Geoff Lewis, Global Market Strategist at J.P. Morgan Asset Management, says a recovery in the U.S. and Europe may provide stabilization for commodities in the second-quarter.» Read More
SYDNEY, April 16- Australian miners are racing ahead with plans to expand iron ore production to capture more of the Chinese market for the steelmaking ingredient, amid strong competition from the world's biggest supplier Vale of Brazil.
NEW YORK, April 16- Predicting when the bear market in biotech stocks will hit bottom is a hazardous prospect, but one gauge that factors in the rapid profit growth estimates for many of these companies suggests several are starting to look attractive.
NEW YORK/ CHICAGO, April 16- Just over a week ago, CME Group Inc suffered the worst-ever trading outage on the world's most important agricultural markets, plunging electronic screens into darkness and sending dozens of traders scrambling for Chicago's famous but now often deserted trading "pits".
DETROIT— The city of Detroit reached tentative agreements to preserve pensions for retired police office and firefighters but cut monthly payments for other former employees, key deals that could accelerate the largest public bankruptcy in U.S. history, officials said Tuesday.
NEW YORK— Ford is building a limited-edition Mustang GT to honor the pony car's 50th anniversary. The company will only build 1,964 special cars, honoring the year the Mustang first went on sale. Ford is showing the Limited Edition at the New York auto show, which begins this week.
DETROIT— General Motors revealed in court filings late Tuesday that it will soon ask a federal bankruptcy judge to shield the company from legal claims for conduct that occurred before its 2009 bankruptcy.
FARGO, North Dakota/ BANGOR, Maine, April 15- The U.S. "If you commit to keeping rates low even as the recovery is proceeding, even as we continue to recover, I think people have a sense, the Fed has the recovery's back," Minneapolis Federal Reserve Bank President Narayana Kocherlakota said at North Dakota State University.
PIERRE, S.D.— A federal oversight board told Canadian Pacific Railway and BNSF Railway that they have until Friday to report their plans to ensure delivery of fertilizer shipments for spring planting of U.S. crops.
April 15- Starbucks Corp said it decided to move its European headquarters to the United Kingdom from the Netherlands following criticism over its low tax payments in Britain last year, The Times reported.
TOKYO- Bank of Japan Governor Haruhiko Kuroda speaks at the Japan Trust Banks Association- 0615 GMT. LJUBLJANA- Slovenia Finance Minister Uros Cufer speaks at a business conference on the European and Slovenian banking sector- 0700 GMT.
FARGO, N.D., April 15- The U.S. Federal Reserve is coming up short on its goals for both inflation and employment, a top Fed official said on Tuesday, and the central bank ought to do more to ensure they return to healthier levels.
District Court judge on Tuesday stopped Massachusetts from implementing a ban on the sale of Zogenix Inc's prescription painkiller Zohydro, saying federal law superseded the state's action.
General Motors unveiled the 2015 model Tuesday evening ahead of the New York International Auto Show. General Motors thinks young buyers and downsizing Baby Boomers who like the Chevy Equinox and the Honda CR-V will go even smaller, as long as they can still sit up high. The Trax has been sold since 2012 in Canada and Mexico.
SAN FRANCISCO— A trade group for wireless providers said Tuesday that that nation's biggest mobile device manufacturers and carriers will soon put anti-theft tools on the gadgets to try to deter rampant smartphone theft.
WASHINGTON— The Obama administration is raising concern about the value of China's currency but is declining, as in recent years, to accuse Beijing of manipulating it. The Treasury Department said China's currency, the renminbi, has appreciated but not as fast or as much as needed.
District Judge David Carter in Santa Ana, California, nonetheless gave S&P, a unit of McGraw Hill Financial Inc, access to evidence that the lawsuit may have been in retaliation for the agency's Aug. 5, 2011 decision to lower the U.S. credit rating to "AA-plus" from "triple-A."
Treasury stopped short of declaring China a currency manipulator, but singled it out among large U.S. trading partners for its currency practices.
New York Attorney General Eric Schneiderman and San Francisco District Attorney, George Gascon welcomed the voluntary agreement but said it fell short of what they have advocated to prevent theft.
NEW YORK— Montreal's mayor sought to convince Manhattan business leaders Tuesday that his administration is moving past the corruption scandals that brought down his two predecessors and have become the "elephant in the room" when trying to lure investment to Canada's second largest city.
*Goldman Sachs and Morgan Stanley lead underwriters for offering. April 15- Moelis& Co's initial public offering has been priced at $25 per share- below its expected range- a market source said, valuing the independent investment bank at about $1.29 billion.