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  • WASHINGTON, Jan 17- One of the most powerful Democrats in the U.S. Congress on Tuesday pressed President-elect Donald Trump to keep the consumer financial watchdog agency's current director, as rumors about a possible termination and replacement swirled. Senate Democratic leader Chuck Schumer told reporters that Trump will break his campaign promise of "...

  • NEW YORK, Jan 17- New York's financial services regulator on Tuesday formally opposed a plan by a federal banking regulator to offer special-purpose charters that would let online lenders and other "fintech" companies do business nationwide. Maria Vullo, superintendent of New York's Department of Financial Services, said the charter proposal from the Office...

  • *Dryness seen continuing in Brazil's robusta region. NEW YORK/ LONDON, Jan 17- Robusta coffee futures on ICE rose to a 4-1/ 2 year high on Tuesday, lifted by prospects for a smaller crop in Brazil due to poor weather, while New York cocoa turned higher as the British pound surged. Meteorologist MDA Information Systems forecast that despite weekend rains in parts of...

  • *Russia oil production to reach record high in 2017- Reuters poll. *Rising U.S. production seen offsetting OPEC cuts- U.S. NEW YORK, Jan 17- Oil prices edged higher on Tuesday propped up by a decline in the U.S. dollar and comments by Saudi Arabia that it would adhere to OPEC's commitment to cut output.

  • Jan 17- Goldman Sachs Group Inc head of global compliance Alan Cohen is stepping down. Cohen, who will now be a senior adviser to Goldman's executive office, will be replaced by Controller and Chief Accounting Officer Sarah Smith, according to a firm memo on Tuesday. Smith will be replaced by deputy controller Brian Lee.

  • Jan 17- Goldman Sachs Group Inc head of global compliance Alan Cohen is stepping down. Cohen, who will now be a senior adviser to Goldman's executive office, will be replaced by Controller and Chief Accounting Officer Sarah Smith, according to a firm memo on Tuesday. A Goldman spokesman confirmed its contents.

  • Jan 17- U.S. stocks fell on Tuesday, weighed down by financial and healthcare stocks, as investors turned skittish following President-elect Donald Trump's remarks on the dollar and drug pricing. Biotech and pharma stocks declined after Trump told the Washington Post that he would target companies over drug pricing and that he was ready to unveil a plan to...

  • President-elect Donald Trump had misunderstood the Iran nuclear deal and that it was not up for renegotiation. This cannot be done, " Helga Schmid, Secretary General of the European Union's foreign policy service in Brussels, said of the deal brokered by the bloc between Iran, the United States, France, Germany, Britain, Russia and China. Despite their often fraught...

  • Jan 17- Morgan Stanley's profit doubled in the fourth quarter as trading activity surged across Wall Street, and the bank said it was on track to reach a number of financial goals set out by Chief Executive James Gorman. Morgan Stanley's trading results echoed those of JPMorgan Chase& Co and Bank of America Corp last week, driven by Donald Trump's surprise...

  • "We removed the language at issue from our form separation agreement prior to being contacted by the SEC and there was no finding that this provision ever prevented an employee from communicating with the agency." The SEC in 2011 adopted rules designed to encourage people to come forward with tips about possible corporate wrongdoing. Since 2015, the SEC has...

  • Jan 17- Biogen Inc said on Tuesday it would pay Forward Pharma A/S $1.25 billion to license the Danish company's patents covering multiple sclerosis drugs, providing Biogen an insurance policy on future sales of Tecfidera, its blockbuster oral treatment for the disease. Biogen and Forward Pharma have been locked in a dispute over the patents for dimethyl...

  • NEW YORK— The first property ever connected to President-elect Donald Trump has become a hot spot for real estate deal-making. Paramount Realty USA offered the 1940 Tudor-style house in a leafy part of Queens to bidders last fall, but that auction was canceled amid a burst of last-minute interest. Paramount principal Misha Haghani says "there's no doubt it's...

  • WILMINGTON, Del, Jan 17- Education Management Corp scored a victory in its fight against an investor opposed to its $1.5 billion debt-cutting plan on Tuesday, when a U.S. appeals court overturned a decision in a closely watched case involving creditors' rights. The U.S. Court of Appeals in Manhattan said a lower court erred in its ruling that a Depression-era law,...

  • The Congressional Budget Office analyzed a GOP 2016 repeal measure, which Republicans have cited as a starting point for their 2017 drive to dismantle and replace Obama's health overhaul. While Republicans have produced several outlines for how they'd recraft Obama's 2010 statute, they've never united behind one plan despite years of trying and there are...

  • *Russia oil production to reach record high in 2017- Reuters poll. *Rising U.S. production seen offsetting OPEC cuts- U.S. NEW YORK, Jan 17- Oil prices were little changed on Tuesday as forecasts for record production out of Russia in 2017 helped offset earlier gains related to a decline in the U.S. dollar and Saudi Arabia saying it would adhere to OPEC's commitment to...

  • Biotechnology and pharmaceutical stocks came under pressure after President-elect Donald Trump told the Washington Post that he would target drug companies over pricing and that he was ready to unveil a plan to replace Obamacare. Investors maybe concerned that Trump is "going after the Affordable Care Act and is burning a little political capital that...

  • JERUSALEM— Israel's Benjamin Netanyahu might be upbeat these days: The economy is growing, his opposition is weak and the incoming Trump administration seems friendly, even to the much-maligned Jewish settlements in the West Bank. It follows previous allegations that Netanyahu improperly accepted lavish gifts from wealthy supporters— including...

  • Congress and President-elect Donald Trump move to repeal the Affordable Care Act, popularly known as Obamacare. The Republicans, who control the U.S. Senate, plan to replace it with something else, but it is not clear yet what. That includes the possibility of ACA-like state-based exchanges where states choose, Medicaid for eligible and paying customers and...

  • WASHINGTON, Jan 17- A leading Federal Reserve proponent of low interest rates said on Tuesday the U.S. central bank might hike rates more aggressively if deficit spending under the Trump administration produced a quick economic boost. "If fiscal policy changes lead to a more rapid elimination of slack, policy adjustment would, all else being equal, likely be more...

  • SEATTLE, Jan 17- Boeing Co said its chief executive will meet with Donald Trump on Tuesday, at the President-elect's request, to discuss its Air Force One presidential jumbo jet based on the Boeing 747 airliner and possibly a fighter jet sale. Trump called the meeting at Trump Tower in New York after he pressured the Chicago- based aerospace and defense company...