Russia’s richest man responds to Putin’s call to bring assets home

MOSCOW (Reuters) – Russia’s richest man Alisher Usmanov has transferred his holdings in mobile operator Megafon and iron ore producer Metalloinvest to Russian entities after President Vladimir Putin urged businessmen to bring their assets home. Putin redoubled his efforts to encourage businessmen to “de-offshore” their assets on Thursday in his annual end-of-year news conference, as […]

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Oil plunges 3 percent to new five-year lows after bearish IEA outlook

By Barani Krishnan NEW YORK (Reuters) – Crude oil markets fell 3 percent or more to plumb new five-year lows on Friday after the world’s energy watchdog forecast even lower prices on weaker demand and larger supplies next year. Benchmark Brent oil settled at below $62 a barrel and U.S. crude slumped to under $58 […]

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U.S. oil extends dive, settles below $60 for first time since ’09

(Reuters) – U.S. crude futures fell below $60 a barrel on Thursday, the first time in five years that it breached the psychologically-important support, as oil markets extended this week’s losses on oversupply concerns. New York Mercantile Exchange’s front-month West Texas Intermediate contract for U.S. crude was down 96 cents at $59.98 a barrel by […]

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Rebound rally: Stocks pare losses as traders shrug off global woes

By Caroline Valetkevitch NEW YORK (Reuters) – The Dow and SP 500 fell on Tuesday following concerns about global weakness and political turmoil, while the Nasdaq edged higher along with tech shares and energy. All three indexes pared losses after midday, with the SP 500 cutting its decline in half. Apple (AAPL.O) shares were up […]

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Ukraine expects Russian gas supplies to resume Monday: minister

KIEV (Reuters) – Ukraine expects Russia to resume supplies of gas from Monday after Kiev transferred a pre-payment of $378 million to Gazprom, its energy minister said on Sunday. Russia cut gas deliveries to Ukraine in mid-June in a dispute over prices and debts and supplies have remained suspended while the haggling played out against […]

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Bulls in control: Dow closes week at record high

By Caroline Valetkevitch NEW YORK (Reuters) – An unusually strong U.S. jobs report lifted the dollar to a five-and-a-half-year high against a basket of currencies on Friday and drove stocks higher, led by financial shares. U.S. bond prices dropped, with the yield on U.S. two-year Treasuries (US2YT=RR) hitting the highest level since May 2011, as […]

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2% to 3% growth feels perpetual: Wal-Mart CEO

Wal-Mart (WMT) CEO Doug McMillon told CNBC on Wednesday the U.S. economy does not seem to be picking up that much stream. “This 2 percent to 3 percent growth range number just feels like it’s kind of perpetual,” he said on ” Squawk Box ” from the Business Roundtable meeting in Washington, D.C. “We’re kind […]

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Oil futures rebound from five-year low after OPEC slump

West Texas Intermediate rebounded from the lowest level in more than five years as the market selloff prompted by OPEC’s failure last week to curb production took a pause. Futures in New York rose the most in more than two years and Brent jumped 3.4 percent in London. Both grades had their biggest monthly loss […]

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Ahead of rate meeting, ECB’s Lautenschlaeger sees very high hurdles to more easing

By Andreas Framke BERLIN (Reuters) – ECB Executive Board member Sabine Lautenschlaeger said on Saturday she saw little room for further easing of monetary policy despite a further fall in euro zone inflation. She added that the effects of large scale sovereign bond buying would not be positive. “For me, given the current situation, the […]

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Toyota recalls more cars for dangerous Takata air bags

By Chang-Ran Kim and Mari Saito TOKYO (Reuters) – Toyota Motor Corp said on Thursday it would recall 57,000 vehicles globally to replace potentially deadly air bags made by Takata Corp, as a safety crisis around the Japanese auto parts maker looks far from being contained. Toyota’s action follows a recall by rival Honda Motor […]

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