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Group of Seven nations finance ministers agreed to tackle the issue of how to deal with failing banks and gave gave a green light to Japan's efforts to galvanize its economy.
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OTTAWA, Dec 11- The Bank of Canada's pick to fill a vacancy on its rate-setting council could offer clues on the priorities of the well-respected central bank as it gets ready to replace Governor Mark Carney, named last month as the next chief of the Bank of England.
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NEW YORK, Dec 11- NASDAQ OMX Group is buying a 25 percent of Dutch cash equity and equity derivatives trading venue TOM, The Order Machine, with an option to secure a majority stake, the transatlantic exchange operator said late on Monday.
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*USDA raises U.S., global stocks forecasts. *Corn choppy after USDA leaves US stocks view unchanged. *Soy mixed after USDA cuts US stocks forecast as expected.
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*Trade deficit widens to $42.2 billion in October. The Commerce Department said on Tuesday the trade gap increased 4.9 percent to $42.2 billion. "The report tells a tale of weakening economic growth momentum both domestically and globally," said Millan Mulraine, a senior economist at TD Securities in New York.
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LONDON, Dec 10- A legal clause as the key to smoothing future debt restructurings could be undermined by a U.S. court ruling that Argentina must pay creditors holding its defaulted debt. But' Argentina vs NML Capital' revives the threat that such holdouts will stall future debt restructurings.
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*Developments in Egypt, Syria, Yemen lend support. *Eyes on Wednesday's OPEC meeting, U.S. LONDON, Dec 11- Brent crude oil rose above $108 a barrel on Tuesday after OPEC said its production declined in November, while a weaker dollar and Middle East unrest also supported prices.
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NEW YORK, Dec 11- Wall Street was poised to open higher on Tuesday after unexpectedly cheery data out of Europe and as the Federal Reserve was set to kick off its two-day policy meeting.
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LONDON, Dec 11- Climate talks in Doha last week highlighted the weakness of carbon targets as a tool to limit climate change while a lack of international financial and political support may equally undermine an alternative, technology-led approach.
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*Fed expected to announce monthly bond purchases of $45 billion. Many economists expect the Fed to announce monthly bond purchases of $45 billion after its meeting on Tuesday and Wednesday. Spot gold was up 0.1 percent at $1,713.11 an ounce at 1302 GMT, after hitting a one-week high of $1,717.20 in the previous session.
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Dec 11- Delta Air Lines Inc said it was buying Singapore Airlines Ltd's 49 percent stake in Virgin Atlantic for $360 million, ending the Asian airline's disappointing 12- year investment in the British carrier.
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*Effectively clears CNOOC purchase of major North Sea field. LONDON, Dec 11- Britain will not stand in the way of a $15.1 billion takeover of Nexen by CNOOC, allowing the Chinese company to snap up the Canadian group's stake in a major North Sea field that helps set the Brent global oil benchmark.
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LONDON, Dec 11- The euro rose broadly on Tuesday after forecast-beating German data lifted sentiment towards the currency while investors steered clear of the U.S. dollar before a Federal Reserve meeting on monetary policy.
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*Many banks shun market after cartel collapse. *Firms look at options such as end-user finance. LONDON, Dec 11- Companies seeking to build new tin mines are struggling to finance the projects, which could deepen shortages in a market that is already in deficit and exacerbate price moves that are already volatile.
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Britain's Serious Fraud Office has made the first arrests as part of a global investigation into the manipulation of interbank lending rates.
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*Italy to remain volatile, supply pressure adds upward bias. LONDON, Dec 11- Italian bonds rebounded on Tuesday from a selloff but a political crisis, sparked by Prime Minister Mario Monti saying he would resign early, was expected to keep Italy's debt volatile in the coming weeks. "The moves in Italy today are just volatility.
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*Italy to remain volatile, supply pressure adds upward bias. LONDON, Dec 11- Italian bonds rebounded on Tuesday from a selloff but a political crisis, sparked by Prime Minister Mario Monti saying he would resign early, was expected to keep Italy's debt volatile in the coming weeks. "The moves in Italy today are just volatility.
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*Novo encouraged by recent U.S. obesity drug approvals. *Novo says 1 mln patients could make it a $6 bln product. While some in the industry are sceptical about using so-called GLP-1 diabetes drugs such as liraglutide to fight obesity, Novo's Chief Science Officer Mads Krogsgaard Thomsen believes the approach can offer cost-effective benefits.
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*China November copper output at record high of 531,000 T. LONDON, Dec 11- Copper dipped on Tuesday as traders took profits and investors were rattled by political turmoil in Italy, but the metal was underpinned by a weaker dollar and faster growth in factory output in big metals consumer China.
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*Whitbread, Metso up after earnings. LONDON, Dec 11- European shares rose on Tuesday, helped by news of a sharp rise in German investor sentiment and upbeat earnings reports, although banks lagged gains on concerns over political turmoil in Italy.
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*Developments in Egypt, Syria, Yemen, Iran support oil. LONDON, Dec 11- Brent crude oil rose above $108 a barrel on Tuesday as a slightly weaker dollar and Middle East unrest supported prices, but stalled fiscal talks in the United States capped gains.