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  • Weaker oil stocks hit European equities, UBS drops Tuesday, 10 Feb 2015 | 4:44 AM ET

    LONDON, Feb 10- European shares fell for a second day on Tuesday, with energy stocks hurt most after crude prices slid again on concerns about oil demand in China. "It's difficult to see a big recovery in oil prices in the near term as the upside is limited in the current environment because of the huge supply glut," Peter Dixon, equity strategist at Commerzbank, said,...

  • ISTANBUL, Feb 10- Regulatory and financial reforms have helped diminish the risk Greece may pose to the euro zone, Canada's finance minister said on Tuesday, amidst growing concern about Athens' determination to ease austerity measures. "The United States is doing well, the UK, Canada, Australia, but generally global growth is disappointing, and there are some...

  • JOHANNESBURG, Feb 10- South Africa's Kumba Iron Ore plans to cut jobs, production costs and capital spending to cope with expected weak prices of the commodity this year, it said on Tuesday, after reporting a fall in 2014 earnings. The Anglo American subsidiary, whose shares fell around 3 percent in early trading, said crude steel production was forecast to recover...

  • *Media reports say HSBC helped wealthy dodge taxes. LONDON/ ZURICH/ WASHINGTON, Feb 10- HSBC Holdings Plc faces investigation by U.S. authorities and an inquiry by British lawmakers after admitting failings by its Swiss private bank that may have allowed some customers to dodge taxes. U.S. prosecutors have stepped up efforts to establish whether HSBC, the world's...

  • PARIS, Feb 10- French tyre maker Michelin will look for an extra 200 million euros in cost savings after cut-price competition hit profits more than expected last year. At 0845 GMT, Michelin's shares were down 4.1 percent at 82.82 euros, after what Citi analyst Philip Watkins described as "a somewhat lacklustre set of 2014 results". Michelin said net income fell 8.5...

  • More oil price pressure may be ahead - IEA Tuesday, 10 Feb 2015 | 4:00 AM ET

    SINGAPORE, Feb 10- Oil prices may come under more downward pressure before recovering later this year as ample supplies push inventories higher, perhaps towards record highs, the West's energy watchdog said on Tuesday. The International Energy Agency said in its monthly report that supplies remained abundant and that it would take time for investment cuts to...

  • Feb 10- The U.S. Department of Justice is pushing some big banks to plead guilty to criminal charges that they manipulated the prices of foreign currencies, the New York Times reported, citing lawyers briefed on the matter. In the final stages of a long-running investigation into corruption in the world's largest financial market, federal prosecutors have...

  • NEW DELHI, Feb 10- Revisions to India's economic output data mean that Finance Minister Arun Jaitley's upcoming budget should assume that the economy will grow by at least 8 percent in the 2015/ 16 fiscal year, a government source told Reuters on Tuesday. India has changed the way it measures economic activity to conform with international standards, resulting...

  • *China stimulus hopes boost commodity-dependent currencies. LONDON, Feb 10- Commodity price-dependent currencies such as the Australian dollar and Norwegian crown were the main movers on major foreign exchange markets on Tuesday, gaining up to a third of a percent on talk of more economic stimulus in China. Investors were keeping a close eye on the situation...

  • LONDON, Feb 10- European shares edged down early on Tuesday, with Hugo Boss leading the market lower after private equity firm Permira placed a tranche of its shares. German fashion group Hugo Boss fell 4.6 percent, the top decliner in the pan-European FTSEurofirst 300 index, after Permira placed shares at 102 euros each. Permira, Hugo Boss's largest shareholder,...

  • TBILISI, Feb 10- Georgia's central bank will raise base interest rates on Wednesday, its chief said, launching what could be a cycle of monetary tightening to preserve financial stability, control inflation and support the ailing lari currency. The former Soviet state's economy is suffering side effects from a plunge in Russia's rouble and the conflict in...

  • CENTRAL BANK CHIEF SAYS WILL ONLY INTERVENE TO SUPPORT LARI CURRENCY IF NECESSARY TO' EASE SHOCKS TO ECONOMY'.

  • GEORGIAN CENTRAL BANK WILL RAISE REFINANCING RATE FROM 4 PERCENT ON WEDNESDAY TO COUNTER INFLATIONARY PRESSURE- BANK CHIEF KADAGIDZE.

  • CENTRAL BANK CHIEF SAYS GEORGIA'S FINANCIAL STABILITY NOT UNDER THREAT, SEES INFLATION RISING TO 5 PERCENT IN SECOND HALF OF YEAR.

  • GEORGIAN CENTRAL BANK CHIEF SUGGESTS RATE HIKE COULD BE FIRST IN A' STEP-BY-STEP' SERIES.

  • HONG KONG, Feb 10- Hong Kong shares erased earlier losses and ended flat on Tuesday, as rebounding mainland stocks eased worries stemming from overnight weakness in global equity markets. The Hang Seng index was unchanged at 24,528.10, while the China Enterprises Index gained 0.4 percent, to 11,695.26 points. Among the most actively traded stocks on Hong Kong's...

  • SEOUL, Feb 10- As Samsung Electronics Co Ltd sells fewer of its own smartphones, the South Korean group's components businesses are under pressure to pick up the slack and secure external customers for chips and display panels, including putting these in rival mobile devices. Samsung Display has begun supplying organic light-emitting diode panels to Chinese...

  • SEOUL, Feb 10- South Korea's new law compelling big companies to part with "excess" cash or be taxed on it is prompting traditionally tight-fisted Korea Inc to boost dividend payouts. Last year, South Korea announced plans to tax excessive corporate cash, a move aimed at getting companies to spend more on dividends, wages and investment. Big companies such as...

  • MOSCOW, Feb 10- Russian assets opened higher for a second straight session on Tuesday on hopes for a political solution to the Ukraine crisis, despite a new fall in oil prices. The leaders of Russia, Ukraine, Germany and France have agreed to meet in Belarus on Wednesday to try to broker a peace deal for Ukraine, days after talks in Moscow involving the French, German...

  • PARIS, Feb 10- Matthieu Pigasse, head of investment bank Lazard in Paris which is advising the Greek government on its debt restructuring, said on Tuesday the troika imposing austerity on Greece was totally mistaken and had driven the country's economy into a wall. "I think that the policies conducted by the troika are mistaken and have driven Greece into a wall...