Thomson Reuters News
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The probe of Libor manipulation is proving to be the tip of the iceberg as inquiries into assets from derivatives to foreign exchange show that if there’s a chance to rig benchmark rates in world markets, someone is usually willing to try.
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Virgin Media Inc., the British television and Internet company owned by John Malone’s Liberty Global Plc, was downgraded to four levels below investment grade by Fitch Ratings.
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Global regulators may start overseeing currency rates in a widening response to benchmark- rate setting scandals that began with revelations on the manipulation of Libor, two people familiar with the matter said.
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U.S. stocks fell, after yesterday’s rally in the Standard & Poor’s 500 Index, as the International Monetary Fund cut its 2014 outlook for America and urged the central bank to carefully manage its exit from stimulus plans.
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A gauge of U.S. corporate credit risk rose as consumer confidence dropped this month and industrial production remained unchanged. Rio Tinto Plc sold $3 billion of bonds in four parts.
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U.S. stocks fell, extending a weekly loss, as the International Monetary Fund cut its 2014 American growth forecast and warned that tapering of Federal Reserve stimulus may be risky if not handled properly. Treasuries and commodities rise, while the yen rallied.
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The Canadian dollar touched the highest in a month versus its U.S. peer as oil, the nation’s largest export, advanced and investors bet stronger economic data may convince the Bank of Canada to raise interest rates.
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Manufacturers in the U.S. boosted production in May for the first time in three months, signaling the worst of the industrial slump is over.
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Consumer confidence in June eased from a six-year high as progress in the labor market supported Americans’ views of the economic outlook.
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European stocks rose, with the Stoxx Europe 600 Index paring its fourth weekly drop, as worse-than- forecast U.S. economic data fueled investor speculation that central banks won’t immediately pare stimulus measures.
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