World Economy International Organizations

  • PARIS/ WASHINGTON, Dec 19- International Monetary Fund chief Christine Lagarde kept her job and escaped punishment on Monday despite a conviction on negligence charges by French judges over a state payout made while she served as France's finance minister in 2008.. The Washington- based IMF executive board reaffirmed its full confidence in Lagarde's...

  • SAO PAULO/ MONTREAL Dec 19- Brazil unveiled a probable challenge against Canadian regional and government funding for Bombardier Inc at the World Trade Organization, reviving a bitter trade feud between the Canadian jetmaker and Brazilian rival Embraer SA. Brazil's foreign ministry said on Monday its trade chamber had authorized WTO proceedings against...

  • PARIS, Dec 19- French judges convicted IMF chief Christine Lagarde on Monday of negligence for a state payout made while she served as France's finance minister in 2008, but imposed no punishment, likely improving chances that she would stay on at the Fund. The Washington- based International Monetary Fund said its executive board was meeting on Monday to...

  • *Rising U.S. crude output could undermine OPEC, Russia cuts. *OPEC, rivals have announced cuts of almost 1.8 mln bpd. NEW YORK, Dec 19- Oil prices were little changed on Monday in quiet pre-Christmas trade as the market waited to see whether U.S. production from shale fields would grow enough to offset planned output cuts by OPEC, Russia and other producers next year.

  • *Rising U.S. crude output could undermine OPEC, Russia cuts. *OPEC, rivals have announced cuts of almost 1.8 mln bpd. NEW YORK, Dec 19- Oil prices were little changed on Monday, with little news to influence a market waiting to see whether U.S. production from shale fields will grow enough to offset planned output cuts by OPEC, Russia and other producers next year.

  • *EU ordered Ireland to recover $14 bln in back taxes from Apple. *Apple, Ireland appeal against decision. The Obama administration also voiced displeasure at what it said was the European Union helping itself to cash that should have ended up in the United States while many in Silicon Valley saw it as further proof that an envious Europe, having lost out on new tech...

  • SAO PAULO, Dec 19- Brazil will challenge government funding for Bombardier Inc at the World Trade Organization, escalating the latest trade spat between the Canadian jet maker and its Brazilian rival Embraer SA. Brazil's Foreign Ministry said on Monday that its trade chamber authorized WTO proceedings against Canada regarding $2.5 billion in state support...

  • *OPEC and rivals have announced cuts of almost 1.8 mln bpd. NEW YORK, Dec 19- Oil prices were little changed on Monday, with little news to influence a market waiting to see whether U.S. production from shale fields will grow enough to offset planned output cuts by OPEC, Russia and other producers next year. "Implied U.S. output increases... will offset a significant...

  • PARIS, Dec 19- French judges convicted IMF chief Christine Lagarde on Monday of negligence for a state payout made while France's finance minister in 2008, but imposed no punishment, citing her preoccupation at the time with the global financial crisis. The executive board of the Washington- based International Monetary Fund was expected to meet shortly to...

  • WASHINGTON, Dec 19- The International Monetary's Executive Board is expected to meet shortly to consider the negligence verdict issued against Managing Director Christine Lagarde by a French court, IMF spokesman Gerry Rice said on Monday. "The Executive Board has met on previous occasions to consider developments related to the legal proceedings in France,"...

  • PARIS, Dec 19- International Monetary Fund chief Christine Lagarde has left France for Washington and will not be present for the verdict in her negligence trial, her lawyer told Reuters. The verdict was due later on Monday. The trial relates to a case in which Lagarde, as French finance minister, approved a 400 million euro state payout to a business tycoon in 2008.

  • *OPEC and rivals have announced cuts of almost 1.8 mln bpd. LONDON, Dec 19- Oil prices edged down on Monday due to a renewed dollar rally but were still supported at levels of around $55 per barrel on the back of delays in new Libyan oil exports and expectations of tighter supplies going into 2017.. Brent crude futures traded at $54.98 per barrel at 1215 GMT, down 23...

  • LONDON, Dec 19- Hedge funds have amassed a record bullish position in crude oil in anticipation OPEC and non- OPEC oil producers will succeed in rebalancing the market and reducing excess stocks next year. Promised production cuts totalling almost 1.2 million barrels per day by the Organization of the Petroleum Exporting Countries and 560,000 bpd by non- OPEC...

  • CARACAS, Dec 19- Venezuelan President Nicolas Maduro said he would soon embark on a tour of oil-producing nations to support the Organization of the Petroleum Exporting Countries' recent agreement to shore up prices with an output cut. "We reached an historic accord," Maduro said late on Sunday. OPEC, of which Venezuela is a member, last month finalized a plan to cut...

  • LONDON, Dec 19- Banks in Britain are being advised they may be able to sue the European Union if it fails to grant them a staggered departure from the trading bloc using rights from an arcane treaty that usually governs international law. The advice was given in a document drawn up by some of Britain's largest law firms for banks lobbying to retain so-called...

  • *OPEC and rivals have announced cuts of almost 1.8 mln bpd. Brent crude futures traded at $55.47 per barrel at 0946 GMT, up 26 cents from their last close. "It looks like the Libyan story and the weaker U.S. dollar are counterbalancing" bearish factors, said Tamas Varga, analyst with PVM Oil Associates.

  • SINGAPORE, Dec 19- OPEC's efforts to hold market share in Asia by keeping its customers, which take about two-thirds of its exports, supplied amid wider output cuts could prolong the global fuel glut and frustrate its attempt to bolster prices. Saudi Arabia, the de-facto leader of the Organization of the Petroleum Exporting Countries, will target its supply cuts...

  • *OPEC, other producers have announced cuts of almost 1.8 mln bpd. SINGAPORE, Dec 19- Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. The Organization of the Petroleum Exporting Countries and other producers led by Russia have announced cutbacks of...

  • *OPEC, other producers have announced cuts of almost 1.8 mln bpd. SINGAPORE, Dec 19- Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. The Organization of the Petroleum Exporting Countries and other producers led by Russia have announced cutbacks of...

  • *OPEC, other producers have announced cuts of almost 1.8 mln bpd. SINGAPORE, Dec 19- Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. The Organization of the Petroleum Exporting Countries and other producers led by Russia have announced cutbacks of...