The Fast Money traders take a look at today's biggest market movers.» Read More
*Two new pipelines set to drain oil from Cushing. SINGAPORE, Dec 11- Brent drifted above $109 a barrel on Wednesday as traders focused on the narrowing of its spread with U.S. futures ahead of U.S. inventories data that is forecast to show a drop in crude stockpiles.
DETROIT, Dec 11- A decade ago Les Cadman stopped making improvements to his small house in Detroit's declining Delray district because it stood in the path of a proposed bridge to Windsor, Ontario, the bustling Canadian city just across the Detroit River.
NEW YORK/ SAN FRANCISCO, Dec 11- Now that the central question before the Federal Reserve has shifted from whether to cut its extraordinary stimulus to when exactly to pull back, the debate at next week's meeting will center on how best to communicate that plan.
WASHINGTON, Dec 11- Senior defense officials from Singapore got to see U.S. Marine Corps F-35 fighter jets in action on Tuesday at the Luke Air Force Base in Arizona as the Asian country mulls buying the Lockheed Martin Corp planes, a base spokeswoman said.
*Gold eases after 3- day rally. SINGAPORE, Dec 11- Gold snapped a three-day winning streak on Wednesday but was well-supported near a three-week high, boosted by short-covering and weakness in the dollar. However, it depends on whether it can hold support at $1,250 and the Fed meeting next week, "said a Hong Kong- based precious metals trader.
*Dexus, CPPIB hike offer for CPA to A $1.27 per unit. SYDNEY, Dec 11- A bidding war for Australia's Commonwealth Property Office Fund escalated after Dexus Property Group and the Canada Pension Plan Investment Board hiked their joint offer- a move expected to prompt a higher bid from a rival suitor.
SINGAPORE, Dec 11- Brent drifted above $109 a barrel on Wednesday as traders focused on the narrowing of its spread to U.S. futures ahead of U.S. inventories data that is forecast to show a drop in crude stockpiles.
MEXICO CITY, Dec 10- Mexico's Senate on Tuesday debated a landmark energy overhaul bill at the center of President Enrique Pena Nieto's economic reform drive, after the country's two biggest political parties hammered out a draft presented over the weekend.
WASHINGTON, Dec 10- A bipartisan budget deal announced in the U.S. Congress on Tuesday, while modest in its spending cuts, would end nearly three years of partisan stand-offs between Democrats and Republicans that culminated in October with a partial government shutdown.
SINGAPORE, Dec 11- U.S. oil futures traded at their highest in six weeks above $98 a barrel on Wednesday after U.S. data showed a larger-than-expected drop in crude inventories.
*No immediate reaction to budget deal in Washington. TOKYO, Dec 11- The dollar wobbled near a six-week low against a basket of currencies on Wednesday, hampered by a growing view that the Federal Reserve needs more positive economic data before it decides to start reducing its monetary stimulus.
Regulators decided to exempt certain funds after Wall Street complained that an earlier draft would have applied to an unnecessarily broad swath of the industry, including many commodity pools, foreign registered mutual funds, securitized loans and corporate structures such as joint ventures.
WASHINGTON, Dec 10- U.S. banks will no longer be able to make big trading bets with their own money after regulators finalized on Tuesday a rule shutting down what was a hugely profitable business for Wall Street before the credit crisis.
Shares of Laboratory Corp. of America Holdings fell in after-hours trading Tuesday after its profit guidance for next year fell short of Wall Street expectations. Labcorp, which is based in Burlington, N.C., expects revenue to rise 2 percent _ about $5.96 billion based on its guidance for growth in 2013. Wall Street had forecast $5.95 billion.
DETROIT, Dec 10- Until two years ago, Mary Barra, the incoming CEO of General Motors Co, was little known outside the automaker. "She was always at the top of that list" in the late 1990 s, said Don Hackworth, who retired as head of GM's North American Car Group in 2001..
SAN FRANCISCO-- McKesson Corp.' s $8.3 billion bid to buy rival pharmaceutical drug distributor Celesio AG is facing opposition from a major Celesio shareholder that contends the proposed sales price is too low.
NEWS: Smith& Wesson Holding Corp. said Tuesday that its net income fell 20 percent in its fiscal second quarter, even as demand for its handguns rose. Smith& Wesson said sales of its handguns during the quarter rose 27 percent.
The U.S. Court of Appeals for the District of Columbia Circuit, the second most powerful court in the country behind the Supreme Court, heard two cases challenging the Environmental Protection Agency's first rules to crack down on mercury from the country's fleet of electric generating units.
DETROIT, Dec 10- General Motor Co's incoming president has gone to great lengths to prove that while he is the U.S. automaker's chief financial officer, he is not just a "bean counter."
*Akerson accelerates exit after wife's cancer diagnosis. *CFO Ammann named president, ex-Cummins CEO named chairman.