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Wires

  • ZURICH/ NEW YORK, Dec 11- Financial companies led by Swiss bank UBS are testing a blockchain platform to help them comply with new European Union trade data standards due to come into force next year. "The project is getting market participants to collaborate using blockchain to improve regulatory reporting," Peter Stephens, head of blockchain at UBS, told Reuters.

  • Dec 11- Activist investor Elliott Management Corp said on Monday NXP Semiconductors NV is worth about 23 percent more than Qualcomm Inc's $38- billion offer to buy the chipmaker. Elliott, which has a stake of about 6 percent in NXP, said NXP was worth $135 per share on an intrinsic standalone basis, compared with Qualcomm's offer of $110 made in October 2016.

  • MILAN, Dec 11- Index provider FTSE Russell said on Monday it had selected 22 groups listed on the Milan bourse to create a new index, aimed at investors betting on performance of Italy's top-tier brands. The so-called FTSE Italia Brands will include carmakers Fiat Chrysler and Ferrari, eyewear specialist Luxottica Group, food and beverage groups Autogrill and...

  • PARIS, Dec 11- Airbus is exploring plans to cut A380 superjumbo production to as low as six aircraft per year as it battles to make the world's largest airliner commercially viable beyond the end of the decade, industry sources said. Squeezed by smaller but efficient twin-engined jets, Airbus has announced plans to lower A380 output to 12 aircraft in 2018 and...

  • BRENT CRUDE FUTURES RISE BY $1 A BARREL TO SESSION HIGH OF $64.47/BBL.

  • Oh, the injustice of it all. Who among us hasn't felt abused as a consumer? We get billed for stuff we didn't receive, or that doesn't work, or that didn't live up to its hype.

  • *New York explosion nudges down dollar, lifts yen, Swiss franc World stocks still flirting with record levels. LONDON, Dec 11- An explosion in central New York pushed the dollar lower on Monday, but stock markets recovered after an early dip, once it became clear the situation had been contained. New York police said the explosion rocked the Port Authority Bus...

  • BRUSSELS— The European Union's top five economies are warning the United States that its massive tax overhaul could contravene some of its international obligations and risks "having a major distortive impact on international trade." Secretary of the Treasury Steven Mnuchin, the finance ministers of Germany, France, Britain, Italy and Spain wrote they had "...

  • NEW YORK/ SYDNEY/ LONDON, Dec 11- Newly launched bitcoin futures indicated on Monday that financial markets expect the cryptocurrency to climb further but at a far slower rate than in recent weeks as warnings of a bubble grew. The one-month bitcoin contract opened at 6 pm local time on Sunday at $15,460, dipped briefly before rising to a high of $18,700 and then...

  • REX Shares LLC and Van Eck Associates Corp are both proposing bitcoin funds that would use futures to gain access to the market instead of investing directly in them. The U.S. Securities and Exchange Commission has denied or tabled all bitcoin ETF proposals received so far, but proponents think a successful debut of futures could revive the concept.

  • Dec 11- SandRidge Energy Inc on Monday pushed back against activist investors Carl Icahn and Fir Tree Partners' attack on the oil and gas producer's proposed $746 million acquisition of rival Bonanza Creek Energy Inc.. Fir Tree, which holds about 8.3 percent of SandRidge shares, has described the bid as providing an "unjustified premium." SandRidge shares were up...

  • TORONTO, Dec 11- Canada's main stock index inched higher in morning trade on Monday, boosted by gains for materials stocks including fertilizer companies, while gold miners moved in both directions and railway stocks weighed. *At 9:51 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was up 9.16 points, or 0.06 percent, at 16,105.23.

  • NEW YORK— Mario Batali is giving up oversight of the daily operations at his restaurant empire following reports of sexual misconduct by the celebrity chef over a period of at least 20 years. Batali will also take leave from his ABC cooking show, "The Chew." ABC takes matters like this very seriously as we are committed to a safe work environment.

  • On Thursday the Labor Department releases data on the number of initial jobless claims last week. Issaquah, Washington- based Costco Wholesale reports its first-quarter earnings on Thursday. Costco's shares slumped nearly 7.5 percent in October after it said its gross margins shrank in the fourth quarter.

  • LONDON, Dec 11- Scientists have for the first time fixed a protein defect that causes Huntington's disease by injecting a drug from Ionis Pharmaceuticals into the spine, offering new hope for patients with the devastating genetic disease. Lead researcher Sarah Tabrizi, professor of clinical neurology at University College London, said the ability of the drug...

  • WASHINGTON— U.S. employers posted slightly fewer job openings in October than the previous month, but the number of people being hired improved. The Labor Department said Monday that nearly 6 million jobs were available at the end of October, down from 6.18 million in September. Manufacturers, retailers, wholesalers and the information sector advertised fewer...

  • *Inflation concerns weigh on U.S dollar. NEW YORK, Dec 11- The U.S. dollar weakened on Monday, weighed down by tepid inflation data from Fridays jobs report, while safe-haven currencies the Japanese yen and Swiss franc gained after an explosion rocked one of New York's busiest commuter hubs. I still think we probably have some impact from non-farm payrolls on...

  • BUENOS AIRES, Dec 11- World Trade Organization members must shore up and strengthen the global trade body, China and the European Union said at the opening of the WTO's ministerial conference on Monday. "Let us join hands and take real actions to uphold the authority and efficacy of the WTO," Chinese Minister of Commerce Zhong Shan and told the WTO, which has been...

  • PARIS, Dec 11- Airbus is exploring plans to lower A380 superjumbo production to as low as six aircraft per year as it battles to secure viable production of the world's largest airliner beyond the end of the decade, industry sources said. Squeezed by smaller but efficient twin-engined jets, Airbus has announced plans to lower A380 output to 12 aircraft in 2018 and...

  • US DOLLAR DROPS SHARPLY, DOLLAR INDEX DOWN 0.20 PCT ON THE DAY TO 93.708.