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  • *Energy firms cutting back projects that need insuring. LONDON, Feb 10- The insurance industry is becoming the latest casualty of the oil price slump, with postponements and cancellations of energy projects forcing down premium rates and income in a market that was already crowded. Hannover Re's chief executive Ulrich Wallin used some understatement in...

  • Feb 10- Viacom Inc investor SpringOwl Asset Management called for the media company's independent directors to step down immediately, days after the board appointed Chief Executive Philippe Dauman as executive chairman. SpringOwl, which has been agitating for change at Viacom, said in a statement that the board is not representing the wishes of...

  • FRANKFURT, Germany— Automaker Volkswagen says it is recalling 680,000 vehicles with suspect air bag inflators in the United States. Volkswagen says it has notified the U.S. National Highway Traffic Safety Administration of the upcoming action involving VW vehicles from model years 2006 to 2014 and that it plans to notify the owners of all affected vehicles.

  • TORONTO, Feb 10- Canada's main stock index rose on Wednesday as financial stocks clawed back some losses from the start of the week, offsetting energy and mining stocks that slid as crude oil prices fell. Federal Reserve Chair Janet Yellen said conditions in the United States would allow the U.S. central bank to pursue "gradual" adjustments to monetary policy.

  • *Norway, Qatar have holdings in major European stocks. LONDON, Feb 10- Up to $700 billion of European stocks, including major banks, could be in the firing line as the slump in oil prompts some producer countries' sovereign wealth funds to offload investments. Worries about oversupply in the oil market and a slowdown in China, the world's second-biggest economy, have...

  • Feb 10- A U.S. judge on Wednesday rejected a request to reconsider his approval for a settlement fund to resolve more than a thousand lawsuits over injuries and deaths blamed on an ignition switch defect that prompted General Motors to recall 2.6 million vehicles. The motion filed by Lance Cooper, a Georgia attorney who first publicly exposed the defect, accused...

  • *Budget shortfall up to $30 bln if oil prices stay at $30. MOSCOW, Feb 10- Russia is running out of options to plug a yawning hole in its budget- and steps unthinkable before oil prices began to plunge 20 months ago are now being considered. It could face an additional shortfall of up to 2.5 trillion roubles this year if crude prices stay at around $30 per barrel, putting...

  • CALGARY, Alberta, Feb 9- Faced with record low prices for heavy crude, Canadian energy companies are sacrificing other parts of their business to keep higher-cost oil sands production going and safeguard the billions already invested in these multi-decade projects. Although the move to support higher-cost production seems counterintuitive, oil sands...

  • CHICAGO— Grain futures were mostly lower Wednesday in early trading on the Chicago Board of Trade. Wheat for March delivery was 2 cents higher at $4.5940 a bushel; March corn was 1 cent lower at $3.60 a bushel; March oats were 3 cents lower at $1.9260 a bushel; while March soybeans was. 25 cent lower at $8.63 a bushel. April live cattle was 1.15 cents higher at $1.3230 a...

  • WASHINGTON, Feb 10- A top Federal Reserve policymaker on Wednesday expressed concern that U.S. reforms enacted after the global financial crisis may have made it harder to stem a credit market panic, a warning that came amid growing stress in corners of the banking sector. In a speech that followed weeks of plunging stock prices for global banks and growing...

  • President Barack Obama' s budget would raise $319 billion over 10 years from the phased introduction of an oil fee equivalent to $10.25 per barrel on crude oil, according to budget documents published on Tuesday. The Office of Management and Budget has not shared its revenue-modelling assumptions or proposal for how the fee would be administered.

  • NEW YORK— Got hundreds of Facebook friends you hardly know? Now is a good time to do some digital cleanup, while the year is still fresh. Review your security and privacy settings, and make sure those casual acquaintances you met at a bar eons ago aren't still getting the most intimate details of your life.

  • LOS ANGELES— The powerful agency that manages development on California's coastline could oust its top executive Wednesday in what has emerged as a showdown between environmentalists and business groups. The potential shake-up at the California Coastal Commission raises questions about the direction of an agency often caught in the clash between...

  • CARACAS, Venezuela— Shopping malls across Venezuela are preparing to dramatically reduce their hours to comply with a government electricity rationing order. Venezuela's socialist government says that starting Wednesday, more than 100 malls will have to close or generate their own power four hours each day, from 1 p.m. to 3 p.m. and from 7 p.m. to 9 p.m..

  • Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and Kremlin oil tsar Igor Sechin proposed producing countries cut output by 1 million barrels per day- without saying whether non- OPEC member Russia would do so. While traders and delegates from OPEC doubt any deal between the group and rival producers- which would be the first in over a...

  • BRUSSELS— NATO and the European Union have signed an agreement to improve cooperation in cyberdefense, which NATO Secretary-General Jens Stoltenberg called a concrete example of the two Brussels- based organizations joining forces to counter modern forms of hybrid warfare. The technical agreement, signed at NATO headquarters on Wednesday, establishes a...

  • ORLANDO, Fla. _ Gencor Industries Inc. on Wednesday reported fiscal first-quarter net income of $1.6 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Orlando, Florida- based company said it had net income of 16 cents. Keywords: Gencor Industries, Earnings Report.

  • WASHINGTON, Feb 10- Tightening financial conditions driven by falling stock prices, uncertainty over China and a global reassessment of credit risk could throw the U.S. economy off track from an otherwise solid course, Federal Reserve Chair Janet Yellen said on Wednesday in prepared testimony to Congress. In remarks that combined a steady-as-she-goes...

  • NEW YORK— Twitter is tweaking its timeline. The social media site will let people turn on a setting that lets popular tweets related to people you follow show up first in your timeline, followed by the real-time feed most people on Twitter are used to. CEO Jack Dorsey was compelled to tweet that the real-time stream won't change.

  • NEW YORK, Feb 10- Long-battered shares of coal companies jumped on Wednesday after the U.S. Supreme Court put on hold federal regulations to curb carbon dioxide emissions mainly from coal-fired power plants. The court's 5-4 ruling on Tuesday delivered a major blow to President Barack Obama, by blocking the centerpiece of his administration's strategy to...