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  • NEW YORK, Feb 12- U.S. The Commerce Department said retail sales excluding automobiles, gasoline, building materials and food services increased 0.6 percent last month after an unrevised 0.3 percent decline in December. "It's a strong report and it will give investors some confidence that the economy is still in relatively good shape and it will restore some...

  • Hedge fund Aurelius Capital Management issued the statement after Argentina on Thursday asked a federal judge in New York to vacate orders restricting it from servicing its restructured debts in light of last week's settlement offer by the country. Mark Brodsky, Aurelius' chairman, said given "the choice between accepting the substantial haircut we have...

  • TORONTO, Feb 12- Canada's main stock index rebounded Friday after five days of losses, led by banks and energy stocks as crude oil prices rallied and after U.S. retail sales data offered encouragement about the economic outlook. Cenovus Energy Inc rose 2.9 percent to C $14.36. The oil producer said it may sell up to $5 billion of stock, debt or other securities, a day...

  • *Low oil prices lift spending less than before-CEOs. LONDON, Feb 12- Consumer companies are offering investors a small degree of relief from the turmoil in banking and resources in a results season dominated by fears about slowing economic growth. "In the context of a market that's in meltdown, the performance consumer goods has been delivering is pretty good,"...

  • BILLINGS, Mont.— Montana environmental regulators gave only partial approval on Friday to a long-stalled silver and copper mine proposed beneath a federal wilderness area, casting uncertainty over the $500 million project that would bring hundreds of jobs to a rural area with high unemployment. Department of Environmental Quality Director Tom Livers...

  • PARIS— Moroccan authorities have given furniture giant Ikea the green light to open its first store in the North African kingdom after months of uncertainty. The store was due to open near Casablanca in September, but received a last-minute notice saying the company lacked the proper certificate of conformity. The Moroccan government then announced a...

  • LONDON, Feb 12- Oil prices jumped on Friday on prospects for a coordinated production cut sparked by comments from the energy minister of OPEC member United Arab Emirates. Brent gained as much as 6 percent against the previous day's settle, and was up 4.5 percent at $31.42 per barrel at 1510 GMT. "The comments by the UAE oil minister are pushing prices up... but we're...

  • RICHMOND, Va.— Energy companies behind the Atlantic Coast Pipeline have carved a new proposed route through parts of West Virginia and Virginia in response to federal concerns about the national gas pipeline's initial path through sensitive national forest areas. Dominion is the lead company proposing the 42- inch pipeline from West Virginia, through...

  • CHICAGO— Grain futures were lower Friday in early trading on the Chicago Board of Trade. Wheat for March delivery was 1.25 cents lower at $4.57 a bushel; March corn was. 25 cent lower at $3.60 a bushel; March oats were unchanged at $1.9140 a bushel; while March soybeans was 2.50 cents lower at $8.7060 a bushel. April live cattle was. 65 cent higher at $1.3018 a pound; March...

  • Feb 12- Now markets have delivered their verdict on inflation- it's not picking up any time soon- economic data due next week will show whether price pressures are rising meaningfully or falling back in some of the world's major economies. Sweden's Riksbank also slashed its repo rate to -0.50 percent on Thursday, partly as insurance against expectations that...

  • WASHINGTON— U.S. businesses boosted their stockpiles slightly in December, as sales dropped sharply. The Commerce Department said Friday that December business inventories rose a seasonally adjusted 0.1 percent, after having slipped 0.1 percent in November. For all of last year, business sales fell 2.4 percent last to $15.8 billion, the first decline since...

  • WASHINGTON— US business stockpiles rise as sales fall, sign of possible economic weakness.

  • *U.S. crude prices up 6 pct. Feb 12- Wall Street staged a modest comeback on Friday, led by a rebound in financial and energy stocks, after a punishing, widespread rout this week on concerns about the health of the global economy, and ahead of the long weekend. Prices of U.S. crude, which has been in a tailspin for more than a year, soared nearly 7 percent on Friday after the...

  • WASHINGTON, Feb 12- U.S. business inventories edged up in December as sales fell, pushing the inventory-to-sales ratio to its highest level in 6-1/ 2 years. The Commerce Department said on Friday inventories rose 0.1 percent after a revised 0.1 percent dip in November. Inventories in November were previously reported to have dropped 0.2 percent.

  • *Tender is for bonds worth 3 bln euros and $2 billion. FRANKFURT, Feb 12- Deutsche Bank will buy back more than $5 billion in senior debt, it said in a statement on Friday, sending its shares higher. Deutsche Bank has had 215 billion euros in liquidity reserves, of which 50 billion euros are in senior debt.

  • SAO PAULO, Feb 12- Latin American currencies were mostly little changed on Friday but looked set to post losses on the week as traders saw a recovery in oil prices offering only temporary respite from recent financial turmoil. Crude prices jumped after comments by the United Arab Emirates energy minister raised hopes of a coordinated output cut.

  • *Could reach $1,300 if stocks don't stop falling, analysts. Spot gold was down 1 percent at $1,234.30 an ounce by 1423 GMT, but has still risen more than 5 percent this week, the biggest weekly gain since October 2011. "Gold could test $1,260 or even $1,300 in the next few weeks, but I wouldn't be surprised if we also see some profit-taking," said Commerzbank analyst...

  • NYAHURURU, Kenya— This Valentine's Day, there's a good chance your flowers came from Kenya. "I know the flowers are for giving on Valentine's Day," said Phanice Cherop, a worker at a flower farm in Kenya. Such conditions have helped make Kenya become the world's fourth-biggest supplier after the Netherlands, Ecuador and Colombia.

  • LISBON, Portugal— He doesn't boast about being an expert deal-maker like Donald Trump, but new Portuguese Prime Minister Antonio Costa is quietly building a reputation as a canny negotiator and a government leader to watch in southern Europe by doing what many people thought was impossible. Critics says Costa is making high-stakes gambles: already, his budget...

  • LONDON, Feb 12- European shares rebounded on Friday as Deutsche Bank and Commerzbank rallied, helping stock markets to partly recover from the week's losses. But Deutsche Bank gained 9.6 percent on Friday after saying it would buy back more than $5 billion in senior debt, easing concern about its bonds. Germany's DAX advanced 2.2 percent, although it remains...