*Investors look past possible OPEC output cut. Comments from OPEC's secretary general last week that the group could cut output next year buoyed Brent on Friday, but investors' attention turned back to the gloomy economic outlook in Europe and China which has curbed oil demand.» Read More
NEW YORK, April 22- Investors trimmed their positions of U.S. dollars on Tuesday after a two-week run higher, unmoved by a U.S. Trading ranges remained narrow as Europe returned from the Easter holidays and faced uncertainty over whether European Central Bank policy will move toward more monetary stimulus.
*Eli Lilly buys Novartis' animal-health arm for $5.4 bln. PARIS, April 22- The purchase of Novartis' animal-health business will strengthen Eli Lilly's hand in emerging markets, tapping into growing demand there for protein-rich diets and household treatments for pets, a senior executive at the U.S. group said.
DETROIT, April 22- General Motors Co said on Tuesday it is restructuring its engineering operations in a move meant to improve quality and safety of its vehicles, even as it deals with the fallout from the defective ignition switch linked to at least 13 deaths. As part of the reorganization, GM said its global vehicle engineering chief, John Calabrese, is retiring.
April 22- Time Warner Inc named directors, including former Sony Corp CEO Howard Stringer, to the board of Time Inc, the publishing business it plans to spin off in the second quarter of 2014.. The media company named current Time Inc CEO Joseph Ripp as chairman of the board.
LONDON, April 22- Barclays is to quit most of its commodities trading businesses, it said on Tuesday, joining a retreat prompted by falling profitability in the face of tougher regulation. Barclays said it would exit most of its metals, energy and agricultural trading but will continue trading precious metals, some oil and gas instruments and index products.
April 22- The U.S. Food and Drug Administration proposed on Tuesday a new, more collaborative approach for faster approval of high-risk medical devices intended to treat patients with serious conditions with no other treatment options.
LONDON, April 22- The White House likes to claim a share of the credit for the drilling revolution that has transformed North America's energy production and security.
*AstraZeneca jumps 6.3 pct on M&A talk. The STOXX Europe 600 health care index rose 3.2 percent as AstraZeneca rallied on speculation about a bid approach from U.S. major Pfizer, while a deal to swap assets boosted GlaxoSmithKline and Novartis.
*Quarterly earnings per share C $1.44 vs C $1.41 estimate. CP shares jumped 6 percent to C $173.83 on the Toronto Stock Exchange in early morning trading.
April 22- Investment firm Ares Management LP said on Tuesday its initial public offering is expected to raise up to $419 million and that its chief executive and co-founder Anthony Ressler received $138.6 million in pay and dividends in 2013..
April 22- Netflix Inc's planned price hikes will allow the video streaming company to increase spending on original content that will help attract more customers globally, analysts said, as many of them raised their price targets on the stock.
April 22- U.S. coal miner Arch Coal Inc said it expects to ship fewer tons of steel-making metallurgical coal this year as prices and demand remain weak, but signaled recovering demand for thermal coal, used in power generation. Shares of Arch Coal, which also reported a bigger-than-expected loss for the first quarter, were down 4 percent at $4.76 in early trading.
*Gold extends 3- day drop as investors stay on sidelines. LONDON, April 22- Gold extended losses for a fourth straight day on Tuesday as outflows from physical gold funds pointed to weak investment appetite, though a retreat in the dollar took some pressure off prices.
*Netflix up after results, Facebook gains on update. Dow components Travelers Cos Inc and United Technologies Corp both reported first-quarter earnings that beat expectations, and United Tech raised the low end of its full-year profit outlook. Shares of Travelers rose 0.7 percent to $87.04 while United Tech was up 1 percent at $119.49.
*To restart Pend Oreille zinc mine at a cost of C $45 mln. Teck also said it plans to resume production at its Pend Oreille underground zinc mine, which has been idle since 2009. The company said zinc has the best outlook of the base metals. The capital cost of restarting Pend Oreille is pegged at about $41 million.
April 22- Bank of New York Mellon Corp reported a first-quarter profit on Tuesday as rising markets drove up its assets under custody and administration. With its stock lagging that of rival State Street Corp in recent years, BNY Mellon has been under pressure to control costs.
WASHINGTON, April 22- U.S. home resales fell to their lowest level in more than 1-1/ 2 years in March, but there were signs a recent downward trend that has plagued the housing market may be drawing to an end. The National Association of Realtors said on Tuesday home sales slipped 0.2 percent to an annual rate of 4.59 million units, the lowest level since July 2012.
RIO DE JANEIRO, April 22- Brazil's financial markets have soared over the past month on hopes that the government may run smaller deficits, stop interfering as much in the private sector and perhaps even undertake long-needed reforms to revive the economy. But some of the most experienced Brazil- watchers on Wall Street are saying: Not so fast, guys.
April 22- McDonald's Corp posted a lower quarterly profit on Tuesday as high beef costs bit into margins and fewer customer visits resulted in a bigger-than-expected decline in sales at the fast-food chain's established U.S. restaurants.
April 22- Canada's Valeant Pharmaceuticals International Inc said on Tuesday it has partnered with activist investor Bill Ackman in an unsolicited $47 billion bid to buy Botox maker Allergan Inc in a move to eventually become one of the world's five biggest drug companies.