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  • Co-op Bank nearly collapsed in 2013 mainly because of losses from problem real estate loans. "The actions of Mr Tootell and Mr Alderson posed an unacceptable threat to the safety and soundness of the Co-op Bank which is why we have decided a prohibition is appropriate in these cases," Andrew Bailey, chief executive of the Bank's Prudential Regulation Authority,...

  • Jan 15- Citigroup Inc, the No.3 U.S. bank by assets, reported a massive jump in quarterly profit as costs plunged from a year earlier, when the bank took $3.5 billion in legal and repositioning charges. Citi, which has been restructuring to focus on more profitable businesses and promising markets, said net profit rose to $3.34 billion, or $1.02 per share, in the fourth...

  • *Iran has complained shipments irregular, below terms of contract. *No exports since Iran stopped paying in September- source. NEW DELHI, Jan 15- India's largest-ever steel export deal, struck with Iran in 2014 to allow it to buy the metal without violating Western sanctions that are now set to end, has become mired in a dispute that has seen no payments made or...

  • Jan 15- Billionaire Ron Perelman, the majority owner of Revlon Inc, said he would seek strategic alternatives for the cosmetics maker.

  • LONDON, Jan 15- Workers at Exxon Mobil's 300,000- barrels-per-day Antwerp refinery in Belgium have cancelled a planned walk-out after agreeing to a proposed deal from the company, a union spokesman said on Friday.

  • *Oil sinks below $30 a barrel. LONDON, Jan 15- The Australian, New Zealand and Canadian dollars all sank on Friday on the back of another slide in Chinese stock markets and an almost 5 percent tumble in oil prices to less than $30 a barrel. The dollar fell roughly half a percent against both the euro and yen and China's yuan was also back under pressure in offshore...

  • WASHINGTON, Jan 15- The Obama administration will announce the next steps in its effort "to strengthen and modernize" the nation's coal program later on Friday, the U.S. Interior Department said in a statement.

  • MOSCOW, Jan 15- Russia's second-largest oil producer Lukoil is leaving projects in Ivory Coast, Interfax news agency reported on Friday, citing a source.

  • *Iran sanctions could be lifted within days. *OPEC crude basket drops to $25 per barrel. The International Atomic Energy Agency could issue its report on Iran's compliance with an agreement to curb its nuclear program during a Friday meeting in Vienna, potentially triggering the lifting of Western sanctions.

  • MUMBAI, Jan 15- Indian drugmaker Wockhardt Ltd said the U.S. Food and Drug Administration had issued a notice outlining manufacturing violations at its Shendra plant in western India, delaying the company's plans to rebuild its battered U.S. business. In a so-called' Form 483' issued to the company after a recent inspection of the plant, the FDA listed nine...

  • BRASILIA, Jan 15- Economic activity in Brazil slowed in November for the ninth straight month as the country sank into one of the world's deepest recessions for the year, but the drop was smaller than expected due to a surprise increase in retail sales. Economic activity plunged 6.14 percent from November 2014, highlighting the intensity of a recession that has...

  • Jan 15- U.S. stock index futures were sharply lower on Friday, as oil prices dived below $30 per barrel, sending fresh tremors through financial markets globally as investors fret about a prolonged economic slowdown. *Brent crude prices, which have fallen 20 percent this year, were down nearly 5 percent as the market braced for oil from Iran to flood an already...

  • Jan 15- Heron Therapeutics Inc said the U.S. Food and Drug Administration had postponed a decision on its injectable drug to treat chemotherapy-induced nausea. The FDA is now expected to decide on Sustol by late February instead of the earlier deadline of Sunday, Heron said on Friday. Chemotherapy-induced nausea and vomiting, considered one of the most acute...

  • SANTIAGO/ LONDON, Jan 15- Chile-headquartered LATAM Airlines has signed joint business agreements to deepen its ties with American Airlines Group and IAG's British Airways and Iberia, all members of the Oneworld Alliance. Davy analyst Stephen Furlong said the new agreement would give LATAM and IAG about a third of the capacity on Europe to South America...

  • Net income at the world's largest asset manager rose to $861 million, or $5.11 per share, in the fourth quarter from $813 million, or $4.77 per share, a year earlier. On an adjusted basis, New York- based BlackRock earned $4.75 per share, falling short of the average analyst estimate of $4.80, according to Thomson Reuters I/B/E/S. BlackRock experienced total...

  • LONDON, Jan 15- Euro zone yields fell on Friday as slumping oil prices eroded inflation expectations and the biggest week of debt supply in nearly three years drew to a close. Unscheduled debt sales from Spain, Portugal, Belgium and Slovakia this week combined with auctions pushed euro zone debt issuance to a level not matched since May 2013, according to...

  • *Capacity closures centred at high-cost Shandong, Henan provinces. MELBOURNE, Jan 15- Large Chinese alumina refineries have started slashing output as rock bottom aluminium prices mean most of them are running into losses, state-backed research house Antaike said, in a move that could help curb China's breakneck output of the metal. World prices for aluminium-...

  • LONDON, Jan 15- Trading volumes on the London Metal Exchange fell by 4.3 percent in 2015.. Such broader market turbulence, however, doesn't explain why the CME's copper contract registered year-on-year growth of 16.4 percent against the LME contract's 0.5 percent, nor why base metal volumes on the Shanghai Futures Exchange have been booming.

  • *March wheat in Paris falls to contract low. LONDON, Jan 15- Wheat prices fell on Friday as increasingly ample supplies continued to drive prices down while soybean and corn futures also dropped. March wheat on the Chicago Board of Trade was 0.3 percent lower at $4.67-1/ 4 a bushel at 1133 GMT.

  • Jan 15- Heron Therapeutics Inc said the U.S. Food and Drug Administration will delay a decision on its injectable drug to treat chemotherapy-induced nausea.