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  • *Q4 operating profit $41 mln vs $234 mln forecast. SEOUL, Jan 23- South Korea's LG Display Co Ltd, the world's biggest maker of LCD panels for TVs, said fourth-quarter operating profit fell 95 percent on-year to its lowest level in nearly two years. The Apple supplier's operating profit for October-December came in at 44 billion won, much lower than an average 250...

  • BOSTON, Jan 22- William Ackman is cutting almost a fifth of staff and looking to lower his public profile as he seeks to turn around Pershing Square Capital Management after three straight years of losses, people familiar with the move told Reuters on Monday. The first step in turning around Pershing Square is laying off 10 people, shrinking the firm to 46...

  • NEW YORK, Jan 22- More than 10 percent of funds raised through "initial coin offerings" are lost or stolen in hacker attacks, according to new research by Ernst& Young that delves into the risks of investing in cryptocurrency projects online. The professional services firm analyzed more than 372 ICOs, in which new digital currencies are distributed to buyers, and...

  • ACKMAN TO CONCENTRATE ON INVESTING INSTEAD OF MEETING CLIENTS -SOURCES.

  • EXCLUSIVE-HEDGE FUND MANAGER ACKMAN LAYS OFF 18 PCT OF PERSHING SQUARE STAFF- SOURCES.

  • EXCLUSIVE-LAYOFFS SUBSTANTIALLY AFFECT BACK-OFFICE WORKERS -SOURCES.

  • NEW YORK, Jan 22- Philadelphia Energy Solutions, owner of the largest U.S. East Coast refinery, said on Monday its plan to get out of bankruptcy hinges on whether it can shed existing biofuel costs under the country's renewable fuel laws. The plan revives a debate between U.S. refiners and ethanol producers over the nation's renewables policy, and could spur...

  • SEOUL, Jan 23- South Korea's LG Display Co Ltd said on Tuesday its annual operating profit for 2017 reached 2.5 trillion won, up 88 percent from the previous year. The increase was due to rising prices for large liquid crystal display panels during the first half of the year as well as a more diversified product lineup, LG Display said in a regulatory filing.

  • NEW YORK, Jan 22- Puerto Rico said on Monday it would sell off its troubled power utility to the private sector, saying in a statement that the process to unload the indebted company could take roughly 18 months to complete.

  • DAYTONA BEACH, Fla. _ Brown& Brown Inc. on Monday reported fourth-quarter profit of $187.5 million. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share. Five analysts surveyed by Zacks expected $447.2 million.

  • Jan 22- Bacardi Ltd said on Monday it would buy high-end tequila maker Patron Spirits International AG in a $5.1 billion deal, hoping to become the second largest spirits company in the United States by market value. The acquisition marks the first major deal under Mahesh Madhavan, who was appointed Bacardi's chief executive in October by the family that...

  • SAO PAULO, Jan 22- Brazil's patent office has concluded that Monsanto Co's Intacta RR2 Pro patent should be declared void, according to court filings seen by Reuters regarding a lawsuit against the company by soy growers association Aprosoja. In the Jan. 17 document, the solicitor general's office said patent office INPI issued the technical opinion after...

  • Legislation to renew government funding easily won enough support in a vote in the Senate and was expected to pass the House of Representatives, allowing government to reopen through Feb 8. Most Democratic lawmakers had initially opposed the funding bill, demanding that the Senate also approve protections for young undocumented immigrants known as "...

  • SALT LAKE CITY _ Zions Bancorp on Monday reported fourth-quarter earnings of $123 million. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share. Eight analysts surveyed by Zacks expected $670.5 million.

  • WASHINGTON, Jan 22- The U.S. Senate on Monday approved by an 81- to-18 vote a measure to fund the federal government through Feb. 8, sending the bill to the House of Representatives. The House is expected to quickly vote on and pass the measure, which also includes a six-year extension of the Children's Health Insurance Program. It would then be sent to President...

  • BRASÍLIA, Jan 22- Brazil's J&F Investimentos, controlling shareholder of the world's largest meatpacker JBS SA, is renegotiating its leniency agreement and considering agreeing to a confession of insider trading by jailed owners Joesley and Wesley Batista, a source from the prosecutor's office said. J&F executives also signed plea deals implicating...

  • WASHINGTON, Jan 22- President Donald Trump has approved recommendations to impose safeguard tariffs on imported large residential washing machines and imported solar cells and modules, U.S. Trade Representative Robert Lighthizer said on Monday. The decision followed findings by the U.S. International Trade Commission that both imported products "are a...

  • WASHINGTON, Jan 22- A trade group representing U.S. auto parts makers on Monday urged the Trump administration to adopt NAFTA automotive rules that cover research, engineering, design and software development work as part of regional value content goals. The alternative proposal from the Motor and Equipment Manufacturers Association was sent to U.S.

  • WASHINGTON, Jan 22- Chinese telecommunications equipment companies Huawei and ZTE, which face strong political headwinds in the United States, sharply cut lobbying expenditures last year, according to fourth-quarter spending disclosures. Huawei Technology Cos Ltd spent $50,000 in 2017, down from $348,500 in 2016 and the $1.2 million it spent in 2012, the...

  • SAN JUAN, Puerto Rico— Puerto Rico's governor announced Monday that he is privatizing the island's government-owned power company following decades of mismanagement, corruption and blackouts. The Puerto Rico Electric Power Authority, or PREPA, was founded in 1979 as a public utility run by appointees of the island's governor. Rossello noted Puerto Rico's...