Pimco upgraded its assessment on U.S. economic growth, saying it now expects expansion to run between 2.5 percent and 3 percent in 2014.» Read More
*Trucker strike in Vancouver causing lumber backlog. TORONTO, March 12- Canadian National Railway Co, the country's biggest railroad operator, said on Wednesday it will meet the federal government's order to ship 500,000 tonnes of grain a week, but its chief executive said there would still be a severe backlog even under ideal conditions.
March 12- Jefferies LLC will pay $25 million to resolve U.S. criminal and civil investigations into its mortgage bond trading, after one of its former traders was convicted for defrauding clients, and authorities said they are investigating whether other individuals broke the law.
WASHINGTON, March 12- The United States will hold the first test sale of crude from its emergency oil stockpile since 1990, offering a modest 5 million barrels in what some observers saw as a subtle message to Russia from the Obama administration.
NEW YORK/ LONDON, March 12- New York coffee futures reversed course on Wednesday after setting a two-year high on weather-related concerns over output in top grower Brazil before edging lower as investors cut risk. The second-month ICE contract climbed to a two-year high of $2.0975 per lb before closing down 0.35 cent, or 0.2 percent, at $2.0530 per lb.
*China's first domestic bond default creates jitters. NEW YORK, March 12- Global stock indexes declined for a fourth day and copper dipped to near four-year lows before rebounding on Wednesday as increasing concern about China's economic slowdown unnerved investors.
*U.S. Senate panel holds confirmation hearing on Thursday. SAN FRANCISCO/ NEW YORK, March 12- Stanley Fischer, U.S. The former chief of the Bank of Israel was chosen to be Fed Chair Janet Yellen's second-in-command in part for his crisis-management credentials, especially during a seven-year stint as the No. 2 official at the International Monetary Fund.
SENATOR CLAIRE MCCASKILL SAYS CONSUMER PROTECTION SUBCOMMITTEE TO HOLD HEARING IN APRIL ON GM RECALL.
MCCASKILL SAYS EXAMINING RESPONSES OF GM AND NHTSA ON TIMING OF DISCOVERY OF FAULTY IGNITION SWITCHES POTENTIALLY AFFECTING MILLIONS OF VEHICLES.
March 12- Pfizer Inc said a U.S. federal court invalidated a reissue patent covering methods of treating osteoarthritis and other conditions with its Celebrex drug.
NEW YORK/ LONDON, March 12- Gold surged 1.3 percent on Wednesday, hitting a near six-month high as fears of more corporate defaults in China and the geopolitical tug-of-war between Russia, Ukraine and the West boosted bullion's appeal as an insurance against riskier assets.
NEW YORK, March 12- New York's Albany County on Wednesday issued a moratorium on the expansion of crude oil processing in the Port of Albany, pending a public health investigation by the county's health department. The moratorium would affect an oil-processing expansion project proposed by Global Partners LP, Albany County said in its statement.
NEW YORK, March 12- Puerto Rico's newly issued bonds rallied in their first full day of trading on Wednesday as investors snapped up the debt after strong demand for the premium offered by the cash-strapped U.S. territory left its $3.5 billion issue heavily oversubscribed.
*Copper's fall compounds concerns over China slowdown. NEW YORK, March 12- U.S. crude oil fell by more than 2 percent on Wednesday, its biggest drop in two months, after the United States announced unexpected plans for a "test" release of strategic oil reserves while weekly data showed a big rise in crude stockpiles.
BRUSSELS, March 12- European lawmakers put pressure on EU countries on Wednesday to shield citizens' privacy, warning that they could block a trade deal with the United States if governments did not take a tougher stance on snooping.
NEW YORK, March 12- A U.S. judge on Wednesday ordered former Goldman Sachs Group Inc trader Fabrice Tourre to pay more than $825,000 after a jury found him liable for defrauding investors in a subprime mortgage product that failed during the financial crisis.
DETROIT, March 12- General Motors Co said on Wednesday that even after the vehicles in its ignition-switch recall are repaired, owners should still have only the key and fob on the key ring.
Kroger rose$. 36 or. 8 percent, to $43.70. Safeway fell$. 05 or. 1 percent, to $38.60. Supervalu rose$. 13 or 2.0 percent, to $6.69.
Ballard Power Systems Inc. fell 2.2 percent to $4.99 with 26,015,600 shares traded. Capstone Turbine Corp. rose 5.0 percent to $2.29 with 18,835,700 shares traded. Cisco Systems Inc. rose. 8 percent to $21.78 with 16,248,800 shares traded.
Baxter International Inc. rose$. 08 or. 1 percent, to $67.83. Bristol-Myers Squibb Co. fell$. 79 or 1.4 percent, to $55.04. Hospira rose$. 01 or percent, to $42.69.
BP PLC fell$. 05 or. 1 percent, to $48.17. ConocoPhillips fell$. 09 or. 1 percent, to $66.44. Exxon Mobil Corp. fell$. 02 or percent, to $93.99.