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  • Dec 11- Sangamo BioSciences Inc reported promising preliminary data from two mid-stage studies on its potential experimental HIV/AIDS therapy. The data showed the drug was safe and well-tolerated, the company said on Friday. The experimental drug, codenamed SB-728-T, is being developed for the functional control of HIV/AIDS.

  • Dec 11- Chinese solar panel maker Trina Solar Ltd said it withdrew from the European Union's price undertaking but will continue to serve EU customers through overseas manufacturing facilities. Chinese solar companies have been battered in the past few years by low panel prices and anti-dumping duties imposed by the United States and Europe on solar panel...

  • MOSCOW, Dec 11- Russian inflation this year will be around 13 percent, the top end of the central bank's forecast range, bank governor Elvira Nabiullina told a news conference on Friday. Nabiullina said inflation had been taking longer than expected to slow, and that inflation expectations remained elevated. She predicted though that inflation will slow to...

  • Dec 11- Seeds and chemical maker Dow Chemical Co said it would buy the remaining stake in its joint-venture with Gorilla glass maker Corning Inc.. The transaction is expected to yield more than $1 billion in additional annual EBITDA at full run-rate synergies, Dow Chemical said. Dow and Corning will maintain their current equity stake in Hemlock Semiconductor...

  • Dec 11- U.S. stock index futures were sharply lower on Friday as crude oil prices hit 7- year lows on growing oversupply concerns. *Adding to the somber mood, China's yuan fell to its lowest in 4-1/ 2 years on concerns about the country's slowing economy and expectations of a U.S. rate hike. *Global shares were lower amid concerns that weakness in the Chinese currency...

  • MOSCOW, Dec 11- Russia's central bank has lowered its forecast for capital outflows this year to $58 billion, from $70 billion previously, bank governor Elvira Nabiullina told a news conference on Friday.

  • Dec 11- DreamWorks Studios, the film company co-founded by Steven Spielberg, has struck a deal for a $200 million equity investment by entertainment company Participant Media, and will shift to Universal Pictures for distribution before the end of the year, Variety reported, citing sources familiar with the situation. DreamWorks had turned to Disney late in...

  • Dec 11- U.S. chemical giants DuPont and Dow Chemical Co agreed to merge in an all-stock deal valuing the combined company at $130 billion, with plans to eventually split into three. DuPont Chief Executive Ed Breen will be CEO of the new company, while Dow Chemical CEO Andrew Liveris will be executive chairman. Dow Chemical shareholders will get one DowDuPont share...

  • PARIS, Dec 11- French Foreign Minister Laurent Fabius said on Friday he was confident a global accord to combat climate change could be adopted after a final draft will be released on Saturday morning. I'm optimistic, "Fabius told reporters, flanked with United Nations Secretary General Ban Ki- moon. Efforts to craft a global accord stumbled on Friday with China...

  • LONDON, Dec 11- Copper marched to a two-week high on Friday as investors closed out bearish positions amid optimism that the economy of top metals consumer China was on the mend. Short covering occurred after China's National Bureau of Statistics said the Chinese economy was showing early signs of recovery. "The upbeat comments from China's NBS today may also...

  • Dec 11- U.S. chemical giants DuPont and Dow Chemical Co agreed to merge in an all-stock deal valuing the companies at $130 billion, with plans to eventually split into three. The deal, which is likely to face intense regulatory scrutiny, allows the new company- to be called DowDuPont- to rejig assets based on their diverging fortunes. The planned split would create...

  • Dec 11- Seeds and chemical maker Dow Chemical Co said it would buy the remaining stake it its joint-venture with Corning Inc, the supplier of Gorilla Glass for iPhones. Formed in 1943, Dow Corning produces silicon-based products for aerospace, automotive and electrical industries. The transaction is expected to yield more than $1 billion in additional annual...

  • KHUTSONG, South Africa, Dec 11- Residents of South Africa's Khutsong township remember David van Rooyen as a kindly mayor always willing to help out. Plucked from obscurity by President Jacob Zuma, Van Rooyen appears never to have governed anything bigger than a municipality, although he does have a master's degree in finance awarded by the University of London...

  • JOHANNESBURG, Dec 11- South Africa's rand weakened to a new record low on Friday, slumping more than 3 percent in a sell-off by investors after this week's dismissal of the finance minister, while stocks fell, with banks taking the biggest hit. President Jacob Zuma sacked Nhlanhla Nene late on Wednesday in favor of a relatively unknown lawmaker David van Rooyen,...

  • LONDON, Dec 11- The "Great Divide" between U.S. and euro zone monetary policy dictated financial market flows last week as investors bailed out of high-yield bonds and emerging markets, and piled into cash and European stocks, Bank of America Merrill Lynch said on Friday. The Federal Reserve is widely expected to raise U.S. interest rates next week for the first time...

  • NEW DELHI, Dec 11- India imposed five-year anti-dumping duties on stainless steel imports from China, the European Union and the United States on Friday, as the government tries to help local companies suffering from cheaper imports. Imports from South Korea, South Africa and Thailand will also be taxed. Indian Trade Minister Nirmala Sitharaman said New Delhi...

  • NEW DELHI, Dec 11- The Indian subsidiary of Coca-Cola Co said on Friday it may have to close some bottling plants if the government pushes through a proposal that would subject fizzy drinks to a 40 percent "sin" tax, as part of a broader fiscal overhaul. The beverage maker, which operates 57 factories and bottling plants across India, said a proposal to group sugary...

  • VIENNA, Dec 11- Austria has repatriated 15 tonnes of its gold reserves as part of a plan to hold half its stock of the precious metal within the country's borders, the Austrian National Bank said on Friday. The OeNB, which administers Austria's 280 tonnes of gold reserves, said in May that by 2020 50 percent of the reserves would be kept in Austria, 30 percent in London...

  • JOHANNESBURG, Dec 11- Glencore has provisionally agreed to sell its troubled South African coal mine for 2.15 billion rand, narrowly avoiding closing the operation and saving hundreds of jobs, the unit's business rescue practitioners said on Friday. It is one of many Glencore- owned assets that have been hit by the slump in commodities prices, forcing the...

  • LONDON, Dec 11- Uncertainty about the outcome of Britain's referendum on leaving the European Union could cloud an otherwise positive outlook for the country's economic growth, the International Monetary Fund on Friday. Prime Minister David Cameron has said he will hold a referendum on Britain's EU membership by the end of 2017, after attempting to...