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Wires

  • Dec 15- A relentless bull-run in U.S. stock indexes this year has set the stage for a strong IPO market in 2018, with several multi-billion dollar firms including Airbnb and Spotify widely expected to grab headlines with their offerings. "With the market at all-time highs valuations are at the high-end, presenting a favorable backdrop for IPOs," said Nelson...

  • *Tempting yields often hide sting in the tail. LONDON, Dec 18- For years, the Brazilian mining conglomerate Vale was a darling of emerging market investors, who were happy to ignore the company's poor record on environmental and social issues because of the high yields its bonds paid. But warnings about the company's policies were horribly vindicated in 2015,...

  • LONDON, Dec 18- Hedge fund managers have boosted their bullish positions in Brent futures and options in response to the shutdown of the Forties oil pipeline, according to an analysis of regulatory and exchange data. But bullishness in Brent cannot completely conceal the increasing staleness of long positions in the rest of the rest of the petroleum complex, as...

  • MILAN, Dec 18- The veteran bureaucrat responsible for Italy's debt mountain, senior treasury official Maria Cannata, plans to retire in February after 17 years in the job, to be replaced by her long-time deputy, sources said on Monday. Italy has around 2.3 trillion euros in public debt, or 132 percent of gross domestic product, the heaviest debt burden of any of the...

  • Dec 18- U.S. stock index futures were higher on Monday, set to push Wall Street to new records, buoyed as the long-awaited tax overhaul plan looked set for legislation and by a flurry of year-end dealmaking topping $10 billion so far. Republicans said on Sunday they expected Congress to pass the tax bill this week, with a Senate vote set for as early as Tuesday and...

  • OSLO, Dec 18- A transaction between Statoil and Petrobras that could be worth up to $2.9 billion will likely be scrutinised by Brazil's Federal Court of Accounts, the CEO of Petrobras said on Monday. "It may be delayed a bit, but it will not stop the process," Pedro Parente told reporters. The transaction will take effect from Jan. 1 and is subject to approval in Brazil.

  • The health insurer also forecast interest expenses of $69 million- $72 million, compared with its full-year 2017 forecast of $68 million- $70 million. Revenue is expected to increase to $18.65 billion, primarily due to organic growth in WellCare Health's Medicaid and Medicare health plans units and acquisition of Universal American Corp. Analysts' were...

  • MOSCOW, Dec 18- Russia will not issue Eurobonds before February, when the United States is set to decide on new sanctions against Moscow, Finance Minister Anton Siluanov told reporters on Monday. Russia plans to raise up to $3 billion in new issues and up to $4 billion to replace existing debt in 2018.. Russia has raised about $4 billion in a top-up of its 2027...

  • BUCHAREST, Romania— Hundreds of Romanian judges and prosecutors have staged protests around the country over planned modifications to the legal system they say will hamper prosecutions. The Monday demonstrations were held outside courts in cities including the capital Bucharest, Cluj, Galati, Brasov and Constanta. President Klaus Iohannis, a critic of the...

  • Dec 18- CSX Corp's shares slipped more than 5 percent on Monday on news of Chief Executive Hunter Harrison's death, leaving investors worried about the No.3 U.S. railroad's turnaround plan under acting CEO Jim Foote. "CSX must press forward in executing Hunter's turnaround plan under acting CEO Jim Foote, despite his less than two-month tenure," Susquehanna...

  • *House-Senate Republicans put finishing touches on tax bill. LONDON, Dec 18- The dollar dipped against a basket of major currencies on Monday amid doubt whether a proposed U.S. tax reform programme would have a major impact on economic growth, after the bill moved another step closer to ratification over the weekend. "The market doesn't expect the legislation to...

  • BRUSSELS, Dec 18- EU state aid regulators will investigate whether Swedish furniture retailer Ikea's tax arrangement with the Netherlands helped cut its tax bill- the latest crackdown on unfair tax deals between multinationals and EU countries. The European Commission said on Monday it was looking into two tax rulings issued to Inter Ikea, which operates...

  • *North Sea pipeline outage underpins prices. LONDON, Dec 18- Oil price edged higher on Monday, supported by a North Sea pipeline outage and a Nigerian oil worker strike. were at $63.37 a barrel at 1203 GMT, up 14 cents from their last close.

  • Dec 18- WellCare Health Plans Inc on Monday forecast its full-year 2018 adjusted profit and revenue below analysts' estimates. The company said it expects full-year 2018 adjusted earnings of $8.40- $8.65 per share, missing analysts' average estimate of $8.67 per share, according to Thomson Reuters I/B/E/S. WellCare Health expects revenue of $18.65 billion for...

  • CALGARY, Alberta/ NEW YORK, Dec 18- Canadian oil producers are running out of options to get crude to market as pipeline and rail capacity fills up, driving prices to four-year lows and increasing the risk of firms having to sell cheaply until at least late 2019.. A number of foreign oil majors have left Canada's oil sands to invest in more profitable U.S. shale plays,...

  • NEW YORK, Dec 18- Financial advisers and accountants are working overtime as many U.S. taxpayers scramble to pay the rest of their 2017 taxes before Jan. 1 when the proposed Republican tax overhaul would sharply cut the amount they can deduct on federal tax bills. Republicans said on Sunday they expected Congress to pass this week, caps the amount of state, local and...

  • Dec 18- California homeowners and regulators have a new fear about wildfires ravaging the state: that insurers will drop coverage. Massive, out-of-season fires in northern and southern California are causing billions of dollars in claims and challenging expectations of when and where to expect blazes. The insurer still issues policies in California and its...

  • Dec 18- U.S. private equity firm Warburg Pincus said on Monday it has raised $2.3 billion for a new financial services fund, ahead of its target of $1.6 billion. Warburg Pincus Financial Sector, L.P., a companion fund to its $13.4 billion Warburg Pincus XII, L.P, was launched in June. "This new fund, in conjunction with our main, global fund, will enable us to invest behind...

  • Some companies— above all in Germany and Asia— seem to think so. A conspicuous number of big German corporate names— along with a handful in Japan and Korea— have their own company-linked symphony orchestra. Other companies with employee orchestras include engineering firm Siemens, maker of trains and medical scanners; carmakers Daimler, BMW and Ford; auto...

  • Ho CHI MINH CITY/ SINGAPORE, Dec 18- Thai Beverage has won an auction to buy a majority stake worth $4.84 billion in Vietnam's top brewer Sabeco, a lofty deal that adds a major asset to the beer-to-property empire of Thai magnate Charoen Sirivadhanabhakdi. The deal is a big step for Charoen, the son of a Bangkok street vendor, who is emerging as one of Asia's biggest...