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(MENAFN - AFP) Brazil's Petrobras promised belt-tightening and house-cleaning Thursday after Moody's rating agency this week downgraded the scandal-plagued oil giant for a fourth time in as many months.

Petrobras said that it also would release, "as soon as possible, transparent and reliable" verified 2014 earning results to restore investor confidence after repeated delays.

The ...

(MENAFN - AFP) European stocks pushed higher Thursday, with London's benchmark FTSE 100 index and Frankfurt's DAX 30 index hitting record high closing levels as chances of a quick US interest rate hike recede.

The FTSE 100 rose 0.21 percent to 6,949.73 points, beating by a whisker the level set Tuesday when it broke a 15-year record.

Meanwhile the DAX 30 index shot ...

(MENAFN - AFP) Hong Kong tycoon Li Ka-shing's two main companies Thursday said earnings nearly doubled in 2014 to their highest point this century, in their last results ahead of a revamp of his vast business empire.

Hutchison Whampoa, which controls assets ranging from ports to telecommunications, said net profit more than doubled to HK$67.16 billion ($8.66 billion) up ...

(MENAFN - AFP) ExxonMobil said Thursday that US and European Union sanctions against Russia could cost the US oil giant as much as $1 billion.

Exxon "wound down" last year a number of prohibited joint venture activities with Russian oil major Rosneft in the Black Sea, Arctic regions and onshore western Siberia, the company said in its annual report to regulators.

The ...

(MENAFN - AFP) World oil prices fell Thursday, after solid gains the previous day, as dealers fretted again over swelling US crude inventories adding to the global supply glut.

European benchmark Brent North Sea crude for April delivery dipped 63 cents to $61.00 per barrel in London late afternoon deals.

New York's West Texas Intermediate (WTI) for April dived $1.72 ...

(MENAFN - AFP) The music industry has announced an agreement to release albums globally on Fridays, ending divergences among regions that have fueled piracy in an age of instant music.

Key groups representing music retailers, record companies and artists said that they would coordinate album releases to go out everywhere each Friday at one minute past midnight local time.

Thursday's ...

(MENAFN - AFP) Britain's troubled Standard Chartered announced Thursday the exit of its top two bosses in a radical management reshuffle, as the Asia-focused bank battles to transform its fortunes.

The lender, facing sliding profits, slowing growth in emerging markets, and scandals including the alleged violation of US sanctions on Iran, said in a statement that chief executive ...

(MENAFN - AFP) Like a luxurious chocolate pudding, the Fendi autumn/winter 2015 show left Italy's fashion world drooling Thursday with its sumptuous suede and leather creations and bird of paradise bags.

The Roman fashion house under creative director Karl Lagerfeld -- present in his trademark dark glasses -- upheld its reputation for multi-fabric outfits, with patchwork ...

(MENAFN - AFP) Ireland on Thursday became the first European Union member state to pass a law introducing mandatory plain packaging for tobacco products, prompting the tobacco industry to threaten legal action.

Under the new rules all forms of branding, including logos and colours will be banned and all products will have have a uniform packaging with graphic health warnings.

"We ...

(MENAFN - AFP) Gingerly treading between its anti-austerity promises to voters and its pledges to sceptical international creditors, Greece's new radical government is resorting to doublespeak to keep everyone happy, analysts say.

After persuading Brussels this week to chew on its reform proposals over the next two months, the Syriza-led government has touted the agreement ...

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