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  • Austrian banks count cost of eastern troubles Friday, 16 Jan 2015 | 2:00 AM ET

    UniCredit Bank Austria, the Austrian bank with the biggest exposure to CEE, booked a 1.6 billion euro loss in 2013 after big goodwill impairments for exposure in the East, where it is trying to sell its Ukraine business after ending an ill-fated foray into Kazakhstan. Raiffeisen ratcheted higher estimates for bad loan provisions due to increasing violence in...

  • RUSSIAN CENBANK CONDUCTS 2.5 BLN ROUBLES WORTH OF FOREX MARKET INTERVENTIONS ON JAN 14.

  • *Fast Retailing, SoftBank together take hefty points off from Nikkei. TOKYO, Jan 16- Japan's Nikkei share average skidded on Friday in volatile trade as risk appetite was dampened by a strong yen after Switzerland stunned markets by abandoning its cap on the franc. Index-heavy shares tumbled, with SoftBank Corp and Fast Retailing Co fell 2.5 percent and 3.7...

  • HONG KONG, Jan 16- One of Macau's largest junkets plans to shut its local VIP rooms in the next few months, Nomura researchers said, as casino revenues in the world's biggest gaming hub take a hit from China's campaign against graft and conspicuous spending. David Group's market share of Macau's VIP market is 3-5 percent, Nomura said in a research note, citing data...

  • BEIJING, Jan 16- China announced fresh support measures on Friday for its slowing economy after data showed a worrying drop in bank lending and foreign investment growth falling to a two-year low. The latest attempt to ease policy in a "targeted" manner to help the most vulnerable sectors came as data showed that foreign direct investment in China rose just 1.7...

  • BEIJING, Jan 16- China's Xiaomi Inc, the world's third-biggest smartphone maker, will invest in Indian start-ups and overseas media content, Hugo Barra, vice president of the company's global division, said in an interview on Friday. India is already the largest market for us outside of mainland China, "Barra said. The privately held company has risen to become the...

  • SAN FRANCISCO/ BEIJING/ SHANGHAI, Jan 16- China's Alibaba Group Holding Ltd plans a major move to win U.S. business this year, by offering American retailers new ways to sell to China's vast and growing middle class. Anchored by Alipay, the dominant Chinese electronic payments system that works closely with Alibaba and is controlled by its executives, the world's...

  • RETAILERS TO CHINESE CONSUMERS- SOURCES.

  • *Fed sees economy ripe modest tightening in some 6 months. NEW YORK/ SAN FRANCISCO, Jan 16- Tumbling oil prices have strengthened rather than weakened the Federal Reserve's resolve to start raising interest rates around midyear even as volatile markets and a softening U.S. inflation outlook made investors push back the timing of the "liftoff."

  • The two biggest ETF providers, BlackRock and State Street, lost share last year. By contrast, BlackRock and State Street have been giving up share for years, with Black Rock falling from a 48 percent share at the end of 2008 to 37.9 percent now, and State Street dropping from 30 percent to 22.7 percent in the same period, according to Lipper data. BlackRock fell 0.97...

  • SYDNEY, Jan 16- New Zealand's Financial Market Authority said on Friday it was "seeking status update" from Global Brokers NZ Ltd after retail foreign exchange dealer said it had been forced to close due to hefty losses incurred from wild swings in the Swiss franc. Global Brokers said the dramatic overnight move on the Swiss franc fueled by the Swiss National...

  • Jan 16- Wet Seal Inc filed for bankruptcy protection late on Thursday, a week after the struggling apparel retailer laid off 3,700 employees and closed 338 stores. Wet Seal, which reported slowing year-on-year sales growth for the past five quarters, warned last month that it may seek to restructure under provisions of the U.S. Wet Seal sells apparel and...

  • India oil imports from Iran jump sharply in 2014 Friday, 16 Jan 2015 | 12:33 AM ET

    *India's Iran imports rise to 276,800 bpd vs 195,600 bpd in 2013. NEW DELHI, Jan 16- India imported 42 percent more Iranian oil last year over 2013 levels as its refiners increased purchases to take advantage of an easing in sanctions targeting Tehran's nuclear programme. Iranian and U.S. officials are meeting in Geneva this week ahead of talks between Tehran and...

  • Retailer Wet Seal files for Chapter 11 bankruptcy Friday, 16 Jan 2015 | 12:03 AM ET

    Jan 16- Wet Seal Inc filed for bankruptcy protection late on Thursday, a week after the struggling apparel retailer laid off 3,700 employees and closed 338 stores. The company listed assets of $10 million to $50 million and liabilities of $100 million to $50 million, according to the filing. Wet Seal sells apparel and accessories for teen girls and young women...

  • U.S. venture capitalists spend most money since 2000 Friday, 16 Jan 2015 | 12:01 AM ET

    SAN FRANCISCO, Jan 16- U.S. venture capitalists invested $48.39 billion last year, the biggest total since 2000, according to new data from the National Venture Capital Association, PricewaterhouseCoopers, and Thomson Reuters. "Internet models today are fundamentally more sound than Internet models of 2000," said Deven Parekh of Insight Venture Partners, a...

  • NEW YORK, Jan 16- Lifting U.S. crude export restrictions could boost domestic oil production and cut gasoline prices, according to a report issued Friday by Columbia University's Center on Global Energy Policy. Modifying or lifting export restrictions would prevent this from happening by allowing domestic producers to compete globally, said the study's...

  • SINGAPORE, Jan 16- Brent futures edged higher on Friday, holding above $48 a barrel on positive technical price momentum, although few analysts expect a strong rebound anytime soon as global output continues to outweigh demand. "Therefore, we expect crude prices to trade range bound between $44.75- $50.69 for WTI Mar'15 and $46.4- 52.89 for Brent Mar' 15.".

  • HONG KONG, Jan 16- China's yuan snapped a five-day gaining streak against the dollar and posted its biggest intraday daily loss in more than a month on Friday, as investors squared positions to cope with their losses in Swiss Franc market following a shock move by the Swiss cental bank. The Swiss National Bank shocked financial markets on Thursday by scrapping a...

  • BEIJING, Jan 16- China stocks were mixed on Friday as financial and manufacturing shares lifted mainland markets while the Hong Kong bourse sank on information technology, finance and property losses. Shenzhen's Nasdaq-like ChiNext board- home to many IT and small cap companies- posted stronger gains than Shanghai, climbing 2.41 percent in morning trading.

  • SINGAPORE, Jan 16- Gold traded near its highest level in four months on Friday and looked set to post its best week in ten months, as investors sought safety from market volatility after Switzerland unexpectedly scrapped a cap on the franc. "Gold looks like the flavor of the month at the moment and has now pushed above some key downward trend lines against the dollar,"...