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  • WASHINGTON, June 6- Pharmaceutical companies Genentech and OSI Pharmaceuticals LLC will pay $67 million to resolve allegations they made misleading statements about the effectiveness of lung cancer drug Tarceva, the U.S. Justice Department said on Monday. As a part of the settlement, the federal government will get $62.6 million and state Medicaid programs...

  • VANCOUVER, June 6- A weaker economy in Kyrgyzstan is to blame for the Central Asian state "turning up the heat" on Centerra Gold Inc in recent weeks as the country guns for a bigger slice of the miner's profits, Centerra's chief executive said on Monday. In the past five weeks, the Canadian gold miner has, amongst others, been fined around $100 million for environmental...

  • June 6- Sumner Redstone's National Amusements Inc amended the bylaws of Viacom Inc to require unanimous approval from Viacom's board for any deal related to Paramount Pictures, creating a new hurdle for Chief Executive Philippe Dauman's plan to sell a stake in the movie studio. Dauman is trying to sell a minority stake in Paramount, and has said he expects to...

  • June 6- Sarepta Therapeutics Inc said the U.S. Food and Drug Administration has requested for additional data for its muscle-wasting treatment as the agency decides whether to approve the drug or not. The FDA deferred a highly anticipated decision on whether to approve Sarepta's drug, eteplirsen, last month, after an advisory panel determined that the...

  • June 6- Sarepta Therapeutics Inc said the U.S. Food and Drug Administration has requested for additional data for its muscle-wasting treatment as the agency decides whether to approve the drug or not. The FDA deferred a highly anticipated decision on whether to approve Sarepta's drug, eteplirsen, last month, after an advisory panel determined that the...

  • June 6- Alexion Pharmaceuticals Inc said its drug Soliris, already approved in the United States for the treatment of two rare blood disorders, missed its primary goal in a late-stage trial. Shares were trading down 11 percent at $138.71 in extended trade. Soliris had sales of $2.59 billion in 2015..

  • BRUSSELS, June 6- EU nations refused to back a limited extension of the herbicide glyphosate's use on Monday, threatening withdrawal of Monsanto's Roundup and other weed-killers from shelves if no decision is reached by the end of the month. The EU executive had offered a 12- to 18- month extension to allow time for further scientific study by the European...

  • NEW YORK, June 6- Sumner Redstone's National Amusements Inc said on Monday that it had amended Viacom Inc's bylaws to require majority approval by Viacom's board for any deal related to Paramount Pictures. The change, which is effective immediately, was made "to protect long-term interests of stockholders," National Amusements said in a news release.

  • NEW YORK, June 6- Oil prices rose for a third straight day on Monday, as crippling attacks on Nigeria's oil industry and fresh draws in U.S. crude stockpiles boosted prices even though gains were pared later on renewed expectations of a U.S. interest rate hike. Prices rose as industry sources said output of Nigeria's Bonny Light crude had fallen an estimated...

  • *Depressed oil prices have hit Angola hard. LUANDA, June 6- Isabel dos Santos, the billionaire daughter of Angolan President Jose Eduardo dos Santos, pledged a root and branch overhaul of state oil firm Sonangol on Monday to improve its efficiency and margins to offset the "huge" impact of depressed oil prices. A presidential decree issued last week said Isabel,...

  • CHICAGO, June 6- U.S. corn, soybeans and wheat rallied on Monday, supported by concerns that rains in South America and Europe and dryness in the United States could limit crop production, traders said. Chicago Board of Trade corn futures notched the biggest gains, rising 2.1 percent and hitting its highest since July 2015. "This is not just about France but this seems...

  • June 6- Alternative mutual funds provider Context Asset Management appointed Matt Rowe to the newly created position of chief strategy officer.

  • June 6- T-Mobile US Inc said on Monday it will give a share of the wireless company's stock to customers who hold a postpaid or monthly account for free to turn its customers into shareholders. Shares of T-Mobile were relatively unchanged at $73.59 in afternoon trading. "This has never been done before," by a public company, chief executive John Legere said on a media...

  • WASHINGTON, June 6- Legislation to help Puerto Rico restructure its $70 billion in debt is likely to be debated by the U.S. House of Representatives beginning on Thursday, a Republican leadership aide said on Monday. By a vote of 29-10, the House Natural Resources Committee on May 25 approved the "Puerto Rico Oversight, Management and Economic Stability Act," which...

  • NEW YORK, June 6- U.S. Treasuries reversed some price declines but still ended weaker on Monday after Federal Reserve Chair Janet Yellen said a strengthening economy means that interest rate increases are likely on the way, while also acknowledging Friday's disappointing employment report. "She was probably not as dovish as feared," said Tom Porcelli, chief U.S....

  • *Fed Chair Janet Yellen sounds upbeat note on economy. June 6- The S&P 500 hit a 7- month intraday high on Monday as investors digested comments from Federal Reserve Chair Janet Yellen, who painted a mostly upbeat picture of the economy but gave little sense of when a rate hike may be coming. She didn't say' in the next few months,' which is dovish, "said Bucky Hellwig,...

  • U.S. federal mediators directed the parties to resolve contract language issues next week ahead of a new final mediation session during the week of June 20, the Association of Flight Attendants-CWA said in an online notice. Flight attendants from United and Continental Airlines, which merged in 2010, still staff separate flights and operate under different...

  • SAO PAULO, June 6- Brazilian interim President Michel Temer said on Monday he plans to nominate technocrats to the top positions in state-controlled firms and pension funds, once the lower house approves a draft proposal requiring high-ranking public employees to have high technical qualifications. For decades, government named political appointees to...

  • BRUSSELS, June 6- A German regulator has fined three companies for still relying on a Safe Harbour agreement to electronically transfer personal data to the United States, despite the deal being declared invalid by the EU's highest court last year on concerns about U.S. mass surveillance activities. Companies that need to transfer personal data to the United...

  • SAO PAULO, June 6- Brazil's antitrust watchdog Cade wants the nation's five biggest commercial banks to detail better their plan to set up a credit research company to gather information on borrowers' bill-paying history, on concern the deal could hamper competition. In January, state-controlled Banco do Brasil SA and Caixa Econômica Federal teamed up with...