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  • *OPEC, IEA say OPEC output surges, adding to glut. LONDON, April 17- Oil prices eased slightly on Friday as evidence this week of rising crude supplies from OPEC members offset Middle East tensions and signs of a slowdown in U.S. output. A day earlier, the International Energy Agency, which advises industrialized countries, also reported a surge in OPEC production to...

  • Schlumberger is cutting another 11,000 jobs, bringing the total to 20,000 this year, as slumping oil prices squeeze the world's largest oilfield services companies. Schlumberger's profit tumbled 39 percent in the first quarter with oil companies cutting back on production in North America. Schlumberger has slashed spending to adapt, yet the fall-off has...

  • *Traders cite China clampdown fears, Bloomberg outage. LONDON, April 17- Global equities lost ground on Friday as traders grappled with an outage of Bloomberg financial terminals and fears of a regulatory clampdown on trading in China. "Traders had to catch up with that news after the Bloomberg terminals came back online, and that's when we saw the falls in Europe."

  • *Dollar index on track for 2nd worst week since 2011. LONDON, April 17- The dollar skidded to a 10- day low against a basket of major currencies on Friday, after a run of weak U.S. economic data that has cast doubt on prospects for a Federal Reserve interest rate rise in the coming months. Traders will be watching U.S. consumer inflation data due at 1230 GMT for further...

  • *West Africa produces 70 percent of world's cocoa. Other African companies such as Ghana's Golden Tree use local cocoa but import milk powder and sugar. Multinationals such as Nestle mass produce chocolate in South Africa for the continent's consumers and source ingredients globally.

  • LONDON, April 17- Emirates president Tim Clark said on Friday the airline is still waiting for a decision from Airbus over whether the planemaker will proceed with a revamp of the A380 superjumbo. Emirates, which is the leading buyer of the existing A380 jet with 140 orders, has said it would look at placing an order for up to 200 of the so-called A380neo jets should...

  • LONDON— Bloomberg LP's trading terminals, which are used by most of the world's biggest financial firms, went down for a few hours Friday due to apparent technical problems, a crash that prompted the British government to postpone a planned 3 billion-pound debt issue. Users said the outage started as trading was about to get in full swing around 8 a.m. in London,...

  • FRANKFURT, April 17- A German regulator for new drugs has suspended the assessment of the Western world's first gene therapy, UniQure's Glybera, after an adviser to the European drugs watchdog voiced concern over the treatment. An adviser for biotech drugs to the European Medicines Agency, a so-called rapporteur, last week said in a report that Glybera, which is...

  • LONDON, April 17- Argentina has started legal proceedings against five companies, including three British ones, which are drilling for oil and gas in the disputed Falkland Islands, raising tensions in a diplomatic row over the islands' sovereignty. Argentina's minister for the Falklands, known as Las Malvinas in Argentina, announced the start of the lawsuit in...

  • LONDON, April 17- Rolls-Royce said it had won a $9.2 billion order to supply engines for 50 A380 aircraft for Dubai's Emirates airline, providing a boost for the British company after a torrid year of profit warnings. It is the first time the Gulf carrier has ordered Rolls-Royce engines for its superjumbo fleet, the rest of which is powered by Engine Alliance, a...

  • LONDON— The president of Emirates airline pledged Friday to combat suggestions that the company received subsidies from the United Arab Emirates, even as his ever-expanding airline placed a whopping $9.2 billion order to buy Rolls-Royce engines. Tim Clark told The Associated Press that the allegations leveled by U.S. carriers United, Delta and American...

  • LONDON, April 17- Argentina has started legal proceedings against five companies, including three British firms, which are drilling for oil and gas in the disputed Falkland Islands, raising tensions in a diplomatic row over the islands' sovereignty. Argentina's minister for the Falklands, known as Las Malvinas in Argentina, announced the start of the lawsuit in...

  • LONDON, April 17- Nestle became the third European food company to report better-than-expected first-quarter sales on Friday, adding to evidence that the sector is moving past the troubles of 2014.. Last year, makers of consumer packaged goods were hammered by slowed economies, including in once-hot markets such as Brazil and China. "Another European food Q1...

  • *Cheap central-bank cash offsets nerves over Greece. LONDON, April 17- Global equities were set for their third straight weekly gain on Friday, hovering near fresh all-time highs as cheap central bank cash kept buoying markets and offset fears that Greece may run out of money as debt repayments loom. The possibility that Athens might not be able to meet payments...

  • SEOUL, South Korea— Global stock markets were mostly lower on Friday while stocks in mainland China extended their gains on expectations of further policy easing. KEEPING SCORE: European markets opened mixed with Britain's FTSE 100 up 0.4 percent at 7,090.82 and France's CAC 40 adding 0.1 percent to 5,227.91. CHINA STIMULUS: Stocks in Shanghai continued their...

  • *Dollar index on track for worst week in month. LONDON, April 17- The dollar fell for a fourth straight day on Friday, coming close to its one-week low, after a run of weak U.S. economic data cast doubt on prospects for a Federal Reserve interest rate rise in coming months. said Peter Kinsella, senior FX strategist at Commmerzbank in London.

  • LONDON, April 17- European Union plans to help markets raise more funds for the economy play to London's strengths as a global trading centre, the bloc's financial services chief Jonathan Hill told leading bankers and dealers on Friday. In his first speech to London's financial community since his appointment to the European Commission last November, the...

  • Financial spreadbetters expected Britain's FTSE 100 to open up by 12 to 15 points, or 0.2 percent higher. Europe's stock markets have lately pushed to multi-year peaks, with both the FTSE and DAX setting record highs this year as new economic stimulus measures from the European Central Bank offset worries about Greece's fiscal woes. MSCI's broadest index of...

  • The revived momentum for Chinese automakers adds to pressure on General Motors Co., Volkswagen AG and other global brands that see China's crowded market as their future at a time when sales growth is slow in the United States and stalled in Europe. Producers including Nissan Motor Co., VW and Mercedes Benz see the market as so important they increasingly are...

  • China auto brands enjoying rebound driven by new models Thursday, 16 Apr 2015 | 9:36 PM ET

    The revived momentum for Chinese automakers adds to pressure on General Motors Co., Volkswagen AG and other global brands that see China's crowded market as their future at a time when sales growth is slow in the United States and stalled in Europe. Producers including Nissan Motor Co., VW and Mercedes Benz see the market as so important they increasingly are...