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  • LONDON, Nov 28- British police officers were called to stores across the country on Friday as the "Black Friday" shopping frenzy imported from the United States brought surging crowds and fights over sharply discounted goods. Thanksgiving holiday, which falls on the fourth Thursday of November, is extravagantly promoted in the United States as the start of the...

  • JAKARTA, Nov 28- Indonesia's new government took its first steps to clean up a graft-tainted oil and gas industry on Friday, overhauling the management of state giant Pertamina and pledging major reforms of the company's energy trading division. Indonesia is looking to restore investor confidence in Southeast Asia's biggest crude producer after a series of...

  • BRASILIA, Nov 28- Brazil's economy pulled out of a brief recession in the third quarter due to a spike in public spending before presidential elections, suggesting growth could be short-lived as the government now plans to tighten policy. That stimulus is set to end in coming quarters as re-elected President Dilma Rousseff reins in spending to restore market...

  • *Saudi Arabia, OPEC have relinquished balancing role- SocGen. LONDON, Nov 28- Brent crude oil steadied below $73 a barrel on Friday after hitting a fresh four-year low in the wake of OPEC's decision not to cut output, a move investors said would leave oil markets heavily oversupplied. Saudi Arabia blocked calls on Thursday from poorer members of the Organization of...

  • LONDON, Nov 28- A currency-rigging scandal and an intensifying squeeze on their fees are driving fund managers to scrutinise how much they pay for the foreign exchange they need to buy overseas assets. Consultancy New Change FX reckons that in a typical UK pension fund with half its money invested abroad and two-thirds of that FX exposure hedged, currencies...

  • FRANKFURT, Nov 28- German European Central Bank policymaker Jens Weidmann said on Friday it was illusory to think central banks could increase a country's growth potential for a sustained period of time. The comments from Weidmann, chief of Germany's Bundesbank and arch-hawk on the ECB's policymaking Governing Council, came after the ECB's vice president...

  • According to industry and government sources, and letters reviewed by Reuters, Essar has asked the Indian government to free it from paying its share of oil dues to Iran, and instead offset them against a $2.5 billion deal to supply steel plate to a NIOC affiliate. The back-to-back scheme comes to light at a critical stage in talks between Iran and six world powers...

  • LONDON, Nov 28- Euro zone banks that failed or barely passed this year's health checks will have to demonstrate they can make sustainable profits and may need to sell off loss-making units, the European Central Bank's top banking supervisor said. "Partly because of the financial situation in Europe and partly because of the structure of the banking systems in...

  • *Brent Crude rallies off 4 year low, but set for 15 pct Nov drop. LONDON, Nov 28- Brent crude fell to a fresh four-year low on Friday, sending oil-related shares and currencies lower, after OPEC decided to refrain from cutting output despite a supply glut. Brent crude touched a low of $71.12 a barrel after settling at a four-year closing low on Thursday, when Saudi Arabia...

  • LONDON, Nov 28- The oil price collapse pushed Russia's rouble to new record lows near the 50 per dollar mark on Friday, while currencies in energy producers from Nigeria to Malaysia hit multi-year or all-time lows. Brent crude has fallen below $72 a barrel after the OPEC club on Thursday decided against production cuts, broadening the divide between...

  • Malaysia Airlines apologizes for tweet, posts loss Friday, 28 Nov 2014 | 6:11 AM ET

    KUALA LUMPUR, Malaysia— Malaysia Airlines on Friday said its loss widened last quarter and apologized for a promotional tweet slammed as insensitive after two deadly passenger jet disasters this year. The airline's business has suffered after a Malaysia Airlines jet with 239 people on board, mostly from China, went missing March 8 while en route to Beijing.

  • BRASILIA, Nov 28- Brazil's economy grew 0.1 percent in the third quarter from the previous quarter and pulled out of a brief recession, government agency IBGE said on Friday.

  • *Inflation 0.3 pct in Nov vs 0.4 pct in Oct. BRUSSELS, Nov 28- Annual inflation in the euro zone cooled to 0.3 percent in November as energy prices fell, suggesting deflation remains a real threat for the European Central Bank. The ECB is buying covered bonds and asset-backed securities and despite German resistance may decide as soon as the first quarter of next...

  • ATHENS, Nov 28- At Greek home appliance retail chain Electroniki, a washing machine cost 497 euros six years ago. Greece has muddled through 20 consecutive months of deflation, or continuously falling consumer prices- a phenomenon that economists say could soon infect the whole euro zone. Yet alarm over low inflation in other parts of southern Europe does not...

  • The reason explains why efforts to resuscitate Italy's moribund economy are failing. Italy is stuck in a rut of diminishing expectations. This summer, consumer prices in Italy fell on a year-on-year basis for the first time in a half-century, and they have barely picked up since.

  • Swiss to vote on massive gold-buying plan Friday, 28 Nov 2014 | 5:46 AM ET

    GENEVA— In Switzerland, a campaign is on to protect the country's wealth by investing in gold— a lot of gold. If the initiative wins the backing of a majority of voters this Sunday, the Swiss National Bank would also be prohibited from spending any of the treasure, which would have to be locked away in vaults entirely on Swiss soil. Jacques Mayor, a Geneva accountant,...

  • UK's Cameron to curb benefits for immigrants Friday, 28 Nov 2014 | 5:45 AM ET

    LONDON— Migrants from Europe will have to leave Britain if they don't get a job within six months, and must work for four years before receiving some benefits, Prime Minister David Cameron announced Friday, in a carefully balanced speech designed to defuse domestic criticism of his immigration policies while averting a showdown with the European Union.

  • PRECIOUS-Gold falls for a third day after oil drop Friday, 28 Nov 2014 | 5:43 AM ET

    LONDON, Nov 28- Gold fell on Friday on the back of a slump in oil prices, with strength in the dollar piling further pressure on the metal ahead of a referendum on the management of Swiss bullion reserves this weekend. Oil prices posted their sharpest losses since 2011 on Thursday after OPEC refrained from cutting its output following a more than 30 percent plunge...

  • *Copper down for fifth straight session. LONDON, Nov 28- Copper fell to a eight-month low on Friday, pressured by a stronger dollar and selling across metals and commodity markets following steep falls in oil prices. Brent crude fell to a fresh four-year low under $72 a barrel after OPEC decided not to cut output on Thursday, sending related shares and currencies...

  • Black Friday problems hit Britain Friday, 28 Nov 2014 | 5:17 AM ET

    LONDON— Americans celebrating Thanksgiving in Britain may have felt right at home as Black Friday shopping chaos caused disruptions. Greater Manchester Police Chief Peter Fahy said he was "disappointed" that stores did not have enough security personnel on duty for the after-hours shopping. Greater Manchester Police said two arrests were made and injuries...