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  • NEW YORK, Oct 15- U.S. stocks were down more than 1 percent in afternoon trading on Wednesday as economic data added to worries over the health of the world economy and concern increased about the spread of Ebola. The S&P 500 was on track for its sixth fall in eight sessions and is down roughly 8 percent from its Sept. 18 record closing high. The CBOE Volatility index,...

  • *Shire shares tumble as AbbVie reconsiders bid. NEW YORK, Oct 15- U.S. stocks dropped on Wednesday as economic data buttressed worries over the health of the world economy and signs emerged of slowing merger activity. Worries about a lethargic global economy weren't helped by data that showed U.S. retail sales and producer prices fell in September, while...

  • Parent company Trump Entertainment Resorts Inc has said trimming $14.6 million from its annual union pension and healthcare costs is key to save the casino from becoming the fifth to close this year in the seaside resort. Atlantic City has lost thousands of jobs this year and Trump Entertainment has warned it could be forced to begin winding down the Taj Mahal...

  • GENEVA/ WASHINGTON, Oct 14- India broke World Trade Organization rules by blocking imports of U.S. poultry and other farm products because of unsubstantiated bird flu fears, a WTO dispute panel ruled on Tuesday, potentially opening up an estimated $300 million a year export market for the United States. India had claimed its import restrictions, imposed in 2007,...

  • Oct 10- A Delaware judge said Royal Bank of Canada must pay $75.8 million in damages to former shareholders of Rural/Metro because it failed to disclose conflicts of interest that tainted the $438 million buyout of the ambulance operator. Delaware Court of Chancery Vice Chancellor Travis Laster found that the value of Rural/Metro shares were $21.42 at the...

  • Oct 10- GT Advanced Technologies Inc said it will cut 890 jobs, close an Arizona plant expected to make scratch-resistant screens for Apple Inc, and suggested it could pursue legal claims against the iPhone maker while revamping under bankruptcy. "GT believes that it has many claims against Apple arising out of its business relationship with Apple," the company...

  • Oct 10- GT Advanced Technologies Inc said it will cut 890 jobs, close an Arizona plant expected to make scratch-resistant screens for Apple Inc, and suggested it could pursue legal claims against the iPhone maker while revamping under bankruptcy. "GT believes that it has many claims against Apple arising out of its business relationship with Apple," the company...

  • ORLANDO/ LOS ANGELES, Oct 10- Darden Restaurants Inc lost its standoff with activist shareholder Starboard Value LP at its annual meeting on Friday, when stakeholders tossed out the Olive Garden parent's entire board in a rare victory for dissident investors. It also is a stinging defeat for Darden, which earlier this year alienated many investors by brushing...

  • Oct 7- An affiliate of Brookfield Asset Management got court approval to buy Atlantic City, New Jersey's shuttered Revel Casino Hotel for $110 million in cash on Tuesday after a judge rejected complaints the auction for the bankrupt complex was tainted. "I have heard evidence to satisfy me that the sale to Brookfield should be confirmed," said U.S. Bankruptcy...

  • Oct 7- An affiliate of Brookfield Asset Management on Tuesday got court approval to buy Atlantic City, New Jersey's shuttered Revel Casino Hotel for $110 million in cash after a judge rejected complaints the auction for the bankrupt complex was tainted. The losing bidder, Glenn Straub of Florida, objected because he said the auction was unfair.

  • NEW YORK, Oct 6- Creditors of bankrupt wireless company LightSquared and the company's owner, Harbinger Capital Partners, will once again try to reach a mediated restructuring deal after a judge raised the prospect of converting the case to a Chapter 7 liquidation. With a deadline for confirming a plan just weeks away, Harbinger and two creditors, MAST Capital...

  • Oct 3- The Trump Taj Mahal casino failed on Friday to get immediate court approval to end its union pension obligations, a key condition for a $100 million rescue plan backed by billionaire investor Carl Icahn. The setback may be only temporary for Trump Entertainment Resorts Inc, bankrupt owner of the Taj Mahal. Bankruptcy Judge Kevin Gross in Wilmington,...

  • Oct 3- Trump Taj Mahal failed on Friday to get approval from a U.S. Bankruptcy judge to end payments to the casino's union pension fund, which had been a key condition for a Carl Icahn- backed deal to rescue the gambling complex in Atlantic City, New Jersey. Bankruptcy Judge Kevin Gross in Wilmington, Delaware, said he lacked authority to allow Trump Entertainment...

  • WASHINGTON, Oct 2- Taking up a case closely watched by banks and insurance companies, the U.S. Supreme Court agreed on Thursday to decide whether federal housing law permits racial bias claims based on seemingly neutral practices that may have a discriminatory effect. The nine justices will consider whether the state of Texas violated the Fair Housing Act by...

  • Oct 1- A federal jury on Wednesday said Philips Electronics NA should pay $466.8 million to Masimo Corp for having infringed two patents for technology used to help measure blood oxygen and track pulse rates. Shares of Masimo closed 12.9 percent higher, rising $2.74 to $24.02 on the Nasdaq. Jurors in Wilmington, Delaware needed less than a day of deliberations...

  • Oct 1- A federal jury on Wednesday said Philips Electronics NA should pay $466.8 million to Masimo Corp for having infringed two patents for technology used to help measure blood oxygen and track pulse rates. Shares of Masimo closed 12.9 percent higher, rising $2.74 to $24.02 on the Nasdaq. Jurors in Wilmington, Delaware needed less than a day of deliberations...

  • Oct 1- A former executive at GSI Commerce Inc was sentenced on Wednesday to 15 months in prison for insider trading related to the 2011 takeover of the e-commerce company by online retailer eBay Inc..

  • Oct 1- An affiliate of Brookfield Asset Management won the auction for Atlantic City, New Jersey's bankrupt Revel Casino Hotel with a $110 million bid, but within hours the losing bidder told Reuters he planned to fight the sale. Asked if he would challenge the auction result in court, Florida developer Glenn Straub told Reuters by phone: "absolutely."

  • Oct 1- An affiliate of Brookfield Asset Management won the auction for Atlantic City, New Jersey's bankrupt Revel Casino Hotel with a $110 million bid, but within hours the losing bidder told Reuters he planned to fight the sale in court. Asked if he would challenge the auction result in court, Florida developer Glenn Straub told Reuters by phone: "absolutely."

  • Oct 1- Brookfield Asset Management won the auction for Atlantic City's bankrupt Revel Casino Hotel with a $110 million bid, said two sources familiar with the situation. Revel Casino, which cost $2.4 billion to build, opened in 2012 and closed on Sept. 2 after filing for its second bankruptcy in June.