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  • DUBAI, Dec 3- Qatar's emir has appointed Sheik Abdullah bin Mohamed bin Saud al-Thani as the new chief executive of its sovereign wealth fund, the Qatar Investment Authority, the official QNA news agency said on Wednesday. The move comes less than 18 months after the appointment of Sheik Abdullah's predecessor Ahmed al-Sayed, who had previously been chief...

  • US STOCKS-Wall St ticks up, energy stocks rally again Wednesday, 3 Dec 2014 | 11:10 AM ET

    NEW YORK, Dec 3- U.S. stocks rose slightly on Wednesday, led by commodity-related shares, as data continued to show a strengthening U.S. economy and ahead of a meeting of the European Central Bank. The largest percentage gainer on the S&P 500 was land drilling contractor and oil services company Nabors Industries, which rose 6.1 percent to $13.66.

  • Dec 3- Canada's Potash Corp of Saskatchewan, the world's largest fertilizer producer, is sizing up its chances of gaining control of the four other fertilizer companies in which it holds minority stakes, Chief Executive Officer Jochen Tilk said on Wednesday. Saskatoon, Saskatchewan- based Potash Corp is reviewing its $4.5 billion worth of minority stakes in...

  • Global economy to expand at solid pace in Q4 -PMI Wednesday, 3 Dec 2014 | 11:00 AM ET

    JPMorgan's Global All-Industry Output Index, produced with Markit, fell to a seven-month low of 53.2 from October's 53.5 but has now held above the 50 mark that divides growth from contraction for more than two years. "November saw global economic growth continue its gradual slowdown from the highs of the middle of the year," said David Hensley, a director at...

  • WASHINGTON, Dec 3- Washington's worries about the global economy until recently were dominated by concerns over China's currency policies. Now the Obama administration's toughest words increasingly fall on Europe. The United States has ratcheted up pressure on Europe in recent months to act decisively to help its economy, which Treasury Secretary Jack Lew...

  • TREASURIES-Prices steady ahead of ECB, U.S. jobs data Wednesday, 3 Dec 2014 | 10:49 AM ET

    NEW YORK, Dec 3- U.S. "The market is pretty much in lockdown mode," said Eric Green, head of U.S. rates and research at TD Securities in New York. European Central Bank policymakers meet on Thursday and may announce asset buying, interest rate changes or other policy moves meant to help Europe's slumping economy.

  • *Gold recovers from Tuesday's 1 pct drop. LONDON, Dec 3- Gold rose 1 percent above $1,200 an ounce on Wednesday, boosted by firmer oil prices that prompted investors to shuffle positions in volatile trading. Gold gained about 10 percent in the first half of the year, helped by geopolitical tensions and disappointing U.S. economic data, before surrendering to a...

  • *Higher proportion of corn stocks now held by China. LONDON, Dec 3- Global grain stocks are heading for a 15- year high as the largest ever U.S. corn harvest enters its final stages, but the risk of food shortages persists as demand for meat and biofuel keeps rising. Cereal stocks have since been rebuilt and look set to climb to the highest level since the 1999/ 2000...

  • LONDON, Dec 3- Britain plans to introduce a 25 percent tax to target multinationals such as tech companies Google and Amazon accused of using complex accounting schemes to cut their payments on earnings. Companies including Google, coffee shop chain Starbucks and internet retailer Amazon have paid minimal corporate tax in Britain by shifting revenues to...

  • OTTAWA, Dec 3- The Bank of Canada held its policy rate unchanged at 1 percent on Wednesday, declaring that while Canada's economic recovery is broadening to include exports and business investment, lower oil prices could cut inflation more than expected. "Canada's economy is showing signs of a broadening recovery," the bank said. Canada is a major oil and commodity...

  • Dec 3- Expected interest rate hikes in the United States and Britain will be the most likely cause of volatility in major currencies next year, according to a Reuters poll of foreign exchange strategists which predicted the U.S. dollar will steam ahead. That will bring about more volatility in major currency prices than any monetary easing the Fed's central...

  • NEW YORK, Dec 3- Kraft Foods Inc, the maker of Maxwell House coffee, said on Wednesday it will raise prices on most of its U.S. single-serve coffees for the first time, extending its price increases to a more lucrative market. On Nov. 3, Keurig Green Mountain Inc, the maker of single-serve K-Cups, raised its portion pack prices. Arabica coffee futures prices have been...

  • *OPEC oil supply falls 340,000 bpd in Nov due to Libya- survey. "There has been a technical bounce back from the very strong declines that we have seen in the lead-up to and after the OPEC meeting," said Harry Tchilinguirian, an oil analyst at BNP Paribas in London. Brent for delivery in January was up 46 cents at $71 a barrel by 1450 GMT after falling by $2 on Tuesday on a...

  • *Oil holds above $70 a barrel. In Europe, shares were up despite surveys that showed the euro zone economy may face another contraction, as investors looked to a European Central Bank meeting on Thursday that may pave the way for more monetary easing in the currency bloc. "There isn't a strong catalyst to help fuel the rally at the moment this could change with the ECB...

  • Abercrombie cuts forecast on higher discounts Wednesday, 3 Dec 2014 | 10:00 AM ET
    Pedestrians are reflected in the window of an Abercrombie & Fitch store in San Francisco.

    Abercrombie & Fitch cut its full-year profit forecast as higher discounts and efforts to refresh its merchandise failed to attract young customers.

  • LIMA, Dec 3- Record high ocean temperatures will make 2014 the hottest year on record, or at least among the very warmest, in evidence of a long-term trend of global warming, the U.N.' s weather agency said on Wednesday. Including this year, 14 of the 15 most sweltering years on record will have been in the 21st century, the World Meteorological Organization said of the...

  • U.S. service sector growth at 3-month high -ISM Wednesday, 3 Dec 2014 | 10:00 AM ET

    NEW YORK, Dec 3- A gauge of growth in the U.S. services sector rose more than expected in November even as its employment component dipped, according to an industry report released on Wednesday. The Institute for Supply Management said its services index rose to 59.3 last month, just below the post-recession high of 59.6 hit in August, from 57.1 in October.

  • European shares gain on ECB stimulus bets; Greece leads Wednesday, 3 Dec 2014 | 9:57 AM ET

    *Greece, Spain, Italy lead rally ahead of ECB meeting. *Telenor, TeliaSonera rally after deal to merge units. LONDON, Dec 3- European stocks rose on Wednesday, led by shares in Greece, Italy and Spain, as investors bet the European Central Bank would signal further economic stimulus at a policy meeting on Thursday.

  • Osborne said he was sticking to his promise to put Britain's budget back in the black before the end of the decade, hoping that his approach to fixing the public finances will return Prime Minister David Cameron to power on May 7. Osborne said Britain's deficit would be bigger than previously expected in the current financial year and in 2015/ 16 before improving...

  • LONDON, Dec 3- Sterling hit a three-week high against the euro on Wednesday, after a survey showed Britain's dominant services sector grew much faster than expected in November and finance minister George Osborne gave an upbeat budget statement. In his Autumn Statement, Osborne raised near-term growth forecasts and while the government will miss...