The "Fast Money" traders share their final trades of the day.» Read More
Dec 12- Bank of America Corp has agreed to pay $131.8 million to settle U.S. Securities and Exchange Commission charges that its Merrill Lynch unit misled investors about mortgage securities it structured and sold.
The bill, introduced by Dianne Feinstein, a California Democrat; Tom Coburn, an Oklahoma Republican; and eight cosponsors, faces an uphill battle as many lawmakers from agricultural states support the Renewable Fuel Standard that dictates rising volumes of ethanol made from grains, including corn, be blended into motor fuel.
*Market pricing in less than 15 pct risk of senior bail-in. *Contagion effects hugely underestimated- analysts. LONDON, Dec 12- European Union plans to force bond investors take their share of losses in failing banks by 2016 could risk undermining appetite for bank debt and make it more difficult for weaker lenders to fund themselves, credit market experts said.
LONDON, Dec 12- The euro hovered near a two-year high against the dollar and a five-year peak versus the yen on Thursday, helped by higher short term market rates and year-end repatriation by European banks shoring up balance sheets.
LOS ANGELES-- Shares of Scripps Networks Interactive Inc., the operator of the pay TV channels Food Network and HGTV, rose Wednesday following a report that rival channel owner Discovery Communications Inc. had discussed making a bid for the company.
Laboratory Corp. of America Holdings said after the market closed Tuesday that it expects the challenging environment will continue to hurt its financial performance through 2014..
LONDON, Dec 11- Britain's leading fraud prosecutor is launching a full review of the circumstances that led to the collapse of a high-profile corruption trial that has embarrassed an agency attempting to restore confidence in its crime-busting abilities.
NEW YORK, Dec 11- Citigroup Inc named Duncan Hennes, a co-founder of bank advisory firm Promontory Financial Group and a former CEO of Soros Fund Management, to its board of directors on Wednesday.
NEW YORK-- A Citi analyst on Wednesday assumed coverage of BlackBerry Ltd. with a "Sell" rating, saying that the smartphone maker continues to struggle and is worth more broken into pieces than as a whole company.
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.
*USDA issues monthly supply-demand report. Wheat supplies already were seen as comfortable when the USDA raised the outlook for global inventories by 4.3 million tonnes to 182.78 million. Record wheat production in Canada and higher Canadian exports are expected to add to wheat supplies in the United States, the USDA said.
Dec 10- Fourth-quarter capital markets and underwriting revenues this quarter are running slightly below results from a year ago, Citigroup Inc Chief Financial Officer John Gerspach said on Tuesday. Citigroup, the third-biggest U.S. bank by assets, is expected to report fourth-quarter and full-year results in the middle of January.
*USDA issues monthly supply-demand report. Wheat supplies already were seen as comfortable when the USDA raised the outlook for global inventories by 4.3 million tons to 182.78 million. Record production and higher exports from Canada are expected to add to wheat supplies in the United States, the USDA said.
*Big jump in world wheat stocks after large Canada harvest. U.S. soybean stocks for 2013/ 14 were forecast down sharply from a month ago, but projected wheat stocks in the United States and globally were higher, largely reflecting a record crop in Canada, the U.S. Department of Agriculture said.
WASHINGTON, Dec 10- Wall Street banks will need to prove to regulators that certain trades are done on behalf of clients and are not veiled speculative bets as part of the final Volcker rule that U.S. officials plan to adopt on Tuesday, a senior regulator said.
WASHINGTON, Dec 10- U.S. regulators are set on Tuesday to approve a rule to rein in risky trading by banks, a crucial part of their efforts to reform Wall Street and prevent another costly taxpayer bailout.
DUBAI, Dec 9- Three state-owned Gulf firms are considering a joint bid for a minority stake in Occidental Petroleum Corp's Middle East and North Africa unit, a deal that could be worth between $8 billion and $10 billion, three banking sources said.
LONDON, Dec 9- When the Afghan government used mobile phones instead of cash to pay some of its policemen, the officers thought they'd just had a 30 percent pay rise.
KIEV, Dec 9- Ukrainian President Viktor Yanukovich, facing mass street protests over his policy U-turn away from the European Union towards Russia, backed on Monday a call for talks involving the opposition to work out a compromise, his website said.
M&A activity looks to pick up. Debt markets should expand. Clients may stop nagging about fees. What's not to like?