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  • CORRECTED-Russian rouble opens up against dollar Thursday, 8 Jan 2015 | 2:16 AM ET

    MOSCOW, Jan 8- The Russian rouble strengthened against the dollar at market opening on Thursday after a firming of the oil price, following heavy falls in the rouble on Monday and Tuesday.

  • LONDON, Jan 8- Britain's biggest grocer Tesco plans to sell assets and cut hundreds of millions of pounds of costs to fund lower prices in store as part of its plan to fight back from the biggest crisis in its 95- year-history. Seeking to recover from four profit warnings and an accounting scandal last year, Tesco unveiled its plan alongside a trading update...

  • LONDON, Jan 8- Marks& Spencer posted a worse than expected 5.8 percent drop in underlying sales of clothing, gifts and homeware in its Christmas quarter, exacerbated by online delivery problems. The performance was a fourteenth consecutive quarterly decline in general merchandise sales for the British retailer, far underperforming analyst expectations for...

  • The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 2.3 percent, to 3,559.26 points, while the Shanghai Composite Index lost 2.4 percent, to 3,293.46 points. Among the most active stocks in Shanghai were Bank Of China, down 4.6 percent to 4.33 yuan; China State Construction Engineering Co, down 6.2 percent to 6.66 yuan and Agricultural...

  • TOKYO, Jan 8- Japanese stocks posted their biggest rise in three weeks on Thursday after upbeat U.S. employment data and a rebound in oil prices eased investor concerns about the global economy. In its best day since Dec. 19, the Nikkei rose 1.7 percent to 17,167.10. The broader Topix added 1.3 percent to 1,377.67, and the JPX-Nikkei Index 400 gained 1.3 percent to...

  • TORONTO/ MONTREAL, Jan 8- A long-delayed proposal to outfit commercial airliners with ejectable "black box" recorders may have a better chance of being adopted following the AirAsia crash in the Java Sea, according to three sources at the U.N. global aviation body. "I think there's a more positive attitude now because of the last few accidents," he said in reference to...

  • NEW YORK, Jan 8- The best bond funds in 2014 posted returns of more than 40 percent betting on long U.S. Treasury bonds, a strategy that had scant support when the year began. In that case, long-dated maturity funds will struggle, said Josh Barrickman, head of Vanguard bond indexing Americas, who also helps manage the Vanguard Extended Duration Treasury Index Fund, the...

  • SINGAPORE, Jan 8- Brent crude extended gains on Thursday to hold above $51 a barrel, after an unexpected fall in U.S. crude stocks snapped a 4- session decline the previous day. Brent crude marked an intraday high of $51.91 a barrel and was at $51.30 by 0543 GMT, up 15 cents. But pressure on prices that have plunged more than half since June highs remains strong, with key...

  • A bill to give the White House fast-track power, allowing Congress a yes-or-no vote on trade deals in exchange for setting negotiating goals, did not advance in the last Congress but new legislation will be introduced in 2015.. "It's the start of the new Congress and we are up, up and away," said Democrat Rosa DeLauro, citing plans for speeches, letters and meetings, "the...

  • SHANGHAI, Jan 8- China stocks tumbled by midday Thursday, heading for its biggest one-day percentage drop in over two weeks, as profit-taking hit blue chips such as financials which have enjoyed a strong run recently. Furthermore, the momentum for blue-chips seems to have weakened because of shrinking turnovers, "said Du Changchun, an analyst at Northeast...

  • HONG KONG, Jan 8- After yuan deposits in Hong Kong saw lackluster growth for most of 2014, November brought a surprising jump. During November- the last month for which data is available- the Hong Kong- Shanghai stock connector program got under way, and China's central bank surprised markets with the country's first interest rate hike in more than two years.

  • HONG KONG, Jan 8- Chinese developer Kaisa Group Holdings could miss a $26 million coupon payment due on Thursday, possibly extending a sell-off in bonds from other highly indebted property firms. Investors are watching Shenzhen- based Kaisa, one of China's smaller listed property firms, with concern after it failed to repay HSBC a HK $400 million loan that became...

  • *Gold drops after 0.7 percent overnight decline. SINGAPORE, Jan 8- Gold added to overnight losses on Thursday as strength in the dollar and equities plus robust U.S. economic data reduced the metal's appeal as a hedge, triggering further outflows from the top bullion-backed fund. Gold had climbed to a three-week high of $1,222.40 earlier this week as global...

  • HONG KONG, Jan 8- Standard Chartered is closing the bulk of its global equities business and axing 4,000 retail banking jobs as Peter Sands moves to aggressively cut costs to reverse the Asia- focused bank's fortunes, according to a memo seen by Reuters. Sands, who had achieved a decade of record profits up until 2013, is now under pressure from shareholders to turn...

  • SHANGHAI, Jan 8- The Shanghai Stock Exchange banned individuals from investing in bonds privately issued by small and medium enterprises, the latest in a series of steps to tighten regulatory control of the high-yield, high-risk fixed income market. The SME bond market was launched in early 2012 in order to help develop China's wider bond market and to provide...

  • The forum, which also marked the first time China hosted the body, came at a time when Beijing is trying to step up its presence in the region as it clamours for more resources. Xi said in a speech that two-way trade between China and Latin America was estimated to rise to $500 billion within the next 10 years. "I believe that this meeting will achieve fruitful results,...

  • Oil halts 4-day drop, U.S. stockpile data supports Wednesday, 7 Jan 2015 | 10:00 PM ET

    SINGAPORE, Jan 8- Brent crude extended gains on Thursday to hold above $51 a barrel, after an unexpected fall in U.S. crude stocks snapped a 4- session decline the previous day. Brent crude marked an intraday high of $51.91 a barrel and was at $51.60 by 0253 GMT, up 45 cents. But pressure on prices that have plunged more than half since June highs remains strong, with key...

  • HONG KONG, Jan 8- Standard Chartered is closing its global equities business, according to an internal memo seen by Reuters on Thursday, as chief executive Peter Sands tries to reverse the bank's fortunes by cutting costs. A spokesman for Standard Chartered declined to comment. Standard Chartered launched its equities business in November 2008 when it...

  • BEIJING, Jan 8- Chinese President Xi Jinping said on Thursday that China's investments in Latin America will hit $250 billion in the next 10 years and two-way trade is estimated to rise to $500 billion during the same period.

  • HONG KONG, Jan 8- China's yuan weakened on Thursday after the central bank set the daily midpoint against the U.S. dollar at its weakest level in more than a month. The People's Bank of China set the midpoint rate at 6.1302 per dollar prior to market open, weaker than the previous fix 6.1269 and at its weakest level since Dec. 8. The spot market opened at 6.2170 per dollar...