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  • BRUSSELS, May 8- Euro zone banks are adapting to lower levels of extra cash in the financial system without the help of the European Central Bank, its president said on Thursday. Banks are repaying the loans they took from the ECB during the euro zone crisis, draining extra cash out of the system they no longer need.

  • *Yellen to testify before Senate Budget Committee. *Priceline, Tesla drop after results, outlook. A Kremlin spokesman said Russia needed more information and additional analysis after pro- Moscow rebels in eastern Ukraine snubbed President Vladimir Putin and said they would go ahead with a secession referendum planned for Sunday.

  • *ADS to trade under symbol "CMCM" on NYSE. May 8- China- based Cheetah Mobile Inc's initial public offering raised about $168 million after the company's shares were priced at $14 each, near the top end of the expected price range. The company sold 12 million American depositary shares, which were expected to be priced between $12.50 and $14.50 each.

  • NEW YORK, May 8- The chances have increased over the past month that the much-feared El Nino weather phenomenon would strike in the Northern Hemisphere during the remainder of the year, the federal U.S. forecaster said Thursday.

  • LONDON, May 8- Euro zone shares rebounded on Thursday afternoon as the European Central Bank's President Mario Draghi was seen as opening the door to more stimulus measures in June. The euro zone blue chip Euro STOXX 50 index was up 0.5 percent at 3,178.17 points after trading as low as 3,153.03 points earlier in the session.

  • May 8- Dean Foods Co, the largest U.S. dairy processor, lowered its full-year adjusted profit forecast after posting weaker-than-expected first-quarter results as milk costs rose and a severe winter in the country hurt supplies.

  • WASHINGTON, May 8- Government-controlled mortgage finance firms Fannie Mae and Freddie Mac will send the U.S. Fannie Mae posted net income of $5.3 billion for the three months ended March 31, which included $4.1 billion from settlements of litigation over mortgage-backed securities issued by banks ahead of the financial crisis.

  • *Dubai Q1 earnings jump 38 percent year on year. DUBAI, May 8- Dubai's bourse has outpaced other Gulf markets by a wide margin in terms of companies' first-quarter profit growth, data show, supporting its position as the top performer in the region.

  • Draghi says ECB may act after sees June forecasts Thursday, 8 May 2014 | 9:01 AM ET

    BRUSSELS, May 8- The European Central Bank may consider fresh monetary policy measures at its June meeting following publication of updated economic forecasts by the bank's staff, ECB President Mario Draghi said on Thursday.

  • BRUSSELS, May 8- European Central Bank President Mario Draghi said on Thursday that continual calls from institutions and countries for the bank to take action risked undermining the ECB's credibility.


  • May 7- Cablevision Systems Corp reported a rise in quarterly revenue, as higher advertising and increased cable prices offset a fall in video subscribers. Net income attributable to the company's shareholders was $89.8 million, or 33 cents per share, in the three months ended March 31, compared with a loss of $16.1 million, or 6 cents per share a year earlier.

  • May 8- Travel website owner Priceline Group Inc forecast second-quarter results below market estimates, saying a decline in its "name-your-own-price" business is hurting revenue growth. Shares of the company, which owns travel websites Priceline.com, Booking.com and Kayak.com, fell about 4 percent before the bell.

  • WASHINGTON, May 8- The number of Americans filing new claims for unemployment benefits fell more than expected last week, indicating the labor market was strengthening despite a run-up in applications in prior weeks.

  • TEXT-ECB statement after policy meeting Thursday, 8 May 2014 | 8:47 AM ET

    FRANKFURT, May 8- Following is the text of the ECB's statement issued after its policy meeting on Thursday:. Based on our regular economic and monetary analyses, we decided to keep the key ECB interest rates unchanged.

  • May 8- China's JA Solar Holdings Co Ltd posted a first-quarter profit, compared with a year-earlier loss, driven by higher demand for its panels in Japan and Europe. JA Solar's shares rose 6 percent in premarket trading. JA Solar had forecast shipments of 610 MW for the first quarter.

  • May 8- Dish Network Corp, the second-largest U.S. satellite TV company, reported a better-than-expected 6 percent growth in quarterly revenue due to higher net subscriber additions.

  • ECB's Draghi says euro zone recovery proceeding Thursday, 8 May 2014 | 8:41 AM ET

    BRUSSELS, May 8- The euro zone's moderate recovery is continuing and inflationary pressures are subdued, the European Central Bank said on Thursday, pledging to keep interest rates low for an extended period of time.