Wires

  • 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...

  • RIO DE JANEIRO, Dec 6- When Michel Temer took over Brazil's presidency in May, many hoped he could overcome the political gridlock, corruption scandals and economic obstacles that have hobbled Latin America's biggest country. Instead of hope and change, after 13 years of increasingly feckless government by the leftist Workers Party, even those who enabled...

  • COPENHAGEN, Dec 6- Danish toymaker Lego is to appoint its first foreign CEO and give its family owners a bigger role in developing the Lego brand under an organizational shake-up that will see incumbent Jorgen Vig Knudstorp step down by the end of the year. Briton Bali Padda, currently chief operations officer, will replace Knudstorp, who was the first chief...

  • COPENHAGEN, Dec 6- Danish toymaker Lego is to appoint its first foreign CEO and give its family owners a bigger role in developing the Lego brand under an organisational shake-up that will see incumbent Jorgen Vig Knudstorp step down by the end of the year. Briton Bali Padda, currently chief operations officer, will replace Knudstorp, who was the first chief...

  • BEIJING/ GUATEMALA CITY, Dec 6- China called on U.S. officials on Tuesday not to let Taiwanese President Tsai Ing- wen pass through the United States en route to Guatemala next month, days after President-elect Donald Trump irked Beijing by speaking to Tsai in a break with decades of precedent. China is deeply suspicious of Tsai, whom it thinks wants to push for the...

  • It will pit one group of researchers associated with the Broad Institute, affiliated with the Massachusetts Institute of Technology and Harvard University, against another group linked to the University of California at Berkeley and the University of Vienna in Austria. The latter team, led by Berkeley's Jennifer Doudna and Vienna's Emmanuelle...

  • ATHENS, Dec 6- Greece welcomed the euro zone's offer of short-term debt relief on Tuesday but urged Germany and the International Monetary Fund to abandon their demands for harsher austerity once its bailout programme expires in 2018.. It wants to wrap up the latest review to qualify for inclusion in the European Central Bank's quantitative easing programme...

  • LONDON, Dec 6- Copper fell on Tuesday as investors cashed in after the previous session's rally, on concerns that the surge in base metals prices over the last month had left markets overstretched. Three-month copper on the London Metal Exchange was down 0.7 percent at $5,908.50 by 1545 GMT. The metal rose 23 percent last month to reach its highest since June 2015...