*Germany opposes use of bailout fund as backstop for financing bank closures. BRUSSELS, Dec 10- European Union finance ministers are likely to take a political step towards creating a banking union with powers to close down failing banks on Tuesday, but leave nagging legal details to another time, perhaps next week.» Read More
WASHINGTON, June 25- President Barack Obama will kick-start a global climate agenda on Tuesday with a plan to limit carbon pollution from all U.S. power plants that is sure to face opposition from the coal industry, many business groups and Republican lawmakers.
WASHINGTON, June 25- A U.S. appeals court on Tuesday rejected a plea by the financial industry to overturn a new rule requiring some funds to register with federal derivatives regulators.
June 25- Canada's Enbridge Inc has returned a major section of the 540- km Athabasca oil pipeline to service, after a spill on a smaller line disrupted the flow of oil sands crude and forced Suncor Energy to shut in output in Alberta.
NEW YORK, June 25- U.S. consumer confidence jumped in June to its highest level in over five years as Americans were more optimistic about the prospects for the labor market, according to a private sector report released on Tuesday. It was the highest since January 2008 and beat expectations for 75.4.
Domestic high-yield issuer TransDigm also stepped forward with a new deal, as borrowers defied talk that the new issue freeze would hold until after the July 4 holiday due to market jitters. UK telecoms giant BT announced a USD600m SEC-registered three-year senior unsecured fixed note via RBS, BNP Paribas, Citi, Deutsche and HSBC.
ATHENS, June 25- Greece's weakened coalition government is expected to survive the departure of a junior partner for now but will be forced to resist any fresh demands from its foreign lenders to prevent its tiny parliamentary majority from crumbling.
Oil's fall below the $100 a barrel favoured by OPEC exposes the deepening divide between those in the group most able to withstand a lower price and those most hurt by it. ID: nL5N0F02HJ 3/ 8 Following is a table showing estimates of the price per barrel below which different OPEC countries have financial concerns:.
LONDON, June 25- Oil's fall below the $100 a barrel favoured by OPEC exposes the deepening divide between countries in the group better able to cope with a lower price and those most hurt by it, making collective action to halt any further price slide harder.
PARIS, June 25- European governments are hoping a leading role for the European Central Bank and a more detailed review of assets will give the latest round of stress tests for the region's banks what they have lacked in the past- credibility.
WASHINGTON, June 25- Sales of new U.S. single-family homes rose to their highest level in nearly five years in May, confirming the housing market's strengthening tone. The Commerce Department said on Tuesday sales increased 2.1 percent to a seasonally adjusted annual rate of 476,000 units- the highest level since July 2008.
NEW YORK, June 25- Former American International Group Chief Executive Maurice "Hank" Greenberg failed to persuade New York state's highest court to dismiss a lawsuit seeking to hold him accountable for sham transactions at the insurer.
June 25- Lennar Corp reported a 27 percent rise in orders in the critical spring selling season as its large land bank helped it take advantage of a recovering U.S. housing market. Lennar booked orders for 4,481 homes in the year-ago spring quarter.
TORONTO, June 25- U.S. hedge fund Scout Capital Management disclosed on Tuesday that it has sent a letter to Tim Hortons Inc's board urging the Canadian coffee and doughnut chain to optimize its capital structure and alter its approach to its U.S. expansion.
*Rome's two-year borrowing costs hit highest since September 2012. MILAN/ MADRID, June 25- Italy and Spain had to pay much more to auction 7.6 billion euros of debt on Tuesday, reflecting market unease about the future of the central bank monetary stimulus that has fanned global demand for riskier assets.
*Gold correlation with stocks turns negative after a decade. LONDON, June 25- Further gains in global stock markets this year will be a signpost of more losses for gold, according to analysts, citing a re-established negative correlation between the two assets.
NEW YORK, June 25- The dollar recovered from early losses and rallied against the euro on Tuesday after a report showed orders for long-lasting U.S. manufactured goods rose more than expected in May and a gauge of planned business spending increased for a third straight month.
*Durable goods orders rise 3.6 pct in May. WASHINGTON, June 25- Orders for long-lasting U.S. manufactured goods rose more than expected in May and a gauge of planned business spending increased for a third straight month, the latest signs of a pick-up in economic activity.
June 25- Men's Wearhouse Inc said it fired founder and Executive Chairman George Zimmer after he pushed to take the company private and effectively demanded to be reinstated as the sole decision maker at the clothing chain.
*Europe above all needs growth to kickstart hiring. Leaders agreed in April to set aside 6 billion euros from their long-term budget, which runs from 2014-2020, to combat youth joblessness, with more than half of under-25s in Greece, Spain and some other regions out of work.