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  • NEW YORK, Dec 22- The National Stock Exchange relaunched on Tuesday with a low-cost model its new management says will challenge current industry practices and could save U.S. investors billions if adopted market-wide. NSX reopened as the 12th U.S. stock exchange following a shutdown of more than a year-and-a-half due to a lack of trading volume.

  • ATHENS/ TORONTO, Dec 22- Greece's third-largest lender Eurobank agreed to sell an 80 percent stake in its Eurolife ERB insurance subsidiary to Canada's Fairfax Financial Holdings Ltd for 316 million euros on Tuesday, deepening ties between the two firms. Toronto- based investment holding firm Fairfax, led by well known contrarian investor Prem Watsa has made...

  • BRASILIA, Dec 22- Brazil's new finance minister, Nelson Barbosa, said on Tuesday that he sees no need to inject capital into debt-laden Petroleo Brasileiro SA as new management of the state-run oil company seeks to revive its finances. His position on Petrobras, as the company is known, echoed that of his predecessor, Joaquim Levy. Since being appointed on Friday...

  • NEW YORK/ TORONTO, Dec 22- Dominion Diamond Corp has been working with its long-time banker Rothschild& Co to find ways to boost shareholder value including a potential sale, according to a source familiar with the matter. In a securities filing on Monday, a group of investors led by Toronto- based K2& Associates said they had requested for a meeting with Dominion's...

  • WASHINGTON, Dec 22- Atlanta-basaed Gray Television Inc has won U.S. antitrust approval to buy Schurz Communications, Inc on condition that it sells two television stations, the Justice Department said on Tuesday. The stations to be sold are WSBT-TV in South Bend, Indiana, and KAKE-TV in Wichita, Kansas, the department said. The antitrust laws render those...

  • *Q3 GDP growth at 2 percent. Dec 22- U.S. stock indexes held on to small gains in early afternoon trading on Tuesday as crude oil prices recovered slightly and data showed that the U.S. economy grew at a fairly healthy clip in the third quarter. Chevron shares were up 1.1 percent at $90.27, while Exxon was up 0.7 percent at $77.74.

  • U.S. prosecutors had sought a sentence of over three years in prison for Galen Marsh, who worked in Morgan Stanley's private wealth management division and was fired last January in connection with the data breach. District Judge Kevin Duffy in Manhattan instead sentenced Marsh to three years of probation and ordered him to pay Morgan Stanley $600,000 in...

  • Dec 22- An outbreak of E. coli linked to rotisserie chicken salad sold by warehouse club operator Costco Wholesale Corp appears to be over, the U.S. Centers for Disease Control said on Tuesday. The Costco outbreak was initially traced to a celery-and-onion mix made by Taylor Farms Pacific Inc used in making the chicken salad. Products were recalled from chains...

  • *Oil prices show signs of stabilizing, Spain rebounds. *USG People surges after Japanese takeover offer. LONDON/ MILAN, Dec 22- European stocks ended little changed on Tuesday after a volatile day but energy plays rose as oil prices recovered, while Spanish equities rebounded following a sell-off in the previous session prompted by concerns over a political...

  • *Market to rebalance in fourth quarter 2016- Goldman Sachs. Brent crude for January delivery touched $36.05 a barrel earlier in the day, a penny above a July 2004 low that will be its next resistance level, before rebounding to $36.46 a barrel at 11:38 a.m. EST. "It's somewhat of a defensive posture and a reasonable posture before the beginning of the year," said John...

  • Tanzania said in March it plans to spend $14.2 billion to construct a new standard gauge rail network in the next five years, to be financed with commercial loans as the country aims to become a regional transport hub. Magufuli, who took office last month, has pledged to root out corruption and inefficiency in Tanzania and has already sacked several senior...

  • CRUDE TRADES AT A 5 CENT- A-BARREL PREMIUM TO BENCHMARK BRENT CRUDE BEFORE RETREATING TO A DISCOUNT.

  • NEW YORK, Dec 22- U.S. regulators have agreed to slap countervailing duties of up to 7.69 percent on heavy-walled rectangular welded carbon steel pipes and tubes from Turkey, according to a preliminary ruling announced on Tuesday. The news comes after regulators found reasonable evidence U.S. producers of steel pipes and tubes have been injured by imports from...

  • LONDON, Dec 22- Seven of the biggest investment banks operating in London paid little or no tax in Britain last year, despite reporting billions of dollars in profits, a Reuters analysis of corporate filings shows. In recent months, the seven investment and corporate banks operating in London reported figures showing they paid a combined $31 million in...

  • FILTON, England, Dec 22- Twelve months and 80 signatures: that is what it recently took Rolls-Royce to approve a small change requested by a supplier, symptomatic of a business that had become as complex as the engines it makes to power the world's biggest jets. New chief executive Warren East says the number of sign-offs should be closer to 15, and it's an example of...

  • NEW YORK, Dec 22- As people enter the holiday rush and head to their vacations, odds are they are laden with multiple heavy bags. Virtually every airline now charges for checked bags on domestic flights- usually $25 for the first one, $35 for the next, with additional fees for baggage that exceeds weight limits. The Los Angeles native and author of "Pack Light Stylishly"...

  • NEW YORK, Dec 22- Wall Street rose on Tuesday, buoyed by energy shares as oil prices rebounded off multi-year lows, as investors digested mixed U.S. data about home resales and economic growth. U.S. crude prices rose 1.1 percent to $36.21 a barrel, while Brent added 0.3 percent to $36.44 a barrel. Wall Street has been closely correlated with energy prices in recent...

  • *Q3 GDP growth at 2 percent. Dec 22- Wall Street was higher on Tuesday morning as crude oil prices recovered from multi-year lows and data showed that the U.S. economy grew at a healthy clip in the third quarter. Chevron shares were up 1.7 percent at $90.74 and gave the biggest boost to the S&P.

  • SAO PAULO, Dec 22- Brazil's real and the Colombian peso strengthened against the dollar on Tuesday, outperforming the bulk of Latin American currencies that were little changed from Monday. The real gained about 1 percent to 3.98 reais per dollar, snapping a decline of almost 2 percent on Monday triggered by the late Friday announcement of the departure of...

  • WINNIPEG, Manitoba/ LONDON, Dec 22- U.S. soybean prices rose on Tuesday, boosted by patchy rainfall in parts of major exporter Brazil, while wheat also edged up on concerns that a forecast cold snap in the Black Sea region next week could diminish crop prospects. Rains look to focus on southern Brazil during the next 10 days, leaving 20 percent of the country's corn and...