Reuters Business Today: December 28, 2016

Click to View in Browser Wednesday, December 28, 2016 Largest drop in two months as Wall St. rally loses steam NEW YORK (Reuters) - U.S. stocks fell in low volume on Wednesday in a broad decline triggered in part by a sharp drop in home resales. Pending home sales drop to 10-month low in November WASHINGTON (Reuters) - Contracts to buy previously owned U.S. homes fell in November to their lowest level in nearly a year, a sign rising interest rates could be weighing on the housing market, the National Association of Realtors said on Wednesday. Writedown fears wipe $5 billion off Toshiba's value as it weighs options TOKYO (Reuters) - A looming writedown at Japanese conglomerate Toshiba Corp has wiped almost $5 billion off its value in two days and prompted a credit rating downgrade on Wednesday, as the company grapples to plug a potential multi-billion dollar hole. Takata could pay up to $1 billion to settle U.S. criminal probe: WSJ (Reuters) - Japan's Takata Corp is nearing a settlement with the U.S. Department of Justice and is expected to pay up to $1 billion to resolve allegations of criminal wrongdoing related to its faulty air bag inflators, the Wall Street Journal reported. FTC requires divestitures in $13.53 billion Boehringer-Sanofi deal WASHINGTON (Reuters) - The U.S. Federal Trade Commission said on Wednesday that German pharmaceutical company Boehringer Ingelheim agreed to divest five types of animal health products to settle FTC charges that a proposed asset swap with Sanofi would harm competition. U.S. shale companies to boost spending as banks loosen purse strings (Reuters) - U.S. shale drillers are set to ramp up spending on exploration and production next year as recovering oil prices prompt banks to extend credit lines for the first time in two years. Kate Spade exploring sale: WSJ (Reuters) - Hand bag and accessories maker and retailer Kate Spade & Co , under pressure from an activist investor, is exploring a sale and is working with a bank to sound out possible buyers, the Wall Street Journal reported, citing people familiar with the matter. Abbott gets U.S. antitrust approval to buy St. Jude Medical WASHINGTON (Reuters) - Healthcare company Abbott Laboratories has won U.S. antitrust approval for its proposed $25 billion acquisition of medical device maker St. Jude Medical Inc , the U.S. Federal Trade Commission said on Tuesday. South Korea fines Qualcomm $854 million for violating competition laws SEJONG, South Korea/SAN FRANCISCO (Reuters) - South Korea's antitrust regulator fined Qualcomm Inc 1.03 trillion won ($854 million) for what it called unfair business practices in patent licensing and modem chip sales, a decision the U.S. chipmaker said it will challenge in court. New York eases proposed cyber regulations after industry complaints (Reuters) - New York state's financial regulator on Wednesday revised a proposal for the nation's first cyber security rules for banks and insurers, loosening some security requirements and delaying implementation by two months to March 1. Related Video Delta cancels order for 18 Dreamliners Indictment & tax amnesty: what next for Argentina? Counterparties is a curated snapshot of the best finance news and commentary around the web. Register Today News you can use with actionable, timely advice for managing your financial life, including retirement, taxes, real estate, education and more. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2016 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook