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  • FDA approves Bristol-Myers drug for lung cancer Wednesday, 4 Mar 2015 | 2:22 PM ET

    WASHINGTON— The Food and Drug Administration on Wednesday expanded approval of an innovative Bristol-Myers Squibb drug to treat the most common form of lung cancer. The FDA first approved Bristol's drug in December for melanoma, the deadliest form of skin cancer. Evercore ISI analyst Mark Schoenebaum said in an investment note that Opdivo could garner sales...

  • Senator Marco Rubio, a likely Republican presidential candidate in 2016, on Wednesday unveiled a plan to reduce taxes for multinational corporations and parents, but it would widen federal budget deficits without cuts to popular health and retirement programs. The Florida senator's tax plan, introduced with Utah Republican Senator Mike Lee, would close...

  • Fed survey finds US economy growing at moderate pace Wednesday, 4 Mar 2015 | 2:01 PM ET

    The Boston district said businesses in its area remained upbeat despite a series of huge snowstorms. Fed Chair Janet Yellen delivered the central bank's semiannual economic report to Congress last week and indicated that the Fed is still willing to be "patient" in terms of raising interest rates because of weak wage growth and inflation well below the Fed's 2...

  • Technology is raising a high bar for high-end mixology Wednesday, 4 Mar 2015 | 1:42 PM ET

    Take the "Highlander," a cocktail offered at Barmini in Washington, D.C. The drink is a combination of bartender Juan Coronado's favorite highland ingredients, scotch and mezcal from Oaxaca, combined with a touch of simple syrup and served in a glass with a floating cloud of creme de cocoa, rosemary, citrus peels and dry ice. "It's quite amazing to see this floating...

  • Rubio-Lee tax plan rewards investors, parents, businesses Wednesday, 4 Mar 2015 | 12:39 PM ET

    WASHINGTON— With an eye toward a possible run for the White House, Republican Sen. To address the nation's finances, Rubio said, Congress should pair a "pro-growth" tax overhaul with significant changes to Social Security and Medicare, a stand that could draw criticism from advocates for older Americans. Mike Lee of Utah to unveil the package Wednesday.

  • WASHINGTON— The Republican-controlled Senate Wednesday voted to kill a National Labor Relations Board rule reducing the time between a union's request for representation and a vote by workers on it. But President Barack Obama has threatened to veto the measure, and the Senate's vote indicates that supporters are far from the two-thirds majority that would...

  • *China is world's second-biggest defence spender. *Aircraft carriers, submarines seen among China's priorities. BEIJING, March 4- China's defence budget this year will rise about 10 percent compared with 2014, a top government official said on Wednesday, outpacing the slowing economy as the country ramps up investment in high-tech equipment such as...

  • During an emergency call on the morning of Jan. 16, 2009, after the government had announced a $20 billion bailout for Bank of America, then-Fed Chairman Ben Bernanke declared that he was unwilling to allow "the failure of a firm the size of Bank of America." The call underscored the chaotic situation facing the Fed and other government agencies as they confronted a...

  • WASHINGTON, March 4- The United States expects a global deal to cut customs red tape and streamline import procedures to come into force this year, a senior trade official said on Wednesday. Trade Representative for World Trade Organization and Multilateral Affairs, said Washington was "pretty confident" the deal agreed in Bali in 2013 would be up and running by...

  • WASHINGTON, March 4- The U.S. Supreme Court heard arguments on Wednesday on a second major challenge to President Barack Obama's healthcare law, but no clear majority was immediately apparent in the case that takes aim at a pivotal part of the statute providing tax subsidies to help people afford insurance. A couple of dozen demonstrators from the conservative...

  • WASHINGTON— The Senate's top Republican is telling states to ignore a central part of President Barack Obama's plans to curb the pollution blamed for global warming. "Refusing to go along at this time with such an extreme proposed regulation would give the courts time to figure out if it is even legal, and it would give Congress more time to fight back.

  • March 4- Private equity firms Bain Capital LLC and Golden Gate Capital Corp are competing to acquire Ann Inc, the struggling U.S. women's retailer and owner of the Ann Taylor brand, according to people familiar with the matter. The negotiations with the buyout firms make Ann, which has a market capitalization of $1.6 billion, the latest retailer to seek a leveraged...

  • Supreme Court: Alabama may try to justify railroad tax Wednesday, 4 Mar 2015 | 10:23 AM ET

    WASHINGTON— The Supreme Court ruled Wednesday that Alabama should have the chance to justify a fuel sales tax that it assesses on railroads but not on competitors in the trucking and barge industries. Alabama officials said the tax system was fair because truckers already pay a different 19- cent per gallon tax on diesel fuel. Justice Clarence Thomas filed a...

  • WASHINGTON, March 4- The U.S. Supreme Court began hearing arguments on Wednesday on a second major legal attack on President Barack Obama's healthcare law, with conservative challengers taking aim at a pivotal part of the statute that authorizes tax subsidies to help people afford insurance. A couple of dozen demonstrators from the conservative Tea Party...

  • US services firms grow at faster pace in February Wednesday, 4 Mar 2015 | 10:10 AM ET

    WASHINGTON— U.S. services firms' activity rose at a slightly faster rate in February, powered by hotels, restaurants and wholesalers. The Institute for Supply Management said Wednesday that its services index rose to 56.9 in February, up from January's reading of 56.7. "The bottom line is that the US economy remains in good health," said Paul Dales, senior U.S....

  • Federal Reserve took a swipe on Tuesday at unlawful and unethical behavior at banks, saying it raises questions over whether the values embedded on Wall Street have improved enough in recent years. While other Fed officials and bank regulators have complained about the ethics and culture on Wall Street, the stern comments from the country's top financial...

  • WASHINGTON, March 4- The U.S. Supreme Court will consider on Wednesday a second major legal attack on President Barack Obama's healthcare law, with conservative challengers taking aim at a pivotal part of the statute that authorizes tax subsidies to help people afford insurance. If the court rules against the Obama administration, up to 7.5 million people in at...

  • Survey: US businesses add 212K jobs in February Wednesday, 4 Mar 2015 | 8:34 AM ET

    WASHINGTON— U.S. businesses added more than 200,000 jobs in February for the 13th straight month, a private survey found. It was the latest sign that strong hiring should boost the economy this year. Payroll processor ADP said Wednesday that companies added 212,000 jobs last month, a solid gain, though down from 250,000 in the previous month.

  • WASHINGTON, March 4- Republican Senators Marco Rubio and Mike Lee proposed a tax reform plan on Wednesday they said would help drive long-term growth by reducing the top corporate rate and simplifying rates for other taxpayers. Writing in the Wall Street Journal, the two conservative lawmakers said their plan would lower the maximum tax rate for companies to...

  • China's proposals, which would require tech firms to provide encryption keys and install backdoors granting law enforcement access for counterterrorism investigations, drew criticism from Obama, who told Reuters in an interview this week China would have to change the draft law if it were "to do business with the United States". Fu Ying, China's parliamentary...