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  • GENEVA, Feb 22- A global agreement to boost trade by cutting red tape and streamlining border checks came into force on Wednesday, promising a 0.5 percent lift to the world economy by 2030 even as it faces renewed protectionism from the United States. World Trade Organization Director General Roberto Azevedo hailed the start of the pact, which he said was the "...

  • NEW YORK— The latest on developments in financial markets:. Newfield Exploration sank 9 percent. Newmont Mining dropped 2 percent after reporting earnings that were weaker than Wall Street analysts were expecting.

  • *Loonie touches weakest since Feb. 7 at C $1.3210. It reinforces the view that the Bank of Canada will not be following the Federal Reserve with interest rate hikes, he added. The chances of a Bank of Canada interest rate hike this year dipped to 25 percent from more than 30 percent before the retail sales report, data from the overnight index swaps market showed.

  • TORONTO, Feb 22- Canada's main stock index fell on Wednesday, pulling back from a record high the day before, as lower oil prices weighed on the shares of energy companies. The Toronto Stock Exchange's S&P/TSX composite index was down 26.47 points, or 0.17 percent, at 15,895.90, shortly after the open. Eight of the index's 10 main groups were lower.

  • Feb 22- Verizon Communications Inc said on Wednesday it would offer its high-speed wireless 5 G network to certain customers in 11 U.S. cities in the first half of 2017.. Verizon will begin pilot testing 5 G "pre-commercial services" in cities, including Atlanta, Dallas, Denver, Houston, Miami, Seattle and Washington, D.C.. AT&T Inc said in January that it planned to test...

  • Feb 22- CVS Health Corp said its pharmacy chain had removed artificial trans fats, which have been linked to rising rates of heart diseases, from its store-branded food products well ahead of a June 2018 federal deadline. The U.S. Food and Drug Administration said in June 2015 that PHOs were not "generally recognized as safe" for use in human food and gave food...

  • MONTE CARLO MC, Monaco _ Navios Maritime Holdings Inc. on Wednesday reported fourth-quarter net income of $28.2 million, after reporting a loss in the same period a year earlier. For the year, the company reported that its loss narrowed to $45.1 million, or 42 cents per share. This story was generated by Automated Insights using data from Zacks Investment...

  • Shares rose 1.8 percent to $64.00 in pre-market trading on Wednesday. "The underlying satellite business continued to underperform," said Spencer Kurn, an analyst at New Street Research. Craig Moffett, an analyst at MoffettNathanson, estimated that Dish lost 245,000 satellite subscribers in the fourth quarter. "

  • Feb 22- TJX Cos Inc, the parent company of T.J. Maxx and Marshalls, reported better-than-expected profit and comparable store sales, as its discounted offerings attracted shoppers during the holiday season. TJX also operates HomeGoods and Sierra Trading Post stores in the United States. TJX's net income rose to $677.9 million, or $1.03 per share, in the fourth...

  • LISBON, Portugal— Portugal is finding it hard to please the International Monetary Fund. Despite fighting its way out of a financial crisis, cutting the budget deficit to its lowest level in more than 40 years and boosting growth through exports, the IMF says Portugal must do more. The IMF said in a report Wednesday that Portugal must reduce its government and...

  • KHOBAR, Saudi Arabia/ LONDON Feb 22- Oil giant Saudi Aramco is believed to be the front-runner to buy Turkish fuel stations business Petrol Ofisi from Austrian oil group OMV, sources familiar with the matter said. For SOCAR, owning a large number of petrol stations in Turkey would offer a natural outlet for the Star refinery it is building in Turkey and hoping to...

  • Feb 22- Puerto Rico bondholders whose debt is backed by the U.S. territory's sales tax revenue, known as COFINA creditors, are asking a federal court to prevent the island from diverting those tax revenue streams to pay other creditors. A group of funds holding more than $2 billion in COFINA debt on Wednesday sought to intervene in a lawsuit filed by some of Puerto...

  • NEW YORK— Unilever is reviewing options after rival Kraft Heinz withdrew a $143 billion takeover offer. Unilever and Kraft Heinz said in a joint press release on Sunday that Kraft Heinz had "amicably" abandoned its offer. The deal that was withdrawn would have combined Kraft Heinz products such as Oscar Mayer, Jell-O and Velveeta with Unilever's stable of brands,...

  • BOSTON _ Eaton Vance Corp. on Wednesday reported fiscal first-quarter earnings of $60.7 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share. Eaton Vance shares have climbed 6 percent since the beginning of the year.

  • *Banks hurt economy, Italy saddled with pile of bad loans. BRUSSELS, Feb 22- The European Commission warned Italy on Wednesday it risked disciplinary action if it did not adopt promised measures to cut its deficit, adding to pressure on a government facing possible early elections and rising euro-skeptic sentiment. Italy is set to increase its huge public debt...

  • NEW DELHI, Feb 22- The cost of recapitalising India's struggling banks would be affordable even under a negative scenario, the International Monetary Fund said on Wednesday, urging government steps to strengthen the financial system. Weighing into a renewed debate on tackling India's $130 billion in stressed loans, the IMF said "recapitalisation costs...

  • NEW DELHI, Feb 22- The cost of recapitalising India's struggling banks would be affordable even under a negative scenario, the International Monetary Fund said on Wednesday, urging government steps to strengthen the financial system. Weighing into a renewed debate on tackling India's $130 billion in stressed loans, the IMF said "recapitalisation costs...

  • Feb 22- Argos Therapeutics Inc said on Wednesday that an independent data monitoring committee concluded that the company's experimental treatment for metastatic renal cell carcinoma would likely fail. The company's share plunged about 72 percent in premarket trading. The company said it is analyzing the trial data and plans to discuss it with the U.S. Food...

  • *Fed to release minutes at 2:00 p.m. ET. The Fed will release the minutes of its Jan. 31- Feb. 1 meeting at 2:00 p.m. ET. "The market has priced in rate hikes and is welcoming it," said Andre Bakhos, managing director at Janlyn capital in Bernardsville, New Jersey.

  • FRAMINGHAM, Mass. _ The TJX Cos. on Wednesday reported fiscal fourth-quarter net income of $677.9 million. The Framingham, Massachusetts- based company said it had profit of $1.03 per share. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1 per share.