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  • NEW YORK/ LONDON, May 20- Citigroup Inc and JPMorgan Morgan Chase& Co are receiving regulatory waivers to allow them to continue to quickly issue new securities and continue doing business with mutual funds and exchange-traded funds, according to two people familiar with the matter. Barclays Plc, another bank that agreed to plead guilty on Wednesday to U.S....

  • NY cuts red tape in pesticide regulations for farmers Wednesday, 20 May 2015 | 12:47 PM ET

    ALBANY, N.Y.— The Cuomo administration is cutting some red tape to make it easier for farmers to comply with pesticide regulations. The changes came out of a new Task Force on Lessening Obstacles to Agriculture, which is made up of state agency officials and representatives from the agriculture industry. Jeff Williams of the New York Farm Bureau said the new task...

  • Utility regulators keep wind power negotiations alive Wednesday, 20 May 2015 | 12:34 PM ET

    AUGUSTA, Maine— Utility regulators moved one step closer Wednesday to entering into a long-term contract with developers hoping to sell power generated by a wind project in Somerset County. The Maine Public Utilities Commission voted 2-1 to modify and approve the terms of an agreement with NextEra Energy Resources LLC to ensure that the state is getting the...

  • NEW YORK, May 20- U.S. healthcare conglomerate Johnson& Johnson said on Wednesday it expects to submit more than 10 new medicines with annual revenue potential of at least $1 billion each to regulators by 2019, and is testing dozens of new uses for existing medicines. J&J said it would file for approval of the experimental drug daratumumab for the blood cancer...

  • J&J says will submit 10 medicines to regulators by 2019 Wednesday, 20 May 2015 | 9:20 AM ET

    NEW YORK, May 20- Drugmaker Johnson& Johnson said on Wednesday that it would submit 10 new medicines to regulators by 2019, forecasting that many of the drugs in its research and development pipeline will have more than $1 billion in peak annual sales. J&J said that it would submit experimental cancer drug daratumumab for use in double refractory multiple...

  • May 20- Drug developer Lpath Inc said it would cut jobs and costs after its experimental eye drug failed a mid-stage study in patients with wet age-related macular degeneration, a leading cause of blindness in the elderly. Lpath, which had about 25 employees as of March 1, according to a regulatory filing, also said it would re-evaluate its research and...

  • HONG KONG, May 20- China's Hanergy Thin Film Power Group is under investigation by Hong Kong's market watchdog, a source told Reuters just hours after the company lost half its market value of nearly $40 billion in 24 minutes on Wednesday. A source familiar with the situation later said Hanergy had been under investigation for several weeks by Hong Kong's...

  • HONG KONG, May 20- Chinese green energy firm Hanergy, whose shares plunged nearly 50 percent on Wednesday, is under investigation by Hong Kong's market watchdog for alleged market manipulation, a source familiar with the situation told Reuters. The source said the Securities and Futures Commission had been investigating Hanergy Thin Film Power Group for...

  • Community banks whose customers include small businesses are at a disadvantage because of regulations under the Dodd-Frank Act implemented following the 2008 banking crisis, says Jim Angleton, owner of Aegis FinServ, a Miami- based financial services company. The number of small banks in the U.S. dropped 14 percent after Dodd-Frank was enacted in 2010,...

  • Wednesday's settlement with the U.S. Department of Justice, the Federal Reserve, and the Connecticut Department of Banking follows a settlement UBS reached six months ago with Swiss financial regulator FINMA, which included a fine and bonus curbs. "The conduct of a small number of employees was unacceptable and we have taken appropriate disciplinary actions,"...

  • Japan approves third nuclear plant for restart Tuesday, 19 May 2015 | 10:33 PM ET

    TOKYO, May 20- Japan's nuclear regulator signed off on the basic safety of a reactor at a third nuclear plant on Wednesday, as the country inches toward rebooting its atomic industry more than four years after the 2011 Fukushima disaster. The decision will be a boost for operator Shikoku Electric Power Co, which relied on its sole Ikata nuclear power station in...

  • WASHINGTON, May 19- Yahoo Inc shares fell 7.6 percent on Tuesday on concerns that a possible change in U.S. tax regulations would affect Yahoo's planned spinoff of its stake in Alibaba Group Holding Ltd.. The change- discussed by a U.S. Internal Revenue Service official in Washington- could complicate the plan announced by Yahoo in January to spin off its 15...

  • May 19- UBS AG must buy back an investor's Puerto Rico bond fund portfolio for $1 million, securities arbitrators ruled on Tuesday in a rare, lengthy rebuke of the firm's sales practices on the Caribbean island. A Financial Industry Regulatory Authority arbitration panel in San Juan found two UBS units liable to the investor, Juan Burgos Rosado, whose losses in...

  • Models covered by expanded Takata air bag recall Tuesday, 19 May 2015 | 7:52 PM ET

    Japanese air bag maker Takata Corp. bowed to pressure from U.S. safety regulators Tuesday and agreed to declare 33.8 million air bags defective. Here are the models from previous recalls affected by the expansion, which vaults the Takata recall crisis into the largest automotive recall in U.S. history:. Models are preliminary and scope of recall subject to...

  • NEW YORK, May 19- A federal judge said on Tuesday he would not approve a proposed $50 million settlement between the Consumer Financial Protection Bureau and Sprint Corp over claims the mobile carrier added unauthorized charges to phone bills unless the two sides provide additional details about its fairness. The proposed agreement is part of a broader deal...

  • WASHINGTON, May 19- Shares in Yahoo Inc fell 7.6 percent on Tuesday, as the stock sold off dramatically in the last 20 minutes of the trading day on worries that a potential change in U.S. tax regulations would affect Yahoo's expected spinoff of its stake in Alibaba Group Holding Ltd. The potential change, which Bloomberg reported that an Internal Revenue Service...

  • WILMINGTON, Del., May 19- The bankruptcy of Corinthian Colleges Inc, one of the biggest for-profit college chains, has set off a scramble to find a way to wipe away billions of dollars of student loans for those who attended its campuses. The groups, including the National Consumer Law Center, said the Department of Education had the authority because Corinthian...

  • Achillion partners with J&J to develop hep C drugs Tuesday, 19 May 2015 | 4:29 PM ET

    May 19- Achillion Pharmaceuticals Inc said it will collaborate with Johnson& Johnson to develop and market one or more of its hepatitis C drugs. Achillion will be eligible for milestone payments of up to $1.1 billion related to the development, regulatory approval and sales of the drugs. Johnson& Johnson will also invest $225 million in Achillion in return for...

  • WASHINGTON/ DETROIT, May 19- Japanese air bag manufacturer Takata Corp is doubling a recall of air bags to nearly 34 million vehicles, creating the largest automotive recall in American history, U.S. safety regulators said on Tuesday. The recall, which still does not identify the cause of the problem, involves passenger and driver-side air bags in vehicles made by...

  • WASHINGTON/ DETROIT, May 19- Japanese air bag manufacturer Takata Corp has agreed to declare nearly 34 million vehicles defective due to problems with air bag inflators, creating the largest automotive recall in American history, U.S. safety regulators said on Tuesday. Transportation Secretary Anthony Foxx said NHTSA also issued a consent order to Takata,...