Mon11242014

LAST_UPDATESun, 23 Nov 2014 8pm

OPEC Split On Direction After Revenues Slashed Over Crude Prices Drop

A general view shows an oil refinery in Zawia, 55km west of Tripoli. Exports from Libya plummeted this year as political strife and labour protests shut oil fields, refineries and ports. — Reuters picVIENNA— The OPEC oil producers cartel will hold one of its toughest and most significant meetings in recent years as, faced with sliding prices, its members must contemplate whether to cut output.

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Five Of 16 Listed Chinese Banks Raise Deposit Rates To Ceiling

The five biggest listed lenders — Industrial & Commercial Bank of China Ltd, China Construction Bank Corp, Agricultural Bank of China Ltd, Bank of China Ltd and Bank of Communications Co — are offering 3 per cent, compared with the 2.75 per cent benchmark. — Reuters pic SHANGHAI— Five of 16 listed Chinese banks raised their one-year deposit rates to the ceiling of the regulatory benchmark, in a mixed response by lenders to China’s latest interest rate liberalisation.

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Iran May Propose OPEC Oil-Output Cut In Saudi Meeting, Reports Mehr News

The drop in Brent crude, with the global benchmark trading at less than US$80 (RM268.44) a barrel last week, has prompted speculation that OPEC may decide to cut production to eliminate surplus supply. — Reuters pic DUBAI— Iran may propose that OPEC cuts its output target by as much as 1 million barrels a day to prop up prices when the country’s oil minister meets his Saudi counterpart as the group gathers this week, Mehr News reported.

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Judge Approves US$450m Deal In Apple Ebook Suit

File Pic: www.niagarafallsreview.caSAN FRANCISCO: A US judge signed off Friday on Apple's US$450 million legal deal to compensate consumers harmed by an illegal price-fixing conspiracy for electronic books.

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Asian Rubber Producers Agree To Manage Exports To Fight Oversupply

Top Asian rubber producers have agreed to "manage" exports to international markets to curb excess supply, although analysts said the step would have little impact on battered prices without a robust pickup in demand. Benchmark rubber prices have fallen a quarter this year, standing just above five-year lows plumbed last month amid a supply glut deepened by a slowing economy in top consumer China.

Read more: Asian Rubber Producers Agree To Manage Exports To Fight Oversupply

Why I Quit Jpmorgan To Start A Jetpack Business

In 2011, Dean O'Malley walked away from a high-paying job with no plans for the future, other than to escape the world of finance.

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'Candy Doll Collection' On Yahoo Japan Is Less Innocent Than It Sounds

Photographer: Lindsay Miles/Getty ImagesWhen Tokyo mothers recently searched Amazon Japan’s website for Halloween “candy,” they got a shock: pictures of scantily clad pre-pubescent girls popped up on their screens.

Read more: 'Candy Doll Collection' On Yahoo Japan Is Less Innocent Than It Sounds

Chinese Premier Urges ‘New Growth Engines’ Amid Slowing Economy

Chinese Premier Li Keqiang encouraged Chinese manufacturers to expand overseas, establish strong, world-renowned brands, and launch more innovative ‘Created-in-China’ products and services. — Reuters pic BEIJING— Chinese Premier Li Keqiang has called for “new growth engines” to counter slowing growth in the world’s second largest economy, Xinhua reported late yesterday.

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RBS Admits Blunder In EBA Stress Test, Among UK’s Weakest Banks

Revised figures revealed yesterday showed that instead of passing the test easily as initial results from the exercise showed, the state-owned RBS had narrowly scraped through and was the weakest performer among Britain's banks. — Reuters picLONDON― The Royal Bank of Scotland has accepted that it got its sums wrong over the European Banking Authority stress tests last month.

Read more: RBS Admits Blunder In EBA Stress Test, Among UK’s Weakest Banks

China Seen Reducing Rates Again After Last Cut

The world's second-largest economy, China is due to record its weakest annual growth since 1990. — AFP picBEIJING— China is poised to deliver deeper interest rate cuts after yesterday’s unexpected decision to reduce borrowing costs for the first time since 2012.

Read more: China Seen Reducing Rates Again After Last Cut