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  • MILAN/ LONDON, Jan 5- European shares closed up on Tuesday, supported by a rally in mining and telecoms stocks, though worries over China persisted a day after poor Chinese factory data triggered a global stock market sell-off. Traders also cited talk that weaker-than-expected inflation data might lead the European Central Bank to do more to stimulate the euro...

  • LONDON, Jan 5- The collapse in relations between Saudi Arabia and Iran after the Saudi execution of a Shi'ite cleric puts an end to speculation that OPEC could somehow agree production curbs to lift the price of oil anytime soon. A Reuters survey of OPEC production showed on Tuesday that Saudi Arabia ended 2015 with its output at full tilt, with no sign of cutting...

  • *Wheat rises from lowest since June 2010. "Grain futures are trying to rebound this morning following Monday's sharp losses," Bryce Knorr, senior editor at Farm Futures Magazine, said in a research note. CBOT March wheat was up 4-3/ 4 cents at $4.63 a bushel at 10:58 a.m. CST on Tuesday.

  • Jan 5- Twitter Inc is building a new feature that will allow users post messages as long as 10,000 characters, Re/code reported. The micro-blogging website, which currently has a 140- character limit, is considering launching the service toward the end of the first quarter, Re/code reported, citing sources familiar with the plans. Twitter was not immediately...

  • Jan 5- Wall Street's industry-funded watchdog is ramping up its scrutiny of high-frequency trading firms as efforts to manipulate U.S. markets through the technology grow more sophisticated, the regulator's chief said on Tuesday. The Financial Industry Regulatory Authority will examine how well high-frequency trading firms are protecting their...

  • WASHINGTON, Jan 5- Online game provider Lumosity has agreed to pay $2 million to settle allegations that it made unfounded claims that its games reduce or delay intellectual impairment that comes with age, the Federal Trade Commission said on Tuesday. "Lumosity preyed on consumers' fears about age-related cognitive decline, suggesting their games could stave...

  • DOMESTIC FARES BY $3 TO MATCH A HIKE BY RIVALS- SPOKESMAN.

  • *Oil prices drop as weak China data, stronger dollar drag. Crude prices also fell on concerns about the pace of growth in China, the world's second-largest oil consumer. "The main reason for the uncertainty is China, given that company numbers and the macroeconomic picture in Europe and the U.S. have not changed," said Alessandro Allegri, chief executive of Italian...

  • Democratic presidential candidate Bernie Sanders, who has made reining in Wall Street a top campaign theme, will warn on Tuesday that financial-sector greed is "destroying the fabric of our nation" and detail his plan to break up big banks, his campaign said. Sanders will deliver what his campaign is calling a "major policy address" on Wall Street reform in New York.

  • BUENOS AIRES, Jan 5- Argentina's peso weakened more than 5 percent against the dollar on Tuesday due to weak dollar inflows from exports, currency traders said. At 1138 ET the peso traded at 13.770 pesos per dollar against an opening price for the session of 13.240. President Mauricio Macri, a free-markets advocate who took office last month, has lifted capital...

  • *Yen rises further on China worries, Saudi-Iran tension. NEW YORK, Jan 5- The yen rose on Tuesday as traders sought safety in the low-risk currency on anxiety about sluggish global growth, further losses in the Chinese stock market and the breakdown in relations between Iran and Saudi Arabia. The yen briefly retreated from Monday's highs after China injected an...

  • Spirit Airlines appoints new CEO; shares soar

    Jan 5- Spirit Airlines Inc on Tuesday named board member Robert Fornaro as chief executive officer, sending its shares up nearly 7 percent. However, recent moves by larger rivals Delta Air Lines Inc and American Airlines Group Inc to match those low prices have hurt unit revenue and pushed Spirit's stock down 46 percent last year. Fornaro headed AirTran for...

  • NEW YORK, Jan 5- DoubleLine Capital, the investment firm with $85 billion in assets overseen by widely followed co-founder Jeffrey Gundlach, posted a net inflow of $1.03 billion into its open-end mutual funds in December, marking the 23rd straight month of inflows. The firm's flagship DoubleLine Total Return Bond Fund had a net inflow of $688.82 million in...

  • NEW YORK, Jan 5- Mutual funds pitched to retail investors as hedge funds for the everyman promise to shield them from market gyrations, but many in 2015 proved just as exposed to market risks as their plain-vanilla counterparts. Last year, 64 alternative mutual funds were liquidated or merged into other funds, compared with 40 funds that were weeded out in 2014,...

  • *Sanofi and Mannkind terminate deal for Afrezza. LONDON, Jan 5- French drugmaker Sanofi is to stop selling an inhalable insulin developed by Mannkind, following disappointing sales of the product since its launch in February 2015. Rights to Afrezza will revert to Mannkind from Sanofi in the next 90 to 180 days and Mannkind said it was reviewing strategic options...

  • Jan 5- Shares of gun manufacturers soared again on Tuesday after President Barack Obama unveiled gun control measures and Smith& Wesson Holding Corp released a more bullish financial outlook. Smith& Wesson shares were up 12.2 percent to $26.12 in morning trade after touching a record high of $26.54 earlier in the session. Following the NICS data and increased...

  • Jan 5- Eli Lilly and Co on Tuesday forecast 2016 revenue below expectations but said that its Jardiance diabetes treatment grabbed market share during the fourth quarter, which helped shares rise as much as 3 percent. Earlier on Tuesday, the company said in a news release that it expected revenue of $20.2 billion to $20.7 billion for 2016, below the average...

  • *Long-dated yields rise on growing calm. NEW YORK, Jan 5- Long-dated U.S. "If today is not a risk-off day, there's a less compelling reason for people who bought long Treasuries yesterday to hold them," said Jonathan Lewis, chief investment officer at Samson Capital Advisors in New York.

  • BERLIN/ WASHINGTON, Jan 5- Volkswagen is struggling to agree with U.S. authorities a fix for vehicles capable of cheating emissions tests, a VW source said on Tuesday, showing how relations between the two sides remain strained four months after the cheating came to light. On Monday, the U.S. Justice Department said it was suing Europe's biggest carmaker for up to...

  • Jan 5- Harman International Industries Inc, best known for its JBL and Harman Kardon audio systems, said it agreed to buy automotive cybersecurity company TowerSec, as part of efforts to boost security of its offerings designed for connected vehicles. Harman, whose biggest business is selling infotainment and audio products to global automakers, did not...