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Inconclusive data in the United States has given few clues as to when the Federal Reserve might bring its policy of easy money to an end, while markets are still waiting for the European Central Bank to come to the euro zone's rescue again with more than just another interest rate cut.
MILAN, Dec 8- The European Central Bank has the tools to counter a possible excessive slowdown in inflation and would act if necessary, Governing Council member Jens Weidmann told an Italian newspaper on Sunday. We are ready and able to act, "the head of Germany's Bundesbank was quoted as saying in Il Sole 24 Ore.
LONDON, Dec 8- Most of Europe's big banks shed risky assets in the quarter to September, but they have yet to take extra provisions against doubtful loans to show they have put the financial crisis behind them in time for a critical review by regulators.
BERLIN, Dec 7- European Central Bank board member Joerg Asmussen has backed German Finance Minister Wolfgang Schaeuble's call for governments to keep scrutinising the banking sector despite complaints that they have already gone far enough.
CHICAGO, Dec 6- A top Federal Reserve official, who has been one of the most ardent supporters of the U.S. central bank's bond-buying stimulus program, said he was open to curtailing the purchases this month, although he would prefer to wait.
Dec 6- A federal judge has granted final approval to Bank of America Corp's record $500 million settlement with investors who claimed they were misled by the bank's Countrywide unit into buying risky mortgage debt. Countrywide had been the largest U.S. mortgage lender before Bank of America bought it in July 2008.
CHICAGO, Dec 6- A top Federal Reserve official said on Friday he was "open-minded" to the idea of reducing the U.S. central bank's bond purchasing stimulus program this month, but he would like to see a stronger labor market first.
CHICAGO, Dec 6- A top Federal Reserve official said on Friday he would ideally like to see more signs of recovery in the labor market before the U.S. central bank reduces its bond-buying stimulus program, although he was open-minded.
*Fourth-quarter adjusted profit C $1.31 vs est C $1.32. TORONTO, Dec 6- Bank of Nova Scotia reported a 12 percent rise in quarterly profit due to its acquisition last year of online bank ING Direct, but results were marred by a sluggish performance at its international unit.
*Fed to buy $4.25 billion to $5.25 billion notes due 2017, 2018. NEW YORK, Dec 6- U.S. "The market reacted pretty violently to the report and I think a lot of people got caught in the hole," said Charles Comiskey, head of Treasuries trading at Bank of Nova Scotia in New York.
*Analysts bank on earnings rebound despite downgrade trend. LONDON, Dec 6- Equity analysts are predicting double-digit growth in European earnings in 2014, banking on economic recovery to fuel a rebound despite seeing similarly rosy forecasts confounded for two years running.
Many leaving it late to tell the Swiss regulator whether they will participate in a U.S. programme to settle tax evasion suspicions.
LONDON, Dec 6- Crowded junk corporate bond markets may be most vulnerable to what could be the main outlying risk of 2014: a Federal Reserve that is slow to withdraw monetary stimulus and forced to play catch-up.
LONDON, Dec 6- The dollar rose against basket of currencies on Friday, with its short term fortunes riding on whether key U.S. jobs data can bolster the case for the Federal Reserve to start scaling back monetary stimulus.
Germany's Bundesbank raised its forecast for growth of the euro zone's largest economy this year and next on Friday.
*Yuan may hit record highs, but seen capped around 6.05/ dollar- traders. SHANGHAI, Dec 6- China's yuan strengthened against the dollar on Friday after the central bank set a record high official midpoint, a move traders said signalled that the bank is ready to allow the currency to end the year with another rally.
SYDNEY/ SINGAPORE, Dec 6- The dollar hovered near a five-week low versus a basket of currencies on Friday, with its near-term fortunes riding on whether key U.S. jobs data will bolster the case for the Federal Reserve to start scaling back its monetary stimulus.
TOKYO, Dec 6- JGB prices dropped on Friday, with the 10- year yield rising to seven-week highs, after expectations the U.S. Federal Reserve could soon pare its bond-buying programme lifted U.S. and European bond yields. Investor demand for these new bonds is strong, as the Bank of Japan's massive bond buying is leading to a shortage of bonds, market players said.
Deutsche Bank pulled the plug on its global commodities trading business, cutting 200 jobs as it becomes the first major bank to exit the sector.
A US judge is considering an alternative that could result in Bank of America paying much less than the $863.6 million the government is seeking.