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  • NEW YORK, Jan 28- A federal judge on Wednesday said U.S. investors may pursue a nationwide antitrust lawsuit accusing 12 major banks of rigging prices in the $5.3 trillion- a-day foreign exchange market. The bank defendants are Bank of America Corp, Barclays Plc, BNP Paribas SA, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group Inc, HSBC...

  • Correction: Earns-Amgen story Wednesday, 28 Jan 2015 | 3:37 PM ET

    In a story Jan. 27 about drugmaker Amgen's quarterly results, The Associated Press misspelled the name of a drug and misstated the type of cancer another drug treats. Amgen tops Street 4 Q forecasts. Amgen beats 4 Q net income and revenue expectations.

  • *U.S. crude hits session low at $44.08, lowest since April 2009. NEW YORK, Jan 28- Oil slumped on Wednesday, with U.S. crude prices at near six-year lows, after the government reported record-high inventories in the United States that raised anxieties about the global oil glut that had pressured the market since last summer. It sank to as low as $44.08 before the close,...

  • US STOCKS-U.S. stocks fall after Fed statement, oil drop Wednesday, 28 Jan 2015 | 3:26 PM ET

    NEW YORK, Jan 28- U.S. stocks fell on Wednesday, driven by extended losses in the S&P 500 energy sector, after the Federal Reserve said it will remain "patient" in deciding when to raise interest rates. Concluding their first policy-setting meeting of the year, Fed officials looked past the urgent moves made by other central banks this month to boost their struggling...

  • *China's gold imports from Hong Kong fell in 2014. NEW YORK/ LONDON, Jan 28- Gold extended losses on Wednesday after the Federal Reserve said it will remain "patient" with regard to any interest rate increase decisions. "The removal of' considerable time' was balanced by the acknowledgement of the international situation and reiteration of patience," said Tai Wong,...

  • S&P close to $1.37B deal over risky mortgage bond ratings Wednesday, 28 Jan 2015 | 3:22 PM ET

    WASHINGTON— Standard& Poor's is close to a $1.37 billion settlement with the Obama administration and U.S. states over allegations it knowingly inflated its ratings of risky mortgage investments that helped trigger the financial crisis. A person familiar with the matter said Wednesday that the credit rating agency is expected to sign an agreement to settle...

  • Toyota recalls 52,000 Avalon sedans for fire risk Wednesday, 28 Jan 2015 | 2:55 PM ET

    TORRANCE, Calif.— Toyota is recalling 52,000 Avalon sedans because of a wiring problem that could cause a fire. The recall affects Avalons from the 2011 and 2012 model years. Toyota says cargo in the trunk could move the wires connected to the audio system subwoofer.

  • Two federal lawsuits filed in the District of Columbia allege the EPA has not responded to petitions filed in 2009 and 2011 asking the agency to use its Clean Air Act authority to regulate large hog, cattle and poultry farms. The groups include the Environmental Integrity Project, the Humane Society of the United States, and citizen groups from Wisconsin, Iowa...

  • District Judge James Mahan in Las Vegas granted an SEC request that MRI International Inc and its owner, Edwin Fujinaga, be ordered to give up $544.4 million of illegal profit and interest, and to each pay a $20 million civil fine. But the SEC said the defendants ran an "extensive and egregious Ponzi scheme" in which they used new money to repay older investors, and...

  • NEW YORK, Jan 28- Wall Street stocks edged lower on Wednesday while the dollar rose as the Federal Reserve said growth in the U.S. economy was on track despite turmoil in other markets around the world, keeping it on pace to raise interest rates later this year. Concluding their first policy-setting meeting of the year, Fed officials looked past moves made by other...

  • US STOCKS-U.S. stocks give up gains after Fed statement Wednesday, 28 Jan 2015 | 2:36 PM ET

    NEW YORK, Jan 28- U.S. stocks fell slightly in volatile trading on Wednesday after the Federal Reserve said the U.S. economy is on track and it will remain "patient" in deciding when to raise interest rates. Concluding their first policy-setting meeting of the year, Fed officials looked past the urgent moves made by other central banks this month to boost their...

  • California declares electronic cigarettes a health threat Wednesday, 28 Jan 2015 | 2:32 PM ET

    SACRAMENTO, Calif.— California health officials on Wednesday declared electronic cigarettes a health threat that should be strictly regulated like tobacco products, joining other states and health advocates across the U.S. in pushing back against the fast-growing device. "Despite the health officer's false claims, there is ample evidence that vaping helps...

  • MARSHFIELD, Mass., Jan 28- Ocean Street in the waterfront Massachusetts town of Marshfield was littered with lobster traps, downed wires and chunks of houses on Wednesday, after a massive blizzard hammered New England. Notably absent was much of the 2 feet of snow that blanketed much of the Boston area, since for much of the storm, Ocean Street was under water because...

  • WASHINGTON, Jan 28- The Federal Reserve on Wednesday said the U.S. economy was expanding "at a solid pace" as it largely looked through weakness overseas in a signal that it remains on track to raise interest rates later this year. The U.S. central bank repeated it would be "patient" in deciding when to raise benchmark borrowing costs from zero, where they have been...

  • Text of the Federal Reserve's statement Wednesday Wednesday, 28 Jan 2015 | 2:24 PM ET

    WASHINGTON— Below is the statement the Fed released Wednesday after its policy meeting ended:. Information received since the Federal Open Market Committee met in December suggests that economic activity has been expanding at a solid pace. Labor market conditions have improved further, with strong job gains and a lower unemployment rate.

  • Community National posts 4Q profit Wednesday, 28 Jan 2015 | 2:21 PM ET

    NEW YORK _ Community National Bank on Wednesday reported net income of $880,000, or 13 cents per share, in its fourth quarter. The bank, based in New York, said it had earnings of 13 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • Sheriffs expand concerns about Waze mobile traffic app Wednesday, 28 Jan 2015 | 2:17 PM ET

    WASHINGTON— A law enforcement campaign to compel Google Inc. to disable a feature in its popular Waze traffic app that lets drivers warn others about nearby police activity shifted Wednesday when a sheriffs' organization openly complained that the app not only puts officers' lives at risk, it also interferes with the ability to write speeding tickets.

  • WASHINGTON— Fed voices new concerns about low inflation, repeats aim to be' patient' in raising rates.

  • WASHINGTON— The Federal Reserve reiterated Wednesday that it will be "patient" in raising rates from record lows but noted that inflation remains below its target even as the U.S. economy improved. Chair Janet Yellen said after last month's meeting that by saying it would be "patient," the Fed was signaling there would be no rate increase for at least two meetings.

  • The suburban Philadelphia- based chain says Wednesday it's contracting with a Middle East food executive to open 46 stores in the next decade in Turkey, Egypt, Saudi Arabia and five other Arab nations. Rita's contractor Faysal Younes, who formerly worked with Starbucks, says the Middle East's warm climate makes it a natural market for Rita's sweet, frozen...