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Banks potentially have a conflict of interest when they trade commodities while also controlling supply, said Bart Chilton, a Democratic member of the Commodity Futures Trading Commission. "The Fed should do this, and if they don't, Congress should," Chilton said in an emailed statement ahead of a speech scheduled later in the day.
PARIS, Aug 5- One of China's top securities brokers has bought parts of the commodities trading unit of French bank Natixis in the latest move by Chinese institutions to expand into natural resources markets. A Natixis spokeswoman said China's Shenzhen- listed GF Securities had bought Natixis' London- based commodities brokerage unit.
JPMorgan looking to end its metal period, Canadian housing market still on fire, and Goldman Sachs sued for aluminum busines.
*Tyson Foods rises after results, Priceline up on analyst comment. NEW YORK, Aug 5- U.S. stocks edged lower on Monday, with indexes pulling back from record levels as investors looked for new catalysts to spur further market gains.
"The Fed should do this, and if they don't, Congress should," Chilton said in an emailed statement ahead of a speech scheduled later in the day. Wall Street banks are under increasing pressure from U.S. politicians and consumers to part with their commodity operations, after years of complaints about inflated prices during the 2000 s commodity boom.
PARIS, Aug 5- One of China's top securities brokers has bought the commodities trading unit of French bank Natixis in the latest move by Chinese institutions to expand into natural resources markets. A Natixis spokesman said the unit was sold to China's GF Securities.
Aug 5- U.S. federal energy regulators on Monday ordered BP Plc to respond to allegations of natural gas market manipulation, threatening the energy company with fines near $29 million.
Bart Chilton, the CFTC's commissioner, has sent a letter to Ben Bernanke urging the Fed to draft a tougher Volcker Rule so banks can no longer speculate in commodity markets.
*China services sector growth picks up. LONDON/ SINGAPORE, Aug 5- Copper prices edged lower on Monday, following strong gains last week, after service sector data from China failed to lift expectations for demand in the world's top consumer of metals.
LONDON, Aug 5- Commodity revenue slid by about a quarter in the first half of the year at the top 10 investment banks, mainly due to lack of investor interest and placid markets, a consultancy said on Monday.
SINGAPORE, Aug 5- London copper edged down on Monday after gaining last week for the first week in three, as a stream of tepid economic data from top metals consumer China weighed on the outlook for demand. *The most-traded November copper contract on the Shanghai Futures Exchange rose 0.32 percent to 50,190 yuan a tonne.
Three relatively cheap stocks are positioned to outpace the market, Chuck Bath says.
It was a literal flood of economic numbers this week for the Fed and investors to chew on—ending with Friday's employment report. This is Talking Squawk.
TOKYO, Aug 2- The Japanese economy can withstand a planned sales tax increase even if growth slows from the first quarter's healthy pace, economists said in a Reuters poll, offering support for the contentious fiscal reform, the biggest in decades.
NEW YORK, Aug 1- A jury found former Goldman Sachs Group Inc vice president Fabrice Tourre liable for fraud for his role in a failed mortgage deal that cost investors $1 billion, in a big victory for the U.S. Securities and Exchange Commission.
*Pioneer Natural Resources jumps after results. Google shares, up 1.9 percent at $904.22, and Apple, up 0.9 percent at $456.67, were among companies giving the S&P 500 its biggest boost, along with financials. JPMorgan Chase shares gained 1.5 percent to $56.54 while Bank of America was up 2.4 percent at $14.95.
*Pioneer Natural Resources jumps after results. NEW YORK, Aug 1- U.S. stocks jumped on Thursday, pushing the S&P 500 above 1,700 for the first time, as data suggested the economy is still improving and as the Federal Reserve kept its stimulus plan in place.
*Pioneer Natural Resources jumps after results. Global central banks on Thursday also remained accommodative with European Central Bank President Mario Draghi reiterating the ECB's rates will remain at their present level or lower for an "extended period" of time.
BEIJING, Aug 1- China's factory activity was slightly stronger than expected in July, a government survey showed on Thursday, but analysts cautioned against rushing to a conclusion that the world's second-largest economy had arrested its slowdown.
BEIJING, Aug 1- China's factory activity stayed weak in July as persistent pressure on the economy extended into the third quarter, although bigger firms fared better as the government moved to bolster growth, a pair of surveys showed on Thursday.