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  • NEW YORK, Nov 25- U.S. stocks edged higher on Tuesday following a reading on economic growth that was much stronger than expected, but sharper gains were difficult to come by in a quiet week with major indexes at records. The Commerce Department raised its estimate of third-quarter gross domestic product to a 3.9 percent annual pace from the 3.5 percent rate...

  • Saudi oil min meeting Russia, Venezuela and Mexico Tuesday, 25 Nov 2014 | 9:51 AM ET

    VIENNA, Nov 25- Saudi Arabian Oil Minister Ali al-Naimi is currently meeting with the energy ministers of Russia, Venezuela and Mexico, sources familiar with the matter said on Tuesday. Russia's most powerful oil official, Igor Sechin, the head of state oil company Rosneft, is also attending the discussions, the sources said. Ministers from OPEC member countries...

  • ABUJA, Nov 25- Nigeria's central bank devalued the naira and raised interest rates by 100 basis points on Tuesday, as it sought to stem losses to its foreign reserves from defending the currency hit by weaker oil prices. The bank moved the target band of the currency to 160- 176 naira to the U.S. dollar, compared with 150- 160 naira previously, owing to prolonged naira...

  • RUSSIAN FINANCE MINISTRY WILL HOLD NEXT FX DEPOSIT AUCTION ON DEC 15- SOURCE AT MINFIN.

  • WASHINGTON, Nov 25- U.S. economic growth was far stronger than initially thought in the third quarter, pointing to strengthening fundamentals that should support the economy for the rest of the year. The Commerce Department on Tuesday raised its estimate of gross domestic product to a 3.9 percent annual pace from the 3.5 percent rate reported last month,...

  • VIENNA, Nov 25- Venezuela will discuss oil-market "coordination" with OPEC heavyweight Saudi Arabia and major oil producers from outside the group, Foreign Minister Rafael Ramirez said on Tuesday, as the Latin American country tries to rally support for action to boost prices. Riyadh has kept the market guessing about its response to crude's near 30 percent...

  • Nov 25- Upscale jeweler Tiffany& Co reported a better-than-expected rise in same-store sales, mainly due to strong demand for high-end fashion jewelry in the Americas. The company's new jewelry lines, such as the Atlas Collection and Tiffany T, have been popular with customers, particularly in the Americas. Sales in the region grew 10 percent to $459 million in...

  • SOCHI, Russia, Nov 25- Russia's Gazprom Neft, the oil arm of the world's top gas producer Gazprom, agreed on Tuesday to develop Russia's Dolginskoye offshore Arctic oil field jointly with Vietnamese state energy company Petrovietnam. A Reuters correspondent at the signing ceremony also said the companies signed a deal under which Gazprom Neft will supply...

  • LONDON, Nov 25- A London law firm is rallying Tesco Plc shareholders to join a lawsuit and seek compensation for losses after Britain's largest retailer discovered a hole in its profits, suspended eight senior employees and sparked a series of investigations. Stewarts Law, one of the litigators behind a 4 billion pound investor case against Royal Bank of...

  • JOHANNESBURG, Nov 25- South Africa's power utility Eskom said on Tuesday it needs a substantial injection of funds to ease a cash crunch and to avoid another credit downgrade as it struggles to keep the lights on in Africa's most advanced economy. Eskom supplies virtually all power to South Africa. The government said last month it would inject 20 billion rand of...

  • NEW YORK, Nov 25- Macy's Inc, which traditionally kicks off the U.S. holiday shopping season with a nationally televised parade in Manhattan, also will join a handful of other companies this year parading their ads on Facebook's fledgeling video feeds. "As we were anticipating Black Friday, we wanted to take a look at how the product evolved and try to figure out how...

  • NEW YORK, Nov 25- U.S. single-family home prices showed a stronger-than-expected rise in September on a year-over-year basis, but indicated a deceleration from the prior month, a closely watched survey said on Tuesday. The S&P/Case Shiller composite index of 20 metropolitan areas gained 4.9 percent in September over the prior year. "The overall trend in home...

  • *S&P 500 has risen in 12 of past 14 sessions. NEW YORK, Nov 25- U.S. stock index futures pointed to a higher open on Tuesday, indicating major indexes would push even further into record territory, following a reading on economic growth that was much stronger than expected. The Commerce Department raised its estimate of third-quarter gross domestic product to a 3.9...

  • BEIJING, Nov 25- China's central bank will wait until fourth-quarter economic data is out and monitor U.S. and Japanese monetary policy before considering any more rate cuts or easing, a central bank adviser said on Tuesday. The People's Bank of China surprised the markets by cutting rates last Friday for the first time in more than two years to help stabilize the...

  • Cyprus eyes gas exports to Egypt via pipeline Tuesday, 25 Nov 2014 | 8:36 AM ET

    NICOSIA, Nov 25- Cyprus and Egypt agreed on Tuesday to accelerate talks on the potential export of Cypriot gas to Egypt, once the resources come on line. Cyprus discovered natural gas offshore in late 2011, while once gas-rich Egypt has turned into a net importer from an exporter in recent years. "Egypt has a very huge infrastructure and can accommodate the...

  • MOSCOW, Nov 25- Russia's economy is likely to grow by 0.7-0.8 percent in 2014 but next year's 1.2 percent growth forecast may have to be revised, Economy Minister Alexei Ulyukayev said. In an interview with German newspaper Frankfurter Allgemeine Zeitung published on Tuesday, Ulyukayev defended Russian economic policy, blaming external factors such as the...

  • WASHINGTON, Nov 25- U.S. economic growth was far stronger than initially thought in the third quarter, pointing to strengthening fundamentals that should support the economy for the rest of the year. The Commerce Department on Tuesday raised its estimate of gross domestic product to a 3.9 percent annual pace from the 3.5 percent rate reported last month,...

  • *China cen bank lowers yield for key short-term money rate. LONDON, Nov 25- Copper slipped on Tuesday as investors doubted whether additional monetary policy easing in top metals consumer China would translate into a significant improvement in demand. The spot copper market in China also remained weak, with premiums for bonded stocks in Shanghai trading...

  • MOSCOW, Nov 25- Russia's economy is likely to grow by 0.7-0.8 percent in 2014, but next year's 1.2 percent growth forecast may need to be revised, Economy Minister Alexei Ulyukayev said in an interview with German newspaper Frankfurter Allgemeine Zeitung. The ministry has officially forecasted growth of 0.5 percent this year but its officials say this may be...

  • MOSCOW, Nov 25- The Russian rouble reversed earlier gains on Tuesday, breaking a five-day winning streak as a cautious mood prevailed ahead of a key OPEC meeting on Thursday. At 1305 GMT, the rouble was 1.2 percent weaker against the dollar at 45.54 and 1.1 percent weaker at 56.59 versus the euro. The rouble had risen for each of the preceding five sessions, against...