Oct 2- Eli Lilly and Co said it would discontinue the development of its lupus drug as the treatment was not found to be effective enough in two late-stage trials. The decision will result in a charge of about 4- 5 cents per share in the third quarter, the company said. Eli Lilly said the decision was not because of any safety concerns.» Read More
*Foxconn surges more than 30 pct after Citigroup upgrade. HONG KONG, Nov 5- Hong Kong shares eased slightly on Monday, as caution ahead of the U.S. presidential elections spurred mild profit-taking after a strong run-up last week lifted the local benchmark to a 15- month high.
SYDNEY, Nov 5- Australia's Federal court issued a landmark judgment on Monday that Standard& Poor's misled investors by giving its highest rating to derivatives that lost almost all their value in the run-up to the 2008 global economic crisis.
MEXICO CITY, Nov 4- Leading world economies pressed the United States on Sunday to act decisively to avert a rush of spending cuts and tax hikes, warning that the so-called fiscal cliff is the biggest short-term threat to global growth.
MEXICO CITY, Nov 4- China will continue to buoy the global economy even if the Asian giant's growth stabilizes at current levels of 7-8 percent a year, Australian Treasurer Wayne Swan said on Sunday. Australia is heavily dependent on China as a buyer for its commodity exports and recent upbeat data has fanned hopes that China's economy may be picking up.
*Colonial Pipeline: commercial power restored at Linden. *Fuel shortages remain in New York and New Jersey. NuStar Energy LP, whose Linden terminal had sustained severe damages after Sandy, said it hoped to restore pipeline and barge deliveries ``very soon.''.
TOKYO, Nov 5- Toyota Motor Corp is set to lift its annual operating forecast to around 1.05 trillion yen from 1.00 trillion yen for its current fiscal year, public broadcaster NHK said on Monday, citing unidentified sources.
MEXICO CITY, Nov 4- Finance chiefs of leading economies pressed the United States on Sunday to avert a rush of spending cuts and tax hikes that could hurt global output next year, though some countries still saw Europe's debt crisis as the No. 1 danger.
TOKYO, Nov 5- Japan's Nikkei average is expected to open lower on Monday, tracking weakness on Wall Street despite better-than-expected U.S. jobs data, although a softer yen is likely to limit losses for exporters.
NEW YORK, Nov 4- About 1.9 million homes and businesses remained in the dark on Sunday as the pressure mounted on power providers to restore electricity to areas hit hardest by Hurricane Sandy nearly a week ago. In New York, utilities came under increasing pressure to restore heat and light to some 650,000 customers.
NEW YORK, Nov 4- The American Red Cross said on Sunday it regrets not responding sooner to areas on the U.S. East Coast hardest hit by superstorm Sandy and is working aggressively to distribute food, water and other supplies to victims across New York and New Jersey. The delay in relief response from the Red Cross has been widely criticized by politicians.
NEW YORK, Nov 4- Almost 200,000 suburban New York City commuters, most in New Jersey, face another work week without easy rail connections because of storm damage so severe that experts say it will take months before full service can be restored. Hurricane Sandy severed train connections for an estimated 435,000 daily commuters in the New York City suburbs.
MEXICO CITY, Nov 4- The world's biggest economies will soon discuss how to punish countries that fail to implement tougher new bank rules in a crucial test of their resolve to prevent another financial crisis, officials said.
*Polls show race for White House remains close. SYDNEY, Nov 5- The U.S. dollar hovered around two-month highs against a basket of major currencies in Asia on Monday as investors sought the safe-haven currency given uncertainty surrounding the U.S. presidential election. Polls show the race for the White House remained close before Tuesday's election.
NEW YORK- With freezing temperatures forecast, tens of thousands of people hit by superstorm Sandy need temporary housing, but New York officials say it is not immediately clear where they could all be sheltered.
The move follows growing concerns about the situation in Greece, where the government last month took the highly unusual step of suspending all drug exports from the country in an attempt to prevent shortages.
CAIRO, Nov 4- The international mediator on Syria, Lakhdar Brahimi, called on Sunday for world powers to issue a U.N. Security Council resolution based on a deal they reached in June to set up a transitional government in a bid to end the bloodshed.
NEW YORK, Nov 4- Nearly 1.9 million homes and businesses in the U.S. Northeast were still without power on Sunday, barely changed from earlier in the day, nearly a week after Hurricane Sandy hit, the U.S. Department of Energy's Office of Electricity Delivery& Energy Reliability said in a report.
NEW YORK, Nov 4- The average U.S. price for a gallon of regular gasoline took its biggest drop since 2008 in the past two weeks, due to lower crude oil prices, a big price drop in pump prices in California and Hurricane Sandy, according to a widely followed survey released on Sunday.
*Fuel shortages remain in New York and New Jersey. NEW YORK, Nov 4- More fuel terminals came back online in the New York harbor network on Sunday as mainline power was restored nearly a week after super storm Sandy, but gasoline shortages persisted and some major facilities remained idle.
*30,000 to 40,000 will need shelter, New York mayor says. NEW YORK, Nov 4- A housing crisis loomed in New York City as victims of superstorm Sandy struggled on Sunday without heat in near-freezing temperatures, and officials fretted displaced residents would not be able to vote in Tuesday's presidential election.