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  • Calgary- based TransCanada Corp said it had sent a letter to the U.S. State Department to suspend its application while the company goes through a state review process in Nebraska. The State Department was reviewing TransCanada's request but continuing its assessment of the project in the meantime, a representative said. Asked if TransCanada was asking for a...

  • NEW YORK, Nov 2- A lawyer for Morgan Stanley struck back sharply on Monday against an insider trading lawsuit brought by a Russian billionaire's company, telling jurors it was "one of the craziest, most made-up cases" ever brought. Morgan Stanley agreed to act as BNP's agent to sell off Veleron's Magna stock if Veleron defaulted. Morgan Stanley learned the next...

  • Nov 2- American International Group Inc's quarterly operating profit plunged as income at all but one of its underwriting businesses declined and tumultuous markets hurt its investments. AIG, the largest commercial insurer in the United States and Canada, also incurred a hefty $274 million pretax restructuring charge that also hurt results in the quarter.

  • NEW YORK, Nov 2- Bill Gross just got a huge vote of "no confidence" from billionaire investor George Soros. Soros Fund Management LLC, which Soros chairs, pulled its roughly $500 million from an account run by Gross at Denver- based Janus Capital Group Inc, a source familiar with the matter said on Monday. The $500 million had been managed through a private investment...

  • NEW YORK, Nov 2- Influential short-selling firm Citron Research did not publish new allegations against Valeant Pharmaceuticals International Inc on Monday as many investors had anticipated, giving the beleaguered shares of the Canadian drugmaker a boost. Shares of Valeant jumped in early New York trading, and were up 8 percent by mid-afternoon, at $101.24.

  • NEW YORK, Nov 2- Bill Gross just got a huge vote of "no confidence" from billionaire investor George Soros. Soros Fund Management LLC, which Soros chairs, pulled its roughly $500 million from an account run by Gross at Denver- based Janus Capital Group Inc, a source familiar with the matter said on Monday. The $500 million had been managed through a private investment...

  • *Second big deal for Coty in three months. Nov 2- Coty Inc will buy the personal care and beauty business of Brazil's Hypermarcas SA for about $1 billion, beefing up its distribution in a fast-growing market ahead of the completion of a similar deal with Procter& Gamble. Shares of Coty, which will become the world's No. 3 make-up provider behind L'Oreal SA and Estee...

  • NEW YORK, Nov 2- Short-selling research firm Citron Research said in a report on Monday it will not be releasing new allegations against Canadian drugmaker Valeant Pharmaceuticals International Inc but will continue to investigate and report "the vast spectrum of claims now piling up" against the company. Citron is overseen by Left, who likened Valeant to...

  • BOSTON, Nov 2- Daniel Loeb's Third Point hedge fund now holds more bets on stock price declines than gains, the billionaire told investors in a letter seen by Reuters on Monday, making him one of the first hedge fund managers to outline a new strategy following a turbulent third quarter. The biggest losers during the quarter include SunEdison, Dow Chemical Co.,...

  • Nov 1- In a trial starting on Monday, Morgan Stanley will confront a Russian billionaire's claims that it illegally short-sold a company based on inside information at the height of the financial crisis. Veleron claims Morgan Stanley obtained inside information through a relationship it had with the company's lender. That information was forwarded from...

  • Oct 30- Husky Energy Inc, Canada's No. 3 integrated oil company, reported a third quarter loss due to after-tax impairment charges of C $3.8 billion on Friday and forecast a gloomy long-term outlook for oil and gas prices. Husky, controlled by Hong Kong billionaire Li Ka- shing, said that in addition to the impairment charges it wrote down C $167 million against...

  • Oct 30- Fresh& Easy filed its second bankruptcy in two years on Friday after billionaire Ron Burkle was unable to turn around the West Coast grocery chain, which is in the process of closing down. British grocer Tesco Plc launched Fresh& Easy in 2006 with many industry analysts expecting the deep-pocketed company to challenge the dominance of Wal-Mart Stores Inc.

  • Oct 29- American International Group Inc directors are discussing a spinoff or sale of the company's small mortgage-insurance business as it faces new pressure from shareholders to break itself apart, the Wall Street Journal reported, citing people familiar with the matter. Billionaire investor Carl Icahn published a letter on Wednesday advising CEO...

  • Oct 29- Pfizer Inc, the No. 1 U.S. drugmaker, and Botox maker Allergan Plc said they were in friendly talks to create a pharmaceutical colossus but the prospect that the company would seek to avoid U.S. taxes sounded political alarm bells. Both New York- based Pfizer and Dublin- based Allergan said no agreement has been reached and declined to discuss any terms of the...

  • Oct 29- A U.S. appeals court on Thursday rejected Texas financier Robert Allen Stanford's bid to overturn his conviction and 110- year prison sentence for running what federal prosecutors called a $7.2 billion Ponzi scheme. The 5th U.S. Circuit Court of Appeals in New Orleans turned aside 10 arguments raised by Stanford. Prosecutors said he ran a two-decade...

  • PARIS/ MILAN, Oct 29- French tycoon Xavier Niel has built up the equivalent of a 11.2 percent voting stake in Telecom Italia, setting up a potential power struggle with largest shareholder Vivendi over the carrier's future. Niel, founder of low-cost French mobile operator Iliad, arrives at Telecom Italia just as French media group Vivendi, led by shareholder and...

  • PARIS/ MILAN, Oct 29- Xavier Niel, the founder of low-cost French mobile operator Iliad, has bought 6 percent of Telecom Italia via a personal investment company and has another 5 percent through derivative contracts, a source with knowledge of the matter said. That cemented Vivendi's role as the biggest shareholder in the indebted company, as well as making...

  • BOULDER, Colo., Oct 28- Republican presidential candidate Jeb Bush suggested rival Marco Rubio resign his Senate seat on Wednesday at a testy economic debate marked by frequent personal attacks and several heated clashes over tax policy. Rubio, a U.S. senator from Florida, defended his record of missing about one-third of his Senate votes this year while...

  • BOULDER, Colo., Oct 28- Republican presidential candidate Jeb Bush lashed out at rival Marco Rubio in a spirited debate on Wednesday, joining a Florida newspaper in suggesting Rubio should resign his Senate seat given all of his missed votes. Rubio, a U.S. senator from Florida, defended his record of missing about one-third of his Senate votes this year while...

  • BOULDER, Colo., Oct 28- The Republican presidential contenders clashed over tax plans in a debate on Wednesday, with front-runner Ben Carson defending his Bible-inspired proposals and former business executive Carly Fiorina vowing to reduce the complicated tax code to three pages. Fiorina, a former executive at Hewlett-Packard, said she would reduce the tax...