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  • March 12- Endo International Plc's $11 billion offer this week for Salix Pharmaceuticals Ltd, an effort to trump an agreed $10 billion bid from Valeant Pharmaceutical Inc, illustrates CEO Rajiv De Silva's plan to be seen as not just a protege of Valeant chief Mike Pearson, but as a challenger. If successful, buying Raleigh, North Carolina- based Salix would combine...

  • March 12- Canada's federal budget will show a deficit of just over C $2 billion in the current fiscal year and will be balanced in the year starting April 1, Prime Minister Stephen Harper said on Thursday. "Last year we had a deficit of only a little over C $5 billion, which was much less than we anticipated. This year, we're coming in at a little over C $2 billion, and of...

  • March 12- Turkey is an object lesson in the dangers of political interference in monetary policy, made much worse when it is based on the economic equivalent of trying to repeal the law of gravity. Turkey's President Tayyip Erdogan, who seems to think high interest rates cause high inflation rather than the other way round, met with Central Bank Governor Erdem...

  • Michael Kimelman, 44, in a Thursday court filing called himself the victim of a "clear and fundamental miscarriage of justice," and said he is "actually innocent" of the charges for which he was convicted in June 2011, in a trial before U.S. District Judge Richard Sullivan in Manhattan. Kimelman was convicted in June 2011 for his involvement in an alleged insider...

  • *Wall Street rallies; boosts world share markets. NEW YORK, March 12- Stocks on major markets rose on Thursday as the dollar softened the most in a month against major currencies after surprisingly weak U.S. data. Stocks on Wall Street posted their biggest gains since early February.

  • NEW YORK, March 12- U.S. The benchmark 10- year note was last off 1/ 32 and yielding about 2.11 percent, according to Thomson Reuters data. Gains for other maturities narrowed after the U.S. Treasury Department sold previously issued 30- year bonds at a yield of 2.681 percent to soft demand, Treasury data showed.

  • VENEZUELA LIKELY TO SEEK ANNULMENT, REVISION OF $455 MLN OWENS- ILLINOIS ARBITRATION AWARD- LAWYER.

  • NEW YORK, March 12- International Business Machines Corp is considering adopting the underlying technology behind bitcoin, known as the "blockchain," to create a digital cash and payment system for major currencies, according to a person familiar with the matter. The objective is to allow people to transfer cash or make payments instantaneously using this...

  • March 12- Teen apparel retailer Aeropostale Inc reported an adjusted profit after two years of losses as cost cuts helped boost margins in the holiday shopping quarter. Aeropostale's net loss narrowed to $13.5 million, or 17 cents per share, in the fourth quarter ended Jan. 31 from $70.3 million, or 90 cents per share, a year earlier. Analysts on average had expected...

  • HOUSTON, March 12- The United Steelworkers union and oil companies have reached a tentative deal to end the largest U.S. refinery strike in 35 years, the labor group and people familiar with the negotiations said on Thursday. "We salute the solidarity exhibited by our membership," said USW International President Leo Gerard. Lead industry negotiator Royal Dutch...

  • March 12- U.S. stocks closed up on Thursday, bouncing back from two days of losses, helped by a weaker dollar and a rally in banking shares.

  • WASHINGTON, March 12- Commerzbank AG has agreed to pay U.S. authorities $1.45 billion to resolve sanctions and other violations, the latest big European bank to acknowledge moving funds through the U.S. financial system for countries like Iran and Sudan. Commerzbank is the latest in a series of big foreign banks that have been penalized for sanctions-related...

  • UPDATE 1-Reich & Tang to exit U.S. money fund business Thursday, 12 Mar 2015 | 3:59 PM ET

    NEW YORK, March 12- Reich& Tang said on Thursday it will exit the U.S. money market fund business, as the $2.7 trillion industry has been grappling with tighter regulations stemming from the global financial crisis. The New York- based firm said in a statement it plans to liquidate its money market funds, worth $9.5 billion, by July 31. Large money fund operators...

  • LOS ANGELES, March 12- The Walt Disney Co has started work on a sequel to "Frozen," the best-selling animated movie of all time and a global merchandising phenomenon that helped push the media giant to record profits. Directors Chris Buck and Jennifer Lee are returning for the sequel, Disney said on Thursday. "We enjoyed making' Frozen Fever' so much and being back in...

  • NEW YORK, March 12- A federal judge on Thursday said Citigroup Inc cannot process interest payments by Argentina on some bonds issued under that country's law, a defeat for the cash-strapped nation as it tries to reenter international debt markets. District Judge Thomas Griesa in Manhattan said letting Citigroup process the payments on so-called...

  • *Genscape cites another big U.S. crude stock in Cushing- trade. NEW YORK, March 12- Global oil prices fell on Thursday on estimates showing another big supply build at the delivery point for the U.S. crude contract, with trade volatile ahead of the expiry of the front-month in benchmark Brent oil. "The ship channel opening allows crude to get to refineries and the...

  • March 12- Intel Corp slashed nearly $1 billion from its first-quarter revenue forecast as small businesses put off upgrading their personal computers, sending the chipmaker's shares down more than 5 percent. Fewer companies than Intel had expected replaced desktop PCs running on outdated Microsoft operating systems, leading to weak demand for its chips.

  • NEW YORK, March 12- U.S. motorists took to the roads in record numbers in December, capping the fastest annual increase in miles driven for a decade, federal data showed on Thursday, a surge that analysts attribute to cheap gasoline and uptick in car sales. Motorists drove an estimated 251.4 billion miles in December, up 5 percent from last year and the most miles ever...

  • MEXICO CITY, March 12- Mexico's government on Thursday urged the private sector to take a bigger role in billions of dollars worth of planned public works and the opening of the country's energy sector, weeks after scaling back its own planned spending due to slumping oil prices. Mexico, a major crude exporter, has suffered from a slowdown in growth in the past two...

  • *Intel shares fall after lowered outlook. A weak outlook from Intel, however, limited gains in the tech sector. "I've been a believer in a June rate hike for a while, but the odds really went up on Friday, and the market action we've seen since then is in line with the volatility we've historically seen around rate hikes," said James Liu, global market strategist for...