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  • Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and the Kremlin's oil tsar Igor Sechin proposed producing countries reduce output by 1 million barrels per day- without saying whether non- OPEC member Russia would cut. While traders and delegates from OPEC doubt any deal between the group and rival producers- which would be the first in...

  • LONDON, Feb 10- The dollar struggled to climb off 3-1/ 2- month lows on Wednesday as worries over a global economic slowdown weighed and traders waited for more tips on the likely course of U.S. interest rates from Federal Reserve Chair Janet Yellen. Despite a shock move from the Bank of Japan to adopt negative interest rates two weeks ago, the yen hit a 15- month high...

  • LONDON _ Markit Ltd. on Wednesday reported fourth-quarter earnings of $46.5 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share. Markit shares have declined 10 percent since the beginning of the year.

  • *Gold hit $1,200.60/ oz on Monday. Federal Reserve Chair Janet Yellen will address Congress at 1330 GMT for the first time since hiking interest rates in December and is expected to insist that further rises this year remain on track, albeit at a slower pace. "The gold market will listen carefully to what Janet Yellen has to say it is not factoring in a 100 percent...

  • LONDON— Thousands of junior doctors throughout England have gone on strike after the failure of contract negotiations. The strikes are the result of a bitter contract dispute over pay and working conditions between the government and the British Medical Association. Anne Rainsberry, national incident director for NHS England, said the national health...

  • *Iran says open to cooperation with Saudi Arabia. LONDON, Feb 10- Oil rose towards $31 a barrel on Wednesday after four days of declines, supported by the prospect of OPEC and rival producers cooperating to tackle a supply glut that has sent prices to a 12- year low. Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and the Kremlin's oil tsar...

  • *Says oil price drop driven by OPEC decision. Oil prices have slumped more than 70 percent to near $30 a barrel over the past 18 months as supply exceeded demand by up to 2 million bpd after OPEC, seeking to drive higher-cost producers out of the market, decided not to cut production. Struggling oil-producing countries have urged OPEC leader Saudi Arabia in recent...

  • *Asahi eyes overseas growth as beer sales fall in Japan. TOKYO, Feb 10- Asahi Group Holdings Ltd has reached a preliminary deal to buy SABMiller PLC's Peroni and Grolsch beer brands for over 400 billion yen, the Nikkei daily reported, as part of efforts to offset slow growth at home. But the company has sought grow outside Japan where beer sales have fallen over the...

  • *Bank shares lead Europe stocks up after Asia falls. LONDON, Feb 10- European stocks rose on Wednesday, rallying after losses in Asia, as concerns about the health of banks that have hammered shares globally in recent days eased and oil prices recovered from Tuesday's steep falls. Investors and traders were looking ahead to Congressional testimony from Federal...

  • LONDON, Feb 10- The dollar languished close to a 3-1/ 2- month low against a basket of major currencies on Wednesday, as traders waited for U.S. interest rate guidance from Federal Reserve Chair Janet Yellen. Worries over sliding commodity prices, a slowing China and the health of European banks have also dampened dollar demand in favour of safe-haven assets such...

  • Wall Street appears set to open higher as investors look ahead to comments by Janet Yellen, the chair of the U.S. The standout event for financial markets on Wednesday is what Janet Yellen, the chair of the U.S. Federal Reserve, tells lawmakers on the House Financial Services Committee about the state of the U.S. economy.

  • Stock benchmarks also fell in Southeast Asia, India and New Zealand. Markets are closed in China, Taiwan, Hong Kong and South Korea for Lunar New Year holidays. Hong Kong and Korea reopen on Thursday and China and Taiwan resume trading on Monday.

  • SINGAPORE, Feb 10- Gold rose for an eighth session out of nine on Wednesday, climbing towards a 7-1/ 2- month high as investors sought the safe-haven asset amid tumbling stock markets and concerns about the global economy. Spot gold was up 0.2 percent to $1,190.71 an ounce by 0310 GMT, after hitting an earlier intraday high of $1,194.06. Federal Reserve Chair Janet...

  • LONDON _ Willis Group Holdings Ltd. on Tuesday reported a fourth-quarter loss of $24 million, after reporting a profit in the same period a year earlier. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share. Three analysts surveyed by Zacks expected $988.3 million.

  • NEW YORK, Feb 9- Oil prices slid for a fourth straight session on Tuesday and teetered close to 12-1/ 2- year lows hit last month, after weak demand forecasts from the U.S. government and the western world's energy watchdog, while weak equities also pressured prices. "The longs got out, the shorts jumped back in and there was possibly a whole lot of hedging by producers...

  • NEW YORK, Feb 9- The U.S. dollar fell sharply on Tuesday to its lowest level in nearly four months, as measured by an index of major currencies, with fears of a global economic slowdown pushing investors into safe-haven currencies like the Japanese yen and Swiss franc. The U.S. dollar index, which measures the greenback against a basket of world currencies, fell to...

  • *Stops short of $1,200 an ounce on Tuesday. NEW YORK/ LONDON, Feb 9- Gold turned higher on Tuesday but hovered beneath the previous session's 7-1/ 2- month high of $1,200 an ounce, buoyed by risk aversion as equities remained volatile and the dollar extended losses. Spot gold was up 0.1 percent at $1,192.30 an ounce at 2:12 p.m. EST, below the session high of $1,198.90...

  • People enter the building of the Swiss bank UBS in Midtown Manhattan

    UBS has reacted to the financial market turbulence by freezing salaries for its investment bankers until at least mid year. The FT reports.

  • NEW YORK, Feb 9- Oil prices fell nearly 6 percent on Tuesday as equity markets remained weak and forecasts of swelling record high U.S. crude stockpiles faced expectations that global demand will not grow quickly enough to erase the overhang of crude any time soon. U.S. gasoline futures fell to a 2008 low ahead of the American Petroleum Institute's weekly report...

  • NEW YORK, Feb 9- Oil prices fell almost 3 percent on Tuesday as equity markets remained weak and forecasts of swelling record high U.S. crude stockpiles faced expectations that global demand will not grow quickly enough to erase the overhang of crude any time soon. U.S. gasoline futures fell to a 2008 low ahead of the American Petroleum Institute's weekly...