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  • U.S crude crashed below $50 a barrel while benchmark Brent crude tumbled under $53 after data showed Russian oil output at post-Soviet era highs and Iraqi oil exports at near 35- year peaks. Top crude exporter Saudi Arabia has made deep cuts to its monthly oil prices for European buyers, a move that analysts said reflects the kingdom's deepening defence of...

  • BRASILIA, Jan 5- Brazil's government must focus on making difficult fiscal adjustments in order to get economic growth and investment back in gear, Finance Minister Joaquim Levy said at his swearing-in ceremony on Monday.

  • DUBLIN/ BRUSSELS, Jan 5- Ireland has become the first European Union country allowed to export beef to the United States, 17 years after Washington banned EU imports over mad cow disease. The latest U.S. decision clears the way for Irish authorities to approve individual beef plants to export to the United States, the Irish government said. A report on the U.S....

  • *Euro STOXX 50 down 3.7 pct. LONDON, Jan 5- European equities fell sharply in choppy trading on Monday, with concerns over Greece's future in the euro zone and a steep drop in prices of crude oil and copper hurting financial and commodities stocks the most. The euro zone's blue-chip Euro STOXX 50 fell 3.7 percent, the biggest one-day percentage drop since late 2011....

  • BOSTON, Jan 5- A top Federal Reserve policymaker said on Monday that the pace of interest-rate hikes after an initial liftoff should be gradual to preserve flexibility and to help a U.S. economy that still may need stimulus. "My own view is that the pace of tightening would be actually pretty gradual over the next few years once we start liftoff," said John Williams,...

  • NEW YORK, Jan 5- JPMorgan Chase& Co has become the first bank to settle a U.S. antitrust lawsuit in which investors accused 12 major banks of rigging prices in the $5 trillion- a-day foreign exchange market. The settlement was disclosed in a letter filed on Monday with the U.S. District Court in Manhattan from lawyers for JPMorgan, the largest U.S. bank, and investors.

  • Dish unveils Sling TV video streaming service Monday, 5 Jan 2015 | 12:31 PM ET

    Jan 5- Dish Network Corp on Monday took the wraps off its long-anticipated video streaming service, named Sling TV, targeted to younger consumers who shun pricey cable and satellite subscriptions. It will include television programming and sports events from Walt Disney's ABC, ESPN and Maker Studios, Time Warner's TNT, CNN, TBS, Cartoon Network and Adult Swim, and...

  • *BMW and China dealers reach settlement over subsidies. *Dealers say $820 mln deal struck, BMW declines confirm details. SHANGHAI/ FRANKFURT, Jan 5- BMW will pay 5.1 billion yuan to auto dealers in China who pressured the world's top luxury carmaker to share the cost of overstocked showrooms, BMW's main Chinese dealership group said on Monday.

  • NEW YORK, Jan 5- Equity markets worldwide tumbled on Monday, led by commodity-linked shares as oil prices fell to 5-1/ 2- year lows and investors fled to the safety of government bonds. Data showed Russia's oil output hit a post-Soviet high last year, while Iraq's oil ministry said that the country's oil exports in December were the highest since 1980,...

  • LONDON, Jan 5- New Tesco boss Dave Lewis is expected to focus on cost cuts and asset sales when he provides an update on his plans to revive the troubled British grocer's fortunes on Thursday. Britain's biggest retailer, reeling from an accounting scandal and four profit warnings that halved its share price last year, could also detail substantial property asset...

  • *ConocoPhillips sees 1st oil at a Norwegian North Sea project. NEW YORK, Jan 5- The selloff in global oil markets showed little signs of slowing in the new year with U.S. crude breaking below $50 a barrel, the first time since April 2009, on fears of a supply glut. U.S. driller ConocoPhillips added to the bearish sentiment somewhat, announcing it had struck first oil at a...

  • Jan 5- Morgan Stanley said an employee stole data from up to 10 percent of its wealth management clients, including account names and numbers, but there was no evidence of economic loss. Morgan Stanley said information of about 900 clients had been briefly posted on the Internet. Morgan Stanley discovered the theft on Dec. 27 as part of a regular sweep of the...

  • Jan 5- The selloff in oil continued with little pause into the new year with U.S. crude futures tumbling below $50 a barrel on Monday for the first time since April 2009 on fears of a global supply glut. U.S. crude's front-month contract fell to $49.95, down 5 percent from Friday's close, before recovering to $50.20 by 11:36 a.m. ET. Benchmark Brent crude was down more...

  • NEW YORK, Jan 5- JPMorgan Chase& Co has become the first bank to settle an antitrust lawsuit in which investors accused 12 major banks of rigging prices in the $5 trillion- a-day foreign exchange market. The settlement with the largest U.S. bank was disclosed on Monday in a letter from lawyers for JPMorgan and the plaintiffs, and filed in U.S. District Court in...

  • CRUDE OIL NEARS $50 A BARREL, LAST TIME BELOW $50 WAS IN APRIL 2009.

  • Jan 5- Morgan Stanley said an employee stole data from up to 900 clients of its wealth management division, including account names and numbers, but there was no evidence of economic loss. The bank said the employee had been fired and law enforcement and regulatory authorities had been advised. Morgan Stanley said about 10 percent of its wealth management...

  • Sterling stumbles as dollar tears higher Monday, 5 Jan 2015 | 11:21 AM ET

    LONDON, Jan 5- Sterling slipped against a rallying dollar on Monday, after yet another set of weaker-than-expected economic UK data boosted bets that the Bank of England will not raise interest rates any time this year. Numbers released on Monday showed Britain's construction sector grew last month at its slowest rate since July 2013, well below economists'...

  • U.S. office vacancy rate lowest since 2009 Monday, 5 Jan 2015 | 11:12 AM ET

    Jan 5- The U.S. office vacancy rate fell to 16.7 percent in the fourth quarter from 16.8 in the third, the lowest since the third quarter of 2009, research firm Reis Inc said. Greater declines can be expected in 2015 if job gains continue to accelerate, Ryan Severino, the firm's senior economist, said in a statement on Sunday. Washington, D.C. remained the tightest...

  • *China ushers in new export tax rebate for some copper products. KUALA LUMPUR/ LONDON, Jan 5- Copper hit its lowest in 4-1/ 2 years on Monday, hit by a rising dollar and uncertainty on demand from consuming giant China after a new export tax rebate for some copper products. China introduced a new export tax rebate for some copper products and increased the export rebate...

  • NEW YORK, Jan 5- The euro tumbled to near a nine-year low on Monday, undercut by growing concerns that Greek parliamentary elections will result in a left-wing government that will aim to cancel austerity measures along with a big portion of Greece's debt. The left-wing Syriza party holds a narrowing lead ahead of Greece's Jan. 25 general election over the...