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  • Hilton Worldwide in talks to buy four hotels - Bloomberg Wednesday, 10 Dec 2014 | 4:25 PM ET

    Dec 10- Hilton Worldwide Holdings Inc is in talks to buy four properties from Blackstone Group LP and others for deferring tax payments from the sale of its Waldorf Astoria hotel in New York, Bloomberg reported. The company is planning to buy San Francisco's Parc 55 Wyndham, two Waldorf Astoria resorts in Key West and one in Orlando, Florida, the report said, citing...

  • NEW YORK, Dec 10- A former computer programmer for Bernard Madoff was sentenced to 2-1/ 2 years in prison on Wednesday for helping the imprisoned fraudster carry out his multibillion dollar Ponzi scheme. The sentencing of George Perez, who worked at Madoff's firm from 1991 until its collapse in 2008, came nine months after a Manhattan federal jury found him...

  • NEW YORK, Dec 10- U.S. stocks dropped more than 1 percent on Wednesday as the energy sector resumed its recent slide along with crude oil prices and added to global growth worries. The Dow Jones industrial average fell 268.05 points, or 1.51 percent, to 17,533.15, the S&P 500 lost 33.66 points, or 1.63 percent, to 2,026.16 and the Nasdaq Composite dropped 82.44 points,...

  • Tyco to buy Industrial Safety Technologies for $329.5 mln Wednesday, 10 Dec 2014 | 4:07 PM ET

    Dec 10- Safety and security product maker Tyco International Ltd said it would buy Industrial Safety Technologies, which makes gas and flame detection gear, from Battery Ventures for $329.5 million. Tyco shares were down 2 percent at $42.47 on the New York Stock Exchange in afternoon trading. Tyco expects IST, comprising five companies, to add $140 million to its...

  • Japan bears bet on Abe victory followed by yen disaster Wednesday, 10 Dec 2014 | 4:00 PM ET

    TOKYO, Dec 11- An election sweep for Japanese Prime Minister Shinzo Abe this weekend looks like a safe bet, but some are betting that the consequences for Japan could be calamitous- a collapse in the yen and uncontrolled inflation. The continuation of' Abenomics', a program of money printing and debt-funded spending to lift Japan from two decades of deflation and...

  • SHANGHAI, Dec 11- Sony Corp should fear China's censors almost as much as rival Microsoft Corp as it prepares to unveil the price and release date of its PlayStation 4 gaming console in the world's third-largest gaming market. The announcement, due to be made in Shanghai around 0900 GMT on Thursday, comes hot on the heels of the launch of Microsoft's Xbox console in...

  • Dec 10- Intercontinental Exchange Inc has no immediate plans to sell the New York Stock Exchange, which it expects to become more profitable as a result of extensive ongoing restructuring, ICE Chief Executive Officer Jeffrey Sprecher said on Wednesday. The NYSE, which exchange and clearing house operator ICE bought for $11 billion in November 2013 in order to...

  • Gilead sued over 'exorbitant' hepatitis C drug prices Wednesday, 10 Dec 2014 | 3:55 PM ET

    Dec 10- Philadelphia's transportation authority has filed a class action lawsuit accusing Gilead Sciences Inc of charging "exorbitant" prices for its blockbuster hepatitis C drug Sovaldi. The lawsuit, filed Tuesday in federal court in Philadelphia by the Southeastern Pennsylvania Transportation Authority, seeks an unspecified amount of money damages.

  • WELLINGTON, Dec 11- New Zealand's central bank held its benchmark rate at a near-six year high on Thursday, and signaled the need for further modest rate rises over time in a less dovish policy tone that propelled the local dollar higher. The Reserve Bank of New Zealand kept its official cash rate at 3.50 percent, as expected, for a third consecutive review.

  • UPDATE 1-Wal-Mart Stores names Judith McKenna as U.S. COO Wednesday, 10 Dec 2014 | 3:51 PM ET

    Dec 10- Wal-Mart Stores Inc named Judith McKenna chief operating officer of Walmart U.S. as the company looks to boost small format stores and ecommerce growth. Chief Executive Greg Foran, the company said. McKenna, who has worked with Walmart for nearly 20 years, succeeds Gisel Ruiz, who has been appointed executive vice president at the company's international...

  • By Marcy Nicholson and Clara Denina. NEW YORK/ LONDON, Dec 10- Gold dropped a shade on pressure from tumbling oil prices on Wednesday, after nudging up to a seven-week high as equity markets surrendered earlier gains to turn lower and the dollar extended losses versus a basket of currencies. "The weak oil prices sapped some of the strength out of the gold market," said...

  • WELLINGTON, Dec 11- New Zealand's central bank held its benchmark rate at a near-six year high on Thursday, and signaled the need for further modest rate rises over time in a less dovish policy tone that propelled the local dollar higher. The Reserve Bank of New Zealand held its official cash rate at 3.50 percent on Thursday, as expected, for a third consecutive...

  • RBNZ says sees risk of lower neutral interest rate Wednesday, 10 Dec 2014 | 3:32 PM ET

    WELLINGTON, Dec 11- New Zealand's central bank on Thursday stuck to its forecast for neutral interest rates, but said there was a risk that it may be lower than the current forecast, its governor said on Thursday. "We think is probably somewhere around 4.5 percent, but there is some uncertainty around that, it may be below 4.5 percent," Reserve Bank of New Zealand...

  • Dec 10- The new proposed buyer for the shuttered Revel Casino Hotel said Wednesday that he will not give up his legal challenge to the auction of the Atlantic City, New Jersey, complex even though the winning bidder walked away from the deal. Revel filed papers overnight seeking approval to terminate its deal with Brookfield Property Partners LP and schedule a...

  • FOREX-U.S. dollar slide persists for third day Wednesday, 10 Dec 2014 | 3:26 PM ET

    *Political uncertainty in Greece weighs on markets. NEW YORK, Dec 10- The U.S. dollar fell against the yen for a third straight session on Wednesday as risk appetite diminished amid worries about Greece and the outlook for China, the world's second-largest economy. "Swelling risk appetite, embodied by a relentless push upward in the S&P 500, and a firming U.S. dollar...

  • Dec 10- Wal-Mart Stores Inc named company veteran Judith McKenna, chief operating officer of Walmart U.S. as the company looks to grow small format stores. Mckenna, who has worked with Wal-Mart for nearly 20 years, succeeds Gisel Ruiz who has been appointed executive vice president at the company's international people division. The appointment was effective...

  • Echoes of '90s crises reverberate across emerging markets Wednesday, 10 Dec 2014 | 3:00 PM ET

    *10- yrs of gains in emerging FX: http://link.reuters.com/ben53w. LONDON, Dec 10- Of course this time it's different, it always is. Russia's rouble had its steepest decline last month since the devaluation and default of 1998. Malaysia's ringgit recorded its biggest two-day fall this month since its version of the crisis the same year, after which it was fixed for...

  • Dec 10- The change atop United Technologies Corp has set off speculation the U.S. conglomerate may eventually shake up its diverse industrial businesses, including possibly divesting its Sikorsky helicopter unit. Shares of United Technologies have climbed 4 percent since the company announced on Nov. 24 that Chief Financial Officer Greg Hayes replaced...

  • At the same event, Venezuela's foreign minister and top OPEC emissary Raphael Ramirez provided his country's answer to Naimi's question: OPEC must act, he told Reuters, because "that is our job. Ramirez said Venezuela would evaluate whether to call for an emergency OPEC meeting after seeing how oil prices perform in the first quarter. Last month, Gulf producers...

  • NEW YORK, Dec 10- U.S. stocks extended their declines on Wednesday afternoon, with all three major indexes down more than 1 percent each as the energy sector resumed its recent slide along with oil prices. Selling picked up in early afternoon, with declining issues outnumbering advancing ones on the NYSE by 2,450 to 613, for a 4.00- to-1 ratio.