Finance news

• British Columbia approves C$8.8 bln hydroelectric dam

  16-12-2014 23:58
  VANCOUVER, Dec 16 (Reuters) - British Columbia will go ahead with building the Site C hydroelectric dam in the Western Canadian province, Premier Christy Clark said on Tuesday, even as the project's...
  
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• UPDATE 2-Unions, retirees sue to block Chicago pension changes

  16-12-2014 23:58
  (New throughout, adds Illinois pension reform litigation and recent rulings, comment from union spokesman)
  
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• GLOBAL MARKETS-Oil falls, stocks waver in hectic trade as Fed meets

  16-12-2014 23:39
  * Investors snap up beaten-down shares but Wall St ends lower
  
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• UPDATE 7-Repsol to buy Talisman Energy for hefty premium

  16-12-2014 23:30
  * Talisman board recommends shareholders accept offer (Recasts, adds Talisman CEO comments, updates share price)
  
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• White House: ruble plunge has Russia between 'rock and hard place'

  16-12-2014 23:21 via news.yahoo.com
  
  WASHINGTON (Reuters) - Russia's rouble crisis has put Moscow's economic policy "between a rock and a hard place," but the impact on the United States should be limited, President Barack Obama's top economist told reporters on Tuesday.
  
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• U.S. bank watchdogs implement ISDA stay provision for swaps

  16-12-2014 23:15
  WASHINGTON, Dec 16 (Reuters) - U.S. bank regulators on Tuesday issued a rule to allow a stay in terminating derivative contracts if a bank lands in trouble, a provision needed to help them wind down...
  
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• Wall St. falls third session, led by tech, discretionaries

  16-12-2014 23:07 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks fell for a third day in a volatile session Tuesday, led by declines in consumer discretionary and technology shares, while another drop in the Russian rouble added to worries about the global economy.
  
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• UPDATE 1-American Apparel names new CEO, officially ousts founder

  16-12-2014 23:02
  Dec 16 (Reuters) - American Apparel Inc has officially fired its founder and former Chief Executive Officer Dov Charney, months after it suspended him for misconduct, according to a news release...
  
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• Vanguard's stockpickers outperform despite firm's passive push

  16-12-2014 22:55
  
  NEW YORK (Reuters) - Vanguard Group became the largest U.S. fund manager by assets by persuading investors that they don't need to pay for a stock picker. Yet a funny thing happened along the way:...
  
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• An early rally fizzles, leaving US indexes lower

  16-12-2014 22:55 via news.yahoo.com
  
  NEW YORK (AP) — Sudden twists in the price of oil and currency trading turned the stock market into a roller-coaster ride on Tuesday.
  
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• Talisman Energy and Salix are big market movers

  16-12-2014 22:52 via news.yahoo.com
  
  Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Talisman Energy Inc., up $2.46 to $7.58 Spanish energy company Repsol is buying ...
  
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• Obama backs bill imposing new sanctions on Russia

  16-12-2014 22:25 via news.yahoo.com
  
  WASHINGTON (AP) — President Barack Obama will sign legislation imposing new economic sanctions on Russia, the White House said Tuesday, as the U.S. claimed some credit for sparking Moscow's roiling currency crisis and moved to deepen the pain.
  
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• EU's Juncker cuts new laws to slash red-tape

  16-12-2014 22:23 via news.yahoo.com
  
  New EU executive head Jean-Claude Juncker told lawmakers Tuesday he would cut dozens of proposed laws stuck in the byzantine Brussels process, in an effort to trim red tape. "Europe's big priorities are growth and jobs," Juncker told the European Parliament as he unveiled the commission's top goals for 2015. Juncker's commission aims to boost the economy and win back an increasingly sceptical public alienated by Brussels bureaucracy. Juncker's European Commission, w
  
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• Wall St. falls in volatile session, energy stocks up

  16-12-2014 22:15 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks fell for a third straight session in volatile trading on Tuesday, led by declines in consumer discretionary and technology shares, while a drop in the Russian rouble added to worries about the global economy.
  
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• John Levitske joins Houlihan Lokey as managing director

  16-12-2014 21:41
  (Reuters) - Investment bank Houlihan Lokey appointed John Levitske as a managing director to its dispute resolution and financial expert opinions practice.
  
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• China steps up plan for new export corridor into Europe

  16-12-2014 21:03 via news.yahoo.com
  
  Chinese Prime Minister Li Keqiang met central and eastern European leaders Tuesday in a summit to cement Beijing's plans for a new transport network to funnel exports into Europe. The two-day meeting in Belgrade gathering prime ministers from 16 states had infrastructure and transport top of the agenda. Beijing hopes to turn the Greek port of Piraeus -- where the Chinese shipping giant Cosco has a 35-year concession to hugely expand its two container terminals -- into a new hub for trade wi
  
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• GE expects 2015 industrials units profit to rise at least 10 pct

  16-12-2014 21:02
  NEW YORK, Dec 16 (Reuters) - General Electric Co said it expects profit from its industrial units to rise by at least 10 percent in 2015, as the conglomerate cuts reliance on its financial services...
  
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• COLUMN-After election, Abenomics to fail fair test: James Saft

  16-12-2014 21:00
  (James Saft is a Reuters columnist. The opinions expressed are his own)
  
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• White House: rouble plunge has Russia between 'rock and hard place'

  16-12-2014 20:52 via news.yahoo.com
  
  WASHINGTON (Reuters) - Russia's rouble crisis has put Moscow's economic policy "between a rock and a hard place," but the impact on the United States should be limited, President Barack Obama's top economist told reporters on Tuesday.
  
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• UPDATE 3-Kerry says Russia sanctions could end if Putin takes right steps

  16-12-2014 20:48
  LONDON, Dec 16 (Reuters) - Russia has made constructive moves in recent days towards reducing tensions in Ukraine, U.S. Secretary of State John Kerry said on Tuesday and raised the possibility that...
  
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• Exclusive: Citgo valued at more than $10 billion in revised bids - sources

  16-12-2014 20:40
  
  (Reuters) - Citgo Petroleum Corp, Venezuela's U.S. oil refining unit, has received revised bids from at least four bidders, some which have valued the company at more than $10 billion, according to...
  
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• Dow, S&P 500 edge up as energy shares rebound; Nasdaq slips

  16-12-2014 20:20 via news.yahoo.com
  
  NEW YORK (Reuters) - The Dow and S&P 500 were holding onto small gains in volatile trading Tuesday afternoon, helped by a rebound in energy shares and investor bets the Federal Reserve will be cautious in removing support in the face of a more fragile global economy.
  
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• Exclusive: India's ONGC, PDVSA aim to raise around $1 billion for Venezuela JV - sources

  16-12-2014 20:00
  
  CARACAS/ NEW DELHI (Reuters) - India's Oil and Natural Gas Corp and Venezuela's state oil company PDVSA are seeking around $1 billion in credit to stem an output decline at their San Cristobal joint...
  
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• UPDATE 1-Coeure sees "large consensus" at ECB for more action

  16-12-2014 19:57
  PARIS, Dec 16 (Reuters) - There is a broad consensus on the European Central Bank's governing council in favour of more action to revive the economy and a decision on what tools to use could come...
  
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• Bank of Cyprus begins trading with a bump

  16-12-2014 19:30 via news.yahoo.com
  
  Cyprus's largest lender returned to the Nicosia and Athens stock markets Tuesday after a 21-month absence following a banking crisis that brought the island's economy to its knees. The shares began with a dip before losing even more ground to close the day down 25 percent at 18 euro cents on the Cyprus Stock Exchange. In March last year, Cyprus clinched a 10-billion-euro ($13 billion) loan from the European Union and International Monetary Fund to bail out its troubled economy and over
  
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• Austria's Raiffeisen is looking to sell Polish unit - sources

  16-12-2014 19:21
  WARSAW/VIENNA (Reuters) - Eastern-Europe focused Austrian lender Raiffeisen Bank International (RBI) is looking to sell Raiffeisen Polbank, Poland's eighth-largest lender by assets, three market...
  
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• Energy rally boosts Wall St. despite global growth woes

  16-12-2014 19:12 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks rose in a volatile Tuesday session as energy shares rallied and investors bet the Federal Reserve will be cautious in removing support in the face of a more fragile global economy.
  
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• Russia not considering capital controls: economy minister

  16-12-2014 19:01 via news.yahoo.com
  
  The Russian government is not considering strict capital control measures to limit purchases of foreign currency, economy minister Alexei Ulyukayev said after an emergency meeting over the rapidly sliding ruble. The subject "was not discussed" as a possible solution to the ongoing currency crisis, which saw the Russian ruble lose 20 percent of its value in the course of a day, despite a massive rate hike by the central bank. "Our actions will be directed at ensuring better balance
  
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• Orange executive sees BT/EE deal closing by early 2016

  16-12-2014 19:00
  
  PARIS (Reuters) - British telecoms group BT's plan to buy UK mobile operator EE for 12.5 billion pounds ($19.7 billion) should be completed by end-2015 or early 2016, said a senior executive of...
  
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• Dollars still on sale on Russian streets, but they will cost you

  16-12-2014 18:56
  MOSCOW, Dec 16 (Reuters) - The official exchange rate was still in the 60s, and the sign on the currency exchange kiosk's door said there were U.S. dollars on sale at 80 roubles. The woman at the...
  
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• US stocks rise as Russian ruble, oil stabilize

  16-12-2014 18:55 via news.yahoo.com
  
  NEW YORK (AP) — Crude oil prices steadied Tuesday afternoon, giving a lift to energy stocks and pushing the U.S. stock market up.
  
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• Repsol to buy Talisman Energy for $13 billion

  16-12-2014 18:53
  
  MADRID (Reuters) - Spain's Repsol has agreed to buy Talisman Energy , Canada's fifth-largest independent oil producer, for $13 billion as the drop in oil prices pushes energy companies to take the...
  
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• UPDATE 1-Ex-Sony employees sue, claim company failed to protect data

  16-12-2014 18:52
  (Adds background on hacking episode and details on lawsuit)
  
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• Catalan statesman Pujol to testify in court in tax probe

  16-12-2014 18:52
  MADRID, Dec 16 (Reuters) - The former president of Catalonia, who became a figurehead for the region and its independence drive during 23 years in power, is to testify in court alongside some of his...
  
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• Former SAC manager Orenstein joins SAC alum Sapanski at Scoria

  16-12-2014 18:51
  BOSTON, Dec 16 (Reuters) - A former top portfolio manager for Steven A. Cohen's now-defunct SAC Capital Advisors hedge fund is joining Scoria Capital, a hedge fund founded by another SAC...
  
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• UPDATE 1-Permira shelves plans to make counter-bid for Hawesko - source

  16-12-2014 18:51
  FRANKFURT, Dec 16 (Reuters) - Buyout group Permira has shelved plans to make a counter-bid for Hawesko as the German wine seller seeks to fend off an offer from 31-percent shareholder Detlev Meyer, a...
  
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• Cheap oil, weak euro boost German investor sentiment

  16-12-2014 18:50 via news.yahoo.com
  
  Investor sentiment in Germany rose sharply again in December driven by a weak euro and plunging oil prices, a survey found on Tuesday, underlining a sunnier outlook for Europe's top economy. The widely watched investor confidence index calculated by the ZEW economic institute jumped by 23.4 points in December, after increasing for the first time this year in November, ZEW said in a statement. It said there was abundant evidence that faith in Germany among financial market experts was being
  
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• European shares stage late rebound as rouble recovers

  16-12-2014 18:39
  LONDON, Dec 16 (Reuters) - European shares staged a late rebound on Tuesday as the Russian rouble recovered a good chunk of the day's losses against the dollar and oil prices also gained ground.
  
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• Market turmoil feeds fears of Russia rating cuts

  16-12-2014 18:35
  LONDON, Dec 16 (Reuters) - A rout in Russian financial markets has raised concerns that the country may struggle to hold on to its investment grade credit rating.
  
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• Energy rally boosts Wall Street despite global growth woes

  16-12-2014 18:29 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - U.S. stocks rose in a volatile Tuesday session as energy shares rallied and investors bet the Federal Reserve will be cautious in removing support in the face of a more fragile global economy. Futures had crumbled in early trading as the ruble neared 80 per U.S. dollar, down 21 percent for the session. The Russian currency sharply pared its losses and was down about 3 percent, near 68 per dollar. Market participants cited bets on the Federal Reserve's
  
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• UPDATE 2-Cyclacel lead drug likely to fail trial, says safety board

  16-12-2014 18:25
  * Shares hit record low of 70 cents (Adds CEO comment, details; updates shares)
  
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• Ex-Sony employees sue, claim company failed to protect data

  16-12-2014 18:23
  Dec 16 (Reuters) - Sony Pictures Entertainment Inc has been sued in a class action by two people who described themselves as former employees and accused the company of failing to protect employee...
  
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• Formation 8 venture capital firm adds new partner in Singapore

  16-12-2014 18:15
  SAN FRANCISCO, Dec 16 (Reuters) - Formation 8, the venture-capital firm known for backing virtual-reality company Oculus VR, said it was beefing up its Asian operations by adding a partner in...
  
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• Russia raises rates in emergency move as ruble collapses

  16-12-2014 18:14 via news.yahoo.com
  
  MOSCOW (Reuters) - Russia's central bank raised its key interest rate to 17 percent from 10.5 percent early Tuesday in an emergency move to halt a collapse in the rouble as oil prices decline and the country's sanctions-hit economy slides toward recession. The ruble strengthened sharply after the decision, recouping some of its heavy losses on Monday, when the currency staged its largest one-day fall since 1998. Russia has raised the key rate a total of 11. ...
  
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• Energy stocks rebound in US as oil price recovers

  16-12-2014 18:00 via news.yahoo.com
  
  NEW YORK (AP) — Energy companies are leading a rebound in the U.S. stock market as the price of oil turns higher.
  
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• WRAPUP 2-U.S. housing starts fall, but trend points to recovery

  16-12-2014 17:58
  (Adds manufacturing data, analyst comments, updates markets)
  
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• Finmeccanica says has received Insigma offer for rail unit

  16-12-2014 17:48
  MILAN (Reuters) - Italian aerospace and defense group Finmeccanica said on Tuesday it had received an offer from the Chinese group Insigma for its train-making unit AnsaldoBreda.
  
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• Investors pare bullish Treasuries bets before FOMC: survey

  16-12-2014 17:37
  NEW YORK (Reuters) - Investors reduced holdings in longer-dated U.S. Treasuries ahead of a two-day meeting of the Fed's policy setting group which analysts say might signal intention to raise...
  
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• Three groups seen competing for Holcim-Lafarge assets - sources

  16-12-2014 17:36
  FRANKFURT/LONDON, Dec 16 (Reuters) - The battle for the assets cement firms Lafarge and Holcim must sell to get the go-ahead for their merger will likely be between three groups, several people...
  
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• EU bosses to focus pared-down agenda on growth, jobs, energy

  16-12-2014 17:34
  BRUSSELS, Dec 16 (Reuters) - EU policymakers promised on Tuesday to focus on core issues such as jobs and growth as they unveiled legislative plans for 2015, but drew charges they had sacrificed the...
  
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