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  • Jan 15- Monsanto Co. received final U.S. approval on Thursday for herbicide-tolerant crops to be used with a new herbicide the company says will fight problematic weed resistance on farm fields, but critics say will only worsen the problems. Monsanto is still waiting for final approval from the Environmental Protection Agency for the herbicide it designed to...

  • Target workers, shoppers, dismayed at Canada pullout Thursday, 15 Jan 2015 | 1:57 PM ET

    TORONTO, Jan 15- Employees at Target Corp stores in Canada said they were stunned by the U.S. retailer's decision on Thursday to pull out of Canada, believing business had improved after an admittedly disastrous launch less than two years ago. I thought it was getting better, "said one Toronto Target employee who would only give her first name, Lima, for fear of...

  • CALGARY, Jan 15- The Canadian government will unveil its budget this year later than it usually does, waiting at least until April because of market volatility, Finance Minister Joe Oliver said on Thursday. We need all the information we can obtain before finalizing our decisions, "Oliver said in the text of a speech he was giving in Calgary. The federal budget is...

  • Banks ready to cut forecasts for euro after Swiss move Thursday, 15 Jan 2015 | 1:56 PM ET

    Morgan Stanley, Deutsche Bank and Societe Generale were among those to issue sell recommendations on the euro in the aftermath of a morning of turmoil on markets that generated millions of dollars in losses for some. Nikolaos Sgouropoulous, a G10 FX strategist at Barclays in London, said the British bank would wait until next week's ECB meeting before deciding...

  • FOREX-Swiss franc soars after SNB drops cap on currency Thursday, 15 Jan 2015 | 1:54 PM ET

    NEW YORK, Jan 15- The Swiss franc soared nearly 28 percent against the dollar on Thursday after Switzerland's central bank dumped a three-year-old cap on the franc's value against the euro, sending shockwaves through currency markets and pummeled traders who had bet against the franc. The euro plunged as much as 30 percent below the 1.20 cap to a record low of...

  • WASHINGTON, Jan 15- U.S. pension regulators questioned Thursday whether criminal violations in one unit of Credit Suisse Group AG reflect broader compliance problems at the Swiss bank, in an unusual public hearing to vet its request to continue managing retirement plans. At issue is whether Credit Suisse should be granted permission to continue managing...

  • NEW YORK, Jan 15- Morgan Stanley said it has promoted 151 employees to managing director on Thursday, more than half of them in the institutional securities business. Senior Morgan Stanley executives in New York, including Chief Executive Officer James Gorman, had been calling staff members to congratulate them on their promotions, Reuters reported earlier in...

  • Off-shore oil drilling and production in regions such as the North Sea and Gulf of Mexico have been a key source of demand for helicopter makers including United Technologies' Sikorsky unit, Finmeccanica's AgustaWestland and Airbus Helicopters. Textron's Bell Helicopter could soon become a bigger player with a new helicopter. During United Technologies'...

  • UPDATE 1-Weidmann says ECB action subject to limits Thursday, 15 Jan 2015 | 1:35 PM ET

    FRANKFURT, Jan 15- The head of Germany's central bank said on Thursday that an EU court opinion, which has been seen as paving the way for fresh money printing, also showed the European Central Bank was subject to legal limits on its actions. Jens Weidmann, the president of Germany's influential Bundesbank, however, said the opinion also showed that there are legal...

  • UPDATE 3-Lennar to Houston: We have a problem Thursday, 15 Jan 2015 | 1:33 PM ET

    Jan 15- Lennar Corp, the second-largest U.S. homebuilder by the number of homes sold, said it expects 2015 margins to be squeezed as falling oil prices hurt demand in Houston, a city heavily dependent on the energy sector. The warning overshadowed a 50 percent jump in quarterly profit and pushed Lennar's shares down as much as 9 percent. Houston accounted for about...

  • He said the Navy still expected to declare the F-35 C-model, which is designed for use on aircraft carriers, ready for combat use by the end of the decade, as planned. Mabus said the Navy was also looking at whether it needed additional EA-18G Growler electronic attack planes built by Boeing Co, since it was now the only military service providing that electronic...

  • BEVERLY HILLS, Calif., Jan 15- Show business satire "Birdman" and colorful caper " The Grand Budapest Hotel," on Thursday captured nine Academy Award nominations each, including best picture, for a year recognized for its original feats in filmmaking. American Sniper, "an Iraq war film by director Clint Eastwood, also earned six nominations, notably best picture and a...

  • USDA approves Monsanto's new GMO soybeans, cotton Thursday, 15 Jan 2015 | 1:21 PM ET

    Jan 15- Monsanto Co. received final U.S. approval on Thursday for herbicide-tolerant crops to be used with a new herbicide the company says will fight problematic weed resistance on farm fields, but critics say will only worsen the problems. Monsanto is still waiting for final approval from the Environmental Protection Agency for the herbicide it designed to...

  • NEW YORK/ LONDON, Jan 15- Currency speculators, especially large global macro hedge funds with big short positions in the Swiss franc, are staring massive losses in the face after the Swiss National Bank shocked markets on Thursday by removing a three-year-old cap on the currency. "You have these massive policies which forced all investors to invest with the...

  • WASHINGTON, Jan 15- The United States rolled out a sweeping set of measures on Thursday to significantly ease sanctions on Cuba, opening up the country to expanded U.S. travel, trade and financial activities. The 54- year-old U.S. embargo on Cuba will remain in place- only Congress can lift it. Congressional critics of Obama's shift say that Washington should not be...

  • Jan 15- Researchers believe they have discovered a mechanism by which tumors eventually evade effective combination treatments for melanoma, providing clues that could lead to longer-lasting therapies for the deadliest of skin cancers. Roger Lo of the UCLA Jonsson Comprehensive Cancer Center, looked at tumor samples from 15 melanoma patients prior to...

  • LONDON, Jan 15- Frantic trading after the Swiss National Bank scrapped its euro cap on the franc on Thursday drove Swiss stocks down nearly 9 percent, their biggest one-day percentage fall for at least 25 years. One trader described the central bank's move as "carnage", while Swatch Chief Executive Nick Hayek called the franc's surge in value against the euro an...

  • *Fourth-qtr adj net income 6 cents/ shr vs. est. Jan 15- Citigroup Inc said its quarterly profit dropped 86 percent, hurt by legal settlements and falling bond trading revenue, sending the bank's shares down more than 4 percent. Citi suffered on a number of fronts during the quarter.

  • *Bank of America, Citi down after results. *Swiss National Bank moves to scrap 3- year euro cap on the franc. Swiss stocks traded in the United States moved higher, Credit Suisse, up 0.7 percent at $22.98 and Novartis, up 1.9 percent to $98.61, as a strengthening Swiss franc made U.S.-dollar denominated stocks cheaper.

  • Jan 15- Bank of America Corp, the second largest U.S. bank by assets, reported a 14 percent fall in quarterly profit as a decline in bond yields further crimped earnings. Chief Financial Officer Bruce Thompson described the fourth quarter as a "challenging rate environment," but said the bank expected to earn an extra $3.7 billion from higher loan and securities...