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Big banks accused of interest rate-swap fixing in class action suit

Goldman Sachs sign is seen above floor of the New York Stock Exchange shortly after the opening bell in the Manhattan borough of New YorkNEW YORK (IFR/Reuters) - A class action lawsuit, filed Wednesday, accuses10 of Wall Street?s biggest banks and two trading platforms of conspiring to limit competition in the $320 trillion market for interest rate swaps. The class action lawsuit, filed in U.S. District Court in Manhattan, accuses Goldman Sachs, Bank of America Merrill Lynch, JPMorgan Chase, Citigroup, Credit Suisse, Barclays, BNP Paribas, UBS, Deutsche Bank, and the Royal Bank of Scotland of colluding to prevent the trading of interest rate swaps on electronic exchanges, like the ones on which stocks are traded.

Euro off as ECB seen easing further; Wall Street ends flat

Swiss franc coins are seen in a cash drawer in this picture illustration in BernBy Rodrigo Campos and Dion Rabouin NEW YORK (Reuters) - The U.S. dollar gained and the euro briefly hit a seven-month low on Wednesday in a volatile session on views the European Central Bank will ease monetary policy further, including buying more debt and charging banks for hoarding cash. U.S. Treasury debt prices were supported by record low yields for German government bonds and data that underscored the view of muted domestic inflation.

Wall Street indexes flat in pre-holiday lull; health, consumer up

Traders work on the floor of the New York Stock Exchange"The news this morning was a little better than worse, so the market went up," said Peter Costa, president of Empire Executions Inc, citing mixed economic data. The Dow Jones industrial average rose 1.2 points, or 0.01 percent, to 17,813.39, the S&P 500 lost 0.27 points, or 0.01 percent, to 2,088.87 and the Nasdaq Composite added 13.34 points, or 0.26 percent, to 5,116.14.

Deere sees weak equipment sales in 2016 as farm economy remains soft

Equipment for sale is seen at a John Deere dealer in Denver(Reuters) - Deere & Co on Wednesday reported a drop in quarterly earnings that was not as steep as Wall Street expected and gave a less dire outlook than analysts had feared, saying it was well-positioned to weather a worsening slump in demand for its farm equipment.

Exclusive - Three Goldman bankers leave for Uber as tech world raids Wall Street talent

A taxi is reflected in a window at the office of taxi-hailing service Uber Inc in Hong Kong, ChinaBy Olivia Oran and Heather Somerville NEW YORK/SAN FRANCISCO (Reuters) - Three mid-level bankers in Goldman Sachs Group Inc's technology investment banking group in San Francisco have left to take positions at ride service company Uber Technologies Inc in recent months, people familiar with the matter told Reuters. The bankers are the latest to leave Wall Street banks for Silicon Valley startups, where the lure of more flexible hours - and in some cases stock options and share grants - can be hard to resist. Uber, currently valued at around $51 billion, said in August that it expected an IPO within 18 to 24 months.

MIDEAST STOCKS-CIB helps Egypt rebound; Saudi market flat

* CIB bought after long slide on devaluation fears * Egyptian index climbs from near technical support * Saudi Automotive Services rises after repaying loan early * GISS drags down Qatar before MSCI ejection * Abu Dhabi's TAQA jumps in heaviest trade since April 2013 By Andrew Torchia DUBAI, Nov 25 (Reuters) - A bounce in shares of Commercial International Bank (CIB) helped Egypt's stock market rebound from near technical support on Wednesday, while most Gulf markets were little changed. ...

Nigeria stocks recover from 9-month low after rate cut

A security officer checks a man outside the Nigerian Stock Exchange in LagosLAGOS (Reuters) - Nigerian stocks recovered from a nine-month low on Wednesday to gain 0.24 percent after the central bank announced a surprise interest rate cut aimed at stimulating lending in Africa's biggest economy. The stock market, which has the second-biggest weighting after Kuwait on the MSCI frontier market index, erased seven days of losses to climb to 27,662 points. The index is down 20.4 percent this year. The index shed 3.3 percent in the seven-days before the central bank's decision on rates on Tuesday. Top gainers included Transcorp up 4.02 percent, Fidelity Bank 2. ...

China securities body finds $166 billion error in CITIC Sec reports

The signboard of CITIC Securities is seen at its head office in BeijingBy Shu Zhang and Nicholas Heath BEIJING (Reuters) - CITIC Securities Co , China's biggest brokerage, overstated some of its financial derivatives by more than 1 trillion yuan ($166 billion / 103.7 billion) in monthly reports from April to September, the country's securities association said. The Securities Association of China (SAC) said that CITIC reported inaccurate numbers in statistical reports on over-the-counter equity swap deals partly carried out during the summer's stock market rout. The SAC, a quasi-regulatory body supervised by the China Securities Regulatory Commission, said it was investigating the matter, but has not accused CITIC Securities of any wrongdoing.

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