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  • WASHINGTON— Fed Chair Janet Yellen testifies to House committee on monetary policy, 10 a.m. Eastern; Embargo on prepared testimony lifts at 8:30 a.m.. WASHINGTON— Treasury releases federal budget for January, 2 p.m.. Tesla Motors Inc. reports earnings after the market close.

  • Big U.S. companies have lost billions buying their own stock. Nearly half the companies in a study of the Standard and Poor's 500 index spent more on these buybacks than the shares are now worth. Combined paper losses from purchases in the past three years for these losers: $126 billion, or 15 percent of what they paid, according to an Associated Press study based on...

  • WASHINGTON— A strong holiday shipping season and a couple of favorable economic situations temporarily turned around the financial fortunes of the Postal Service, officials said Tuesday. The post office reported a $307 million profit between October and December of 2015, as compared to a $754 million loss the previous year. Legislation in 2006 required the...

  • Feb 9- The U.S. Energy Information Administration on Tuesday said domestic natural gas production in 2016 was expected to reach 79.69 billion cubic feet per day, up a shade from the 79.68 bcfd it forecast last month. The EIA projects LNG gross exports will increase to an average of 0.5 bcfd in 2016, with the start-up of Cheniere Energy Inc's Sabine Pass LNG...

  • CHARLESTON, W.Va.— Alpha Natural Resources says it has received a $500 million offer from existing lenders for the potential sale of the bankrupt coal producer's core assets. The offer includes all Alpha coal assets in Pennsylvania and Wyoming and some assets in Virginia and West Virginia. Also included are natural gas holdings in Pennsylvania's Marcellus...

  • *Bank's market value has almost halved since a year ago. FRANKFURT, Feb 9- Deutsche Bank bosses face a formidable task to drag its shares off a 30- year low, with reassurances about its capital levels doing little to improve investor confidence and few other options on the table to trigger a recovery. Germany's flagship lender has trailed its rivals in bouncing...

  • NEW YORK— If you think your stocks are doing poorly, check out the performance of some of the most sophisticated investors, the ones with more knowledge about what's going on inside businesses than anyone else: Companies that buy their own shares. The companies losing money on these bets are down a collective $126 billion over the past three years, a decline of 15...

  • *Brent down 5 pct, weighs on energy stocks. Feb 9- Wall Street was lower on Tuesday, after bouncing between gains and losses in a choppy session, as the beaten-down energy and financials stocks fell further and a rebound in technology faded. "We're starting to feel some of the knock on effects from energy and distress in those markets," said Steven Baffico, chief...

  • NEW YORK, Feb 9- Oil prices fell nearly 6 percent on Tuesday as equity markets remained weak and forecasts of swelling record high U.S. crude stockpiles faced expectations that global demand will not grow quickly enough to erase the overhang of crude any time soon. U.S. gasoline futures fell to a 2008 low ahead of the American Petroleum Institute's weekly report...

  • Feb 9- Goldman Sachs Group Inc and other U.S. banks are looking at ways to slash expenses further this year as market turmoil, declining oil prices and concerns about Germany's Deutsche Bank AG have sent the sector's shares down sharply. "We can absolutely do a lot more on the cost side if we have to, especially now, when you have to deliver a return," Goldman Chief...

  • WASHINGTON, Feb 9- U.S. corn and wheat ending stocks will be higher than previously expected at the end of the marketing year due to a drop in already weak demand for U.S. supplies on the export market, the government said on Tuesday. The U.S. Agriculture Department in its monthly supply and demand report also raised its soybean ending stocks outlook due to a slowdown...

  • LONDON, Feb 9- Portuguese 10- year yields hit their highest since October 2014 on Tuesday as investors concerned about global growth and the health of the financial sector moved their money out of lower-rated markets. Growth concerns sparked by a slowdown in China have raised questions about banks, pushing the stress indicators in interbank markets in Europe...

  • LONDON, Feb 9- Britain's Barclays Plc has named JPmorgan Chase& Co executive Paul Compton its new Chief Operating Officer, following the departure of Jonathan Moulds. Compton's appointment comes at a time when Barclays has been reviewing global operations, and closely follows the appointment of another JPMorgan veteran, Jes Staley, as chief executive in...

  • MOSCOW, Feb 9- Russia has received a proposal from Ukraine on restructuring its $3 billion debt but is not yet ready to begin talks on the issue, TASS news agency cited the Russian Finance Ministry as saying on Tuesday. Ukraine's proposal did not acknowledge that the debt it owed to Russia was of a different nature than that owed to private creditors, TASS quoted the...

  • BERLIN, Feb 9- In 2010, France's then Finance Minister Christine Lagarde urged Germany to boost economic demand at home and help weaker euro zone states recover from the global crisis. Those who say Germany is gradually rebalancing its economy, after decades of relying mainly on its exporters for growth, point to forecasts that domestic demand will account for...

  • *Lonmin focused on turning cash positive. CAPE TOWN, Feb 9- Platinum producer Lonmin will not "shy away" from any merger or takeover but for now the company is focused on its plan to survive tough market conditions, its chief executive said on Tuesday. Should it be of benefit to our shareholders and stakeholders it's not something we would shy away from, "CEO Ben Magara...

  • WASHINGTON, Feb 9- Attacks by "homegrown" terrorists are among the most imminent security threats facing the United States in 2016, along with dangers posed overseas by Islamic State and cyber security concerns, the top U.S. intelligence official said on Tuesday. In his annual assessment of threats to the United States, Director of National Intelligence James...

  • LONDON, Feb 9- The Swedish crown has weakened against the euro ahead of a Riksbank meeting on Thursday but there are doubts in the foreign exchange market that any cut in interest rates would have a lasting negative impact on the currency. Instead, Sweden's may be the latest central bank to discover that there are limits to how far deeply negative interest rates...

  • NEW YORK, Feb 9- The copyright to the world's most popular song, "Happy Birthday to You," has been in dispute for decades, but if an agreement by Warner/ Chappel Music to pay $14 million to end a lawsuit over the song is approved by a U.S. court, it will be free for all to use as they please. A group of artists and filmmakers filed a class action lawsuit in 2013 against...

  • WASHINGTON, Feb 9- The Pentagon proposed a $582.7 billion defense budget on Tuesday that emphasizes threats like Russia, China and Islamic State rebels, but the plan is already under fire from Republicans who accuse President Barack Obama of short-changing the military. Officials and analysts say the budget marks a strategic inflection point as the...