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  • UPDATE 2-Greek crisis overshadows G7 growth talks Thursday, 28 May 2015 | 5:36 PM ET

    DRESDEN, Germany, May 28- The head of the International Monetary Fund warned that Greece could fall out of the euro zone as it struggled to sort out its debt stand-off, which is adding to concern about the patchiness of global economic recovery. Greece was not officially on the agenda of the Group of Seven meeting on Thursday in a former palace in the eastern Germany...

  • UPDATE 1-EU lawmakers back arbitration in U.S. trade deal Thursday, 28 May 2015 | 12:08 PM ET

    BRUSSELS, May 28- European lawmakers on Thursday backed including investor arbitration in a trade deal with the United States, one of the biggest obstacles to a transatlantic accord, but a decision that activists called a capitulation to business. A trade agreement between the United States and the European Union would be the world's largest, but Washington...

  • WASHINGTON, May 28- Greece has not asked to shift its debt repayments to the IMF to the end of June, a Fund spokesman said on Thursday, adding that talks continue on the next review of Greece's bailout. Athens has some 1.6 billion euros due to the Fund next month, starting with a 300 million euro payment on June 5 that is seen as the next crunch point for Greek state...

  • *Greece expected to make June 5 payment despite threats. The government is talking up chances of an aid-for-reform agreement before a roughly 300 million euro payment falls due on June 5 to the International Monetary Fund, which along with the euro zone funds Greece. Even if Greece did miss an IMF payment, the consequences need not be immediately catastrophic,...

  • EU lawmakers back arbitration in U.S. trade deal Thursday, 28 May 2015 | 8:52 AM ET

    BRUSSELS, May 28- European lawmakers supported on Thursday including investor arbitration in a free-trade deal with the United States, a breakthrough on one of the biggest obstacles to a transatlantic accord. A trade agreement between the United States and the European Union would be the world's largest, but Washington says any deal must include ways for...

  • *U.S. presses Europe, IMF to show flexibility on Greece. DRESDEN, Germany, May 28- Finance chiefs from the Group of Seven economic powers met on Thursday to discuss how to revive a faltering global recovery, with the United States leaning on Europe to reach a deal to avert a Greek bankruptcy. Speaking before meeting the Group of Seven finance chiefs, International...

  • No change in Greek debt talks after another day of spin Thursday, 28 May 2015 | 4:46 AM ET

    BRUSSELS, May 28- The euro leapt, Greek bond yields fell, global financial markets brightened, but nothing actually changed in another day of conflicting statements on Greece's long-running debt talks with international creditors. When the meeting with representatives of the International Monetary Fund, European Central Bank and European Commission...

  • LONDON, May 28- The U.S. shale oil boom is turning global crude pricing on its head with the historical notion that light grades shall be priced at a premium to heavy ones quickly disappearing, according to predictions from producer group OPEC. The trend will have big implications for global oil flows, reducing revenues of light-oil-producing nations such as...

  • OPEC SAYS' EVEN SEVERE LOW PRICE' WILL NOT RESULT IN OUTPUT CUTS FROM PRODUCING NON-OPEC FIELDS- DRAFT REPORT.

  • OPEC EXPECTS DEMAND FOR ITS CRUDE TO FALL FROM 30 MLN BPD IN 2014 TO 28.2 MLN BPD IN 2017, TO RISE TO ALMOST 40 MLN BPD BY 2040- DRAFT REPORT.

  • NON-OPEC CRUDE SUPPLY TO GROW UNTIL 2017 DESPITE OIL PRICE FALL- OPEC DRAFT LONG-TERM REPORT.

  • *Low oil prices have yet to depress non- OPEC production. A draft report of OPEC's long-term strategy, seen by Reuters ahead of the cartel's policy meeting in Vienna next week, forecast crude supply from rival non- OPEC producers would grow at least until 2017.. "Since June 2014, oil prices have experienced a significant reduction, reaching levels even lower than the...

  • ATHENS, May 27- Greece's government on Wednesday said it is starting to draft an agreement with creditors that would pave the way for aid, but European officials quickly dismissed that as wishful thinking. Greece and its European and International Monetary Fund lenders have been locked in tortuous negotiations on a reforms agreement for four months without a...

  • UPDATE 2-U.S. urges EU, IMF to be flexible with Greece Wednesday, 27 May 2015 | 12:27 PM ET

    Treasury Secretary Jack Lew issued the warning on Wednesday in a stopover in London on his way to a meeting of Group of Seven finance ministers in Dresden, Germany. Finance ministers from the United States, Japan, Germany, France, Italy, Britain and Canada are meeting in Dresden on Thursday and Friday, and although Greece is not formally on the agenda, it will be...

  • The Treasury will sell $35 billion in five-year notes at 1 p.m. ET, the second round of this week's hefty $90 billion in new supply of U.S. government debt. Greece has to repay the International Monetary Fund 300 million euros on June 5, the first of four installments due in June that total 1.6 billion euros. "You're probably seeing both a reaction to the supply and a...

  • *Russia to meet OPEC next week, likely to stick to strategy. MOSCOW/ LONDON, May 27- As Russia prepares to meet OPEC next week, a briefing paper from a Moscow think tank has shed light on how the government was warned against cutting oil output late last year even though global prices were plummeting. "If Russia cuts output, OPEC will take our market share in Europe," a team...

  • *U.S. expected to press Europe to reach deal on Greece. DRESDEN, Germany, May 27- Little more than a gentlemen's club in recent years, G7 finance ministers and central bankers have their work cut out this week to revive stuttering global growth and defuse tensions over China's growing economic clout. The United States is likely to use the talks, beginning late on...

  • US STOCKS-Futures edge higher after dollar rally subsides Wednesday, 27 May 2015 | 7:41 AM ET

    May 27- U.S. stock index futures were higher on Wednesday as the dollar retreated from its largest gain in two years and as worries about Greece receded. *Greece and its European creditors have also played down fears that Athens would default on a payment to the International Monetary Fund next week. *Michael Kors Holdings fell 11 percent to $53.92 after the...

  • G7 finance chiefs meet with growth problem to fix Wednesday, 27 May 2015 | 4:47 AM ET

    U.S. expected to press Europe to reach deal on Greece. The United States is likely to use the talks, beginning late on Wednesday and running through to Friday, as an opportunity to press Europe to reach a funding-for-reforms deal with Greece, an official close to the discussions said. Hosts Germany have given the meeting in Dresden the heading "Towards a Dynamic...

  • "The dollar had a strong rebound on the back of slightly better than expected U.S. durable goods and consumer confidence data, but that rebound has been short-lived," said Angus Campbell, senior analyst at FXpro in London. Greece and its European creditors have played down fears that Athens would default on a payment to the International Monetary Fund next week.