Stocks Drop as Fed Tapering Fears, Weak China Data Rattle Markets
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SINGAPORE/ HONG KONG, Jan 7- Call it phablet, phonelet, tweener or super smartphone, but the clunky mobile phone- closer in size to a tablet than the smartphone of a couple of years back- is here to stay. At this week's Consumer Electronics Show in Las Vegas, Chinese telecommunications giants ZTE Corp and Huawei Technologies Co Ltd will launch their own.
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SINGAPORE, Jan 7- London copper prices steadied on Monday, supported by signs the world's top two economies are inching into recovery, while a decision by global regulators to help banks build up cash buffers also underpinned sentiment.
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Global regulators gave banks four more years and greater flexibility on Sunday to build up cash buffers so they can use some of their reserves to help struggling economies grow.
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The economies of the United States, China and much of the developing world have decoupled from Europe, leaving it to wallow in various stages of recession and fiscal disarray.
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SINGAPORE/ HONG KONG, Jan 7- Call it phablet, phonelet, tweener or super smartphone, but the clunky mobile phone- closer in size to a tablet than the smartphone of a couple of years back- is here to stay. At this week's Consumer Electronics Show in Las Vegas, Chinese telecommunications giants ZTE Corp and Huawei Technologies Co Ltd will launch their own.
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LONDON, Jan 6- The Basel Committee of regulators from nearly 30 countries agreed on Sunday to ease a new rule forcing banks to build cash buffers to protect against any month-long market squeeze. The Liquidity Coverage Ratio rule is one of the world's main regulatory responses to the financial crisis.
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LONDON, Jan 6- The economies of the United States, China and much of the developing world have decoupled from Europe, leaving it to wallow in various stages of recession and fiscal disarray.
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*Citi has Monday deadline for stress test by Fed. Jan 6- Citigroup Inc's Michael Corbat has been meeting with bank regulators in his first months as CEO, as he looks to bolster relationships and finalize the bank's plan to return capital to shareholders, sources familiar with the matter said. Corbat is expected to play it safe when Citigroup asks the U.S.
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BASEL, Switzerland/ LONDON, Jan 6- Global regulators gave banks four more years and greater flexibility on Sunday to build up cash buffers so they can use some of their reserves to help struggling economies grow.
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BASEL, Switzerland/ LONDON, Jan 6- Global regulators have given banks more time to build up cash buffers so they can divert some of their reserves to helping struggling economies grow.
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ALGIERS, Jan 5- Turkey will discuss building a liquefied natural gas terminal with Qatar on its Aegean coast to help meet rising domestic needs and as Turkey's role as an energy supplier to Europe grows, Energy Minister Taner Yildiz said on Saturday.
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"The Justice Department wanted a scalp to send a message to all the other banks, in particular the small cantonal and private banks," said Christopher Rizek, a tax lawyer at Caplin& Drysdale in Washington, D.C., and a senior former Treasury Department tax official.
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NEW YORK, Jan 4- Brent crude fell on Friday as a U.S. government report showing weak demand for fuel by the world's top consumer outweighed a jobs report that showed employers kept the pace of hiring steady in December.
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*Ivory Coast cocoa production forecast to fall 13 percent. NEW YORK/ LONDON, Jan 4- Cocoa futures on Liffe fell to an 8-1/ 2 month low on Friday before trimming losses, tracking trends in many other commodity markets as slower U.S. job growth diminished concern that the Federal Reserve may rethink its monetary policy.
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NEW YORK, Jan 4- Oil and metals prices fell for a second straight day on Friday as investors weighed the possibility of the U.S. Soybeans hit a six-week bottom in Chicago on prospects for a bumper harvest of South American soy and China's cancellation of U.S. soybean orders.
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*Transocean leads market as settles oil spill charges. LONDON, Jan 4- European shares set a 22- month high on Friday, buoyed by supportive data and led by rig contractor Transocean, which agreed to settle U.S. government charges over BP's Gulf of Mexico oil spill.
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LONDON, Jan 4- European shares extended gains to set a new 22- month high on Friday, buoyed by supportive U.S. economic data and led by rig contractor Transocean. Transcocean led gainers, up 5.9 percent, after it reached a deal late on Thursday with the U.S. Department of Justice to settle claims related to the giant BP oil spill in the Gulf of Mexico.
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In the hours after it passed, deficit hawks at the Committee for a Responsible Federal Budget and the tag team of former Senator Alan Simpson and former Clinton White House chief of Staff Erskine Bowles all expressed disappointment in a bargain that was anything but grand.
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"Growth of the global economy peaked at a nine-month high in December, led by a solid increase in service sector output and signs of a muted recovery in manufacturing production," said David Hensley, director of global economics coordination at JPMorgan.
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*Ivory Coast cocoa production forecast to fall 13 percent. Ivory Coast expects its cocoa output to dip 13 percent this season to 1.289 million tonnes due mainly to a lack of investment in ageing plantations, a top official at the Coffee and Cocoa Council said in an interview.