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  • DETROIT, Feb 3- January car sales by the three Detroit automakers topped analysts' expectations, as low gas prices and easy credit terms helped fuel sales of utility vehicles and big pickups. General Motors Co said on Tuesday that sales rose 18 percent to 202,786, while Ford Motor Co said sales were up 15 percent to 178,351. Analysts polled by Reuters had expected...

  • Feb 3- U.S. miner Arch Coal Inc reported a smaller-than-expected quarterly loss as it cut costs, sending its shares up nearly 9 percent in early trading. Arch Coal said cash costs fell to $16.46 per ton in the fourth quarter ended Dec. 31, from $18.10 per ton a year earlier. Arch Coal forecast full-year coal sales of 130.3 million-143 million tons in 2015, compared...

  • *Germany's DAX index hits record high. National Bank of Greece, Alpha Bank and Eurobank rose by 14.0 to 20.8 percent. Greek Finance Minister Yanis Varoufakis, in London on Monday to reassure private investors that he was not seeking a showdown with Brussels over a new debt agreement, said the new left-wing government would spare privately held bonds from losses, a...

  • DETROIT, Feb 3- AutoNation Inc, the largest U.S. auto dealer group, on Tuesday posted a higher-than-expected quarterly profit due to strong profit margins from new and used vehicle sales, driving its shares up nearly 8 percent. AutoNation Chief Executive Officer Mike Jackson said in an interview that low gasoline prices of about $2 a gallon, generous financing...

  • Feb 3- Isis Pharmaceuticals Inc's experimental diabetes drug took a longer-than-expected 36 weeks to reduce blood sugar levels in patients with type 2 diabetes. Deutsche Bank's Alethia Young said the data looked less robust that some commonly prescribed treatments and Isis's own experimental glucagon receptor, ISIS-GCGR. Type 2 diabetes is a chronic...

  • FRANKFURT, Feb 3- Austrian steelmaker Voestalpine's foreign expansion plans, focused on the United States, will not be changed by the weak oil price or euro, its chief executive said on Tuesday. Voestalpine, which sells steel and steel-based products to the automotive, railway and engineering industries, among others, has targeted the energy sector as one of its...

  • NICOSIA, Feb 3- Authorities in Cyprus have confiscated 500,000 euros from a Greek businessman who tried to fly home with the cash after banks on the island refused to let him deposit it. State radio reported the businessman had arrived in Cyprus from Greece, carrying the money in his luggage in bills of 200 and 500 euros. "The amount was found in the person's...

  • Feb 3- Ratings firm Standard& Poor's will pay $1.5 billion to resolve a series of lawsuits over its ratings on mortgage securities that soured in the runup to the 2008 financial crisis, the company said on Tuesday. S&P parent McGraw Hill Financial Inc said it will pay $687.5 million to the U.S. Department of Justice, and $687.5 million to 19 states and the District of...

  • LONDON, Feb 3- Oil rose further on Tuesday on solid U.S. manufacturing data and a weaker dollar, building on gains sparked by expectations that output will suffer following reports of declining rig counts and cuts in capital expenditure. Brent crude oil futures were up $1.13 cents at $55.88 a barrel as of 1430 GMT. WTI futures were at $50.60 a barrel, up $1.03 cents.

  • WASHINGTON, Feb 3- The U.S. government's top financial research group on Tuesday launched a new website, a move aimed at helping it gain a greater profile separate from the Treasury Department, which houses the powerful agency. The Office of Financial Research was set up after the 2007-09 credit meltdown to help regulators map financial markets and has the power...

  • UPDATE 1-Broadcasting revenue boosts Gannett profit Tuesday, 3 Feb 2015 | 9:33 AM ET

    Feb 3- Gannett Co, publisher of USA Today, reported a 24 percent rise in quarterly revenue as television broadcasting revenue more than doubled. Gannett said in August that it would spin off its print operations, including USA Today, joining a host of media companies separating slower-growing publishing assets from TV and digital properties.

  • *Russia's 2014 oil output at post-Soviet high. *Gazprom Neft postpones some projects. So far in 2015, output is little changed at 10.66 million bpd despite sanctions over the Ukraine crisis which bar Western majors from helping Russia's largest oil firms explore for new areas and limit their ability to borrow.

  • Feb 3- U.S. stocks opened higher on Tuesday, with the benchmark S&P 500 index set to continue a rally fueled by hopes of a deal on Greek debt and by firmer oil prices.

  • Feb 3- United Parcel Service Inc said on Tuesday it will start applying surcharges for residential packages this year after its costs soared during the recent disappointing holiday season. The Atlanta- based company had mobilized more workers and equipment for an anticipated surge in holiday packages, but the extra business failed to materialize.

  • *Greece's softer stance on debt soothes investor jitters. Meanwhile, Japan's Ministry of Finance sold 2.4 trillion yen 10- year JGBs to unexpectedly weak demand, pushing the spread between lowest and average bid prices to its widest in nearly 12 years. Wall Street dealers anticipated $25 billion in company debt this week, according to IFR, a unit of Thomson...

  • LONDON, Feb 3- There are no plans to scrap a draft European Union law on reining in trading risks at big banks but some of the proposed rules could be softened, the bloc's financial services chief said on Tuesday. Banks have hoped that Brussels would withdraw the draft law, saying Britain, Germany and France are already introducing their own rules to insulate...

  • RIO DE JANEIRO, Feb 3- Shares of Brazilian state-run oil company Petrobras jumped more than 8 percent on Tuesday after a local newspaper reported that President Dilma Rousseff decided to replace the embattled company's chief executive officer, Maria das Gra├žas Foster. Petroleo Brasileiro SA, as Petrobras is formally known, did not immediately respond to...

  • Feb 3- Factory automation equipment maker Emerson Electric Co's quarterly revenue fell slightly due to a strong dollar and divestitures, and the company said it now expected sales to fall 1-4 percent in 2015.. Emerson blamed a strong dollar, lower oil prices and weakness in Europe, Latin America and the Middle East and Africa region for its weak sales forecast.

  • Feb 3- Spirit AeroSystems Holdings Inc, which makes fuselages for Boeing Co, reported a better-than-expected quarterly profit as the world's largest planemaker bumped up production. Boeing, which contributes about 84 percent of Spirit's annual revenue, delivered 195 commercial aircraft in the fourth quarter, up from 172 last year, and said it would deliver...

  • New York Times quarterly profit falls as costs rise Tuesday, 3 Feb 2015 | 9:02 AM ET

    Feb 3- New York Times Co reported a 9.6 percent drop in quarterly net profit due to costs related to job cuts and increased spending on its digital offerings. The company's net income attributable to shareholders from continuing operations fell to $35 million, or 22 cents per share, in the fourth quarter from $38.7 million, or 24 cents per share, a year earlier.