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  • European shares end higher, led by LVMH and Greek banks Wednesday, 4 Feb 2015 | 12:27 PM ET

    PARIS, Feb 4- European stocks ended higher on Wednesday as better-than-expected results from LVMH triggered a rally in luxury goods makers, while Greek banks continued to recover on hopes of a deal with the European Union on Greece's debt. "Sales growth was particularly solid in the United States and Japan," Barclays France director Franklin Pichard said.

  • Federal Communications Commission Chairman Tom Wheeler, in an op-ed published on Wired.com, said he aims to establish the "strongest open Internet protections ever proposed by the FCC" that would apply, for the first time, to both wireless and wired broadband providers. The five-member FCC is slated to vote on the proposed rules on Feb. 26. Comcast Corp, Verizon...

  • NEW YORK, Feb 4- Jury deliberations began on Wednesday in the trial of the suspected mastermind behind the underground website Silk Road, who prosecutors say orchestrated a scheme that enabled around $200 million of anonymous online drug sales using bitcoins. Silk Road operated from at least January 2011 to October 2013, when authorities seized the website...

  • WASHINGTON, Feb 4- India is destined to be a strong defense partner of the United States and there is great potential for military cooperation between the two countries, President Barack Obama's nominee as defense secretary Ashton Carter said on Wednesday. "India is destined to be a strategic partner of the United States. He said he would take a strong interest in...

  • UPDATE 2-Boston Scientific profit beats Street by a cent Wednesday, 4 Feb 2015 | 12:00 PM ET

    *4th- qtr adj/shr $0.22 vs est $0.21. Feb 4- Boston Scientific Corp's adjusted quarterly profit edged past the average analyst estimate and the medical device maker reported a growth in sales for the fifth straight quarter, helped by continued demand for its heart devices. Boston Scientific's sales growth and improving margin have been encouraging in the...

  • BERLIN, Feb 4- Germany wants Greece's new left-wing government to go back on anti-austerity promises made in its first days in office and revert to economic policies its predecessors' agreed with international lenders, a document showed on Wednesday. Greece promptly rejected such calls. "The Eurogroup needs a clear and front-loaded commitment by Greece to...

  • U.S. housing regulator downbeat on principal reductions Wednesday, 4 Feb 2015 | 12:00 PM ET

    WASHINGTON, Feb 4- The top U.S. regulator of Fannie Mae and Freddie Mac on Wednesday played down the likelihood of reducing the size of loans of homeowners still under water, saying such a move would also have to be a win for taxpayers. Federal Housing Finance Agency director Mel Watt, a former 20- year Democratic Congressman who has been at the helm of the agency for...

  • NEW YORK, Feb 4- Oil cut short a four-day rally on Wednesday, with investors and traders focusing again on the supply glut in the market after U.S. crude stocks set record highs. U.S. crude shaved off more than a quarter of the nearly 20 percent gain it had made since Thursday's close, slumping more than 5 percent, or $2.80 a barrel, to $50.25 by 11:20 a.m. EST.

  • MEXICO CITY, Feb 4- Grupo Mexico's quarterly profit fell 24 percent on exchange rate and financing costs, the mining and transportation conglomerate said on Wednesday, but its share price surged 6 percent as investors cheered a possible rail unit offering. Grupo Mexico said fourth-quarter profit fell to $380 million from $500.67 million in the year-earlier...

  • Feb 4- Members of the United Nations' aviation arm, the International Civil Aviation Organization, meeting in Montreal this week, have endorsed a new standard that will require commercial aircraft to report their position every 15 minutes, a response to the disappearance of Malaysia Airlines Flight MH370. The guideline, which ICAO is aiming to bring into force...

  • *Japanese equities rise on strong Mitsubishi results. NEW YORK, Feb 4- The U.S. dollar rose on Wednesday, rebounding after its worst day in more than a year, while a retreat in oil prices pressured energy shares and put Wall Street stocks in negative territory. Brent crude fell 3 percent to $56.16 per barrel.

  • Gilead drags healthcare shares down on drug price worries Wednesday, 4 Feb 2015 | 11:38 AM ET

    Feb 4- Healthcare shares plunged on Wednesday, lead by biotechnology stocks, after Gilead Sciences Inc said it gave health insurers steeper-than-expected discounts on its hepatitis C drugs, fueling worries that the broader sector would face increasing price pressure. Gilead weighed most heavily on the biotechnology sector with a 8.9 percent drop in its...

  • *Staples' shares fall over 10 pct, Office Depot's rise 1.5 pct. Feb 4- Staples Inc, the No. 1 U.S. office supplies retailer, agreed to buy No. 2 Office Depot Inc in a $6.3 billion deal designed to help it better compete against Wal-Mart Stores Inc and online rivals such as Amazon.com Inc.. "The same factors that the FTC cited in the Office Depot/ OfficeMax deal are present here,"...

  • WASHINGTON, Feb 4- President Barack Obama's nominee for defense secretary Ashton Carter on Wednesday vowed to cut through "red tape" slowing U.S. arms deliveries to Jordan, which plans to step up its fight against Islamic State after the killing of a captured Jordanian pilot. Carter told the Senate Armed Services Committee it was important for Jordan to be able to...

  • ISTANBUL, Feb 4- Turkish President Tayyip Erdogan made fresh criticism of the central bank's policies on Wednesday, stoking worries over the bank's independence and sending the lira to a record low against the dollar. It was trading at 2.4440 at 1607 GMT. "Erdogan and his government are becoming increasingly detached from the economic reality," said Lars...

  • PARIS, Feb 4- Greek Prime Minister Alexis Tsipras voiced confidence on Wednesday on reaching a deal on its debt, receiving a guarded welcome from French President Francois Hollande who reminded him that Athens must pay back its debts. Hollande said Europe should show more "solidarity" after the election of the anti-bailout government in Athens, which he said "...

  • Feb 4- With snow piling up in much of the United States, it might seem a bit early to start thinking about summer. storm, "says Rick Seaney, chief executive officer of FareCompare.com, which analyzes airfares. Asia- and Latin America- bound vacationers might find some bargains, while the carriers' sharing alliances that dominate the business will probably limit the...

  • *Crude falls after 4- day rally. NEW YORK, Feb 4- U.S. stocks dipped on Wednesday, in the wake of a two-day rally for the S&P 500, as oil prices declined and labor market data disappointed. U.S. crude was down 5.1 percent to $50.37 and Brent was off 3.6 percent to $55.83.

  • LONDON, Feb 4- Brent extended losses to fall below $56 a barrel on Wednesday, reversing a four session rally after U.S. crude inventories jumped to a record high, shifting the global glut back in to focus. The U.S. Energy Information Administration said U.S. crude stocks rose by 6.3 million barrels last week to 413.06 million barrels, the highest level since records...

  • NEW YORK, Feb 4- The U.S. dollar recovered against a basket of major currencies on Wednesday, a day after posting its worst one-day loss in over a year, as a lack of progress on a Greek debt deal hurt the euro and as belief in the dollar's longer-term strength returned. "When you have the selloff like we did yesterday, as soon as it's complete, then people want to buy the dip,"...