The White House is close to nominating Stanley Fischer, the former governor of the Bank of Israel, as vice chair of the Fed, reports said.» Read More
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.
NEW YORK, Dec 4- Just a few years ago, Morgan Stanley lacked the expertise, infrastructure or desire to do a lot of lending, but today it is making a big push into loans to bridge a profit gap with rivals.
BRUSSELS, Dec 3- European Union antitrust regulators will impose multi-million euro fines on six banks including Citigroup, Deutsche Bank and Royal Bank of Scotland on Wednesday for rigging key interest rate benchmarks, sources said.
EU regulators will fine banks including Citigroup and Deutsche Bank for rigging Libor and Tibor becnhmarks, a person familiar with the matter said.
The Fed's Jeffrey Lacker says banks are likely to cut back on risky short-term funding if markets believe bankruptcy not bailouts await them.
BRUSSELS, Dec 3- European Union antitrust regulators will fine five banks including Citigroup and Deutsche Bank for rigging yen Libor and Tibor interest rate benchmarks, a person familiar with the matter said on Tuesday. The person said the other banks facing sanctions include Royal Bank of Scotland, JPMorgan and Barclays.
WASHINGTON, Dec 3- U.S. banks are likely to cut back on risky short-term funding if markets believe bankruptcy not bailouts await them, a top Federal Reserve is set to tell lawmakers on Tuesday.
FRANKFURT, Dec 3- Swiss drugmaker Novartis is ready to sell its animal health subsidiary and has opened its books to Bayer and other rivals interested in a business that could change hands for more than 3 billion euros, sources familiar with the matter told Reuters.
CHICAGO, Dec 3- U.S. wheat futures turned firm on Tuesday on increased export demand and a cold snap late this week that may harm some U.S. wheat, but gains were capped by increased production prospects in Australia.
The world economy will put on a growth spurt next year, accelerating to beat 30-year averages by growing by 3.7 percent in 2014, Credit Suisse said.
MOSCOW, Dec 3- Russia said on Tuesday that its oil- and gas-dependent economy will stagnate over the next two years, increasing the pressure on President Vladimir Putin to fulfil pledges to expand and diversify Russian industry.
*EuroSTOXX 50 has strong support around 3,000- Commerzbank. *U.S. investors bet on Europe outperformance-RBC CM. Mexican precious metals miner Fresnillo and Africa- focused miner Randgold were also among the top fallers in Europe, off 3.7 and 3.9 percent respectively.
*EuroSTOXX 50 technical support at 3,060, then 3,000- Commerzbank. LONDON, Dec 3- European stocks edged down to one-week lows on Tuesday, led by miners, after strong U.S. data heightened concern the Federal Reserve will scale back stimulus sooner rather than later.
Dec 2- U.S. cinema chain AMC Entertainment Holdings Inc plans to raise as much as $368 million from an initial public offering of 18.4 million Class A shares. The company said it expects its offering to be priced in the range of $18 to $20 per share and will use the proceeds primarily to repay debt.
*Gabon debt seen less attractive than Nigeria, Angola. JOHANNESBURG, Dec 2- Gabon plans to raise at least $500 million via a new 10- year Eurobond to fund infrastructure investment and will buy back up to $140 million of its 2017 Eurobond, according to a preliminary prospectus seen by Reuters.
*UK utilities seen most at risk from politics. Investors are thus paying more attention to what authorities are doing, prompting both Citi and HSBC to pick regulation as a key European equity investment theme for 2014..
In an era of chastened Wall Street egos, Michael L. Corbat, the chief of Citigroup, has cultivated a workmanlike demeanor out of the spotlight. The NYT reports.