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  • *Saudi Arabia, OPEC have relinquished balancing role- SocGen. LONDON, Nov 28- Brent crude oil steadied below $73 a barrel on Friday after hitting a fresh four-year low in the wake of OPEC's decision not to cut output, a move investors said would leave oil markets heavily oversupplied. Saudi Arabia blocked calls on Thursday from poorer members of the Organization of...

  • LONDON, Nov 28- A currency-rigging scandal and an intensifying squeeze on their fees are driving fund managers to scrutinise how much they pay for the foreign exchange they need to buy overseas assets. Consultancy New Change FX reckons that in a typical UK pension fund with half its money invested abroad and two-thirds of that FX exposure hedged, currencies...

  • FRANKFURT, Nov 28- German European Central Bank policymaker Jens Weidmann said on Friday it was illusory to think central banks could increase a country's growth potential for a sustained period of time. The comments from Weidmann, chief of Germany's Bundesbank and arch-hawk on the ECB's policymaking Governing Council, came after the ECB's vice president...

  • According to industry and government sources, and letters reviewed by Reuters, Essar has asked the Indian government to free it from paying its share of oil dues to Iran, and instead offset them against a $2.5 billion deal to supply steel plate to a NIOC affiliate. The back-to-back scheme comes to light at a critical stage in talks between Iran and six world powers...

  • *Brent Crude rallies off 4 year low, but set for 15 pct Nov drop. LONDON, Nov 28- Brent crude fell to a fresh four-year low on Friday, sending oil-related shares and currencies lower, after OPEC decided to refrain from cutting output despite a supply glut. Brent crude touched a low of $71.12 a barrel after settling at a four-year closing low on Thursday, when Saudi Arabia...

  • LONDON, Nov 28- Euro zone banks that failed or barely passed this year's health checks will have to demonstrate they can make sustainable profits and may need to sell off loss-making units, the European Central Bank's top banking supervisor said. "Partly because of the financial situation in Europe and partly because of the structure of the banking systems in...

  • LONDON, Nov 28- The oil price collapse pushed Russia's rouble to new record lows near the 50 per dollar mark on Friday, while currencies in energy producers from Nigeria to Malaysia hit multi-year or all-time lows. Brent crude has fallen below $72 a barrel after the OPEC club on Thursday decided against production cuts, broadening the divide between...

  • BRASILIA, Nov 28- Brazil's economy grew 0.1 percent in the third quarter from the previous quarter and pulled out of a brief recession, government agency IBGE said on Friday.

  • *Inflation 0.3 pct in Nov vs 0.4 pct in Oct. BRUSSELS, Nov 28- Annual inflation in the euro zone cooled to 0.3 percent in November as energy prices fell, suggesting deflation remains a real threat for the European Central Bank. The ECB is buying covered bonds and asset-backed securities and despite German resistance may decide as soon as the first quarter of next...

  • ATHENS, Nov 28- At Greek home appliance retail chain Electroniki, a washing machine cost 497 euros six years ago. Greece has muddled through 20 consecutive months of deflation, or continuously falling consumer prices- a phenomenon that economists say could soon infect the whole euro zone. Yet alarm over low inflation in other parts of southern Europe does not...

  • The reason explains why efforts to resuscitate Italy's moribund economy are failing. Italy is stuck in a rut of diminishing expectations. This summer, consumer prices in Italy fell on a year-on-year basis for the first time in a half-century, and they have barely picked up since.

  • PRECIOUS-Gold falls for a third day after oil drop Friday, 28 Nov 2014 | 5:43 AM ET

    LONDON, Nov 28- Gold fell on Friday on the back of a slump in oil prices, with strength in the dollar piling further pressure on the metal ahead of a referendum on the management of Swiss bullion reserves this weekend. Oil prices posted their sharpest losses since 2011 on Thursday after OPEC refrained from cutting its output following a more than 30 percent plunge...

  • *Copper down for fifth straight session. LONDON, Nov 28- Copper fell to a eight-month low on Friday, pressured by a stronger dollar and selling across metals and commodity markets following steep falls in oil prices. Brent crude fell to a fresh four-year low under $72 a barrel after OPEC decided not to cut output on Thursday, sending related shares and currencies...

  • Germany backs Blackberry's purchase of Secusmart Friday, 28 Nov 2014 | 5:05 AM ET

    BERLIN, Nov 28- Germany has approved Canadian smartphone maker Blackberry's planned acquisition of Secusmart, the encryption technology of which is used to protect the mobile devices of top politicians including Chancellor Angela Merkel. The issue was particularly sensitive in Germany, given that the deal was announced after revelations that U.S....

  • BAKU, Nov 28- British oil major BP has completed month-long maintenance work at one of its main oil fields in Azerbaijan, BP Azerbaijan said on Friday. Falling output at the main Azeri, Chirag and Guneshli oil fields has long worried Baku. Oil output at ACG declined slightly to 655,700 barrels per day in January- September 2014 from 663,200 bpd in the same period last...

  • *Saudi Arabia, OPEC have relinquished balancing role- SocGen. LONDON, Nov 28- Brent crude fell to a fresh four-year low under $72 a barrel on Friday after OPEC decided not to cut output, a move investors said would leave oil markets heavily oversupplied. Saudi Arabia blocked calls from poorer members of the Organization of the Petroleum Exporting Countries for...

  • TOKYO, Nov 28- Japanese government bond yields on Friday turned negative for the first time as the Bank of Japan's massive asset-purchase scheme aimed at boosting inflation and reviving the economy led to a severe shortage of bonds in the market. Record low interest rates in Europe have seen yields in Germany and Switzerland turn negative, prompting European...

  • NUUK/ COPENHAGEN, Nov 28- Greenlanders go to the polls on Friday with hopes for a mineral-rich independence from Denmark foundering on the reality of a tiny, shrinking economy. "Hammond accentuated all the differences between Denmark and Greenland. Greenland, whose capital Nuuk is closer to New York than Copenhagen, became a Danish colony in the early 19th...

  • PARIS, Nov 28- Louis Dreyfus Commodities named Mayo Schmidt, former head of Canadian grain handler Viterra, as its new chief executive in the latest stage of a corporate shake-up at the global trading firm. Louis Dreyfus, one of a quartet of "ABCD" companies that dominate agricultural commodity trading alongside Archer Daniels Midland, Bunge and Cargill, is trying...

  • BANGKOK, Nov 28- Thailand released a mixed bag of October data and surveys on Friday, indicating the country's economic recovery remains patchy though the central bank said there was "broad-based improvement" last month. While the Bank of Thailand's private investment index rose from September, one for consumption slipped and annual industrial output...