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  • Jan 13- Former Xstrata Plc Chief Executive Mick Davis is considering a bid for Vale SA's nickel business, the Bloomberg reported. Davis's investment vehicle X2 Resources values Vale's nickel business at $5 billion to $7 billion, Bloomberg said, citing two people, who asked not to be identified because the negotiations are private. X2 has raised about $4.8...

  • WASHINGTON/ NEW YORK, Jan 13- Standard and Poor's is expected to pay just over $1 billion to settle lawsuits from the U.S. government and several states that had accused the McGraw Hill Financial Inc unit of inflating credit ratings on toxic assets before the 2008 financial crisis, according to a person familiar with the matter. The Justice Department case, filed...

  • CALGARY, Alberta, Jan 13- Canada's largest oil and gas company Suncor Energy Inc will cut about 1,000 employees and contractors and slash C $1 billion in capital spending in response to the recent plunge in crude oil prices, it said on Tuesday. Suncor will also defer some capital projects that have not yet been sanctioned, such as MacKay River 2 in northern Alberta...

  • Newfield Exploration says to retain China assets Tuesday, 13 Jan 2015 | 4:48 PM ET

    Jan 13- Oil and gas producer Newfield Exploration Co said it plans to retain its assets in China. The recent drop in crude oil prices could create headwinds for the sale of the assets in China, the company said. Oil tumbled 5 percent to near six-year lows before recovering ground on Tuesday amid a supply glut.

  • *KB Home forecasts drop in gross margins. Shares of homebuilders fell 1.5 percent after KB Home forecast a drop in gross margins for the first quarter. Homebuilder stocks had been up earlier in the session, but KB Home dropped 16.3 percent to $13.87, its biggest percentage fall since 1992..

  • GameStop's December same-store sales up 4.4 pct Tuesday, 13 Jan 2015 | 4:44 PM ET

    Jan 13- Video game retailer GameStop Corp said December comparable store sales rose 4.4 percent, driven by higher demand for games such as Call of Duty: Advanced Warfare, Grand Theft Auto V and Far Cry 4.. Shares of the world's largest retailer of video game products rose about 10 percent to $36 in extended trading. New software sales grew 5.8 percent during the...

  • WASHINGTON, Jan 13- Michigan Governor Rick Snyder appointed a new emergency manager to Detroit Public Schools on Tuesday, a fresh attempt at fixing budget problems that span nearly a decade. Darnell Earley, emergency manager of the nearby town of Flint since September 2013, immediately replaced Jack Martin, who has completed his 18- month tenure of managing the...

  • CHICAGO, Jan 13- CSX Corp, the third-largest U.S. railroad, on Tuesday reported a higher quarterly profit that was in line with analyst expectations and said it expected a strong increase in its freight business and double-digit earnings growth during 2015.. Jacksonville, Florida- based CSX reported a net profit of $491 million, up 15 percent from $426 million a...

  • BOSTON, Jan 13- A slide in Ukraine bond prices continues to haunt U.S. bond fund star Michael Hasenstab, whose multibillion-dollar bet on the troubled country's debt is in turmoil as analysts predict a major restructuring that could spell losses for investors. In recent weeks, Ukraine bond prices have plummeted to less than 60 cents on the dollar on some issues.

  • CRUDE FUTURES PARE GAINS POST-SETTLEMENT TRADE, BRENT EXTENDS LOSSES, ON API CRUDE INVENTORY BUILD.

  • WASHINGTON, Jan 13- The U.S. Trade Representative's Office said on Tuesday that important progress was being made on a Pacific trade deal, but did not give any time frame for wrapping up an agreement. "The coming months will be an important time in trade policy," USTR spokesman Trevor Kincaid said in a statement.

  • CHICAGO, Jan 13- CSX Corp, the third-largest U.S. railroad, on Tuesday reported a higher quarterly profit that was in line with Wall Street expectations, driven by growth in several freight classes including intermodal and coal. The Jacksonville, Florida- based company reported a net profit of $491 million, up 15 percent from $426 million a year earlier.

  • *Prospect of ECB stimulus lifts shares in Europe. NEW YORK, Jan 13- The U.S. stock market closed lower for a third straight session on Tuesday, reversing earlier gains as continued weakness in oil spurred further selling in the energy sector, while the U.S. dollar rose on hopes for stimulus from the European Central Bank. Brent crude fell 0.7 percent, approaching a...

  • NEW YORK, Jan 13- The U.S. government said on Tuesday it expects domestic oil output in 2016 to grow only 2.2 percent, the slowest pace in years, as the relentless rout in prices puts the brakes on the country's five-year shale boom. In its first forecast for next year, the U.S. Energy Information Administration said domestic oil production will rise about 200,000...

  • NEW YORK, Jan 13- U.S. stocks ended down in a volatile session on Tuesday, led by a drop in materials and energy shares following further weakness in commodity prices and as the S&P 500 broke below a key technical level.

  • NEW YORK, Jan 13- The U.S. bond market was little changed on Tuesday with benchmark yields treading near their lowest in more than 1-1/ 2 years as a rally on Wall Street lost steam, supporting demand for low-risk government debt. "Bonds have been the beneficiary of everything so far in 2015. The market seems to be just going one way right now," said Justin Lederer, a...

  • WASHINGTON, Jan 13- The World Bank on Tuesday lowered its global growth forecast for 2015 and next year due to disappointing economic prospects in the euro zone, Japan and some major emerging economies that offset the benefit of lower oil prices. "The global economy is at a disconcerting juncture," World Bank chief economist Kaushik Basu told reporters.

  • NEW YORK, Jan 13- The euro plunged to a nine-year low against the dollar on Tuesday after a senior European Central Bank policymaker urged the ECB to go ahead with its proposed stimulus measures and revitalize a slumping euro zone economy. ECB Governing Council member Ewald Nowotny said in a newspaper interview that the ECB should decide sooner rather than...

  • MADISON, Wisconsin, Jan 13- The collapse in crude oil prices may delay the Canadian economy's return to its production potential but is unlikely to have a drastic effect on growth, Bank of Canada Deputy Governor Timothy Lane said on Tuesday. Central banks around the world, the Bank of Canada included, will "look through" or ignore the immediate and temporary drop in...

  • Jan 13- Former Xstrata Plc Chief Executive Mick Davis is considering a bid for Vale SA's nickel business, the Bloomberg reported. Davis's investment vehicle X2 Resources values Vale's nickel business at $5 billion to $7 billion, Bloomberg said, citing two people, who asked not to be identified because the negotiations are private. There has not been any formal...