STOCKS NEWS US-Citigroup to sell Japanese unit to Nomura

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0744 ET 01July2009-Citigroup to sell Japanese unit to Nomura
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Citigroup (C.N) agreed to sell its Japanese trust bank,
NikkoCiti, to a unit of Nomura Holdings (8604.T) for $196
million.

Nomura said the acquisition is scheduled to be completed as
early as October, subject to regulatory approvals, and would
not include any liabilities related to NikkoCiti's exposure to
loans originated by the now-bankrupt money lender SFCG Co.

For details, see [ID:nBNG504048]

Shares of Citigroup rose 1.3 percent to $3.01 in premarket
trading.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0740 ET 01July2009-Futures up on rise in oil, ahead of data
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U.S. index futures were up on Wednesday, as oil rebounded
from its earlier losses. Investors were also looking ahead to
the release of a private sector employment report that could
give some insight into June payroll data.

For details, see [ID:nN01489351]

Dow Jones industrial average futures DJc1 rose 33 points
while S&P 500 futures SPc1 gained 5.6 points and Nasdaq 100
futures NDc1 were up 9.25 points.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0732 ET 01July2009-Planned layoffs fall to 15-month low in
June
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Planned layoffs at U.S. firms fell for a fifth consecutive
month in June, hitting the lowest since March 2008 and
providing another hopeful sign as the U.S. economy struggles to
end its worst recession in decades.

Planned job cuts announced by U.S. employers totaled 74,393
in June, down 33 percent from 111,182 in May, according to a
report released on Wednesday by global outplacement consultancy
Challenger, Gray & Christmas, Inc.

For details, see [ID:nNYS005195]

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0727 ET 01July2009-KBW ups price target on Jefferies, Piper
Jaffray
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KBW on Wednesday lifted its price target on both Jefferies
Group (JEF.N) and Piper Jaffray Companies (PJC.N). The firm
also raised its earnings estimates on the pair.

Writing about Piper Jaffray, KBW said the increased view
was reflective of a robust quarter on the underwriting front,
and better merger and acquisition activity than originally
forecast. The target was raised to $40 from $36.
[ID:nWNAB3497]

Jefferies price target was raised by $2 to $22.
[ID:nWNAB3496]

Shares of Jefferies closed Tuesday at $21.33 while Piper
Jaffray closed at $43.67.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0722 ET 01July2009-Regulators fine AmEx over convenience
checks
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Two U.S. regulators have fined American Express Co (AXP.N)
and ordered it to reimburse credit card customers for failing
to honor "convenience checks."

The New York-based credit card and travel services company
said two of its banking units were fined $250,000 each.
American Express also agreed to establish a $3.5 million
reserve for affected customers.

The penalties were announced by the Office of Thrift
Supervision and the Federal Deposit Insurance Corp. American
Express consented to the penalties without admitting or denying
wrongdoing.

For details, see [ID:nN30470845]

Shares of American Express, a Dow component, closed Tuesday
at $23.24.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
0716 ET 01July2009-Morgan Stanley, MUFG in loan sharing
agreement
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Morgan Stanley (MS.N) and Japan's Mitsubishi UFJ Financial
Group (8306.T), Morgan Stanley's biggest shareholder, have
agreed to pool their lending resources under an agreement
designed to help win more investment banking business.

The agreement, which expands an existing relationship
between the two banking groups, calls for a joint venture to
provide loans to companies across North America. Combined loan
commitments to U.S. firms would be more than $100 billion.

For details, see [ID:nSP45374]

Shares of Morgan Stanley closed Tuesday at $28.51.

Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net