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Barclays PLC

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  • SINGAPORE, Oct 10- Brent crude futures tumbled nearly $2 to below $89 a barrel on Friday, trading at their weakest since 2010, as rising supply and a weakening global economic outlook stretched a months-long slump in oil prices. U.S. crude also slid by almost $2 to hit its lowest since 2012, ratcheting up pressure on OPEC to slash output to rescue prices in the face...

  • NEW YORK/ HOUSTON, Oct 9- Investment bank Lazard Ltd has asked bidders that have shown interest in buying Citgo Petroleum Corp's U.S. refineries to submit an additional round of offers, people close to the deal told Reuters this week as the sale process proceeds despite doubts. Venezuela's state-run oil company PDVSA hired Lazard to handle the sale process for...

  • Dollar falls to 3-week low vs yen; euro slides Thursday, 9 Oct 2014 | 3:34 PM ET

    The dollar tumbled to a three-week low against the yen on Thursday as investors continued to pare back bullish bets on the greenback.

  • LONDON, Oct 9- Britain is unlikely to sell any more of its remaining 25 percent stake in Lloyds Banking Group until the bailed-out lender is cleared to pay dividends again, banking and political sources told Reuters. Without regulatory approval to pay dividends, Lloyds shares are not expected to rise to a level that would enable UK Financial Investments, which...

  • Companies that were already deep in the red when the price of Brent was at $109 a barrel last year are having to redraw business plans for prices as low as $90. According to Morgan Stanley analysts, the seven majors- Royal Dutch Shell, BP, Exxon Mobil, Chevron, Total Statoil- ran a collective deficit of $55 billion last year. They generated $207 billion of operating cash...

  • SYDNEY/ SINGAPORE, Oct 9- The dollar hit a two-week low versus a basket of currencies on Thursday, after minutes from the U.S. Against the yen, the dollar slipped 0.2 percent to 107.91 yen, nearing Wednesday's three-week low of 107.75 yen and well away from a six-year high of 110.09 set last week. "Last week it was a pretty clear-cut buy the dollar scenario, but this week......

  • Has the yuan become a 'safe haven' trade? Wednesday, 8 Oct 2014 | 11:54 PM ET

    The U.S. dollar's bull run has been a headwind for Asian currencies in recent months, but one outlier is swimming against the tide: the Chinese yuan.

  • *Dollar index falls to lowest in two weeks. SYDNEY, Oct 9- The dollar languished at two-week lows early on Thursday, having fallen for a third straight session after minutes from the U.S. The euro jumped to $1.2733 and was now more than two cents off a two-year trough.

  • NEW YORK, Oct 8- Bank of America Corp has clinched a deal to provide inventory and working capital financing to the biggest oil refinery on the East Coast, replacing JPMorgan Chase& Co with a revamped arrangement that excludes physical supplies, according to a source familiar with the deal. The agreement with Philadelphia Energy Solutions, sealed on Tuesday, will...

  • NEW YORK, Oct 8- Barclays Plc has agreed to pay nearly $20 million to resolve a U.S. class action lawsuit accusing the British bank of manipulating the Libor benchmark interest rate, according to court papers filed Wednesday. The deal, which must be approved by a federal judge, follows earlier agreements by Barclays in 2012 to pay $453 million to settle...

  • NEW YORK, Oct 8- The U.S. dollar index rose on Wednesday, continuing a recent rally that has taken it to four-year highs and contributed to an environment where fewer companies are expected to top third-quarter revenue expectations, Barclays wrote. "Estimates have not fully adjusted to reflect recent headwinds," Barclays said in a note after the market closed on...

  • StanChart to hire 1,000 more staff in Africa Tuesday, 7 Oct 2014 | 10:59 AM ET

    LONDON, Oct 7- Standard Chartered plans to hire at least 1,000 more staff in Africa in the next couple of years, an increase of more than 10 percent, even as its expansion elsewhere has slowed. Diana Layfield, Standard Chartered's chief executive for Africa, declined to specify where the extra staff would go, but picked out Nigeria, Kenya and Ghana as three of the most...

  • LONDON, Oct 7- The euro's exchange rate against the dollar will fall to $0.95 by 2017, taking the single currency back below parity for the first time in more than a decade, according to a report by Deutsche Bank. The report, arguing that rock bottom investment returns and huge trade surpluses would drive a flood of capital out of Europe, implies a further 25 percent...

  • Big banks face another round of US charges Tuesday, 7 Oct 2014 | 6:35 AM ET

    The Justice Department is preparing a fresh round of attacks on the world's biggest banks, the New York Times reports.

  • The top US equity research analysts of 2014 Tuesday, 7 Oct 2014 | 6:01 AM ET

    Institutional Investor’s ranking of the top U.S. equity research analysts names J.P. Morgan as the No. 1 firm of the year.

  • "Industrial production is currently going through a weak phase... but the current decline is exacerbated by holiday effects," Germany's Economy Ministry said in a statement. Asian shares had made minor gains overnight but the weak data saw European bourses jolt lower, led by a 0.7 percent drop on Germany's Dax which has now lost 7.5 percent in the last three weeks.

  • *China Unicom rises on Barclays upgrade. HONG KONG, Oct 7- Hong Kong shares rose for a third straight day on Tuesday, with investor confidence recovering as the city's pro-democracy demonstrations calmed down and behind-the-scenes talks showed some signs of progress. The China Enterprises Index of the top Chinese listings in Hong Kong was up 0.4 percent.

  • MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent in early trade, shrugging off a choppy, losing session on Wall Street overnight. Japan's Nikkei stock average dropped 0.3 percent ahead of the outcome of the Bank of Japan's policy meeting later in the session. The BOJ is widely expected to maintain its massive monetary stimulus...

  • HP faces uphill battle with newly minted PC unit Monday, 6 Oct 2014 | 7:52 PM ET

    SEATTLE/ SAN FRANCISCO, Oct 6- Hewlett-Packard Co's Chief Executive Officer Meg Whitman appeared to be banking on growth markets like 3 D printing and a trickle back in PC sales when she announced on Monday a spin-off for the company's computer and printing business. Yet some questioned the move, expressing doubt over whether the newly christened " HP Inc" can...

  • New health care acquisition worth $12.2B Monday, 6 Oct 2014 | 8:53 AM ET

    The announcement is the latest in a recent spate of multibillion-dollar healthcare sector deals.