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  • Nov 12- Dow Chemical Co, the No. 1 U.S. chemical maker by sales, increased its dividend and said it would buy back shares worth $5 billion, more than doubling its share repurchase program. Dow, which is being pushed by hedge fund manager Daniel Loeb to split up, said it would complete its previous $4.5 billion share repurchase program by the end of the year.

  • AT&T CEO SAYS WILL PAUSE FIBER INVESTMENTS TO 100 CITIES UNTIL FURTHER CLARIFICATION ON NET NEUTRALITY.

  • Macy's reports higher profit as costs fall Wednesday, 12 Nov 2014 | 8:20 AM ET

    Nov 12- Macy's Inc reported a 23 percent rise in third-quarter profit as lower costs boosted its margins. The company said net income rose to $217 million, or 61 cents per share, in the quarter ended Nov. 1 from $177 million, or 47 cents per share, a year earlier. Macy's, which also owns the high-end Bloomingdale's chain, said net sales fell to $6.2 billion from $6.3...

  • ISTANBUL, Nov 12- Insurers from Europe, Asia and the United States are among some 20 potential bidders in the sale by Turkey's state-run Halkbank of its pension and insurance arms, three sources close to the process said on Wednesday. European firms Ageas, Aviva and Zurich Insurance, Japan's Meiji Yasuda, Nippon Life and Sompo Japan Insurance, Malaysia's Khazanah...

  • KIEV, Nov 12- Ukraine's central bank said on Wednesday it may soften its policy on mandatory sales of foreign currency income on the domestic market, to encourage companies to bring more dollars into the country. Companies currently have to sell 75 percent of their foreign income to offset pressure on the Ukrainian hryvnia, which is trading near all-time lows...

  • WASHINGTON, Nov 12- The U.S. "The Federal Reserve is continuing to investigate in the foreign exchange markets in coordination with other authorities, including the Department of Justice," the spokesman said in a statement. The announcement was made as global regulators fined five major banks, including UBS, HSBC and Citigroup, $3.4 billion for failing to stop...

  • Nov 12- Rockwell Automation Inc, a maker of automation systems that help factories run smoothly, reported a better-than-expected quarterly profit, helped by higher sales of its motion control and industrial safety products in the United States. Revenue from the United States, Rockwell's biggest market, rose 5 percent to $899.4 million in the fourth quarter,...

  • MOSCOW, Nov 12- Russia's central bank said on Wednesday it had boosted the amount of euros and reduced the amount of U.S. dollars in its foreign currency reserves in the first three months of the year. The central bank said in a document on its website it had reduced the amount of dollars in its forex reserves from 45.4 percent on Dec. 31 2013 to 43.3 percent by March 31...

  • Nov 12- Allergan Inc changed its bylaws associated with calling a special shareholder meeting, about a month before such a meeting where William Ackman, the Botox maker's biggest shareholder, aims to replace most of Allergan's board. Ackman, whose hedge fund Pershing Square Capital Management owns nearly 10 percent of Allergan, is pushing the company to sell...

  • WASHINGTON, Nov 12- The U.S. The Fed is working closely with authorities in the United States, including the Justice Department, and overseas on the investigation, it said in a statement. The announcement was made as global regulators fined five major banks, including UBS, HSBC and Citigroup, $3.4 billion for failing to stop their traders from trying to manipulate...

  • FOREX-Sterling hurt by dovish BoE Inflation Report Wednesday, 12 Nov 2014 | 7:55 AM ET

    LONDON, Nov 12- Sterling fell towards recent 14- month lows against the dollar as investors pushed back rate hike expectations to the fourth quarter of 2015 after the Bank of England's Inflation Report on Wednesday. Sterling hit a low of $1.5812, not far from Friday's 14- month low of $1.5791. "Sterling is being sold off particularly against the euro and much more...

  • UPDATE 1-Loblaw's profit beats on strong pharmacy sales Wednesday, 12 Nov 2014 | 7:53 AM ET

    Nov 12- Loblaw Companies Ltd, Canada's largest grocer, reported a better-than-expected quarterly profit, boosted by strong pharmacy sales at its recently acquired Shoppers Drug Mart business. Loblaw, majority-owned by George Weston Ltd, bought Shoppers Drug Mart Corp last year to better compete against the expanding Canadian businesses of U.S.-based...

  • BEIJING, Nov 12- U.S. companies, which have led Western investment in China over the last 35 years, are scaling back their expectations and business plans in the face of slowing growth, heightened competition and increased regulatory scrutiny from Beijing. The USCBC estimates U.S. business in China is worth about $350 billion a year, a figure that includes exports,...

  • UPDATE 1-Bain, Apax join bid battle for Portugal Telecom Wednesday, 12 Nov 2014 | 7:51 AM ET

    LISBON/ PARIS, Nov 12- Private equity firms Bain Capital and Apax Partners have launched a bid worth 7.075 billion euros to buy the Portuguese operating business of Portugal Telecom from Brazil's Oi, rivalling last week's offer from telecoms group Altice. Oi is considering selling Portugal Telecom assets to reduce its debt of over $18 billion, which would...

  • MOSCOW, Nov 12- A slump in the Russian rouble and a state scheme to support local car sales slowed falls in auto sales in October to 9.9 percent year-on-year from 20 percent a month earlier, a lobby group said on Wednesday. The Association of European Businesses said sales of new cars and light commercial vehicles reached 211,365 in October as people delayed large...

  • FED WORKING CLOSELY WITH AUTHORITIES IN U.S., OVERSEAS ON INVESTIGATION; JUSTICE DEPARTMENT INVOLVED- FED.

  • US STOCKS-Futures lower after latest Dow, S&P records Wednesday, 12 Nov 2014 | 7:41 AM ET

    NEW YORK, Nov 12- U.S. stock index futures were lower on Wednesday, putting major indexes on track to retreat after the Dow and S&P 500 closed at record highs for a fifth consecutive day. *Financial companies will be in focus after global regulators fined five major banks, including UBS, HSBC and Citigroup, $3.4 billion for failing to stop their traders from trying to...

  • Dow Chemical raises buyback program by $5 bln to $9.5 bln Wednesday, 12 Nov 2014 | 7:40 AM ET

    Nov 12- Dow Chemical Co said it would buy back shares worth $5 billion, bringing its total stock repurchase program to up to $9.5 billion.

  • FEDERAL RESERVE INVESTIGATING POSSIBLE IMPROPER CONDUCT IN FOREIGN EXCHANGE MARKETS BY LARGE BANKING INSTITUTIONS- FED SPOKESPERSON.

  • Base metals resilient amid commodity rout, may hold fast Wednesday, 12 Nov 2014 | 7:39 AM ET

    LONDON, Nov 12- The industrial metals complex on the London Metal Exchange, led by aluminum, is bucking a sell-off in commodities this year and could outperform in coming months as investors bet on developing shortages. "Base metals have been relatively resilient, and the reason for that is that some at least have distinct supply-side support, which is simply not...