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  • WASHINGTON, Dec 9- Congressional negotiators raced on Tuesday to wrap up final policy disputes over a $1.1 trillion spending bill as a midnight Thursday deadline to avert a U.S. government shutdown drew closer. House of Representatives Republicans were prepared to pass a short-term funding extension of one to two days if necessary to forestall a shutdown, as...

  • CARACAS, Dec 9- Venezuela has uncovered at least $3 million in cash hidden under the false bottom of a Ford truck that arrived on a Lebanese-flagged ship from Miami. "Preliminary information shows that the money discovered is at least 3 million dollars in small denominations," AVN said, adding that the state prosecutor's office will charge the man "responsible" for...

  • WASHINGTON, Dec 9- A surge of oil and gas production will drive the U.S. economy 1 percent higher in 2040 than it would have otherwise grown, and energy exports will only stoke the expansion, an independent study on energy policy concluded on Tuesday. New drilling technologies such as' fracking' have unlocked an abundance of fossil fuels from shale deposits and the...

  • CHICAGO, Dec 9- Public labor unions and others challenging a 2013 law aimed at easing Illinois' pension burden objected on Tuesday to a fast-tracking of the state's appeal of a lower court's ruling that the law is unconstitutional. State Attorney General Lisa Madigan last week asked the Illinois Supreme Court to speed up the appeal of Sangamon County Court...

  • UPDATE 1-Detroit set to exit bankruptcy on Wednesday Tuesday, 9 Dec 2014 | 4:56 PM ET

    Dec 9- Detroit's odyssey through the biggest-ever U.S. municipal bankruptcy will end on Wednesday when the city's debt adjustment plan will take effect, Michigan Governor Rick Snyder's office said on Tuesday. In a letter, Snyder accepted Detroit Emergency Manager Kevyn Orr's declaration that the city's financial emergency is over and that it was time for his...

  • WASHINGTON, Dec 9- The U.S. Congress is expected this week to put off until 2015 any decisive action on a tangle of Internet tax issues, including online access taxes and online state sales taxes. "What we're looking at is kicking the can down the road and putting this issue into 2015," said Clay Brockman, an analyst at Height Securities. A $1.1- trillion stopgap...

  • NEW YORK, Dec 9- A former manager and a former computer programmer at Bernard Madoff's firm were sentenced to prison on Tuesday for helping the convicted fraudster run a multi-billion dollar Ponzi scheme. The judge also ordered Bongiorno and O'Hara to forfeit a symbolic $155 billion and $19.7 billion, respectively, jointly with other defendants who worked at...

  • NEW YORK, Dec 9- Strong investor demand lifted American Eagle Silver Bullion coin sales to a record for the second straight year, the U.S. Silver Bullion coin sales have reached 42.9 million coins so far this year, up from the previous record 42.7 million coins last year, the U.S. The coin sales on Dec. 8 reached 495,500, lifting them above the 2013 record, the Mint said.

  • WASHINGTON, Dec 9- The United States confirmed steep import duties on Chinese chemicals used in sanitizing water on Tuesday after a complaint the products were unfairly subsidized and sold too cheaply in U.S. markets. The companies the duties will hit include China Petrochemical International, a subsidiary of Sinopec Corp, Hubei Dinglong Chemical Co, Tianjin...

  • Dec 9- Yum Brands Inc lowered its. profit forecast for 2014, hurt by slower-than-expected sales recovery in China, following a food safety scare in July. A television report in early July showed improper meat handling by a supplier, Shanghai Husi Food, scared away customers in China, Yum's biggest market by sales.

  • NEW YORK, Dec 9- Billionaire news and information mogul Michael Bloomberg replaced the founding editor at his eponymous news service with Economist Editor-in-chief John Micklethwait, moving aggressively to broaden the one-time financial newswire beyond its core Wall Street audience. The announcement on Tuesday marks the latest shakeup since Michael...

  • NEW YORK, Dec 9- The S&P 500 ended nearly flat on Tuesday as concerns about global weakness and political turmoil were offset by gains in technology and energy shares. Advancing issues outnumbered declining ones on the New York Stock Exchange by a ratio of 1.53 to 1. Still, the number of NYSE stocks making new 52- week lows was 255, compared with just 117 making new...

  • NEW YORK, Dec 9- The S&P 500 ended nearly flat on Tuesday after falling more than 1 percent earlier in the session as concerns about global weakness and political turmoil were offset by gains in technology and energy shares.

  • NEW YORK, Dec 9- Fund managers are stampeding into shares of U.S. long-haul trucking company Swift Transportation Co as oil prices touch five-year lows, but some analysts say a shortage of drivers may slam the brakes on the rally. Portfolio managers from Goldman Sachs, Fidelity, and Federated Investors were among the 65 funds that added Swift shares to their...

  • SHANGHAI, Dec 10- "High leverage, low thresholds!" The website, Jinfuzi.com, will let investors borrow up to 10 times their principal with only 2,000 yuan down in order to buy stocks and futures. Ordinary investors, who conduct 60-80 percent of China's stock trades, charged into the market after a surprise interest rate cut by Beijing on Nov. 21, and brokerages and...

  • NEW YORK, Dec 9- Nike Inc is accusing three of its former senior shoe designers of stealing its commercial secrets and making off for German rival Adidas AG, which announced in September the trio would staff its new urban footwear design studio in Brooklyn. Nike said the designers hatched their plan last April, and pitched Adidas on a design studio that would help...

  • WASHINGTON, Dec 9- The U.S. Federal Reserve on Tuesday voted to propose requiring eight of the largest U.S. banks to hold an extra capital cushion. The rules would require banks to hold more equity if they rely heavily on short-term wholesale funding.

  • NEW YORK/ LONDON, Dec 9- Gold rose nearly 3 percent on Tuesday, hitting its highest since late October, as cautious comments from U.S. Dennis Lockhart, head of the Atlanta Federal Reserve, said late on Monday he was in no rush to drop the Fed's pledge to keep interest rates near zero for a "considerable time," while San Francisco Fed chief John Williams said the phrase was...

  • US FEDERAL RESERVE VOTES TO PROPOSE EXTRA CAPITAL REQUIREMENT FOR EIGHT BIG U.S.

  • OTTAWA, Dec 9- Prime Minister Stephen Harper signaled on Tuesday that Canada would not impose regulations on the oil and gas industry to reduce greenhouse gases without simultaneous action from the United States, given the steep fall in oil prices. "The prime minister confirmed that he is in fact breaking his promise to regulate the oil and gas sector," New...