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  • LONDON, June 2- U.S. refineries are processing the lightest cocktail of crudes for almost a quarter of a century, as they run out of room to switch light imported oils with domestic shale production. In March, U.S. refineries processed crude with an average gravity of 31.95 degrees API, the lightest combination since April 1991, according to data from the U.S. Energy...

  • LONDON/ BONN, June 2- A global carbon emissions pricing system pushed by top energy companies is unlikely to be a big part of any United Nations' deal to curb global warming, some experts say, because many countries have little faith in such cross-border initiatives. "All countries are relatively skeptical on international market mechanisms," said Niklas Hoehne,...

  • *Juno jumps on report of AstraZeneca interest. June 2- U.S. stocks were lower in late morning trading, paring some of their losses earlier in the session, as weak factory orders data and bearish comments from a Federal Reserve board member allayed fears of a rate hike coming sooner rather than later. "Interest rates are not going to matter if they're rising because of...

  • *Investors believe HSBC bosses need to announce bold moves. LONDON, June 2- No longer feared as "too big to fail", shareholders are weighing whether HSBC is now "too big to succeed", and want to know next week how the bank's bosses propose to increase profitability at a sprawling group beset by huge costs. "This investor day is potentially a very significant event," said...

  • June 2- AstraZeneca Plc would consider buying a company such as Juno Therapeutics Inc, Bloomberg reported AstraZeneca's CEO as saying, according to StreetInsider. AstraZeneca and Juno already have a collaboration agreement to test one of AstraZeneca's cancer drugs in combination with Juno's CAR-T cell therapy, which is considered to be a breakthrough in...

  • June 2- Wal-Mart Stores Inc will raise minimum wages for more than 100,000 of its U.S. workers in some departments from July, the second time the world's largest retailer has announced a wage hike this year. Wal-Mart, the largest private employer in the United States with 1.3 million U.S. workers, has been targeted by labor groups in the past for its minimum wages.

  • *Sell-off in Europe bond market weighs on U.S. NEW YORK, June 2- U.S. long-dated Treasury debt yields rose to two-week highs on Tuesday, drawing support from an inflation data-related rise in European yields and overall optimism about Friday's U.S. non-farm payrolls report. "This is a European-driven sell-off, with a U.S. market looking ahead to this Friday's...

  • PHILADELPHIA— Federal investigators say they still don't know if the engineer involved in a deadly Amtrak crash in Philadelphia was on his cellphone before the speeding train derailed. The National Transportation Safety Board's preliminary report released Tuesday says it also remains unclear if damage to the windshield was caused by the wreck or an...

  • FDA panel to discuss Lilly's lung cancer drug approval Tuesday, 2 Jun 2015 | 11:10 AM ET

    June 2- The U.S. Food and Drug Administration said a panel of experts would discuss a marketing application from Eli Lilly& Co on a new targeted lung cancer treatment. The FDA said the panel would review data that showed improved overall survival rate in lung cancer patients treated with a combination of Lilly's experimental drug, necitumumab, and chemotherapy...

  • Greece casts shadow as ECB gauges strength of recovery Tuesday, 2 Jun 2015 | 11:07 AM ET

    Talks aimed at unlocking more bailout money for Greece have dragged on, even as Athens runs dangerously short of money and faces a possible default that could disrupt markets and lead to a messy departure from the 19- country euro. Greece faces four repayments to the International Monetary Fund in June, starting with just over 300 million euros due Friday.

  • Greece's creditors are close to finishing a draft agreement to put to the leftist government in Athens, a source close to the talks said on Tuesday, injecting new momentum into long-running negotiations to release aid for the cash-strapped country. Yannis Stournaras, the head of the Greek central bank, said an agreement between Athens and its creditors from...

  • Representative Fred Upton, the Republican chairman of the House of Representatives' energy panel, on Tuesday said he favors lifting the 40- year-old U.S. oil export ban. "Oil exports can be a win for the American people and a win for our allies," Upton said. His backing could boost support for a bill in the House to overturn the trade restriction Congress enacted in the...

  • *Factory orders fall 0.4 percent in April. WASHINGTON, June 2- New orders for U.S. factory goods unexpectedly fell in April as demand for transportation equipment and a range of other goods weakened, suggesting that manufacturing remained constrained by a strong dollar and spending cuts in the energy sector. New orders for manufactured goods slipped 0.4...

  • NEW YORK— Men's Wearhouse founder George Zimmer, who was ousted from the suit retailer two years ago, still wants you to "like the way you look." Zimmer was abruptly fired as executive chairman of Men's Wearhouse Inc. in 2013, about 40 years after founding the company. Scott Silverstein, a former president at a Men's Wearhouse subsidiary, will run the day-to-day...

  • *Hopes for Greece deal with creditors lifts euro. NEW YORK, June 2- The euro strengthened against the U.S. dollar, which was on track on Tuesday to post its biggest one-day loss against the single currency since mid-March, on expectations that Greece would reach a deal with its creditors. "It's certainly my expectation that within the next two days you're going to see...

  • In contrast to census data on how many people with disabilities hold jobs, the survey being released Wednesday by the Kessler Foundation goes further by exploring the experience of finding and keeping a job. There was always this sense of doom and gloom, "said Andrew Houtenville, director of research at the University of New Hampshire Institute of Disability.

  • LONDON, June 2- The chief executive of Aberdeen Asset Management, Martin Gilbert, said on Tuesday the bond market posed a systemic risk as and when interest rates rise, although he still hoped it would be a "damp squib". Gilbert also touched on several other leading sector topics including the potential impact on the industry should Britain vote to leave the...

  • June 2- AstraZeneca Plc would consider buying a company such as Juno Therapeutics Inc, Bloomberg reported AstraZeneca's CEO as saying, according to StreetInsider. The companies were not immediately available to comment. Juno is one among the few companies that are developing a new class of immuno-oncology treatments called CAR-T cell therapies.

  • Grain higher, livestock lower Tuesday, 2 Jun 2015 | 10:54 AM ET

    CHICAGO— Grain futures were higher Tuesday in early trading on the Chicago Board of Trade. Wheat for July delivery gained 4 cents to $4.9775 a bushel; July corn was 4.75 cents higher at $3.57 a bushel; July oats were unchanged at $2.4450 a bushel; while July soybeans rose 12.50 cents to 9.3850 a bushel. August live cattle was. 15 cent lower at $1.52 a pound; August feeder...

  • WASHINGTON, June 2- The U.S. economy's recent poor performance may be more than transitory, as the full impact of weak consumer spending, low investment and a strong dollar become apparent, Federal Reserve board member Lael Brainard said on Tuesday. Most, including Fed Chair Janet Yellen, have insisted that a rate hike remains in the cards this year as the economy...