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Wires

  • Brent Saunders, CEO of Botox maker Allergan PLC, last September announced a new "social contract" under which the company would limit annual list price increases for its drugs to below 10 percent. After deducting the discounts insurers and other payers get off the higher list price, Allergan will receive net price increases of around 2 percent to 3 percent on its...

  • NEW YORK— Samsung's fiasco with its fire-prone Note 7 phone has pushed its rival LG to take additional precautions with its next smartphone. Samsung recalled millions of Note 7 phones after dozens overheated and caught on fire. "We started by placing these two as far apart as possible and then built the phone around it," LG spokesman Frank Lee said.

  • MUMBAI, Feb 26- U.S. private equity firm Lone Star has joined up with Indian infrastructure financier IL&FS to invest in struggling Indian infrastructure projects, the companies said on Sunday. The collaboration will have an investment capital pool of $550 million, which could result in asset purchases of up to $2.5 billion, the partners said.

  • MINSK, Belarus— Local media in Belarus say about 3,000 people have demonstrated across the country against an unpopular new labor law that targets the unemployed. Many in Belarus are unhappy with a so-called "anti-sponging" law that forces citizens to pay the equivalent of $250 if they work less than half the year and do not register with nation's labor...

  • BERLIN, Feb 26- Greece must not be granted a "bail in" that would involve creditors taking a loss on their loans, Germany's deputy finance minister said in an interview broadcast on Sunday, reiterating the German government's opposition to debt relief for Athens. The IMF has called for Greece to be granted substantial debt relief, but this is opposed by Germany,...

  • *Early 2017 euro zone data promises growth. LONDON, Feb 26- Over the years, euro zone economic growth has been a bit like the Sirens in Homer's Odyssey: singing a song of promise, only to end up pulling you onto the rocks. One eye-opening example was the release of flash purchasing managers indices for France, Germany and the euro zone on Feb 21.

  • NEW YORK— A trans-Atlantic wave of puzzlement is rippling across Sweden for the second time in a week, after a prominent Fox News program featured a "Swedish defense and national security advisor" who's unknown to the country's military and foreign-affairs officials. Swedes, and some Americans, have been wondering about representations of the Nordic nation in...

  • BEIJING, Feb 26- China will focus on stable development of its capital markets this year, but will press ahead to further open its markets to foreign companies, the top securities regulator said on Sunday. "We will not waver from reforms more market-based, law-based and international, Liu Shiyu, chairman of the China Securities Regulatory Commission, told a news...

  • Foreign Secretary S. Jaishankar is expected to discuss with American officials India's concerns over proposed U.S. legislation that could make it harder for companies to replace American workers with those from India and other countries. U.S.- India relations generally prospered under the Obama administration, but New Delhi will be hoping that Trump...

  • VATICAN CITY— God's love may be free, but the Vatican says it has a copyright on the pope. Unnerved by the proliferation of papal-themed T-shirts, snow globes and tea towels around the world, the Vatican has warned it intends to "protect" the image of Pope Francis and "stop situations of illegality that may be discovered." "The secretary of state will undertake...

  • BILLINGS, Mont.— The Interior Department has put on hold changes to how the federal government values huge volumes of coal extracted from public lands, primarily in the Western United States, after mining companies challenged the agency in federal court. The changes, crafted under the administration of President Barack Obama, were aimed at ensuring companies...

  • *Month-long tour includes Indonesia, China, Japan and others. KUALA LUMPUR/ DUBAI, Feb 26- Malaysia welcomed Saudi Arabia's King Salman on Sunday for the start of a rare, month-long Asian tour, where the monarch will build ties and seek to draw more investments to the oil-rich gulf nation. King Salman also plans to visit Indonesia, Brunei, Japan, China, the Maldives and...

  • BEIJING— China needs to do more to stop risky behavior in its stock market, a regulator said Sunday, following a 2015 collapse in share prices and complaints investors are engaged in a dangerous new round of speculative buying. Regulators need to stop "blind expansion" by financial firms, the deputy chairman of the China Securities Regulatory Commission, Li Chao,...

  • BANJUL, Feb 25- The World Bank's Vice President for Africa, Makhtar Diop, said on Saturday he had agreed to give Gambia $60 million in budget support after government allegations that former ruler Yahya Jammeh took tens of millions of dollars in public money, leaving it heavily indebted. "All parastatals, especially the National Water and Electricity Company,...

  • Pruitt added the EPA's focus on combating climate change under former President Barack Obama had cost jobs and prevented economic growth, leading many Americans to want to see the EPA eliminated completely. "I think people across this country look at the EPA much like they look at the IRS. Pruitt was confirmed as EPA head last week.

  • PRAGUE, Feb 25- Czech Finance Minister Andrej Babis got re-elected on Saturday as chairman of the ANO party which he founded and vowed to cut taxes after the autumn general elections that his party is projected to win. "Let's make the Czech Republic excellent again," he said, before he received 93- percent support from the delegates. The Czech Republic, a European...

  • NEW YORK, Feb 25- Billionaire investor Warren Buffett on Saturday attacked what he saw as tricks used by U.S. companies to boost earnings and stock prices, but he defended one oft-criticized practice: share buybacks. Some critics, including BlackRock Inc Chief Executive Officer Larry Fink, think the practice of companies buying back their own shares to boost...

  • BARCELONA, Spain, Feb 25- Blackberry Ltd may have exited the device business, but fans of the pioneering email machine need not despair as Chinese smartphone maker TCL Communication has introduced its first Blackberry-licensed phone with the physical keyboard that was long its key allure. The new BlackBerry KEYone smartphone was unveiled here ahead of the...

  • Feb 25- Berkshire Hathaway Inc shareholders might have been forgiven on Saturday for looking at the company's annual report and wondering why some $56 billion of cash appeared to vanish. In his annual shareholder letter, Buffett said Berkshire has about $86 billion of cash and equivalents, roughly triple the $28 billion shown on the cash flow statement.

  • Feb 25- Warren Buffett on Saturday used part of his annual letter to Berkshire Hathaway Inc shareholders to defend the businesses practices of one of his conglomerate's lesser-known but more controversial operating units: Clayton Homes. The mobile home unit, which Berkshire bought for $1.7 billion in 2003, came under fire in reports two years ago in the...