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  • Shell says no agreement in U.S. refinery strike talks Friday, 20 Feb 2015 | 10:48 PM ET

    HOUSTON, Feb 20- Lead U.S. oil company negotiator Shell Oil Co said face-to-face negotiations on Friday with the United Steelworkers union failed to yield an agreement to end the 20- day-old U.S. refinery strike. Rumors about a tentative deal between the USW and Shell Oil, which is the U.S. arm of Royal Dutch Shell Plc, were being swapped through text messages, emails...

  • WASHINGTON, Feb 20- The White House said on Friday a deal between West Coast ports and the dockworkers union was "a huge relief" for the economy, businesses and workers affected by the lengthy labor dispute. President Barack Obama had received an update on the talks late on Thursday from Labor Secretary Tom Perez, whom he had dispatched to help resolve the dispute,...

  • WHITE HOUSE SAYS WEST COAST PORTS AGREEMENT IS' HUGE RELIEF' FOR U.S.

  • SAN FRANCISCO, Feb 20- Shipping companies and terminal operators clinched a tentative deal with the dockworkers union on Friday, settling a labor dispute that led to months of cargo backups at 29 U.S. West Coast ports and snarled trans-Pacific trade with Asia. The deal, confirmed by a source close to the situation, was reached after the U.S. labor secretary arrived...

  • RIO DE JANEIRO, Feb 20- Brazil's state-run oil company Petroleo Brasileiro SA plans to complete repairs to a broken catalytic cracking unit at its REDUC refinery by March 7, the union representing workers at the plant said in a statement on Friday. Until the recent decline in world oil and fuel prices, Petrobras was forced by Brazil's government to sell imported...

  • SHIPPING COMPANIES AND DOCKWORKERS' UNION REACH TENTATIVE DEAL IN CONTRACT TALKS FOR 29 U.S.

  • SAN FRANCISCO, Feb 20- Los Angeles wholesale gasoline differentials rose on Friday as traders and refineries bought product in a market hampered by two oil refinery outages. March-delivery CARBOB gasoline in Los Angeles rose 7 cents to settle at 28 cents a gallon over April RBOB futures on the New York Mercantile Exchange in active trading, sources said.

  • Feb 20- United Airlines has opened an internal investigation into its relationship with the former chairman of the Port Authority of New York and New Jersey, following a government probe, according to its annual filing on Friday. Media reports have said the government is probing whether United added direct flights from its Newark hub to an airport near a home of...

  • MOSCOW, Feb 21- Moody's Investors Service's downgrade of Russia's sovereign rating was based on "factors of a political character," Russian Finance Minister Anton Siluanov said on Saturday following news that the credit ratings agency had cut the rating to below investment grade. Moody's downgraded Russia's sovereign rating to Ba1 from Baa3, citing the...

  • DIARY-Top Economic Events to March 5 Friday, 20 Feb 2015 | 7:01 PM ET

    TOKYO- Bank of Japan will release the minutes of January policy meeting- 2350 GMT. LONDON- ECB Board member Yves Mersch takes part in a panel discussion on "The Benefits to Achieving a Capital Markets Union" at Dialogue on creating an EU Capital Markets Union organised by the London School of Economics and Political Science and Goldman Sachs- 1345 GMT.

  • Feb 20- McDonald's Corp and its franchisees may have few options but to begin raising hourly wages as an improving U.S. economy creates competition for good workers and as mega-employer Wal-Mart Stores Inc sets a higher bar on pay, according to labor experts. Wal-Mart on Thursday said it would increase entry-level pay to $9 an hour, a move it estimated would cost...

  • CHICAGO, Feb 20- Slumping demand for meat on the U.S. Friday's USDA report showed January pork inventories totaled 596.5 million pounds, up 18 percent from December, partly due to increased production. Ron Plain, a University of Missouri livestock economist, attributed the bulge in cold storage to the inability to move meat off the West Coast.

  • NEW YORK, Feb 20- Virtu Financial Inc, a trading firm whose plans to go public were postponed last year amid the furor over high-frequency trading, has filed a new prospectus for an IPO, a U.S. regulatory filing on Friday showed. Last year the company, which will be controlled by its founder Vincent Viola, a former chairman of the New York Mercantile Exchange, sought to...

  • AT&T urges FCC to revisit spectrum bidding rules Friday, 20 Feb 2015 | 6:36 PM ET

    Feb 20- AT&T Inc has urged the U.S. Federal Communications Commission to relook into bidding rules for spectrum, saying licenses should not go to "speculators or stockpilers". Dish Network Corp, the third-largest pay-TV provider in the U.S. and the owner of undeveloped wireless spectrum, was a surprise winner in the record-setting sale of airwaves for mobile data...

  • Feb 20- The U.S. government on Friday proposed a 0.9 percent cut in payments to health insurers for 2016 Medicare Advantage plans, which provide health benefits to more than 16 million elderly or disabled people. Insurers such as UnitedHealth Group Inc, Humana Inc and Aetna Inc provide these plans, which cover nearly one-third of all Medicare enrollees.

  • Feb 20- Manuel Medina-Mora, who helped build up Citigroup Inc's Mexico business only to see it run into trouble after he stopped managing it day-to-day, will retire in June, the bank said on Friday. Medina-Mora, who heads global consumer banking at Citigroup, was expected to retire before his 65th birthday in August, people familiar with the matter said.

  • FRANKFURT/ NEW YORK, Feb 20- Relatives of U.S. soldiers killed and wounded in a 1983 Beirut bombing have been barred by a U.S. judge from seeking $1.6 billion in assets belonging to Iran's central bank and held by a unit of German exchange operator Deutsche Boerse. District Judge Katherine Forrest in New York said in a decision released on Friday that they could not...

  • Feb 20- Activist investor Marcato Capital Management LP said auction house Sotheby's should repurchase $500 million stock immediately and replace its chief financial officer, a week after the company said there will be no return of capital. Marcato, Sotheby's second-largest shareholder after Daniel Loeb's Third Point LLC, said there was "willful neglect" on...

  • CARACAS, Feb 20- Venezuelans queued up on Friday to purchase U.S. dollars in cash at exchange houses for the first time in 12 years, though prospective buyers complained the new system was tedious and few if any had yet to emerge with greenbacks in hand. A few dozen people queued up inside an Italcambio exchange house in central Caracas on Friday in the hopes of...

  • WILMINGTON, Del., Feb 20- Pineapple king David Murdock heads to a Delaware court on Monday to defend his 2013 buyout of Dole Food Co Inc against shareholders who claim they were short-changed and want more cash. The union pension funds that brought the Delaware case focused on the cozy relationship between Murdock and Deutsche Bank, which are alleged to have...