Wires

  • LONDON, Dec 6- Oil trading house Gunvor has given shares allocated to managers and traders a nominal value of nearly $900 million, filings seen by Reuters show, as co-founder Torbjorn Tornqvist diluted his stake in a bid to expand the firm and recruit and retain talent. It has since diversified away from Russia and changed its ownership structure to resemble...

  • *Q4 EPS C $2.10 vs forecast C $1.85. TORONTO, Dec 6- Bank of Montreal on Tuesday reported fourth-quarter earnings well ahead of market expectations, benefiting from strong performances at its capital markets and U.S. personal and commercial businesses. Canada's fourth-biggest lender said its earnings per share, excluding one-off items, rose to C $2.10 in the...

  • OSLO, Dec 6- Norwegian media group Schibsted plans to add 200 people to its 1,800- strong technology team in the next year to further develop its online classified ads business and fend off competition from Facebook, its chief executive says. Schibsted holds market-leading positions in local classified advertising websites across Europe including Finn in...

  • NEW YORK— Vice President-elect Mike Pence is delivering a speech to a conservative group at Donald Trump's new hotel in Washington D.C.. The Heritage Foundation says Pence will talk Tuesday night about areas of focus for the Trump administration in the first 200 days. The Washington think tank says he will also talk about the conservative movement.

  • WASHINGTON, Dec 6- China's efforts to shore up its currency by placing restrictions on foreign acquisitions could benefit aviation and shipping giant HNA Group Co Ltd by reducing competition for deals from other Chinese bidders, one of its top executives said. Guang Yang, chief investment officer of HNA Capital- a unit of the fast-growing HNA Group that has been...

  • The justices, in an 8-0 decision, upheld the 2013 conviction of Bassam Salman, a Chicago man who made nearly $1.2 million trading on non-public information that came from his brother-in-law at Citigroup Inc. It was the court's first ruling in an insider trading case in two decades. The ruling was a major victory for securities regulators and prosecutors, who for...

  • EURO EXTENDS LOSSES AGAINST US DOLLAR TO SESSION LOW OF $1.0703, DOWN 0.56 PERCENT ON THE DAY.

  • Dec 6- Wells Fargo& Co will see a near term profit hit because of the sharp rise in interest rates, Chief Executive Officer Tim Sloan said on Tuesday. Wells Fargo shares are up some 23 percent over the same period. While Sloan did not specify the size of the hedging losses, he pointed for comparison to a $379 million first quarter hedging gain because of interest rates...

  • WASHINGTON, Dec 6- The Supreme Court on Tuesday handed a victory to two whistleblower sisters by upholding a jury verdict that found State Farm defrauded the U.S. government when the insurance company assessed damage caused by Hurricane Katrina along the Gulf of Mexico coast in 2005.. The court ruled 8-0 to reject State Farm's challenge to a 2015 lower court...

  • BERLIN— Just a few months ago, German Chancellor Angela Merkel brought together the leaders of the U.S., Britain, France and Italy to discuss the world's crises, a moment captured in a photo of the five seated around a conference table. Many people "feel that the world is in disarray, and they're right," Merkel told a congress of her Christian Democratic Union in Essen.

  • NEW YORK, Dec 6- The U.S. Treasury Department on Tuesday sold $45 billion of one-month bills with the fewest bids for this maturity at an auction since August, Treasury data showed. The ratio of bids to the amount offered was 3.23, the lowest since 3.17 at a one-month T-bill auction held on Aug. 23. The Treasury sold the latest one-month bill issue at an interest rate of...

  • CHICAGO, Dec 6- U.S. soybean futures rallied on Tuesday, with another round of export deals with China as well as concerns about dry weather in Argentina pushing prices higher, traders said. At 10:33 a.m. CST, Chicago Board of Trade January soybean futures were up 14 cents at $10.57-1/ 2 a bushel. The U.S. Agriculture Department on Tuesday morning said that private...

  • WASHINGTON, Dec 6- Former U.S. Attorney Debra Wong Yang is a top contender to head the U.S. Securities and Exchange Commission under Republican President-elect Donald Trump, CNBC said on Tuesday. Yang, who was appointed by fellow Republican former President George W. Bush for California's Central District, was scheduled to meet with Trump on Monday in New York.

  • LONDON, Dec 6- Oil trading house Gunvor has given shares allocated to managers and traders a nominal value of nearly $900 million, filings seen by Reuters show, as co-founder Torbjorn Tornqvist diluted his stake in a bid to expand the firm and recruit and retain talent. It has since diversified away from Russia and changed its ownership structure to resemble...

  • BRUSSELS, Dec 6- Plans to overhaul European Union rules on bank capital were strongly criticized by several EU finance ministers on Tuesday, increasing uncertainty over financial regulation. Ministers from Eastern European countries and smaller EU states, such as Luxembourg, rejected a Commission proposal to allow EU banks to hold capital only in their home...

  • District Judge Cecilia Altonaga said the SEC has already made an example of former budget director Michael Boudreaux in its first municipal securities fraud case to go to trial. Though a jury found Boudreaux acted with severe recklessness, he did not gain financially from his conduct, Altonaga said, adding that the fine the SEC was seeking appeared "...

  • NEW YORK, Dec 6- Oil futures snapped a four-day rally on Tuesday on signs of higher output while the euro slipped from a three-week high ahead of a meeting of the European Central Bank on Thursday. Wall Street showed slim gains as energy stocks weighed while European stocks were on track for a second day of gains helped by strong German data, and U.S.

  • Dec 6- U.S. stocks were little changed on Tuesday, as gains in telecom services were offset by losses in energy stocks following a drop in oil prices. Brent crude prices fell over 2 percent, the first decline in five days, after data showed an increase in output from major producers, just days after OPEC and Russia agreed to a production cut. U.S. stocks have climbed...

  • *Southern European bond yields tumble. LONDON, Dec 6- Borrowing costs in southern Europe fell on Tuesday with Italian yields briefly hitting three-week lows as focus turned from an Italian referendum to expectations the ECB would contain any financial-market fallout when it meets later this week. Italian 10- year bond yields fell as much as 14 basis points to...

  • DUBAI, Dec 6- Boeing sees sales of its business jets rebounding over the next two years after a "tough" 2016, Boeing Business Jet President David Longridge said at a press conference in Dubai on Tuesday. Boeing Business Jets, which sells variants of Boeing aircraft for the corporate jet market, blames a more than halving of sales this year on the uncertainty created...