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  • LONDON, Feb 12- Oil prices jumped on Friday on hopes of a coordinated production cut sparked by comments from the energy minister of OPEC member United Arab Emirates. Brent gained as much as 6 percent against its previous settlement and was up 4.9 percent at $31.53 per barrel at 0938 GMT. "The comments by the UAE oil minister are pushing prices up... but we're still in a...

  • *Final dividend 7.1 pence a share, first cut since 1992. LONDON, Feb 12- Rolls-Royce halved its final dividend to shore up its finances on Friday, the first cut for 24 years, after annual profit fell 16 percent and the company warned of continued tough trading in its civil aerospace and marine engine businesses. The British company said it would pay shareholders a...

  • HONG KONG, Feb 12- A near 7 percent slump in China shares listed in Hong Kong this week and meltdown in financial markets globally is putting investors on edge ahead of the reopening of mainland China markets on Monday after the long Lunar New Year holiday. Investors will be watching China's official yuan fixing for any signs that it may be allowing the currency to...

  • MILAN, Feb 12- A plunge in oil prices and little sign of recovery anytime soon have left Italian oil contractor Saipem ill-prepared to cope with life independent from former parent Eni, even after a 3.5 billion euro fundraising. Saipem said on Thursday shareholders had signed up to 87.8 percent of the offering, worth 3.073 billion euros, leaving the underwriters...

  • COPENHAGEN, Feb 12- Shares in GN Store Nord, the Danish hearing aid and headset maker, jumped more than 10 percent on Friday after fourth-quarter results met forecasts, following problems in previous months. The company reported quarterly earnings before interest, tax and amortisation of 522 million Danish crowns, compared with analysts' average forecast of...

  • *FTSEurofirst 300 up 2 pct. LONDON, Feb 12- European shares rebounded strongly from the previous session's steep losses on Friday, with positive results from Commerzbank and a rally in oil prices helping banks and commodity-related stocks to regain ground. There's so much nervousness in the market at the moment that even slightly good news out of a bank like...

  • LONDON, Feb 12- The yen was firm on Friday, on track for its biggest weekly rise against the dollar since late 2008, as deepening worries about global growth and whether policymakers have enough ammunition to respond to it underpinned flows into safe-haven currencies. Japanese officials stepped up their attempts to talk the yen down, with Finance Minister Taro...

  • Consumers in China and India tend to typically buy gold in jewellery form, swooping in to hunt bargains or if they are confident of a sustained rally. A lack of interest from China and India- which together account for about 45 percent of world gold demand- could put a dent on the metal's biggest rally in years, though panic buying of gold coins and bars led by Western...

  • LONDON, Feb 12- British luxury fashion brand Burberry is to face a class action lawsuit in the United States, claiming it used misleading price tags at its outlets stores to fool shoppers into believing they were getting big bargains. The company, which specifically manufactures some of the products for its outlet stores, is accused of intentionally presenting...

  • LONDON, Feb 12- Britain's competition body said on Friday it had fined GlaxoSmithKline 37.6 million pounds for market abuse in striking deals to delay the launch of cheap generic copies of its antidepressant Seroxat. Generic drug companies involved, including Germany's Merck KGaA, were also fined smaller amounts, bringing the total penalties to 45 million...

  • LONDON, Feb 12- European rose on Friday, rebounding from the previous session's steep losses, with encouraging results from Commerzbank and a rally in oil prices helping banks and commodity-related stocks to regain ground. The pan-European FTSEurofirst 300 was up 1.4 percent at 1,212.47, having closed down 3.7 percent on Thursday, when a slump in banks and...

  • TOKYO, Feb 12- Japan's leading indicator of capital spending probably rebounded only modestly in December and exports likely dropped in January at its fastest pace in almost five years, a Reuters poll showed, indicating the pace of recovery may be slower than expected. This would result in a trade deficit of 680.2 billion yen after a 140 billion yen surplus in...

  • *German GDP expanded by 0.3 pct q/q in Q4 2015. BERLIN, Feb 12- Germany posted steady economic growth in the final quarter of 2015, as higher state spending boosted by the refugee crisis and significantly more construction offset a drag from foreign trade, the Federal Statistics Office said on Friday. "Slow but steady was the retrospective motto for 2015," said VP...

  • *Could go to $1,300 if stocks don't stop falling- Standard Bank. SINGAPORE, Feb 12- Gold on Friday clung to sharp overnight gains that pushed the metal to a one-year high, and looked set to post its best week in over four years as stock market turmoil stoked safe-haven demand. Spot gold rose to as high as $1,260.60 an ounce on Thursday, its highest since February last...

  • LONDON, Feb 12- Britain's competition body said on Friday it had fined GlaxoSmithKline 37.6 million pounds for market abuse in striking deals to delay the launch of generic copies of its antidepressant Seroxat. GSK said it strongly disagreed and argued its actions had actually brought down the cost of medicine for the state-run health service.

  • WITHAM, England, Feb 12- Striding through a housing estate in the drizzle to hand out leaflets, 52- year-old builder Kevin Lovett throws up his arms in despair as he rails against the deceit he sees at the heart of the European Union. Pitching their dream of a proud Britain breaking free from a German-dominated bloc, the "Out" campaigners cast leading pro-Europeans...

  • *Tokyo volume highest since August. *When USD falls 1 yen, it pushes Nikkei down 400 pts- Nomura. TOKYO, Feb 12- Japan's Nikkei share average stumbled to a fresh 16- month low in heavy trade on Friday, and posted the biggest weekly drop since 2008 as investors scrambled to dump risky assets after the dollar dived to a 15- month low against the yen.

  • SINGAPORE, Feb 12- Oil prices jumped almost 5 percent on Friday after comments by the energy minister of OPEC- member United Arab Emirates sparked hopes of a coordinated production cut, yet analysts said such a move remained unlikely and that oversupply would persist. Friday's jump in Brent came after the United Arab Emirates energy minister Suhail bin...

  • WASHINGTON, Feb 12- The Federal Reserve's carefully scripted decision to raise interest rates last December, and begin a return to "normal" policy, may now become a nightmare for the U.S. central bank if an economic downturn forces a return to unconventional methods. We previously studied them and decided they would not work well, "Yellen told the U.S. Senate Banking...

  • Feb 12- Some 38 percent of U.S. multinationals, universities and non-profits surveyed by an arm of the State Department are allowing female employees to defer travel or leave countries where the Zika virus has been reported. The State Department's Overseas Security Advisory Council, which has a membership of more than 3,500 U.S. companies and institutions...