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  • NEW YORK, Jan 14- Morgan Stanley appointed two new executives to run its commodities business on Wednesday as the previous co-heads left their roles. The leadership change comes after months of what sources inside Morgan Stanley have described as internal confusion about the fate of commodities trading there. But in August, Morgan Stanley quietly filed plans...

  • *World Bank lowers global growth forecasts for 2015, 2016. NEW YORK, Jan 14- Oil futures spiked in late trade on Wednesday, marking the strongest daily gain in more than two years on short covering ahead of options expiration. Brent crude rose $2.10 to settle at $46.38 a barrel.

  • RIO DE JANEIRO, Jan 14- Brazil's Petroleo Brasileiro SA expects to release unaudited third-quarter financial results on Jan. 27 after a scheduled meeting of its board of directors, the state-run oil company said Wednesday in a statement. Petrobras, as the company is known, had previously said it will release the results by the end of January.

  • *Stock markets slide as World Bank cuts forecasts. NEW YORK/ LONDON, Jan 14- Gold pared gains after rallying to a 12- week high for the second straight day on Wednesday, as earlier safe-haven buying that was spurred by sharp falls in stock markets and other commodities dried up. Stock markets around the world fell sharply after the World Bank cut its growth forecasts...

  • BOGOTA, Jan 14- Facebook Inc on Wednesday launched a mobile phone application that gives Colombian users free access to a handful of online services, broadening Chief Executive Officer Mark Zuckerberg's effort to boost Internet usage in developing markets. Colombia is the first nation in Latin America to receive the new Internet.org service, in partnership...

  • NEW YORK, Jan 14- Wells Fargo& Co, one of the biggest lenders to U.S. energy companies, is reviewing each of its loans to the sector in the wake of oil prices tumbling 60 percent since last summer, executives said Wednesday. The bank did not think its energy loan portfolio was at risk enough to justify setting aside any money in the fourth quarter to cover possible...

  • *World Bank cuts global growth forecasts. *Freeport McMoRan drops on copper weakness. Stocks were still on track for a fourth day of losses, however, after a World Bank forecast sparked concerns about global economic growth and U.S. retail sales for December came in weaker than expected.

  • MIAMI, Jan 14- States probing last summer's massive hack at JPMorgan Chase& Co have asked for detailed data on the company's security practices and want to know whether the bank is certain that no sensitive account data was stolen. The states announced the probe in October after JPMorgan said that some 83 million customer records had been stolen, including names,...

  • UPDATE 1-Chipotle's pork plight could hurt Q1 results Wednesday, 14 Jan 2015 | 2:50 PM ET

    Jan 14- Chipotle Mexican Grill Inc's decision to suspend purchases from a pork producer that ran afoul of its animal welfare requirements could bolster its reputation with diners but threatens sales and profits this quarter, an analyst said on Wednesday. Chipotle shares were down 1.1 percent to $706.54 in midday trading on the New York Stock Exchange.

  • NEW YORK, Jan 14- U.S. and Brent crude futures rallied sharply on Wednesday, with U.S. crude up more than $3 a barrel, a day ahead of the Brent February contract's expiration and on the day that options for the U.S. contract expire, brokers and traders said. Brent February crude was up $2 at $48.59 a barrel at 2:36 p.m. EST, having reached $49.21 per barrel.

  • WASHINGTON/ OTTAWA, Jan 14- Canada is committed to taking outmoded tank cars off the rails years earlier than U.S. officials envision, sources familiar with negotiations say, leaving the trading partners at an impasse as they try to harmonize oil train safety measures. Canada wants fuel deliveries in the older wagons to end by May 2017. In a sign of concern, U.S....

  • NEW YORK, Jan 14- Few mutual fund managers pulled out of oil stocks before the price of crude began plummeting in the fall of 2014, according to Morningstar data. "We're not being too cavalier: some leveraged companies are going to die, and we're trying to pick our spots carefully," said Jayme Wiggins, lead portfolio manager of the $542 million Intrepid Small Cap fund.

  • WASHINGTON, Jan 14- A plunge in energy prices helped many Americans spend more freely in November and December, but it also weighed on those with livelihoods tied to the oil industry, the Federal Reserve said on Wednesday. Compiled by the Federal Reserve Bank of San Francisco, the report showed some consumers were getting a boost from lower gasoline prices, which...

  • *U.S., BRENT CRUDE FUTURES EXTEND GAINS TO MORE THAN $2 Wednesday, 14 Jan 2015 | 2:29 PM ET
  • *U.S., BRENT CRUDE FUTURES UP SHARPLY, RALLY MORE THAN $1 Wednesday, 14 Jan 2015 | 2:20 PM ET
  • *2014 loss likely due to rouble slide, Russia, Ukraine writedowns. *A quarter of EBRD's exposure to Russia, 10 pct to Ukraine. LONDON, Jan 14- The European Bank for Reconstruction and Development will probably report its first loss since the global financial crisis due to turmoil in Russia and Ukraine, the development bank's Vice President Andras Simor said on...

  • Jan 14- A former top executive of Steven Cohen's SAC Capital Advisors LP is close to launching a roughly $1 billion hedge fund in March, the Wall Street Journal reported. Solomon "Sol" Kumin, who was SAC's chief operating officer until January last year, has raised about $1 billion for his Folger Hill Asset Management LLC, the Journal said, citing a person familiar...

  • WASHINGTON, Jan 14- The head of the U.S. Chamber of Commerce charged on Wednesday that Senator Elizabeth Warren and other backers of what he called "economic populism" were actually seeking a state-run economy. Thomas Donohue, the chamber's president and a top business lobbyist, said he did not think most Americans shared the views of Warren, a liberal Democrat and...

  • WASHINGTON, Jan 14- U.S. retail sales recorded their largest decline in 11 months in December as demand fell almost across the board, tempering expectations for a sharp acceleration in consumer spending in the fourth quarter. "Faulty seasonal adjustments from shifts in holiday spending patterns are probably more to blame for the December decline," said Steve...

  • Google partners with auto suppliers on self-driving car Wednesday, 14 Jan 2015 | 2:02 PM ET

    DETROIT, Jan 14- Internet company Google Inc has begun discussions with most of the world's top automakers and has assembled a team of traditional and nontraditional suppliers to speed up efforts to bring self-driving cars to market by 2020, a top Google executive said on Wednesday. They've got a lot to offer, " Chris Urmson, director of Google's self-driving car...