Finance news

• U.S. tightens sanctions against North Korea's U.N. diplomats

  20-12-2016 23:08 via news.yahoo.com
  
  By Joel Schectman WASHINGTON (Reuters) - The U.S. Treasury Department tightened sanctions against North Korean diplomats to the United Nations, requiring banks to get special permission before granting them accounts, the agency said in a notice posted online Tuesday. The United States removed an exemption in the broad economic sanctions against Pyongyang that had allowed U.S. banks to service North Korean diplomats without getting specific permission from the Treasury Department Office of Foreig
  
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• FedEx earnings miss expectations as expenses rise

  20-12-2016 22:43 via news.yahoo.com
  
  NEW YORK (AP) — FedEx reported second-quarter earnings that missed Wall Street expectations as the shipping company's expenses soared.
  
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• Iraq gets new World Bank loan to cope with low oil price, war on Islamic State

  20-12-2016 22:40 via news.yahoo.com
  
  By Ahmed Rasheed and Maher Chmaytelli BAGHDAD (Reuters) - The World Bank has approved a new loan of $1.485 billion to help Iraq lessen the impact of low oil prices on its economy and shoulder the cost of the war on Islamic State, the international lender said in a statement on Tuesday. The new loan brings the World Bank’s engagement in Iraq to nearly $3.4 billion, it said. The lightning advance of Islamic State happened as oil prices collapsed, drastically reducing the government's income,
  
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• Nasdaq rises to record, Dow bats eyes at 20,000

  20-12-2016 22:35 via news.yahoo.com
  
  The Dow Jones industrial average ended just 25 points shy of 20,000, a level it has never breached, helped by a 1.68 percent gain in Goldman Sachs . U.S. stocks have been on a tear since the Nov. 8 presidential election, with the Dow up 9 percent and the S&P 500 gaining 6 percent on bets that Trump's plans for deregulation and infrastructure spending will boost the economy. Some investors believe stocks have become expensive.
  
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• Stakes high as North Carolina considers repealing 'bathroom law'

  20-12-2016 21:53 via news.yahoo.com
  
  Now the Republican-led state legislature, which earlier this year rushed through the measure in a single day, could make it all go away. Outgoing Republican Governor Pat McCrory has summoned lawmakers for a special session on Wednesday to reconsider the law that made North Carolina the first U.S. state to bar transgender people from government-run restrooms that match their gender identity, the latest flashpoint in the culture wars over gay rights. In the nine months since it passed, the law has
  
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• Wall Street hits record highs, dollar rises to 14-year peak

  20-12-2016 20:52 via news.yahoo.com
  
  By Dion Rabouin NEW YORK (Reuters) - U.S. equities touched record highs on Tuesday and the dollar hit a fresh 14-year peak as markets shrugged off risk aversion following attacks in Turkey and Germany. On Wall Street the Dow and Nasdaq reached record intraday highs, with the blue-chip index nearing the 20,000 level. European stocks steadied as reassurance over Italy's plan to spend up to 20 billion euros ($21 billion) to rescue its troubled banks overtook uncertainty over the attacks. ...
  
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• Dow extends rally, flirts with 20,000 milestone

  20-12-2016 20:45 via news.yahoo.com
  
  The Nasdaq and the Dow Jones industrial average had hit fresh intra-day records, with the blue-chip index just 37 points short of scaling the historic mark. Goldman Sachs , which was up 1.8 percent, gave the biggest boost to the Dow. U.S. stocks have been on a tear since the Nov. 8 presidential election, with the Dow up 9 percent and the S&P 500 gaining more than 6 percent on bets that Trump's plans for deregulation and infrastructure spending will boost the economy.
  
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• Russia claims ex-Deutsche Bank trader rigged markets

  20-12-2016 19:59 via news.yahoo.com
  
  Russia's central bank on Tuesday said a former Deutsche Bank trader allegedly gained millions of dollars by illegally manipulating the stock markets in the country. Yuri Khilov, the ex-head of the bank's Russian trading desk, and his relatives are alleged to have pocketed large amounts of money at the expense of the German lender, the central bank said on its website. Central bank official Valery Lyakh separately told journalists that the amount in question was about 255 million rubles ($4.2 mil
  
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• Special Report: How dependence on tax breaks corroded Puerto Rico's economy

  20-12-2016 18:40 via news.yahoo.com
  
  By Nick Brown ARECIBO, Puerto Rico (Reuters) - Prudo Jimenez was born on a sugar farm here in 1941, when agriculture ruled Puerto Rico’s economy. The peppy 75-year-old personifies an economic development movement designed to transform a generation from poor farmers to industry leaders. Carlos Jimenez, 48, and Anjoe, 50, each started businesses only to see them go under in a decade-long economic slump that continues today.
  
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• Europe, US equities unfazed by deadly attacks

  20-12-2016 18:31 via news.yahoo.com
  
  London (AFP) - European stock markets churned higher on Tuesday unfazed by deadly attacks in Europe and Wall Street edged higher towards the 20,000 points level on the Dow.
  
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• Britain sets 2017 Spring budget date for March 8

  20-12-2016 18:29 via news.yahoo.com
  
  LONDON (Reuters) - British finance minister Philip Hammond said on Tuesday the government will publish its next Spring Budget on Wednesday 8 March 2017. The Spring Budget sets out the government’s plans for the economy based on the latest forecasts from the independent Office for Budget Responsibility. This will be the last Budget to take place in the Spring before they are moved to the Autumn. (Reporting by Stephen Addison; editing by Elizabeth Piper)
  
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• U.S. prosecutors say Peruvian ran fraud out of Trump Building

  20-12-2016 18:02 via news.yahoo.com
  
  U.S. authorities on Tuesday arrested a Peruvian man who, to lure investors, posted an online video featuring the New York Stock Exchange and himself in front of the nearby Trump Building, where he had an office, on charges that he engaged in a $1.2 million fraud. Pedro Jaramillo, 47, raised funds from over two dozen investors since 2014, mainly to invest in commodity futures contracts with a promise of a guaranteed rate of return, according to a criminal complaint filed in Manhattan federal cour
  
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• Dow closing in on 20,000; Nasdaq hits record high

  20-12-2016 17:38 via news.yahoo.com
  
  Goldman Sachs , which was up about 1 percent, gave the biggest boost to the Dow. U.S. stocks have been on a tear since the Nov. 8 presidential election, with the Dow up 9 percent and S&P more than 6 percent on bets that President-elect Donald Trump's plans for deregulation and infrastructure spending will boost the economy. "It's just the momentum since the election," said Jeff Zipper, managing director for investments at Private Client Reserve at U.S. Bank in Palm Beach, Florida.
  
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• Dollar rises to 14-year peak as Wall Street hits record highs

  20-12-2016 17:11 via news.yahoo.com
  
  By Dion Rabouin NEW YORK (Reuters) - The dollar hit a 14-year high on Tuesday as the yen slid after the Bank of Japan stuck to its ultra-loose monetary policy, while U.S. stock indexes touched record highs as the rally in riskier assets since the U.S. election looked set to continue. On Wall Street, the Dow neared the 20,000 level as reassurance over Italy's plan to spend up to 20 billion euros ($21 billion) to rescue its troubled banks offset risk aversion following attacks in Turkey and German
  
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• Energy Future, senior creditors reach $800 mln bankruptcy deal

  20-12-2016 16:36
  
  WILMINGTON, Del., Dec 20 (Reuters) - Energy Future Holdings
  Corp and its senior creditors agreed to an $800 million deal
  aimed at bringing the owner of Texas's largest network of power
  lines works...
  
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• Stocks muted after fatal attacks in Europe

  20-12-2016 16:29 via news.yahoo.com
  
  London (AFP) - Stock markets struggled Tuesday as traders mulled the impact of deadly attacks in Europe but Wall Street opened higher, edging towards the 20,000 points level on the Dow.
  
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• Even as the center holds, Europe's minority governments struggle

  20-12-2016 16:21 via news.yahoo.com
  
  By Padraic Halpin and Julien Toyer DUBLIN/MADRID (Reuters) - Europe's growing number of shaky minority and coalition governments mostly managed to muddle through 2016 but their lack of political strength suggests they will not be pursuing many major policy initiatives in 2017. Opposition threats to flagship labor reforms in Spain and difficulties passing new residential rental laws in Ireland last week exposed the fragility of incumbents who returned to power this year but in a much weakened for
  
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• Exclusive: Financing hitches could delay Hapag Lloyd, UASC shipping tie-up - sources

  20-12-2016 16:04 via news.yahoo.com
  
  LONDON/FRANKFURT (Reuters) - A merger of German container shipping line Hapag-Lloyd and United Arab Shipping Company (UASC) is likely to take months to complete, partly due to financing issues blamed on a deep industry downturn, sources familiar with the deal say. Hapag-Lloyd signed a binding agreement with UASC in July to form the world's fifth-largest line, valued at about 7 to 8 billion euros ($7.2-$8.3 billion), by the end of 2016. Global container shipping is suffering its worst downturn ca
  
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• Dow closing in on 20,000

  20-12-2016 15:56 via news.yahoo.com
  
  Gains in financial stocks pushed the Dow to a record high and just 20 points short of 20,000, a level it has never touched. Goldman Sachs, which was up 2.2 percent, gave the biggest boost to the blue-chip index. Wall Street extended a recent rally on Monday but finished the session short of earlier highs as risk aversion set in following the killing of Russian ambassador to Turkey in Ankara and a truck attack in Germany.
  
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• Scotland wants EU market access, more powers as UK goes for Brexit

  20-12-2016 15:43 via news.yahoo.com
  
  By Elisabeth O'Leary EDINBURGH (Reuters) - Scotland wants to stay in the European Union's single market after the United Kingdom leaves the bloc and will push for more powers to protect its interests, the head of its pro-independence government said on Tuesday. Nicola Sturgeon said Scotland wants a deal that allows it access to the single market and free movement of the EU migrants that underpin its economy, its ageing population and its outlying rural communities. The Scottish devolved governme
  
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• 'Santa Claus isn't coming,' recession-hit Venezuelans tell kids

  20-12-2016 15:41 via news.yahoo.com
  
  By Andreina Aponte CARACAS (Reuters) - As a harrowing economic crisis makes food scarce for millions of Venezuelans, many families cannot buy their children Christmas presents, decorate their home, or even host a holiday dinner. With a recent currency depreciation pumping up prices even higher, some parents are simply canceling Christmas. "Last year I bought everything for my daughter," said Dileida Palacios, a 40-year-old hairdresser dressed in black to mourn her son killed in crime-rife Venezu
  
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• Markets eke out gains despite risk concerns over attacks

  20-12-2016 14:57 via news.yahoo.com
  
  LONDON (AP) — European stock markets eked out some modest gains Tuesday though the truck attack in Germany that killed at least 12 people and the assassination of the Russian ambassador to Turkey kept investor appetite for risk in check.
  
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• Wall Street set to open higher in cautious trading

  20-12-2016 14:47 via news.yahoo.com
  
  Wall Street looked set to open higher on Tuesday as investors appeared to have shrugged off the potential impact from increased political tensions following Monday's deadly attacks in Turkey and Germany. Wall Street extended a recent rally on Monday but finished the session short of earlier highs as risk aversion set in following the killing of Russian ambassador to Turkey in Ankara and a truck attack in Germany. "2016 is ending with tragic incidents in Turkey and Germany, but investors have bec
  
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• Dollar hits new 14-year high, Dow sets sights on 20,000

  20-12-2016 14:45 via news.yahoo.com
  
  By Marc Jones LONDON (Reuters) - The dollar hit a 14-year high on Tuesday as the yen fell after the Bank of Japan stuck to its ultra-loose monetary policy and the euro weakened following deadly attacks in Germany and Turkey. On Wall Street, the Dow appeared set for another run at 20,000 points, as concern after the attacks in Europe were offset by reassurance over Italy's plan to spend up to 20 billion euros ($21 billion) to rescue its troubled banks. On currency markets, a sense of caution afte
  
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• May and Murdoch did not discuss Sky bid at September meeting - minister

  20-12-2016 14:35 via news.yahoo.com
  
  Prime Minister Theresa May did not discuss with Rupert Murdoch the proposed takeover of UK pay-TV group Sky by the tycoon's Twenty-First Century Fox at a September meeting, Britain's media minister said on Tuesday. May had met Murdoch during a meeting in New York, three months before Fox launched its approach for Sky earlier in December. "She (May) had a pre-arranged meeting with Wall Street Journal editors," Secretary of State for Culture, Media and Sport Karen Bradley told parliament in reply
  
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• UK PM and Murdoch did not discuss Sky bid at September meeting: minister

  20-12-2016 14:31 via news.yahoo.com
  
  Prime Minister Theresa May did not discuss with Rupert Murdoch the proposed takeover of UK pay-TV group Sky by the tycoon's Twenty-First Century Fox at a September meeting, Britain's media minister said on Tuesday. May had met Murdoch during a meeting in New York, three months before Fox launched its approach for Sky earlier in December. "She (May) had a pre-arranged meeting with Wall Street Journal editors," Secretary of State for Culture, Media and Sport Karen Bradley told parliament in reply
  
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• UK PM and Murdoch did not discuss Sky bid at Sept. meeting -minister

  20-12-2016 14:28 via news.yahoo.com
  
  LONDON, Dec (Shanghai: 600875.SS - news) 20 (Reuters) - Prime Minister Theresa May did not discuss with Rupert Murdoch the proposed takeover of UK pay-TV group Sky (Frankfurt: 893517 - news) by the tycoon's Twenty-First Century Fox at a September meeting, Britain's media minister said on Tuesday. May had met Murdoch during a meeting in New York, three months before Fox launched its approach for Sky earlier in December. "She (Munich: SOQ.MU - news) (May) had a pre-arranged meeting with Wall Stree
  
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• World Bank lends Zambia $100 million to tackle mining pollution

  20-12-2016 14:26 via news.yahoo.com
  
  The World Bank has agreed to lend Zambia more than $100 million to reduce environmental health risks in polluted mining areas and support economic diversification. Mining is a major contributor to the economic growth of Zambia, Africa's second biggest copper producer, but it has left environmental problems in some mining towns. The World Bank said in a statement that $65.6 million would be spent on reducing environmental health risks and $40 million to support economic diversification through ag
  
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• BlackBerry ups outlook, adjusted earnings beat; shares rise

  20-12-2016 13:51 via news.yahoo.com
  
  BlackBerry Ltd posted another loss and a surprisingly sharp fall in revenue on Tuesday as the software growth it is relying on failed to make up for shrinking handset sales and lost service fees. The Canadian smartphone pioneer has gone through a wrenching transition in recent years featuring huge writedowns and job cuts as it seeks to build up a software business not tied directly to its eponymous smartphones, which have fallen from market dominance to also-ran in the iPhone and Android era. Th
  
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• Nigeria to repair Abuja runway after airlines threaten to halt flights

  20-12-2016 13:41 via news.yahoo.com
  
  Nigeria plans to close the airport in the capital Abuja for six weeks from February to repair its badly damaged runway, the government said on Tuesday, after airlines threatened to stop flying there. Nigeria has delayed infrastructure investment for decades, slowing the development of Africa's biggest economy. Flights to Abuja will be diverted to Kaduna, about 160 km to the north and linked to the capital by a pot-holed overland road.
  
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• Nigeria's finance minister says central bank will eliminate naira black market

  20-12-2016 13:28 via news.yahoo.com
  
  Nigeria's central bank will try to eliminate the currency black market, where the naira trades about 40 percent below the official rate against the dollar, Nigeria's finance minister said on Tuesday. The central bank scrapped a 16-month-old peg of 197 naira to the dollar in June, but it continues to trade in the official market, so that the naira remains far stronger against the dollar there than on the parallel market. The government has blamed that black market for damaging the already shaky e
  
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• BRIEF-Muehl Product & Service: creditor's assembly adopts insolvency plan

  20-12-2016 13:06
  
  * Insolvency plan is still subject to the condition of the
  renouncement of municipality of Kranichfeld on the trade tax,
  which will accrue as a result of the resulting rehabilitation
  gains
  
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• Volvo steps up drive to flotation with £483m fundraising from institutional investors

  20-12-2016 13:03 via news.yahoo.com
  
  Volvo has gone further down the road to a stock market listing after a major fundraising with Swedish institutional investors. The car company - which is owned by China’s Zhejiang Geely Holding Group - raised SEK 5bn (£483m) by issuing preference shares to pension funds AMF and AP1 and insurance group Folksam. Revealing the move, Volvo said it was “another step towards our long-expressed ambition to act as a listed company”.
  
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• Apple in talks with India to manufacture locally - WSJ

  20-12-2016 09:50 via news.yahoo.com
  
  Apple Inc is in talks with India's government to explore making products locally, the Wall Street Journal reported on Tuesday, as the U.S. firm aims to make deeper inroads in the world's second-largest mobile phone market by users. Prime Minister Narendra Modi is trying to boost technology manufacturing in the country through his 'Make in India' initiative. The Journal said Apple, in a letter to the federal government in November, outlined manufacturing plans and asked for financial incentives.
  
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• Key issues for Japan's economy as BOJ monetary easing stays

  20-12-2016 09:37 via news.yahoo.com
  
  Japan's central bank issued an upbeat assessment of the world's third-largest economy when it wrapped up its final meeting of the year Tuesday by keeping its ultra-lax monetary policy unchanged. The Bank ...
  
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• BRIEF-Abengoa says court declares insolvency proceedings of Abengoa Mexico

  20-12-2016 08:56
  
  * The court in Mexico declares insolvency proceedings of
  Abengoa Mexico
  
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• Asian markets trade mixed despite Fed chair Janet Yellen's positive comments on US economy

  20-12-2016 08:05 via news.yahoo.com
  
  Asian stock market indices were trading mixed on Tuesday (20 December). The Shanghai Composite was down 0.73% at 3,095.18 as of 5.46am GMT. This was despite positive economic news from both the US and Japan.
  
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• Yen eases as BOJ keeps policy steady, Asia stocks mixed

  20-12-2016 08:03 via news.yahoo.com
  
  By Nichola Saminather SINGAPORE (Reuters) - The yen edged down on Tuesday after the Bank of Japan held policy steady, shedding some gains made following killings in Germany and Turkey, while regional stocks were mixed after Federal Reserve Chair Janet Yellen's upbeat comments. European stocks were also poised to open mixed, with financial spreadbetter CMC Markets predicting Britain's FTSE 100 and Germany's DAX will open little changed, and France's CAC 40 will start the day about 0.2 percent low
  
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• Japan PM aims to visit Russia soon to speed up treaty talks

  20-12-2016 07:42 via news.yahoo.com
  
  Japanese Prime Minister Shinzo Abe said on Tuesday he hoped to visit Russia early next year to speed up talks to resolve a territorial dispute and conclude a peace treaty officially ending World War Two hostilities between the two countries. Abe and Russian President Vladimir Putin met for two days of talks in Japan last week and struck numerous economic deals but failed to achieve a big breakthrough on the territorial dispute over a string of Western Pacific islands. "President Putin and I shar
  
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• Bank of Japan lifts view of economy

  20-12-2016 06:18 via news.yahoo.com
  
  Tokyo (AFP) - The Bank of Japan on Tuesday boosted its view of the world's number-three economy as exports pick up on the yen's slide and providing some relief to the government with its growth plan stuttering.
  
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• Japan PM eyes Russia visit early next year to drive peace treaty talks

  20-12-2016 06:04 via news.yahoo.com
  
  Japanese Prime Minister Shinzo Abe said on Tuesday he aimed to visit Russia early next year to accelerate talks for resolving a territorial row and concluding a peace treaty officially ending World War Two hostilities. Abe and Russian President Vladimir Putin last Friday wrapped up two days of talks in Japan with numerous economic deals but no big breakthrough on the territorial dispute over the string of Western Pacific islands. "President Putin and I share a strong resolve to put an end to thi
  
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• China stocks fall on liquidity stress, Hong Kong also down

  20-12-2016 05:35 via news.yahoo.com
  
  China stocks fell on Tuesday morning as Beijing's move to tighten supervision of shadow banking activities and persistent liquidity concerns restrained risk appetite. Hong Kong stocks also lost ground, as Wall Street strength was eclipsed by weakness in mainland companies listed in Hong Kong. The Hong Kong China Enterprises Index, which tracks Hong Kong-listed Chinese firms, lost 0.7 percent, to 9,313.70 points, in line with mainland peers.
  
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• Asian stocks mixed as attacks in Germany, Turkey hike risks

  20-12-2016 04:46 via news.yahoo.com
  
  Asian markets meandered in a tight range Tuesday despite modest overnight gains on Wall Street as attacks in Germany and Turkey kept investors' appetite for risk in check. The Bank of Japan kept its policy ...
  
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• MIDEAST STOCKS - Factors to watch - Dec 20

  20-12-2016 04:00
  
  Dec 20 (Reuters) - Here are some factors that may affect
  Middle East stock markets on Tuesday. Reuters has not verified
  the press reports and does not vouch for their accuracy.
  
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• Goldman, JPMorgan to invest in blockchain startup Axoni: sources

  20-12-2016 03:26 via news.yahoo.com
  
  Goldman Sachs Group Inc , JPMorgan Chase & Co and a group of other financial institutions including inter-dealer broker ICAP Plc's venture arm are finalizing an investment in blockchain startup Axoni, people familiar with the deal said this week. The Axoni deal represents the latest Wall Street effort to gain traction with blockchain, which first emerged as the system underpinning digital currency bitcoin. Wall Street is betting blockchain and similar tools can be used to help slash some of
  
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• World’s largest trading floor put on the block

  20-12-2016 01:00
  
  Mission Capital Advisors hired to sell mortgage of former UBS office complex in Connecticut
  
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• UBS on call as Lloyds agrees £1.9bn MBNA takeover

  20-12-2016 01:00
  
  Transaction is the latest in a long-standing relationship between Lloyds Banking Group and UBS
  
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• NYSE ETF platform hit by technical glitch

  20-12-2016 01:00
  
  Trading on NYSE Arca was disrupted following a software update this weekend
  
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• Jefferies group profit rises on growth in trading

  20-12-2016 01:00
  
  Investment banking arm of Leucadia National posts 13% rise in net revenue
  
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• FTSE 100 tilts lower, but travel stocks shrug off terror attacks

  20-12-2016 01:00
  LSE pulls back on Euronext news, while Lloyds gains on MBNA buy
  
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