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  • NEW YORK, Jan 22- A former Galleon Group hedge fund trader on Thursday said he will ask a federal judge to throw out his conviction and 10- year prison sentence, one of the longest imposed in a broad U.S. government probe into insider trading. In that Dec. 10 decision, the 2nd U.S. Circuit Court of Appeals said a trader, to be convicted of insider trading, needed to know the...

  • Analyst-turned-fund manager basks in Xiaomi glow Thursday, 22 Jan 2015 | 3:59 PM ET

    HONG KONG, Jan 23- Richard Ji, whose little-known fund was the biggest investor in leading Chinese smartphone maker Xiaomi Inc's $1.1 billion fundraising last month, is a numbers man looking to spot' category killers'- start-ups with the power to disrupt. Last year's record $25 billion IPO from Alibaba Group Holding Ltd injected new life into Chinese tech...

  • *European shares hit seven-year high, Wall Street up over 1 percent. *Gold rises nearly 1 percent. NEW YORK, Jan 22- Wall Street jumped and European shares climbed to a seven-year high on Thursday as world markets cheered a European Central Bank stimulus program worth more than one trillion euros, while the euro slipped to an 11- year low.

  • *Verizon, American Express fall after results. NEW YORK, Jan 22- U.S. stocks rose to session highs ahead of the close on Thursday after the European Central Bank announced larger than expected measures to stimulate the region's sagging economy. "Many have said this program is not going to suddenly flip a switch," said John Canally, investment strategist at LPL...

  • Jan 22- A panel of experts on Thursday voted to recommend that U.S. health regulators approve Astellas Pharma Inc's drug for the treatment of rare, often fatal invasive fungal infections that can target patients with blood cancers. The Astellas medicine, which would be sold under the proposed brand name Cresemba, was granted Orphan Drug status by the FDA, which is...

  • HAVANA, Jan 22- The United States and Cuba moved closer to restoring diplomatic relations on Thursday with historic, high-level talks, but the Americans noted the two sides must overcome more than 50 years of mistrust to normalize trade and travel. President Barack Obama and Cuban President Raul Castro announced on Dec. 17 they would work to restore diplomatic...

  • NEW YORK/ LONDON, Jan 22- Gold turned higher and touched a five-month high above $1,300 per ounce on Thursday, after the European Central Bank launched a multi-billion euro bond-buying program aimed at reviving a sagging euro zone economy. Gold is usually seen as a hedge against inflationary concerns. "Gold is reacting to what Draghi has to say, to the bigger...

  • SAO PAULO/ BRASILIA, Jan 22- Brazilian President Dilma Rousseff's crusade to win back investor confidence has entrusted policymakers with the tough mission of hiking interest rates while major central banks cut them, raising the prospect of another recession in Latin America's biggest economy. The move left the Brazilian central bank at odds with the...

  • ST. CATHARINES, Ontario, Jan 22- Canadian Prime Minister Stephen Harper voiced complete confidence in the Bank of Canada on Thursday and said its surprise interest rate cut this week was appropriate. The Bank of Canada stunned markets by cutting interest rates on Wednesday, citing a threat to economic growth and its inflation targets from the oil price plunge...

  • DUBLIN, Jan 21- India faces growing pressure over financial uncertainty at budget carrier SpiceJet after leasing company BOC Aviation demanded the return of three leased aircraft, in what is seen as a test of global rules on aircraft investments. The leasing arm of Bank of China warned in an interview that India's fast-growing airline industry could struggle...

  • ATLANTIC CITY NJ/ NEW YORK Jan 22- A new emergency management team for the casino resort town Atlantic City said it would take about six months for a turnaround plan to show results but it was' premature' to talk about bankruptcy for the city, which has seen gaming revenues decimated. New Jersey Governor Chris Christie on Thursday appointed a turnaround team,...

  • UPDATE 1-Amazon to buy Israeli start-up Annapurna Labs Thursday, 22 Jan 2015 | 2:47 PM ET

    SAN FRANCISCO/ JERUSALEM, Jan 22- U.S. tech giant Amazon confirmed on Thursday that it has agreed to buy Israeli chipmaker Annapurna Labs for its cloud computing unit, Amazon Web Services. Annapurna Labs is owned by businessman Avigdor Willenz with other investors including British chip designer ARM and venture capital firm Walden International, the...

  • Sri Lanka softens its stance on China port city deal Thursday, 22 Jan 2015 | 2:41 PM ET

    COLOMBO, Jan 21- Sri Lanka's new government said on Thursday it might renegotiate a $1.5 billion "port city" deal with China Communications Construction Co Ltd, softening its pre-election threat to scrap the project. "We can renegotiate with China after reassessing the deal," Cabinet Spokesman Rajitha Senarathne told reporters. The site is on 233 hectares of...

  • ST. CATHARINES, Ontario, Jan 22- Prime Minister Stephen Harper voiced complete confidence in the Bank of Canada on Thursday and said its interest rate cut on Wednesday, which caught markets by surprise, was appropriate.

  • PREVIEW-Low oil prices put pressure on GE shares Thursday, 22 Jan 2015 | 2:22 PM ET

    Jan 22- For massive conglomerate General Electric Co, the plunge in oil prices stands to both help and hurt. Since 2007, GE has invested $14 billion in this once-fast-growing unit through acquisitions. "We recognize that lower oil prices will affect this business, but no one knows how much yet," said Charlie Smith, chief investment officer of Fort Pitt Capital, which...

  • Ford opens new Silicon Valley research center Thursday, 22 Jan 2015 | 2:18 PM ET

    Jan 22- Ford Motor Co opened a new Silicon Valley research center in Palo Alto to speed up technology development and experiments in connectivity, mobility, autonomous vehicles and big data, the company said on Thursday. Dragos Maciuca, an engineer formerly with Apple Inc, will head the facility, Ford said. The research center will focus on projects such as the...

  • NEW YORK, Jan 22- Billionaire investor Carl Icahn, whose portfolio is stocked with oil companies, said on Thursday that he expects the price of oil to fall further before it recovers on increased demand. Icahn said he placed the currency bet about 2-1/ 2 to three years ago, when one euro bought about $1.28 U.S. dollars. While one euro bought as many as $1.3992 U.S. dollars...

  • BOSTON, Jan 20- Fidelity's $110 Billion Contrafund has trimmed a roughly $7 billion stake in Google Inc because of portfolio manager Will Danoff's view that the stock faces a potentially choppy market over the short term. Contrafund is the largest U.S. mutual fund investor in Google's stock, which had been its top holding. But Google shares, down 11 percent over...

  • US STOCKS-Wall St gains after ECB stimulus move Thursday, 22 Jan 2015 | 2:08 PM ET

    *Verizon, American Express fall after results. NEW YORK, Jan 22- U.S. stocks rose on Thursday after the European Central Bank announced larger than expected measures to stimulate the region's sagging economy. "Many have said this program is not going to suddenly flip a switch," said John Canally investment strategist at LPL Financial in New York.

  • HOUSTON, Jan 22- Citgo Petroleum confirmed on Thursday its assets are no longer for sale after parent company PDVSA of Venezuela decided to cancel the offering despite receiving several bids, according to Thomson Reuters IFR. The $1 billion senior secured loan being proposed has a rate of Libor +800 basis points and a five-year term, Citgo said in New York,...