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Wires

  • NEW YORK, May 25- BlackRock Inc will initially pay about $60 per square foot in rent for its future headquarters in the Hudson Yards district on the far west side of midtown Manhattan, the company said in a filing on Thursday. The company said in the filing with the U.S. Securities and Exchange Commission that it will pay $50.8 million per year in the first five years,...

  • May 25- Specialty metals producer Arconic Inc said its shareholders had elected three of Elliott Management Corp's nominees to its board of directors, based on a preliminary vote count following the company's annual meeting on Thursday. Elliott, a New York hedge fund run by billionaire Paul Singer, struck a deal with Arconic on Monday, ending a prolonged battle...

  • TORONTO, May 25- Freeport McMoRan Inc said on Thursday that mining and milling rates at its Grasberg copper mine in Papua, Indonesia have been affected as some 9,000 workers stage an extended strike, and a "large number" of approximately 4,000 absentee workers were deemed to have resigned. Escalating tensions with workers is a further disruption for Freeport,...

  • DETROIT— Shares of General Motors are down more than 2 percent Thursday after a lawsuit alleged that its diesel pickup trucks cheat on emissions tests. The lawsuit filed in Detroit federal court says the pickups with Duramax diesel engines have three devices on them that are rigged to allow more pollution on the road than during government lab tests.

  • TULSA, Okla.— A former manager of a Tulsa explosive-demolition company has been sentenced to federal prison after admitting to embezzling more than $600,000 from the company. The Tulsa World reports 50- year-old Monica Lynn Miller was ordered Wednesday to serve nearly three years in prison. She pleaded guilty last year to embezzling from Dykon Explosive...

  • ATHENS, May 25- Greece's former prime minister Lucas Papademos was injured when an explosive device hidden in an envelope detonated inside his car in central Athens on Wednesday, police said. Papademos, also a former central bank chief, was appointed caretaker prime minister in November 2011 to help his country stay in the euro zone. Papademos has also served as...

  • The proposed class-action lawsuit was filed in the federal court in Detroit on behalf of people who own or lease more than 705,000 Silverado and Sierra trucks fitted with "Duramax" engines from the 2011 to 2016 model years. A spokesman for the Detroit- based automaker did not immediately respond to a request for comment. The case is Fenner et al v General Motors LLC...

  • May 25- Rayonier Advanced Materials said it would buy Canada's Tembec Inc for $807 million including debt to expand its business into packaging and forest products, sending Tembec's shares to a five-year high on Thursday. The deal comes at a time when Canada is resisting a move by the United States to impose tariffs on Canadian lumber imports.

  • LONDON, May 25- Intesa Sanpaolo has launched the process to syndicate a loan it provided to Glencore and a Qatari sovereign wealth fund for their purchase of a 19.5 percent stake in Russia's Rosneft, banking sources said on Thursday. Intesa provided a 5.2 billion euro loan to Glencore and the Qatar Investment Authority late last year, and the Italian bank is now...

  • WILMINGTON, Del, May 25- Bankrupt Westinghouse Electric Co LLC, the U.S. nuclear technology firm owned by Toshiba Corp, has stopped making pension payments to former executives, according to a letter seen by Reuters, removing a benefit that has helped the company retain top talent. Westinghouse spokeswoman Sarah Cassella said in a statement that in Chapter 11...

  • ABUJA, May 25- Nigeria's Senate passed a long-awaited oil governance bill on Thursday which the president of parliament's upper chamber said would improve transparency in the OPEC member's energy industry and stimulate growth in the sector. The Petroleum Industry Governance Bill is one part of proposed reforms that make up the sprawling Petroleum...

  • *OPEC agrees to extend output cuts for nine months. *Non-OPEC producers join OPEC in extending supply agreement. As expected, the Organization of the Petroleum Exporting Countries, along with other non- OPEC members, agreed to extend a cut in oil supplies of 1.8 million barrels per day until the end of the first quarter of 2018 to reduce a glut of supply.

  • TORONTO, May 25- Three of Canada's biggest banks on Thursday played down concerns that Home Capital Group's problems could impact the broader financial system and reported quarterly results that topped market expectations. The comments from executives came as investors, worried about a possible slowdown in Canada's red-hot housing market, are...

  • The price of oil is down further after OPEC and other nations said they had agreed to extend their production cuts for another nine months. OPEC and other oil-producing nations have extended their output cuts for an additional nine months in an effort to shore up prices. The decision, announced Thursday by a high-level meeting of OPEC and non- OPEC ministers,...

  • U.S., BRENT CRUDE FUTURES EXTEND LOSSES, DOWN BY $2 A BARREL AFTER OPEC EXTENSION OF OIL OUTPUT CUTS.

  • PORTLAND, Maine— A judge has ordered Maine broadcasters to produce unaired tapes of prosecutor interviews in a murder case. The Portland Press Herald reports the Maine Public Broadcasting Network and WGME-TV have seven days to comply with Monday's order to hand over outtakes from interviews with Pamela Ames. Ames is a former assistant attorney general who...

  • VIENNA, May 25- OPEC and non-members led by Russia decided on Thursday to extend cuts in oil output by nine months to March 2018 as they battle a global glut of crude after seeing prices halve and revenues drop sharply in the past three years. Oil's earlier price decline, which started in 2014, forced Russia and Saudi Arabia to tighten their belts and led to unrest in...

  • SAO PAULO, May 25- Most Latin American currencies traded sideways on Thursday after the Federal Reserve dialed down some expectations that it would hike interest rates rapidly, while political uncertainty weighed on Brazilian markets. Also fostering caution in Brazilian markets was growing political turmoil resulting from a scandal in which President...

  • The Associated Press-NORC Center for Public Affairs Research poll on long-term care was conducted March 2-29 by NORC at the University of Chicago, with funding from the SCAN Foundation. It is based on online and telephone interviews of 1,341 adults age 40 and over who are members of NORC's nationally representative AmeriSpeak panel. Interviews included...

  • *Europe stocks near highs; miners, energy weigh. NEW YORK, May 25- World stock markets scaled fresh highs on Thursday, with key U.S. indexes lifted by rosy retailer results, while the U.S. dollar dipped and oil prices fell after top oil producers extended output cuts for a shorter period than expected. Oil prices fell as OPEC prepared to extend supply curbs by nine...