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  • WASHINGTON, April 16- Japan and the United States agreed that global institutions like the World Bank and the Asian Development Bank may work with the new Beijing- backed development bank by extending coordinated loans, Japanese Finance Minister Taro Aso said. "In our meeting, we agreed on the need for the Asian Infrastructure Investment Bank... to meet high global...

  • MELBOURNE, April 17- London tin capitulated to more than five-year lows on Friday and is on track for a brutal 11 percent weekly fall, as growing supply from Myanmar and torpid demand punish prices. *The tumble in tin prices is likely to trigger production cuts at some smelters in top exporter Indonesia and also in China, industry group ITRI said on Thursday.

  • SAN FRANCISCO, April 16- California imports of Bakken crude oil from North Dakota on barges totaled a record 1.5 million barrels last year, 27 percent greater than the amount that reached the state by rail, the California Energy Commission told Reuters on Thursday. To get the low-cost Bakken crude to California refineries, producers load it onto trains in North...

  • Oil prices fall as OPEC production soars Thursday, 16 Apr 2015 | 8:54 PM ET

    *OPEC says March output up by 810,000 bpd. SINGAPORE, April 17- Oil prices fell in early trading on Friday, ending a run of rallies earlier in the week, after OPEC said that its output surged in March, adding to a global glut. "The strategy of OPEC to put pressure on the high-cost producers is working, but the individual members seem to have moved off that focus and are...

  • SINGAPORE, April 17- Gold firmed around $1,200 an ounce on Friday but the metal was headed for its second straight weekly drop, weighed down by speculation over the timing of an interest rate hike by the U.S. *Spot gold edged up 0.3 percent to $1,200.10 an ounce by 0040 GMT, after dropping 0.3 percent on Thursday. *Physical demand for gold has also been subdued with...

  • WASHINGTON, April 16- Democrat Hillary Clinton plans to name Gary Gensler, a former financial regulator who pushed for stricter oversight of Wall Street, as the chief financial officer for her presidential campaign, Bloomberg reported on Thursday. Gensler, whose five-year term as the chairman of the Commodity Futures Trading Commission ended in January 2014,...

  • HOUSTON, April 16- Striking workers at the Marathon Petroleum Corp's Galveston Bay refinery in Texas City, Texas, rejected the company's "last, best and final" contract offer, according to a union official representing the workers. In rejecting the offer, the United Steelworkers told Marathon it was willing to resume negotiations on Monday in an effort to end the...

  • TOKYO, April 17- Asian shares edged up in early trade on Friday, on track to score weekly gains and shrugging off a languid performance on Wall Street after another set of lacklustre U.S. economic data. MSCI's broadest index of Asia-Pacific shares outside Japan added about 0.2 percent in early trade, extending a seven-year high touched in the previous session and...

  • SINGAPORE, April 17- U.S. crude futures slipped towards $56 a barrel on Friday as soaring oil production from OPEC members stoked concerns over a global glut, but Middle East tensions kept a floor under prices. It climbed 32 cents to settle at $56.71 the day before, after hitting a 2015- high of $57.42. *Russian President Vladimir Putin said Iran's flexibility over...

  • WASHINGTON, April 16- Greece on Thursday sounded a mix of defiance and willingness to compromise with its international creditors on reforms required to unlock more loans, as it faces running out of money ahead of debt repayments next month. Its official creditors- the euro zone and the IMF- have frozen bailout aid until the new leftist-led government in Athens...

  • DIARY- Top Economic Events to April 29 Thursday, 16 Apr 2015 | 8:01 PM ET

    WASHINGTON- 2015 Spring Meetings of the World Bank Group and the International Monetary Fund. WASHINGTON- Institute for International Finance hosts International Capital Markets and Emerging Markets Roundtable. NEW YORK- Reserve Bank of Australia Governor Glenn Stevens speaks at an American Australian Association luncheon hosted by Goldman Sachs- 1630...

  • WASHINGTON, April 16- Iraq is committed to making difficult reforms to its bureaucracy and regulations for foreign companies in order to attract much-needed investment, Prime Minister Haidar al-Abadi said at a Washington forum on Thursday. "In Iraq I think it's playing a role in delaying investment. The fiscal crisis in Iraq had focused officials' minds on the...

  • WASHINGTON, April 16- Legislation introduced to the U.S. Congress will set nearly 150 objectives for U.S. trade negotiators and lay the ground rules for how trade deals are approved. Highlights of the 113- page bill, which gives Congress a yes-or-no vote on trade deals, include:. *a new process to potentially turn off streamlined voting procedures in either chamber...

  • MADRID, April 16- The home and office of former International Monetary Fund chief Rodrigo Rato were searched on Thursday as part of a tax and money laundering investigation into his personal wealth, Spanish judicial officials said. Rato was quoted by news agency EFE as saying he had "confidence in Spain's judicial system" and had been helpful to officials who...

  • *USD back near 119.00 yen, euro well above $1.0700. SYDNEY, April 17- The dollar wallowed at its lowest in over a week against a basket of major currencies early on Friday, having suffered yet another setback overnight in the hands of more underwhelming U.S. economic data. Atlanta Federal Reserve Bank president Dennis Lockhart said the recent "murky" run of U.S. data...

  • HOUSTON, April 16- Striking workers at the Marathon Petroleum Corp's Galveston Bay refinery in Texas City, Texas, rejected the company's final contract offer, said an official of the United Steelworkers union local representing the workers. In rejecting the offer, the union said told Marathon it was willing to resume negotiations on Monday in an effort to end...

  • WASHINGTON, April 16- The Asian Infrastructure Investment Bank will not replace the development bank for the BRICS bloc of large emerging economies, Russia's central bank governor said on Thursday, following a meeting of the bank's representatives. Russian Finance Minister Anton Siluanov also said the representatives from Brazil, Russia, India, China and...

  • April 16- U.S. chipmaker Advanced Micro Devices Inc reported a bigger-than-expected adjusted loss and a steep fall in sales for the first quarter and said it expected weak demand for personal computers to continue for some time. But progress has lagged Wall Street's expectations due to continued weak PC and graphic card sales as well as intense competition...

  • WASHINGTON, April 16- Iraqi Prime Minister Haidar al-Abadi said on Thursday he had asked for more protection for the Reuters office in Baghdad after the news agency's bureau chief left the country due to threats. Abadi, who has been in Washington meeting with President Barack Obama to seek support in fighting Islamic State militants, said he was seeking more...

  • UPDATE 2-Schlumberger to cut 11,000 more jobs Thursday, 16 Apr 2015 | 6:31 PM ET

    April 16- Schlumberger Ltd said it would cut a further 11,000 jobs and reduced its capital spending plan for this year as the world's No.1 oilfield services provider prepares for an extended period of lower activity and pricing pressure, especially in North America. The lower activity and pricing pressure led to a 9 percent drop in Schlumberger's...