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  • BERLIN, Dec 16- Germany is ready to be "extremely helpful" to British Prime Minister David Cameron in his renegotiation of Britain's membership of the European Union, a senior German government official said on Wednesday. "The German government has a very great interest that Great Britain remains a member of the EU and in allowing Cameron to run a successful...

  • *EU, U.S. imposed sanctions on Russia in July 2014 over Ukraine. BRUSSELS, Dec 15- The European Union is set to agree a six-month extension of its economic sanctions on Russia on Friday, once Italy's prime minister has discussed the issue with his fellow leaders at a summit in Brussels, diplomats said on Tuesday. Italy's unexpected call for further discussion had...

  • BRUSSELS, Dec 15- The European Union agreed on a sweeping overhaul of fragmented data protection laws on Tuesday that will force companies to report data breaches and face huge fines for misusing personal data. The new law enables EU national authorities to levy fines of up to 4 percent of revenues on firms breaking the law, which could mean billions of dollars...

  • LONDON, Dec 15- The European Banking Authority gave banks in the European Union more flexibility than anticipated in how to manage their exposure to shadow banking, in final guidelines published on Tuesday, and delayed the start date by a year to 2017.. Regulators worry that risks will shift from mainstream lenders to the more opaque "shadow banks" like money...

  • CAIRO, Dec 15- The African Development Bank has approved a $1.5 billion loan to Egypt to be paid out over three years, International Cooperation Minister Sahar Nasr told Reuters on Tuesday. Egypt expects to receive an additional $1 billion from the World Bank by the end of the year to support the budget and could discuss potential IMF financing once parliament...

  • BRUSSELS, Dec 15- A plan to set up a euro zone insurance for bank deposits is the key priority of the European Union to boost the bloc's economy, top EU officials said on Tuesday, pushing for a deal that has been fiercely opposed by Germany. A common bank supervisor and a bank resolution fund have already been established but the third pillar of the project, the...

  • GENEVA/ DUBAI, Dec 15- A ceasefire took effect in Yemen on Tuesday as parties to the civil war started United Nations- sponsored peace talks in Switzerland in a new push to end months of fighting that have killed nearly 6,000 people, a U.N. spokesman said. Fighting raged across Yemen ahead of the truce which began at 1200 local time, with residents in the northern part...

  • *OPEC doesn't have a target price, looking for fair rate. NEW DELHI, Dec 15- Global crude oil prices at seven-year lows will not continue and could swing upwards in as little as a year, OPEC Secretary-General Abdullah al-Badri said on Tuesday, as the low-price cycle leads to cuts in output from some producers. He said OPEC does not have a target price but was looking for...

  • Brent crude, the global benchmark, traded up 40 cents, or 1 percent, at $38.32 a barrel at 0913 GMT, levels last seen in late 2008. U.S. crude was trading at $36.49, up 18 cents. It's pretty obvious shorts started to take profit when Brent prices dropped down to the 2008 low, "said Tamas Varga, oil analyst at London- based PVM Associates. With OPEC pumping strongly and U.S....

  • TOKYO, Dec 15- U.S. crude oil prices fell in early Asian trade, resuming their decline after strong gains on Monday snapped a six-day losing streak, on concerns about a global glut and mild winter demand. Bearish sentiment remains strong, fueled by an OPEC decision earlier in December to abandon setting a production ceiling for the oil cartel and a likely rise in...

  • BRUSSELS, Dec 14- A sweeping reform of fragmented laws governing the uses of personal data set to be agreed by the European Union on Tuesday will force companies to report privacy breaches to authorities or face stiff sanctions. The problem has been highlighted by Facebook's spat with the Belgian Privacy Commission, which sued the company even though Facebook...

  • BRUSSELS, Dec 14- New European targets on cutting emissions to align with the Paris climate deal will be the work of the European Commission that takes office in 2019, Europe's climate chief said on Monday. As its contribution to the U.N. quest to limit global warming, the European Union has agreed to reduce its greenhouse gas emissions by at least 40 percent by...

  • *New supply expected by early 2016 as Iran boosts output. NEW YORK, Dec 14- Crude oil extended its slide on Monday, but steadied after moving within a hair of 11- year lows, on mounting fears that the global supply glut would only worsen amid the price war between leading OPEC and non- OPEC producers. "The energy complex is showing no semblance of support at the start of...

  • *Dupont, Dow Chemical fall after deal to merge. *Trina Solar surges after go-private proposal. The S&P energy sector was down 0.95 percent on Monday, with crude staying firmly below $40 a barrel, amid mounting fears of a worsening supply glut as OPEC and non- OPEC producers war over prices.

  • BRUSSELS, Dec 14- The omission of aviation from the Paris climate deal could cause "a very big problem" if talks next year fail to make progress on a global plan to reduce aircraft pollution, the European climate chief said on Monday. Under threat of a trade war with China, India and others, the European Union had to suspend part of a law, meant to apply from 2012, that...

  • *New supply expected early 2016 as Iran boosts output. LONDON, Dec 14- Oil prices tumbled 4 percent on Monday, coming close to their 11- year low, on growing fears that the global oil glut would worsen in the months to come in a pricing war between leading OPEC and non- OPEC producers. "Oil is coming under pressure as the lack of OPEC cuts mean incessant oversupply...

  • *New supply to hit markets early 2016 as Iran boosts output. LONDON, Dec 14- Oil prices fell for a seventh straight session on Monday, coming close to 11- year lows, on growing fears that the global oil glut would worsen in the months to come in a pricing war between leading OPEC and non- OPEC producers. "Oil is coming under pressure as the lack of OPEC cuts mean incessant...

  • LONDON, Dec 14- European Union regulators have proposed U.S.-style flexibility in how rules making derivatives safer are applied in a bid to reach a long-delayed transatlantic deal on supervising the $552 trillion sector. The 28- country bloc and the United States are locked in negotiations over recognising each other's rules for trading derivatives such...

  • Russia says no OPEC meeting in mid-December Monday, 14 Dec 2015 | 4:00 AM ET

    MOSCOW, Dec 14- Russia on Monday poured cold water on prospects for a meeting with the OPEC oil cartel this month, despite oil prices plunging below $40 per barrel. Russia, which had initially signaled its willingness to closely cooperate with OPEC, did not send a senior delegation to Vienna prior to the Dec. 4 OPEC meeting, as it did last year. Only Deputy Energy...

  • Brent crude fell below $38 a barrel for the first time since December 2008 on Friday after the IEA said demand growth was slowing while OPEC output remained high. Front month WTI was down 16 cents at $35.46 a barrel by 0410 GMT, while Brent was down 23 cents to $37.70 a barrel. OPEC has been pumping near record levels since last year in an attempt to drive higher-cost...