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  • LONDON, Nov 12- The yen pulled back from a seven-year low against the dollar on Wednesday, after comments from a Japanese government official cooled speculation that Prime Minister Shinzo Abe will call a December election. British wage data and the Bank of England's quarterly Inflation Report mean the focus in Europe will be on the pound and the likely timing of...

  • MOSCOW, Nov 12- Russia's Gazprom Neft,. Gazprom Neft, Russia's fourth biggest by oil production, said that losses from foreign exchange for the nine-month period stood at 14.6 billion roubles, largely from the revaluation of its loan portfolio denominated in foreign currencies. Rosneft, Russia's top oil producer, and Novatek, Russia's second largest gas...

  • MOSCOW, Nov 12- Russia's largest private bank, Alfa Bank, is planning to issue subordinated Eurobonds in U.S. dollars, two sources close to the plans told Reuters on Wednesday.

  • *Regulator orders UBS to hand over 134 mln Sfr. ZURICH, Nov 12- UBS tried to manipulate foreign exchange benchmarks and staff acted against clients interests, the Swiss watchdog said on Wednesday, ordering the bank to hand over 134 million Swiss francs in a forex probe. The watchdog, which this year appointed ex-UBS banker Mark Branson as its head, said its...

  • RUSSIA'S ALFA BANK PLANNING TO ISSUE SUBORDINATED EUROBONDS IN U.S.

  • LONDON, Nov 12- Sainsbury's threw down the gauntlet to larger rival Tesco on Wednesday, taking a hit on profits and the dividend to fund lower prices for customers in the latest escalation of the British supermarket battle. The strategy was the first big announcement from new boss Mike Coupe who took over in July. Shares in the group were little changed at 0835 GMT,...

  • Europe shares dip; banks mixed after forex probe fine Wednesday, 12 Nov 2014 | 3:13 AM ET

    PARIS, Nov 12- European shares dipped early on Wednesday, reversing the previous session's small gains, with shares in HSBC and Royal Bank of Scotland falling after global regulators fined five major banks for failings in currency trading. The regulators imposed penalties totalling $3.4 billion on UBS, Citigroup, HSBC, Royal Bank of Scotland and JP Morgan.

  • SHANGHAI, Nov 12- Hong Kong shares rose on Wednesday, lifted by Chinese financials after the city's central bank scrapped the daily yuan conversion limit for local residents ahead of the launch of a landmark scheme linking Hong Kong's stock market with Shanghai's. The move is effective on Monday, when the so-called stock connect scheme begins trading, giving...

  • PHNOM PENH, Nov 12- Cambodia on Wednesday raised the controversial monthly minimum wage for garment workers by 28 percent, a decision likely to infuriate unions seeking a higher increase and revive calls for strike action. Sixteen members of the Labour Ministry's Labour Advisory Committee voted for the government-proposed minimum wage of $123, compared...

  • Shares in biggest Saudi bank jump 10 pct on listing Wednesday, 12 Nov 2014 | 3:07 AM ET

    DUBAI, Nov 12- Shares in Saudi Arabia's biggest lender, National Commercial Bank, jumped their daily 10 percent limit upon listing on Wednesday after a $6 billion IPO, the largest ever in the Arab world and the second-biggest globally this year. Bahrain- based Securities& Investment Co rated NCB a "high conviction buy" with a target price of 72 riyals, citing its...

  • LONDON, Nov 12- Royal Bank of Scotland's received client complaints about foreign exchange trading practices as far back as 2010 and Chairman Philip Hampton said it was regrettable the bank did not respond to these earlier. "Two clients did express some concerns and, with hindsight, I don't think we followed them up terribly fully," Hampton told reporters on a...

  • LONDON/ ZURICH, Nov 12- Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup, on Wednesday for failing to stop their traders from trying to manipulate foreign exchange markets. Royal Bank of Scotland and JP Morgan were also fined over attempts to rig currency benchmarks in a year-long probe that has...

  • *Nvidia sued Samsung, Qualcomm for patent infringement in Sept. SAN FRANCISCO, Nov 11- Samsung Electronics Co Ltd has accused Nvidia Corp of infringing several of its chip-related patents and for making false claims about its products, counter-suing after Nvidia filed a suit against the Korean company in September. Samsung's lawsuit came after Nvidia accused...

  • UPDATE 1-Sainsbury's to cut spending to fund lower prices Wednesday, 12 Nov 2014 | 2:49 AM ET

    LONDON, Nov 12- British grocer Sainsbury's said on Wednesday it would cut costs and spending and accept lower profitability in order to bring down prices for customers to ward off rivals in an increasingly bitter British supermarket battle. With Sainsbury's share price down a third in the last year, Mike Coupe, who took over in July, has been under pressure to come...

  • *OPEC could cut output by 500,000 bpd at Nov meeting- delegates. With oil prices having fallen 30 percent from a mid-June peak, whispering among OPEC delegates ahead of its Nov. 27 meeting is starting to suggest it could informally cut output by around 500,000 barrels a day. "The consensus view is OPEC won't take any action, or if it does, not big enough or sufficiently...

  • NEW DELHI, Nov 12- India, the world's third-largest buyer of overseas coal, may be able to stop imports of power-generating thermal coal in the next three years as state behemoth Coal India steps up production, the country's power and coal minister said. "I'm very confident of achieving these targets and am very confident that India's current account deficit will...

  • SYDNEY, Nov 12- London copper edged lower on Wednesday after gaining about half a percent in the previous session when U.S. markets were shut for a holiday, while zinc prices were underpinned by a strike at a Peruvian mine. Prices have traded in a narrow $300 band of around $6,500- $6,800 since mid-September as modestly growing demand is met by ample supply.

  • The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 34.93 points, or 1.37 percent, to 2,593.54, while the Shanghai Composite Index gained 24.60 points, or 1 percent, to 2,494.28. Among the most actively traded stocks in Shanghai were Bank of China, down 2.22 percent to 3.08 yuan; Citic Securities Co, up 7.64 percent to 15.35 yuan and China...

  • Sainsbury's to cut capex and costs to fund lower prices Wednesday, 12 Nov 2014 | 2:17 AM ET

    LONDON, Nov 12- British grocer Sainsbury's said it would rein in spending on new stores and find more cost savings to finance price cuts as it seeks to cope with the toughest market conditions for decades. Sainsbury's posted a profit before tax and one off items of 375 million pounds for the six months to Sept. 27- ahead of analysts' expectations of about 350 million...

  • Bank of England fires chief FX dealer for rules breach Wednesday, 12 Nov 2014 | 2:11 AM ET

    LONDON, Nov 12- The Bank of England has fired its chief foreign exchange dealer after it found information about serious misconduct, but said the dismissal was unrelated to a foreign exchange scandal. "This information related to the Bank's internal policies, not to FX," a BoE spokeswoman said on Wednesday. Regulators in Britain and the United States have...