Kunal Bahl, CEO of Snapdeal, says the company is not selling to anyone after speculation that Alibaba is in talks to make an investment in the Indian company.» Read More
Oct 12- CVS Caremark Corp said on Friday it has not been contacted by the U.S. government regarding alleged claims the drugstore chain refilled prescriptions and sought reimbursement for them without the approval of patients.
GENEVA, Oct 12- West African crude oil differentials were assessed slightly lower on Friday as traders reported slow sales for the remaining November cargoes due partly to Chinese refinery outages.
Oct 12- Lexicon Pharmaceuticals Inc said its experimental bowel disorder drug met the main goal of reducing bowel movements in patients with gastrointestinal cancer in a mid-stage study, sending its shares up as much as 13 percent on Friday. However, Morningstar analyst Karen Andersen said the drug could now be potentially used as a first-line therapy.
Oct 12- Nationwide Mutual Insurance Co said it will pay $26 million to settle a class action and derivative lawsuit related to its $760 million acquisition of Harleysville Mutual. The litigation brought on behalf of former Harleysville Mutual policyholders claimed that Harleysville's directors enriched themselves as part of the merger.
BRUSSELS, Oct 12- China has expressed concerns about a potential EU investigation of telecom equipment makers Huawei and ZTE Corp over illegal subsidies, a European Commission official said on Friday.
Oct 12- Eastman Kodak Co said it will begin discussions with various creditor groups on a reorganization plan to emerge from bankruptcy protection. Kodak said there is interest from various parties in its commercial imaging business and interest among several potential lenders to finance the business.
Oct 12- Shares of LinnCo LLC, a company set up to buy a stake in U.S. oil and gas producer Linn Energy LLC, rose as much as 3 percent on their debut, a day after the company priced its offering at $36.50 per share.
NEW DELHI, Oct 12- India's debt-laden Kingfisher Airlines will keep its flights grounded until Oct. 20, the carrier, owned by billionaire Vijay Mallya, said on Friday. Kingfisher, once India's second-biggest airline, grounded its flights since the start of the month after an employee protest turned violent.
Oct 12- Eastman Kodak Co said it will begin discussions with various creditor groups on a reorganization plan to emerge from bankruptcy protection. Kodak said the global August employee count will be reduced by 1,500.. The case is In re: Eastman Kodak Co et al, U.S. Bankruptcy Court, Southern District of New York, No. 12-10202..
WASHINGTON-- Anyone who paid attention to a hearing in Congress this week knew that the administration had been implored to beef up security at the U.S. Consulate in Libya before the deadly terrorist attack there. But in the vice presidential debate Thursday night, Joe Biden seemed unaware.
Oct 12- U.S. drug reviewers found three serious concerns related to NPS Pharmaceuticals Inc's experimental drug for short bowel syndrome, but said they did not think the drug needed to be restricted for safety reasons, according to documents posted by the Food and Drug Administration on its website Friday.
MUMBAI, Oct 12- Indian shares snapped a five-week streak of gains on Friday as bellwether Infosys Ltd. Worries that India would post high inflation data on Monday and erode prospects of interest rates cut from the central bank at the end of the month hit financial stocks such as ICICI Bank.
NEW YORK-- The Coca-Cola Co. should give investors a snapshot of the ever-shifting geographic and product mixes that are fueling growth for the world's biggest beverage maker when it reports its third quarter results Tuesday. WHY IT MATTERS: Coca-Cola sells its products in nearly every corner of the globe _ Cuba and North Korea are the exceptions.
*Auto makers, including Maruti Suzuki and Mahindra& Mahindra. KEY EVENTS Mon: Sept. inflation data Mon: Reliance Industries, Axis Bank earnings. Mon: Australian Prime Minister Julia Gillard visits India Tues: Maruti Suzuki.
MUMBAI, Oct 12- India's foreign exchange reserves. rose to $295.04 billion as of Oct. 5 from $294.81 billion in the previous week, the central bank said in its weekly statistical supplement on Friday. Foreign exchange reserves include India's Reserve Tranche position in the International Monetary Fund.
The differential was assessed $1.10 higher at a premium of $1.50 a tonne above Singapore spot quotes, highest since Oct. 3, according to Reuters data. Low offers placed by Shell resulted in three 180- cst deals during the physical trading window, which were done at parity to a premium of 50 cents a tonne above Singapore spot quotes.
*Investors consolidate; $1,760/ 50 seen as support level* U.S. producer prices rise in September* China, India demand falls By Clare Hutchison.
SINGAPORE, Oct 12- The Asian naphtha price and margins ended the week at a three-session low of $985 a tonne and $123.03 a tonne respectively to mirror the fall in European values as gasoline demand softened. "The fall in margins today was a reflection of the gasoline market in Europe," said a Singapore- based trader.
MUMBAI, Oct 12- India aims to divest stakes in state-owned companies Oil India Ltd, Hindustan Copper Ltd and National Aluminium Co Ltd by November, the official in charge of the government's divestment programme said on Friday. Haleem Khan, secretary at the department of divestment, said.
India's Essar Oil has offered its first November loading cargo which will make it the company's fifth diesel export in two years.