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  • *Japan's oil product sales fall to 46- year low. *Saudi Arabia posts record budget deficit on oil collapse. "Much of today's selling is being led by the crude benchmarks that are, in turn, responding to some disappointing Japanese industrial production guidance," said Jim Ritterbusch at Chicago- based oil markets consultancy Ritterbusch& Associates.

  • *Liquidity thin with London on holiday. Trading was thin, with Australia and the London market closed for local holidays and major dealing rooms across Europe empty or operating on skeleton staffing. "It's year-end profit-taking," said Kathy Lien, managing director of FX strategy for BK Asset Management in New York.

  • *UK markets stay shut, Germany and France reopen. NEW YORK, Dec 28- Global equity markets were lower on Monday in light trading sandwiched by holidays in a number of markets, pressured by slumping oil prices and worries over growth in China's economy. "The 3- percent dive in crude oil this morning shows you that the sellers are still in control of the energy market, and...

  • *Piper Jaffray slashes PT on stock to $10 from $63. Dec 28- Chimerix Inc said its oral antiviral drug did not significantly reduce a certain kind of infection in stem cell transplant patients in a late-stage study, sending its shares to a record low. Piper Jaffray analyst Joshua Schimmer said he was stripping CMV prevention from his estimates for the drug and...

  • Treasuries were mostly flat on Monday during light trading, with the yield on two-year notes edging up to a more than five-and-a-half year high as traders balanced positions ahead of a $26 billion dollar auction of two year notes by the Treasury Department. The Treasury Department sell $90 billion of debt this week. "Five and seven year notes don't tend to do well...

  • RIYADH/ DUBAI, Dec 28- Saudi Arabia, its finances hit by low oil prices, announced plans to shrink a record state budget deficit with spending cuts, reforms to energy subsidies and a drive to raise revenues from taxes and privatisation. The International Monetary Fund warned in October that Riyadh would run out of money within five years if it did not tighten its...

  • Freeport said Moffett, who had been appointed chairman emeritus, would be a consultant to its board and advise the company on its Indonesia operations, including Grasberg. Icahn, who owned 8.8 percent stake in Freeport as of Sept. 22, has criticized the miner's spending, capital structure and executive compensation at a time when the company is struggling with...

  • Dec 28- Wall Street began the last trading week of the year in the red, dragged down by energy stocks, as oil prices resumed a slide brought on by a global oversupply. Exxon's shares were down 1.7 percent at $77.99, while Chevron was down 2.1 percent at $90.12. "The 3 percent dive in crude oil this morning shows you that the sellers are still in control of the energy market...

  • *Gold down 9 pct in 2015, eyes 6th straight quarterly loss. LONDON, Dec 28- Gold edged lower on Monday in line with a retreat in oil prices, giving up some of last week's gains, but moves were muted in thin liquidity in a holiday-shortened week. Gold rose nearly 1 percent during Christmas week, but remains on track to fall for a sixth successive quarter, its longest run of...

  • Dec 28- Freeport-McMoRan Inc co-founder James Moffett will step down as chairman and quit its board, months after the miner added two new directors under pressure from billionaire investor Carl Icahn. Moffett, who has been appointed chairman emeritus, will be a consultant to Freeport-McMoRan's board, including advising the company on its Indonesia...

  • The Dow Jones industrial average fell 28.59 points, or 0.16 percent, to 17,523.58, the S&P 500 lost 5.8 points, or 0.28 percent, to 2,055.19 and the Nasdaq Composite index dropped 16.83 points, or 0.33 percent, to 5,031.67.

  • SAO PAULO, Dec 28- Most Latin American currencies weakened in thin trade on Monday as a drop in oil prices and concerns over China's economy drove away investors from emerging markets. Trading volumes were thin as many traders were away ahead of the New Year's holiday, boosting volatility. "Many companies are closed between the Christmas and New Year's holidays...

  • RIYADH/ DUBAI, Dec 28- Saudi Arabia, its finances hit by low oil prices, announced plans to shrink a record state budget deficit with spending cuts, reforms to energy subsidies and a drive to raise revenues from taxes and privatisation. The International Monetary Fund warned in October that Riyadh would run out of money within five years if it did not tighten its...

  • Dec 28- Miner Freeport-McMoRan Inc said Chairman and co-founder James R. Moffett would step down from its board.

  • No housing expert has a crystal ball, but Svenja Gudell, recently appointed chief economist for the housing site Zillow.com, has looked at enough data to make a pretty good guess. A: Next year, the combination of unemployment, population growth and the home value growth will make markets like Boise, Idaho, Salt Lake City, Utah, and Omaha, Nebraska, stand out.

  • The headquarters of Valeant Pharmaceuticals International in Laval, Quebec.

    Valeant Pharmaceuticals on Monday said Chairman and CEO J. Michael Pearson will be on medical leave, effective immediately.

  • Dec 28- U.S. stock indexes were set to open lower on the first day of the last trading week of the year as oil prices continued to fall due to oversupply. Exxon's shares were down 1.5 percent at $78.14, while Chevron was down 1.7 percent at $90.47 in premarket trading. "The 3 percent dive in crude oil this morning shows you that the sellers are still in control of the...

  • Dec 28- Valeant Pharmaceuticals International Inc said a group of company executives will take over in an interim capacity, until CEO Michael Pearson returns from medical leave. Valeant's board has created an "office of the Chief Executive Officer", which will include general counsel Robert Chai-Onn, company group chairman Ari Kellen, and chief financial...

  • BEIJING, Dec 28- China will implement a value-added tax across all industries in 2016, the official state news agency Xinhua reported on Monday. Chinese authorities have already implemented value-added taxes on several sectors, part of a wider push to reform the taxation system. A VAT system taxes the difference between the sale price charged to a customer,...

  • MADRID, Dec 28- Spain's Socialist party on Monday ruled out forming a new government with any party that supported a referendum on independence in Catalonia, a stand that prolongs political uncertainty after this month's inconclusive national election. As the four main parties in Spain vie to form a government following the election that left no party with a...