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  • *Meets handful of leaders on sidelines of summit in Riga. RIGA, May 22- British Prime Minister David Cameron said on Friday he was confident of winning concessions from European Union leaders before he asks voters whether Britain should stay in the bloc. After his Conservative Party won an unexpected majority in a May 7 election, Cameron is committed to...

  • Saudi Arabia rewrites its oil game with refining might Friday, 22 May 2015 | 10:25 AM ET

    *Refining and trading could shift Kingdom's OPEC calculus. LONDON, May 22- Saudi Arabia's rapid transition into one of the world's largest oil refiners adds an extra dimension to the oil exporter's role as the driver of OPEC policy. When it attends OPEC's next meeting in two weeks, it does so with major new state-of-the-art oil refineries that can profit from...

  • LONDON, May 22- A shortage of prime office space in rival European financial centres may torpedo plans by some of London's banks to quit the UK capital if Britain opts out of European Union membership. Deutsche Bank, the euro zone's second largest bank by assets, confirmed this week it was considering cutting its UK operations if the country pulled out, and other...

  • *Gaza's economic output contracted 15 percent in 2014. JERUSALEM, May 22- Gaza's economy is in a worse state than any other in the world, with unemployment at a global high, output contracting sharply and the long-term prospects worrying, the World Bank said on Friday. "Blockades, war and poor governance have strangled Gaza's economy and the unemployment rate is now...

  • RIGA, May 22- British Prime Minister David Cameron on Friday began his campaign to persuade European leaders to make changes to the European Union before he holds a referendum to decide whether Britain should stay in or quit the bloc. Cameron was due to hold talks with European Council President Donald Tusk and a handful of EU government heads on the sidelines of...

  • MEXICO CITY, May 21- Mexico said on Thursday it would decide within about 15 days what sanctions to impose on U.S. meat products if the U.S. Congress does not comply with a World Trade Organization ruling on labeling. On Monday, the WTO ruled that U.S. country-of-origin labeling laws discriminated against imported meat from Mexico and Canada.

  • RIGA, May 22- Newly re-elected British Prime Minister David Cameron will have his first talks with other European Union leaders on Friday on reforms he is seeking to the EU before holding a referendum by 2017 on Britain's membership of the bloc. Cameron will use a summit in the Latvian capital between the EU and six former Soviet republics as an opportunity to...

  • Fed's Fischer says euro zone survival virtually assured Thursday, 21 May 2015 | 2:00 PM ET

    Federal Reserve Vice Chair Stanley Fischer on Thursday said the euro zone crisis had made the monetary union stronger and proved that the European Central Bank has the ability to carry out effective policy in the region. Even though the crisis is not over, with Greece in particular still struggling and facing a possible debt default, the ECB's actions have "...

  • MOSCOW, May 21- The International Monetary Fund sees the Russian economy shrinking by 3.4 percent in 2015, a smaller contraction than previously forecast, but said the country's public finances faced big longer-term challenges because of low oil prices. Russia's economy was tipped into crisis last summer when an existing slowdown was compounded by a sharp...

  • GENEVA, May 21- Japan launched a trade complaint at the World Trade Organization on Thursday to challenge South Korea's import bans and additional testing requirements for Japanese food after the 2011 Fukushima nuclear disaster, the WTO said. Japan says several measures taken by South Korea violate the WTO's sanitary and phyto-sanitary agreement and Seoul...

  • *Britain says has no power to enforce the rules. LONDON, May 21- Banks should provide customers with the means to create one-off passwords from August to make buying over the Internet safer, European Union banking regulators said on Thursday. The European Banking Authority announced details of its plans over the coming years to make e-commerce safer, breaking...

  • LONDON, May 20- The European Union risks pricing itself out of the global economy by excessive regulation, British finance minister George Osborne said on Wednesday, making the case for reforms in the bloc ahead of a referendum on whether Britain remains a member. Osborne was addressing business leaders in London in one of his first major speeches after an...

  • BRUSSELS, May 20- Firms such as Google and Microsoft will face stiffer fines if they violate Europe's "right to be forgotten" online rules, according to a draft text agreed by European Union ambassadors on Wednesday, diplomatic sources said. EU member states are negotiating an overhaul of the bloc's outdated privacy laws in a bid to make them more harmonised and...

  • GLOBAL MARKETS-Greek warning knocks euro, stocks steady Wednesday, 20 May 2015 | 1:12 PM ET

    *Greece won't make June 5 IMF repayment without deal-official. Treasuries inched up on safe-haven buying caused by worries that Greece may be unable to make a 300 million euro repayment to the International Monetary Fund on June 5 unless foreign lenders distribute more aid. The Greek parliamentary speaker said Athens will not make the June 5 payment unless it...

  • COLUMN-How do you lose 100 million barrels of oil? Kemp Wednesday, 20 May 2015 | 11:52 AM ET

    LONDON, May 20- Oil-market watchers are struggling to reconcile the large estimated oversupply in the market with the much smaller buildup of reported inventories and narrowing contango in futures prices. Stockpiles should have increased by between 200 million and 350 million barrels, according to the International Energy Agency, OPEC and the U.S. Energy...

  • GLOBAL MARKETS-Euro slips on Greek worries, stocks steady Wednesday, 20 May 2015 | 11:38 AM ET

    *Greece won't make June 5 IMF repayment without deal-official. Treasuries inched up on safe-haven buying caused by worries that Greece may be unable to make a 300 million euro repayment to the International Monetary Fund on June 5 unless foreign lenders distribute more aid. The Greek government's parliamentary speaker said on Wednesday that Athens will not...

  • *Greece mulls banking transaction tax- sources. ATHENS, May 20- Greece cannot make an upcoming payment to the International Monetary Fund on June 5 unless foreign lenders disburse more aid, a senior ruling party lawmaker said on Wednesday, the latest warning from Athens it is on the verge of default. Talks between Greece and its lenders have foundered on Athens'...

  • EU lawmakers seek ban on "blood metals" in surprise vote Wednesday, 20 May 2015 | 9:12 AM ET

    The result is set to paralyse the bill because European Union governments say firms across the 28 EU countries cannot track materials from small mines all the way through commodity exchanges to component manufacturers and the final product. Greens, centre-left and protest lawmakers from the far-left and far-right gained critical mass in the vote to...

  • LONDON, May 20- The euro slid to a two-week low and a rally in European shares stalled on Wednesday after a Greek official said the country may not make an upcoming repayment to the International Monetary Fund. "With Greek government liquidity particularly tight and reports suggesting the IMF payment on June 5th is under question, then we expect further turmoil...

  • *Middle East crude flows to China down over 10 pct since January. BEIJING/ SINGAPORE, May 20- Saudi Arabia and its main Middle East OPEC partners are turning down Chinese requests for extra oil as they hold back fuel for their own refineries just as demand from the world's biggest crude importer hits new records. Reuters pricing and trade flow data show a 40 percent...