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China to clamp down on government funds, help firms save $4 bln-Xinhua

SHANGHAI, Feb 9- China plans to help companies save 26 billion yuan this year by cleaning up and regulating government funds that firms pay fees to, state news agency Xinhua reported on Tuesday, citing the finance ministry. Firms with monthly sales turnover of no more than 100,000 yuan will be exempted from paying fees to education and water conservancy funds,...
Source: Reuters
UPDATE 2-Cognizant forecasts slowest revenue growth in 14 years

*Sees Q1 revenue $3.18 bln- $3.24 bln vs est $3.32 bln. New Jersey- based Cognizant said it expects adjusted profit of between 78- 80 cents per share and revenue of $3.18 billion- $3.24 billion for the three months ending March. Analysts on average were expecting a profit of 81 cents per share and revenue of $3.32 billion for the first quarter, according to Thomson...
Source: Reuters
Thomson Reuters spot FX volumes rebound in January to $123 bln

Total foreign exchange trading volume across TR platforms, including forwards, swaps, options and non-deliverable forwards rose 12 percent on the month to $377 billion from $337 billion, but fell 5 percent on the year from $398 billion. The latest numbers from the Bank of England and New York Federal Reserve last month painted a similar picture.
Source: Reuters | By: Jamie McGeever
UPDATE 2-Investors in Thai Big C cheer $3.5 bln stake sale, rival bid seen unlikely

BANGKOK, Feb 8- Investors in Big C, one of Thailand's largest supermarket chains, cheered on Monday an up to $3.5 billion deal by France's Casino Group to sell its majority holding to TCC Group, owned by whiskey tycoon Charoen Sirivadhanabhakdi. Shares in Big C Supercenter hit a 13- month high of 251 baht on Monday, just below the offer price of 252.88 baht, and jumped...
Source: Reuters | By: Khettiya Jittapong and Manunphattr Dhanananphorn
UPDATE 2-Casino Group to sell Big C stake to Thai TCC Group

*Deal to boost tycoon Charoen's retail presence in Thailand. HONG KONG/ BANGKOK, Feb 7- France's Casino Group has agreed to sell its majority stake in Thai hypermarket operator Big C Supercenter for 3.1 billion euros excluding debt to Thailand's TCC Group, it said on Sunday. Casino announced a 4- billion-euro disposal plan in 2016, including the sale of its...
Source: Reuters | By: Denny Thomas and Khettiya Jittapong
UPDATE 1-China FX reserves fall almost $100 bln to lowest since May 2012

BEIJING, Feb 7- China's foreign reserves fell for a third straight month in January, as the central bank dumped dollars to defend the yuan and prevent an increase in capital outflows. China's foreign reserves fell $99.5 billion to $3.23 trillion in January, the lowest level since May 2012, central bank data showed, but higher than the median forecast of $3.20...
Source: Reuters
China FX reserves fall $99.5 bln in Jan

BEIJING, Feb 7- China's foreign exchange reserves, the world's largest, fell by $99.5 billion in January, the central bank said in a statement on Sunday. China's gold reserves rose to $63.57 billion at the end of January, from $60.19 billion at the end of 2015, the People's Bank of China said on its website. China's International Monetary Fund reserve position was at...
Source: Reuters
UPDATE 2-Argentina offers U.S. creditors $6.5 bln payment on defaulted debt

NEW YORK/ BUENOS AIRES, Feb 5- Argentina made a formal debt payment offer to U.S. creditors who hold its defaulted bonds on Friday, seeking to end a more than decade-long legal battle that transformed the South American country into a financial markets pariah. The offer, which asks creditors to take a reduced payment, followed five days of talks in New York between...
Source: Reuters | By: Daniel Bases and Sarah Marsh
UPDATE 4-LinkedIn sheds $11 bln in value on stock's worst day since debut

Feb 5- LinkedIn Corp's shares closed down 43.6 percent on Friday, wiping out nearly $11 billion of market value, after the social network for professionals shocked Wall Street with a revenue forecast that fell far short of expectations. The rout in the stock cost LinkedIn chairman Reid Hoffman about $1.2 billion based on his 11.1 percent stake in the company he...
Source: Reuters | By: Supantha Mukherjee and Anya George Tharakan
UPDATE 2-Judge delays payouts in BofA $8.5 bln mortgage bond settlement

NEW YORK, Feb 5- A judge on Friday delayed payouts to investors from Bank of America Corp's $8.5 billion mortgage securities settlement after the trustee overseeing the securities asked for instructions on how to split the proceeds among investors. Justice Saliann Scarpulla of New York state court in Manhattan signed an order that the money be held in escrow...
Source: Reuters | By: Karen Freifeld and Alison Frankel