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Top News & Analysis Chicago

  • Sept 12- President Barack Obama on Monday urged U.S. insurers offering coverage next year under his national healthcare law to step up their efforts to enroll those who remain uninsured, especially younger and healthier Americans. Several big insurers, including UnitedHealth Group Inc, Aetna Inc and Humana Inc, have announced they will pull back from the...

  • NEW YORK, Sept 12- Payments app Venmo will roll out its first major promotional campaign on Monday, intensifying its battle over young customers' wallets with big banks. Its 15- and 30- second video ads will begin appearing nationally Monday evening on cable networks including MTV and Comedy Central, and on internet-based services Hulu and YouTube.

  • CHICAGO, Sept 12- Chicago would sell up to $3.5 billion of revenue bonds this year for its O'Hare International Airport under proposals approved on Monday by the city council's finance committee. Mayor Rahm Emanuel proposed refunding up to $1.5 billion of general airport revenue bonds through Bank of America Merrill Lynch to save an estimated $187.2 million,...

  • "If we get to $47.50 on WTI, I'm shorting it as it seems to be a channel top," said Phil Davis, a trader at PSW Investments in Woodland Park, New Jersey. "Fundamentally, there's little support for crude despite its attempts to hold to a bottom channel of $45 on empty OPEC talk of production cuts." The Organization of the Petroleum Exporting Countries is meet non- OPEC members...

  • CHICAGO, Sept 12- The Federal Reserve should avoid removing support for the U.S. economy too quickly, Fed Governor Lael Brainard said on Monday in comments that solidified the view the central bank would leave interest rates unchanged next week. Brainard said she wanted to see a stronger trend in U.S. consumer spending and evidence of rising inflation before the...

  • CHICAGO, Sept 12- Federal Reserve Governor Lael Brainard said she wants to see stronger consumer spending data and signs of rising inflation before she would support removing monetary support for the U.S. economy. "So going forward it would be an important thing to see some of those spending indicators starting to really move in a more positive direction going...

  • CHICAGO, Sept 12- The Federal Reserve should avoid removing support for the U.S. economy too quickly because of potential weakness in the labor market and risks of foreign economic downturns, Fed Governor Lael Brainard said on Monday. "Today's new normal counsels prudence in the removal of policy accommodation," Brainard told the Chicago Council on Global...

  • *USDA raises soybean production forecast. "The soybean figure was eye popping and suggests that the big bean crop continues to get bigger," said Don Roose, president of U.S. Commodities, a brokerage firm in Iowa. Before the USDA released its estimate, the contract traded at $9.90, its highest price in more than two weeks.

  • The USDA, in issuing its latest monthly U.S. crop forecasts, also trimmed its corn production and yield projections from its August outlook. Even so, they were pegged near the high end of analysts' forecasts and USDA reiterated its expectation for a record harvest of the yellow grain. "USDA increased crush for next year and exports for next year, but you still ended up...

  • CHICAGO, Sept 12- The U.S. Federal Reserve must be careful not to remove its monetary stimulus too quickly because of potential weakness in the labor market and risks of foreign economic downturns, Fed Governor Lael Brainard said on Monday. "Today's new normal counsels prudence in the removal of policy accommodation," Brainard said in prepared remarks to the...

  • NEW YORK, Sept 12- U.S stock prices were slightly higher at midsession Monday after a Federal Reserve policymaker expressed caution about the need to raise U.S. interest rates, though European and Asian equities finished lower after the biggest fall on Wall Street since June on Friday. Federal Reserve governor Lael Brainerd is also due to make a speech in...

  • NEW YORK, Sept 12- Oil prices rose on Monday as a softer dollar and stronger U.S. equity markets helped crude futures rebound from an earlier drop pressured by worries about increased drilling activity for oil in the United States. Brent crude was up 30 cents at $48.31 per barrel by 11:17 a.m. EDT. "We still see some difficult choppy trading conditions ahead with...

  • NEW YORK, Sept 12- The U.S. dollar fell against the safe-haven yen on Monday as uncertainty surrounding a potential Federal Reserve rate hike this month fueled a selloff in riskier currencies, while speculation of a less-dovish Bank of Japan also helped the yen. The dollar was last down 0.7 percent against the yen at 101.97 yen after falling as low as 101.73 yen, or...

  • LONDON, Sept 12- Gold fell on Monday as pressure from speculation over a potential increase in U.S. interest rates this month offset the metal's safe-haven appeal amid widespread weakness across other assets. Spot gold was down almost 0.3 percent at $1,324.15 an ounce by 1400 GMT, with U.S. gold futures losing 0.5 percent to $1,328. Stocks and bonds fell to levels...

  • LONDON, Sept 12- Gold held its ground on Monday, with pressure from speculation over a potential increase in U.S. interest rates this month offset by the metal's safe-haven appeal amid widespread weakness across other assets. Spot gold was steady at $1,327.23 an ounce at 1152 GMT, with U.S. gold futures down 0.3 percent at $1,330.70. After Boston Fed President Eric...

  • NEW YORK, Sept 12- Payments app Venmo will roll out its first major promotional campaign on Monday, intensifying its battle over young customers' wallets with big banks. Its 15- and 30- second video ads will begin appearing nationally Monday evening on cable networks including MTV and Comedy Central, and on internet-based services Hulu and YouTube.

  • LONDON, Sept 12- Gold steadied on Monday with investors looking for a safe haven as fresh speculation about a near-term U.S. rate hike weighed on equities and other assets. Spot gold held steady at $1,327.92 an ounce at 0930 GMT. After Boston Federal Reserve President Eric Rosengren spoke on Friday, odds on a rate hike in September rose to 30 percent probability...

  • *Asia stocks ex- Japan in steepest fall since Brexit. SYDNEY, Sept 12- Asian shares suffered their sharpest setback since June on Monday as investors were rattled by rising bond yields and talk the Federal Reserve might be serious about lifting U.S. interest rates as early as next week. MSCI's broadest index of Asia-Pacific shares outside Japan fell 2.4 percent,...

  • Spot gold held steady at $1,328.06 an ounce at 0425 GMT. U.S. gold futures edged 0.1 percent lower at $1,328.30 an ounce. It is going to create a little bit of volatility going forward, "ANZ analyst Daniel Hynes said.

  • TOKYO, Sept 12- The dollar began the week on the back foot on Monday as a bout of risk aversion underpinned the yen, though losses were limited as the U.S. currency garnered some support on renewed talk of a possible rate hike by the Federal Reserve as early as this month. The dollar was down 0.3 percent at 102.445 yen, while the euro slipped 0.2 percent to 115.15 yen.