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  • Dec 17- Husky Energy Inc, Canada's No. 3 integrated oil company, said it expects its capital spending to drop by a third in 2015 compared with 2014, becoming the latest Canadian producer to scale back spending as oil prices fall. Husky, controlled by Hong Kong billionaire Li Ka- shing, said it would spend about $3.4 billion in 2015, with about three-quarters going...

  • WASHINGTON, Dec 17- U.S. consumer prices recorded their biggest drop in nearly six years in November as gasoline prices tumbled, but this probably will do little to change views the Federal Reserve will start raising interest rates in mid-2015. The Labor Department said on Wednesday its Consumer Price Index fell 0.3 percent last month, the largest decline since...

  • Novartis sues India's Cipla over respiratory drug Onbrez Wednesday, 17 Dec 2014 | 8:22 AM ET

    MUMBAI, Dec 17- Swiss drugmaker Novartis AG said on Wednesday it had sued India's Cipla Ltd for infringing patents covering its respiratory drug Onbrez, a month after Cipla launched a copy at a fifth of the original drug's price. Cipla, India's fourth-largest drugmaker by revenue, launched its copy of Onbrez in New Delhi in October, citing urgent unmet need for the...

  • CHICAGO, Dec 17- Package delivery company FedEx Corp reported lower-than-expected quarterly profit on Wednesday as U.S. domestic package and international export volumes rose, and reaffirmed its full-year profit outlook. Both FedEx and main rival United Parcel Service Inc are in the final days of their holiday peak season, which has boomed over the past...

  • UPDATE 1-Pozen says FDA rejects lead drug again Wednesday, 17 Dec 2014 | 8:18 AM ET

    Dec 17- Pozen Inc said two versions of its experimental heart drug were rejected for the second time by the U.S. Food and Drug Administration, which again cited deficiencies in the manufacturing plant of a supplier of an active ingredient. Pozen's shares fell nearly 23 percent to $6.99 in premarket trading on Wednesday. Pozen, which first received the rejection...

  • MOSCOW, Dec 17- Prime Minister Dmitry Medvedev called on Russia's top exporters on Wednesday to behave "responsibly" and manage their foreign currency revenues in a way that would not boost rouble volatility, the government's press office said.

  • Currency and stock markets in Asia generally firmed on Wednesday after a two-day sell-off that saw Indonesia's rupiah drop to its weakest level since the Asian currency crisis in 1998 and Thailand's main stock index register its biggest intraday loss since October 2008. Bank Indonesia said it had sold dollars to support the rupiah on Tuesday, and traders...

  • ZURICH, Dec 17- The Swiss government said on Wednesday it had chosen Andrea M. Maechler to become the first female member of the Swiss National Bank's governing board in the central bank's 107- year-history. Maechler will replace board member Fritz Zurbruegg, who will become vice-president of the bank on July 1 after the incumbent Jean-Pierre Danthine retires.

  • MOSCOW, Dec 17- Russia's rouble strengthened on Wednesday after dramatic falls against the dollar in the previous two days but remained extremely volatile and fears of a prolonged crisis remained. "Today it's likely exporters are helping the rouble, though we haven't seen them or the central bank," said Pyotr Neimyshev at Otkritie bank in Moscow.

  • BRUSSELS, Dec 17- The International Monetary Fund estimates Ukraine needs another $15 billion in financing to withstand an economic crisis but the European Union has only limited capacity to help, European Commission President Jean-Claude Juncker said on Wednesday. Ukraine will need $15 billion in addition to what is already planned, "he told the European...

  • LONDON, Dec 17- The dollar edged up on Wednesday, a day after falling amid a flight to safety as a Russian currency crisis took hold and as speculation grew that the Federal Reserve might take a more cautious tone on monetary policy. The rouble's collapse- 50 percent so far this year- slowed slightly as Russia's finance ministry said it had started selling foreign...

  • BRUSSELS, Dec 17- The International Monetary Fund estimates Ukraine needs another $15 billion in financing to withstand an economic crisis but the European Union has only limited capacity to help, European Commission President Jean-Claude Juncker said on Wednesday. "Ukraine will need more help. Ukraine will need $15 billion in addition to what is already...

  • EU'S JUNCKER SAYS IMF ESTIMATES UKRAINE NEEDS ANOTHER $15 BILLION IN FINANCING TO WITHSTAND AN ECONOMIC CRISIS, SAYS EU HAS LIMITED CAPACITY TO HELP.

  • CHICAGO, Dec 17- Package delivery company FedEx Corp reported a 23 percent jump in quarterly profits on Wednesday driven by higher U.S. domestic package and international export volumes, but fell short of analyst expectations. The Memphis- based company reported net income of $616 million for the quarter ending Nov. 30, compared with $500 million a year earlier.

  • UPDATE 5-Oil falls below $59 as OPEC, Russia keep pumping Wednesday, 17 Dec 2014 | 7:55 AM ET

    *OPEC, Russia unwilling to cut supply, spurring weakness. LONDON, Dec 17- Brent crude oil fell below $59 a barrel on Wednesday, near 5-1/ 2- year lows, as major oil producers signalled that they would maintain output despite a supply glut and faltering demand in Russia and Europe. "OPEC is trying to choke U.S. oil producers."

  • US STOCKS-Futures rise ahead of Fed decision Wednesday, 17 Dec 2014 | 7:47 AM ET

    *FedEx shares fall after earnings. NEW YORK, Dec 17- U.S. stock index futures rose on Wednesday, following three days of losses for major Wall Street indexes, ahead of the year's final statement from the U.S. *FedEx shares fell 2.8 percent in light premarket trading after the package delivery company posted quarterly results.

  • Dec 16- Mining equipment maker Joy Global Inc, which gets more than 60 percent of its revenue from coal miners, reported a 4 percent fall in quarterly revenue as customers cut production. Joy Global forecast a profit of $3.10- $3.50 per share for 2015, below the average analyst estimate of $3.57, according to Thomson Reuters I/B/E/S. Overall bookings at Joy Global...

  • General Mills profit falls 37 percent on weak US demand Wednesday, 17 Dec 2014 | 7:25 AM ET

    Dec 17- General Mills Inc, the maker of Cheerios cereal and Betty Crocker cake mixes, reported a 37 percent fall in quarterly profit hurt by weak demand in the United States and slowing growth in Europe and Canada. The company said net income attributable to General Mills fell to $346.1 million, or 56 cents per share, in the second quarter ended Nov. 23 from $549.9...

  • Gulf sell-off fuelled by credit, lax regulation Wednesday, 17 Dec 2014 | 7:18 AM ET

    The stock markets of the Gulf were among the best performers in the world earlier this year, but panicked selling in recent weeks has wiped out all the year's gains in Kuwait, Qatar, Saudi Arabia and the United Arab Emirates. The UAE authorities have noted the negative impact, with a senior central bank official saying on Dec. 9 it was studying proposals for new rules...

  • Gulf sell-off fueled by credit, lax regulation Wednesday, 17 Dec 2014 | 7:18 AM ET

    The stock markets of the Gulf were among the best performers in the world earlier this year, but panicked selling in recent weeks has wiped out all the year's gains in Kuwait, Qatar, Saudi Arabia and the United Arab Emirates. The UAE authorities have noted the negative impact, with a senior central bank official saying on Dec. 9 it was studying proposals for new rules...