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Lac Megantic victims' fund to begin payments without CP Rail

MONTREAL, Dec 22 (Reuters) - A C$460 million ($330.46 million)settlement fund for victims of the 2013 Lac-Megantic crude-by-rail disaster will begin disbursements this week without the participation of Canadian Pacific Railway Ltd , the monitor for the bankrupt railroad blamed for the tragedy said on Tuesday.

US STOCKS-Wall Street rally sends Dow up 1 percent

* Indexes end up: Dow 0.96 pct, S&P 0.88 pct, Nasdaq 0.65 pct (Updates to close)

UPDATE 1-Brazil lawmaker's report could sink impeachment push

BRASILIA, Dec 22 (Reuters) - A key member of Brazil's Congressional budget committee has recommended the approval of the 2014 accounts of President Dilma Rousseff's government, which could undermine her opponents' case for impeaching her.

US STOCKS-Energy stocks fuel rally on Wall Street

* Indexes up: Dow 0.93 pct, S&P 0.79 pct, Nasdaq 0.51 pct (Updates to afternoon)

UPDATE 1-Brazil's new Finmin Barbosa sees no need to bail out Petrobras

BRASILIA, Dec 22 (Reuters) - Brazil's new finance minister, Nelson Barbosa, said on Tuesday that he sees no need to inject capital into debt-laden Petroleo Brasileiro SA as new management of the state-run oil company seeks to revive its finances.

Sequa calls off purchase of Norway offshore assets from Wintershall

OSLO, Dec 22 (Reuters) - Sequa Petroleum has called off a planned $602 million purchase of Norwegian offshore field interests from Wintershall, the oil and gas subsidiary of BASF, citing a poor market environment.

REFILE-UPDATE 1-Shell plans to complete BG merger by Feb. 15, cuts spending plan

LONDON, Dec 22 (Reuters) - Royal Dutch Shell said on Tuesday it planned to complete its proposed $53 billion takeover of BG Group by Feb. 15, outlining plans for further spending cuts next year in the face of low oil prices.

Nevada Regulators Propose Reduction in Solar Net Metering Payments

It’s about to get more expensive for homeowners to go solar in Nevada. The state’s public utilities commission filed Monday a draft order that would reduce the credits that customers get when they sell power back to the grid. The so-called net metering payments were a strong incentive for individuals and businesses in the state to install their own solar panels in recent years.

Shell sees more 2016 spending cut if BG deal goes ahead

LONDON, Dec 22 (Reuters) - Royal Dutch Shell said on Tuesday it planned to cut the 2016 capital spending following its proposed takeover of BG Group by $2 billion to $33 billion.

Black box hedge funds lead winners from oil collapse

* Millburn Commodity Program up 25.3 pct this year - performance data

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