Exclusive: Russia expects to recover far less from 'bad bank' assets – sources

Russia will dramatically cut its estimate of the sum it expects to recover from a “bad bank” set up after the collapse of three major lenders, according to three sources familiar with new calculations being prepared for the central bank. The central bank has spent over $40 billion bailing out Otkritie, B&N and Promsvyazbank since 2017. It had hoped to recover between 40 and 60 percent of the value of their 2 trillion rubles ($30.45 billion) assets that were transferred to Trust Bank, the bad bank, in the rescue deal.

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Exclusive: Russia expects to recover far less from 'bad bank' assets – sources

General Motors’ Finance Arm Joins Blockchain Data Security Initiative

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General Motors’ Finance Arm Joins Blockchain Data Security Initiative

Russia to decide in April-May if global oil deal should be extended: TASS

MOSCOW (Reuters) – Russia will decided in April or May whether an agreement on global oil output cuts between OPEC and non-OPEC producers, set to end on June 31, should be extended, TASS news agency quoted Russian Energy Minister Alexander Novak as saying on Saturday.

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Russia to decide in April-May if global oil deal should be extended: TASS

Oil prices stabilize after Fed hike as tighter market looms

By Henning Gloystein SINGAPORE (Reuters) – Oil prices stabilized on Thursday as a tighter market looms in 2017 due to planned output cuts led by OPEC and Russia, after sharp declines earlier following Wednesday's U.S. interest rate increase that drove investors out of commodities. International Brent crude oil futures were trading at $54.02 a barrel at 0428 GMT, up 12 cents from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were at $51.02 per barrel, virtually flat with their last settlement.

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Oil prices stabilize after Fed hike as tighter market looms

McDonald’s to move international tax base to UK amid EU scrutiny

McDonald's said it would create a new international holding company domiciled in the UK that would receive the majority of royalties from licensing deals outside the United States. “We are aligning our corporate structure with the way we do business, which is no longer in geographies, but in segments that group together countries with common market and growth characteristics,” McDonald's said in a statement. The move will also help to cut costs, McDonald's said.

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McDonald’s to move international tax base to UK amid EU scrutiny

Only five non-OPEC producers so far attending talks to widen output cut

By Alex Lawler and Rania El Gamal LONDON/DUBAI (Reuters) – Only five of 14 non-OPEC oil producers have agreed so far to meet the group on Saturday for talks aimed at widening a deal to reduce output, casting doubt on whether OPEC will secure the full cuts it is seeking, two OPEC sources said. The last time non-OPEC countries joined the organization in cutting output, in late 2001 as prices dropped in the aftermath of the Sept. 11 attacks, non-members promised cuts of 462,000 barrels per day, not quite the 500,000 bpd OPEC then sought. Currently, Russia has said it will cut 300,000 bpd, meaning other non-OPEC producers combined will need to pledge the same amount to lower output by the 600,000 bpd OPEC wants – half the reduction OPEC is making.

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Only five non-OPEC producers so far attending talks to widen output cut

Deutsche Bank’s ‘smoking gun’ evidence to expand U.S. silver rigging case

Lawyers for investors accusing several major banks of conspiring to rig silver prices are seeking to add five new defendants to the case, based what they call “smoking gun” evidence they obtained from Deutsche Bank AG following a settlement. In papers filed in Manhattan federal court on Wednesday, the lawyers sought to revive previously-dismissed claims against UBS AG and add Barclays Plc , BNP Paribas SA , Standard Chartered Plc and Bank of America Corp as defendants.

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Deutsche Bank’s ‘smoking gun’ evidence to expand U.S. silver rigging case

Oil prices surge, smash trading volume records as OPEC, Russia agree output cut

Oil prices shot up more than 12 percent, smashing trading volume records, after producer club OPEC and Russia cut a deal to reduce output to drain a global supply glut, but analysts warned prices could recede as other producers stand by to fill the gap. The Organization of the Petroleum Exporting Countries (OPEC)agreed on Wednesday its first oil output reduction since 2008 after de-facto leader Saudi Arabia accepted “a big hit” and dropped a demand that arch-rival Iran also slash output. The deal also included the group's first coordinated action with non-OPEC member Russia in 15 years.

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Oil prices surge, smash trading volume records as OPEC, Russia agree output cut

Oil prices surge, smash trading volume records as OPEC, Russia agree output cut

Oil prices shot up more than 12 percent, smashing trading volume records, after producer club OPEC and Russia cut a deal to reduce output to drain a global supply glut, but analysts warned prices could recede as other producers stand by to fill the gap. The Organization of the Petroleum Exporting Countries (OPEC)agreed on Wednesday its first oil output reduction since 2008 after de-facto leader Saudi Arabia accepted “a big hit” and dropped a demand that arch-rival Iran also slash output. The deal also included the group's first coordinated action with non-OPEC member Russia in 15 years.

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Oil prices surge, smash trading volume records as OPEC, Russia agree output cut

Wall St. posts big Nov gains; mostly dips on day despite energy

Energy shares jumped with oil prices after OPEC agreed to cut production. Bank shares also rose after comments by Steven Mnuchin, President-elect Donald Trump's pick for U.S. Treasury secretary, told CNBC that tax reforms and trade pact overhauls would be top priorities of the new administration. Bank of America gained 4.5 percent, while Goldman Sachs ended up 3.6 percent and hit a high of $220.77, its best level since the financial crisis.

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Wall St. posts big Nov gains; mostly dips on day despite energy