India on Sunday put on hold its search for missing Malaysia Airlines flight MH370, at the request of the government in Kuala Lumpur.» Read More
DETROIT, Nov 13- Three people were injured at Tesla Motors Inc's factory in California on Wednesday after a low-pressure aluminum casting press failed, the company said in a statement. Local fire officials said there was no fire at the company's Fremont, California factory, describing the incident as an "industrial accident."
SILVER SPRING, Nov 13- Safety problems associated with Sanofi SA's experimental multiple sclerosis drug Lemtrada should not preclude approval of the drug, though it should be restricted to patients who have failed other therapies, an advisory panel to the U.S. Food and Drug Administration said on Wednesday.
NEW YORK, Nov 13- Network equipment maker Cisco Systems Inc said on its quarterly revenue rose less than expected due to weak demand in emerging markets, the United States and areas such as Southern Europe.
*Wall Street stocks gain on prospects for accommodative Fed. *Treasury yields ease before Yellen's Senate Banking Committee appearance.
Federal Reserve Vice Chair Janet Yellen prepared the following opening remarks for Thursday's hearing before the Senate Banking Committee, which released her remarks on Wednesday. President Barack Obama has nominated Yellen to lead the U.S. central bank when current Fed Chairman Ben Bernanke's term ends in January.
WASHINGTON, Nov 13- Janet Yellen, President Barack Obama's nominee to chair the Federal Reserve, said the U.S. central bank has "more work to do" to help an economy and labor market that are still underperforming.
*Sterling spikes after Bank of England report, UK jobs data. *Focus on Yellen at Senate confirmation hearing.
But use of Merck& Co's widely prescribed Zetia, which is not a statin, and Vytorin, a related drug, will likely not be badly hurt anytime soon, analysts said, because doctors will need time to understand and accept the new guidelines. The Merck drugs have combined annual sales of more than $4 billion, or 10 percent of overall company revenue.
Shares of textbook rental company Chegg, whose staff includes a former Yahoo executive, slump in the IPO off its quoted price of $12.50 each.
WASHINGTON, Nov 13- U.S. authorities are investigating a series of cybersecurity incidents targeting the HealthCare.gov website at the center of President Obama' s healthcare law, a U.S. homeland security official told Congress on Wednesday.
That's the upshot from hedge fund guru Ray Dalio, who thinks investing alpha, or outperformance, will be in short supply in coming years. Dalio, the founder of $120 billion hedge fund firm Bridgewater Associates, thinks the Fed is getting diminishing returns from its bond buying.
NEW YORK, Nov 13- The Dow and the S&P 500 closed at record highs on Wednesday after Macy's strong results relieved anxiety about how retailers will fare during the holiday season and spurred a rally in consumer discretionary shares. The Dow Jones industrial average rose 70.96 points or 0.45 percent, to end unofficially at a record 15,821.63.
WASHINGTON, Nov 13- About 106,000 people signed up for insurance coverage nationally under President Barack Obama's healthcare law during October, the government said on Wednesday, a tiny fraction of the millions of people that had been expected to enroll for next year.
*Yellen to appear before Senate Banking Committee Thursday. NEW YORK, Nov 13- U.S. Yellen, currently Fed vice chair and nominated by President Barack Obama to succeed Chairman Ben Bernanke, will speak before the Senate Banking Committee on Thursday.
TOKYO, Nov 14- A year after Prime Minister Shinzo Abe took financial markets by storm with promises to end two decades of deflation and tepid growth, the economy is expected to slow sharply, highlighting the challenges facing "Abenomics" in ensuring a durable recovery.
SINGAPORE/ SHANGHAI, Nov 14- The Shanghai Futures Exchange plans to launch an oil futures contract that will compete to become the benchmark price for the 30 million barrels of crude consumed in Asia every day. Contract unit: 100 barrels; versus 1,000 barrels for global benchmarks WTI and Brent as China aims to also attract retailers' interest.
SINGAPORE/ SHANGHAI, Nov 14- China will increasingly dominate global oil trade with a fuel import bill worth half a trillion dollars a year by the end of the decade- a lucrative prospect for futures exchanges battling to provide the benchmark to price Asia's oil.
QUITO, Nov 13- Ecuador's highest court upheld a verdict that U.S. oil company Chevron Corp is responsible for pollution in an Amazon rainforest, but halved the fine imposed in a previous trial to $9.5 billion, a decision the company dismissed as illegitimate.
Production could be "in the 14 billion range" even if the U.S. Environmental Protection Agency lowers its target for use of renewable fuels, ADM CEO Patricia Woertz said in a webcast of a Morgan Stanley conference. The EPA is expected to propose new targets for its Renewable Fuel Standard as early as this week.
Nov 13- Shares of YRC Worldwide Inc lost a quarter of their value, as the trucking company struggled with the implementation of operational changes designed to help reduce its large debt.