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  • *Energy firms cutting back projects that need insuring. LONDON, Feb 10- The insurance industry is becoming the latest casualty of the oil price slump, with postponements and cancellations of energy projects forcing down premium rates and income in a market that was already crowded. Hannover Re's chief executive Ulrich Wallin used some understatement in...

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

  • LONDON— Budweiser-maker AB InBev has received a binding offer of 2.55 billion euros for the European beer brands Grolsch, Peroni and Meantime— a sale that is meant to address regulatory concerns about its mega merger with SABMiller. "SABMiller has grown Peroni and Grolsch into world-renowned premium brands, and we are confident that, along with fast-growing...

  • *Gold hit $1,200.60/ oz on Monday. In her first testimony to Congress since the December rate hike, Yellen said that uncertainty over China and a global reassessment of credit risk could throw the U.S. economy off track from an otherwise solid course. The metal climbed to $1,200.60 on Monday, the highest since June 22 2015, benefiting from a weakening dollar and...

  • LONDON— For Britain and the European Union, they are three little words that expose big philosophical differences: "Ever closer union." The phrase, baked into the EU's 1957 founding treaty and other key documents, remains a fault line between Britain and its European neighbors. On Tuesday, the EU's six original member nations— including Italy, Germany and France—...

  • TOKYO/ BRUSSELS, Feb 10- Asahi Group Holdings Ltd has offered to buy SABMiller's Peroni, Grolsch and Meantime beer brands for 2.55 billion euros, it said on Wednesday, as the Japanese company seeks to offset slow growth at home. Asahi is Japan's biggest brewer with a 38 percent market share, but the company has sought growth outside of Japan where a shrinking...

  • LONDON, Feb 10- World-leading technology company ARM Holdings said a vote to leave the European Union by the British electorate, the so-called Brexit, would hinder its ability to employ the scientists and engineers it needs. Britain's Prime Minister David Cameron has promised voters an opportunity to decide whether the country should remain a member of the...

  • LONDON/ ROME, Feb 10- Europe's top four economies suffered steeper drops in industrial output during December than any analyst had forecast, a grim sign for the global economy as it struggles to sustain momentum. Wednesday's industrial output data for Britain, France and Italy followed news a day earlier of a shock plunge in Germany, setting back expectations...

  • 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...

  • Stocks in the U.S. have opened strongly, taking their cue from a buoyant performance in Europe. The Dow Jones industrial average was up 0.7 percent at 16,131 while the broader S&P 500 index rose 1.2 percent to 1,873. In Europe, the Stoxx 600 index of European shares was trading 2 percent higher at 316.. Traders on both sides of the Atlantic are closely monitoring...

  • 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.