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  • CHICAGO, Jan 8- Chipotle Mexican Grill, under scrutiny for months over outbreaks of foodborne illness linked to its restaurants across several U.S. states, was sued on Friday for allegedly misleading investors about its food safety controls. The burrito chain failed to disclose that its "quality controls were inadequate to safeguard consumer and employee...

  • NEW YORK, Jan 8- Investors who were bloodied in the year-opening stock rout will be hard pressed to find any salve next week. With prospects dimming for a strong start to earnings season, and worries about slow growth in China continuing to overhang the market, even a price-driven rally may not last beyond a day or three, say longtime market watchers.

  • *Investors cautious on long dollar positions due to China. NEW YORK, Jan 8- The dollar rose on Friday on steps taken by China to ease this week's market turbulence and on U.S. jobs gains in December, but the rise was limited by worries over whether Beijing has done enough to calm its battered stock market. "The market's reaction is something between curious and...

  • WASHINGTON, Jan 8- The U.S. House of Representatives' top tax writer wants a vote this year on legislation moving the United States to a territorial-style tax system aimed at exempting the earnings of American companies abroad from U.S. taxation. International tax reform should be tackled as the first step toward a bigger rewrite of the U.S. tax code that would...

  • Molycorp has said in filings with the U.S. Bankruptcy Court in Wilmington, Delaware, it had received 20 potential bids. On Tuesday, Bloomberg reported that potential buyers from China and Australia submitted nonbinding bids of more than $700 million for Molycorp's processing operations. The auction would include the company's closed mine in Mountain Pass,...

  • Jan 8- Investor confidence deteriorated this week because shareholders felt producers were not being responsive to West Texas Intermediate at $35 per barrel and were focusing on their agility rather than potential production cuts, Goldman Sachs analysts said. ,based on comments from a global energy conference the brokerage hosted in Miami between Jan. 5-7.

  • Drillers removed 20 oil rigs in the week ended Jan. 8, bringing the total rig count RIG-OL-USA- BHI> down to 516, the least since April 2010, oil services company Baker Hughes Inc said in its closely followed report. "Daily fluctuations in oil prices do not have an immediate effect on rig count changes," said Chris Kostas, senior power and gas analyst at Energy Security...

  • SANTIAGO, Jan 8- The union at global miner BHP Billiton's Cerro Colorado copper mine in Chile said on Friday that it will go on strike on Monday over failed contract negotiations. "If the company doesn't offer anything better we will go on strike on Monday," said Leoncio Parra, president of Union 1 at the mine. The union, which represents 682 workers at Cerro Colorado,...

  • ABN Amro cuts 2016 Brent and WTI forecasts by $10- $15. West Texas Intermediate crude turned direction after trading steady earlier on the strength of stocks on Wall Street. Since the selloff in oil began 18 months ago, traders and investors have wondered how long and deep the slide would be as prices fell from above $100 a barrel to below $40, looking to break below...

  • WASHINGTON, Jan 8- Self-driving cars are involved in fewer crashes on average than vehicles with a driver behind the wheel, a study released on Friday by the Virginia Tech Transportation Institute shows. It looked only at Google's fleet of more than 50 self-driving cars, which has logged 1.3 million miles in Texas and California in self-driving mode.

  • Citing unnamed U.S. officials, the Post said the new unit, which would be based at the Department of Homeland Security but which would enlist other federal and local agencies, was expected to be announced later on Friday when senior White House officials meet with Silicon Valley executives.

  • Jan 8- The hedge fund manager Steven A. Cohen has agreed to a two-year ban from supervising funds that manage outside money, to resolve U.S. Securities and Exchange Commission charges that he failed to supervise a former portfolio manager convicted of insider trading. Cohen did not admit or deny the SEC's findings that he failed to properly oversee Mathew...

  • BALTIMORE, Jan 8- Richmond Federal Reserve President Jeffrey Lacker on Friday said persistently strong economic growth would need to be met with more aggressive interest rate hikes by the U.S. central bank.

  • SAO PAULO, Jan 8- Brazilian steelmaker Cia Siderúrgica Nacional has received 10 offers for its Sepetiba Tecon container terminal in Rio de Janeiro's Itaguai port, newspaper Valor Economico reported on Friday. Singapore's PSA International, Chile's SAAM, Wilson Sons and LOGZ, among others, have made non-binding offers, Valor reported without citing its...

  • Jan 8- Oil prices below $40 per barrel are not sustainable for most producers and high cost structures are expected to push more oil producers into preemptive restructurings or bankruptcies in the next 12-18 months, analysts at Wells Fargo Securities wrote in a note. For many producers, breakeven levels continue to stay at about $60 per barrel, almost double the...

  • ANN ARBOR, Mich, Jan 7- Falsetta's Market on Washtenaw Avenue in Ann Arbor, Michigan, has seen new ticket buyers coming out of the woodwork since the Powerball lottery soared to an all-time record high for North America, reaching $700 million on Thursday afternoon. The $700 million jackpot for Powerball, played in 44 states, Washington, and two U.S. territories, is...

  • *Oil prices dip below $33/ barrel before clawing back some ground. Jan 8- U.S. stocks bounced in and out of positive territory in choppy trading on Friday as investors were whipsawed by the effects of fluctuating oil prices and robust U.S. job growth data. Oil prices slipped below $33 per barrel- their lowest in more than a decade.

  • Jan 8- The hedge fund manager Steven A. Cohen has been barred from supervising funds that manage outside money until 2018 to settle charges he failed to supervise a former portfolio manager convicted of insider trading, the U.S. Securities and Exchange Commission said on Friday. Cohen did not admit or deny the SEC's findings related to his oversight of Mathew...

  • MEXICO CITY, Jan 8- Mexico's exchange rate may have been affected by a market over-reaction to China, and once things calm down, it should reflect Mexico's economic fundamentals and appreciate, Bank of Mexico Governor Agustin Carstens said on Friday. Mexico's peso currency has hit a series of record lows against the dollar in recent days, with fears over Chinese...

  • *Average hourly earnings fall one cent. WASHINGTON, Jan 8- U.S. payrolls surged in December and the job count for the prior two months was revised sharply higher, showing the economy on solid ground despite a troubling international backdrop. "It gives us a short-term shot in the arm and pushes back the idea that we are headed for a global recession or that weakness in...