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  • *Sydney, Hong Kong store owners report sagging business. SYDNEY/ HONG KONG, Feb 9- Watching a lone browser in his Sydney Chinatown shop, Bing Chen is worried business is being squeezed this Lunar New Year by what's ailing the world economy at large- the weakest Chinese economy in 25 years. "Our customers have halved," said Chen, standing by neatly stacked shelves at his...

  • PARIS— French drug maker Sanofi says its bottom line was roughly stable last year as it advanced efforts to reshape its drug portfolio and pursue research and development tie-ups in oncology and diabetes. Sanofi made 4.29 billion euros last year, compared to 4.39 billion in 2014. In December Sanofi and German pharmaceutical company Boehringer Ingelheim said...

  • LONDON, Feb 9- Southern European bond yields pulled back from multi-month highs on Tuesday as market expectations of euro zone inflation hit a record low, putting the onus back on the need for further European Central easing. In addition to battling low inflation, the ECB is trying to weather the impact of a global growth slowdown and turbulence in markets that...

  • COPENHAGEN, Feb 9- Denmark's Vestas beat forecasts with record orders for new wind turbines last year, signalling continued strong demand for renewable energy despite a plunge in fossil fuel prices. Hit by overcapacity and the withdrawal of some government subsidies during the global economic downturn, big wind turbine makers are now benefiting from a new...

  • WASHINGTON— President Barack Obama is unveiling his eighth and final budget, a $4 trillion- plus proposal that's freighted with liberal policy initiatives and new and familiar tax hikes— all sent to a dismissive Republican-controlled Congress that simply wants to move on from his presidency. The White House is countering the worsening deficit outlook with a...

  • LONDON, Feb 9- British supermarket Sainsbury's continued to outperform rivals in the early weeks of the year, industry data showed on Tuesday, providing reassurance for investors ahead of the takeover of Argos-owner Home Retail. Total sales at Sainsbury's rose 0.6 percent year-on-year in the 12 weeks to Jan. 31 and its market share edged up 0.1 percentage...

  • LONDON, Feb 9- The yen rose on Tuesday to its highest against the dollar since November 2014, as a sell-off in global stocks and worries about Europe's banks stoked demand for safe-haven currencies. Europe's banking index fell 1 percent and yields on southern European government bonds rose, pushing the euro lower against the dollar to $1.1185.

  • CALAFAT, Romania, Feb 9- O utside a clothing factory in Calafat in southern Romanian early one morning, hundreds of workers crowd around makeshift stalls to stock up on snacks and drinks for their shift. But even inside the European Union- in Romania and Bulgaria particularly- workers can endure poverty-level wages, long hours and arduous conditions to make...

  • *Chances of OPEC/ non- OPEC deal very low. LONDON, Feb 9- The world will store unwanted oil for most of 2016 as declines in U.S. output take time and OPEC is unlikely to cut a deal with other producers to reduce ballooning output, the International Energy Agency said. "Persistent speculation about a deal between OPEC and leading non- OPEC producers to cut output appears to...

  • CALGARY, Alberta, Feb 9- Faced with record low prices for heavy crude, Canadian energy companies are sacrificing other parts of their business to keep higher-cost oil sands production going and safeguard the billions already invested in these multi-decade projects. Although the move to support higher-cost production seems counterintuitive, oil sands...

  • LONDON, Feb 9- European stocks fell on Tuesday, extending sharp losses from the previous session, as concerns persisted over the health of the region's top banks given signs of a global economic slowdown. The pan-European FTSEurofirst 300 index, which had fallen 3.4 percent in the previous session, lost more ground to decline by 0.3 percent in early session...

  • Longchamp's performance comes as sales growth has slowed in the luxury goods sector, hit by weaker demand in China and low oil prices reducing Russia and Middle Eastern purchasing power. Longchamp, which opened three stores in mainland China bringing the total number to 25, said sales there had risen 30 percent at constant currencies, a growth level...

  • HELSINKI, Feb 9- Finnish mining technology company Outotec missed quarterly earnings forecasts on Tuesday and did not propose a dividend, warning demand from miners would weaken further this year. Outotec is struggling as miners have cut spending due to low metal prices, and recent uncertainty regarding China's growth prospects has further hit its business,...

  • LONDON, Feb 9- Futures prices for European banks fell on Tuesday, as concerns mounted over the health of the region's top lenders given signs of a global economic slowdown. Futures on the Euro Stoxx Banks index fell 0.7 percent. Borrowing costs in Spain, Portugal and Italy jumped as investors demanded a fatter risk premium over safer German paper, where two-year...

  • TOKYO, Feb 9- Crude oil prices rose on Tuesday, with U.S. crude shrugging off big drops in Japan's stock market and eroding some of the previous session's losses that were driven by festering concerns about global oversupply. U.S. crude was up 33 cents at $30.02 a barrel at 0720 GMT, after rising as far as $30.30. But on Tuesday, oil market traders ignored a more than 5...

  • *Thin liquidity in Asia with China on week-long holiday. MANILA, Feb 9- Gold edged up to near its highest since June on Tuesday, as uncertainty over global growth that has hammered stocks puts the precious metal on course for its longest rally since 2011.. Tuesday would mark gold's eighth straight day of gains as investors sought safe havens in the face of...

  • *Nikkei flirting with lowest level since Oct 2014. *Strong yen triggers worries about Japan Inc's earnings. TOKYO, Feb 9- Japan's Nikkei share average posted its biggest daily drop in nearly three years on Tuesday, with banks taking the brunt of the sell-off, while a stronger yen dragged down stocks across the board.

  • *Coming Up: Germany Industrial output Dec 0700 GMT. MELBOURNE, Feb 9- London copper steadied on Tuesday, underpinned by a weaker dollar as worries over bank solvencies spilled over from global stock markets, and turnover was extremely low as traders waited for the return of top consumer China next week. "There are a lot of people who have come back in 2016 and are...

  • SYDNEY, Feb 9- Asian share markets were scorched on Tuesday as stability concerns put a torch to European bank stocks and sent investors stampeding to only the safest of safe-haven assets. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.2 percent, with Australian shares hitting 2-1/ 2- year closing low, and would have been lower if not for...

  • *Mideast OPEC producers fight for market share in Asia. DUBAI, Feb 9- Iraq has raised the March official selling price for Basra Light crude to Asia by $0.20 to minus $2.60 a barrel against the average of Oman/ Dubai quotes from the previous month, the State Oil Marketing Organization said. Basra Heavy to Asia in the same month was priced at minus $6.30 a barrel to Oman/...