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  • Dec 17- Oracle Corp posted a 3.5 percent rise in total revenue in the company's first quarter since Larry Ellison stepped down as chief executive, bolstered by a 45 percent jump in its fast-growing cloud services business. Investors have been carefully watching how Oracle beefs up its "cloud" divisions, which deliver software over the Internet, as a gauge for how...

  • Dec 17- After twenty years, Thomas Herzfeld's long bet on Cuba is paying off. The Miami Beach- based portfolio manager behind the $25.3 million Herzfeld Caribbean Basin fund, the only Cuba- focused fund in the United States, watched its shares soar more than 40 percent at one point on Wednesday after President Barack Obama's surprise move to thaw relations with the...

  • CALGARY, Alberta, Dec 17- Chevron Corp is putting a plan to drill for oil in the Beaufort Sea in Canada's Arctic on hold indefinitely because of what it called "economic uncertainty in the industry" as oil prices fall. In a letter to Canada's National Energy Board on Wednesday, the company withdrew from a hearing on Arctic drilling rules because it has walked away...

  • VANCOUVER, Dec 17- Canada is looking for 50 wealthy foreigners to join a pilot run of an immigration program for millionaires, although applicants will have to be far richer than those who entered under a previous scheme and will also need language skills to get in. The federal government, which scrapped its previous investor class visa earlier this year amid...

  • WASHINGTON, Dec 17- Democratic Senator Ron Wyden, chairman of the U.S. Senate Finance Committee, asked the International Trade Commission on Wednesday to begin a study of the economic impact on the United States of current restrictions on exports to Cuba. He said the study, ordered in light of President Barack Obama's easing of trade restrictions on Cuba, would...

  • Dec 17- Tetraphase Pharmaceuticals Inc said its antibiotic to treat complicated intra-abdominal infections was as effective as Merck& co Inc's ertapenem in a late-stage study. Tetraphase is also testing the drug against Johnson& Johnson's levofloxacin to treat complicated urinary tract infections in another late-stage study, the results of which are...

  • Dec 17- Jabil Circuit Inc, which makes phone casings for Apple Inc, forecast revenue for the current quarter to be above market estimates as sales of iPhone 6 and 6 plus continue to ramp up. Apple, Jabil's biggest customer, had said it sold a record 10 million iPhones in the first weekend after its new, larger phone models went on sale in 10 countries in September.

  • Dec 17- AK Steel Holding Corp said it expects shipments to jump 37 percent to 2 million tons in the current quarter from the previous quarter, helped by acquisitions and strong demand from the auto industry.

  • Sony executives told theatres the studio would not pull the comedy. The unidentified hackers have exposed thousands of Sony's internal documents and emails to public scrutiny. "I explained that we wanted to act in a responsible fashion and that the film was designed to entertain and not to make a political statement," Lynton said, in the June 26 email to Sony...

  • NEW YORK, Dec 17- The S&P 500 scored its best day since October 2013 on Wednesday as the Federal Reserve gave an upbeat assessment of the economy and said it would take a patient approach toward lifting interest rates. "This is the market saying,' Ah, I get it,' the Fed does not want to be in the business of disruption, this is a steady monetary policy and the Fed will continue...

  • BOSTON, Dec 17- A top Herbalife salesman said that most people who sell the company's weight loss and nutrition products are doomed to fail, adding fresh grist to accusations by a hedge fund manager that the company is a fraud. Gratziani is a member of Herbalife's elite Chairman's Club sales team. The video of that training session was released publicly on...

  • *Gasoline prices post biggest drop since December 2008. The Labor Department said on Wednesday its Consumer Price Index fell 0.3 percent, the largest decline since December 2008, after being flat in October. "Conditions could be in place to raise rates during the first half of next year," said Joel Naroff, chief economist at Naroff Economic Advisors in Holland,...

  • COLUMN-Fed playing patience as inflation lags: James Saft Wednesday, 17 Dec 2014 | 4:34 PM ET

    Dec 17- Call it patience or any of the rest of the seven virtues if you like, but the truth is that the Fed can't raise interest rates because inflation won't play along. The Federal Reserve said on Thursday it is prepared to be "patient" before hiking rates but that this means the same as its former future guidance of a "considerable time." Fed chair Janet Yellen at the...

  • NEW YORK, Dec 17- Pimco posted a record total outflow of $5.8 billion from its emerging market funds in the first 11 months of 2014, according to Morningstar data released on Wednesday. Pimco's funds have suffered from ill-timed investment bets in Russia, Ukraine, Brazil and Venezuela along with the ongoing flight by investors from emerging markets and the...

  • ICE proposes dropping fee for trading stocks-WSJ Wednesday, 17 Dec 2014 | 4:21 PM ET

    Dec 17- Intercontinental Exchange Inc is proposing a trade-off between exchanges and brokers that would include cutting fees for trading stocks, the Wall Street Journal reported, citing people familiar with the matter. The New York Stock Exchange would drop the fee for trading stocks at its exchanges to 5 cents per 100 shares from 30 cents, the Journal said,...

  • Tetraphase's antibiotic succeeds in late-stage trial Wednesday, 17 Dec 2014 | 4:19 PM ET

    Dec 17- Tetraphase Pharmaceuticals Inc said its antibiotic drug to treat complicated intra-abdominal infections was as effective as Merck& co Inc's ertapenem in a late-stage study. Tetraphase shares were up 14.5 percent at $38 in after-hours trading. They closed up 10.6 percent in regular trade on Wednesday, after touching a record high of $33.22 earlier in...

  • Jabil Circuit's revenue rises about 5 pct Wednesday, 17 Dec 2014 | 4:14 PM ET

    Dec 17- Jabil Circuit Inc, which makes phone casings for Apple Inc, posted a 4.8 percent rise in revenue, helped by strong sales of iPhone 6 and iPhone 6 plus. Net profit attributable to the contract electronics maker fell to $72.2 million, or 37 cents per share, in the first quarter ended November 30, compared with a profit of $117.9 million, or 57 cents per share, a year...

  • NEW YORK, Dec 17- U.S. stocks rallied on Wednesday, giving the S&P 500 its best day since October 2013 as the Federal Reserve gave an upbeat assessment of the economy and said it would take a patient approach toward lifting interest rates.

  • Oracle revenue up 3.5 pct on strong growth in cloud Wednesday, 17 Dec 2014 | 4:09 PM ET

    Dec 17- Oracle Corp reported a 3.5 percent rise in total revenue, bolstered by a 45 percent jump in its fast-growing cloud services business. The company's net income slipped to $2.50 billion in the second quarter ended Nov. 30, from $2.55 billion. Total revenue rose to $9.6 billion from $9.3 billion.

  • *FOMC stresses patience in normalizing interest rates. *Yellen sees boost for U.S. from oil drop, downplays risk. NEW YORK, Dec 17- U.S.