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  • Salix Pharma to restate past seven quarters' results Wednesday, 28 Jan 2015 | 5:02 PM ET

    Jan 28- Salix Pharmaceuticals Ltd said it will restate its financial statements for all of 2013 and the first three quarters of 2014 due to errors relating to, among others, the timing of revenue recognition. The drugmaker said the cumulative impact of the restatement will decrease reported net product revenue by about $20.7 million and net income by about...

  • Fed nods to global troubles, while keeping faith in U.S. Wednesday, 28 Jan 2015 | 4:58 PM ET

    WASHINGTON, Jan 28- For months now Federal Reserve policymakers have watched the economic turmoil overseas, from Ebola to Russia to the ongoing travails of the euro, and largely held their tongue. That's the first time since January 2013 that an overt reference to overseas economic events has warranted a nod from the Federal Open Market Committee, and some...

  • DETROIT, Jan 28- General Motors Co on Wednesday said it does not plan to extend a Jan. 31 deadline to file claims in its faulty ignition switch compensation program, rejecting pleas from two U.S. senators to extend the deadline. GM in a statement said it had already extended the deadline once to Jan. 31 and does not plan to make another extension. As of Jan. 23, the...

  • NEW YORK, Jan 28- A federal judge on Wednesday said U.S. investors may pursue a nationwide antitrust lawsuit accusing 12 major banks of rigging prices in the $5.3 trillion- a-day foreign exchange market. The bank defendants include Bank of America Corp, Barclays Plc, BNP Paribas SA, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group Inc, HSBC...

  • WASHINGTON, Jan 28- The Federal Reserve on Wednesday said the U.S. economy was expanding "at a solid pace" with strong job gains in a signal that the central bank remains on track with its plans to raise interest rates this year. "The committee, in fact, was downright bullish on current economic conditions and the outlook," said Paul Edelstein, director of financial...

  • *Fed says to keep "patient" approach on rates. NEW YORK, Jan 28- U.S. stocks closed down on Wednesday, driven by a sharp decline in the S&P 500 energy sector, after the Federal Reserve said the domestic economy was growing at a solid pace, signaling it remains on track to raise interest rates later this year. While many market participants said they were unsurprised by the...

  • GLOBAL MARKETS-U.S. bonds rally after Fed; stocks retreat Wednesday, 28 Jan 2015 | 4:40 PM ET

    *U.S. stocks end lower after Fed statement. NEW YORK, Jan 28- U.S. bond prices rallied, with the 30- year yield hitting a record low on Wednesday as investors bet U.S. rate hikes were less likely to start soon after the Federal Reserve said inflation was running below forecasts. Thirty-year bonds were last up 2-18/ 32 in price to yield 2.29 percent after setting a record...

  • BOSTON, Jan 28- Two executives at hedge fund Fortress Investment Group are leaving the firm after its macro fund suffered heavy losses in the wake of recent currency market upheaval, three sources familiar with the moves said. Sweillam has been with Fortress since 2013, and his duties will be taken up by global head of trading Timothy Durnan, the sources said.

  • SAN FRANCISCO, Jan 28- Qualcomm Inc reduced its outlook for fiscal 2015, saying it expects its newest Snapdragon mobile chip will not be used in a major customer's flagship smartphone, sending its shares lower. Qualcomm posted higher fiscal first-quarter revenue that beat analysts' expectations as a year-long antitrust investigation in China weighed on...

  • NEW YORK, Jan 28- Bullish activity in Advent Software Inc's options surged weeks ahead of a report on Wednesday that U.S. financial software company SS&C Technologies Holdings Inc plans to buy Advent for about $2.3 billion. San Francisco- based Advent Software's shares jumped as much as 13 percent to an all-time high of $42.85 on Wednesday, after a Bloomberg...

  • UPDATE 1-Facebook tops Wall Street revenue target in Q4 Wednesday, 28 Jan 2015 | 4:24 PM ET

    SAN FRANCISCO, Jan 28- Facebook Inc's revenue grew 49 percent in the fourth quarter, as strength in mobile advertising helped the world's largest Internet social network beat Wall Street's target. Facebook's fourth-quarter overall revenue grew at the slowest rate since the beginning of 2013, to $3.85 billion, compared to $2.59 billion in the year-ago period.

  • Citrix to cut about 900 jobs Wednesday, 28 Jan 2015 | 4:24 PM ET

    Jan 28- Cloud-computing software maker Citrix Systems Inc said it would cut about 700 full-time and 200 contractor jobs as part of a restructuring plan to improve operational efficiency. The company said it expects to incur pre-tax charges of $40- $45 million related severance and $9- $10 million related to the consolidation of leased facilities in the year...

  • TREASURIES-Prices jump on dovish view of Fed statement Wednesday, 28 Jan 2015 | 4:11 PM ET

    *Inflation linked bond yields fall. NEW YORK, Jan 28- U.S. Thirty-year bonds were last up 2-18/ 32 in price to yield 2.29 percent after touching a new low of 2.273 percent, according to Thomson Reuters data.

  • CHICAGO, Jan 28- U.S. grain farmers are boosting demand for loans from farm banks as five-year lows in crop prices squeeze operating budgets ahead of spring planting, according to a national survey of farm bankers issued by the Federal Reserve Bank of Kansas City on Wednesday. Corn prices set record highs during the summer of 2012 amid the biofuels boom and...

  • Facebook Q4 revenue grows 49 percent Wednesday, 28 Jan 2015 | 4:07 PM ET

    SAN FRANCISCO, Jan 28- Facebook Inc said on Wednesday its revenue grew 49 percent in the final three months of 2014, as strength in mobile advertising helped the Internet social networking company beat Wall Street's revenue target.

  • Jan 28- German genetic test maker Qiagen NV's quarterly profit fell short of market expectations as U.S. sales of its human papilloma virus test declined and the dollar strengthened. Qiagen said on Wednesday that sales of its HPV test in the United States fell a greater-than-expected 59 percent, reducing adjusted net sales by 5 percentage points.

  • NEW YORK, Jan 28- U.S. stocks fell sharply on Wednesday after the Federal Reserve said the domestic economy was growing at a solid pace, signaling it remains on track to raise interest rates later this year. Both the Dow and S&P 500 fell more than 1 percent, while Apple limited the Nasdaq's decline. The tech giant jumped 6.1 percent a day after its results.

  • FOREX-Dollar holds gains, Fed remains patient on policy Wednesday, 28 Jan 2015 | 3:59 PM ET

    *Fed holds rates unchanged, repeats it is patient on policy. *New Zealand dollar drops to near four-year low. NEW YORK, Jan 28- The U.S. dollar strengthened on Wednesday in a broad advance that included gains against the euro and the Swiss franc, taking in stride the Federal Reserve's repeated message it remains "patient" in deciding when to raise interest rates.

  • Jan 28- Fuelcell maker Plug Power Inc tempered its sales forecast for 2015, saying it had decided to issue numbers "people could rely" on after receiving "a lot of criticism for under-delivering." The company's shares fell as much as 10 percent to $2.86 on Wednesday, after Chief Executive Andy Marsh said Plug Power now expected sales "in excess of $100 million.

  • NAFTA panel halts probe of Canadian oil sands oversight Wednesday, 28 Jan 2015 | 3:52 PM ET

    The complainants argued that Canada was failing to enforce environmental laws related to alleged leaks from industry tailings ponds into water in northern Alberta. Canada has said both the federal government and provincial government in Alberta are enforcing their environmental laws. Canada argued that the probe would interfere with ongoing...