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  • NEW YORK— Cable and telecom industry groups want a federal appeals court to reconsider its ruling on "net neutrality" that preserved regulations forcing internet providers to treat all online traffic equally. The Wireless Association, an industry trade group also known as CTIA, and other groups on Friday filed petitions for the case to be reheard by all of the...

  • The drug, used to treat forms of arthritis and Crohn's disease among other conditions, generated sales of $4.15 billion in the quarter, topping the consensus estimate of $3.93 billion, compiled by Evercore ISI. Amgen, as the first to seek U.S. approval, could end up first to market, after an advisory panel to the U.S. Food and Drug Administration backed its copycat...

  • SHANGHAI, July 29- China stocks closed lower on Friday as investors dumped small counters amid signs of a fresh regulatory clampdown on rampant speculation, which will hit excessively valued small caps. The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 0.5 percent, to 3,203.93, while the Shanghai Composite Index lost 0.5 percent to...

  • China CSI300 stock index futures for August were flat at 3,193.6, 24.18 points below the current value of the underlying index and suggesting investors are expecting further losses. Among other moves, China is considering rules to restrict investments by small banks in the $3.5 trillion wealth management product industry, draft rules seen by Reuters...

  • SAN FRANCISCO— Microsoft says it is cutting 2,850 jobs, about 2.5 percent of its workforce, as it further scales back its troubled smartphone business. A spokeswoman says the layoffs will mostly affect workers in the company's smartphone hardware operation and related sales teams. Microsoft Corp. disclosed the planned job cuts in a regulatory filing, which...

  • MILAN, July 28- Italy's third-biggest lender, Monte dei Paschi di Siena, has received a last-minute rescue proposal by Swiss bank UBS, just hours before it is due to unveil its own bailout plan to meet regulators' concerns over its stability. The bank said in a statement on Thursday night it had received two letters from UBS and former Italian Industry Minister...

  • WASHINGTON, July 28- The U.S. watchdog for consumer finances unveiled on Thursday a proposal to toughen regulation of the multibillion-dollar debt collection industry, with a focus on keeping agencies from pushing people to pay debts they do not owe, informing borrowers of their rights and cutting down on calls to debtors. Both the industry and consumer...

  • A lumberjack cuts logs that have been harvested at an NJB Logging LLC site in Chesterland, Ohio.

    Some of the banks could be broken up, but it may not be Washington that makes it happen.

  • The company said on Thursday that it had realized $90 million of its full-year cost savings target of $300 million in the second quarter. The merger is being scrutinized by regulators in the United States and Europe, and the companies have offered concessions in a bid to allay EU antitrust concerns. "No discussion we have had with the European Commission takes us...

  • Surfer wipeout

    Some EU banks struggled with U.S. stress tests. Now, they have to play at home.

  • BEIJING, July 28- China's stock regulator is preparing to tighten regulation of listed real estate companies using refinancing tools to supplement cash flows and pay off debt, according to comments by an unnamed official quoted in the official People's Daily. The paper quoted an unnamed official from China's Securities Regulatory Commission saying during...

  • BEIJING— China's Cabinet issued its first rules for ride-hailing and told local officials Thursday to promote the booming industry, confirming the legal status of Uber Technologies Inc. and local competitors following run-ins with regulators. China is one of a series of markets where Uber and competitors have grown fast but faced legal challenges to their...

  • BT avoids call for breakup

    Neil Dwane, global strategist at Allianz Global Investors, discusses U.K. telecoms after regulators decided against breaking up BT's broadband business.

  • NEW YORK— The Consumer Financial Protection Bureau proposed a massive overhaul of the multibillion dollar debt-collection industry on Thursday, which would restrict collectors from calling numerous times a day, require them to have more documentation on what's owed, and give people more ability to dispute their bills. It would be the biggest overhaul of the...

  • WASHINGTON, July 28- The U.S. watchdog for consumer finances unveiled on Thursday a major proposal to toughen regulation of the multibillion-dollar debt collection industry, with a focus on keeping agencies from pushing people to pay debts they do not owe, informing borrowers of their rights and cutting down on calls to debtors. "Today we are considering...

  • SEOUL, July 28- South Korean tech giant Samsung Electronics Co Ltd said on Thursday its second-quarter operating profit rose 18 percent from a year earlier to its best in more than two years, propelled by a pickup in smartphone earnings. Samsung said in a regulatory filing its April-June operating profit was 8.1 trillion won, matching the 8.1 trillion won it...

  • The decision followed an assessment of the mine's plan in the context of the Toronto- based company's global capital priorities, it said. Chile's environmental regulator shut down the water system attached to the Maricunga mine in March, citing environmental damage which Kinross disputes. Kinross reported an adjusted net loss of $9.8 million, or 1 cent per...

  • WASHINGTON, July 27- Teva Pharmaceutical Industries Ltd won U.S. antitrust approval to purchase Allergan Plc's generics business, after agreeing to divest 79 generic drugs to rival firms, the Federal Trade Commission said on Wednesday. "Millions of Americans rely daily on generic drugs to treat a wide range of illnesses," Debbie Feinstein, director of the FTC's...

  • July 27- The U.S. Justice Department's criminal-fraud section sent diagnostic-testing company Alere Inc a subpoena last month seeking patient-billing records, the WSJ reported, citing people familiar with the matter. The subpoena asked for information about Alere's efforts to collect co-payments from patients, as well as forms submitted on their behalf...

  • NEW YORK— Israeli drugmaker Teva, the largest generic drug company in the world, said Wednesday it expects to complete its $40.5 billion purchase of the generic drug business of competitor Allergan next week after federal regulators approved the deal. The FTC said Allergan runs the third-largest generics company in the U.S. That business previously belonged...