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  • May 4- Corbus Pharmaceuticals Holdings Inc's experimental drug for cystic fibrosis, a rare lung-scarring disease, could be a real money spinner and pose a challenge to rival Vertex Pharmaceuticals Inc's successful treatment, Kalydeco. Corbus, a tiny biopharmaceutical company, received $5 million from the Cystic Fibrosis Foundation last month to develop...

  • Steve Easterbrook, CEO of the Golden Arches since just March 1, said on Monday McDonald's Corp would restructure into four operating divisions, squeeze out about $300 million in annual cost savings and sell 3,500 restaurants to franchisees. "It was a presentation designed to get the heat off from Wall Street. It had nothing to do with customers, "said Larry Light,...

  • WILLISTON, N.D., May 4- Oil and natural gas producer EOG Resources Inc posted a better-than-expected adjusted profit on Monday as hedges and cost cuts helped offset low oil prices. It was the continuation of a theme for U.S. shale oil producers, including Whiting Petroleum Corp and Hess Corp, who have aggressively curtailed spending and relied in varying degrees...

  • May 4- Hospital operator Tenet Healthcare Corp on Monday posted a net profit in the first quarter, compared with a year-ago loss, as more people with health insurance used its facilities. Tenet posted net income in the quarter of $47 million, or 47 cents a share, compared with a net loss of $32 million, or 33 cents, a year earlier. Dallas- based Tenet also confirmed its...

  • Anadarko had a first-quarter loss of $3.3 billion, or $6.45 per share, compared with $2.7 billion, or $5.30 per share in the same period a year earlier when results included a $5 billion settlement related to litigation. Excluding one-time items, the largest being a $2 billion write down of the value of some of the Houston company's assets, Anadarko had a loss of 72...

  • JORHAT, India, May 5- Usha Ghatowar smiles wryly when asked about the pay she earns picking leaves at a colonial-era tea garden in India's Assam. Scientists say climate change is to blame for uneven rainfall that is cutting yields and lifting costs for tea firms such as McLeod Russel, Tata Global Beverages and Jay Shree Tea. Assam Chief Minister Tarun Gogoi, whose...

  • SEOUL/ HONG KONG, May 5- The dealing rooms of Seoul's foreigners-only casinos are echoing to the sound of Mandarin as operators target a new breed of' low-roller' gamblers- Chinese shoppers. In places like Paradise Walkerhill in Seoul, Paradise Co Ltd, South Korea's biggest casino firm, is targeting people like Chen Jie Yi, a 27- year-old from Beijing on a recent tour...

  • The path to a wearable future lies in academia Monday, 4 May 2015 | 5:00 PM ET

    May 5- For a glimpse of what is, what might have been and what may lie ahead in wearable devices, look beyond branded tech and Silicon Valley start-ups to the messy labs, dry papers and solemn conferences of academia. Any academic interested in wearable technology would look at today's commercial products and say "we did that 20 years ago," said Aaron Quigley, Chair of...

  • WASHINGTON, May 4- The U.S. Holding more cash on hand at the end of every day would help the government get through shocks to its income stream, including future fiscal arguments in Washington. Congressional analysts estimate that Washington must raise the debt ceiling by October or November to keep the Treasury able to pay all its bills.

  • May 4- Samsung and Walt Disney's Marvel introduced a marketing campaign that uses virtual reality to promote "Avengers: Age of Ultron" as more studios look to the new technology to push movies. Jamie Park, head of experimental marketing at Samsung, said the company had seen a growing interest from studios in virtual reality and Samsung would be doing more of this in...

  • GATINEAU, Quebec, May 4- Canadian Liberal leader Justin Trudeau pledged on Monday to cut taxes for most middle-class families and raise taxes on the rich as he sought to regain his polling lead over the governing Conservatives ahead of October's election. Trudeau, son of former Prime Minister Pierre Trudeau, helped lift the Liberals into first place in the polls...

  • Shell's Arctic return faces hurdle at Seattle port Monday, 4 May 2015 | 4:49 PM ET

    May 4- Royal Dutch Shell's quest to return to Arctic drilling for the first time in three years could face delays after Seattle ruled that the city's port must apply for a permit for the company to use it as a hub for drilling rigs. Seattle Mayor Ed Murray, a Democrat who has fought against new projects by coal and oil companies, applauded the requirement by the city's...

  • May 4- AcelRx Pharmaceuticals Inc said a division of the U.S. Food and Drug Administration had rejected the company's request for a meeting to discuss the need for an additional trial of its pain drug device, Zalviso. The company's shares fell about 32 percent to $2.85 in after-market trading on Monday after the FDA also restated its view that the additional...

  • WASHINGTON, May 4- Holcim Ltd, a Swiss company, and Lafarge S.A., which is based in Paris, on Monday won U.S. antitrust approval to merge after they agreed to divest assets, the Federal Trade Commission. Lafarge said previously that it would sell its Davenport cement plant in Iowa and seven terminals along the Mississippi River to Summit Materials for $450 million in...

  • May 4- The Pimco Total Return Fund, launched by Bill Gross, has lost its title as the world's biggest bond mutual fund, following two years of withdrawals. On Monday, Pimco said investors yanked another $5.6 billion from the Pimco Total Return Fund last month, bringing its assets to $110.4 billion at end of April. Outflows from the flagship Pimco Total Return Fund,...

  • Treasuries prices fell on Monday, with the long-end of the curve suffering the most of the sell-off and extending the prior week's declines amid low trading volumes because of holidays in Tokyo and London. Analysts said a combination of factors affected the 30- year Treasury, including negative yields in Europe and a drop in demand for new bonds, plus hints of...

  • BUENOS AIRES, May 4- Argentina will reduce income taxes for workers at the low end of the taxable-income scale, Economy Minister Axel Kicillof said on Monday, announcing a costly move that could help stave off conflict with unions ahead of October's elections. Private economists estimate Argentina's inflation rate at between 25 and 30 percent.

  • May 4- Wall Street ended higher on Monday as corporate earnings came in better than feared, although shares of McDonald's declined after the fast-food chain's turnaround plan left investors wanting more. "This is being driven by a lack of substantial negative news," said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle,...

  • WASHINGTON, May 4- Holcim Ltd, a Swiss company, and Lafarge S.A., which is based in Paris, on Monday won U.S. antitrust approval to merge after they agreed to divest assets, the Federal Trade Commission.

  • SAO PAULO, May 4- Recent setbacks for prosecutors in a huge corruption scheme at Brazil's state-run oil company Petroleo Brasileiro SA suggest they will struggle to win as many convictions as they seek. The Supreme Court's decision last week to release from jail nine executives at construction companies suspected of paying bribes in the scheme, and put them...