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  • Treasury Secretary Jack Lew told Ukrainian leaders on Tuesday that the United States and its G7 allies stood ready to impose more sanctions on Moscow if needed, a Treasury official said. "The United States and our G7 allies stand ready to impose significant additional sanctions on Russia if needed to respond to its aggressive acts in eastern Ukraine," the...

  • *Patience with Greece is running out- Finland. ATHENS/ BRUSSELS, June 9- European Union officials on Tuesday swiftly dismissed new Greek promises of economic reform, saying the proposals were not enough to unlock funds that Athens urgently needs to avoid defaulting on its debts. But the EU officials passed judgment only hours after Athens announced it had sent...

  • BRUSSELS, June 9- The new reform proposal that Greece submitted to the institutions representing its creditors on Tuesday is not sufficient to strike a deal that would unlock new funding for cash-strapped Athens, European Union officials said. The chief spokesman for the European Commission, which received the Greek proposal, reiterated after their...

  • By Renee Maltezou and Jan Strupczewski. ATHENS/ BRUSSELS, June 9- Greece handed its creditors new proposals on unlocking funds to keep the country from default, with Prime Minister Alexis Tsipras offering hope for a deal and warning the cost of failure would be enormous. Greece's bailout programme with the European Union and IMF expires at the end of this month,...

  • *As OPEC keeps output level, eyes on Iraq, Iran supply- analysts. Brent for July delivery was up 95 cents to $63.64 a barrel as of 0846 GMT, having settled down 62 cents in the previous session. Demand for oil tends to increase in the summer months as drivers take to the roads for holidays in Europe and the United States.

  • Fund giant PIMCO sees little risk of UK exit from EU Tuesday, 9 Jun 2015 | 5:54 AM ET

    LONDON, June 9- The chance of Britain leaving the European Union looks very low and uncertainty about the outcome of the country's EU membership referendum is not likely to affect business investment, a senior executive with global investment firm PIMCO said. Andrew Balls, PIMCO's global fixed income chief investment officer, said if uncertainty increased to...

  • *China's May consumer inflation weakens more than expected. *As OPEC keeps output level, eyes on Iraq, Iran supply- analysts. Brent for July delivery was up 95 cents to $63.64 a barrel as of 0846 GMT, having settled down 62 cents in the previous session.

  • *Athens talks of compromise after Tsipras rejected proposal. For all the more positive mood music, a European Union official reported "no new developments" in the hunt for a deal under which the creditors would resume aid to Athens in return for promises of more austerity. Athens and Brussels exchanged proposals last week in the hope of breaking an impasse that if...

  • *Greece worries rekindle safety bid for U.S. bonds. Treasuries yields fell on Monday with benchmark yields retreating from seven-month highs as concerns about Greece and its ability to avert default renewed safe-haven investor demand for lower-risk government debt. Greece delayed a 300 million euro payment to the International Monetary Fund last week and...

  • *OPEC oil production likely to continue to exceed demand. "A 4-6 percent drop is acceptable for refinery maintenance season in China, but 20 percent or more is a sign of demand collapse," said Bob Yawger, director of energy futures at Mizuho Securities USA. Phil Flynn, an analyst at Chicago- based Price Futures Group, said a continuous slump in Chinese demand could be a "...

  • MADRID, June 8- The International Monetary Fund on Monday increased its growth forecast for Spain in 2015 and 2016 to 3.1 percent and 2.5 percent from the 2.5 percent and 2 percent it forecast in April but warned the country against reversing unpopular reforms. Some investors have fretted that Spain could cool the pace of its reforms after the country's ruling...

  • *Greece worries rekindle safety bids for U.S. bonds. Treasuries yields fell on Monday with benchmark yields retreating from seven-month highs as concerns about Greece and its ability to avert default renewed safehaven demand for low-risk government debt. Greece delayed a 300 million euro payment to the International Monetary Fund last week and rattled...

  • MADRID, June 8- The International Monetary Fund on Monday increased its forecast for growth in Spain for 2015 and 2016 to 3.1 percent and 2.5 percent from the 2.5 percent and 2 percent it forecast in April. The IMF warned that Spain needed to make additional reforms since it was currently benefitting from lower oil prices, the depreciation of the euro and the...

  • COLUMN-OPEC adjusts to new oil market reality: Kemp Monday, 8 Jun 2015 | 8:44 AM ET

    LONDON, June 8- OPEC has never really been a "cartel" in the conventional sense of an organisation that agrees to restrict output to maximise revenues. Attempts to buck the market always end in failure, a lesson top Saudi officials and others in OPEC have learned the hard way over the last 50 years. OPEC ministers confer regularly and typically announce their...

  • British Prime Minister David Cameron and European Council President Donald Tusk said they hoped the G7, meeting in Germany, would present a united front on sanctions towards Russia over the Ukraine crisis. European Union leaders agreed in March that its sanctions on Moscow over its role in Ukraine would stay until a ceasefire agreement reached in the...

  • *OPEC oil production to continue to exceed demand. LONDON, June 8- Oil prices slipped on Monday after China's fuel imports dropped sharply and as markets digested an OPEC decision to keep its production target unchanged, a move analysts said would keep the market oversupplied for the rest of the year. "The OPEC decision is bearish for oil," said Tamas Varga, oil...

  • LUXEMBOURG, June 8- European Union energy chiefs on Monday sought to galvanize efforts to create a single European energy market with a set of accords on closer power and gas ties while disunity simmers over the finer detail of implementing goals for a new decade of greener fuel. The European Commission, the EU executive, has used the political crisis with the...

  • KIEV, June 8- Ukrainian Finance Minister Natalia Yaresko said she was convinced Ukraine would receive $1.7 billion in a second tranche of credit from the International Monetary Fund, even if no deal was tied up with creditors to restructure huge debts. Ukraine, which has been driven to the edge of bankruptcy by gross economic mismanagement and a separatist...

  • UKRAINE'S YARESKO SAYS AGREEMENT WITH CREDITORS ON RESTRUCTURING IS IMPORTANT FOR THE IMF BUT "NOT AN ESSENTIAL CONDITION".

  • UKRAINE'S FINANCE MINISTER SAYS IN NEWSPAPER INTERVIEW SHE CONVINCED IMF WILL DISBURSE SECOND TRANCHE OF $1.7 BILLION CREDIT IN JULY EVEN IF NO DEAL REACHED ON DEBT RESTRUCTURING.