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  • The non-binding recommendation could clear the way for the cheaper medication from Celltrion, which would only be the second in a new class of quasi-generic biotech drugs to reach the U.S. market. After nine hours of discussion the FDA panel of outside experts voted 21-3 in favor of approval for all the diseases currently indicated on Remicade's label.

  • BILLINGS, Mont.— A utility serving 26,000 eastern Montana customers scaled back its proposal for a steep rate hike on Monday, just a day before the matter was scheduled to go before state regulators for a public hearing. Montana-Dakota Utilities Co. planned to file a new application with the Montana Public Service Commission reducing the proposed rate hike...

  • SIOUX FALLS, S.D.— Jessica Ries settles in behind the counter of Tip Top Tux and phones a couple to remind them of an upcoming fitting before their wedding. Dennis Daugaard has proposed a half-cent sales tax increase to help raise teacher pay, but his plan needs two-thirds approval in both the House and the Senate— a tough proposition in a legislature with an...

  • *Britain's BP bets on Egyptian gas, Shell on major acquisition. LONDON/ HOUSTON, Feb 7- As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Britain's BP is betting on offshore gas in Egypt, while Royal Dutch Shell has opted for an alternative route...

  • HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 48 this week to 571.. Among major oil- and gas-producing states, Texas declined by 19 rigs, Oklahoma dropped eight, Louisiana dropped five, Pennsylvania lost three, North Dakota, Utah and Wyoming each declined by two and Ohio dropped...

  • The value of those loans will have to be written down even further, and bank profits are going to take a hit, the credit agency Moody's said in a report issued Friday. The loans on the balance sheets of the biggest banks on Wall Street— JPMorgan Chase, Goldman Sachs, Citigroup, Morgan Stanley, Wells Fargo and Bank of America— represent only a small percentage of these...

  • WASHINGTON, Feb 5- Barack Obama might seem an unlikely investor in the firearms industry. Since Obama was elected in 2009, mutual funds have raised their stakes to about $510 million from $30 million in the nation's two largest gun manufacturers with publicly traded shares, Smith& Wesson Corp and Sturm, Ruger& Co. The White House declined to comment on Obama's...

  • LONDON, Feb 4- The number of people employed in oil and gas extraction and support activities across the United States has fallen by around 100,000 since October 2014. Between October 2014 and November 2015, the number of people on the payroll of oil and gas extraction firms and support services fell by almost 87,000, according to the U.S. Bureau of Labor...

  • WASHINGTON— The food industry is pressuring Congress to act before the state of Vermont requires food labels for genetically modified ingredients. At issue is how food companies will deal with Vermont's law. The food industry wants Congress to pre-empt Vermont's law and bar mandatory labeling of genetically modified foods before it goes into effect.

  • Attorney Preet Bharara's office, was among a series of cases against banks following the financial crisis stemming from mortgages insured through a program by the Federal Housing Administration. Wells Fargo said the settlement was reached on Feb. 1 and would also resolve claims by the U.S. Attorney's Office in San Francisco and the U.S. Department of Housing...

  • Wells Fargo to pay $1.2 billion to settle home loan case Wednesday, 3 Feb 2016 | 11:16 AM ET

    NEW YORK— Wells Fargo said it has agreed to pay $1.2 billion to settle a government lawsuit related to its Federal Housing Administration home mortgage program. The bank said Wednesday it reached the agreement earlier this week with the U.S. Department of Justice, two attorneys general and the Department of Housing and Urban Development.

  • Facts and figures show the impact of low oil prices Tuesday, 2 Feb 2016 | 1:35 PM ET

    North Dakota faces a $1 billion budget shortfall. Alaska's gap is an estimated $3.5 billion. —Gasoline is expected to average just $2.03 a gallon this year, down from $2.43, according to the Energy Department.

  • Oil has fallen from $107 to around $30 in the past 19 months. Furious production by the U.S. and OPEC led to an oversupply. In a recent research note, Goldman Sachs predicted "the path to a rebalanced market will be protracted and arduous."

  • BISMARCK, N.D.— North Dakota Gov. North Dakota is the nation's second top oil-producing state, behind only Texas, and has the lowest unemployment rate in the country at less than 3 percent. "After 15 years of receiving almost entirely good news about the growth in revenues for North Dakota, it seems strange to hear that things have gone in the other direction,"...

  • HOUSTON, Jan 29- Phillips 66 may consider increasing its 25 percent stake in Energy Transfer Partners' pipeline project to move North Dakota Bakken oil to Illinois and Texas, but likes its current commitment as is, President Tim Taylor told analysts on Friday. The project involves two legs: the new 1,168- mile North Dakota- to-Illinois Dakota Access Pipeline; and...

  • Gulf of Mexico output fell 57,000 bpd, while onshore production inched up 3,000 bpd in Texas and rose 5,000 bpd in North Dakota, broadly in line with previously reported state data. Some analysts believed the data is not necessarily a reflection of the current supply landscape, saying the Gulf of Mexico output was lower in November but still higher year over year.

  • Drillers removed 12 oil rigs in the week ended Jan. 29, bringing the rig count down to 498, the least since March 2010, oil services company Baker Hughes Inc said. Three major U.S. shale oil companies this week slashed their 2016 capital spending plans more than expected in a bid to survive $30 a barrel oil prices, with Continental Resources saying prices would need...

  • Jan 29- Chevron Corp reported its first quarterly loss in more than 13 years on Friday despite Wall Street's expectations for a profit, as plunging oil prices eroded profitability across all its divisions. The company posted a fourth-quarter net loss of $588 million, or 31 cents per share, compared with a net profit of $3.47 billion, or $1.85 per share, in the...

  • BISMARCK, N.D.— North Dakota and Minnesota are helping farmers with the three-year transition from traditional crops to organic production, an effort that the industry's main trade group says could boost the acreage of organically grown crops in the U.S. if it takes root beyond the upper Midwest. Minnesota started its grant program first, in 2013, and North...

  • Jan 28- Wells Fargo& Co and Bank of America Corp are working to integrate mobile payment system Apple Pay into their ATMs, technology news website TechCrunch reported. BofA told Reuters it is currently working on a new cardless ATM solution, and plans to unveil it in late February to associates at select ATMs in Silicon Valley, San Francisco, Charlotte, New York and...