LONDON, Oct 23- On Oct. 20, 1973, King Faisal of Saudi Arabia imposed a total embargo on oil shipments to the United States among other countries in response to their support for Israel during the Arab-Israeli war. Following the U.S. mid-term elections next month, Congress will take up the issue again, a debate that would benefit from an understanding of the history...» Read More
JUNE NAHB HOUSING MARKET INDEX 49 VERSUS 45 IN MAY.
*Sunni Islamists solidify grip on northern Iraq. LONDON, June 16- Brent crude held above $112 a barrel on Monday after a strong rally last week, as advances by Sunni insurgents in Iraq raised concerns over a potential disruption to oil exports from the second-largest OPEC producer.
NEW YORK, June 16- Morgan Stanley, an adviser to Valeant Pharmaceuticals International Inc in its $53 billion hostile bid for Allergan Inc, initially tried to get hired by Allergan and in its pitch called the unsolicited bidder a "house of cards", according to Allergan.
*Bonds gain safety bid on Iraq, Ukraine tensions. Worries about Iraq were intensifying after Sunni insurgents seized a mainly ethnic Turkmen city in northwestern Iraq on Sunday after heavy fighting, solidifying their grip on the north after a lightning offensive that threatens to dismember Iraq.
*Russia and Ukraine fail to agree on gas price. KIEV/ GORKI, Russia, June 16- Russia cut off gas to Ukraine on Monday in a dispute over unpaid bills that could disrupt supplies to the rest of Europe and set back hopes for peace in the former Soviet republic.
Without comment, the high court left intact lower court rulings that ordered Argentina to pay. Argentina is seeking to avoid making full payment to holdout creditors led by hedge funds Aurelius Capital Management and NML Capital Ltd, a unit of billionaire Paul Singer's Elliott Management Corp..
The company's offering of 27.8 million shares is expected to be priced at between $17 and $19 each, Michaels said in a filing with the U.S. Securities and Exchange Commission on Monday.
WASHINGTON, June 16- The U.S. Supreme Court on Monday left intact the insider trading conviction of Galleon Group hedge fund founder Raj Rajaratnam. The court declined to hear Rajaratnam's appeal, meaning a June 2013 decision by the 2nd U.S. Circuit Court of Appeals in New York upholding the conviction is the final word in the case.
WASHINGTON, June 16- The U.S. Supreme Court on Monday declined to hear Argentina's appeal over its bid to avoid paying $1.33 billion to hedge fund creditors or risk a potential default. Without further comment, the high court left intact lower court rulings that ordered Argentina to pay.
*Deal for $40.86 per share in cash and stock. June 16- Telecommunications services company Level 3 Communications Inc said it would buy internet services provider tw telecom Inc for $40.86 per share in cash and stock to expand its commercial fiber network in the United States.
TORONTO, June 16- Sales of existing homes in Canada jumped in May from April driven by a sharp increase in listings and a deferred start to the spring buying season after a long winter, the Canadian Real Estate Association said on Monday. Actual sales for May, not seasonally adjusted, were up 4.8 percent from May 2013.
NEW YORK, June 16- U.S. stocks opened slightly lower on Monday as investors continued to watch the ongoing tension in Iraq, which many worry could lead to elevated oil prices for an extended period.
MUST TAKE STEPS TO BOOST PRODUCTIVITY, INCREASE LABOR FORCE PARTICIPATION.
GROWTH FORECAST TO 2 PCT FOR 2014 FROM APRIL FORECAST OF 2.8 PCT, DUE TO WEAK FIRST QUARTER.
IMF WARNS OF POTENTIAL RISK TO FINANCIAL STABILITY FROM LOW INTEREST RATES.
GROWTH AROUND 2 PCT FOR NEXT SEVERAL YEARS, BELOW HISTORIC AVERAGE; SEES ECONOMY REACHING FULL EMPLOYMENT ONLY BY END-2017.
IMF SEES RISK OF' SIGNIFICANT' MARKET VOLATILITY IN MONTHS AHEAD, EVEN IF U.S.
WASHINGTON, June 16- The International Monetary Fund cut its growth forecast for the United States on Monday and said the economy would not reach full employment until the end of 2017, allowing the Federal Reserve to bide its time before raising interest rates.
IMF SAYS IF INFLATION STAYS MUTED, FED COULD KEEP RATES NEAR ZERO LONGER THAN MID-2015.