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Wires

  • *GE slides after saying it would take $6.2 bln Q4 charge. Citigroup Inc jumped 2.7 percent after the lender reported profit that topped Wall Street expectations as strength in consumer businesses made up for lower revenue from bond and currency trading. Hopes of strong quarterly earnings, supported by steep cut in corporate taxes, and solid global economic...

  • QUINCY, Mass.— In a story Jan. 13 about a new Dunkin' Donuts store opening near Boston, The Associated Press reported erroneously that it would be the company's first location in the U.S. to be billed simply as Dunkin'. A new Dunkin' Donuts store opening in the Boston suburb of Quincy is dropping' Donuts' from its name. A new Dunkin' Donuts store opening in the Boston suburb of...

  • BRASILIA, Jan 16- Brazilian stocks on Tuesday edged up to an all-time high as optimism over the nation's economic prospects kept an early-year rally alive. Demand for Brazilian assets has been underpinned by expectations that stronger economic growth lifts corporate earnings in 2018. Brazil's gross domestic product is expected to grow almost 3 percent in...

  • PARIS— Train traffic between London and Paris has halted after a person was crushed to death by a Eurostar train in northern France in what officials say was an apparent suicide. Eurostar spokesman Rob Haycocks says train service was suspended after the death Tuesday. A spokesman for French national railway SNCF says the death occurred on the high-speed line...

  • LONDON, Jan 16- Stocks of industrial metals in London Metal Exchange warehouses fell more than 40 percent last year and further declines are expected in 2018, which should in theory signal tighter supplies and fuel a blistering price rally. Stocks of metal in warehouses monitored by the Shanghai Futures Exchange more than doubled last year with aluminum...

  • LONDON, Jan 16- Stocks of industrial metals in London Metal Exchange warehouses fell more than 40 percent last year and further declines are expected in 2018, which should in theory signal tighter supplies and fuel a blistering price rally. Stocks of metal in warehouses monitored by the Shanghai Futures Exchange more than doubled last year with aluminium...

  • BERLIN, Jan 16- Some 10,000 workers at German carmaker Daimler AG walked off their shifts for an hour on Tuesday as they sought to persuade employers to give engineering workers around Germany more pay and a shorter working week. With Europe's largest economy steaming ahead and unemployment at a record low, IG Metall- Germany's biggest trade union- is calling for...

  • *OPEC/ Russia- led supply restraint has propped up crude. LONDON, Jan 16- Brent crude oil shed some of its recent gains on Tuesday, falling nearly $1 a barrel but healthy demand underpinned prices near $70, a level not seen since 2014' s market slump. Prices have been driven up by oil production curbs in OPEC nations and Russia, as well as strong demand thanks to healthy...

  • TIGUENTOURINE, Algeria, Jan 16- Algeria's state energy company Sonatrach said it has signed a deal with oil trader Vitol to send crude abroad for refining as the country seeks to reduce a record fuel import bill. CEO Abdelmoumen Ould Kaddour said Sonatrach would pay processing costs before bringing refined fuel back to Algeria, and said it was also negotiating...

  • BRUSSELS/ MADRID, Jan 16- More central banks in Europe revealed plans on Tuesday to hold yuan as part of their foreign currency reserves, highlighting the Chinese currency's rise into an elite league of the world's major reserve currencies. The Bank of Spain said it was considering an investment in the yuan, the National Bank of Belgium said has already bought...

  • LONDON, Jan 16- The euro fell from a three-year high on Tuesday as investors sold the currency on doubts that the European Central Bank would ditch its pledge to keep buying bonds at next week's meeting. By 1330 GMT, the euro was trading down 0.3 percent on the day at $1.2223. The euro had climbed 2.7 percent between Thursday and Monday, making gains not seen since...

  • NEW YORK— General Motors expects strong sales in North America and China to sustain its profit through 2018.. The automaker on Tuesday reaffirmed its 2017 expectations for profit between $6 and $6.50 per share and said it expects similar results in 2018. In 2017, GM sold its Opel/ Vauxhall and GM Financial European units and cut business in parts of Africa and...

  • *De Beers pilot blockchain project began this month. *Blockchain provides "immutable" public ledger- CEO. LONDON, Jan 16- Anglo American's diamond unit De Beers aims to launch the first industry-wide blockchain this year to track gems each time they change hands starting from the moment they are dug from the ground, its chief executive said on Tuesday.

  • NICOSIA, Cyprus— A Cypriot company says its new sub-sea internet cable that will connect Israel with Spain will be powerful enough to handle up to 60 percent of the world's internet traffic at peak time. He said that's enough capacity to handle as many as 80 million high-definition video calls between Asia and Europe simultaneously. The 4785- mile cable will...

  • Jan 16- Eiger BioPharmaceuticals Inc said on Tuesday it would stop development of its drug to treat pulmonary arterial hypertension, a type of high blood pressure, after it failed in a mid-stage study. The drug developer's shares slumped about 39 percent to $9.7 in premarket trading. The drug, ubenimex, failed the main goal of improving pulmonary vascular...

  • **Drug developer's shares fall 44.4 pct at $8.90 premarket. **Top pct loser among all U.S.-listed stocks premarket. **Says it would stop developing its drug to treat pulmonary arterial hypertension, a type of high blood pressure, after it failed a mid-stage study.

  • Jan 16- NXP Semiconductors NV shareholder Ramius Advisors LLC said on Tuesday it would reject chipmaker Qualcomm Inc's $38 billion bid for the company, joining activist investor Elliott Management Corp.. Ramius, which is an affiliate of Cowen Inc, said it had informed NXP that Qualcomm's offer "dramatically" undervalued the company. The New York- based...

  • *GE Capital to make statutory reserve contributions of $15 bln. The company also said its GE Capital unit was now expected to make statutory reserve contributions- which insurers must hold against potential losses- of about $15 billion over seven years. To fund the contributions, GE Capital will be suspending its dividend to the parent company for the "...

  • GENEVA— World Economic Forum organizers say U.S. President Donald Trump will deliver a closing address at the Davos conference next week, which will focus on "finding ways to reaffirm international cooperation on crucial shared interests." Ten heads of state or government from Africa, nine from the Middle East and North Africa, and six from Latin America will...

  • Jan 16- Citigroup Inc on Tuesday reported quarterly profit that topped Wall Street expectations as consumer businesses made up for lower revenue from bond and currency trading. The lender said it booked a one-time charge of $22 billion stemming from changes in a new U.S. tax law, which resulted in a loss of $18.3 billion in the fourth quarter ended Dec. 31.