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  • China's largest shipbuilder China State Shipbuilding Corp and Carnival Corp will buy and operate cruise ships for the yet to be named cruise line. CSSC and state-owned sovereign wealth fund China Investment Corp will own 60 percent of the venture and Carnival Corp will own the rest, Carnival Corp Chief Operating Officer Alan Buckelew said on a media call.

  • NEW YORK, Oct 21- Valeant Pharmaceuticals International Inc plunged as much as 40 percent after an influential short-seller accused the company of using specialty pharmacies to inflate its revenue, an allegation that the drugmaker denied. Citron Research, a short-selling firm run by Andrew Left, alleged that Valeant's previously undisclosed ties to...

  • CARACAS, Oct 21- Socialist Party legislators on Wednesday asked state prosecutors to investigate Venezuela's billionaire businessman Lorenzo Mendoza and Harvard economist Ricardo Hausmann for alleged crimes including "treason." State media last week broadcast a private conversation between the pair in which Hausmann insists Venezuela's crisis-hit...

  • NEW YORK, Oct 21- Oil prices fell about 2 percent to 3- week lows on Wednesday as the U.S. government reported a bigger build than expected in crude stockpiles, although significant drawdowns in gasoline and distillates prevented a steeper slide in crude futures. U.S. crude oil inventories rose 8 million barrels last week, the government-run Energy Information...

  • CAMARIOCA, Cuba, Oct 21- Cuba plans to drill exploratory deepwater wells in the Gulf of Mexico by the end of 2016 or beginning of 2017 despite current low oil prices, officials from the state oil monopoly said. Experts believe billions of barrels worth of oil lie beneath the waters off Cuba's northwest coast, but a host of companies that have drilled over the years...

  • OTTAWA, Oct 21- Canada's central bank said on Wednesday it will take a wait-and-see approach to plans by the country's newly elected Liberal government to run deficits, noting it will take time to see how quickly and deeply it impacts the economic outlook. At the same time, the Bank of Canada painted a picture of an economy pulling out of its first-half downturn,...

  • WASHINGTON, Oct 21- House Republicans on Wednesday defended an industry-backed legislative proposal that would award automakers credits against federal pollution standards for adopting advanced collision-avoidance technology in cars and other light vehicles. The proposal, contained in a 62- page draft bill written by the House Energy and Commerce...

  • Health insurers fell after Democratic presidential candidate Hillary Clinton said she has "serious concerns" about health insurer Aetna Inc's plan to acquire Humana Inc and Anthem Inc's proposal to buy Cigna Corp. The S&P healthcare index was last down 2 percent. Valeant Pharmaceutical's U.S.-listed shares lost a fourth of their value after short-seller...

  • YouTube unveils paid video service without ads Wednesday, 21 Oct 2015 | 1:51 PM ET

    LOS ANGELES, Oct 21- Alphabet Inc's YouTube will launch a $10- a-month subscription option in the United States on Oct. 28 that lets viewers watch videos from across the site without interruption from advertisements, the company said on Wednesday. "Consumers are embracing paid subscriptions of ad-free content at an incredible pace," Robert Kyncl, YouTube's chief...

  • Citron's Left hits nerve with new Valeant broadside Wednesday, 21 Oct 2015 | 1:44 PM ET

    NEW YORK, Oct 21- Andrew Left's Citron Research is largely a one-man investment research operation that has shaken financial markets in both the United States and China from his home office in Beverly Hills, California. His missive on Wednesday on Valeant Pharmaceuticals International Inc caused the already-reeling stock to plunge and fed further doubts...

  • WASHINGTON, Oct 21- Hard-line conservative Republicans in the U.S. House of Representatives on Wednesday were not rallying behind Paul Ryan's bid to be the next speaker, as party turmoil again overshadowed debt and budget issues that could rattle markets. So far, no such support was evident, though the right-wing Freedom Caucus of about 40 of the House's 247...

  • CNN to launch social media-focused video network Wednesday, 21 Oct 2015 | 1:35 PM ET

    Some of the content will be sponsored by companies such as Hewlett-Packard Enterprise. The video network has recruited people from companies such as BuzzFeed, Vox Media, VICE, MTV, Amazon.com, and Yahoo, CNN spokesman Matt Dornic said in an emailed statement. CNN, owned by Time Warner Inc, has made a "multi-year investment" in' Great Big Story'.

  • LONDON, Oct 21- China has reduced capacity in its iron and steel industry by 700 million tonnes, President Xi Jinping said on Wednesday, fending off criticism that China's cut price steel exports had brought the British steel sector to its knees. "China has taken a series of steps to reduce capacity, we have reduced more than 700 million tonnes of production...

  • WASHINGTON, Oct 21- Democratic presidential candidate Hillary Clinton has "serious concerns" about health insurer Aetna's plan to acquire Humana and Anthem's proposal to buy Cigna, saying the multi-billion-dollar deals should be closely reviewed by U.S. regulators. A $37 billion plan for Aetna Inc to acquire smaller rival Humana Inc approved by the...

  • Speaking during a state visit to Britain aimed at cementing closer economic ties, Xi said China had entered a "new normal" and that, like other emerging economies, had built resilience to cope with slowdowns after decades of rapid growth. Xi said China would be happy with an annual rate of growth of 7 percent. China's economic growth dipped below 7 percent in the...

  • LONDON, Oct 21- Britain's Financial Ombudsman has ruled against trading firm CMC Markets in an initial opinion on a complaint over a client's losses after the removal of Switzerland's cap on the franc exchange rate in January. The repricing of Swiss franc trades is at the heart of complaints by groups of clients of CMC and Saxo Bank, two of the largest online...

  • Oct 21- SolarWinds Inc said on Wednesday it agreed to be taken private by investment firms Silver Lake Partners and Thoma Bravo LLC for $4.5 billion, joining a growing list of enterprise software makers going private. SolarWinds earlier this month said it was exploring strategic alternatives after Reuters reported that the company was in talks to sell itself.

  • *Valeant sinks after Citron report, drags Allergan, Endo. Oct 21- Wall Street was little changed in early afternoon trading on Wednesday as gains by General Motors and technology stocks were limited by a slide in healthcare stocks. Allergan fell 4.6 percent to $251.37 and Endo International slumped nearly 13 percent to $54.98, weighing the most on the S&P 500 and...

  • NEW YORK, Oct 21- Billionaire investor activist Carl Icahn tweeted on Wednesday that he is forming a Super PAC with an initial commitment of $150 million, representing the biggest one-time injection of money in the history of such political action committees. In a letter, released Wednesday and sent to several leading members of Congress, Icahn said as many as 50...

  • European shares end marginally up, ECB meeting in focus Wednesday, 21 Oct 2015 | 1:00 PM ET

    *Credit Suisse slips on results, capital hike plans. MILAN/ LONDON, Oct 21- European shares crept higher on Wednesday as expectations of a positive close to the year and continued central bank support before an ECB meeting on Thursday helped investors to shrug off bad earnings news. "With the European Central Bank meeting tomorrow, investors do not want to be overly...