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• Wall Street drops as focus shifts to cloudy 2012 (Reuters)
• Whistleblower documents illuminate case against BNY Mellon (Reuters)
• Italy short-term debt costs halve at auction (Reuters)
• Deutsche Boerse, NYSE extend merger deadline to sway Europe (Reuters)
• U.S. says China not currency manipulator; chides Japan (Reuters)
• SEC requiring coal firms to report safety problems (AP)
• Consumer confidence index surges in December (AP)
• Italy raises $14 billion at much lower cost (AP)
• InterOil Is Inches From Finalizing $6 Billion LNG Project (The Motley Fool)
• Corrected: Analysis: WTO risks future keeping Doha talks alive (Reuters)
• Citigroup selling Belgian retail assets (AP)
• US warns Iran against closing Hormuz oil route (AP)
• ‘Payroll Tax, The Sequel’: Did either side learn any lessons from Part 1? (The Christian Science Monitor)
• Michigan governor names team to review Detroit finances (Reuters)

Wall Street drops as focus shifts to cloudy 2012 (Reuters) Posted: 28 Dec 2011 09:25 AM PST Reuters - Stocks fell on Wednesday after a hefty year-end rally and the S&P 500 erased gains for the year as investors shifted focus to what is expected to be a difficult start to 2012.

Whistleblower documents illuminate case against BNY Mellon (Reuters) Posted: 28 Dec 2011 07:10 AM PST Reuters - Confidential whistleblower documents that helped spark a massive state and federal investigation into how Bank of New York Mellon Corp charged pension funds for currency exchange, provide a rare window into how a bank insider aided a lawsuit against the bank.

Italy short-term debt costs halve at auction (Reuters) Posted: 28 Dec 2011 09:24 AM PST Reuters - Italy's short-term debt costs halved at auction Wednesday as a new austerity package and an injection of cheap long-term money from the European Central Bank won Rome some respite in thin year-end markets.

Deutsche Boerse, NYSE extend merger deadline to sway Europe (Reuters) Posted: 28 Dec 2011 05:17 AM PST Reuters - Deutsche Boerse and NYSE Euronext have extended the deadline for completion of their planned merger to March 31 next year as they seek to convince European regulators to back the $9 billion deal.

U.S. says China not currency manipulator; chides Japan (Reuters) Posted: 27 Dec 2011 11:50 PM PST Reuters - The U.S. Treasury again shied away from labeling China a currency manipulator on Tuesday, but it rapped the country for not moving quickly enough on exchange rate reforms.

SEC requiring coal firms to report safety problems (AP) Posted: 23 Dec 2011 02:48 PM PST AP - A lawyer suing the former Massey Energy Co. says investors might have made better decisions about putting money into the coal company had it been required to report safety violations to the U.S. Securities and Exchange Commission before last year's Upper Big Branch mine disaster that killed 29 miners.

Consumer confidence index surges in December (AP) Posted: 27 Dec 2011 10:51 AM PST AP - Americans are gaining faith that the economy is on the upswing.

Italy raises $14 billion at much lower cost (AP) Posted: 28 Dec 2011 08:46 AM PST AP - Strong demand for short-term Italian government debt on Wednesday pushed the country's borrowing costs lower and suggested investors have become less jittery about an imminent default by the eurozone's third-largest economy.

InterOil Is Inches From Finalizing $6 Billion LNG Project (The Motley Fool) Posted: 28 Dec 2011 08:03 AM PST The Motley Fool - In my last article on InterOil (NYSE: IOC - News), I discussed how close the company was to finalizing its $6 billion Papua New Guinea LNG project. Now, they have struck another preliminary sales agreement with Chinese company ENN and moved even closer to investing in the project.

Corrected: Analysis: WTO risks future keeping Doha talks alive (Reuters) Posted: 28 Dec 2011 01:11 AM PST Reuters - The 153 members of the World Trade Organization agree on two things: We're in a hole. And we must keep digging.

Citigroup selling Belgian retail assets (AP) Posted: 28 Dec 2011 09:37 AM PST AP - Citigroup Inc. is selling its Belgian consumer business to French bank Credit Mutuel Nord Europe as the New York bank continues to sell off operations that it deems are outside its core business.

US warns Iran against closing Hormuz oil route (AP) Posted: 28 Dec 2011 09:33 AM PST AP - The U.S. warned Iran Wednesday that it will not tolerate any disruption of naval traffic through the Strait of Hormuz, after Iran's navy chief said the Islamic Republic is capable of closing the vital oil route if the West imposes new sanctions targeting Tehran's oil exports.

‘Payroll Tax, The Sequel’: Did either side learn any lessons from Part 1? (The Christian Science Monitor) Posted: 27 Dec 2011 01:03 PM PST The Christian Science Monitor - Congress took its impasse over payroll tax cuts and other expiring provisions to the brink of raising taxes for some 160 million Americans, before House Speaker John Boehner gave in.

Michigan governor names team to review Detroit finances (Reuters) Posted: 27 Dec 2011 02:08 PM PST Reuters - Michigan's governor on Tuesday appointed a team to review Detroit's finances, a move that could end in a possible state takeover of the city as it struggles with a shrinking auto industry and falling revenues.

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