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  • RALEIGH, N.C., Jan 7- The Federal Reserve might need to raise interest rates more than four times this year if oil prices stabilize, the dollar stops appreciating and inflation surges toward the U.S. central bank's 2 percent target, a Fed policymaker said on Thursday. Richmond Federal Reserve President Jeffrey Lacker told a business association in Raleigh, North...

  • *China stocks slump; trigger 2nd trading halt this week. Jan 7- Wall Street was set to open sharply lower for a second straight day on Thursday after China allowed the yuan to fall further and oil prices slid to near 12- year lows, raising concerns over the state of the global economy. China allowed the biggest fall in the yuan in five months, and Shanghai stocks were...

  • OTTAWA, Jan 7- Weakness in the Canadian dollar is the most important factor in helping Canada adjust to low commodity prices, Bank of Canada Governor Stephen Poloz said in a speech on Thursday, pledging to steer monetary policy independently of the U.S. Poloz repeated past language about how the decline in oil and commodity prices was "unambiguously bad" for...

  • Jan 7- Alcoholic beverage maker Constellation Brands Inc reported better-than-expected quarterly net sales and profit, and said it plans to spend $1.5 billion to build a brewery in Mexico to meet growing demand for its Mexican beer brands. Net sales of beer rose 8 percent to $831.3 million in the third quarter ended Nov. 30, accounting for more than half of the...

  • DUBAI, Jan 7- Iran and Saudi Arabia took further steps to sever commercial ties on Thursday, intensifying a feud between the regional rivals, as Tehran announced a ban on imports from Saudi Arabia and Saudi groups called for boycotts of Iranian products. Trade between Saudi Arabia and Iran is small compared with the size of their economies, but tens of thousands of...

  • *MSCI All World index hits 3- month low. *Wall Street set to open over 2 pct down. LONDON, Jan 7- Global shares tumbled for a sixth day on Thursday and oil prices slid to levels not seen since the early 2000 s, after China guided the yuan lower and Shanghai shares tumbled 7 percent in less than half an hour.

  • Pedestrians pass a JC Penney store in New York.

    J.C. Penney's same-store sales rose 3.9 percent in November and December due to strong demand for its private-label offerings and higher online sales.

  • LONDON, Jan 7- This is set to be the year in which the London Metal Exchange finally kills off the load-out queues that have plagued its physical delivery network over the last five years. But the cost of doing so has just become apparent. Average storage rents and load-out charges, weighted by stock levels at the end of November, will jump by 10 percent and 12 percent...

  • Jan 7- J.C. Penney Co Inc said same-store sales surged during the holiday shopping months of November and December due to strong demand for its private-label offerings and gift products and higher online sales. J.C. Penney's strong results were in stark contrast to those of rival Macy's Inc, which reported a 4.7 percent drop in comparable sales on Wednesday and...

  • *Soybeans fall back towards 6- week low after bounce. *China jitters, South America supply keep mood bearish. PARIS/ SINGAPORE, Jan 7- U.S. corn slipped on Thursday towards the low hit a day earlier while soybeans and wheat also eased as a financial markets sell-off fuelled by China jitters added to bearish sentiment about bumper South American crops.

  • SINGAPORE, Jan 7- Standard& Poor's cut its credit rating on Noble Group to junk on Thursday, adding to concerns about financing costs for Asia's biggest commodity trader a week after a similar downgrade by Moody's Investors Service. Noble's shares have fallen by around 70 percent since mid-February after blogger Iceberg Research questioned the company's...

  • Jan 7- Dynavax Technologies Corp said its experimental hepatitis B vaccine was found to be safe and effective in a late-stage study, sending its shares up 9.4 percent in premarket trading. An earlier application was rejected by the FDA in February 2013. Dynavax's shares closed at $21.18 on the Nasdaq on Wednesday.

  • Jan 7- Canadian department store operator Hudson's Bay Co has agreed to buy online luxury retailer Gilt Groupe Holdings Inc for about $250 million. Hudson's Bay expects the deal to add about $500 million to its 2016 total sales, the company said on Thursday. Hudson's Bay, which has a market value of about C $3 billion, said it plans to open Gilt shops inside its Saks...

  • Jan 7- Constellation Brands Inc reported a 6.4 percent rise in third-quarter net sales, helped by higher demand for its Corona and Modelo beer brands. Net income attributable to the company rose to $270.5 million, or $1.33 per share, in the quarter ended Nov. 30, from $222.2 million, or $1.10 per share, a year earlier. Constellation also said it plans to build a new...

  • LONDON, Jan 7- Oil prices hit their lowest in more than a decade and industrial metals slid on Thursday after China guided the yuan lower and another rout in Chinese equities sent world shares tumbling for a sixth day, fuelling fears of a global slowdown. Gold prices were a rare bright spot, with the metal rising above $1,100 an ounce for the first time since November...

  • Walgreens, which offered to buy Rite Aid for $9.4 billion in October, said the deal was progressing as planned. Walgreens said it now expected an adjusted profit of $4.30- $4.55 per share for the year ending August, compared with $4.25- $4.55 it had forecast earlier. The net income attributable to Walgreens rose to $1.11 billion, or $1.01 per share, in the first...

  • Jan 7- Charles River Laboratories International Inc said it would buy privately held WIL Research for about $585 million in cash to enhance its contract research business and expand in continental Europe. The purchase of the Ashland, Ohio- based firm will add at least 20 cents per share to adjusted earnings in 2016, and 45 to 50 cents per share in 2017, Charles...

  • Jan 7- Dutch biotech UniQure NV said on Thursday its experimental gene therapy for a blood disorder benefited some patients in an early-stage study, sending its shares up about 20 percent in light premarket trading. UniQure said after being treated with the drug, four out of five patients were able to fully discontinue taking prophylactic rFIX, which is...

  • *Congress wants written proposals from govt on GST. *Govt says has accepted demands set by Congress. NEW DELHI, Jan 7- India's Congress party on Thursday rebuffed suggestions of a breakthrough on a landmark tax reform, hours after the government said it had accepted the demands set by the main opposition party to back the measure.

  • Jan 7- Dynavax Technologies Corp said its experimental hepatitis B vaccine was found to be safe and effective in a late-stage study. The company's shares were up 8.6 percent at $23 in premarket trading. The drug, HEPLISAV-B, was more effective than a currently marketed vaccine, Engerix-B, the drug developer said on Thursday.