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  • The data from China showed that the world's second-largest economy's manufacturing sector contracted in January at the fastest pace since 2012.. Oil prices fell about 6 percent after the China data added to worries about demand and an OPEC source played down talk of an emergency meeting to stem the decline. "The consumer spending numbers are a concern," said...

  • MADRID, Feb 1- Spain's High Court said on Monday it would open a trial against former International Monetary Fund chief Rodrigo Rato and dozens of other people alleged to have misused credit cards for personal expenses while at Spanish lender Bankia. Rato, a former Spanish finance minister and one-time leadership contender for the ruling centre-right...

  • NEW YORK, Feb 1- U.S. crude oil prices fell 6 percent on Monday as weak economic data from China, the world's largest energy consumer, reversed a four-day rally from last week and an OPEC source undermined chances of an emergency meeting to stem the decline. "China is the last standing consumer of oil outside of the U.S.. "As long as we keep in this scenario where China is...

  • FRANKFURT, Feb 1- The head of the European Central Bank called for a solution to keep the United Kingdom in the European Union, saying that such an agreement alongside tighter integration of the euro zone would bolster confidence. Mario Draghi made the comments to the European Parliament as British Prime Minister David Cameron sought reforms of the bloc ahead...

  • LONDON, Feb 1- European Union plans to align global and European rules on writing down debt at collapsing banks will be rethought following concerns raised by lenders and member states, people familiar with the situation said on Monday. In a document seen by Reuters, the European Commission suggested last week an "integrated" approach to combining EU rules on "...

  • In that week, the price of Brent crude oil rose by nearly 10 percent to above $32 a barrel, lifted by a blast of short-covering following signals from OPEC and Russian oil officials that both sides could be open to discussing a possible cut in crude oil output. "The two weeks sum up the tightrope that oil is walking," PVM Oil Associates analyst David Hufton said in a note.

  • *Fed vice-chair to speak at 1 p.m. ET. The data from China showed that the world's second-largest economy's manufacturing sector contracted in January at the fastest pace since 2012.. Oil prices fell about 4 percent after the China data added to worries about demand and an OPEC source played down talk of an emergency meeting to stem the decline.

  • NEW YORK, Feb 1- Oil fell up to 5 percent on Monday as weak economic data from China, the world's largest energy consumer, reversed a four-day rally from last week and an OPEC source undermined chances of an emergency meeting to stem the decline. A senior OPEC source told a Saudi Arabian newspaper on Monday it was too early to talk about an emergency meeting of the...

  • *Too early to speak of OPEC meeting- OPEC source in paper. LONDON, Feb 1- Oil fell 4 percent on Monday as weak economic data from China, the world's largest energy consumer, weighed on prices and an OPEC source played down talk of an emergency meeting to stem the decline. "The weak China PMI is driving down prices because China weighs on the entire commodities sector from...

  • MADRID, Feb 1- Spain's High Court said on Monday it will open a trial against former IMF chief Rodrigo Rato and dozens of other people alleged to have misused credit cards for personal expenses while at Spanish lender Bankia. Rato, a former Spanish finance minister and one-time leadership contender for the center-right People's Party, has denied wrongdoing in...

  • U.S CRUDE FUTURES FALL 5 PERCENT ON WEAK CHINA ECONOMIC DATA AND FADING PROSPECTS OF OPEC PRODUCTION CUTS- TRADERS.

  • *Closer Israel ties with Cyprus, Greece alarm Palestinians. JERUSALEM, Feb 1- Israel, Cyprus and Greece have agreed to deepen their energy, security and tourism ties in the Eastern Mediterranean, a deal that may have implications for Israel's testy relationship with the European Union, too. The agreement, signed in Nicosia last week by a beaming Prime Minister...

  • *Too early to speak of OPEC meeting- OPEC source in paper. LONDON, Feb 1- Oil fell nearly four percent on Monday as weak economic data from China, the world's largest energy consumer, weighed on prices and an OPEC source played down talk of an emergency meeting to stem the decline. "The weak China PMI is driving down prices because China weighs on the entire commodities...

  • *Weak economic data from China, which showed that the world's second-largest economy's manufacturing sector contracted in January at the fastest pace since 2012, will exacerbate concerns regarding a China- led global slowdown. *Oil prices fell after China data added to worries about demand and an OPEC source played down talk of an emergency meeting to stem...

  • LONDON/ DUBAI, Feb 1- OPEC and non- OPEC countries have not yet agreed to hold a meeting to discuss action to support oil prices, two OPEC delegates said on Monday, nearly a week after Russian officials said Moscow should talk to OPEC. OPEC delegates said last week a gathering of OPEC and non- OPEC oil officials could take place in February or March, perhaps at an expert...

  • *Nigeria, Angola talk to World Bank about loans. LAGOS/ LUANDA, Feb 1- Nigeria and Angola, Africa's two biggest oil producers, are both in talks with the World Bank about support to help cope with low crude prices, weakening currencies and strained public finances. Angola also held talks with the World Bank between Jan. 25-29 about securing funding support in a deal...

  • *Too early to speak of OPEC meeting- OPEC source in paper. LONDON, Feb 1- Oil fell 2 percent on Monday as weak economic data from China, the world's largest energy consumer, weighed on prices and an OPEC source played down talk of an emergency meeting to stem the decline. A senior OPEC source told a Saudi Arabian newspaper it was too early to talk about an emergency...

  • LONDON, Feb 1- Ratings agencies in the European Union, which came under fire during the financial crisis for the verdicts they gave on sub-prime debt, still need to be better supervised, the bloc's auditor said on Monday. The European Court of Auditors said that the European Securities and Markets Authority's supervision of the agencies since 2011 was well...

  • *China posts weakest manufacturing data since 2012. *OPEC output hits multi-year high of 32.6 mln bpd. SINGAPORE, Feb 1- Oil prices dropped on Monday after China and South Korea posted surprisingly weak economic data, while fading prospects for a coordinated production cut by leading crude exporters also dragged on the market.

  • *China posts weakest manufacturing data since 2012. *OPEC output hits multi-year high of 32.6 mln bpd. SINGAPORE, Feb 1- Oil prices dropped early on Monday after China and South Korea posted surprisingly weak economic data and on worries the prospect of a coordinated production cut by leading crude exporters seemed remote.