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  • Detroit's civilian retiree group makes pension deal Friday, 2 May 2014 | 5:51 PM ET
    People, mostly union and retired city workers, protest in front of the U.S. Courthouse, October 23, 2013, Detroit, Michigan.

    The group representing the largest block of Detroit's retired workers on Friday agreed to accept the city's proposed cuts to their pension benefits.

  • OMAHA, Neb., May 2- Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly profit declined 4 percent, falling short of analyst forecasts, as earnings from insurance underwriting declined and bad weather hurt results at its BNSF Railway unit.

  • NEW YORK, May 2- JPMorgan Chase& Co expects second-quarter revenue from bond and equity trading to decline by about 20 percent from a year earlier, the biggest U.S. bank by assets said on Friday.

  • President Barack Obama and German Chancellor Angela Merkel warned Russia on Friday it will face additional sanctions against key sectors of its economy if Moscow disrupts Ukraine's plan to hold elections on May 25.

  • May 2- TransCanada Corp, Canada's No.2 pipeline company and the backer of the Keystone XL pipeline, reported a 14 percent rise in adjusted quarterly profit as an unusually harsh winter in North America boosted demand for its pipelines.

  • OMAHA, Neb., May 2- Warren Buffett's Berkshire Hathaway Inc is expected to attract about 38,000 people to Omaha, Nebraska this weekend for its annual shareholder weekend, including its annual meeting.

  • OMAHA, Neb., May 2- Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly profit fell 4 percent, as earnings from its insurance underwriting operations declined. Net income fell to $4.71 billion, or $2,862 per Class A share, from $4.89 billion, or $2,977, a year earlier.

  • May 2- The U.S. Treasury Department said on Friday that the Internal Revenue Service this year and next will take into account "good faith efforts" by foreign banks to comply with a new U.S. anti-tax evasion law set to take effect on July 1.

  • TORONTO, May 2- SNC-Lavalin Group Inc is optimistic about making new construction and engineering acquisitions after selling its AltaLink asset to Berkshire Hathaway Inc for C $3.2 billion, SNC's chief executive said on Friday. Montreal- based SNC is Canada's largest construction and engineering firm.

  • WASHINGTON, May 2- The U.S. government will create a million-barrel gasoline reserve in the Northeast, a reaction to the aftermath of Superstorm Sandy in 2012 when motorists were left without fuel, exposing vulnerabilities in the fuel distribution network.

  • WASHINGTON, May 2- President Barack Obama and German Chancellor Angela Merkel could not hide differences on Friday over U.S. surveillance practices despite Obama's offer of "cyber dialogue" with Berlin and pledge to bridge gaps that have tarnished their relationship.

  • May 2- Twitter Inc's six-month lock-up period is set to expire on May 5, removing restrictions on the sale of about 470 million shares, or roughly 82 percent of its outstanding shares. Twitter's co-founders and an investor, together holding about 109 million shares, have said they would not sell their stake immediately after the expiry of the lock-up.

  • LOS ANGELES/ SAN FRANCISCO, May 2- Comcast Corp may soon allow customers using its cloud-connected X1 cable box system to buy games from Electronic Arts Inc through their televisions, according to five sources briefed on the plans.

  • NEW YORK, May 2- U.S. stocks eased on Friday as concerns about more violence in Ukraine prompted profit-taking ahead of the weekend, offsetting optimism about an upbeat jobs report.

  • NEW YORK, May 2- Currency traders briefly boosted the dollar on Friday on news of surprisingly strong hiring that took the U.S. unemployment rate in April to a 5-1/ 2- year low before surrendering the gains on data signalling many Americans were exiting the labor force.

  • BOSTON, May 2- At least five senior executives have left Russian computer security software company Kaspersky Lab in the past month due to a disagreement over the way it is being run under its chief executive and co-founder, Eugene Kaspersky.

  • NEW YORK/ LONDON, May 2- Gold rose more than 1 percent on Friday, its biggest daily gain in two months, as rising geopolitical tensions and heavy short-covering helped bullion reverse an initial sharp sell-off after mixed U.S. job data.

  • NEW YORK, May 2- California is investigating whether top mobile carriers Verizon Communications Inc and AT&T Inc illegally disposed of hazardous waste at their facilities in the state, the companies said in recent filings with the U.S. Securities and Exchange Commision.

  • *Russia calls for U.N. meeting on Ukraine- reports. NEW YORK, May 2- Yields on U.S. 30- year bonds dropped to their lowest in more than 10 months on Friday, falling for a fourth straight session, as concerns about Russia and Ukraine overshadowed an upbeat U.S. employment report.

  • President Barack Obama and German Chancellor Angela Merkel warned Russia on Friday it will face additional sanctions against key sectors of its economy if Moscow disrupts Ukraine's plan to hold elections on May 25.