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  • *Freeport faces difficult journey to extend mining contract. Freeport's long-held desire to continue mining in Indonesia beyond 2021 has been beset by controversy, including cabinet infighting, resignations and a major political scandal that led to the resignation of the parliamentary speaker. "The last couple of months have been a total disaster for...

  • DAVOS, Switzerland, Jan 19- More than a trillion dollars of investment flows has fled emerging markets over the past 18 months but the exodus may not even be halfway done, as once-booming economies appear trapped in a slow-bleeding cycle of weak growth and investment. While developing economies are no stranger to financial crises, with several currency and debt...

  • Delta, the third-largest U.S. airline by capacity, said its adjusted profit in the fourth quarter grew 43 percent to $926 million, or $1.18 per diluted share. Analysts on average estimated Delta would earn about $928 million, or $1.19 per diluted share, according to Thomson Reuters I/B/E/S. It has a limited number of flights to Dallas and Chicago, where competition...

  • Reflecting this, Bank of America's provision for credit losses in global banking increased by $264 million in the quarter ended Dec. 31, mainly due to higher energy-related charge-offs and reserve increases for energy exposure. BofA said its net income attributable to common shareholders rose to $3.01 billion, or 28 cents per share, in the quarter, from $2.74...

  • UnitedHealth said that it had $245 million of losses in the fourth quarter on its individual health insurance exchange business and $720 million in losses for the full year. BMO Capital Markets analyst Jennifer Lynch said in a research note that she had expected a figure of 83 percent and Mizuho Securities analyst Sheryl Skolnick said her estimate was 83.3...

  • BAGHDAD, Jan 19- Iraq wants foreign oil companies to cut spending as the nation seeks to narrow a budget gap caused by lower crude prices, oil minister Adel Abdul Mahdi said in a statement on Tuesday. "The ministry is discussing reducing financial spending by foreign companies," he told a meeting of the oil fields' joint management committees in Baghdad.

  • Brent crude futures have fallen to their lowest level since late 2003, tumbling below $30 a barrel, after OPEC said in December it would not cut output to halt the price slide despite global oversupply. "Although we do not formally forecast OPEC oil production, in a scenario whereby Iran adds 600,000 bpd to the market by mid-year and other members maintain...

  • Potash Corp, which had more than 5,000 employees worldwide at the end of 2014, said it would retain 35 employees at Picadilly to keep the operation in "care-and-maintenance" mode. Potash Corp said it expected to recognize severance and transition costs of about $35 million in the first quarter as a result of suspending operations at Picadilly.

  • CHICAGO, Jan 19- Farmers have ramped up construction of swine farm buildings in Iowa, home to about a third of U.S. hogs, as they take advantage of cheap feed and strong demand for pork from countries including China and Mexico. Last year, Iowa farmers built 280 hog barns capable of holding more than 1,250 head, over 60 percent more than 2014 but shy of the 347...

  • LAGOS, Jan 19- Nigeria will start enforcing its stamp duties law on financial transactions across commercial banks, the central bank said on Tuesday- a bid to shore up non-oil revenue and plug shortfalls caused by the precipitous drop in global crude prices. Nigeria plans to spend about 6 trillion naira in 2016 with expected revenue of around 3.9 trillion naira,...

  • The company said on Tuesday that it expected to record pre-tax restructuring charges of $2.0 billion to $2.4 billion in connection with these plans, of which about $600 million will be recorded in the fourth quarter of 2015.. The restructuring is expected to result in annualized pre-tax cost savings of $800 million to $1 billion, J&J said.

  • PARIS/ SINGAPORE, Jan 19- Chicago soybean and corn futures climbed to four-week highs on Tuesday as the risk of rain disruption to Brazil's soybean harvest and investor hopes of stimulus measures in China helped grain markets shake off bearish supply fundamentals. U.S. wheat was also higher as a technical bounce from contract lows in Paris offset pressure from...

  • Jan 19- U.S. stock index futures were higher on Tuesday after China's slowest annual growth rate in 25 years raised hopes of further stimulus measures from Beijing. *China's 2015 growth hit 6.9 percent after the fourth quarter slowed to 6.8 percent, capping a tumultuous year in which concerns about Beijing ability to rebalance the slowing economy have rattled...

  • LONDON, Jan 19- Let's face it, lead is not exactly the sexiest of metals. It's never caught the collective investment imagination in the way that copper has over the years. Indeed, the only interaction that most of us have with the stuff is in the form of an automotive battery and even then only when the battery fails.

  • Jan 19- Potash Corp of Saskatchewan said it would "indefinitely" suspend potash mining at Picadilly, New Brunswick in Canada in response to weakening demand for the crop nutrient. Potash Corp, which had more than 5,000 employees worldwide at the end of 2014, said the suspension would lead to 420-430 job cuts in New Brunswick. The company said it would retain 35...

  • BofA, the No. 2 U.S. bank by assets, said its net income attributable to common shareholders rose to $3.01 billion, or 28 cents per share, in the three months ended Dec. 31, from $2.74 billion, or 25 cents per share, a year earlier. BofA, whose shares were up 1.6 percent in premarket trading, has been hit by high legal costs since the financial crisis, undermining many of the...

  • *Liquidity traditionally is tight before Lunar New Year. BEIJING, Jan 19- China's central bank said on Tuesday that it will inject more than 600 billion yuan to help ease a liquidity squeeze expected before the Lunar New Year in early February. The central bank pledged to keep liquidity in the banking system "reasonable and adequate" and keep market interest rates...

  • BRASILIA/ SAO PAULO, Jan 19- Brazil's central bank chief, Alexandre Tombini, said on Tuesday policymakers will take into consideration a "significant" cut in the country's growth outlook when deciding on interest rates on Wednesday. The unusual statement from Tombini commenting on the International Monetary Fund's decision to lower Brazil's growth outlook...

  • The Atlanta- based airline earned $980 million in the fourth quarter. On an adjusted basis, it grew profit by 43 percent to $926 million, or $1.18 per diluted share. Analysts on average estimated Delta would earn about $928 million, or $1.19 per diluted share, according to Thomson Reuters I/B/E/S.

  • Jan 19- Upscale jeweler Tiffany& Co's holiday season sales fell 6 percent, hurt mainly by a stronger dollar and a drop in spending by tourists in the United States. Comparable sales in the Americas fell 8 percent on a constant currency basis in the holiday shopping period ending Dec. 31, hit by lower foreign tourist spending in New York, where the company's flagship...