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  • Cereal maker Kellogg's sales fall 5 pct Tuesday, 5 May 2015 | 8:08 AM ET

    May 5- Kellogg Co, the world's largest maker of breakfast cereals, reported a 5 percent drop in quarterly net sales as a strong dollar reduced the value of sales outside North America. Net income attributable to Kellogg almost halved to $227 million, or 64 cents per share, in the first quarter ended April 4, from $406 million, or $1.12 per share, a year earlier.

  • *Quarterly net profit 1.98 bln Sfr vs 1.1 bln Sfr in poll. ZURICH, May 5- Switzerland's UBS reported its biggest quarterly profit in nearly five years on Tuesday, justifying the bank's decision to refocus on wealth management and slim down its investment bank. Inflows of cash from rich customers in Asia and a surge in foreign exchange dealing after the Swiss...

  • May 5- Oil and natural gas producer Noble Energy Inc boosted its 2015 production forecast on Tuesday, citing cost cuts and technical improvements after reporting a better-than-expected adjusted profit. Noble peer Concho Resources Inc raised its annual production outlook on Monday, citing technological improvements after cutting its rig fleet.

  • ADB to allocate $1 bln to Azeri energy sector Tuesday, 5 May 2015 | 8:06 AM ET

    BAKU, May 5- Azerbaijan and the Asian Development Bank signed on Tuesday a memorandum of understanding to invest $1 billion to modernize the country's energy system. Under the memorandum, signed as part of the ADP's annual board meeting in the Azeri capital Baku, the bank will allocate three tranches worth a total of $750 million while the remaining $250 million...

  • May 5- Discovery Communications Inc, the owner of Animal Planet and the Discovery Channel, reported a better-than-expected quarterly profit, helped by growth in distribution revenue at its U.S. and international networks. Discovery Communications shares were up 4.6 percent in premarket trading on Tuesday. First-quarter Net income available to Discovery...

  • May 5- Estee Lauder Cos Inc, the maker of Clinique, M.A.C. and Bobbi Brown cosmetics, reported a 1.2 percent rise in quarterly sales, helped by higher demand for its Pure Color Envy lipsticks and Perfectionist Youth-Infusing makeup. Net earnings attributable to the company rose to $272.1 million, or 71 cents per share, in the third quarter ended March 31 from $213.2...

  • DirecTV revenue rises 4 pct Tuesday, 5 May 2015 | 7:42 AM ET

    May 5- DirecTV, the No. 1 U.S. satellite TV company, posted a 4 percent rise in quarterly revenue as it added 279,000 subscribers and earned more from each user. Net income attributable to the company rose to $730 million, or $1.44 per share, in the first quarter ended March 31, from $561 million, or $1.09 per share, a year earlier. DirecTV, which is being brought out by...

  • BRUSSELS, May 5- The European Commission said on Tuesday it had approved a joint venture between two of the world's biggest coffee processors, Mondelez International of the United States and Dutch firm DE Master Blenders, conditional on asset sales. A spokeswoman for DE Master Blenders declined to comment, and officials at Mondelez were not immediately...

  • Och-Ziff quarterly revenue rises 16.6 pct Tuesday, 5 May 2015 | 7:39 AM ET

    May 5- Hedge fund Och-Ziff Capital Management Group LLC reported a rise in quarterly revenue, helped by higher incentive income and management fees. Adjusted distributable earnings per Class A share fell less than 1 percent to $126.7 million from a year ago. Earnings per share was flat at 25 cents per share.

  • May 5- Oil and gas producer Noble Energy Inc swung to a quarterly loss from a year-ago profit, hurt by a steep drop in crude oil prices and $87 million in charges related to commodity derivative losses and asset impairment. The company reported a net loss of $22 million, or 6 cents per share, in the first quarter ended March 31, compared with a profit of $200 million, or 55...

  • May 5- Animal health products maker Zoetis Inc said it would reduce operations in Venezuela and consider selling or exiting 10 manufacturing sites over the long term. Zoetis said it expected to take a charge of $400 million to $500 million related to the restructuring, which would also include trimming "management layers." The company also reported a 6 percent...

  • LONDON, May 5- HSBC warned on Tuesday that Britain's bank tax was preventing it from raising dividend payouts and that was a key concern of investors as the bank assesses whether to move back to Hong Kong from London. Europe's largest bank has ordered a review of whether it should shift its headquarters because of the cost of operating from London and said it would...

  • *Greek ministers visit Frankfurt, Brussels, Paris. ATHENS/ BRUSSELS, May 5- Greece stepped up diplomacy with euro zone partners on Tuesday to try to avert a potentially catastrophic funding crunch this month, when it must make a big debt repayment to the IMF as cash reserves dry up. Ministers were travelling to Frankfurt, Brussels and Paris to plead for a loosening of...

  • *Saudis consider halt to Yemen bombing for humanitarian aid. "The protesters closed the pipeline to the port," Mohamed El Harari, spokesman for state oil firm NOC, said, adding that several oilfields in eastern Libya would have to close. Brent crude oil climbed to $67.12 a barrel, up 67 cents and its highest since Dec. 8, before easing back slightly to around $67.00 by...

  • *The services gauge data is expected at 10 a.m. EDT and trade numbers at 8:30 a.m. EDT. *The latest batch of economic data comes a day after Chicago Fed President Charles Evans said rate hikes could begin this year without harming the recovery. News Corp and Groupon are scheduled to report after the close.

  • Citadel's Kenneth Griffin, who launched his trading career from his Harvard dormitory in the 1980 s, topped the list with $1.3 billion, according to Institutional Investors' Alpha's 14th annual rankings. Renaissance Technologies founder James Simons came in second with $1.2 billion, and Bridgewater Associates' Ray Dalio placed third with $1.1 billion.

  • Zoetis to exit Venezuela, considers selling plants Tuesday, 5 May 2015 | 7:22 AM ET

    May 5- Animal health products maker Zoetis Inc said it would exit its business in Venezuela and consider selling or exiting 10 manufacturing sites over the long term. Zoetis said it expected to take a charge of $400 million to $500 million related to the restructuring, which would also include trimming "management layers." The company also reported a 6 percent...

  • The joint declaration, which is likely to antagonise Moscow, commits to the deal from Jan. 1, 2016, a date already a year later than planned as Russia seeks to oppose European efforts to integrate Ukraine and move it out of Moscow's sphere of orbit. But aside from the EU's show of support for Ukraine, the May 21-22 Eastern Partnership summit will offer little for...

  • May 5- Sprint Corp's quarterly revenue fell 6.7 percent as the U.S. mobile provider aggressively cut prices and offered promotions to attract more subscribers. Sprint's net loss widened to $224 million, or 6 cents per share, in the three months ended March 31 from $151 million, or 4 cents per share, a year earlier. The company, which is 80 percent owned by Japan's...

  • Discovery Communications revenue rises 9 pct Tuesday, 5 May 2015 | 7:10 AM ET

    May 5- Discovery Communications Inc, the owner of Animal Planet and the Discovery Channel, reported a 9 percent rise in quarterly revenue, helped by growth in distribution revenue at its U.S. and international networks. Net income available to the company rose to $250 million, or 37 cents per share, in the first quarter ended March 31, from $230 million, or 33 cents per...