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  • *Andrew Higginson to become chairman on Jan. 22. LONDON, Jan 13- The intense pressure in Britain's supermarket sector claimed its first scalp of the year on Tuesday with the departure of Morrisons chief executive Dalton Philips following a plunge in Christmas sales from Britain's No. 4 grocer. The firm, which has been slow to expand into stronger parts of the market...

  • SHANGHAI, Jan 13- Saudi Arabia and Tajikistan will join 24 other nations as founding members of the Asian Infrastructure Investment Bank, China's Ministry of Finance said on Tuesday. The entry, which China said was approved unanimously by the other founding members of the China- backed multilateral lender, brings the total number of founder nations intending...

  • *Energy shares hit but Alcoa cites low energy costs. LONDON, Jan 13- Oil prices slid on Tuesday to their lowest in almost six years, depressing energy shares but cheering those investors who focused on stocks seen as likely to benefit from cheaper fuel costs. "Investors are bracing for some serious damage in the energy sector's fourth-quarter earnings, and with oil...

  • ABU DHABI, Jan 13- OPEC will not cut its oil output to support prices but expects higher-cost producers to do so, the United Arab Emirates energy minister insisted on Tuesday as oil plunged near six-year lows. By not reducing output, "we are telling the market and other producers that they need to be rational and like OPEC, they need to look at growth in the...

  • European shares inch up, led by Metro Tuesday, 13 Jan 2015 | 4:15 AM ET

    PARIS, Jan 13- European stocks inched up in early trade on Tuesday, with Germany's Metro rallying after the retailer reported strong Christmas sales at some of its core units. Total was down 1.9 percent and Royal Dutch Shell down 1.5 percent as Brent futures tumbled to $45.43 a barrel, down 4.2 percent despite China reporting record crude imports.

  • BERLIN, Jan 13- Germany has balanced the federal budget for the first time in almost half a century, helped by robust tax revenues and rock-bottom interest rates, the finance ministry said on Tuesday. It was the first time since 1969 that Germany achieved the feat and is a boon for Chancellor Angela Merkel's government, which wrote the goal into a coalition...

  • LONDON, Jan 13- British online fashion retailer ASOS ended a difficult 2014 on a high, with strong demand at home lifting its retail sales over the Christmas period and boosting its shares. ASOS, which lost almost two thirds of its market value last year because of a warehouse fire and three profit warnings, said retail sales in the six weeks to Jan. 9 were up 15 percent,...

  • *Focus on UK inflation, downside risk to sterling. In Europe, the focus will be on the pound ahead of UK inflation data. A drop below one percent would require BoE Governor Mark Carney to write an explanatory letter to Britain's finance minister and would boost expectations that the bank will wait until the second quarter of 2016 before raising interest rates.

  • *Some owners of IDH to float up to 45 pct in London. DUBAI, Jan 13- Integrated Diagnostics Holdings, a healthcare diagnostics service provider with operations in Egypt, Jordan and Sudan, has announced plans to list its shares on the London stock exchange. It is the latest firm in recent years from the Middle East to choose the UK bourse for a flotation, avoiding more...

  • BEIJING, Jan 13- China imported record levels of crude oil, iron ore and soybeans in December as the country took advantage of cheap global prices to boost shipments, despite faltering demand growth at home. "The surge in imports was largely due to the sharp drop in prices, which encouraged opportunistic restocking," said Nelson Wang, an energy analyst at CLSA...

  • DUBAI, Jan 13- Iranian President Hassan Rouhani said on Tuesday that countries behind the fall in global oil prices would regret their decision and warned that Saudi Arabia and Kuwait would suffer alongside Iran from the price drop. "Those that have planned to decrease the prices against other countries, will regret this decision," Rouhani said in a speech...

  • *Q1 sales 18.3 billion euros vs forecast 18.2 billion. BERLIN, Jan 13- Metro AG, Europe's fourth-biggest retailer, saw a recovery gain pace at three of its four businesses in the important Christmas quarter, with growth in consumer electronics the strongest since 2006, boosting its shares. Stripping out the impact of the disposal of hypermarkets in eastern...

  • ROUHANI SAYS IF IRAN HURTS DUE TO OIL PRICES OTHER PRODUCERS WILL ALSO SUFFER, INCLUDING SAUDI ARABIA AND KUWAIT.

  • MOSCOW, Jan 13- Russia's Finance Ministry sold $1.3 billion in forex market interventions, the central bank said on Tuesday, citing its accounts on Jan. 12. The Jan. 12 accounts included operations made on Dec. 30 and on Jan. 5, 6, 8 and 9, the bank's press service said. It did not specify the volume of sales for each day and it was not clear over which days the Finance...

  • BERLIN/ MOSCOW, Jan 13- Germany, Russia, Ukraine and France have decided not to hold a summit on the conflict in Ukraine on Thursday because of a lack of progress in implementing a four-month-old ceasefire agreement. Lavrov said there would be another meeting of the so-called Contact Group- Russia, Ukraine, Europe's OSCE security watchdog and pro-Russian rebels-...

  • IRAN'S ROUHANI SAYS COUNTRIES THAT PLANNED TO DECREASE OIL PRICES WILL REGRET DECISION.

  • MELBOURNE, Jan 13- Overcapacity in China's beleaguered aluminium market will persist in coming months, weighing on local prices and boosting the appeal of shipping aluminium products overseas, traders and analysts said. "We certainly expect low prices to continue," said Paul Adkins, managing director of Beijing- based consultancy AZ- China.

  • European shares fall as oil slump hits energy stocks Tuesday, 13 Jan 2015 | 3:11 AM ET

    PARIS, Jan 13- European stocks fell in early trading on Tuesday, with the relentless drop in oil prices fuelling worries over the prospect for corporate profits in the energy sector. At 0803 GMT, the FTSEurofirst 300 index of top European shares was down 0.5 percent at 1,351.67 points. Total was down 1.9 percent and Royal Dutch Shell down 1.5 percent, as Brent...

  • Jan 13- Hong Kong shares rose for the fifth consecutive day on Tuesday, helped by inflows from investors who like the plan by Asia's richest man, Li Ka- shing, to split his conglomerate into two listed companies. Among the most actively traded stocks on Hong Kong's main board were CASH Financial Services Group Ltd, up 10.3 percent at HK $0.32, Kong Sun Holdings Ltd,...

  • *China copper imports at 420,000 T, flat from November. *China boosts aluminium products exports. MELBOURNE, Jan 13- London copper tumbled below the $6,000- mark on Tuesday to a fresh five-year low, as further falls in oil markets spurred selling by hedge funds in China, despite benign trade data from the top metals user, with more liquidation expected in the near term.