TOP STORIES
ECONOMIC GROWTH, CORPORATE PROFITS SLOWED AS 2014 ENDED
Profits at U.S. corporations in late 2014 posted their largest
drop in four years, a reflection of an economy weighed down by a
strong dollar and weak global demand.
DOW CHEMICAL TO SPLIT OFF CHLORINE BUSINESS
Dow Chemical said it will split off a significant portion of its
chlorine business and merge it with Olin in a deal valued at $5
billion. Shares of Dow rose 4%; Olin up 20%.
U.S. STOCKS SET FOR WEEKLY LOSSES
U.S. stocks wavered between slight gains and losses, struggling
to find direction following four consecutive sessions of losses.
The Dow Jones Industrial Average was up about 40 points in recent
trading.
GERMANWINGS CO-PILOT HAD HOSPITAL CHECK-UP
German co-pilot Andreas Lubitz, who appeared to have
deliberately crashed Germanwings Flight 9525, had been for medical
check-ups at the University Hospital in Duesseldorf, but had not
been treated for depression at the clinic.
CITADEL SECURITIES TO SHUT DOWN APOGEE DARK POOL IN U.S.
Citadel Securities is said to be planning to shut down its
Apogee "dark pool" in the U.S., as the U.S. market maker focuses on
its faster-growing off-exchange trading platform aimed at
institutional investors.
BLACKBERRY SWINGS TO A PROFIT
BlackBerry posted a surprise 4Q profit but revenue fell short of
views, a sign cost-cutting is paying off but that it has yet to see
full benefit of sales of new security software and smartphones.
Revenue was $660 million; analysts expected $786 million. Shares up
3%.
DAIMLER'S MERCEDES-BENZ DEVELOPING A PICKUP
Mercedes-Benz Vans, the light truck division of automotive group
Daimler, is in talks with Nissan Motor about joint development and
production of a planned midsize pickup truck that Mercedes wants to
launch by the end of the decade.
TWO EX-CREDIT SUISSE BANKERS AVOID JAIL TIME IN TAX-EVASION CASE
Two former Credit Suisse bankers who pleaded guilty to helping
wealthy American evade taxes received no jail time after
cooperating in the U.S. case against the Swiss bank but will have
to pay a small fine.
REPUBLICAN-CONTROLLED SENATE CLEARS BUDGET PLAN
The Senate passed a Republican budget for fiscal year 2016 early
this morning after a grueling, round-the-clock marathon of
amendment votes.
ISRAEL TO RELEASE PALESTINIAN AUTHORITY TAX MONEY
Israel said it will release hundreds of millions of dollars in
Palestinian tax funds that it had frozen at the beginning of the
year in protest over the Palestinian leadership's decision to join
the International Criminal Court.
PETROBRAS NOMINATES VALE CEO AS CHAIRMAN
Brazilian state-run oil firm Petroleo Brasileiro said it has
nominated the chief executive of mining giant Vale, Murilo
Ferreira, as its next board chairman, as the company scrambles to
deal with fallout from a vast corruption scandal.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Politics
HARRY REID WON'T RUN FOR RE-ELECTION
Senate Minority Leader Harry Reid won't run for re-election in
2016, ending a storied career in the Senate after three decades and
opening up the competition to replace him as the chamber's top
Democrat.
The Wall Street Journal
CHINA'S BIG BANKS DOUBLE THEIR WRITE-OFFS
China's major banks last year wrote or spun off more than twice
what they did in 2013 to keep the fallout from a slowdown in
China's economy from lingering on their balance sheets.