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  • *Fed raises key rate by 25 basis points. NEW YORK, Dec 16- U.S. stocks rallied in volatile trading on Wednesday after the Federal Reserve announced it is raising its key policy rate for the first time in nearly a decade. "Wrapped in dovish language, the Federal Reserve has just embarked on what will be the loosest tightening in its history," said Mohamed El-Erian, chief...

  • NEW YORK, Dec 16- Global equity markets rallied in volatile trade while the dollar lost ground on Wednesday after the U.S. "They are telling you what they are going to do in the next year, which is to investors' delight," said Michael Marrale, head of research, sales and trading at ITG in New York. The Fed's stimulus measures have helped the S&P 500 more than triple from lows...

  • *Fed hike weighs in late trade. NEW YORK, Dec 16- Oil fell more than 3 percent on Wednesday, snapping a two-day rebound after U.S. government data showed a surprise weekly build in crude inventories and the Federal Reserve raised interest rates for the first time in nine years. Data from the U.S. Energy Information Administration showed crude inventories up 4.8...

  • Earlier this year, Buffett's Berkshire Hathaway bought another $2 billion of Phillips 66 shares, more than doubling its stake. This month, however, shares of Phillips and others such as PBF Energy and Tesoro have tumbled from 8 to 12 percent, some from record or near-record highs, a turnaround that some dealers have linked to talk of ending the exports ban, a move...

  • NEW YORK, Dec 16- The U.S. dollar fell against a basket of major currencies in the wake of the Federal Reserve's first benchmark interest rate hike in nearly a decade, erasing gains made immediately after the decision. In a news conference following the Fed statement, Fed Chair Janet Yellen said the U.S. economy had held up and grown at a solid pace.

  • U.S.-LISTED ULTILITIES SELECT SECTOR SPDR FUND ADVANCES TO NEW DAILY HIGH AT 2.5 PCT DURING YELLEN CONFERENCE.

  • MEDIA-MACEDONIAN PM SAYS OPEN TO CHANGING COUNTRY'S NAME TO. END SPAT WITH GREECE- GUARDIAN@ Greece- Guardian@. --Note: Reuters has not verified this story and does not vouch for its accuracy.

  • MEXICO CITY, Dec 16- Mexico's peso, which has been pummeled by fears a U.S. interest rate hike would spur investor flight, rose over 1 percent on Wednesday after the U.S. Federal Reserve raised borrowing costs. The currency, which has tumbled more than 15 percent this year, reversed earlier session losses to gain over 1 percent.

  • LONDON, Dec 16- Louis Dreyfus Commodities said on Wednesday it has appointed Anthony Tancredi, its former cotton chief and 30- year company veteran, to run its global sugar business, the latest management shake-up at one of the world's biggest agricultural merchants. He will oversee 16 operations from Singapore to Brazil to Switzerland that handle raw and...

  • NEW YORK/ LONDON, Dec 16- Gold held gains on Wednesday, after the Federal Reserve raised U.S. interest rates for the first time in nearly a decade, as expected, making clear it was a tentative beginning to a "gradual" tightening cycle. "Gold has held steady as the dovish statement and lower dot plot has leavened the impact of the first rate hike in nine years," said Tai Wong,...

  • OTTAWA/ WASHINGTON, Dec 16- Canada is set to hold back on ratifying a key Asia-Pacific trade treaty, a move that would assuage critics but might hamper Washington's bid to build domestic support for the deal, according to sources close to the talks. Canada is one of 12 nations that initialed the Trans-Pacific Partnership in early October, agreeing in principle to...

  • FACEBOOK PARTNERS WITH UBER FOR RIDE-HAILING SERVICE VIA. Dec 16- Facebook Inc said on Wednesday it partnered with Uber to allow Facebook users to request a ride from their messenger service, without the need to download a ride-hailing app or leave a conversation. The service will be available to select users in locations where Uber operates in the United...

  • PARIS, Dec 16- France has detected the first cases of low pathogenic H5N3 bird flu and found more cases of. Three cases of H5N3 bird flu were found at three different farms in the southwest, the French agriculture ministry said in a report posted by the World Organisation for Animal Health on Wednesday. France, the European Union's largest agricultural producer,...

  • CHICAGO, Dec 16- The interest rate hike announced today by the Federal Reserve is a major milestone for retirees, who have been caught between a rock and hard place ever since the Great Recession, with zero interest rates and higher-than-average inflation. The Fed's quarter-point hike in the benchmark federal funds rate is the first in nearly a decade, and it...

  • WASHINGTON, Dec 16- Companies that share data with the U.S. government for cyber security purposes will get more protection from consumer lawsuits under a measure piggybacked onto a massive federal spending bill unveiled in Congress on Wednesday. The cyber-security proposal, widely supported by the business community, amounts to Congress's first major...

  • Dec 16- Facebook Inc said on Wednesday it launched its instant articles service for Android users which allows media firms to publish articles directly to the social network's news feeds. The service involves more than 350 publications worldwide including the New York Times, NBC News, the Guardian, Haaretz and Al Jazeera English. Instant articles was launched...

  • SAN FRANCISCO, Dec 16- Ride-hailing app Lyft has hired a startup veteran to lead its East Coast operations, the latest sign the company is ramping up efforts to win over regulators and beat back competitors in key cities such as New York. Lyft, which makes a smartphone app that allows passengers to summon a ride, has opened offices in major East Coast cities such as...

  • U.S.-LISTED FINANCIAL SELECT SECTOR SPDR FUND RETREATS FROM EARLIER GAIN AS YELLEN SPEAKS; NOW FLAT ON THE DAY.

  • NEW YORK, Dec 16- The Federal Reserve aggressively expanded a new policy tool to help it raise U.S. interest rates, saying on Wednesday it anticipated about $2 trillion in bids for a facility to help mop up excess cash in financial markets. The U.S. central bank, which raised rates modestly on Wednesday as expected, also announced it would vastly ramp up a so-called...