RIO DE JANEIRO— Brazilian President Dilma Rousseff named a former treasury secretary with a reputation as a fiscal conservative as finance minister, her office said Thursday, in a move that's widely seen as charting a new course for Brazil's flagging economy and soothe jittery financial markets. The appointee, Joaquim Levy, is a University of Chicago-trained...» Read More
LONDON, June 4- Brent crude rose above $109 a barrel on Wednesday and U.S. crude jumped by $1 a barrel following a sharper-than-expected drop in U.S. oil inventories. Brent oil for July delivery was up 40 cents at $109.22 a barrel by 1433 GMT, after settling down 1 cent the previous day.
DETROIT, June 4- The head of the Unifor, which represents Canadian auto workers, said on Wednesday the union would strike at Johnson Controls Inc's Whitby, Ontario, plant, which supplies interiors to the General Motors Co Oshawa factory, unless JCI reverses plans to shutter the Whitby plant.
NEW YORK/ WASHINGTON, June 4- A U.S. appeals court on Wednesday said a federal judge abused his discretion by rejecting a $285 million fraud settlement between Citigroup Inc and the U.S. Securities and Exchange Commission over securities sold before the financial crisis.
*Copper cash-to-three backwardation eases to $50/ T. *China traders jittery over financing after Qingdao probe.
BERLIN, June 4- Germany plans to draw up new rules in the coming weeks for the controversial method of fracking for gas, which will impose tight restrictions on the technique that has led to a shale gas boom in the United States. Germany's ruling parties had promised in their coalition agreement last year to set a legal framework for fracking.
MEXICO'S PEMEX SAYS DOES NOT RULE OUT BUYING SHARES IN OTHER COMPANIES IF OPPORTUNITIES ARISE.
*Protective Life jumps, Dai-ichi to buy. *NQ Mobile has biggest gain ever, up 28 pct. NEW YORK, June 4- U.S. stocks were largely flat on Wednesday as mixed reads on the economy gave the market little direction and traders were reluctant to buy with indexes near record levels.
NEW YORK, June 4- Three months after new trading requirements for the $300 trillion U.S. derivatives market were introduced, little of the market is operating as regulators intended, with mandates for most bank trades delayed and investors slow to embrace new trading systems. That may start to change this month.
CRUDE FUTURES BRIEFLY EXTEND GAINS TO MORE THAN $1 AFTER EIA OIL INVENTORY DATA.
MEXICO CITY, June 4- Mexican oil giant Pemex plans to sell its remaining 1.4 percent stake in Spanish peer Repsol in August, two sources at Pemex said on Wednesday. Pemex sold 7.86 percent of Repsol, worth around $3 billion, to unspecified private investors earlier on Wednesday.
OTTAWA, June 4- The Bank of Canada kept its main interest rate on hold at 1 percent on Wednesday, as expected, and said the risks of low inflation loom as large as ever, though prices have been rising faster than it had anticipated.
NEW YORK, June 4- The U.S. dollar got a lift on Wednesday from rising Treasury rates and touched a monthly high against the yen before losing some steam on weaker-than-expected U.S. private-sector jobs numbers. The dollar last stood at 102.57 yen after trading as high as 102.79 yen, near a level last touched on May 5.
NEW YORK, June 4- A U.S. appeals court on Wednesday said a federal judge abused his discretion by rejecting a $285 million fraud settlement between Citigroup Inc and the U.S. Securities and Exchange Commission. District Judge Jed Rakoff was wrong to require the SEC to establish the "truth" of its allegations as a condition of approving the settlement.
MEXICO'S PEMEX SAYS PLANS TO SELL REMAINING STAKE IN REPSOL IN AUGUST- SOURCES.
US TREASURIES YIELDS RISE AFTER ISM DATA, 10- YEAR NOTE YIELDS INCREASE TO 2.60 PERCENT.
June 4- Clean energy company NRG Yield Inc said it would buy California's Alta Wind Energy Center, the largest wind farm in North America, for $870 million from Terra-Gen Power LLC. The deal will add 947 megawatt to the wind portfolio of NRG Yield and parent NRG Energy Inc, making it the fifth largest in the continent at 2,839 MW.
MEXICO CITY, June 4- Mexican oil giant Pemex decided to sell nearly all of its stake in Spanish peer Repsol due to disagreements over the management of the company and low returns on its investment, Pemex said on Wednesday.
NEW YORK, June 4- The U.S. services sector expanded in May at its fastest rate since March 2012, an industry report showed on Wednesday, though the pace was revised down from a preliminary read on the month. While the index was slightly under the preliminary May reading of 58.6, it was the highest since March 2012.
MEXICO'S PEMEX SAYS DECISION TO SELL REPSOL STAKE WAS DUE TO LOW PROFITABILITY OF INVESTMENT AND DIFERENCES OVER MANAGEMENT.
MEXICO'S PEMEX SAYS SALE OF ITS STAKE IN REPSOL WILL PERMIT BETTER ALLOCATION OF RESOURCES IN PROJECTS AND INVESTMENTS.