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  • California traffic volumes increased more than 2.6 percent in both 2014 and 2015, based on estimates prepared from automated roadside traffic counts at 20 locations across the state. California is the largest gasoline market in the country, and the second-largest diesel market after Texas, so it can be a key indicator for national developments.

  • *Government plans privatisations, move into new industries. RIYADH, Jan 28- At a three-day conference in Riyadh this week, hundreds of Saudi Arabian officials and businessmen discussed ways to rescue the economy from low oil prices, by developing new industries and giving opportunities to the private sector. As cheap oil pressures its currency and opens up a...

  • Net income rose to $478.4 million, or 45 cents per share, in the fourth quarter ended Dec. 31, from $428.5 million, or 40 cents per share, a year earlier. Revenue rose to $5.38 billion from $5.12 billion. Lilly backed its 2016 adjusted earnings forecast but cut its earnings guidance to $2.83- $2.93 per share.

  • WASHINGTON, Jan 28- Northrop Grumman Corp, maker of Global Hawk surveillance planes, posted higher-than-expected earnings for the fourth quarter on Thursday. Northrop, the third-largest U.S. weapons maker, reported net earnings of $459 million, with diluted earnings per share at $2.49 on revenue of $5.7 billion. Analysts polled by Thomson Reuters I/B/E/S had...

  • LONDON, Jan 28- Britain's banking regulators will investigate whether certain former senior managers at HBOS, the bank which collapsed in 2008, should be banned from holding office in the financial sector, they said on Thursday. "These investigations will determine whether or not any prohibition proceedings should be commenced against them," the Bank of...

  • Time Warner Cable said revenue rose 4.9 percent to $6.07 billion in the fourth quarter, from $5.79 billion a year earlier. Net income attributable to common shareholders fell to $486 million, or $1.70 per share, in the quarter ended Dec. 31, from $554 million, or $1.95 per share. Analysts on average had expected a profit of $1.78 on revenue of $6.05 billion, according...

  • PARIS, Jan 28- The chief executive of French fashion house Chanel, Maureen Chiquet, has abruptly resigned over strategic differences, the company said, just as the luxury goods industry is suffering from a severe slowdown. Alain Wertheimer, who owns Chanel with his brother Gerard, will manage the luxury brand until a replacement is found for Chiquet.

  • *China's Jan copper imports expected to be strong. LONDON, Jan 28- Copper slid on Thursday as the market started to factor in slower activity in China ahead of the New Year holiday, but expectations of stronger imports by the top consumer in January and a weaker dollar helped limit losses. Traditionally China's industrial sector comes to a halt during the...

  • Jan 28- Canada's Penn West Petroleum Ltd cut its 2016 capital budget by as much as 90 percent to C $50 million from a year earlier, to weather a steep plunge in crude oil prices.

  • The jump in shares was set to add nearly $33 billion to Facebook's market value, putting the company on track to re-enter the $300 billion club. Piper Jaffray was the most bullish, raising its target to $170 from $155. The median target on the stock is $140, suggesting that Facebook could add $129 billion in market value over the next 12 months.

  • NEW YORK/ VANCOUVER, Jan 28- Europe's biggest lender HSBC will no longer provide mortgages to some Chinese nationals who buy real estate in the United States, a policy change that comes as Beijing is battling to stem a swelling crowd of citizens trying to get money out of China. An HSBC spokesman in New York told Reuters on Wednesday that the new policy went into...

  • BEIJING, Jan 28- Chinese Premier Li Keqiang told International Monetary Fund chief Christine Lagarde that China is capable of keeping the yuan basically stable against a basket of currencies, state television said on Thursday.

  • Jan 28- Drugmaker Eli Lilly and Co reported a 5 percent rise in quarterly sales, helped by higher sales of its diabetes drugs. Net income rose to $478.4 million, or 45 cents per share, in the fourth quarter ended Dec. 31, from $428.5 million, or 40 cents per share, a year earlier. Revenue rose to $5.38 billion from $5.12 billion.

  • *Economists expect Iran to borrow internationally this year. LONDON, Jan 28- Low oil prices and the economic and geopolitical scars of years of international sanctions all point to a high risk' junk' credit rating for Iran when it starts feeling its way back into borrowing markets. "We had Iran at B2 but a lot has changed since then, including our methodology, said...

  • BRUSSELS, Jan 28- The European Commission plans a review of the Value Added Tax rules this year but has not made concrete decisions yet on how to overhaul the existing regime, EU tax commissioner Pierre Moscovici told a news conference on Thursday. In earlier comments, Moscovici said "zero rate is not the best idea", a reference to Britain, which- along with the...

  • BRUSSELS, Jan 28- The European Commission has no immediate plans to propose ending value added tax exemptions on various products in the United Kingdom, the EU Commissioner responsible for taxes Pierre Moscovici told a news briefing on Thursday. On Wednesday, Moscovici told reporters the Commission would consider whether to scrap the British "zero rate" on...

  • LONDON, Jan 28- British finance minister George Osborne said on Thursday that the government would postpone the sale of shares in bailed-out lender Lloyds Banking Group due to the turmoil in the global financial markets. "British people can buy Lloyds shares but we'll only sell when turbulent markets have calmed down," Osborne said on his official Twitter feed.

  • Jan 28- Time Warner Cable Inc, which is being bought by Charter Communications Inc, reported a 4.9 percent rise in revenue as it added more residential video customers. The company said revenue rose to $6.07 billion in the fourth quarter, from $5.79 billion a year earlier. Net income attributable to common shareholders fell to $486 million, or $1.70 per share, in the...

  • *Graphic on Iran's economy: http://reut.rs/1P8jWNx. They are expected to be able to link up with international lenders to process transactions within a matter of weeks following a deal with world powers earlier this month curbing Iran's nuclear programme. "Isolation of Iran's money market from international markets resulted in the inability of the Iranian...

  • BRUSSELS, Jan 28- The European Union will impose duties on imports of cold-rolled flat steel from China and Russia while its investigation into alleged dumping by the two countries continues. The European Commission has set provisional duties of up to 16 percent for China and of up to 26 percent for Russia, according to sources familiar with the Commission's...