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  • *Shire shares tumble as AbbVie reconsiders bid. Aside from concerns about the global economy, Chicago- based AbbVie said it was reconsidering its $55 billion takeover of the company weeks after the U.S. government moved to curb deals designed to reduce tax, throwing the vitality of merger and acquisition activity into doubt. U.S.-listed shares of Shire tumbled...

  • Indiana police: Megabus crashes, 18 injured Wednesday, 15 Oct 2014 | 8:12 AM ET

    INDIANAPOLIS— A double-decker passenger bus flipped onto its side on a highway in suburban Indianapolis on Tuesday after striking a crashed car, leaving 18 people with mostly minor injuries, police said. The bus, operated by Megabus, was traveling from Atlanta to Chicago, said Sean Hughes, spokesman for the line's parent company, Coach USA North America.

  • *Bank of America gains in premarket after results. *Shire shares tumble as AbbVie reconsiders bid. Bank of America shares were up 1.1 percent to $16.70 in premarket after posting its third-quarter results.

  • LONDON, Oct 15- London- listed pharmaceutical firm Shire plc said it believed U.S. suitor AbbVie should proceed with its $55 billion takeover despite a change to U.S. regulations which curbed the tax benefits of the tie-up. Chicago- based AbbVie said on Wednesday it would reconsider a recommendation to its shareholders to back the Shire takeover.

  • AbbVie says it reconsidering deal with Shire Tuesday, 14 Oct 2014 | 9:35 PM ET

    CHICAGO— The drugmaker AbbVie said Tuesday it is having second thoughts about its deal to combine with British counterpart Shire after the U.S. government created new limitations on the tax benefits of incorporating overseas. North Chicago, Illinois- based AbbVie Inc. said it notified Shire that its board intends to reconsider the recommendation it made in...

  • Oct 14- AbbVie Inc said it intends to reconsider its recommendation to its shareholders to vote in favor of the 32 billion pound merger with Shire Plc due to the changing U.S. tax regulations. Chicago- based AbbVie, which makes top-selling arthritis drug Humira, is eager to buy Shire to reduce its U.S. tax bill by moving its tax base to Britain and to diversifying its...

  • DETROIT, Oct 14- A settlement with Financial Guaranty Insurance Co, the last major holdout creditor in Detroit's historic bankruptcy case, is close and could be announced on Thursday, attorneys said on Tuesday. Detroit's attorney, Thomas Cullen at law firm Jones Day, told U.S. FGIC, which has $1.1 billion on the line from insuring Detroit pension debt, is facing the...

  • CHICAGO, Oct 14- CME Group Inc plans to cut 5 percent of its global workforce, or about 150 jobs, to reduce costs with most cuts hitting its technology operations, the world's largest futures exchange operator said on Tuesday. CME declined to detail how much money the staff reductions will save the company, which owns the Chicago Board of Trade and New York...

  • Estimate for demand for OPEC crude cut by 200,000 bpd. The abrupt acceleration of an over 26 percent slide in prices since June was triggered by three news items that epitomized the market's turn: a downgrade in global oil consumption forecasts; projections for another big boost in shale oil; and reluctance by OPEC members to cut output. Brent crude for November...

  • Estimate for demand for OPEC crude cut by 200,000 bpd. Adding to the bearish tone on Tuesday, a source familiar with oil policy in Iran, normally one of the first in OPEC to call for production cuts, followed Kuwait in saying there was no need to rein in supplies. Brent crude for November, which expires on Thursday, fell $2.65 a barrel to $86.24 after briefly dipping...

  • Canada worker, hog shortages leave industry squealing Tuesday, 14 Oct 2014 | 1:56 PM ET

    Farmers in Canada, the world's third-biggest pork shipper, are also bracing for the spread of a deadly virus that has killed millions of piglets in the United States. Further dwindling of Canadian supplies would especially reverberate in the United States, which relies on young Canadian pigs for fattening and slaughter, and in markets as far away as Japan and...

  • *Estimate for demand for OPEC crude cut by 200,000 bpd. Adding to the bearish tone on Tuesday, a source familiar with oil policy in Iran, normally one of the first in OPEC to call for production cuts, followed Kuwait in saying there was no need to rein in supplies. The International Energy Agency, which advises industrialized countries on energy policy, cut its...

  • CHICAGO, Oct 14- CME Group Inc plans to eliminate 5 percent of its global workforce, or about 150 jobs, with most cuts hitting its Chicago headquarters, the world's largest futures exchange operator said on Tuesday. A spokeswoman declined to say how much money the cost cuts will save at CME, which owns the Chicago Board of Trade and New York Mercantile Exchange.

  • Google expands shopping delivery service in U.S. Tuesday, 14 Oct 2014 | 1:18 PM ET

    Oct 14- Google Inc said it would expand its same-day shopping delivery service to three new U.S. cities and start charging customers for the service, which competes with Amazon.com Inc.. The Google Express service, which was earlier only available in certain parts of California and New York City, will be expanded to Boston, Chicago, and Washington D.C., Google said...

  • Correction: Nice Airlines Unprofitable story Tuesday, 14 Oct 2014 | 12:15 PM ET

    NEW YORK— In a story Oct. 8 about Virgin America, The Associated Press reported erroneously that the company lost $9.4 million in the first six months of this year. Virgin America, a passenger favorite, might have to change its ways to please Wall Street. NEW YORK— Passengers cherish Virgin America for its mood lighting, live TV, fancy cocktails and friendly flight...

  • *Estimate for demand for OPEC crude cut by 200,000 bpd. The International Energy Agency said on Tuesday world oil demand growth would be much weaker than previously expected and raised questions about OPEC's willingness to rein in supplies, suggesting oil prices may drop further. Brent crude fell $2.72 a barrel to $86.17, its weakest point since December 2010,...

  • CME Group to cut 5 percent of global workforce Tuesday, 14 Oct 2014 | 11:23 AM ET

    CHICAGO, Oct 14- CME Group Inc plans to cut 5 percent of its global workforce, or about 150 jobs, the world's largest futures exchange operator said on Tuesday. Most of the layoffs will come from CME's technology operations, with the rest coming from corporate and administration functions, the Chicago- based company said. CME, which owns the Chicago Board of Trade and...

  • Grain mixed, livestock lower Tuesday, 14 Oct 2014 | 10:50 AM ET

    CHICAGO— Grain futures were mixed Tuesday in early trading on the Chicago Board of Trade. Wheat for Dec delivery was unchanged at $5.0525 a bushel; Dec corn was 1.25 cents higher at $3.4475 a bushel; Dec oats were unchanged at $3.4475 a bushel; while Nov soybeans gained 2.75 cents at $9.48 a bushel. Dec live cattle was 1.03 cents lower at $1.6567 pound; Nov feeder...

  • Ebola screening starts Thursday at 4 US airports Tuesday, 14 Oct 2014 | 10:33 AM ET

    NEWARK, New Jersey— Customs and health officials at airports in Washington, Chicago, Atlanta and Newark will take the temperatures of passengers from three West African countries starting Thursday. The Centers for Disease Control and Prevention said Tuesday that screenings will start Thursday at Washington Dulles, Chicago O'Hare, Newark's Liberty and...

  • CME Group eliminating about 150 jobs Tuesday, 14 Oct 2014 | 9:46 AM ET

    CHICAGO— CME Group said Tuesday that it is eliminating approximately 150 jobs— or about 5 percent of its global workforce— as part of restructuring efforts. The parent company of the Chicago Board of Trade and other exchanges said that most of the job cuts will come from technology, with the rest from corporate and administrative functions.