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Repricing leveraged loans saves U.S. companies millions of dollars


NEW YORK Home security systems company ADT Corp has returned to the US leveraged loan market to slash its borrowing cost by repricing its April buyout loan for the second time, as a lack of loans leaves investors with few options but to agree.

Among the shocks, steady global growth is the biggest surprise

LONDON In a year of political shocks, the unexpected strength of the global economy going into 2017 may be the most enduring surprise for financial markets.

11:28am EST

EU upsets China with new steel price investigation

BRUSSELS The European Union has launched a new investigation into whether Chinese manufacturers are selling steel into Europe at unfairly low prices, angering China which says Europe's steel problems are due to the region's own economic weakness.

11:06am EST

Exclusive: ECB rejects Monte Paschi's request for more time to raise cash - source

MILAN The European Central Bank has rejected a request by Italy's Monte dei Paschi di Siena for more time to raise capital, a source said on Friday, a decision that piles pressure on the Rome government to bail out the lender.

10:38am EST

5-Star says Italy should use state money to save Monte Paschi

ROME Italy's anti-system 5-Star Movement (M5S) said on Friday the government should intervene to save the country's third-largest bank, Monte dei Paschi di Siena, and protect small savers from losses.

10:37am EST

McDonald's to move international tax base to UK amid EU scrutiny

(Story corrects paragraph 10 to replace U.S. drugmaker Allegion with U.S. lock maker Allegion)

10:30am EST

EU to impose sanctions on Congo security officials: diplomats

BRUSSELS European Union foreign ministers will impose asset freezes and travel bans next Monday on Congolese officials deemed responsible for suppressing anti-government protests in September that killed dozens, diplomats said on Friday.

10:03am EST

EU to extend economic sanctions on Russia after leaders meet on December 15

BRUSSELS The European Union will extend by six months its main economic sanctions on Russia over the conflict in Ukraine after the bloc's leaders meet in Brussels on Dec. 15, diplomatic sources and officials said on Friday.

9:22am EST

Monte dei Paschi managers met banks, Italy economy minister: Treasury source

ROME Banca Monte dei Paschi di Siena's top management met Italy's economy minister and representatives from investment banks JPMorgan and Mediobanca in Rome on Friday, a Treasury source said.

9:12am EST

European nations will disappear unless they unite, Juncker says

BRUSSELS Europe's economic and demographic weight in the world is diminishing and its nations will disappear in time unless they stand together in the European Union, European Commission President Jean-Claude Juncker said on Friday.

8:49am EST

Ex-Swiss banker goes home after U.S. loses extradition from Germany

NEW YORK A former Swiss banker who was arrested last year in Germany on U.S. charges that he helped wealthy Americans evade taxes is back in Switzerland after the denial of a request to extradite him to the United States from Germany, his lawyer said on Friday.

French add to U.S. concerns about Bayer contraceptive implant

PARIS Women in France who have used Bayer's contraceptive implant Essure have launched a legal complaint about side-effects similar to a challenge already underway in the United States.

Italian MPs' eagerness for pensions may delay snap election, skeptics say

ROME With hundreds of Italy's lawmakers months away from qualifying for a life-long pension for less than five years' work, skeptics say many of them hope to delay a snap election until their benefits are locked in.

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