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  • Feb 29- Aldeyra Therapeutics Inc said its experimental eye drug proved to be more effective than a placebo in treating itching associated with allergic conjunctivitis in a mid-stage study. Allergic conjunctivitis is a common disease characterized by an inflammation of the membrane that covers the eye, which results in excessive tear production, ocular...

  • LONDON, Feb 29- Hedge funds are turning more positive about the outlook for crude oil prices, according to the latest positioning data from regulators and exchanges. Hedge funds and other money managers held a combined net long position in the three main crude oil futures and options contracts amounting to 383 million barrels on Feb. 23. The net long position in...

  • *Oil overhang remains huge, Iran raises exports. LONDON, Feb 29- Brent crude futures edged higher on Monday, adding to strong gains last week, on rising hopes that the market has bottomed out and as OPEC kingpin Saudi Arabia said it would work with other producers to limit oil market volatility. Saudi Arabia and several fellow OPEC members agreed with non-OPEC...

  • *China's cut in required reserves rate hurts yuan. LONDON, Feb 29- The euro sank half a percent against the dollar and some 1.3 percent against the yen on Monday after a shockingly low flash first official estimate of inflation showed consumer prices in Europe were falling again. The fall in the flash reading of euro zone inflation to -0.2 percent boosted...

  • LONDON, Feb 29- Amazon has launched its biggest foray into food outside of the United States with a deal in Britain to offer fresh and frozen goods to customers, in some places as quickly as under one hour, in a deal with supermarket Morrisons. Enabling the online retail giant to compete with Britain's biggest supermarket stores and smallest local shops, the deal...

  • JOHANNESBURG, Feb 29- The founder and chief executive of South African conglomerate Bidvest Group, Brian Joffe, said on Monday he will step down as CEO after a deal to spin off its food business is finalised. "I will continue in South Africa as a director and in some executive role to deal with the strategic issues in acquisitions." Joffe also said the group could list...

  • *Futures down: Dow 43 pts, S&P 4.5 pts, Nasdaq 17.25 pts. Feb 29- U.S. stock index futures fell on Monday as investors worried about the Federal Reserve pressing ahead with its plan to raise interest rates this year. *Wall Street closed lower on Friday, after a rally earlier in the week lost steam.

  • The company on Monday also named Dennis Knowles, a former executive of home improvement chain Lowe's Cos Inc, as its chief operating officer, filling a position that has remained vacant since 2012.. Lumber Liquidators' last COO was Robert Lynch, who became chief executive in 2012 but resigned last May following the scandal related to its China laminates.

  • Feb 29- Aldeyra Therapeutics Inc said its experimental eye drug proved to be more effective than a placebo in treating itching and tearing associated with allergic conjunctivitis in a mid-stage study.

  • Feb 29- Chevron Corp, the No. 2 U.S. oil producer, is considering a sale of its geothermal assets in Asia, Bloomberg reported citing people familiar with the matter.

  • LAUNCESTON, Australia, Feb 29-- In theory these should be great days for the liquefied natural gas industry as new plants are commissioned to supply the clean-burning fuel to energy hungry markets across rapidly developing Asia. The main obstacle for LNG in Asia appears to be price, not just that it's higher than competing fuels but also the way it's calculated...

  • *Eritrea says world has come knocking. ASMARA, Feb 29- Europe's migration crisis and the conflict in Yemen have created opportunities for Eritrea to draw closer to the European Union and Gulf Arab states, offering the poor Horn of Africa nation the chance to end isolation it blames on U.N. sanctions. Eritrea, which insists it has always been open to improving...

  • *IDBI Bank jumps as govt says would consider ceding control. MUMBAI, Feb 29- India faced criticism of skimping on efforts to bail out ailing state banks in the annual budget on Monday, but sparked a big rally in the shares of one state lender, IDBI Bank, by saying it would be ready to cede majority control. Finance Ministry Arun Jaitley, in his budget speech, stuck to...

  • *China's move seeks to revive economic growth. LONDON, Feb 29- Zinc extended its rally and copper trimmed losses on Monday after top metals consumer China cut its reserve ratio for banks in an effort to revive flagging growth. "Any sense of proactive policymaking in China towards stabilising the economy and the exchange rate will be taken positively by commodity...

  • BRUSSELS, Feb 29- Britain's deal with the European Union is legally binding and irreversibly enshrined in treaty, Prime Minister David Cameron says; opponents, including his own justice minister, a personal friend, say it is not. That has legal force and Britain has lodged the agreement as an international treaty at the United Nations. But the Commission will only...

  • BRUSSELS, Feb 29- As Britons prepare to vote in a June referendum on whether to stay in the European Union, some of the argument turns on the significance of a package of EU reforms secured by Prime Minister David Cameron. Cameron insists he has negotiated a radical reshaping of Britain's place in the EU, a "special status". A senior diplomat from one of Britain's major...

  • The company's stock and sales have been hammered since a "60 Minutes" report on CBS last March reported that the retailer's laminates from China contained excessive levels of formaldehyde. Shares took a further beating this month after the U.S. Centers for Disease Control and Prevention revised its report to say people exposed to some types of flooring sold by...

  • BEIJING, Feb 29- China's Premier Li Keqiang told U.S. Treasury Secretary Jack Lew that the country will keep its currency, the renminbi, at a reasonable level, state television reported on Monday. Lew earlier reiterated that it was critical that China continue to move toward a more market-determined exchange rate in an orderly manner, and said that the United...

  • Feb 29- Lumber Liquidators Holdings Inc reported a decrease in quarterly sales as the hardwood flooring retailer battles falling demand on reports that some of its laminates contained excessive levels of cancer-causing formaldehyde. The company reported a net loss of $19.8 million, or 73 cents per share, in the fourth quarter ended Dec. 31, compared with a...

  • BEIJING, Feb 29- China's central bank reduced the amount of cash that banks must hold as reserves for the fifth time since Feb. 2015, as it seeks to revive a slowing economy. The People's Bank of China said on its website that it would cut the reserve requirement ratio by 50 basis points for all banks, taking the ratio to 17 percent for the country's biggest lenders.