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  • Jan 8- Atlantic City has endorsed steep budget cuts but rejected the idea of a state-appointed emergency manager as part of the struggling New Jersey gambling hub's recovery plan. Atlantic City has seen its municipal finances decline with the fortunes of its local casino industry, which has suffered steep losses from competing casinos in nearby states.

  • Jan 8- One of Bloomberg LP's top news executives, Laurie Hays, is leaving the company following a shake up of the financial information provider's newsroom leadership in December. Hays is departing Bloomberg News under "amicable circumstances," according to a staff memo written by company founder Michael Bloomberg and obtained by Reuters.

  • LOS ANGELES, Jan 8- Starbucks Corp on Thursday said Chief Operating Officer Troy Alstead, who as chief financial officer helped lead the coffee chain's massive and successful restructuring, is taking an extended unpaid leave from the coffee chain to spend more time with his family. Alstead has been with Starbucks for 23 years and his last day in his current role...

  • Jan 8- AbbVie Inc forecast 2015 earnings largely above analysts' average estimate, betting on its recently approved hepatitis C drug and growth in its auto-immune disease treatment, Humira. The company on Thursday said it expected full-year adjusted earnings of $4.25- $4.45 per share. U.S. health regulators in December approved Viekira, AbbVie's all-oral...

  • WASHINGTON, Jan 8- Supporters and critics of free trade are readying for a bitter battle this year over major free trade deals and legislation to fast-track trade agreements through the U.S. Congress. Unions, progressive lawmakers, consumer advocates, environmentalists, and social justice and human rights lobbyists kicked off a campaign on Thursday to oppose...

  • Jan 8- Trading gains in 2014 for oil trader Andy Hall were his biggest in four years, as a volatile market sent crude prices crashing to their lowest since 2009.. Hall's Westport, Connecticut- based Astenbeck Capital Management, which manages about $3 billion, posted a gain of just over 10 percent last year, according to a letter it sent its investors and seen by...

  • Macy's to cut jobs, close 14 stores Thursday, 8 Jan 2015 | 4:54 PM ET

    Jan 8- Macy's Inc said it would close 14 stores in early spring 2015 and cut some jobs to boost its investment in technology and offset higher expense expected in healthcare and retirement plans. The retailer said it expected savings of about $140 million per year, beginning in 2015.. Macy's said its workforce is expected to remain at a level of about 175,000 as it...

  • *China crude imports likely hit record in December. NEW YORK, Jan 8- Global oil prices perked slightly for a second straight day on Thursday after better-than-expected U.S. jobs data helped the market hold ground after a 10 percent loss earlier in the week. "I think there is selling fatigue and that's why you're seeing some short covering," said John Kilduff, partner...

  • Halcon Resources cuts 2015 spending again Thursday, 8 Jan 2015 | 4:44 PM ET

    Jan 8- Oil and gas producer Halcon Resources Corp said it would further cut its drilling and completion budget for 2015, responding to the continuing decline in oil prices. Halcon said on Thursday it now expected to spend between $375 million to $425 million, down from its earlier forecast of $750 million to $800 million. The company, which operates in the Bakken...

  • MEXICO CITY, Jan 8- Mexico's auto production posted its biggest jump in more than 2-1/ 2 years in December, and should advance strongly in the next few years, the country's industry trade group said on Thursday. Production surged 27 percent from December 2013, the biggest increase since April 2012, Mexican Auto Industry Association data showed.

  • WASHINGTON, Jan 8- The Republican-led U.S. The 252- to-172 vote sends the legislation to the new Republican-majority Senate. There was no word on when the Senate might take up the measure, but the bill is unlikely to become law because the White House has threatened to veto it.

  • RENOWNED OIL TRADER ANDY HALL'S ASTENBECK HEDGE FUND GAINS 10 PCT IN 2014 FOR BEST YEAR SINCE 2010- INVESTOR LETTER.

  • COLUMN-SNB faces test amid euro woes: James Saft Thursday, 8 Jan 2015 | 4:32 PM ET

    Jan 8- The somewhat forlorn euro has a friend in the Swiss National Bank, an ally that is unlikely to be well pleased by having to play defender. The SNB isn't doing this to make Mario Draghi feel better, but instead in partial fulfillment of a vow to buy "unlimited quantities" of the single currency to maintain an exchange rate floor of 1.2 francs to the euro it has...

  • U.S. gasoline tax hike talk increases in Congress Thursday, 8 Jan 2015 | 4:25 PM ET

    WASHINGTON, Jan 8- The possibility of a gasoline tax increase to help pay for federal highway improvements was attracting increased attention in the U.S. Congress as a prominent conservative Republican on Thursday said he was willing to consider the move. Senator Orrin Hatch, the new chairman of the Senate Finance Committee that oversees tax measures, told...

  • WASHINGTON, Jan 8- The Republican-led U.S.

  • U.S. HOUSE BILL TO REDEFINE FULL-TIME WORK UNDER OBAMACARE AS 40 HOURS/WEEK RECEIVES ENOUGH VOTES TO PASS; VOTING CONTINUES.

  • MEXICO CITY, Jan 8- Mexico's state oil company, Pemex, said on Thursday it has proposed an oil swap with the United States, potentially ushering in the first sustained crude imports by Mexico from its northern neighbor after years of self-sufficiency. Under the proposal, Mexico would in exchange provide the United States with heavier Mexican crude for...

  • RIO DE JANEIRO, Jan 8- Brazil's state-run oil company said on Thursday it produced more crude oil and related liquids in the third quarter than Exxon Mobil Corp, making Petroleo Brasileiro SA the world's largest publicly traded petroleum producer for the first time. That output was 7 percent more than the 2.065 million bpd Exxon produced in the same quarter,...

  • MEXICO CITY, Jan 8- Mexico will probably have to raise interest rates this year, given the Federal Reserve's own expected hike in U.S. borrowing costs, central bank governor Agustin Carstens said on Thursday. In December, Mexico's central bank held rates steady at a record low 3 percent. "Facing the imminent increase in interest rates in the United States, there is a...

  • Media embracing digital TV with strings attached Thursday, 8 Jan 2015 | 4:05 PM ET

    NEW YORK/ LAS VEGAS Jan 8- Media companies that are starting to allow their programs onto Internet-delivered TV and mobile devices are putting limits on digital rights as a safety hatch if problems arise with the new distribution systems, executives say. Media companies are considering joining streaming-only services, or launching their own like HBO and CBS,...