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  • Jan 13- U.S. stocks sold off sharply in late Wednesday trading, pushing the S&P 500 below 1,900 for the first time since early October, after the market failed to hold its early rally. Decliners outpaced advancing issues on the NYSE by a ratio of 7.53- to-1 and by 6.44- to-1 on the Nasdaq. These rallies have prevented the market form settling on its lows, "said Michael...

  • HOUSTON, Jan 13- A U.S. safety agency said on Wednesday that a series of problems at Exxon Mobil Corp's California refinery caused an explosion there nearly a year ago, as questions mounted about when the plant, which supplies 10 percent of the state's gasoline supply, would be fixed. An investigator for the U.S. Chemical Safety and Hazard Investigation Board, Mark...

  • Within weeks of the Third Avenue event, examiners at the Securities and Exchange Commission sent detailed requests to mutual funds and exchange-traded funds seeking information about how they price less liquid securities, and whether certain parties have ever challenged those prices, according to a copy of a letter sent by the SEC and viewed by Reuters.

  • WASHINGTON, Jan 13- The U.S. Coast Guard on Wednesday released a proposed acquisition timeline and requirements for two new heavy U.S. icebreakers that could cost $1 billion each and said it would meet with interested companies during an industry day in March. The Coast Guard document was posted on a federal website but details were released only to potential...

  • But Valeant's stock, already down about two-thirds since August, extended losses during the company's presentation at the JPMorgan Healthcare Conference in San Francisco. Shares fell 1.9 percent to $86.21 in New York as the company avoided talking about sensitive areas such as former ties to a specialty pharmacy and investigations into its drug price...

  • ATLANTIC CITY, N.J., Jan 13- Elected officials in Atlantic City, New Jersey's distressed seaside gambling hub, denounced a proposed state takeover of the city's operations on Wednesday, saying similar moves to seize control of school districts in Camden and Newark have failed. "Everything the state of New Jersey operates turns to crap," said Atlantic County...

  • DETROIT, Jan 13- A looming slowdown in global auto demand will test U.S. automakers General Motors Co and Ford Motor Co as they try to funnel more cash to shareholders while still investing adequately in new vehicles and technology. At a conference on the sidelines of the Detroit auto show, the rivals outlined their strategies for an era of slower growth and rapid...

  • NEW YORK, Jan 13- Brent oil prices fell on Wednesday, dropping below $30 a barrel to touch $29.96 for the first time since April 2, 2004.

  • MEXICO CITY, Jan 13- Mexico's embattled ICA plans to launch a venture with assets from the construction firm's homebuilder unit ViveICA and a 1.5 billion peso investment from real estate group Nemesis Capital, a person familiar with the matter said. The venture is part of ICA's efforts to boost liquidity after soaring debts and flagging cashflow pushed...

  • ALBANY, NY, Jan 13- New York Governor Andrew Cuomo on Wednesday presented a $145.3 billion budget that keeps operating funds growth at 1.7 percent for a sixth year, while promising an infrastructure development plan that he said will be the largest in the state's history. The governor outlined his budget as he delivered his sixth state of the state address in New...

  • Al Jazeera America will cease operations by April 30, Qatar- based Al Jazeera Media Network said on Wednesday. The company will instead expand its existing international digital services in the United States, as consumers ditch traditional media and move to mobile devices for news. The network will provide more details about the expansion of its digital...

  • BRENT CRUDE FUTURES FALL BELOW $30 A BARREL FOR THE FIRST TIME SINCE APRIL 2004.

  • Jan 13- Cable news channel Al Jazeera said it will shut down its U.S. operations by the end of April due to economic challenges in the U.S. media market.

  • SANTIAGO, Jan 13- Supply and demand for loans in Chile remained tight in the final three months of 2015, with economic growth still sluggish and consumer and business sentiment shrouded in pessimism, a quarterly central bank poll on credit showed on Wednesday. Thirty-nine percent of banks polled said supply conditions for home loans were more restrictive and...

  • BOSTON, Jan 13- The state of Massachusetts offered diversified manufacturer General Electric Co $120 million in grants and other financial incentives to persuade it to move to Boston, with the city kicking in another $25 million in tax relief, officials said on Wednesday. City and state officials regard the move as the linchpin of an effort to redevelop the...

  • A federal jury in Philadelphia agreed with the U.S. Securities and Exchange Commission that information used by the Capital One ex-employee, Nan Huang, to trade in shares of consumer retail companies ahead of sales and earnings reports was "material" and gave Huang a "significant advantage" over the investing public. The verdict marked a victory for the SEC, which...

  • NEW YORK, Jan 13- Direct-selling and e-commerce company Natural Health Trends Corp rejected allegations that Chinese authorities were investigating it, reversing a drop in its shares fueled by reports about raids in its offices in Beijing. Natural Health, whose subsidiaries sell personal care and wellness products under the NHT Global brand, said Chinese...

  • SAO PAULO, Jan 13- Safra Group, the company running the investments of Lebanese-Brazilian billionaire Joseph Safra, said it has no plans to bid for Swiss private-banking firm BSI Ltd, rebutting a newspaper report on Wednesday stating that a deal was imminent. A New York- based spokesman for the group said in a statement emailed to Reuters that private bank J Safra...

  • WASHINGTON, Jan 13- Branded drug companies hammered out far fewer deals with generic drug makers to delay sales of cheaper medicines in the year after the Supreme Court ruled the Federal Trade Commission could legally pursue such agreements as potentially illegal. The Supreme Court ruling said in June 2013 that the deals could potentially be a violation of...

  • The editorial and business teams at CoinDesk will merge with DCG's new events platform, doubling its size and forming a new New York- based subsidiary focused on providing news coverage, research, and events. CoinDesk's headquarters were moved to New York from London, Selkis said. The media outfit currently has 10 employees, plus contributors spread across two...