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  • SYDNEY, Dec 8- Australia is attempting to let the air out of a housing bubble without also deflating a vital source of economic growth or stressing a deeply-indebted household sector. "This leaves a sense that it will be hard to get the goldilocks adjustment the RBA would like, which stabilizes risks without snuffing out the growth contribution from housing," said...

  • *China challenges Germany as world's top solar producer. Even as China is set to overtake Germany as the country with the world's highest installed solar capacity, growth in small-scale solar such as rooftop panels has been so weak that planners didn't even bother setting new targets this year for installations under 20 megawatts in size.

  • *EU leaders to meet in Brussels at the end of next week. BRUSSELS, Dec 7- The man running negotiations with Britain to keep it in the European Union said leaders could seal a deal in February but warned David Cameron that a central demand to curb immigration may be asking too much. Many governments are willing to make changes to keep Britain in the Union.

  • *WTI settles below $38, lowest close since February 2009. NEW YORK, Dec 7- Crude oil futures tumbled 6 percent on Monday, reaching their lowest in nearly seven years, after OPEC failed to address a growing supply glut, while a stronger dollar made it more expensive to hold crude positions. OPEC oil ministers dropped any reference to the group's output ceiling for the...

  • NEW YORK, Dec 7- British finance minister George Osborne strongly criticised the U.S. Congress's approach to China during a visit to New York on Monday, calling its decision to oppose a greater Chinese role in the International Monetary Fund a "tragedy". Britain had a rare diplomatic rift with the United States this year when it became the first Western nation to...

  • *Drop in oil prices drive U.S. NEW YORK, Dec 7- U.S. long-dated Treasury debt prices rallied on Monday, boosted by the drop in oil prices which suggests inflation in the world's largest economy would remain benign. "The likely Federal Reserve tightening and the drop in stocks and commodities are narrowing and flattening the yield curve considerably," said Kim Rupert,...

  • NEW YORK, Dec 7- The International Coffee Organization said on Monday it raised its global coffee consumption estimate to 149.8 million 60- kg bags in 2014 due to higher-than-expected demand in the European Union. This is up around 0.4 percent, or 638,000 bags, from last month's estimate and up 1.8 percent from 2013, data in the ICO's monthly newsletter showed.

  • NEW YORK/ SEATTLE, Dec 7- Boeing Co on Monday showed off its newest jetliner, a second major revamp of the workhorse 737 it introduced 50 years ago, as its best-selling plane shows signs of losing some ground in the marketplace to rival Airbus. But Airbus' competing A320neo is outselling the 737 MAX, even as both plane makers face challenges to sell their...

  • *Paris talks on global climate deal resume after one-day break. PARIS, Dec 7- Organizers of global climate talks in Paris sounded hopeful on Monday that they could reach a deal by the end of the week, even if there was little indication of how differences over funding in particular would be resolved. Secretary of State John Kerry, began arriving in Paris for the last...

  • WASHINGTON, Dec 7- The United States is temporarily easing trade restrictions on Myanmar by allowing all shipments to go through its ports and airports for six months, an effort to boost the Southeast Asian country's opposition party after its landmark election win in November, U.S. officials said on Monday. To bolster Myanmar's transition to democracy after...

  • Dec 7- Verizon Communications Inc's finance chief, Fran Shammo, said the No. 1 U.S. wireless carrier could look at buying Yahoo Inc's core business, which includes Mail, its news and sports sites and advertising technology. Yahoo's search and display ad businesses, which account for the lion's share of its total revenue, have been struggling and Chief Executive...

  • WASHINGTON, Dec 7- The U.S. Transportation Department said Monday it will award up to $40 million to a mid-size U.S. city to pilot efforts to use technology to reduce congestion and speed traffic. The full $40 million is contingent on Congress approving funding in future budget years. Congress declined to boost gasoline taxes to pay for additional repairs, opting...

  • *After eight years of recession, Greece hopes for growth in 2016. *Trust badly damaged between Athens and Brussels. ATHENS, Dec 7- After a tumultuous year of two elections, a referendum, a default, a bank shutdown, capital controls and a tidal wave of migrants, it's amazing that Greece is still standing, like the Parthenon towering over Athens.

  • WASHINGTON, Dec 7- The United States is temporarily easing trade restrictions on Myanmar by allowing all shipments to go through its ports and airports for six months, an effort to boost the country's opposition party after its landmark election win in November, U.S. officials said on Monday. The trade relief, coming after democracy champion Aung San Suu Kyi's...

  • Dec 7- Carl Icahn offered to buy Pep Boys-Manny, Moe& Jack in a deal valuing the U.S. auto parts retailer at about $837 million, trumping Japanese tire maker Bridgestone Corp's offer of $810 million. Icahn Enterprises LP offered $15.50 per Pep Boys share in cash, a 1.2 percent discount to Friday's close, but higher than Bridgestone's offer of $15 per share, also in cash.

  • Bonds from the sovereign as well as state oil firm Petroleos de Venezuela rose as much as 4.2 cents on the dollar, moves expected to extend further if the opposition fulfills its expectations of a two-thirds majority. The 2028 rose 2.6 cents, while the 2038 issues firmed up 2.6 cents. The 2027 issue, considered the benchmark for Venezuela, were last up 2.59 cents,...

  • "I have quite low expectations of anything meaningful coming out of Paris" for the near term, said Edward Guinness, portfolio manager at the Guinness Atkinson Alternative Energy Fund in London. The United States, France, India and 17 other countries have promised to double the amount they were collectively expected to spend on clean energy research and...

  • Dec 7- Carl Icahn's Icahn Enterprises LP offered to buy auto parts company Pep Boys- Manny, Moe& Jack in a deal valued at about $837 million. Japanese tire maker Bridgestone Corp said in October that it would buy Pep Boys for $835 million. "We believe our proposal is clearly superior to the $15.00 per share Bridgestone transaction," Icahn Enterprises' Chief Executive...

  • DUBAI, Dec 7- Cisco's executive chairman on Monday declined to say whether it would cede to China's demands to be able to control equipment deployed in the world's largest internet market, instead pledging to find a "win-win" solution. Cisco's commitment comes despite unease among foreign business groups over a China national security law adopted in July...

  • OTTAWA, Dec 7- Canada will give aboriginal groups more say in discussions over natural resource projects located on their territory, which should help pave the way for major pipelines and mines, the country's new energy minister said on Monday. Asked whether the new assessment process meant aboriginal interests could block development of a pipeline, Natural...