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  • *Iraqi security forces fighting Islamic State in Tikrit. LONDON, March 12- Brent oil futures rose above $58 a barrel on Thursday as the dollar weakened and Iraqi security forces battled Islamic State fighters in Tikrit. Iraqi security forces and mainly Shi'ite militia exchanged fire with Islamic State fighters in Tikrit on Thursday, a day after pushing into...

  • LONDON, March 12- British retailer Philip Green said on Thursday his struggling department store chain BHS had been acquired by buyout firm Retail Acquisitions. Green, whose family owns the Arcadia Group, gave no financial details about the deal, after saying previously that several groups had expressed interest in the loss-making chain.

  • *Wall St comes off extended decline. *Citigroup up in premarket after Fed review. NEW YORK, March 12- U.S. stock index futures edged higher on Thursday, suggesting a partial rebound following a string of declines, as investors looked ahead to data for indications of how soon the Federal Reserve is likely to raise interest rates.

  • *Spot copper demand in China recovers only marginally-traders. LONDON, March 12- Copper and aluminium jumped on Thursday after upbeat lending data out of China calmed fears about metals demand and triggered short-covering while a dip in the dollar also offered support. "We'd had a bit of a breather in the dollar and that's lending a bit of support," said Stephen...

  • EDINBURGH, March 12- The European Union is expected to make clearing of interest rate swaps mandatory from later this year, the bloc's securities market watchdog said on Thursday. Steven Maijoor, chairman of the European Securities and Markets Authority, told a pensions conference that the watchdog had completed an analysis of the interest rate swaps market...

  • *Gulf has biggest contingent at Egypt investment summit. DOHA/ ABU DHABI/ KHOBAR, Saudi Arabia, March 12- G ulf Arab governments are encouraging- and in some cases pressuring- hundreds of companies to attend an international investment summit in Egypt this week, in a move that may help the firms become top players in a rebounding Egyptian economy.

  • March 12- Ride-sharing service Lyft said it raised an additional $530 million in a funding round led by Japanese online retailer Rakuten Inc, giving the Uber rival a valuation of $2.5 billion and adding momentum to its expansion plans. Rakuten said it is investing $300 million for an 11.9 percent stake in San Francisco- based Lyft- its first investment in a...

  • FRANKFURT, March 12- Greece has lost a lot of trust and euro zone governments must decide whether to expand their risk exposure to Athens, European Central Bank policymaker Jens Weidmann said on Thursday. But Weidmann, who is chief of Germany's Bundesbank, said the euro zone's central banks should ensure Greece's banks do not worsen their liquidity position by...

  • *Egypt is world's top wheat importer. CAIRO, March 12- Egypt's currency market reforms are inflicting a heavy toll on many private sector wheat traders struggling to secure shipments for the world's largest wheat importer. Egypt imports over 10 million tonnes of wheat annually, mostly by the state.

  • LONDON, March 12- Britain's John Lewis Partnership posted a 9 percent fall in underlying profit on Thursday after an industry price war hit its Waitrose supermarket business, forcing it to cut its staff bonus payout for a second straight year. The 150- year-old employee-owned group, which runs Britain's biggest department store chain as well as its sixth...

  • AMSTERDAM, March 12- Geopolitical tensions, including the Russian boycott of Western agricultural produce, hit adjusted profit at Dutch dairy cooperative FrieslandCampina in 2014 and the company predicted a similarly uncertain outlook for this year. After one-offs and currency effects were stripped out, profit was down 13.1 percent year on year at 284...

  • LONDON, March 11- Ukraine, seeking to plug a $15 billion- plus funding gap via debt restructuring, may find that a multi-year payment moratorium does the trick, with investors possibly having to swallow a smaller eventual writedown than feared. The country has received the nod from the International Monetary Fund for a $17.5 billion loan package, and the fund...

  • Ukraine's credit default swaps fell 184 basis points after the International Monetary Fund approved a $17.5 billion loan package for the country, a decision that was widely expected. MSCI's emerging equity index ended nine days of losses to rise half a percent, as the dollar slipped off 11 1/ 2- year highs against a basket of currencies. "There is a bit of respite,...

  • BEIJING, March 12- China's Alibaba Group Holding Ltd, the world's largest e-commerce firm, has begun hunting staff in Seattle, home turf of Amazon.com Inc and Microsoft Corp, focusing on savvy cloud computing hires as it ramps up U.S. operations. Three positions were open to people in Seattle, two of which also allow applications for Alibaba's Silicon Valley...

  • LONDON, March 12- A slump in demand for video games and higher-priced televisions sent like-for-like sales at Argos tumbling in recent weeks, the chain's owner Home Retail said, and it expects the tougher trading environment to persist in the coming months. Home Retail, Britain's biggest household goods retailer, said sales at its Argos stores open for more than...

  • FRANKFURT, March 12- European Central Bank policymaker Jens Weidmann put the onus squarely on governments on Thursday to decide whether they wanted to cover Greece's funding needs, saying this was "less than ever" a task for the euro zone's central banks. "Complacency in economic policy matters has no place in Germany," Weidmann, whose role as Bundesbank president...

  • BRUSSELS, March 12- Output at euro zone factories fell slightly in January, but Thursday's data also showed evidence to support hopes that the bloc's fragile economy may be recovering. That strong performance was helped by increases in France, Germany, Spain and Ireland as production of goods including televisions and computers rose 2.5 percent.

  • "Hybrid" pensions may need new accounting rules-IASB Thursday, 12 Mar 2015 | 6:00 AM ET

    EDINBURGH, March 12- An international accounting standards body said on Thursday it was looking at developing new accounting methods for "hybrid" pensions which did not fit easily into standard categories. But many firms are also introducing hybrid pension schemes which do not fit neatly into either category, International Accounting Standards Board Chair...

  • The pause by the dollar gave some respite to emerging markets as well as oil and commodities heavily correlated to the U.S. currency's strength, and helped MSCI's main world stocks index secure its first rise in five days. After surging over 1.5 percent on Wednesday and now 15 percent since the start of the year, European bourses saw another solid start with...

  • *Offer values TSB at 340 pence per share. LONDON, March 12- British challenger bank TSB has received a takeover approach from Banco Sabadell, valuing the business at about $2.6 billion and said it would be willing to recommend the offer to shareholders. TSB listed on the London Stock Exchange in June last year in an initial public offering which valued the business...