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President Xi says China will guarantee foreign companies' legal rights

By Paul Carsten WUZHEN, China (Reuters) - China will guarantee foreign companies' legal rights, President Xi Jinping said on Wednesday at the country's second annual World Internet Conference in Wuzhen. "Safeguarding the legal rights of foreign-invested businesses will not change," said Xi. "As long as China's laws are...
Dec 16, 2015 |

Wall Street up as oil recovers; Fed in focus

"Investors seem to be at the crossroads of optimism and concern, with sentiment today leaning toward optimism," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management in Minneapolis. Bank stocks rose on the expectation of improving interest income from higher rates, with Goldman Sachs' 2.6 percent rise providing...
Dec 15, 2015 |

Janet Yellen: An orthodox economist for unorthodox times

By Jason Lange WASHINGTON (Reuters) - Janet Yellen is guiding the Federal Reserve towards its first rate rise in a decade armed with traditional economic models that some economists worry could fail her in a world of massive money printing and near zero rates. If she is right, Yellen, who has already presided over the end of the Fed's...
Dec 15, 2015 |

Qualcomm decides against breakup, says current structure best

Qualcomm Inc has decided not to split into separate chipmaking and technology licensing businesses, concluding a six-month strategic review instigated by hedge fund Jana Partners. San Diego-based Qualcomm, the biggest maker of chips used in mobile phones, said on Tuesday its current structure offered unique strategic benefits that cannot be...
Dec 15, 2015 |

Oil up 1 percent as support emerges before 11-year low

Brent and U.S. crude's West Texas Intermediate (WTI) futures rose for a second straight day on short covering, after being unable to break below a seven-year trough. "We are seeing nothing unusual about this week's price bounce given the fact that the entire complex had become much oversold based on virtually all of our technical...
Dec 15, 2015 |

Steadily firming U.S. inflation supports Fed rate hike

Underlying U.S. inflation pressures rose in November, which could give the Federal Reserve more confidence to raise interest rates on Wednesday, even as renewed weakness in gasoline prices kept overall consumer prices in check. The Labor Department said on Tuesday its so-called core Consumer Price Index, which excludes food and energy, gained 0.2...
Dec 15, 2015 |

Dow, DuPont eye big tax savings in rare merger of equals

The tax-free treatment of the spin-offs Dow Chemical Co DOW.N and DuPont DD.N plan to carry out after they merge their businesses is a prime driver of the deal, potentially saving tens of billions of dollars, industry experts said. The $120 billion merger, announced last week, comes less than a month after drug maker Pfizer Inc PFE.N said it would...
Dec 15, 2015 |

Asian stocks firm as Fed looms large, yuan slips

By Lisa Twaronite TOKYO (Reuters) - Asian shares firmed on Tuesday as recently volatile crude oil prices showed some stability, though gains were limited by caution ahead of a widely anticipated U.S. interest rate increase by the Federal Reserve. China's yuan, meanwhile, weakened against the dollar after the People's Bank of China (PBOC)...
Dec 15, 2015 |

Oil extends losing streak as oversupply concerns persist

Oil prices dipped on Tuesday, set to extend its losing streak to an eighth day, as investors remain concerned about a global glut and mild winter demand that sent prices close to 11-year lows during the previous session. Short-term further pressure can be expected.
Dec 15, 2015 |

US trade body declines Nvidia's review petition against Samsung

(Reuters) - A U.S. trade body on Monday upheld its earlier decision that rejected Nvidia Corp's claims of patent violation by Samsung Electronics Co and Qualcomm Inc over use of Nvidia's graphics chip technology. The U.S. International Trade Commission (USITC) decided not to review an initial order by an administrative law judge on Oct. 9...
Dec 15, 2015 |

Dell says could buy back at least $3 billion in VMware tracking stock

Dell Inc [DI.UL] said in a filing on Monday that it has the flexibility to buy back at least $3 billion in VMWare Inc tracking stock, the special class of shares the computer maker plans to issue to help finance its acquisition of EMC Corp . The disclosure could prove important as Dell seeks ways to boost the value of VMware, a virtualization...
Dec 15, 2015 |

Newell Rubbermaid to buy Jarden for about $13 billion

(Reuters) - Newell Rubbermaid Inc, the maker of Sharpie markers and Parker pens, agreed to buy diversified consumer products company Jarden Corp for $13.22 billion, adding brands such as Sunbeam kitchen appliances and Coleman outdoor gear. Jarden shareholders will receive $21 in cash and 0.862 Newell shares for each share held, the companies said...
Dec 14, 2015 |

Fed weighs merits of jumbo portfolio in post-crisis era

By Jonathan Spicer and Ann Saphir NEW YORK/SAN FRANCISCO (Reuters) - Once the Federal Reserve lifts interest rates from near zero, likely this week, the focus will turn to the other legacy of the crisis-era policies: the Fed's bloated balance sheet. The prevailing view is that the U.S. central bank's $4.5 trillion portfolio, swollen by...
Dec 14, 2015 |

Alibaba agrees to $266 million acquisition deal with South China Morning Post

SHANGHAI/HONG KONG (Reuters) - Alibaba Group Holding Ltd has agreed on a $266 million deal to acquire the South China Morning Post and other media assets of SCMP Group Ltd , a deal that has raised a question over the outlook for its editorial independence. In a filing to the Hong Kong stock exchange on Monday, SCMP Group Ltd cited an...
Dec 14, 2015 |

Oil tumbles toward 11-year lows on worsening glut

By Dmitry Zhdannikov and Amanda Cooper LONDON (Reuters) - Oil prices tumbled 4 percent on Monday, coming close to their 11-year low, on growing fears that the global oil glut would worsen in the months to come in a pricing war between leading OPEC and non-OPEC producers. Brent crude fell by 4 percent to below $36.40 a barrel for the first time...
Dec 14, 2015 |

Indexes lower as crude oil prices hover near 11-year low

"It's the (Fed) communiqué that's going to count, but the real problem here is the junk bond market, which is tied to oil prices," said Peter Cardillo, chief market economist at First Standard Financial in New York. "A lot of paper written to oil companies are in question, and so it ties in with the price of oil," he...
Dec 14, 2015 |

Valeant hires attorney, crisis management firm as U.S. scrutiny mounts

By Sarah N. Lynch and David Ingram WASHINGTON/NEW YORK (Reuters) - U.S. pharmaceuticals firm Valeant, under mounting pressure from Congress and prosecutors over its drug pricing, has hired an attorney in Washington, DC and crisis public relations experts with political connections, according to sources familiar with the matter. The move, confirmed...
Dec 14, 2015 |

Alibaba agrees on $266 million acquisition deal with South China Morning Post

Alibaba Group Holding Ltd has agreed on a HK$2.06 billion ($265.8 million) deal to acquire the South China Morning Post and other media assets of SCMP Group Ltd , the newspaper group said in a statement on Monday. Alibaba and SCMP Group Ltd said on Friday that the Hangzhou-based company would buy the 112-year-old English language newspaper and...
Dec 14, 2015 |

Cheniere votes to replace CEO Souki, appoints Shear as interim head

Cheniere Energy Inc said on Sunday it would replace Chief Executive Charif Souki months after activist investor Carl Icahn took a big stake in the company as it prepared to become the first exporter of natural gas from the United States. The board decided on the change over the weekend at a meeting where directors reevaluated Souki's plans of...
Dec 14, 2015 |

Asia stocks drop as oil rout deepens, yuan extends slide

By Shinichi Saoshiro TOKYO (Reuters) - Asian stocks fell on Monday and China's yuan hit fresh 4-1/2 year lows as plunging oil prices added to investors' nervousness about riskier assets ahead of an expected U.S. rate rise by the Federal Reserve later in the week. The People's Bank of China (PBOC) on Monday continued guiding the...
Dec 14, 2015 |

Hezbollah buries militant Qantar, says Israel will be held accountable

Lebanon's Hezbollah group said on Monday that Israel would be held accountable for killing prominent militant Samir Qantar in an air strike in Syria, and accorded him an elaborate funeral of... Read More

Russia says black box from warplane downed by Turkey unreadable

Investigators in Moscow said on Monday they were unable to retrieve information from the damaged black box of a Russian warplane shot down by Turkey last month, data the Kremlin hoped would support... Read More

Exclusive: U.S. glossed over Oman's human rights record during Iran talks

By Jason Szep, Matt Spetalnick and Yara Bayoumy WASHINGTON/MUSCAT (Reuters) - As the United States negotiated this year’s nuclear pact with Iran, the State Department quietly agreed to spare the... Read More