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*Case pits Arkansas commission against U.S. Army Corps. WASHINGTON, Oct 3- The U.S. Supreme Court heard oral arguments on Wednesday in a case about the degree to which the federal government must pay damages when it releases water from a dam that causes temporary flooding for a property owner downstream.
*September sales down 21 pct in Toronto. TORONTO, Oct 3- Canada's post-recession property boom is displaying fresh signs of weakness, impeded by recent government mortgage-rule changes, with sales volumes dropping even as average prices rise, industry reports released on Wednesday showed.
NEW YORK-- Thoratec Corp. shares rose Wednesday after a UBS analyst upgraded the stock, saying he is more confident in the heart device maker's growth prospects. THE SPARK: Analyst Rajeev Jashnani raised his rating on Thoratec shares to "Buy" from "Neutral," and increased his price target to $39 per share from $35.
CLEVELAND-- TransDigm Group Inc. said Wednesday it has asked lenders to increase its credit facility so that it can pay its shareholders a special dividend. The Cleveland- based aircraft parts maker said it is considering paying between $400 and $850 million to shareholders before the end of the year, using funds from the possible new debt financing.
MARSHALL, Mich.-- The U.S. Environmental Protection Agency on Wednesday told Enbridge Inc. that the pipeline company's massive 2010 oil spill in the Kalamazoo River system requires more cleanup work. The agency says it informed Enbridge more work is need upstream from the Ceresco and Battle Creek dams and Morrow Lake.
ALBANY, N.Y.-- A state judge invalidated Binghamton's two-year moratorium on natural gas drilling, marking the first time a local law that would ban or delay hydraulic fracturing in New York has been struck down.
WASHINGTON-- Washington's Pennsylvania Avenue, sometimes called "America's Main Street," is being listed among the nation's endangered landscapes because of neglect and deferred maintenance by the National Park Service.
*Benchmark euro interbank rates hit record lows. ADVISORY- Reuters plans to discontinue its daily report on the money markets in New York as of Oct. 15.
Light synthetic crude for November delivery last sold for $9.75 a barrel over benchmark West Texas Intermediate, compared with $12 a barrel over WTI on Tuesday, according to Shorcan Energy Brokers. November Western Canada Select heavy blend was quoted at $11 a barrel under WTI, an 80- cent wider discount than on Tuesday.
Discussing the upcoming elections, and how the markets could react to a Romney or an Obama win, with Peter Boockvar, Miller Tabak, and Art Hogan, Lazard Capital Markets.
*Illumina machine turns around diagnosis in two days in pilot study. Stephen Kingsmore, director of the Center for Pediatric Genomic Medicine at Children's Mercy medical center in Kansas City, Missouri, whose study was published in the journal Science Translational Medicine.
Union negotiators say workers and Connecticut Light& Power are still far apart on staffing and overtime issues and rejection of the proposed four-year agreement will automatically authorize a strike, though a work stoppage is by no means certain.
LOS ANGELES-- Netflix Inc. shares rose Wednesday after an analyst said customer satisfaction is on the rise following the price hike last year that irked subscribers. Internet users, including about half that either had a Netflix subscription or are currently subscribers.
SEATTLE-- Alaska Airlines' parent company said Wednesday that its traffic rose 5.1 percent last month as its number of available seats grew. Alaska, which is run by Alaska Air Group Inc., reported a 5 percent increase in capacity compared with a year earlier. Alaska Air Group shares rose 88 cents, or 2.5 percent, to $36.56 in afternoon trading.
NEW YORK-- Best Buy Co.' s shares climbed Wednesday because of a report indicating that its founder and former chairman Richard Schulze is making some headway with his potential buyout offer of the electronics retailer.
ST. PAUL, Minn.-- Office products maker 3 M Co. on Wednesday announced a reorganization that reduces the number of its major business segments to five from six. St. Paul, Minn.- based 3 M said that under its new structure its business segments will be consumer, industrial and health care, along with its newly formed safety& graphics and electronics& energy divisions.
Oil firm Surgut was believed to have awarded its tender for three cargoes from the Baltic port of Primork to Shell, Repsol and Litasco with prices of the prompt cargo pegged at around dated Brent minus $1.7 per barrel. Later cargoes were believed to be sold at dated Brent minus $1.50, some 20 cents stronger than prices earlier this week.
* "In Sunlight and In Shadow" focuses on old New York. NEW YORK, Oct 3- Listening to novelist and political commentator Mark Helprin recount his life is a bit like listening to Forrest Gump- an eloquent, New York- born Forrest Gump. It matches his previous novels in scope and length and carries on the author's fascination with old New York.
U.S. stocks advanced on Wednesday after stronger-than-expected employment and service-sector data in the United States. But a gloomier outlook in China and Europe weighed on commodity prices and hit energy and materials shares. **SAREPTA THERAPEUTICS INC, $41.60, up 177 pct.
Oct 3- The outbreak of West Nile virus that has hit Texas and other states remains on pace to make 2012 the second-worst year on record for the disease in the United States, with another 424 cases and 16 deaths reported last week, government figures showed on Wednesday.