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  • LONDON, April 25- Sterling sank to a two-week low against the euro on Tuesday, hit by the single currency's renewed strength as relieved investors turned optimistic on Europe after the first round of the French presidential election. The pound weakened to as much as 85.27 pence per euro after a Reuters report that European Central Bank officials may now feel...

  • NEW YORK, April 25- The Nasdaq Composite index crossed the 6,000 threshold for the first time on Tuesday, aided by gains in a handful of large-cap tech names, more than 17 years after it last marked a 1,000 point milestone. This isn't driven by companies that don't have products, "said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in...

  • *To invest 300 mln euros more in electric drives by 2021. BERLIN/ FRANKFURT, April 25- Car components maker Continental AG is set to invest an extra 300 million euros in electric drives by 2021 but also remains committed to its combustion-based powertrain business, the company said on Tuesday. By raising spending on development of new products such as charging...

  • Toronto- based Coerente Capital Management has filed a letter with the Ontario Securities Commission, Len Racioppo, Coerente's managing director, said in an email to Reuters on Tuesday. "It is pretty outrageous that they would do a deal that would dilute shareholders by 47 percent and not bring it to a vote," Racioppo said, confirming a comment he made earlier to the...

  • NEW YORK— J.Crew, the preppy clothing retailer, will cut about 150 jobs to trim costs. Most of the job cuts will be at its corporate headquarters in New York. The changes will save it about $30 million a year, and the company says it will post a charge of about $10 million in the first quarter due to severance payments and other termination costs.

  • GENEVA, April 25- Mexico can impose annual trade sanctions worth $163.23 million against the United States after winning a dispute over trade in tuna fish, a World Trade Organization arbitrator ruled on Tuesday. The sanctions award was only a third of the $472.3 million Mexico had asked for. Mexico's complaint, which dates back to 2008, focused on U.S. rules on "...

  • HANOVER, Germany, April 25- Russia's Kaspersky Lab has temporarily backed off filing a competition complaint that Microsoft is abusing its market dominance to crowd out anti-virus software makers such as itself, founder and Chief Executive Eugene Kaspersky said. Instead, Kaspersky- who threatened in November to complain to the European Commission- said he...

  • ZURICH, April 25- Novartis reported better-than-expected first-quarter profits on Tuesday with Chief Executive Joe Jimenez saying he remained confident the Swiss drugmaker would return to growth in 2018 as spending to promote new drugs pays off. First-quarter core net income fell 4 percent to $2.69 billion, ahead of the average forecast of $2.67 billion by...

  • *Oil dips on doubts over OPEC's ability to reduce inventories. NEW YORK, April 25- Equity markets continued their advance on Tuesday and a gauge of world stocks notched a record for a second straight session, spurred by speculation about U.S. tax reform and relief at French election results. Bets on clarity regarding the tax code helped boost U.S. stocks, according...

  • Beyonce is marking the anniversary of her album "Lemonade" by announcing scholarships for black women to attend selected colleges. The singer announced that her Formation Scholars Award will go to a single black woman student at four schools. The schools are Boston's Berklee College of Music, New York's Parsons School of Design and two historically black...

  • April 25- The Nasdaq hit 6,000 for the first time on Tuesday and the Dow surged more than 200 points as strong earnings underscored the health of Corporate America. Polls show Macron is likely to beat his far-right rival Marine Le Pen in a deciding vote on May 7. "Political headlines in Europe don't tend to stick, but create buying opportunities more than having...

  • LONDON— A British man has been sentenced to two years in prison for creating and selling a program used in online attacks around the world. Adam Mudd was 16 when he created Titanium Stresser, a program that carried out more than 1.7 million "denial of service" attacks on websites including gaming platforms Minecraft and Xbox Live. Judge Michael Topolski told Mudd...

  • Spinraza, a first-of-its-kind medicine for spinal muscular atrophy, was approved by the U.S. Food and Drug Administration in December. The drug, priced at $125,000 per injection in the first year of use, generated sales of $47 million, handily beating the consensus estimate by $30 million. Spinraza is the first major drug launch under Chief Executive Officer...

  • *Q1 operating EPS $1.64 vs est $1.39. *Net sales up 4.6 pct at $7.74 bln, vs est $7.50 bln. The divestiture was made to win European Union approval for the company's merger with Dow Chemical.

  • *Reluctant to fully suspend Grasberg block cave expansion, would take months to reassemble highly-skilled workers, posing "significant operational issue"- CEO Richard Adkerson. *Grasberg mine ramp up targets mill rate of less than 200,000 tons in Q2, reaching 200,000 tons by end of Q2- Chief Financial Officer Kathleen Quirk. *Q1 conference call ends Source text...

  • NEW YORK— Tyson Foods will pay $3.2 billion to add packaged sandwich maker AdvancePierre to its stable of processed food brands. Tyson Foods Inc. will also assume about $1.1 billion in debt from the Blue Ash, Ohio, company. On Monday, Tyson said that it might sell its Sara Lee frozen bakery business, its Kettle brand and Van's.

  • GRASBERG MINE RAMP UP TARGETS MILL RATE OF LESS THAN 200,000 TONS IN Q2, REACHING 200,000 TONS BY END OF Q2- CHIEF FINANCIAL OFFICER KATHLEEN QUIRK.

  • FREEPORT- MCMORAN RELUCTANT TO FULLY SUSPEND GRASBERG BLOCK CAVE EXPANSION, WOULD TAKE MONTHS TO REASSEMBLE HIGHLY-SKILLED WORKERS, POSING "SIGNIFICANT OPERATIONAL ISSUE"- CEO ADKERSON.

  • ALLENTOWN, Pa.— Lehigh Valley Health Network is moving 500 employees from the suburbs to downtown Allentown, the eastern Pennsylvania city where one of its eight hospitals is located. The white-collar support workers are now located in a business park in Salisbury Township, about four miles from downtown Allentown, Pennsylvania's third-largest city with...

  • PONTE VEDRA BEACH, Fla., April 25- Wells Fargo& Co's annual meeting turned raucous when it was repeatedly interrupted by angry shareholders on Tuesday as the bank's chairman and chief executive tried to calm nerves ahead of a vote that could oust the majority of its board. At least one shareholder was removed and the meeting went into recess after he made what...