Wells Fargo agrees to $541 million loan settlement
(Reuters) – Wells Fargo & Co will pay a net $541 million to Fannie Mae to settle claims over defective home loans, completing the government-controlled mortgage company’s efforts to have banks buy back troubled loans made before the financial crisis.
U.S. pending home sales end slide, hint at stabilization
WASHINGTON (Reuters) – Contracts to purchase previously owned U.S. homes edged up in November, marking the first increase in six months and providing a hopeful sign the sector has begun to stabilize after its momentum was sapped by rising mortgage rate…
World share markets rise to six-year high, euro gains
NEW YORK (Reuters) – World stock markets rose to a six-year high on Monday on optimism about the global economy heading into 2014, while the euro strengthened against the dollar and yen on comments by European Central Bank chief Mario Draghi.
Swatch fire seen affecting other watchmakers
ZURICH (Reuters) – A fire that destroyed a workshop at a Swatch Group factory will affect other watchmakers it supplies more than the Swiss firm itself, as a break in production is likely to cut the availability of parts to an industry already facing b…
Merkel says permanently fixing euro zone crisis vital for Germany
BERLIN (Reuters) – Chancellor Angela Merkel will tell Germans their fate is so closely entwined with the European Union that it is imperative to come up with answers on how to permanently resolve the euro zone’s sovereign debt crisis.
Italy presses Monte Paschi to complete $4 billion cash call
MILAN/ROME (Reuters) – The Italian government has urged Banca Monte dei Paschi di Siena to complete its planned 3 billion euro ($4 billion) cash call and avoid the threat of a state takeover after a stand-off between management and shareholders.
Russia was most protectionist nation in 2013: study
GENEVA (Reuters) – Russia put more protectionist policies in place than any other country in 2013, closely followed by neighboring Belarus, according to data from Global Trade Alert (GTA), a leading independent trade monitoring service.
Chile economy slows slightly, but consumption, jobs firm
SANTIAGO (Reuters) – Chile’s economy showed signs it was continuing to slow slightly in November, with manufacturing output slipping for a fourth straight month, even as consumption and the labor market remained firm.
Nokia Solutions chairman to step down after Microsoft deal
HELSINKI (Reuters) – Nokia said the chairman of its networking equipment unit, Nokia Solutions and Networks (NSN), will step down following the sale of the Finnish company’s mobile phone business to Microsoft.
Britons less inclined to pay down mortgage debt
LONDON (Reuters) – Britons were less inclined to use savings to pay down mortgage debt in the third quarter, data showed on Monday, adding to signs of improving consumer confidence as house prices rise and the job market recovers.
