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  • NEW YORK, Dec 30- A federal judge has rejected Wachtell, Lipton, Rosen& Katz's bid to dismiss CVR Energy Inc's lawsuit accusing the prominent New York law firm of malpractice in advising on a 2012 hostile takeover of the oil refiner by billionaire Carl Icahn. District Judge Richard Sullivan in Manhattan declined to end the federal case even though a New York state...

  • Pimco fires money manager after CME Group violation Tuesday, 30 Dec 2014 | 3:49 PM ET

    NEW YORK, Dec 30- California- based bond giant Pimco has dismissed money manager Rahul Seksaria after CME Group Inc, the world's largest futures market operator, fined him for a trading violation. In a notice online, CME Group said that Seksaria "orchestrated and prearranged trades in the June 2015 Eurodollar futures contract opposite one of his employer's...

  • The investigation, which is not being carried out by any financial regulator, was prompted after a Bloomberg report cited undated messages sent to BP's employees by a network of foreign-exchange traders at four major banks about planned currency trades "sometimes hours before they happened", the FT reported. Last month, financial regulators in the United...

  • NEW YORK, Dec 30- A wave of risk aversion swept through global markets on Tuesday, with light volume magnifying moves, as end-of-year trades focused on worries about Greece's future in the euro zone, pushing shares lower and lifting the safe-haven yen, silver and gold. An MSCI gauge of stocks in major markets fell 0.6 percent, weighed by a 1.6 percent drop in Tokyo's...

  • WASHINGTON, Dec 30- The chief financial officer of Washington, D.C. cut his projections for the district's revenue this fiscal year by $83.4 million, in a report released on Tuesday. The projected total revenue of $6.58 billion would still be 4.3 percent more than that collected in fiscal 2014, according to the independent CFO, Jeffrey Dewitt.

  • LOS ANGELES, Dec 30- The upcoming installment of the "Star Wars" franchise tops moviegoers' lists of most anticipated films of 2015, ticket seller Fandango said on Tuesday in what Hollywood watchers expect to be a banner box office year for studios. The new "Star Wars" film, which will be the first produced by Walt Disney Co, is set to be released on Dec. 18 and the reboot of...

  • BOSTON, Dec 30- Wealthy investors are poised to put at least $90 billion into hedge funds next year, even after returns have largely been lackluster this year, research firm eVestment said on Tuesday. The short answer is yes, "they wrote, adding" We expect asset flows into hedge funds of at least between $90 billion and $110 billion in 2015. "Hedge funds manage roughly...

  • That the rest of the world, China, Japan and Europe will all see weakness will only reinforce the attraction of dollar assets, which will benefit particularly from the easy monetary conditions. It has been a time of gifts for the United States, with the economy expanding at a 5 percent clip in the third quarter, the best showing since 2003. Particularly encouraging...

  • WASHINGTON, Dec 30- The U.S. Department of Commerce said it gave "some" oil companies on Tuesday permission to export a lightly processed crude oil, taking the first action in several months on applications from about 20 energy companies eager to ship the fuel abroad. The Bureau of Industry and Security, an office of the Commerce Department, did not say how many...

  • *Further upside seen as limited after recent gains. *Civeo shares plummet a day after results. NEW YORK, Dec 30- U.S. stocks fell on Tuesday, as the recent rally lost steam to pull major indexes off record levels, while the trend of modest moves and low volume continued moving into the final trading day of the year.

  • Dec 30- A federal appeals court said on Tuesday the pomegranate juice maker Pom Wonderful LLC may try to stop a rival from selling a pomegranate-flavored energy drink labeled "pm," in a reversal of a lower court ruling in the trademark lawsuit. The 9th U.S. Circuit Court of Appeals in Pasadena, California, said a lower court judge abused her discretion in January when...

  • Treasury prices gained on Tuesday as stocks were weaker and investors kept a cautious tone due to uncertainty over Greece's future in the euro zone. The left-wing Syriza party, which opposes Greece's EU/IMF bailout and is leading in opinion polls ahead of an election next month, has said it wants to abandon many of the drastic spending cuts that are central to...

  • Dec 30- The U.S. Department of Commerce released on Tuesday a long-awaited explanation of what petroleum is allowed to be shipped under the nation's contentious 40- year ban on exports of most domestic crude. The new guidance from the Bureau of Industry and Security was posted on its Frequently Asked Questions webpage at around 1 pm EST. The text was briefly...

  • *Stocks down in Europe, Wall Street; euro near 2-1/ 2 year low. NEW YORK, Dec 30- A wave of risk aversion swept through global markets on Tuesday, with light volume magnifying moves, as end-of-year trades focused on worries about Greece's future in the euro zone, pushing shares lower and lifting the safe-haven yen, silver and gold. "Basically we just followed Europe, with...

  • *Stock touches record high of $14.12. Dec 30- NeuroDerm Ltd's shares more than doubled in value on Tuesday, after the company said data from a mid-stage study suggested that a higher dose of its Parkinson's drug could provide an alternative to treatments that require surgery. The trial evaluated two liquid formulations of the drug, levodopa/carbidopa, in 16...

  • Dec 30- So-called "smart beta" funds, the fastest-growing segment of the exchange-traded fund market, are sold as index funds but are actively- sometimes frenetically- traded portfolios that can whipsaw investors and often fail to deliver the outsized returns their issuers promote. Over the last one- and three-year periods, they have on average lagged their...

  • WASHINGTON, Dec 30- The Obama administration released on Tuesday a long-awaited explanation of what petroleum is allowed to be shipped under the contentious 40- year ban on exports of most domestic crude. The Bureau of Industry and Security released the guidance in the form of frequently asked questions, or FAQ, in the first effort by the administration to...

  • BUENOS AIRES, Dec 30- Crunch time for Argentina fixing its debt default will almost certainly not be January, as many investors had hoped, but a year later once the country's next president takes office and tries to get the ailing economy moving again. Despite a U.S. court order to fully repay the $1.3 billion debt plus interest, Argentina insists the hedge funds...

  • *Further upside seen as limited after recent gains. *Civeo shares plummet a day after results. NEW YORK, Dec 30- U.S. stocks edged lower on Tuesday, with major indexes pulling back from record levels as the recent rally lost steam, and the trend of modest moves and low volume continued heading into the final trading day of the year.

  • PROCESS OF USING FLASH DRUMS WITH HEATER TREATERS OR SEPARATORS ALONE DO NOT QUALIFY AS DISTILLATION OF OIL FOR EXPORT-US.