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  • SAN JUAN/ NEW YORK, Dec. 1- Puerto Rico faces a moment of truth on Tuesday, as the island owes a $355 million payment- a possible default which could trigger lawsuits, further spook investors and undermine the island's efforts to climb out of $72 billion in debt. The payment on bonds issued by the U.S. commonwealth's financing arm, the Government Development Bank, are...

  • Dec 1- Canadian Oil Sands Ltd set a capital expenditure target of C $295 million for 2016, down about 35 percent from the estimated budget for 2015, saying the Syncrude oil sands project would help raise output at lower costs. "Syncrude's ability to reduce costs and respond to the lower oil price environment is exceeding market expectations," Canadian Oil Sands...

  • LONDON, Dec 1- British banks including HSBC and Lloyds have almost completed the job of building up their defences against a future financial crisis, Bank of England Governor Mark Carney said on Tuesday as he set out details of new capital requirements. "With today's announcement, the basic amount of capital our system requires is settled," he said, setting out...

  • Dec 1- Mondelez International Inc, the owner of the Cadbury chocolate brand, has hired bankers to explore a sale of a number of confectionery products and assets in United Kingdom, France, Spain and the Netherlands, Sky News reported. The portfolio for sale includes the Terry's Chocolate Orange and Terry's All Gold brands, Sky News reported, citing people familiar...

  • *FTSE standout gainer, U.S. stocks set to open higher. LONDON, Dec 1- European stock markets stuttered and the euro clawed back some ground against the U.S. dollar on Tuesday as investors had second thoughts about sky-high expectations of European Central Bank easing this week. Britain's FTSE 100 was one of only a couple of the region's bourses to show gains after...

  • LONDON, Dec 1- Copper firmed on Tuesday on news of more output cuts in top metal user China, but gains were capped by data showing China's factory activity slowed in November, underlining the headwinds facing demand. Ten major copper smelters in China, which consumes nearly half the world's copper, said they would cut output by 350,000 tonnes next year, and also...

  • BERLIN, Dec 1- Germany's auto market will shake off Volkswagen's diesel emissions scandal to grow 4 percent this year and will expand slightly further in 2016, the VDA industry association said on Tuesday. New car registrations in Europe's biggest auto market are expected to increase this year to 3.17 million and to around 3.2 million in 2016 if market...

  • BRASILIA/ SAO PAULO, Dec 1- Brazil's economy shrank 1.7 percent in the third quarter, deepening its worst recession in 25 years and starving President Dilma Rousseff's government of taxes as she struggles with a growing fiscal deficit and a vast corruption scandal. On an annual basis, Brazil's gross domestic product dropped 4.5 percent in the third quarter, the...

  • An FDA spokeswoman declined comment, but said the agency would respond directly to Kind once a petition is filed. Under current rules laid down by the FDA, foods labeled as healthy must contain less than 3 grams of total fat and less than 1 gram of saturated fat per serving. Kind, known for its nut-based bars wrapped in clear packaging, received a warning letter in...

  • *IMF's Lagarde, China central bank say reforms to continue. HONG KONG, Dec 1- The International Monetary Fund's decision to add China's yuan to its reserves basket is a triumph for Beijing, but the fund's verdict that the currency met its "freely usable" test will have little financial impact unless Beijing recruits more users. But to serve these purposes, there...

  • HONG KONG, Dec 1- A surge in Chinese cross-border technology and telecoms deals has helped mergers and acquisitions in Asia Pacific cross $1 trillion for the first time but mainland banks are missing out on the payoffs as they badly trail global rivals in advisory work. While low fees have helped Chinese banks to win market share from U.S. and European...

  • *Gold posts biggest monthly drop in 2-1/ 2 years in Nov. LONDON, Dec 1- Gold rose for a second day on Tuesday, rebounding from last week's 5-1/ 2 year low, as a retreat in the dollar prompted investors to cover short positions ahead of a European Central Bank meeting and U.S. payrolls data this week. Gold posted its biggest monthly drop in 2-1/ 2 years in November, falling 7...

  • *OPEC meets Friday in Vienna, expected to keep output high. LONDON, Dec 1- Crude oil prices rose on Tuesday as the dollar eased slightly, but with OPEC widely expected to stick to its output target this week, concern about oversupply remained in focus. The European Central Bank is set to announce its latest policy decision on Thursday, OPEC's decision on output is due...

  • BEIJING, Dec 1- China's central bank said on Tuesday it had extended 100.3 billion yuan of loans to 11 financial institutions under a medium-term lending facility in November. The total outstanding amount of such lending facility loans was 695.8 billion yuan at end-November, the central bank said. The central bank also conducted overnight standing lending...

  • BEIJING, Dec 1- China's central bank said it disbursed 51.75 billion yuan worth of pledged supplementary loans, with an interest rate of 2.75 percent, to banks in November. The central bank said in a statement on its website that there were 1.08 trillion yuan worth of PSL in the banking system at the end of November. The latest PSL exercise was aimed at supporting...

  • *Security risks in focus after Paris attacks. BERLIN, Dec 1- Germany's unemployment rate fell to 6.3 percent in November, the lowest level since reunification in 1990, reinforcing expectations that private consumption will continue to support growth in Europe's largest economy. Germans have been particularly worried about possible attacks on Christmas...

  • LONDON, Dec 1- Hints that a slowdown in China's economy may be levelling out pushed stock markets up on Tuesday, while euro bears and bond investors had second thoughts about sky-high expectations of European Central Bank easing later this week. China's official Purchasing Managers' Index reached a three-year low in November. Analysts say it would be hard for...

  • DUBAI/ LONDON, Dec 1- The government of Qatar has invited banks to provide it with a $5.5 billion loan, sources aware of the matter said on Tuesday, as Doha became the latest Gulf government to seek funds with its finances pressured by low energy prices. The five-year loan is smaller than the amount of up to $10 billion which bankers said last month that the government...

  • LONDON, Dec 1- The dollar fell from an 8-1/ 2- month high on Tuesday as traders bought back the euro, reckoning a significant amount of further monetary easing had already been priced into the single currency ahead of Thursday's European Central Bank meeting. Antipodean currencies were the biggest gainers from the dollar's weakness in developed markets, with...

  • *UK banks gain after stress test results. LONDON, Dec 1- European shares edged higher on Tuesday, with UK- listed banks gaining after none failed the latest Bank of England "stress tests" on the sector. Standard Chartered, Lloyds Group, Royal Bank of Scotland, HSBC and Barclays rose 1.4 to 2.7 percent, helping the European banking index gain more than 1 percent, after the...