Clive McDonnell, Head of Equity Strategy at Standard Chartered Bank, says the Fed's primary focus remains on the U.S. economy.» Read More
NEW YORK, March 12- Over the next decade, Wall Street banks will cut in half the proportion of support staff they have in pricey cities like New York and London and shift those workers to less expensive cities in the developing world, according to a projection by consulting firm Johnson Associates Inc..
NEW YORK, March 12- Puerto Rico's newly issued bonds rallied on Wednesday, a day after investors flocked to the high returns offered by the cash-strapped U.S. territory's $3.5 billion debt sale.
March 12- Herbalife Ltd said on Wednesday that the U.S. Federal Trade Commission had opened an inquiry into its operations, news that briefly sent the nutrition and weight loss company's share price down more than 16 percent.
WASHINGTON, March 12- The normally divided U.S. Senate moved forward on Wednesday with a new, bipartisan agreement designed to ease partisan gridlock. I'm optimistic, "said Republican Senator Lamar Alexander of Tennessee.
March 12- Wall Street watchdog FINRA said Wednesday it is struggling to find enough arbitrators to handle a mounting number of claims from investors who lost money in closed-end Puerto Rico bond funds.
You, however, are not Yale and neither, likely, is your pension fund, university endowment or personal portfolio. Understanding why what is good for the goose underperforms for the gander is key to not just Yale's fantastic performance, but improving your own.
*Chilean peso rebounds after near 5- year lows on China concerns. NEW YORK, March 12- Emerging market currencies rose moderately on Wednesday, rebounding from earlier losses as investors remained nervous over China's economy and Ukraine's future, supporting safe-haven demand for the yen and the Swiss franc.
*Copper hits near four-year lows. Treasuries prices rose in safe-haven bids on Wednesday on worries over the health of China's economy, which helped fuel strong demand at the U.S. government's 10- year Treasury note auction.
WASHINGTON, March 12- There will be no delay in the penalty most Americans face under President Barack Obama's healthcare reform law if they fail to obtain health coverage this year, U.S. Health and Human Services Secretary Kathleen Sebelius said on Wednesday.
Singer, part of the world's largest sewing machine company, SVP Worldwide, is owned by private equity firm Kohlberg& Company LLC. It is working with investment bank Harris Williams on the potential sale, the people said. Kolhberg, SVP Worldwide and Harris Williams could not be reached for comment.
*Herbalife shares tumble on FTC investigation. NEW YORK, March 12- U.S. stocks were little changed on Wednesday, as equities recouped much of their earlier declines amid signs of progress in diplomatic attempts to ease tensions in Ukraine.
NEW YORK-- JetBlue Airways Corp. said Wednesday that passenger traffic rose 5.2 percent last month and a key revenue figure increased despite storms that caused flight cancelations. JetBlue said revenue for each seat flown one mile rose 7 percent last month, compared with February 2013.
Swiss citizen Andreas Bachmann, 56, entered the plea in federal court in Alexandria, Virginia, the documents show. Bachmann, a former relationship manager in Switzerland for a Credit Suisse unit, described his role in one of the documents that was filed as part of an agreement with prosecutors. A spokesman for Credit Suisse declined to comment.
SAO PAULO, March 12- The hiring of three top bankers of BR Partners Banco do Investimento SA by New York- based Moelis& Co LLC was "improper and unethical," Ricardo Lacerda, chief executive officer of the Brazilian investment bank, said on Wednesday, adding that BR Partners is considering possible action.
*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.