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  • LONDON, Feb 2- Copper hit a four-week high on Tuesday as bets on lower prices were reversed ahead of a Chinese holiday, but prices slipped later in the day as focus returned to oversupply and weak demand growth in top consumer China. Benchmark copper on the London Metal Exchange was down 0.7 percent to $4,529 a tonne at 1527 GMT. The metal used in power and...

  • WILMINGTON, Del., Feb 2- Horsehead Holding Corp, a large U.S. zinc producer, filed for Chapter 11 bankruptcy on Tuesday due to a slump in metals prices and a shortage of cash. The Pittsburgh- based company is the latest victim of a commodity price crash that has claimed scores of U.S. energy exploration companies, miners and metals producers. Commodity prices have...

  • LONDON, Feb 2- China's capital has become notorious for its smog but the biggest contributors to local air pollution are industrial furnaces, district heating systems, residential fires and trucks rather than power plants. In 2013, the air over Beijing contained an average of 88 micrograms of PM2.5 per cubic metre, compared with just 14-16 micrograms in the air...

  • LONDON, Feb 2- Gold steadied after touching three-month highs on Tuesday, underpinned by global growth concerns and as another sharp drop in the oil price pushed investors towards safe-haven assets. Spot gold touched $1,130.30 an ounce early on Tuesday, its strongest since Nov. 3, and was little changed at $1,128.18 at 1513 GMT. "In the near term gold is finding some...

  • DETROIT, Feb 2- U.S. auto sales appeared to fare better than expected in January, early returns showed on Tuesday, as the industry benefited from low gasoline prices, easy credit and moderate economic growth. Those trends, which boosted sales in 2015, helped blunt the challenges of two fewer selling days and a massive East Coast snowstorm in January.

  • FRANKFURT, Feb 2- Chancellor Angela Merkel summoned auto bosses to Berlin on Tuesday to discuss ways to increase sales of low emissions electric and hybrid cars in the wake of Volkswagen's pollution cheating scandal. BMW, Mercedes-Benz and Audi now rank 12th, 14th and 22nd respectively in terms of global sales of hybrid and electric vehicles, data from LMC...

  • *Q4 earnings/shr 93 cents vs est 70 cents. *Shares up as much as 4 pct at $44.46. Dow is targeting an additional $300 million from cost savings in 2016, building on the $345 million it realized last year, Chief Financial Officer Howard Ungerleider said on a post-earnings call.

  • BOSTON, Feb 2- Executives at U.S. asset manager Affiliated Managers Group Inc on Tuesday sought to downplay the impact of the recent collapse of one its junk bond funds, but jittery investors continued to unload the company's stock. The withdrawals accelerated after the Third Avenue Focused Credit Fund collapsed in early December. AMG executives don't see any...

  • Feb 2- Financial advisory and asset manager Lazard Ltd's results easily beat lowered Wall Street estimates in a quarter battered by volatile market conditions. Global markets were racked in the past few months by fears of an economic slowdown in China and more recently by a steep slump in crude oil prices. Asset management revenue fell 8 percent to $260.6...

  • Shares of Exxon, the world's largest publicly traded oil company, fell 2.2 percent in premarket trading to $74.59, hit by a more than 4 percent slide in the price of crude oil. "While our financial results reflect the challenging environment, we remain focused on the business fundamentals, including project execution and effective cost management," Rex Tillerson,...

  • *Alphabet surpasses Apple as most valuable US company. Feb 2- Wall Street opened lower on Tuesday as falling oil prices weighed on energy shares. Oil prices were down 5 percent as hopes for a deal between OPEC and Russia on output cuts faded with Goldman Sachs saying it was "highly unlikely."

  • * "Highly unlikely" OPEC, Russia will cooperate- Goldman. LONDON, Feb 2- Brent oil fell more than 5 percent on Tuesday, while U.S. crude slid below $30 per barrel, hit by worries about the demand outlook and rising supply, while hopes for a deal between OPEC and Russia on output cuts faded. Russia's energy minister and Venezuela's oil minister discussed the possibility of...

  • *Expects multiple deals in multiple territories. LONDON, Feb 2- British online grocer Ocado is confident it will sign multiple overseas technology deals despite missing out on its target of securing a first one in 2015, the firm said on Tuesday. "We are in talks with... a lot of retailers both in North America and in western Europe but also globally across Asia,...

  • Birla Corp said in August it had entered into an agreement with Lafarge India Private Ltd to buy the two cement businesses in eastern India for an enterprise value of 50 billion rupees. On Tuesday, Birla Corp said in a notice to the Bombay Stock Exchange that it had now been informed about Lafarge India unit's "inability to proceed" with the transaction.

  • The median share price forecast of 31 analysts who raised price targets after Alphabet reported strong results on Monday was $924, suggesting that the company formerly known as Google could be valued at $628 billion in the next 12 months. A look at the most bullish price targets on the companies' shares shows that Alphabet is expected to be valued at $734 billion...

  • MOSCOW, Feb 2- As Russia wrestles with an economic crisis, more and more Porsches and Rolls-Royces are appearing on its roads. Sales of Porsche, Bentley, Rolls-Royce and Lexus cars all rose last year, even as Russia sank into recession. "It's bizarre," said IHS Automotive analyst Tim Urquhart.

  • Pfizer, which plans to buy Botox maker Allergan Inc later this year in a $160 billion deal, said it expected earnings of $2.20 to $2.30 per share in 2016. That would not be much different from $2.20 reported for 2015 and below Wall Street forecasts of $2.36. Pfizer forecast 2016 revenue of $49 billion to $51 billion, up from $48.9 billion in 2015 but shy of Wall Street...

  • *Seasonal winds arrived earlier, lasting longer than usual. *High mortality rates for flowers, small pods. SOUBRE, Ivory Coast, Feb 2- Extreme temperatures and dry, dusty conditions in Ivory Coast, the result of the most severe Harmattan winds in three decades, will lead to a sharp drop in cocoa output from the top grower's upcoming mid-crop, exporters and farmers said...

  • BUENOS AIRES, Feb 2- Argentina has reached a preliminary deal with Italian holders of its defaulted debt, Finance Minister Alfonso Prat-Gay said on Tuesday. "We have reached a pre-agreement to settle the unpaid debt worth about $900 million," Prat-Gay told a news conference. The bonds held by the Italian creditors amounts to about 15 percent of the outstanding...

  • CHICAGO, Feb 2- United Parcel Service Inc on Tuesday reported a significantly higher quarterly net profit on a strong performance during the crucial holiday season and gave a solid 2016 earnings outlook despite warning of uncertain economic conditions. UPS posted fourth-quarter net income of $1.33 billion or $1.48 per share, nearly triple the $453 million...