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  • *U.S. light oil exports to Asia only started 4 months ago. SINGAPORE, Dec 1- An aggressive strategy by Mideast Gulf producers to exploit the lowest oil prices in five years to defend market share is showing signs of bearing fruit as U.S. crude exports to Asia grind to halt. Last week Ali al-Naimi, the oil minister of OPEC kingpin Saudi Arabia, warned his fellow OPEC...

  • Markit/ CIPS's UK Manufacturing Purchasing Managers' Index rose to 53.5 from 53.3 in October, reaching its highest level in four months and keeping well above the 50.0 mark denoting expansion. Orders from the euro zone were also hit by the weakening of the euro against sterling, survey compilers Markit said. "Waning inflationary pressures in industry will...

  • TOKYO, Dec 1- Moody's Investors Service on Monday downgraded Japan's sovereign debt rating by one notch to A1, citing rising uncertainty over the country's ability to hit its debt-reduction goal. "There are concerns the Bank of Japan's quantitative easing and Japan's high household assets have made the government complacent on fiscal policy."

  • LONDON, Dec 1- The yen fell to a seven-year low against the dollar in volatile trade on Monday after global rating agency Moody's cut Japan's sovereign rating. Moody's cut Japan's rating to A1 from AA3 and assigned a stable outlook to its debt. "Once the knee-jerk reaction is out of the way, the downgrade underlines Japan's fiscal problems and should offer...

  • *To pay dividend of 0.50 euro/ share for 2014, 2015. *Sells Spain, Portugal assets to Macquarie for 2.5 bln euros. FRANKFURT, Dec 1- Germany's biggest utility E.ON announced plans on Sunday to split in two and spin off most of its power generation, energy trading and upstream businesses, responding to a crisis that has crippled the European energy sector.

  • Also worryingly for policymakers at the European Central Bank, who are struggling to bolster growth and drive up dangerously low inflation, factory activity declined in the bloc's three biggest economies of Germany, France and Italy. There is a risk that renewed rot is spreading across the region from the core, "said Chris Williamson, chief economist at survey...

  • TRACY, Calif. Dec 1- Amazon.com Inc has installed more than 15,000 robots across 10 U.S. warehouses, a move that promises to cut operating costs by one-fifth and get packages out the door more quickly in the run-up to Christmas. The orange 320- pound robots, which scoot around the floor on wheels, show how Amazon has adopted technology developed by Kiva Systems, a...

  • Moody's downgrades Japan's sovereign debt rating Monday, 1 Dec 2014 | 3:47 AM ET

    TOKYO, Dec 1- Moody's Investors Service on Monday downgraded Japan's sovereign debt rating by one notch to A1 from Aa3, citing heightening uncertainty over the country's ability to hit its debt-reduction goal. The announcement briefly sent the yen to a seven-year low against the dollar and pushed 10- year Japanese government bond futures down by 10 ticks.

  • The index measuring price differences between dual-listed companies in Shanghai and Hong Kong was 110.01, its highest level since July 2013. A value above 100 indicates Shanghai shares are pricing at a premium to shares in the same company trading in Hong Kong, and vice versa, and part of the reason is unbalanced flows across the Hong Kong- Shanghai mutual market...

  • NICOSIA, Dec 1- Cyprus is expected to return to growth in 2015 and this year's slowdown should be shallower than expected, its central bank governor said on Monday. "I'm optimistic 2015 will be a year where Cyprus will return to growth, the signs of recovery are faster," Georghadji, who also represents Cyprus on the Governing Council of the European Central Bank, told...

  • *Iran badly hurt by tumbling oil prices. DUBAI, Dec 1- Iran's economy minister cautioned against "frenzied behaviour" on Monday after Iranians sold rials for foreign currency over the weekend amid plunging oil prices and the prospect of several more months of economic sanctions. The rial has been hit by what OPEC member Iran sees as twin disappointments-- a dip in...

  • Oil services company Tullow Oil fell 7.1 percent while miner Glencore shed 4.3 percent. Adding to a more subdued market tone after a two-week rise for major European indexes, the U.S. National Retail Federation estimated sales over the full Thanksgiving weekend would show a decline of 11.3 percent from a year earlier, to $50.9 billion. European Central Bank...

  • Aging Europe needs the migrants it doesn't want Monday, 1 Dec 2014 | 3:00 AM ET

    PARIS, Dec 1- Europe is aging faster than any other region of the world. The "old continent" may be able to offset the impact of a graying workforce until around 2020 by bringing more women and elderly people into work, encouraging mobility within Europe and making better use of existing migrants, EU and OECD experts say. "If you close the door, you will pay an economic...

  • *U.S. light oil exports to Asia only started 4 months ago. SINGAPORE, Dec 1- U.S. crude exports to Asia are grinding to a halt just four months after they began, in a sign of how an aggressive strategy by Gulf producers to defend their market share is starting to bear fruit. The move shows how the Organization of the Petroleum Exporting Countries, with its influential...

  • MOSCOW, Dec 1- The Russian rouble fell to fresh record lows at opening on Monday, following weakening oil prices and poor manufacturing data from China. Oil fell more than $2 a barrel to a five-year low in Asian trade on Monday, hitting the rouble hard as crude remains Russia's top export. Adding to the rouble's plunge was data showing that manufacturing in China, a...

  • Foreign investment flowing into Shanghai from Hong Kong through the mutual market access pilot programme took up 1.4 billion yuan of the 13 billion yuan daily quota, the lowest since the program launched in mid-November, as Hong Kong investors remained sceptical of the fundamentals behind the mainland rally. Among the most active stocks in Shanghai were...

  • Russian rouble hits fresh record low versus dollar Monday, 1 Dec 2014 | 2:04 AM ET

    MOSCOW, Dec 1- The Russian rouble fell to fresh record lows at opening on Monday, following weakening oil prices and poor manufacturing data from China.

  • *RUSSIAN ROUBLE OPENS 1.3 PCT WEAKER VERSUS DOLLAR Monday, 1 Dec 2014 | 2:00 AM ET
  • TOKYO, Dec 1- Purchases of Japanese government bonds in November by the Bank of Japan for the first time exceeded the amount of debt issued in that month, setting a new milestone that highlights the market distortions created by the BOJ's huge easing programme. Data released by the central bank through November and calculated by Reuters showed that the BOJ...

  • WELLINGTON, Dec 1- U.S. authorities have lost a motion to have cyber fugitive Kim Dotcom remanded in custody in New Zealand before his extradition hearing to face internet piracy charges in the United States. An Auckland court on Monday rejected allegations that Dotcom, the founder of the Megaupload online file storage site, was a flight risk and had broken the...