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  • March 12- Doral Financial Corp filed for Chapter 11 bankruptcy protection on Wednesday to wind down its remaining operations two weeks after its Puerto Rico- based bank subsidiary was seized by regulators. Doral Financial's bankruptcy is the latest reminder of the financial crisis on the island, a U.S. commonwealth, which has been mired for years in an economic...

  • FRANKFURT/ MADRID, March 12- European banks operating in the United States face an expensive challenge to meet tough standards set by regulators after both Santander and Deutsche Bank flunked a healthcheck and were told to improve systems and controls. Spain's Santander failed the Federal Reserve's "stress test" for the second consecutive year and Deutsche...

  • Earnings help European shares edge higher to extend rally Thursday, 12 Mar 2015 | 11:30 AM ET

    PARIS/ LONDON, March 12- European shares held near fresh seven-year highs hit on Thursday, weighed down by Sabadell after it made a bid for TSB, although better than expected earnings reports supported the market. Spain's Banco de Sabadell fell 6.1 percent after making a takeover bid that valued British bank TSB at around $2.6 billion. But they have to set aside the...

  • GLOBAL MARKETS-Dollar off recent peaks; stocks, Brent up Thursday, 12 Mar 2015 | 11:22 AM ET

    NEW YORK, March 12- The dollar softened the most in a month against a basket of currencies on Thursday, giving stocks and some commodities respite after sharp sell-offs triggered by expectations of the U.S. Stocks opened higher on Wall Street, led by bank shares after the Fed approved most of their capital plans, many of which included share repurchases and...

  • EDINBURGH, March 12- An international accounting standards body said on Thursday it was looking at developing new accounting methods for "hybrid" pensions which did not fit easily into standard categories. But many firms are also introducing hybrid pension schemes which do not fit neatly into either category, International Accounting Standards Board Chair...

  • NEW YORK, March 12- U.S. The Commerce Department reported shortly after the start of New York trading that U.S. retail sales had unexpectedly fallen for a third straight month in February. "There's been good buying since we got very, very disappointing retail sales," said Justin Lederer, an analyst at Cantor Fitzgerald in New York.

  • *Offer values TSB at 340 pence per share. LONDON, March 12- British challenger bank TSB has received a takeover approach from Banco Sabadell, valuing the business at about $2.6 billion and sending its shares soaring by nearly a quarter. Sabadell, Spain's fifth-biggest bank, has made a proposal of 340 pence in cash for each TSB share, subject to reaching agreement on...

  • The opening of the insurance sector-- which has languished in parliament for more than six years-- is one of a series of measures that Modi hopes will make it easier for overseas firms to bet on India's growth story. The legislation will shake up India's overcrowded life insurance sector, allowing global insurers such as Britain's Prudential-- which holds a...

  • Coke CEO took 23 pct higher compensation last year Thursday, 12 Mar 2015 | 11:12 AM ET

    March 12- Coca-Cola Co said Chief Executive Muhtar Kent earned $25.2 million in compensation in 2014, about 23 percent higher than the previous year. The company said in October it had adopted new guidelines limiting its executive pay plan from this year, after its outsized employee share rewards were criticized by investors including Warren Buffett.

  • LONDON/ DUBAI, March 12- Saudi Aramco, the kingdom's state oil giant, is close to completing a $10 billion tightly-priced loan, banking sources said on Thursday, part of which could be used to back the purchase of a stake in German synthetic rubber firm Lanxess. The cash replaces an existing $4 billion five-year loan due to mature later this year which Aramco, the...

  • March 12- Chemical company DuPont had offered Trian Fund Management LP one board seat, but that was not enough, the hedge fund's chief executive Nelson Peltz told CNBC on Thursday. Trian, which holds 24.6 million shares in DuPont, wants to nominate two members to DuPont's board and another two to the board of DuPont's spinoff company, Chemours, Peltz said.

  • Gold's eight-session drop to Wednesday was longest in 6 years. LONDON, March 12- Gold steadied on Thursday as a retreat in the dollar from 12- year highs arrested its eight-session slide, though speculation that U.S. interest rates could rise sooner rather than later kept prices under pressure. Gold fell to its lowest since Dec. 1 on Wednesday at $1,147.10 an ounce...

  • WASHINGTON, March 12- The International Monetary Fund sees the recent increase in the value of the U.S. dollar as being in line with market fundamentals, a spokesman for the institution said on Thursday. IMF spokesman Gerry Rice said the decline in energy prices, the changing growth outlooks for major economies and the diverging paths of monetary policies...

  • NEW YORK, March 12- Raising the minimum age to purchase tobacco products to 21 or 25 years old would significantly reduce their use and tobacco-related illnesses in the United States, a study published Thursday found, suggesting that states and local authorities should consider passing such laws. Four states- Alabama, Alaska, New Jersey and Utah- have increased...

  • *Wall St coming off extended decline. *Intel shares fall after lowered outlook. NEW YORK, March 12- U.S. stocks rose in a broad rally on Thursday, with banking stocks among the biggest gainers of the day, though tech shares were pressured by a weak outlook from Intel.

  • TEL AVIV/ FRANKFURT, March 12- Two years after scientists cooked up the first test tube beef hamburger, researchers in Israel are working on an even trickier recipe: the world's first lab-grown chicken. Professor Amit Gefen, a bioengineer at Tel Aviv University, has begun a year-long feasibility study into manufacturing chicken in a lab, funded by a non-profit...

  • DETROIT, March 12- General Motors Co said on Thursday it plans to cut its powertrain warranty on Chevrolet and GMC vehicles for the 2016 model year because the offer was not a strong enough selling point. The Detroit automaker said it also will scale back its offer of two years of free maintenance, including oil changes and tire rotations, on most new Chevy, GMC and...

  • UPDATE 1-FDA says panel to discuss "superbug" spread Thursday, 12 Mar 2015 | 10:46 AM ET

    The gastroenterology and urology devices panel would meet on May 14-15, FDA said on Thursday. A top FDA official said earlier this month that manufacturers' tests of procedures to clean medical scopes linked with "superbug" outbreaks contained flaws that render their cleaning instructions unreliable. Olympus Corp, Fujifilm Holdings Corp and Pentax Medical...

  • LONDON, March 12- Bank of England Governor Mark Carney signalled on Thursday he was in no rush to raise interest rates, saying the impact of sterling's rise and low global inflation could last for some time. "The bottom line is that there is a risk that the combination of persistently low global inflation and the strength of sterling could weigh on prices here for...

  • OTTAWA, March 12- Canada was unable to reach agreement with the United States on whether to require advanced braking systems in new oil tank cars, so the requirement was dropped from a draft of new Canadian tank-car standards, Transport Minister Lisa Raitt said. "We didn't get an agreement with the United States on that issue." The new tank-car standards are meant to...