The Federal Reserve's approval of the rule sends a clear signal, bank analyst Mike Mayo of CLSA says.» Read More
NEW YORK-- A Citi analyst on Friday upgraded Intel Corp. to "Buy" from "Neutral," saying he's more confident that PC demand has stabilized. Intel expects a 5 percent decline in PC units next year, which Yeung said translates into an 8 percent to 10 percent drop in consumer PCs, larger than his investment bank's prediction of 7 percent.
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.
Dec 5- The city of Los Angeles has filed a lawsuit against Citigroup and Wells Fargo, seeking damages for a loss in tax revenue due to discriminatory mortgage lending to the city's minority communities, a court filing showed.
NEW YORK, Dec 5- The euro rose to a one-month high against the dollar on Thursday after the European Central Bank left a key interest rate unchanged, disappointing some traders who had hoped for more aggressive easing measures in the euro zone.
Analysts expect India to be a net exporter of sugar in 2013/ 14, selling at least 1.5 million tonnes and possibly more than 2.0 million depending on price movements in coming months. ICE raw sugar futures slipped to three-month lows this week after news that the cane crush in India had begun, signalling more exports.
LONDON, Dec 5- Sterling fell to its lowest against the euro in more than a week on Thursday as the European Central Bank upgraded its growth forecasts and the head of the ECB appeared to be cautious about more easing. "The ECB signalled no imminent need for further easing from here," said Valentin Marinov, a currency strategist at Citi.
NEW YORK, Dec 5- The euro rose to a one-month high against the dollar on Thursday after the European Central Bank disappointed some traders who had hoped for more aggressive easing measures in the euro zone, leaving a key interest rate unchanged.
*Ethylene costs $500/ T in United States, $1,200 in Europe. LONDON, Dec 5- Europe's petrochemical industry will face a competitive assault as U.S. rivals emerge with cheap feedstock from the shale gas boom. Those still in operation are struggling with losses or razor-thin margins as U.S. refiners flood Europe with cheap fuel made from low-cost shale oil and gas.
PARIS/ HONG KONG, Dec 5- Renault has won approval from Beijing authorities to begin Chinese production in a $1.3 billion joint venture with Dongfeng Motor Group, the carmakers said on Thursday. The 50-50 partnership "will allow Renault to deploy its ambitious strategy in the world's largest automotive market", the French company said in a statement.
MADRID, Dec 5- Spanish industrial output fell in October, official data showed on Thursday, after briefly breaking 30 months of slowing activity in September, pointing to a slow and bumpy return to economic growth.
Two court cases in Colorado say employers can fire workers for using medicinal marijuana off the job, but it could take years to settle the law.
WASHINGTON, Dec 4- A U.S. lawmaker critical of Wall Street is pushing the nation's six largest banks to voluntarily disclose their donations to think tanks, saying that not doing so threatens the credibility and research of these policy groups.
The "Fast Money" traders share their final trades of the day.
Deutsche Bank is committing about $2.3 billion to prove it's sorry that some of its employees rigged interest rates.
NEW YORK, Dec 4- Portfolio manager Joel Beam has spent the last 13 years investing in a part of the market that even many professional investors aren't familiar with. There are now 41 preferred funds tracked by Morningstar; 10 years ago there were only five, including the Forward fund.
LONDON, Dec 4- Gold pared earlier losses on Wednesday after mixed U.S. economic data but stayed close to a 5- month low on uncertainty over when the Federal Reserve will exit its asset purchase scheme. U.S. gold futures rose 0.5 percent to $1,227.70 an ounce, while gold in euros dropped to its lowest since late July 2010 at 891.26 euros an ounce in earlier trade.
Shares of ChemoCentryx Inc. advanced Wednesday before markets opened and a day after the drug developer said it was encouraged by initial results from a mid-stage study of a potential autoimmune disease treatment.
Some of the names on the move ahead of the open.
BRUSSELS, Dec 4- EU antitrust regulators fined six financial institutions including Deutsche Bank, Royal Bank of Scotland and Citigroup a record total of 1.71 billion euros on Wednesday for rigging financial benchmarks. The other banks penalised are Societe Generale, JPMorgan and brokerage RP Martin.
Some of the world's biggest banks have been hit with a 1.71 billion euros ($2.3 billion) fine for interest rate-rigging by traders.