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TOP STORIES
Wall St falls as financials slide; oil prices recover
U.S. stock indexes are lower, dragged down by financial stocks, as plunging oil prices, low interest rates and turbulent global markets take a toll on banks. (USA-STOCKS/ (UPDATE 4), updated throughout the day, 390 words)
+ See also:
- GLOBAL-MARKETS/ (WRAPUP 7), updated throughout the day,390 words
U.S. new home sales tumbled; services sector weakened
WASHINGTON - Sales of new U.S. single-family homes tumbled in January from a 10-month high as sales in the West region plunged, but the overall housing market recovery remained intact. (USA-ECONOMY/ (WRAPUP 2), moved, by Lucia Mutikani, 680 words)
Argentina, major creditors near $5 billion debt deal -lawyer
NEW YORK - Creditors suing Argentina over defaulted bonds have agreed to the economic terms of an agreement to end the long-running litigation but need more time to complete the $5 billion deal, a lawyer for the investors says. (ARGENTINA-DEBT/ (UPDATE 3), moving shortly, by Nate Raymond, 420 words)
U.S. Labor Dept, SEC clashed over retirement advice rule -report
Staffers at the Securities and Exchange Commission and the Labor Department clash over a plan to curb potential conflicts of interest among brokers who give retirement advice, Senate Republicans say in a report. (USA-BROKERS/FIDUCIARY (UPDATE 1), by Suzanne Barlyn and Sarah N. Lynch, 550 words)
OIL
Oil up 3 pct as U.S. gasoline demand trumps stockpile build
NEW YORK - Oil prices rise 3 percent as strong U.S. gasoline demand offset worries over record high crude stockpiles, while some traders bet the market will turn lower on OPEC's stubbornness in not cutting output. (GLOBAL-OIL/ (UPDATE 10), updated throughout the day, 440 words)
+ See also:
- USA-OIL/EIA (UPDATE 1), moved, 390 words)
ECONOMY
Sterling falls to 7-year low over Brexit risks
LONDON - Sterling sinks to a seven-year low as companies and investors rush to insure themselves against the chances of a British exit from the European Union that HSBC says could knock a fifth off of the value of pound. (BRITAIN-STERLING/ (UPDATE 4), moved, by Anirban Nag and Patrick Graham, 580 words)
+ See also:
- BRITAIN-EU/PHARMACEUTICALS, moved, by Ben Hirschler, 310 words
COMPANIES
Salesforce.com (N:CRM) faces scrutiny as Wall St frets over cloud software
SAN FRANCISCO - Salesforce.com's quarterly report will be under the microscope after the bell on Wednesday as Wall Street searches for new signs of trouble in spending on cloud software. (SALESFORCE-RESULTS/PREVIEW (UPDATE 1), moved, by Noel Randewich, 300 words)
Lowe's higher sales overshadowed by Home Depot hangover
Home improvement chain Lowe's Cos Inc reports an increase in quarterly comparable sales that pale in comparison with those of rival Home Depot Inc (N:HD), despite beating Wall Street expectations. (LOWE'S-RESULTS/ (UPDATE 5), moved, by Yashaswini Swamynathan, 400 words)
Target comp sales beat shows turnaround efforts gaining traction
Target Corp's quarterly sales at established stores topped analysts' estimates as its initiatives around higher-profit items drove traffic, showing that the company's turnaround efforts under Chief Executive Brian Cornell are gaining traction. (TARGET-RESULTS/ (UPDATE 2), moved, by Sruthi Ramakrishnan, 400 words)
Off-price retailer TJX's sales beat on strong holiday demand
TJX Cos Inc, the owner of T.J. Maxx and Marshalls off-price retail chains, reports higher-than-expected quarterly sales as it attracted more bargain-hungry shoppers in the holiday season. (TJX COMPANIES-RESULTS/ (UPDATE 2), moved, 270 words)
UK lawmakers dismiss Google (O:GOOGL) tax deal as too small
LONDON - A panel of British lawmakers criticize a back-tax deal between Google and UK tax authorities, calling it "disproportionately small" and branding the company's explanation of its tax planning as disingenuous. (GOOGLE-BRITAIN/TAXATION (UPDATE 3), moved, by Tom Bergin, 630 words)
+ See also:
- GOOGLE-FRANCE/TAXATION, moved, 190 words
RBC profit misses market estimates; energy impact in focus
TORONTO - Royal Bank of Canada reports a lower-than-expected quarterly profit, hurt by weakness in its insurance and capital markets businesses, but it raises its quarterly dividend. (RBC-RESULTS/ (UPDATE 2), moved, by John Tilak, 410 words)
ALSO IN THE NEWS
UBS, others reach $100 million muni bond rigging settlements
NEW YORK - UBS AG, Natixis SA and four other banks and brokerages agree to pay just $103 million to settle claims that they conspired to rig prices for U.S. municipal securities. (BANKS-BIDRIGGING/SETTLEMENTS (UPDATE 1), moved, by Jonathan Stempel, 410 words)