S economy andthat downside risks remain substantial

(Updates with reaction to Fed minutes) Currencies NEW YORK, Jan 6 (Reuters) - The U.S. dollar pared gainsagainst the euro on Tuesday after minutes from the FederalReserve's most recent policy meeting suggested the central bankis concerned about the weak outlook for the U.S economy andthat downside risks remain substantial. The dollar was lastup 0.3 percent at 93.67 yen JPY, compared with 93.85 beforethe release of the minutes. (Reporting by Nick Olivari, Editing by Chizu Nomiyama) Currencies.

NEW YORK, Jan 6 (Reuters) - Standard & Poor's on Tuesdaycut its ratings on Jones Apparel Group Inc's (JNY.N) bondsdeeper into junk territory, citing the debt's subordination bya new, secured credit facility. Stocks Bonds Jones Apparel last month reduced its $1.25 billion,unsecured lines of credit to a single, secured line of $600million For details see ID:nN26257923. "We previously assumed that the unsecured bonds would shareequally in emergence enterprise value with the creditfacility," S&P said in a statement. "The security interests under the proposed amendedrevolving facility are dilutive to the recovery prospects forthe unsecured bonds," the rating agency added.

S&P cut Jones Apparel's unsecured bonds one notch to"B-plus," four levels below investment grade, from "BB-minus." (Reporting by Karen Brettell; Editing by James Dalgleish) Stocks Bonds. (Recasts, adds Tyson comment) Stocks Regulatory News CHICAGO, Jan 6 (Reuters) - Meat company Tyson Foods Inc(TSN.N) pleaded guilty, agreed to pay a $500,000 fine, and willserve a one-year probation for a violation of the OccupationalSafety and Health Act (OSHA) which led to a worker's death, theU.S Justice Department said on Tuesday. The worker, Jason Kelley, died after being overcome byhydrogen sulfide gas on Oct. In addition, another employee and two emergency personnelwere hospitalized due to exposure during the rescue attempt. The $500,000 fine is the maximum criminal fine for such aviolation. "This was a tragic accident and we remain saddened by theloss of Jason Kelley," Tyson said in a statement.

WELLINGTON, Jan 7 (Reuters) - Following are some of thelead stories from New Zealand metropolitan newspapers onWednesday. Stories may be taken from either the paper or Interneteditions of the papers. DOMINION POST() Insurance premiums likely to increase: Insurance premiumscould rise up to 10 percent this year, as insurers try tomaintain earnings. - - - - Warehouse result pleases market: The Warehouse (WHS.NZ)says it is continuing to increase its market share, as itissued Christmas sales figures that were 2.5 percent lower thanthe year before. - - - - Drought latest threat to economy: The risk of a droughtcompounding the nation's economic woes is growing as the summerheats up, farmers say.