TOP STORIES
U.S. STOCKS RISE AS COMMODITIES, BANKS RALLY
U.S. stocks extended gains as recently battered commodities and
banking shares rallied.
OIL SOARS ON PRODUCTION CUT HOPES
Oil prices rallied, rebounding from a 13-year low reached the
previous day, on speculation of production cuts among some of the
world's biggest suppliers.
U.S. CONSUMER SENTIMENT SLIPS AMID SIGNS OF SLOWER GROWTH
U.S. consumer confidence drifted lower in February as the
economic outlook deteriorated, according to a new survey.
U.S. SHOPPERS BOOSTED SPENDING IN JANUARY
American consumers increased their spending into 2016, a robust
start to the year amid low unemployment and months of cheap
gasoline.
GLOBAL WEAKNESS, LOW OIL PRICES WEIGH ON U.S. IMPORT PRICES
Prices for imported goods fell sharply in January, the latest
sign that a slumping global economy and plunging oil prices are
weighing on inflation in the U.S.
DEUTSCHE BANK TO BUY BACK $5.4 BILLION IN DEBT
The move is designed to bolster investor confidence in the
German lender's finances and in the value of its securities.
VISA DETAILS STAKE IN SQUARE
Square shares jumped Friday after Visa detailed its previously
announced investment in the startup, raising questions about the
future relationship between the payment processors.
FED'S DUDLEY MINDFUL OF MARKET TROUBLE
Federal Reserve Bank of New York President William Dudley said
Friday that he is very much mindful of the risks created by
unsettled financial markets, but declined to say whether these
adverse events had changed the outlook significantly for the U.S.
economy.
VOLKSWAGEN GLOBAL VEHICLE SALES RETURN TO GROWTH
Global sales of Volkswagen vehicles returned to growth in
January on the back of resurgent sales in China, even as the
company's namesake brand declined in all other markets.
FRENCH PROSECUTORS DON'T SEEK PRISON TIME FOR UBER EXECUTIVES IN TRIAL
French prosecutors asked a court to slap two top executives with
fines and a ban on running companies but declined to ask for prison
time during the second day of a symbolic trial against the
car-hailing company.
ARGENTINA LOOKS TO TAKE MORE AGGRESSIVE STANCE WITH BONDHOLDERS
Argentina is asking a U.S. judge to lift an injunction that is
preventing the government from borrowing in the international bond
markets, an attempt to go around holders of its defaulted debt who
rejected the country's recent settlement offer.
CSX TO LAY OFF 116 EMPLOYEES
Railroad operator CSX Corp. said it is laying off 116 mechanical
employees as it streamlines operations at 16 mechanical facilities.
The company said it is responding to low rail-cargo volumes.
BANK OF RUSSIA LOWERS OIL-PRICE FORECAST
The Russian central bank has lowered its oil-price forecasts,
preparing for an average price of $25 a barrel this year, the
central bank's first deputy chairman said.
EUROZONE ECONOMY GROWS STEADILY BUT OUTLOOK DARKENS
The eurozone economy continued its slow growth in the final
quarter of 2015, but a darkening global outlook and
financial-market turmoil mean the best of Europe's recovery is
likely behind it.
MAPLE BANK DEPOSITORS TO RECEIVE COMPENSATION
Depositors at Maple Bank are set to receive compensation from
Germany's deposit-insurance scheme, Germany's financial regulator
said, after insolvency proceedings were started by a court in
Frankfurt.
NASDAQ TO BUY MARKETWIRED
Nasdaq said it would buy Canadian news release distributor
Marketwired and expects the deal to add to adjusted earnings within
a year of closing.
LILLY: U.K. COURT RULES IN OPPONENT'S FAVOR ON ALIMTA PATENT
Eli Lilly and Co. said it lost a case in the U.K. that would
have prohibited competitors from making a generic form of its key
Alimta cancer drug before the patent expires in 2021.
FED TO CONTINUE TESTING ITS TERM DEPOSIT FACILITY TOOL
The Federal Reserve plans to continue testing one of the
secondary tools in its arsenal of ways to adjust short-term
interest rates.
GOOGLE WINS U.K. COURT CASE FILED BY STREETMAP
Alphabet's Google has won a U.K. court case filed by online
mapping company Streetmap.EU, who alleged the U.S. technology
company was skewing search results in favor of its own mapping
product.
EU OPENS THREE INVESTIGATIONS ON CHINA STEEL IMPORTS
The European Commission opened three investigations into
allegations of unfair trade practices by Chinese steel
manufacturers to determine whether imported steel products were
being sold in the EU at below-market prices, hurting European
producers.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Central Banks
BOE EYES WAYS TO OPEN ITS CASH FACILITIES TO ISLAMIC BANKS
The Bank of England said it is looking at ways to open its cash
facilities to Islamic banks, a move that would make it the first of
the world's major central banks to offer such a service.
Heard on the Street
VOLKSWAGEN'S PROBLEMS AREN'T RENAULT'S
Investors comfortable with the volume car industry's troubling
economics could do worse than buy into Renault's ongoing
recovery.
(END) Dow Jones Newswires
February 12, 2016 13:10 ET (18:10 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.