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  • TORONTO, Dec 3- Royal Bank of Canada reported a stronger fourth-quarter profit on Wednesday as gains at its core personal and commercial banking and wealth management businesses offset weakeness at its capital markets arm. Canada's largest bank reported net income of C $2.3 billion, or C $1.57 a share, for the fourth-quarter ended Oct. 31, compared with C $2.1...

  • In contrast, a survey covering China's services industry showed slightly faster expansion. "There are clear downside risks to various areas of the world economy including the euro zone and to some extent China," said Philip Shaw, chief economist at Investec. Markit's final November Composite Purchasing Managers' Index, based on surveys of thousands of...

  • KIEV, Dec 3- Ukraine's Energy Minister Volodymyr Demchyshyn said on Wednesday an accident at the Zaporizhzhya nuclear power plant in southeast Ukraine posed no danger and that the plant would return to running as normal on Dec. 5. "There is no threat... there are no problems with the reactors," Demchyshyn said at briefing, saying the accident affected the power output...

  • MOSCOW, Dec 3- The rouble rallied on Wednesday in volatile trading with traders saying that Russia's central bank was again stepping into the market to try to halt the currency's slide. The whole question is what volumes it is limiting itself too, "said a trader at a large Western bank in Moscow. "In my view, to halt the speculative attack on the rouble, the central bank...

  • Cliffs Natural expects loss of $375 mln-$425 mln in Q4 Wednesday, 3 Dec 2014 | 6:19 AM ET

    Dec 3- Cliffs Natural Resources Inc said it expects to record a loss of $375 million to $425 million on a pretax basis in the fourth quarter as it sells some assets in West Virginia to repay debt.

  • BRUSSELS/ ATHENS, Dec 3- Greece will have to ask for an extension on its bailout program before parliaments in euro zone nations close for Christmas because a new credit line will not be ready in time, a senior euro zone official said on Wednesday. After two bailouts totalling 240 billion euros since 2010, Greece wants to switch back to market financing from the...

  • *Gold recovers from Tuesday's 1 pct drop. LONDON, Dec 3- Gold rose above $1,200 an ounce on Wednesday, boosted by rebounding oil prices and investor repositioning, though strength in the dollar and optimism about the U.S. economy kept gains in check. Gold gained about 10 percent in the first half of the year, helped by geopolitical tensions and disappointing U.S....

  • TORONTO, Dec 3- Royal Bank of Canada reported a stronger fourth-quarter profit on Wednesday, helped by double-digit earnings gains at its wealth management arm. Canada's largest bank reported net income of C $2.3 billion, or C $1.57 a share, for the fourth-quarter ended Oct. 31, compared with C $2.1 billion, or C $1.40 a share, a year earlier. The bank said cash diluted...

  • RUSSIAN CENBANK "UNDOUBTEDLY" INTERVENING ON CURRENCY MARKET AGAIN TO DEFEND ROUBLE- TRADERS.

  • BERLIN, Dec 3- Lufthansa's board meets on Wednesday to approve expansion of its budget flights against the backdrop of deteriorating relations with pilots who are now planning their tenth strike this year. However, this year's 160 million euro hit to operating profit as a direct result of the dispute over proposed changes to an early retirement scheme is only...

  • BRUSSELS, Dec 3- U.S. and EU leaders will on Wednesday pledge to work together on sanctions and on strengthening the energy security of Europe and Ukraine, as they seek to present a united front to Russia, a draft document said. Secretary of State John Kerry and Energy Secretary Ernest Moniz are in Brussels for talks after a year in which the United States has led the...

  • JAKARTA, Dec 3- Indonesia may force state giant Pertamina to disband its Singapore trading unit or relocate it to bring more transparency to operations that supply the country with one-third of its daily oil needs, said a member of the government's energy reform team. But it was the first time a member of his government had raised the possibility of disbanding...

  • *RUSSIAN ROUBLE UP AROUND 2 PERCENT VERSUS DOLLAR Wednesday, 3 Dec 2014 | 4:54 AM ET
  • LONDON, Dec 3- Stocks rose and the euro hit its weakest in more than two years on Wednesday, a day before a crucial European Central Bank meeting that may pave the way for more monetary easing in the euro zone. Recent disappointing economic indicators from Europe have stoked investor concerns about the threat of deflation amid weak global growth, though this has...

  • *Markit says data point to 0.6 pct Q4 GDP growth. The closely watched Markit/ CIPS services purchasing managers' index rose to 58.6 in November after falling sharply to 56.2 in October, beating all forecasts in a Reuters poll, amid reports of firm demand and increased new business. Markit said that taken together, the surveys suggested Britain's economy will grow...

  • *Telenor, TeliaSonera rally after unit merger deal. PARIS, Dec 3- European stocks rose in early trading on Wednesday, with Nordic telecom operators Telenor and TeliaSonera rallying after agreeing to merge their Danish operations. Shares in Germany's sportswear firm Adidas AG and food retailer Metro featured among the top losers, hurt by worries over the two...

  • EU, US present Russia with united sanctions Wednesday, 3 Dec 2014 | 4:13 AM ET
    Military vehicles drive past St. Basil’s Cathedral during a rehearsal for the anniversary of a historical World War II parade in Moscow’s Red Square, Nov. 1, 2014.

    U.S. and EU leaders plan to work together on sanctions and strengthening Europe and Ukraine's energy security in an united front against Russia.

  • BRUSSELS, Dec 3- U.S. and EU leaders on Wednesday will pledge to work together on sanctions and on strengthening Europe and Ukraine's energy security as they seek to present a united front to Russia, according to a draft document seen by Reuters. Throughout the year, the United States has led the push for tougher sanctions, while many governments in Europe, afraid...

  • Option pricing shows yen's loss of safe-haven status Wednesday, 3 Dec 2014 | 4:07 AM ET

    TOKYO, Dec 3- Once known for its safe-haven characteristics of appreciating fast and depreciating slowly, the yen is being treated in a diametrically opposite fashion by an options market that is pricing in faster falls than gains in the Japanese currency. As the yen buckles under the Bank of Japan's massive money printing, just about every market player...

  • LONDON, Dec 3- The euro slid to a 27- month trough against a buoyant dollar on Wednesday, a day ahead of a crucial European Central Bank meeting that could pave the way for more easing measures in the euro zone. New York Fed President William Dudley reiterated on Tuesday that for now the dramatic drop in oil prices- down more than 30 percent since June- was a net benefit...