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World Economy International Organizations

  • *Carney says will try to keep some euro clearing in London. LONDON, April 7- Bank of England Governor Mark Carney called on Friday for Britain and the European Union to reach a sweeping deal to recognise each others' bank rules after Brexit, or risk a potentially damaging hit to financial services across Europe. Speaking at Thomson Reuters' London office, Carney said...

  • *Tax transparency could increase disputes- Malta. VALLETTA, April 7- Malta's presidency of the European Union said on Friday the bloc should slow down its drive against corporate tax avoidance because it might hurt Europe's economy by increasing legal uncertainty. In a paper to be discussed by EU finance ministers in Valletta on Friday and Saturday, Malta, which...

  • LONDON, April 7- Bank of England Governor Mark Carney called on Friday for Britain and the European Union to reach a sweeping deal to recognize each others' bank rules after Brexit or risk a potentially damaging hit to financial services across Europe. Carney said in a speech at Thomson Reuters' London office that banks had to be ready for a "hard" Brexit and he set a...

  • LONDON, April 7- Bank of England Governor Mark Carney called on Friday for Britain and the European Union to recognise each others' bank rules after Brexit or risk a potentially damaging hit to financial services across Europe. Carney also said in a speech at Thomson Reuters' London office that the BoE and banks had to be ready, simply for contingency reasons, for a "...

  • *Oil supplies remain abundant despite OPEC cuts. SINGAPORE, April 7- Oil futures surged more than 2 percent to a one-month high on Friday after the United States launched dozens of cruise missiles at an airbase in Syria, with prices later dropping back as there seemed no immediate threat to supplies. Although Syria has limited oil production, its location in the...

  • LONDON, April 6- How Britain's divorce negotiations with the European Union progress will decide whether sterling sinks possibly as low as $1.10 or bounces as high as $1.50 in the coming year, a Reuters poll of foreign exchange strategists found. Several analysts said it would sink to $1.10-- a level not seen since 1985, just before the United States devalued the...

  • SINGAPORE, April 7- Oil prices dipped on Friday as ongoing concerns about oversupply outweighed an OPEC- led production cut and strong refinery activity. Brent crude futures, the international benchmark for oil, were at $54.85 per barrel at 0109 GMT, down 4 cents from their last close. Both figures, however, were higher than at any time during the second half of 2016,...

  • SINGAPORE, April 7- Oil prices dipped on Friday as ongoing concerns about oversupply outweighed an OPEC- led production cut and strong refinery activity. Brent crude futures, the international benchmark for oil, were at $54.85 per barrel at 0109 GMT, down 4 cents from their last close. Both figures, however, were higher than at any time during the second half of 2016,...

  • OTTAWA, April 6- The timetable for renegotiating the North American Free Trade Agreement is slipping, and Canada has no idea when the U.S. administration will start the process, a senior Canadian official said on Thursday. I have no idea when it will happen, "said David MacNaughton, Canada's ambassador to the United States, and a key player on the file.

  • *Britain opposes the tightening, adds to Brexit risks. VALLETTA, April 6- The European Central Bank has proposed that large branches of foreign banks in the European Union be subject to tighter regulation and capital requirements, a move that would increase U.S. and Asian lenders' costs and also hit British banks after Brexit. The ECB proposal to European Union...

  • LONDON, April 6- How Britain's divorce negotiations with the European Union progress will decide whether sterling sinks possibly as low as $1.10 or bounces as high as $1.50 in the coming year, a Reuters poll of foreign exchange strategists found. Several analysts said it would sink to $1.10-- a level not seen since 1985, just before the United States devalued the...

  • LONDON, April 6- Major central banks need to plan ahead and work more closely together to ensure the world's bank funding markets do not freeze up again in future financial crises, the Bank for International Settlements said on Thursday. Federal Reserve's William Dudley, who chaired the BIS working group on the topic. One of the complications of providing banks...

  • NEW YORK, April 6- Trading volumes and open interest in U.S. crude futures soared in 2016, particularly among buyers out of Asia and shale companies locking in output, both of whom have shown an affinity for far-dated contracts, the CME Group Inc said on Thursday. Shale has since emerged as a resilient rival to the Organization of the Petroleum Exporting Countries...

  • MANILA, April 6- Developing Asia is on track to post its slowest annual growth in 16 years this year as it adjusts to China's rebalancing and possible spillovers from global policy uncertainty, the Asian Development Bank said. The Manila- based lender kept at 5.7 percent this year's growth forecast for developing Asia, which groups 45 countries in the...

  • MANILA, April 6- Developing Asia is on track to post its slowest annual growth in 16 years this year as it adjusts to China's rebalancing and possible spillovers from global policy uncertainty, the Asian Development Bank said. The Manila- based lender kept at 5.7 percent this year's growth forecast for developing Asia, which groups 45 countries in the...

  • BEIJING, April 6- China's commerce ministry said on Thursday that it is highly concerned by the European Union decision to slap 18.1 percent to 35.9 percent anti-dumping duty on China's hot-rolled steel coil.

  • MANILA, April 6- Developing Asia is on track to post its slowest annual growth in 16 years this year as it adjusts to China's rebalancing and possible spillovers from global policy uncertainty, the Asian Development Bank said. The Manila- based lender kept at 5.7 percent this year's growth forecast for developing Asia, which groups 45 countries in the...

  • *OPEC trying to help market rebalance, ease oversupply. LONDON, April 6- The jury is still out on whether OPEC can rein in a global oil glut but top commodity traders are betting it can by selling stakes in storage tank businesses that profited from oversupply. The five top traders, who also include Mercuria and Trafigura, expect OPEC to extend output cuts into the...

  • NEW YORK, April 6- Trading volumes and open interest in U.S. crude futures soared in 2016, particularly among buyers out of Asia and shale companies locking in output, both of whom have shown an affinity for far-dated contracts, the CME Group Inc said on Thursday. Shale has since emerged as a resilient rival to the Organization of the Petroleum Exporting Countries...

  • *Rising U.S. oil exports undermine OPEC efforts to tighten market. SINGAPORE, April 6- Oil prices fell on Thursday as record U.S. crude inventories underscored that crude markets remain bloated, despite efforts led by OPEC to cut output and prop up prices. Brent crude futures, the international benchmark for oil, were at $54.07 per barrel at 0310 GMT, down 29 cents, or...