Michael Spence, 2001 Nobel Laureate in Economics, explains the complexity of the economic relationship between the United States and China.» Read More
Dec 13- Shares of SolarCity Corp jumped more than 30 percent during their market debut on Thursday, after the clean technology company slashed its IPO price. The San Mateo, California- based company backed by technology entrepreneur Elon Musk sold 11.5 million shares at $8, raising $92 million.
CHICAGO, Dec 13- Soybean futures rose on Thursday on larger-than-expected weekly U.S. export sales and strength in the soymeal market, traders said. At the Chicago Board of Trade as of 9:50 a.m. CST, January soybeans were up 12-1/ 4 cents at $14.85- 1/ 2 per bushel, their biggest rise in a week.
*Capital rules would start a year late in January 2014. LONDON/ BRUSSELS, Dec 13- The European Union is close to a deal over tougher capital rules for banks after officials struck a series of preliminary agreements, including to introduce the rules in January 2014 and to cap bankers' bonuses.
Dec 13- When Apple Inc marketing head Phil Schiller launched the new iMac in October he enthused about its " Fusion Drive", a storage option combining the cost and capacity benefits of hard drives with the speed of flash memory. "Hybrid drives will be the future of mass market cheap storage," said John Rydning, an analyst at technology research firm IDC. "
LONDON, Dec 13- Swiss bank UBS faces a combined fine of around $1 billion next week to settle charges of rigging the Libor interest rate benchmark, a person familiar with the situation said on Thursday. Such a penalty would be more than double the $450 million penalty imposed in June on British bank Barclays by U.S. and UK regulators.
Dec 13- Shares of SolarCity Corp jumped 16 percent during their market debut on Thursday, after the company slashed its IPO price. The San Mateo, California- based company backed by technology entrepreneur Elon Musk sold 11.5 million shares at $8, raising $92 million. It initially had planned to sell 10.1 million shares between $13 and $15 per share.
*Lagarde doesn't see hard landing in China. SANTIAGO, Dec 13- Inadequate tackling of the so-called U.S. fiscal cliff, an acceleration of the euro zone debt crisis, and volatility in commodity prices are potential risks for export-dependent Latin America, the head of the International Monetary Fund said on Thursday.
OTTAWA, Dec 13- Canadians continued to pile on personal debt in the third quarter, pushing the debt-to-income ratio to a record high in what has become the biggest headache for central bank chief Mark Carney as he keeps interest rates low to spur growth.
*Drought expands in Kansas, Oklahoma and Texas. Dec 13- Drought continued to expand through many key farming states within the central United States in the past week, as scattered rainfall failed to replenish parched soils, according to a report issued Thursday by state and federal climatology experts.
WASHINGTON, Dec 13- Top central banks around the world on Thursday renewed a series of currency swap lines set up during the 2007-2009 financial crisis, providing a precaution against future market strains.
WASHINGTON, Dec 13- Commitments from Greece's European lenders to help the country deal with its massive debt ensures the bailout program remains sustainable, an International Monetary Fund spokesman said on Thursday.
LONDON, Dec 13- Gold prices fell more than 1 percent on Thursday, failing to sustain gains made after the Federal Reserve unveiled a fresh round of bond purchases, as investors switched focus to the prospect of a looming U.S. fiscal crisis.
LONDON, Dec 13- Crude oil slipped below $109 a barrel on Thursday due to rising U.S. oil stockpiles while fears that the world's largest economy might miss a deadline for next year's budget and risk a recession also kept bulls in check. Benchmark Brent crude fell 79 cents to $108.71 a barrel by 1517 GMT. U.S. crude was at $86.67, down 11 cents.
WASHINGTON, Dec 13- New U.S. jobless claims fell sharply last week to a near four-year low and retail sales rebounded in November, hopeful signs for an economy that appears to have slowed sharply in the fourth quarter. New claims fell for a fourth straight week, dropping 29,000 to a seasonally adjusted 343,000, the Labor Department said on Thursday.
*Best Buy surges on report its founder to make buy offer. Shares of Best Buy Co surged almost 18 percent after a report that the company's founder is expected to make a fully financed offer to buy the consumer electronics retailer by the end of the week. Best Buy was up 17.9 percent at $14.36, making it the biggest gainer on the S&P 500.
WASHINGTON, Dec 13- U.S. business inventories rose in October as retailers restocked their shelves at the fastest pace since July, while sales declined. The Commerce Department said on Thursday inventories increased 0.4 percent to $1.619 trillion, after rising 0.7 percent in September. That was smack in line with expectations in a Reuters poll.
Dec 13- International Paper Co is selling its building products unit to Georgia-Pacific LLC for $750 million cash, a move designed to sharpen focus on its massive packaging business.
NEW YORK, Dec 13- World shares were little changed but commodity prices slipped on Thursday as investors looked past the Federal Reserve's announcement on Wednesday of further monetary stimulus and re-focused on the unresolved showdown over the U.S. "
*Asian shares, led by China, seen top performers. LONDON, Dec 13- A tentatively improving global economy and plentiful central bank cash should foster gains for the world's major stock markets next year, a Reuters poll of more than 250 analysts showed.
NEW YORK, Dec 13- The S&P 500 may end 2013 within a stone's throw of its all-time intraday high hit in 2007 on the back of an improved outlook for global growth and with an end to uncertainty surrounding the U.S. " The median forecast for the S&P 500 by end of 2013 was 1,550, according to 47 respondents surveyed in the latest Reuters poll of equity strategists.