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UPDATE 3-Telus says Alberta weakness, competition hurt fourth-qtr profit

TORONTO, Feb 11- Telus Corp, one of Canada's three big telecom providers, reported a 16 percent drop in fourth-quarter profit on Thursday, hurt by increased wireless competition and sagging demand, partly due to economic weakness in the oil-producing province of Alberta. Shares in the Vancouver- based company were down 1.2 percent at C $39.37 in early afternoon...
Source: Reuters | By: Alastair Sharp
UPDATE 2-Rio Tinto ditches boom time payout policy as profit plunges

*2015 underlying earnings down 51 pct to $4.54 bln. MELBOURNE/ SYDNEY, Feb 11- Rio Tinto scrapped its generous payout policy in the face of a bleak outlook for the global economy after it slumped to a net loss for 2015 and posted its worst underlying earnings in 11 years. The macro outlook remains challenging, "Chief Executive Sam Walsh told reporters.
Source: Reuters | By: Sonali Paul and James Regan
Europe calls time on ship navigation scheme despite risks at sea

Experts say GPS is vulnerable to signal loss from solar weather effects or radio and satellite interference or deliberate jamming, which South Korea experienced from North Korea in recent years. France, Norway, Germany and Denmark have closed their transmitters. George Shaw of the GLA cited "cost-related" issues in Europe for pulling the project, leading the...
Source: Reuters | By: Jonathan Saul
PRECIOUS-Spot gold slips as dollar holds gains after U.S. jobs data

*Coming up: euro zone Sentix index at 0930 GMT. MELBOURNE, Feb 8- Spot gold stepped back on Monday from near a three-month top hit the session before, after a U.S. jobs report cast some doubt over prospects for a quicker pace of rate hikes this year and pushed up the dollar. "We prefer gold," said analyst Lachlan Shaw of UBS.
Source: Reuters | By: Melanie Burton
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
A monetary 'magician' of dirty tricks in ABC drama 'Madoff'

NEW YORK— Don't look to Richard Dreyfuss to defend Bernie Madoff. Then he cites another object of his scorn he did portray— former vice president Dick Cheney in the 2008 feature "W." People forget that inside everyone is a bit of Dick Cheney, and as an actor you find those little moments when you've been a little bit Cheney.
Source: The Associated Press | By: By FRAZIER MOORE, AP Television Writer
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