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BERLIN, May 19- France has a special responsibility as a euro zone heavyweight to take deficit reduction rules seriously, even though its budget deficit is above target, Bundesbank President Jens Weidmann said in an interview published on Sunday.
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LONDON, Dec 19- Societe Generale has lost a high-profile lawsuit against a London- based investment banker that could cost France's second-largest bank up to 20 million euros.
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Ratings firm Fitch warned on Wednesday there was an increased likelihood it would strip the U.S. of its triple-A status if Washington does not prevent $600 billion of spending cuts and tax hikes from kicking in early next year.
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KIGALI, Dec 19- Relations between Rwanda and its donors have soured over a report by a U.N. group of experts that accused Kigali of backing rebels in neighbouring Democratic Republic of Congo.
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Germany's Ifo survey showed business sentiment rose for the second month running in December, raising hopes that Europe's largest economy will recover quickly from a weak end to the year. It adds to the upwards momentum in euro/dollar and euro/yen, "said Niels Christensen, FX strategist at Nordea.
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LONDON, Dec 19- Societe Generale has lost a high-profile lawsuit against a London- based investment banker that could cost France's second-largest bank up to 20 million euros.
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The fine, split about $1.2 billion for the United States and $260 million for Britain, is a drop in the ocean for two countries struggling to rein in huge budget deficits. Britain had, until recently, used regulatory fines on banks to reduce the levy the industry pays to support the Financial Services Authority watchdog.
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1997- A trading loss in equity derivatives of more than 600 million Swiss francs at the Union Bank of Switzerland forces it to accept a reverse takeover by rival Swiss Bank Corporation to form UBS. 1998- UBS makes a 793 million franc pretax loss on exposure to hedge fund Long Term Capital Management.
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LONDON, Dec 19- Ratings firm Fitch warned on Wednesday there was an increased likelihood it would strip the U.S. of its triple-A status if Washington does not prevent $600 billion of spending cuts and tax hikes from kicking in early next year.
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mission in Benghazi, Libya was grossly inadequate to deal with a Sept. 11 attack that killed a U.S. ambassador and three others because of failures within the State Department, an official inquiry found on Tuesday.
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2007- Barclays alerts U.S. regulators about its concerns that other banks are submitting dishonestly low interbank rates. 2010- Britain's Financial Services Authority launches an investigation into Barclays as part of a global probe into the industry over allegations of interest rate manipulation.
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SHANGHAI, Dec 19- China's yuan closed flat on Wednesday in the absence of fresh developments but volumes were higher than average and trade was active, suggesting the market has found a healthy equilibrium. "We are watching both domestic and overseas developments for signs of new direction," a trader at a joint-stock bank in Shanghai said.
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BERLIN, Dec 19- German business sentiment climbed for the second month running in December as confidence in the outlook surged more than at any time in the last 2-1/ 2 years, boosting hopes Europe's largest economy will bounce back quickly after a weak end to 2012..
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German business sentiment climbed for the second month running in December as firms become more confident about their business outlook.
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LONDON, Dec 19- European shares drifted higher on Wednesday as expectations built that a budget deal in the United States is close, though traders reckoned any positive outcome is already in the price.
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LONDON, Dec 19- Brent oil rose above $109 a barrel on Wednesday on expectations that a budget crisis in the United States will be resolved, which would save the world's top oil consumer from slipping into recession. Brent crude was up 33 cents to $109.17 a barrel at 0923 GMT, while U.S. oil gained 8 cents to $88.01.
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BUCHAREST, Dec 19- Romania postponed the sale of minority stakes in several state controlled companies, as agreed with the International Monetary Fund, by a year to end-2013, the government said on Wednesday.
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*Yen hits lowest level vs euro since August 2011. LONDON, Dec 19- The yen hit a 16- month low against the euro on Wednesday, dragged down by expectations the Bank of Japan will unveil more monetary stimulus when its two-day policy meeting ends on Thursday. The euro hit a 16- month peak of 111.78 yen, before pulling back to trade up 0.2 percent on the day at 111.61 yen.
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LONDON, Dec 19- Swiss bank UBS has been fined $1.5 billion by British, Swiss and U.S regulators to settle charges of manipulating global benchmark interest rates.
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Dec 19- Swiss bank UBS was fined $1.5 billion to settle charges of rigging the Libor benchmark rate, the second biggest fine ever on a global bank and the second big fine over Libor manipulation. Britain's Barclays was fined $450 million in June for rigging the rate.
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*China energy majors up on hopes for pricing reforms. HONG KONG, Dec 19- Hong Kong shares climbed to a near 17- month high on Wednesday as investors cheered signs that the U.S. can avert its "fiscal cliff" and welcomed Chinese news reports that Beijing planners want to give markets more freedom to determine energy prices.