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  • Aug 27- Diversified U.S. miner and energy producer Freeport-McMoran Inc said it would cut 10 percent of its U.S. mining workforce and lowered the amount it plans to spend on mining in 2016 by 25 percent to $2 billion as commodity prices continue to fall. The company, which operates seven open-pit copper mines in North America, plans to suspend mining at its Miami...

  • WASHINGTON— Fewer people sought U.S. unemployment benefits last week, evidence that employers remain confident in the economy and are laying off few workers. The Labor Department said Thursday that weekly applications for unemployment aid dropped 6,000 to a seasonally adjusted 271,000. The four-week average, a less volatile measure, ticked up 1,000 to...

  • Freeport-McMoran lowers 2016 mining capex, to cut jobs Thursday, 27 Aug 2015 | 8:20 AM ET

    Aug 27- Diversified U.S. miner and energy producer Freeport-McMoran Inc said it would lower its capital budget for mining in 2016 by 25 percent, or $700 million, as commodity prices continue to weaken.

  • Syngenta tanks 18% after Monsanto walks away Wednesday, 26 Aug 2015 | 12:53 PM ET
    Assistant farm manager Matt Wiggeim inspects a Syngenta AG Golden Harvest brand hybrid seed corn seedling in a field in Princeton, Illinois.

    Monsanto's $47 billion bid to buy Swiss rival Syngenta has fallen through, the U.S. company said on Wednesday.

  • Angry Birds maker Rovio plans layoffs in restructuring Wednesday, 26 Aug 2015 | 7:52 AM ET

    HELSINKI— Popular mobile game maker Rovio Entertainment says it plans to restructure its business and lay off up to 260 people because the company took on "too many things" during the past few years. The layoffs will affect the whole organization, excluding teams working on the Angry Birds Movie in the United States and Canada, expected for release in May 2016.

  • *SK Hynix says to build 2 new S.Korea plants by 2024. SEOUL, Aug 25- SK Hynix Inc, the world's No. 2 DRAM chip maker, on Tuesday said it plans to spend 31 trillion won to build two new chip plants in South Korea, aiming to update its production technologies to boost competitiveness. The memory chip industry has enjoyed robust profits in recent quarters, in part due to...

  • SEOUL, Aug 25- SK Hynix Inc, the world's No. 2 DRAM chip maker, on Tuesday said it plans to spend 31 trillion won to build two new chip plants in South Korea, aiming to update its production technologies to boost competitiveness. The firm, which competes with rivals including Samsung Electronics Co Ltd, Micron Technology Inc and Toshiba Corp, said the plants would be...

  • WASHINGTON, Aug 24- Boeing Co on Monday told its workers that it expected to cut as many as "several hundred" jobs in its satellite business through the end of 2015 due to a downturn in U.S. military spending and delays in commercial orders. Multiple commercial orders were being delayed by recent failures of launch vehicles and uncertainties about the future...

  • HAVANA, Aug 24- Austerity measures and the restructuring of Cuba's Soviet-style economy have reduced spending on research and development by close to 50 percent over the last five years, according to a government report released last week. President Raul Castro's government has imposed strict austerity measures since he replaced his ailing brother Fidel...

  • SAN JUAN/ NEW YORK, Aug 24- Potential buyers of bonds being sold by Puerto Rico's water authority, PRASA, want stronger protections in the event the agency becomes insolvent, people close to the matter said, as the island's government tries to assure investors it does not need restructuring. PRASA's $750 million bond sale, initially slated to price last week, has...

  • BEIJING, Aug 24- A General Motors Co joint venture in China will invest 3 billion yuan to build a factory dedicated to green cars, a spokeswoman said on Monday. SAIC-GM-Wuling, a three-way joint venture with SAIC Motor Corp Ltd and Wuling Motors Holdings Ltd, began construction of the plant on Friday in the southwestern province of Guangxi. Automakers in China are...

  • WEST HARTFORD, Conn.— Connecticut- based firearms maker Colt Holding Co. is asking a bankruptcy judge to approve payments totaling $2.5 million for nine top executives. The Hartford Courant reports the bonuses would be paid if an executive is fired, resigns because of reduced pay under future owners or moves. The West Hartford- based company is trying to...

  • NEW YORK, Aug 21- Puerto Rico on Friday asked the U.S. Supreme Court to overturn a ruling that blocks the restructuring of the commonwealth's public agencies. In a petition seeking the court's review, which was provided by one of the island's lawyers, Puerto Rico said a lower court erred in concluding that U.S. bankruptcy law blocks the restructuring of the...

  • NEW YORK, Aug 21- Puerto Rico on Friday asked the U.S. Supreme Court to overturn a ruling that blocks the restructuring of the commonwealth's public agencies. In a petition seeking the court's review, which was provided by one of the island's lawyers, Puerto Rico said the lower court erred in concluding that U.S. bankruptcy law blocks the restructuring of the...

  • Merger of 2 Brunswick, Maine, hospitals approved Friday, 21 Aug 2015 | 12:30 PM ET

    BRUNSWICK, Maine— A bankruptcy judge says two Brunswick, Maine, hospitals can merge. Officials with Mid Coast Health says its purchase of Parkview Adventist Medical Center became official on Thursday. The Portland Press Herald reports the terms of the agreement call for Mid Coast to pay Parkview $3.8 million at closing and forgive $579,540 of an advance it gave...

  • Novartis buys remaining rights to GSK treatment Friday, 21 Aug 2015 | 2:34 AM ET

    Swiss drugmaker Novartis said on Friday it had agreed to buy all remaining rights to Ofatumumab from Britain's GlaxoSmithKline.

  • DuPont spinoff Chemours closing Delaware chemical plant Thursday, 20 Aug 2015 | 11:29 AM ET

    DOVER, Del.— The Chemours Co. is closing its Delaware titanium dioxide production facility, which employs about 200 workers, the former performance chemicals business spun off from the DuPont Co. said Thursday. In addition to closing the Edge Moor manufacturing site near Wilmington, Chemours is shutting down a titanium dioxide production line in New...

  • Aug 19- A federal appeals court on Wednesday refused to undo a central component of Tribune Co's bankruptcy plan in a defeat for prominent hedge fund Aurelius Capital Management LP, which claimed it was short-changed by the reorganization. By a 3-0 vote, the 3rd U.S. Circuit Court of Appeals in Philadelphia said letting Aurelius, a specialist in distressed debt,...

  • SAO PAULO, Aug 18- Brazil's OAS Investimentos SA, whose parent company is under creditor protection, has so far received five proposals for a stake in infrastructure company Invepar, with bidders also looking to buy its environment services and oil drilling units, executives said on Tuesday. In June, Reuters reported that Canadian asset manager Brookfield...

  • Aug 18- Citigroup Inc is selling its alternative investor services business to financial technology provider SS&C Technologies Holdings Inc for $425 million, subject to adjustments. Citi, the No. 3 U.S. bank by assets, has been hiving off non-core assets to focus on wealthier clients. Financial terms of the transaction are not material to the bank, Citi said in a...