U.S. crude dropped 64 cents to $99.30 a barrel by 0034 GMT, after settling $1.09 down at $100.03, its lowest since Feb. 11. *Ukraine's government appealed for Western help on Tuesday to stop Moscow annexing Crimea but the Black Sea peninsula, overrun by Russian troops, seemed fixed on a course that could formalise rule from Moscow within days.» Read More
Treasury debt gained on Wednesday as U.S. Senate leaders announced a deal to prevent the United States from defaulting on its debt and end the government shutdown.
Oct 16- Bank of America Corp posted a higher-than-expected quarterly profit on Wednesday as growth in its consumer and wealth management arms underscored the bank's progress in stitching together businesses it picked up in the financial crisis.
WASHINGTON, Oct 16- U.S. Senate leaders struck a bipartisan 11th- hour deal to break the fiscal impasse on Wednesday, and the Republican-led House of Representatives agreed to take it up as Congress moved to avert a historic debt default.
U.S. stocks surged, nearing an all-time high, on news of the deal, which must still be approved by vote in the Senate and the House of Representatives.
WASHINGTON, Oct 16- Federal Reserve Chairman Ben Bernanke does not have to testify in the multibillion-dollar lawsuit by the former chief of American International Group Inc against the United States over the insurer's 2008 bailout, a federal appeals court said on Wednesday.
BRASILIA, Oct 16- Brazilian Finance Minister Guido Mantega said on Wednesday that an end to the political impasse in Washington to raise the U.S. borrowing limits would be a relief for the world economy.
LONDON, Oct 16- As the dust settles on the global credit crisis, a new world financial order may be emerging- but one possibly more dependent than ever on the United States protecting the dollar's position as dominant reserve currency.
Loblaw, which is buying Shoppers Drug Mart Corp for C $12.4 billion to strengthen its competitiveness, said the cuts would come from management and administrative positions. Loblaw shares, which have risen some 12 percent this year, were up 1.9 percent to C $46.87 in Toronto.
*Fed to buy $2.75 bln- $3.50 bln notes due 2020-2023 Thursday. NEW YORK, Oct 16- Yields of some Treasuries bills fell from five-year highs on Wednesday after lawmakers looked set to make a deal to lift the debt ceiling until February, though damage from the brinkmanship in Washington was seen as likely to continue to weigh on the market.
*Senate leaders announce agreement reached. NEW YORK, Oct 16- U.S. stocks surged more than 1 percent on Wednesday after Senate leaders said they had a deal to reopen the federal government and raise the debt ceiling to avoid a U.S. debt default.
TORONTO, Oct 16- Egyptian telecom magnate Naguib Sawiris said on Wednesday the lack of clarity around Ottawa's telecom policy has put Wind Mobile, the largest new entrant in the Canadian wireless market, at risk of going bust.
NEW YORK, Oct 16- Privately-held natural gas exploration and production company Rice Energy is planning for an initial public offering that could value the company at as much as $2.5 billion, according to people familiar with the matter. It has tapped Barclays PLC to lead the IPO, two of the people said.
OTTAWA, Oct 16- Canada's Conservative government on Wednesday highlighted a populist, pro-consumer approach ahead of a 2015 election, but says it will continue to push for more jobs and economic growth.
WASHINGTON, Oct 16- The U.S. economy was sailing smoothly, if not swiftly, before parts of the government shut down this month, according to a snapshot from the Federal Reserve that provided the fullest view of the recovery since federal data dried up.
WASHINGTON, Oct 16- The Club for Growth, a conservative advocacy group that backs lower government spending, urged the U.S. Senate and House of Representatives on Wednesday to vote "no" on a bipartisan deal to raise the debt limit and end the federal shutdown.
WASHINGTON, Oct 16- The U.S. Senate is expected to vote later on Wednesday on legislation to increase the nation's borrowing limit and fund government agencies, a Senate Democratic leadership aide said. The aide said the vote could come either late afternoon or early evening.
DETROIT/ CHICAGO, Oct 16- A deal over the U.S. budget crisis and government shutdown cannot come soon enough for many companies.
WASHINGTON, Oct 16- A defiant Senator Ted Cruz railed against a bipartisan U.S. Senate deal to lift the federal debt limit and reopen the government on Wednesday, but said he would not try to block or delay its passage.
*Senate deal likely to be approved by House. NEW YORK, Oct 16- The dollar rose on Wednesday after the Senate announced a deal that would avert a U.S. default on its debt and re-open a government that has been partially shut down for two weeks.
WASHINGTON, Oct 16- The London Whale is the gift that keeps giving for regulators. JPMorgan Chase& Co has agreed to pay the latest in a string of fines for the disastrous trades, and admit wrongdoing, this time in a settlement with the U.S. Commodity Futures Trading Commission.