The FDIC sued 16 of the world's largest banks on Friday, accusing them of collusively suppressing interest rates, Reuters reported.» Read More
*Barclays CEO Jenkins could get 7.2 mln stg. *Barclays says 57 pct of its 1 mln stg club work in U.S. LONDON, March 5- Barclays paid almost 500 staff more than 1 million pounds last year, prompting criticism that pay is still too high and that banks have not changed their ways since the financial crisis.
LONDON, March 5- Following are key extracts from minutes of meetings between Bank of England officials and senior foreign exchange dealers in London between 2005 and 2013 showing a record of discussions going back to 2006 about possible manipulation of world currency rates around benchmark fixings.
NEW YORK, March 5- Service sectors around the globe mostly strengthened last month with Germany leading the way, although harsh winter weather put a damper on the massive U.S. non-manufacturing sector. In the United States, growth in the services sector eased to its slowest pace since February 2010, according to the Institute for Supply Management.
*Societe Generale says lawsuit's claims unsubstantiated. In the filing with the U.S. District Court in Manhattan dated March 3, New York resident Kevin Maher, who says he bought and sold gold and gold futures and options, alleged the banks overseeing the benchmark- Societe Generale, Deutsche Bank, Barclays, Bank of Nova Scotia and HSBC- colluded to manipulate it.
Led by Germany, euro zone businesses enjoyed their fastest growth rate in services- areas from banking to hairdressing- in more than 2-1/ 2 years. Data due later on Wednesday is expected to show a similar growth slow down in the United States.
LONDON, March 5- Gold was little changed on Wednesday as demand for safe assets cooled on easing fears of imminent military action by Russia in Ukraine, and traders waited for a new series of U.S. data for clues on the strength of the economy. The United States and Russia will hold talks over Ukraine on Wednesday.
*Gold steady after 1 pct overnight fall. SINGAPORE, March 5- Gold was little changed on Wednesday as safe-haven buying cooled on easing fears of imminent military action by Russia in Ukraine, and as traders waited for U.S. data for clues on the strength of the economy.
BEIJING, March 5- China announced on Wednesday it would maintain its economic growth target for 2014 at about 7.5 percent, as expected, signalling that its policy focus would be slanted in favour of reforms and rebalancing the economy.
*China growth hit by falling export orders. LONDON/ BEIJING/ NEW YORK, March 3- Manufacturing growth in Europe and Asia slowed last month, pressured by falling demand from abroad, while the United States bucked the trend with manufacturing expanding at its fastest pace in over three years.
*Russia strengthens control over Crimea, calls U.N. meeting. The U.N. Security Council announced it will hold its third emergency meeting on the Ukraine crisis on Monday, this time at Russia's request, as Moscow tightens its hold on Crimea, diplomats said.
*U.S. factory activity at highest since May 2010: Markit. LONDON/ BEIJING/ NEW YORK, March 3- Manufacturing growth in Europe and Asia eased last month, pressured by falling demand from abroad, while the United States bucked the trend with growth jumping to its highest in more than three years.
LONDON/ BEIJING, March 3- Manufacturers across Europe and Asia changed down a gear last month as falling demand from abroad hurt Chinese output and European factory growth dipped from January's 2-1/ 2 year high.
BEIJING, March 3- Manufacturing activity among Asia's major export economies stumbled in February, led by China where data suggested growth in the factory sector was stalling. The HSBC/ Markit purchasing managers index on China manufacturing fell to 48.5 in February, a seven-month low and the third straight monthly decline in the index.
The HSBC Manufacturing Purchasing Managers' Index, which gauges the business activity of India's factories but not its utilities, rose to 52.5 in February, its highest in a year, from 51.4 in January.
*Purchase may also signal China's goal to build a global trading firm. SINGAPORE/ HONG KONG, Feb 28- China's biggest grains trader COFCO Corp said it is buying a 51 percent stake in Dutch peer Nidera, in a deal that will give the world's most populous country direct access to South American grain and oilseed supplies.
*6.20 yuan per dollar seen as inflection point below which losses multiply. HONG KONG, Feb 28- China's weakening of the yuan over the past 10 days has exposed risks created by the rapid growth of offshore derivative products, with holders seen potentially facing billions of dollars of losses if the currency keeps falling.
LUXEMBOURG, Feb 27- Bankers and policymakers across Europe want a slice of the growing market in China's offshore currency, but a slowing economy and the yuan's recent slide may make investors wary.
BEIJING, Feb 26- China's factory activity likely expanded only slightly in February, a Reuters poll showed, dropping to an eight-month low that would indicate a modest slowdown is continuing. China's official manufacturing purchasing managers' index may slip to 50.1, down from January's 50.5, according to the median forecast of 12 economists in the poll.
MOSCOW, Feb 26- Russia's finance ministry said it plans to boost liquidity in the money markets using funds it holds on account at banks by cutting the minimum amount that must be kept on deposit to 200 billion roubles from 600 billion.
HONG KONG, Feb 26- China's yuan weakened below the daily fixing for a second consecutive day on Wednesday after the central bank set the lowest midpoint in more than two months, in a sign authorities are determined to stamp out speculative bets in the currency.