NEW YORK, Dec 22- Victims of Bernard Madoff's massive Ponzi scheme will get a fresh $322 million payout if a U.S. judge approves the request by the trustee liquidating the convicted fraudster's firm, bringing the recovery total to more than $7 billion. The trustee, Irving Picard, said on Monday he would seek permission from a U.S. bankruptcy judge in New York to begin...» Read More
PUBLIC DEBT IN FISCAL 2039 AT 106 PCT OF GDP VS 102 PCT IN SEPT 2013 ESTIMATE, 74 PCT IN FISCAL 2014.
YELLEN SAYS PRICES FOR REAL ESTATE, EQUITIES AND CORPORATE BONDS HAVE RISEN APPRECIABLY BUT REMAIN GENERALLY IN LINE WITH HISTORICAL NORMS.
USE OF FED FUNDS TO CONTROL INTEREST RATES "WILL NOT BE FEASIBLE" DURING POLICY NORMALIZATION- FED MONETARY POLICY REPORT.
FED'S BALANCE SHEET TO HIT $4.5 TRILLION WHEN BOND-BUYING LIKELY ENDS IN OCTOBER- FED MONETARY POLICY REPORT.
FED'S YELLEN SAYS ECONOMY CONTINUING TO IMPROVE BUT RECOVERY NOT YET COMPLETE.
YELLEN SAYS FOMC BELIEVES HIGH DEGREE OF MONETARY POLICY ACCOMODATION REMAINS APPROPRIATE.
But the latest impasse reflects the difficulties that Brazil, Russia, India, China and South Africa face in working together to counter Western-run multilaterals that have shaped world finances since the end of World War Two. Negotiations have stalled for now on a dispute between China and India over who will host the bank.
WASHINGTON, July 15- The U.S. Strategic Petroleum Reserve is dogged by capacity and maintenance issues that limit officials' ability to replenish it, the Energy Department's inspector general said in a report released on Tuesday.
Sheng Songcheng, the head of the statistics department at the central bank, was also quoted by the Chinese financial news service Great Wisdom as saying that banks have increased lending to China's cooling property market this year in a show of "forceful" support.
*Fed chief to testify to Congress on Tuesday, Wednesday. NEW YORK, July 15- The dollar got a lift on Tuesday from retail data showing the U.S. economy expanding but gains were muted as investors awaited possibly market-moving congressional testimony by Federal Reserve chief Janet Yellen.
But while money flowed across the table between manufacturers and leasing companies, AirAsia low-cost airline entrepreneur Tony Fernandes waited in the wings with what could be a $12 billion order for some 50 of Airbus's revamped A330neo. Airbus and AirAsia declined comment.
Libya's oil output has risen to 588,000 barrels per day, Libya's acting oil minister told Reuters, an increase of around 25 percent since the weekend despite renewed fighting between militias in the country's capital.
NEW YORK, July 15- U.S. stocks opened higher on Tuesday, boosted after earnings from JPMorgan and Goldman Sachs, though investors were looking ahead to testimony from U.S. Federal Reserve Chair Janet Yellen. Shares of Goldman rose 1.5 percent to $169.67 while JPMorgan rose 3.8 percent to $58.41.
NEW YORK, July 15- U.S. Yellen speaks before the Senate Banking Committee at 1000 EDT and again to the House Financial Services Committee on Wednesday as part of its semiannual monetary policy report.
MAINTENANCE ISSUES HAVE HINDERED SPR REPLENISHMENT- ENERGY DEPARTMENT INSPECTOR GENERAL REPORT.
ENERGY DEPARTMENT SAYS CANNOT FULLY REPLENISH THE 35 MLN BBL STRATEGIC PETROLEUM RESERVE STOCKS SOLD SINCE 2011.
RIO DE JANEIRO, July 15- Brazil's sluggish economy faces substantial risk of falling into a light recession in 2014, and may already have done so, providing opposition candidates with extra ammunition in the run-up to October's presidential election.
*New York state manufacturing at more than four-year high. WASHINGTON, July 15- A gauge of U.S. consumer spending rose solidly in June, in the latest sign that the economy ended the second quarter on a firmer footing.
*BoE says UK banks have "dreadful record" of mis-selling. LONDON, July 15- The Bank of England said on Tuesday that British banks had a "dreadful record" on mis-selling complex interest rate hedging products to small businesses and warned that it would keep a close eye on them.
*Report backs reform of existing ECB and 4 p.m. London fixes. At the center of the investigations is activity around the 4 p.m. currency fix in London, a 60- second window where key exchange rates are set. The Financial Stability Board, based in Basel in Switzerland, said it had no access to any evidence or knowledge of any details of the investigations.