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  • Dec 16- Cyclacel Pharmaceuticals Inc said an independent data and safety board determined that its lead drug was unlikely to show a statistically significant improvement in survival in some leukemia patients. The company's stock plunged about 47 percent to $1.49 before the bell on Tuesday. The board is evaluating the company's oral drug, sapacitabine, which...

  • WASHINGTON, Dec 16- U.S. housing starts and permits fell in November, but the underlying trend remained consistent with an improving housing market. Groundbreaking declined 1.6 percent to a seasonally adjusted annual 1.028 million-unit pace, the Commerce Department said on Tuesday. Higher mortgage rates are also a constraint, although they have since...

  • LONDON, Dec 16- Russia's failed defense of the rouble and a plummeting oil price added to a global emerging markets rout on Tuesday that sent bourses lower in Asia, the Middle East and Europe. The MSCI emerging stocks index traded 1.6 percent lower, on track for an eighth day in the red while the Asia excluding Japan benchmark dropped 0.7 percent.

  • Dec 16- 3 M Co, a maker of adhesives, abrasives and other products for a variety of industries, said it expected organic sales to rise 3-6 percent in 2015, excluding the effect of foreign exchange rates. Greater China area, which represents about 20 percent of international sales, continues to represent the biggest growth opportunity for 3 M in the next three years,...

  • BEIJING, Dec 16- Chinese authorities said on Tuesday that Honda Motor Co. and its two joint ventures in China would recall 569,769 cars due to potentially defective air bags which the carmaker said were made by Japan's Takata Corp.. Honda, Takata's biggest customer, alone has recalled 13.4 million cars, primarily in the United States. A Beijing- based Honda...

  • US STOCKS-Futures tumble as oil, rouble slide further Tuesday, 16 Dec 2014 | 8:19 AM ET

    NEW YORK, Dec 16- U.S. stock index futures fell on Tuesday as a further slide in crude oil prices and the Russian rouble sent traders fleeing from risky assets. Brent crude lost more than 3 percent to $58.96 per barrel after hitting a low of $58.50 and U.S. crude was down almost 3 percent at $54.26 after hitting $53.80. "The market is reflecting a global macro concern...

  • RUSSIAN CENBANK FIRST DEPUTY GOVERNOR SAYS SITUATION ON FOREX AND STOCK MARKETS CRITICAL.

  • Dec 16- Investment bank Jefferies Group LLC, owned by Leucadia National Corp, reported a quarterly loss and said it was exploring strategic alternatives for its futures-brokerage unit. Net loss attributable to the company was $92.4 million for the fourth quarter ended Nov. 30, compared with a profit of $109.9 million a year earlier, the company said on Tuesday.

  • RUSSIAN CENTRAL BANK FIRST DEPUTY GOVERNOR SAYS CENTRAL BANK WILL TAKE MORE MEASURES AFTER RATE HIKE.

  • *Gold dropped 2.5 pct on Monday after oil slide. LONDON, Dec 16- Gold rose around 2 percent on Tuesday, aided by a diving dollar and lower European stocks, after falling more than 2 percent in the prior session in its deepest 1- day slide in over a year. Gold lost 2.5 percent on Monday on a stronger dollar, its sharpest fall in a day since Dec. 2, 2013.

  • LONDON, Dec 16- Turmoil gripped global foreign exchange markets on Tuesday, driving investors to the safety of the yen and the Swiss franc as Russia's rouble went into a tailspin and oil prices fell below $60 a barrel. "It is contagion from Russia. Anything related to oil is being sold off, "said Carl Hammer, chief currency strategist, at SEB, Stockholm.

  • GLOBAL MARKETS-Scramble for safety as rouble, oil sink Tuesday, 16 Dec 2014 | 8:05 AM ET

    *Moscow stock markets plunge, help drag Europe lower. LONDON, Dec 16- Oil's plunge below $60 and the failure of Russia's huge emergency rate hike to stabilize the rouble jolted global markets on Tuesday, adding to a growing sense of crisis and a volatile end to 2014.. After a bumper few years driven by huge amounts of cash pumped into the financial sector by the...

  • MOSCOW, Dec 16- Russia failed to halt the collapse of the rouble on Tuesday, leaving President Vladimir Putin facing a full-blown currency crisis that could weaken his iron grip on power. A 6.5 percentage point interest rate rise to 17 percent overnight failed to prevent the currency hitting record lows in a "perfect storm" of low oil prices, looming recession and...

  • RUSSIAN ROUBLE TRIMS LOSSES, CENTRAL BANK NOT SEEN INTERVENING- TRADERS.

  • Caesars skips bond payment as default looms Tuesday, 16 Dec 2014 | 7:51 AM ET

    NEW YORK, Dec 16- The operating subsidiary of gaming giant Caesars has inched closer to default after skipping a US $225 m coupon payment Monday on its second-lien bonds. Caesars Entertainment Operating Co, the main operating subsidiary of Caesars Entertainment Corp, did not make the payment due on the 10 percent bonds maturing 2028.. It has a 30- day grace period...

  • US STOCKS-Futures slide as oil, rouble crumble Tuesday, 16 Dec 2014 | 7:33 AM ET

    NEW YORK, Dec 16- U.S. stock index futures fell on Tuesday as a slide in the Russian rouble and crude oil prices sent traders fleeing risky assets. *Brent crude lost nearly 4 percent after hitting a low of $58.50 and U.S. crude was down 3 percent at $54.21 after hitting $53.80. *Plunging oil prices could heighten geopolitical tensions, trigger defaults by U.S. shale oil...

  • Shares in Russia's top bank Sberbank plummet 18 pct Tuesday, 16 Dec 2014 | 7:29 AM ET

    MOSCOW, Dec 16- Shares in Russia's top bank Sberbank plunged over 18 percent on Tuesday, while the rouble-denominated MICEX index was up around 2.6 percent, helped by the weaker rouble. Sberbank is seen as a barometer for the wider Russian economy, and the collapsing rouble is denting investor confidence in Russia. At 1227 GMT the dollar-denominated RTS index was...

  • Salix to fix inventory pile-up by end of 2015 Tuesday, 16 Dec 2014 | 7:25 AM ET

    Dec 16- Salix Pharmaceuticals Ltd said it would cut sales to wholesalers to fix an inventory issue related to three key drugs, and withdrew its forecast for the fourth quarter. The company said it expects to fix the inventory issue by the end of 2015.. Salix also said the U.S. Food and Drug Administration has delayed a decision on the extended approval of Salix's...

  • DOHA, Dec 16- Russia said on Tuesday it would not cut oil output to help prop up prices and refrained from calling on OPEC to do so despite its economy showing signs of severe stress and its currency collapsing to record lows. Oil prices dropped to near $59 per barrel on Tuesday for the first time since 2009 after OPEC member the United Arab Emirates reinforced on...

  • LONDON, Dec 16- Shares in European companies exposed to Russia fell sharply to lead a broad decline on Tuesday, as the rouble plunged in value and concern grew about the state of the Russian economy. Shares in Raiffeisen Bank International, which relies on Russia for profits, hit a record low after Russia's aggressive hike in interest rates failed to convince...