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UPDATE 2-S&P cuts BHP credit rating, dividend cut seen as inevitable

SYDNEY/ MELBOURNE, Feb 2- Standard& Poor's cut BHP Billiton Ltd's credit rating and warned it might be lowered further if measures to shore up cash levels were not taken, cementing expectations the world's largest miner will slash its dividend for the first time in 15 years. Analysts and investors in Australia said BHP did not have to resort to a sale of new shares to...
Source: Reuters | By: Cecile Lefort and Sonali Paul
Bank of England to tread fine line on distant rate bets

LONDON, Feb 1- The Bank of England probably disagrees with investors who think it will keep interest rates at a record low for almost another two years, but it's unlikely to say so very loudly on Thursday. As it publishes new economic forecasts with concern growing about a new global slowdown and an unsettling referendum on Britain's place in the European Union...
Source: Reuters | By: William Schomberg
Proposed ethanol plant gets $4.2 million state tax break

DES MOINES, Iowa— A Minnesota businessman whose construction company has built many of the nation's ethanol plants received state sales tax incentives Friday to complete construction on a previously idled project in southwest Iowa. Iowa leads the way with nearly 3.8 billion, followed by Nebraska's 1.8 billion gallons and Illinois' 1.5 billion gallons.
Source: The Associated Press
Electrolux reports Q4 loss after failed bid for GE

STOCKHOLM— Swedish home appliance maker Electrolux says it fell to a 393 million kronor loss in the fourth quarter from a 970 million kronor profit a year earlier after it failed in its bid for General Electric Co.' s appliance business. Earlier this month, CEO Keith McLaughlin said he would retire Feb. 1, and would be replaced by Jonas Samuelson, current head of an...
Source: The Associated Press
UPDATE 1-Australia iron ore miner Fortescue steps up cost-cuts to stay in black

*Fortescue now sees cash breakeven well below $36 a tonne. MELBOURNE, Jan 28- Australia's Fortescue Metals Group said on Thursday that it could weather far lower iron ore prices than previously touted, as the world's No.4 exporter of the steelmaking ingredient cuts costs faster than planned. That compares with prices near $41 a tonne on Thursday and would make...
Source: Reuters | By: Sonali Paul
GLOBAL MARKETS-Oil tumbles 3 percent but stocks hold ground

*Oil prices give up gains, fall 3 percent. LONDON, Jan 25- Oil prices tumbled 3 percent on Monday and dragged the dollar down, but world stocks clung onto gains in a sign of stabilisation after a horrendous start to the year. Crude oil prices fell 3 percent as Iraq announced record-high oil production feeding into a heavily over supplied market, wiping out much of the...
Source: Reuters | By: Dhara Ranasinghe
UPDATE 1-Browning-Ferris appeals U.S. ruling on 'joint employment'

Browning-Ferris Industries, a subsidiary of Republic Services Inc, this week sought review of the National Labor Relations Board's decision on joint employment by a federal appeals court in Washington. The company "strongly believes that it has rights that require vindication," Browning-Ferris' attorney Stuart Newman of Seyfarth Shaw said of the petition,...
Source: Reuters | By: Robert Iafolla
GLOBAL MARKETS-Stocks, commodity currencies slide as oil falls back below $30

*European stocks fall 1.2 percent, Asia shares hit 3-1/ 2- year low. LONDON, Jan 15- World stocks were set for a third straight week of losses on Friday and commodity currencies took another drubbing as oil prices fell back below $30, keeping alive concerns about global growth. The collapse in oil prices has spooked financial markets as investors worry about the...
Source: Reuters | By: Dhara Ranasinghe
Dow closes up more than 200 as energy bounces

U.S. stocks closed higher Thursday, stabilizing after a steep sell-off, helped by some recovery in oil prices and comments from Fed policymakers
Source: | By: Evelyn Cheng
UPDATE 1-Shaw posts unexpected profit drop as it loses TV subscribers

Jan 14- Canada's Shaw Communications Inc posted an unexpected 4 percent drop in first-quarter profit, as it continued to lose television subscribers, offsetting a rise in internet accounts. Shaw, which competes with Telus Corp in west Canada, said its consumer unit lost 30,000 television and 5,600 landline telephone accounts in the quarter ended Nov. 30.
Source: Reuters