY POLICY TO REDUCE INFLATION.
IMF MISSION HEAD SAYS 2014 INFLATION TO REACH MORE THAN 8 PCT, KEEPS CAPITAL OUTFLOW FORECAST AT $100 BLN FOR THIS YEAR.
RUSSIA IMF MISSION HEAD SPILIMBERGO SAYS IMF CUTS RUSSIA'S 2015 GDP FORECAST TO 0.5 PCT FROM EARLIER 1.0 PCT, RISKS ARE TILTED TO DOWNSIDE.
*China's PMI steadies at 51.1, just above forecast. *Ample supply, higher OPEC output weighs on prices. Concern over growing oil supply despite conflict in the Middle East and a stronger dollar pushed global benchmark Brent to its lowest since June 2012 on Tuesday, and the same factors are likely to keep a lid on any price recovery.
TO PAY BRAZILIAN COTTON INSTITUTE $300 MILLION TO SETTLE WTO DISPUTE OVER COTTON SUBSIDIES- OFFICIALS FAMILIAR WITH THE SETTLEMENT.
WASHINGTON, Sept 30- The United States is keen to include investor protection in a trade pact being negotiated with the European Union and will work with EU officials to find the right balance, a senior U.S. trade official said on Tuesday.
*EU regulator requests income statements of 2 Apple groups. *If proven, Ireland could have to claw back tax from Apple. BRUSSELS/ LONDON, Sept 30- The European Union has accused Ireland of swerving international tax rules by letting Apple shelter profits worth tens of billions of dollars from revenue collectors in return for maintaining jobs.
*OPEC output highest since November 2012- Reuters. LONDON, Sept 30- OPEC's oil supply jumped to its highest in almost two years in September, a Reuters survey found, due to further recovery in Libya and higher output from Saudi Arabia and other Gulf producers in the face of sub- $100 per barrel oil prices.
OPEC OUTPUT RISE LED BY LIBYA AND IRAQ, SAUDI ARABIA ALSO BOOSTS SUPPLY- SURVEY.
Sept 30- The following table shows OPEC crude oil output in millions of barrels per day in September and August, according to a Reuters survey published on Tuesday. Overall OPEC supply has stayed above its notional target of 30 million bpd. OPEC meets in November to consider adjusting the target for the first half of next year.
BRUSSELS, Sept 30- The European Union has accused Ireland of giving Apple Inc. illegal state aid through tax arrangements that had "no scientific basis" but which helped the iPhone maker shelter tens of billions of dollars in international revenues from tax.
BRUSSELS, Sept 30- European Union antitrust regulators have asked Ireland to provide details of its tax arrangements with Apple in 1990 and 2007, warning that they could amount to illegal state aid which may be recovered from the U.S. company.
By Barbara Lewis and Adrian Croft. BRUSSELS, Sept 29- European Union regulators will provide more details on Tuesday of their reasons for launching in-depth inquiries into tax arrangements reached by Ireland with Apple and by Luxembourg with a Fiat subsidiary.