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  • *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.

  • LONDON, May 26- A panel of European Union lawmakers narrowly rejected a draft law aimed at curbing trading risks at banks after they failed to bridge a deep divide between the main parties. The European Parliament's economic affairs committee voted to reject the draft law on bank structural reform by 30 votes to 29 in a relatively rare move.

  • MOSCOW, May 26- Russia is increasing its gold holdings because gold is a reserve asset that is free from legal and political risks, a senior central banker said on Tuesday. Russia increased its gold holdings for many months in a row last year, as shown by central bank and International Monetary Fund figures. Western sanctions imposed because of Russia's actions in...

  • *OPEC meets next week; Iran sees no output change. Friday's weekly data showed U.S. drillers cut the number of rigs by just one last week and Goldman Sachs said prices were at a level that would spur activity, adding to a growing list of headwinds crude faces that include rising OPEC supply. On Sunday, Iran said the Organization of the Petroleum Exporting Countries...

  • ATHENS/ BRUSSELS, May 26- Greece and its Europeans creditors on Tuesday sought to play down fears that Athens would default on a payment to the International Monetary Fund next week. Running short of cash to pay public sector salaries, pensions and debt obligations, senior members of Prime Minister Alexis Tsipras's government have said openly that Greece does...

  • BRUSSELS, May 26- Cash-strapped Greece could avoid paying back the IMF on June 5 without defaulting if it lumps together all IMF repayments due in June and pays them at the end of the month, officials said on Tuesday. 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.

  • Greece might sidestep June 5 IMF payment deadline Tuesday, 26 May 2015 | 9:18 AM ET

    BRUSSELS, May 26- Cash-strapped Greece could avoid paying back the IMF on June 5 and win more time to negotiate a funding deal without defaulting if it lumps together all IMF repayments due in June and pays them at the end of the month, officials said on Tuesday. Greece has to repay the International Monetary Fund 300 million euros on June 5, the first of four...

  • GREECE COULD AVOID HAVING TO PAY IMF ON JUNE 5 IF IT LUMPS TOGETHER ALL JUNE IMF BILLS AND PAYS AT END OF MONTH- OFFICIALS.

  • *IMF expects China growth of 6.8 pct this year. BEIJING, May 26- China's yuan currency is no longer undervalued after its recent gains, but the government should quicken reforms to get to having "a floating exchange rate", the International Monetary Fund said on Tuesday. In a reference to how China still has a large trade surplus, despite a stronger yuan, the IMF said...

  • *IMF expects China growth of 6.8 pct this year. BEIJING, May 26- China's yuan currency is no longer undervalued after its recent substantial appreciation, but the government should quicken reforms to get to having "a floating exchange rate", the International Monetary Fund said on Tuesday. In a reference to how China still has a large trade surplus, despite yuan...

  • *Dollar rally weighing on oil could run further- Morgan Stanley. *OPEC meets next week; Iran sees no output change. The dollar could rally further, Morgan Stanley said, adding to a growing list of headwinds crude faces that include rising OPEC supply.

  • BEIJING, May 26- China should step up fiscal support for its economy if growth dips below 6.5 percent this year, or prepare to take steps to rein in credit and investment if growth surprises on the upper side, the International Monetary Fund said on Tuesday. The IMF said China still faced risks form unsustainable credit and investment growth and urged the...

  • TOKYO, May 26- China's drive to create a Beijing- led Asian development bank seen as a threat to U.S. and Japanese regional clout is adding to a sense of urgency among Japanese officials keen to get a 12- nation pan-Pacific trade pact off the ground. Japan hopes the Trans-Pacific Partnership will help anchor ally Washington in Asia and create a rule-based regime...

  • May 26- A once-popular pair trade pitting the U.S. dollar against oil prices has re-emerged in recent weeks, injecting a new wildcard into the market just as the Organization of the Petroleum Exporting Countries prepares to meet. About two weeks ago, Morgan Stanley analysts said an "uncanny" relationship has developed between the dollar index and benchmark...

  • SINGAPORE, May 26- U.S. crude was steady early on Tuesday as firm demand supported prices and ample supply dragged. Robust demand in Asia as well as from the driving season in the United States is being met by near record output, especially from the Organization Of Petroleum Exporting Countries, although U.S. production seems to have been peaked, at least...

  • PARIS, May 25- Greece's budget proposals are insufficient to ensure a surplus this year, International Monetary Fund chief economist Olivier Blanchard was quoted as saying on Monday. Blanchard told French financial daily Les Echos in an interview that Greece was supposed to have a 3 percent 2015 budget surplus, but that this goal was probably not realistic at...

  • *Markets in U.S., much of Europe closed on Monday. LONDON, May 25- European shares fell in thin trade on Monday while the dollar held firm after U.S. A warning on Sunday by Greece's interior minister that the country will not be able to meet a June 5 repayment to the International Monetary Fund, and political concerns in Spain after the ruling People's Party took a...