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  • NEW YORK, Oct 20- AbbVie Chief Executive Officer Richard Gonzalez for three months led the charge to buy Dublin drugmaker Shire for $55 billion, only to walk away from the deal last week, but analysts and fund managers said he deserves credit for trying and should remain at the helm of the Chicago drugmaker. Investors were given no advance warning on Thursday, when...

  • Grain higher, livestock mixed Tuesday, 21 Oct 2014 | 10:55 AM ET

    CHICAGO— Grain futures were higher Tuesday in early trading on the Chicago Board of Trade. Wheat for Dec delivery was unchanged at $5.1350 a bushel; Dec corn was 5.75 cents higher at $3.54 a bushel; Dec oats were unchanged at $3.5050 a bushel; while Nov soybeans gianed 11.75 cents to $9.56 a bushel. Dec live cattle was. 83 cent higher at $1.6885 pound; Oct feeder cattle...

  • But offshore drillers such as Transocean Ltd are expected to post lackluster quarterly sales as new rigs ordered in boomtime hit the seas, creating overcapacity in an already crowded market. Revenue at Transocean, the second-biggest global offshore driller by market value, is expected to fall 15 percent- its steepest in three years- according to Thomson...

  • WASHINGTON, Oct 21- The U.S. Federal Deposit Insurance Corp unveiled a final rule on Tuesday that requires banks to retain at least 5 percent of the risk on their books when they bundle loans, securitize them and sell them to investors. The rule, expected to be adopted by the FDIC later on Tuesday, aims to prevent a repeat of the 2007-2009 financial crisis, when banks'...

  • Allergan says it stands by statements on Valeant Tuesday, 21 Oct 2014 | 10:45 AM ET

    BOSTON, Oct 21- Allergan Inc said on Tuesday that it believes there is no evidence to support Valeant Pharmaceuticals and hedge fund Pershing Square Capital Management's claims that its chief executive officer spearheaded a campaign to spread misinformation about Valeant.

  • Unemployment rates fall in 31 US states last month Tuesday, 21 Oct 2014 | 10:43 AM ET

    The Labor Department says that unemployment rates rose in 8 states and were unchanged in 11 states. Colorado and Kentucky, two states with hard-fought Senate campaigns, experienced the biggest declines in unemployment. Colorado's fell to 4.7 percent from 5.1 percent, and Kentucky's rate dropped to 6.7 percent from 7.1 percent.

  • *Existing home sales rise 2.4 percent in September. WASHINGTON, Oct 21- U.S. home resales jumped to their highest level in a year in September, the latest indication that the housing market recovery is gradually getting back on track. The National Association of Realtors said on Tuesday existing home sales rose 2.4 percent to an annual rate of 5.17 million units,...

  • Huntington Bancshares misses Street 3Q forecasts Tuesday, 21 Oct 2014 | 10:40 AM ET

    COLUMBUS, Ohio _ Huntington Bancshares Inc. on Friday reported third-quarter profit of $155 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share. Analysts expected $715.7 million, according to Zacks.

  • But the radical jihadists have for longer been engulfing another strategically more vital target- Iraq's western Anbar province and its road to Baghdad. Now Anbar's largest airbase Ain al-Asad, the Haditha Dam- a critical piece of infrastructure- and surrounding towns are encircled by Islamic State to the west from the Syrian border and to the east from...

  • Sales at restaurants open at least 13 months, a closely watched gauge of performance, fell a steeper-than-expected 3.3 percent in the United States, where resurgent fast-food rivals and more upscale brands like Chipotle Mexican Grill are taking a bite out of market share. Europe, which just edges out the United States as McDonald's top revenue market, is...

  • New rules on banks' risk in mortgage bonds eased Tuesday, 21 Oct 2014 | 10:32 AM ET

    WASHINGTON— New U.S. rules aimed at getting banks to take on more of the risk when they package and sell mortgage securities are being relaxed with an eye to spurring broader home lending. Federal regulators have dropped a key requirement: a 20 percent down payment from the borrower if a bank didn't hold at least 5 percent of the mortgage securities tied to those...

  • GENEVA, Oct 21- World Trade Organization chief Roberto Azevedo will begin consulting with WTO ambassadors on Wednesday to try to work out how to pick up the pieces after global trade negotiations appeared to suffer a final defeat on Tuesday. Some diplomats had said the meeting was the final deadline for India to stop blocking a global agreement or they might...

  • Dallas tycoon Wyly files for bankruptcy protection Tuesday, 21 Oct 2014 | 10:22 AM ET

    DALLAS— Prominent Dallas businessman Samuel Wyly is filing for bankruptcy protection as he and the estate of his brother face up to $400 million in penalties after being found liable for hiding stock holdings overseas. The one-time owner of the Michaels arts-and-crafts store chain says his biggest liabilities are to the IRS— the amount is unknown— and $198...

  • *Qatar, Saudi Arabia supported by solid Q3 results. DUBAI, Oct 21- Solid corporate earnings and rebounding global equities lifted most stock markets in the Middle East on Tuesday, while Saudi Arabia led the rally after stabilising oil prices provided additional support to its petrochemical stocks. European shares, which have largely set the direction for...

  • *Insurers face $800 mln bill; outstrips $60- $90 mln premiums. *Follows downing of MH17 over Ukraine, other incidents. The hefty bill dwarfs the $60- $90 million in income insurers received last year to cover the incidents, which have included the downing of Malaysia Airlines' MH17 passenger jet in Ukraine, and could mean some bow out of the market if the price...

  • WASHINGTON, Oct 21- The U.S. Department of Commerce will terminate a 15- year-old deal sheltering Russian flat-rolled steel producers from high import duties, it said in a letter to Russian authorities. Duties will apply beginning Dec. 16, according to the letter from Ronald K. Lorentzen, the Commerce Department's deputy assistant secretary for enforcement and...

  • GENEVA, Oct 21- India made no sign of dropping its veto on a global trade deal on Tuesday, forcing World Trade Organization chief Roberto Azevedo to announce a week of talks to try to chart the future direction of the Geneva- based body. Some diplomats had said a WTO meeting on Tuesday was the last chance for India to let a global trade deal go through or other countries...

  • 'SNL' adds black woman to cast from writers room Tuesday, 21 Oct 2014 | 10:07 AM ET

    NEW YORK— "Saturday Night Live" is giving its on-screen diversity another boost. NBC says the comic institution is adding Leslie Jones to its cast. She starred in a one-hour comedy special "Problem Child" on Showtime.

  • NEW YORK, Oct 21- U.S. stocks rose on Tuesday, with the S&P 500 on track for a fourth straight session of gains as Apple and Texas Instruments rallied after their results. Apple Inc rose 2.3 percent to $102 in heavy trading a day after revenue topped expectations, helped by strong sales of its iPhone line. Any fund manager who is underweight on Apple is probably...

  • NEW YORK, Oct 21- Anthony Reynolds works on what he calls "the SWAT team of airplane cleaners," scrubbing the seats, carpets and toilets of planes parked overnight at the Philadelphia airport. The Ebola outbreak that has killed more than 4,400 people in West Africa, with three infections in the United States, is pushing the issue of worker health and safety to the top...