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  • Ally mortgage servicing unit OKs $3B buyout offer Wednesday, 24 Oct 2012 | 3:15 PM ET

    NEW YORK-- Ally Financial Inc.' s mortgage lending and servicing subsidiary has given preliminary approval to a $3 billion buyout offer from a unit of Ocwen Financial Corp..

  • Oct 24- Marathon Oil Corp said on Wednesday it is in negotiations to sell a portion of its 20 percent stake in the Athabasca Oil Sands Project in Canada as part of a strategy to shed less profitable assets. No sale of the non-operated Athabasca interest can be assured, Houston- based Marathon said.

  • Sandy forms into category 1 hurricane - NHC Wednesday, 24 Oct 2012 | 3:14 PM ET

    Oct 24- Sandy formed into a category 1 hurricane on Wednesday, and was located about 65 miles south of Kingston, Jamaica, and about 235 miles south-southwest of Guantanamo, Cuba, the U.S. National Hurricane Center said in its latest bulletin. ``The center of Sandy is expected to move near or over eastern Jamaica this afternoon and this evening, move over eastern Cuba tonight and Thursday morning, and approach the central Bahamas on Thursday,'' the NHC said.

  • Adidas claims victory in 'knitted' shoe row with Nike Wednesday, 24 Oct 2012 | 3:13 PM ET

    FRANKFURT, Oct 24- Adidas may be able to sell its Adizero Primeknit running shoe in Germany from next month after a court ruled a temporary injunction brought by rival Nike cannot be sustained. Nike filed for the injunction last month, halting the sale and production of the Adidas product, arguing the shoe was a copy of its Flyknit sneaker, launched in February.

  • US Airways president talks about Southwest fares Wednesday, 24 Oct 2012 | 3:13 PM ET

    The president of US Airways says Southwest Airlines Co. is changing how it thinks about prices. He says Southwest is targeting fare increases and sales, which can be "a little hard to understand" for most people but seems smart to airline insiders.

  • SunCoke 3Q earnings soar on higher prices, volume Wednesday, 24 Oct 2012 | 3:10 PM ET

    LISLE, Ill.-- SunCoke Energy posted a 74 percent jump in third-quarter net income thanks to more robust sales of coke at higher prices. The company easily topped Wall Street profit expectations for the quarter, but shares slid 2 percent with revenue for the quarter and a full-year outlook that fell short.

  • Strauss-Kahn seeks comeback via conference circuit Wednesday, 24 Oct 2012 | 3:08 PM ET

    PARIS, Oct 24- Dominique Strauss-Kahn, the former IMF chief whose French presidential ambitions were shattered by a sex scandal last year, is making a comeback in business and at conferences. The 63- year-old Strauss-Kahn was accused of trying to rape a New York hotel maid in May 2011.

  • Boeing to deliver 28 Dreamliners in 2012-CEO Wednesday, 24 Oct 2012 | 3:06 PM ET

    Oct 24- Boeing Co Chief Executive Jim McNerney said the company expects to deliver 28 787 Dreamliners in 2012, part of its strategy to ramp up production to improve earnings and cash flow.

  • Allegheny Technologies shares drop on 3Q, outlook Wednesday, 24 Oct 2012 | 3:06 PM ET

    NEW YORK-- Shares of metal producer Allegheny Technologies Inc. fell Wednesday after it reported third-quarter net income tumbled 43 percent and warned its fourth-quarter earnings will fall below the most recent quarter's results.

  • Clarification: Earns-Anixter International Wednesday, 24 Oct 2012 | 3:06 PM ET

    GLENVIEW, Ill.-- In a story Oct. 23, The Associated Press described Anixter International Inc. as a security products distributor instead of as a company that distributes communication and security products, electrical wire and cable products and fasteners.

  • Report: Data spotty that tax break created jobs Wednesday, 24 Oct 2012 | 3:06 PM ET

    MINNEAPOLIS-- Legislation that allowed local governments to direct excess property tax dollars from tax-increment financing districts into other private developments was supposed to kick-start construction hiring in Minnesota, but an examination published Wednesday found evidence of job creation was spotty at best, even as many companies cashed in on the new law.

  • *Treasury set to auction $35 billion of 5- year notes. Data showed growth in China's manufacturing sector shrank for a 12th successive month in October. ``Treasuries opened weaker on the back of decent selling in 10- to 30- year paper as Chinese Flash PMI came in stronger,'' said Tom di Galoma, managing director at Navigate Advisors LLC in Stamford, Connecticut.

  • *New home sales touch highest rate since April 2010. WASHINGTON, Oct 24- New U.S. single-family home sales surged in September to their highest level in nearly 2-1/ 2 years, further evidence the housing market recovery is gaining steam.

  • EU gives Pfizer cancer drug conditional approval Wednesday, 24 Oct 2012 | 2:51 PM ET

    NEW YORK-- Drug giant Pfizer Inc. said Wednesday that it's received conditional approval to market its lung cancer pill Xalkori for certain patients in the European Union.

  • METALS-Copper steady on China optimism, euro zone weighs Wednesday, 24 Oct 2012 | 2:51 PM ET

    LONDON, Oct 24- Copper was steady on Wednesday on signs of recovery in top consumer China, although gains were capped by weak euro zone data, including in Germany, and ahead of a Federal Reserve policy statement due later on Wednesday. Benchmark three-month copper on the London Metal Exchange was $7,825 at 1434 GMT from $7,831 a tonne at the close on Tuesday.

  • *Canadian theater mogul granted day parole Wednesday, 24 Oct 2012 | 2:51 PM ET
  • ANALYSIS-Poland leans towards euro entry despite crisis Wednesday, 24 Oct 2012 | 2:48 PM ET

    *Warsaw wants to be at EU's decision-making core. WARSAW, Oct 24- Polish policymakers are shedding their doubts about joining the euro and starting to favour accession again because they believe the risks of being left outside the core of Europe outweigh the danger of joining a single currency still in the grip of crisis.

  • Oct 24- Barnes& Noble Inc said on Wednesday that customers who shopped at 63 of its stores as recently as last month may have had their credit or debit card information stolen in what the U.S. bookstore chain called a ``sophisticated criminal effort.''.

  • *Sugar market awaits crush update from Brazil's Unica. LONDON, Oct 24- ICE raw sugar turned higher on Wednesday, lifting off a three-week low as traders positioned themselves ahead of a report from Brazilian cane industry association Unica due later in the day.

  • OTTAWA, Oct 24- The Bank of Canada halved its forecast for third-quarter economic growth in Canada to 1.0 percent, annualized, on Wednesday and said the degree of slack in the economy had widened, suggesting rate hikes could come later than thought.