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  • LONDON, Jan 8- Some of the world's largest oil traders have this week hired supertankers to store crude at sea, marking a milestone in the build-up of the global glut. The price of Brent crude is now around $8 a barrel higher for delivery at the end of 2015, with its premium rising sharply over spot prices this week due to forecasts for a large surplus in the first half...

  • WASHINGTON, Jan 8- U.S. Senate Republicans were poised to move ahead on Thursday with a bill to approve construction of the Keystone XL oil pipeline, their top priority in a new campaign to roll back President Barack Obama's policies. Obama has threatened to veto the measure, setting up an early battle over the TransCanada Corp project that would link Canadian oil...

  • NEW YORK, Jan 8- U.S. Treasury debt prices declined on Thursday as Wall Street rallied and oil prices steadied, on growing confidence European policymakers will launch a bond-buying program to combat slowing economic growth. Treasury prices dropped in early overseas trading, as stocks in Japan and Europe rose, and the rally continued on Wall Street, where the S&P...

  • BUZZ-YAHOO INC, AOL INC: STARBOARD KEEPS UP PRESSURE TO MERGE@** Yahoo's shares up 2.4 pct at $49.74; AOL's. **Starboard LP writes to Yahoo CEO Marissa Mayer, saying company should explore combination with AOL and cut costs to improve profits. **Up to Wednesday's close, AOL's stock had risen 7.3 pct and Yahoo's stock had risen 24.7 pct since Starboard delivered its...

  • *Ukraine facing $15 billion funding gap, economists say. RIGA/ BERLIN, Jan 8- The European Union proposed on Thursday offering an additional 1.8 billion euros to help save Ukraine from bankruptcy as Kiev assured Germany it had credible plans to modernise. "Europe stands united behind Ukraine," Commission President Jean-Claude Juncker told a news conference in...

  • Jan 8- Replenished grain supplies following a bumper North American harvest bolstered global commodities trader Cargill Inc's bottom line in its latest quarter as lower prices lifted demand for crops and padded margins on meat sales. Privately-held Cargill, based in Minnesota, reported net earnings of $784 million for the second quarter ended Nov. 30, up 41...

  • LONDON, Jan 8- Gold reversed losses to edge higher on Thursday as expectations that the Federal Reserve would exercise patience in raising interest rates left U.S. bond yields flat, though a stronger dollar and rising stock markets limited the gains. Gold, which has no yield, tends to suffer in a rising interest rate environment. "The fact that we kicked off the year...

  • BERLIN, Jan 8- German Chancellor Angela Merkel said on Thursday that Europe could not consider lifting sanctions against Russia until all elements of a 12- point peace agreement signed in September between Ukraine and pro-Russian rebels were fully implemented. And she placed a high bar for easing a second round of punitive EU measures tied to Russia's...

  • DETROIT, Jan 8- General Motors Co Chief Executive Officer Mary Barra said she expected the U.S. auto market to flatten out this year, although growth is possible because of the strong economy and falling gasoline prices. The United States' importance has increased as demand has weakened in China, the world's largest auto market, and slumped in other key European,...

  • European shares rally on "patient" Fed, Tesco Thursday, 8 Jan 2015 | 10:33 AM ET

    Jan 8- European shares rose on Thursday as a strong Christmas update from Britain's Tesco boosted retailers and U.S. The FTSEurofirst 300 index of top European shares was up 2.5 percent at 1,363.07 points by 1516 GMT. "Four Christmases and four profit warnings later, it seems Tesco has turned the corner," Manish Singh, head of investment services at Crossbridge...

  • Jan 8- Teen apparel retailers American Eagle Outfitters Inc and Aeropostale Inc said business in the holiday shopping quarter was better than they had expected as margins improved due to fewer discounts. Aeropostale said it still expected to report a quarterly loss, but less than it had forecast. Aeropostale's shares were up 19 percent at $2.69 in early...

  • Arrested RBS forex trader named as Paul Nash -sources Thursday, 8 Jan 2015 | 10:21 AM ET

    LONDON, Jan 8- Royal Bank of Scotland currency trader Paul Nash has become the first individual arrested in connection with a global inquiry into alleged manipulation in the foreign exchange market, sources familiar with the matter said on Thursday. Nash emigrated to Canada on Christmas Day and has rented out his family home, the source said.

  • Brazil is one of the world's five biggest auto markets and a major base of operations for Fiat Chrysler Automobiles, Germany's Volkswagen and U.S.-based General Motors Co and Ford Motor Co.. The prospect of another weak year for Brazil's auto industry is adding to headaches for President Dilma Rousseff as she struggles to get Brazil's economy growing again...

  • *China dealers seek 5.1 bln yuan in compensation from BMW. *Audi to pay 2 bln yuan in subsidies to dealers- sources Mercedes paid China dealers about 1 bln yuan- sources. Spearheading the backlash is the China Automobile Dealers Association, a dealer trade body which earlier this week went public with an announcement that it had persuaded German automaker BMW to...

  • OPEC decided against limiting production at its last meeting on Nov 27, despite misgivings from non-Gulf members, after Saudi Oil Minister Ali al-Naimi said the group needed to defend market share against U.S. shale oil and other competing sources. OPEC has forecast an increasing surplus in 2015, citing rising supplies outside the group and lackluster...

  • StanChart's "snap" decision nearly a year in the making Thursday, 8 Jan 2015 | 10:02 AM ET

    HONG KONG/ SINGAPORE, Jan 8- Standard Chartered CEO Peter Sands's decision to cut the bank's loss-making equities business was almost a year in the making, despite the shock Thursday's announcement caused among staff in the division, according to sources at the bank and recruiters. On Thursday morning, employees in Hong Kong arrived at the financial hub's IFC 2...

  • *Family Dollar slips after earnings. *Brent crude holds above $51 a barrel. "Jobless claims they were about in line, maybe a little weaker than expected but the jobs market still points to jobs growth," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.

  • Starboard reiterates Yahoo should combine with AOL Thursday, 8 Jan 2015 | 9:48 AM ET

    Jan 8- Yahoo Inc shareholder Starboard Value LP reiterated that the company should explore a combination with AOL Inc and cut costs to improve profits. Yahoo's number one priority must be to monetize its investments in Alibaba Group Holding Ltd and Yahoo Japan Corp, the activist investor wrote in a letter to Yahoo's board on Thursday. Starboard, which first...

  • NEW YORK, Jan 8- The U.S. weather forecaster on Thursday projected a 50 percent to 60 percent chance of El Nino conditions during over the next two months, compared with the 65- percent chance it predicted for the Northern Hemisphere winter in December. The Climate Prediction Center, part of the National Weather Service, said in a monthly report that the agency...

  • Jan 8- U.S. stocks opened higher on Thursday, putting equities on track for a second day of gains after the S&P 500 snapped a five-day losing skid and data pointed to a labor market that continues to strengthen.