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  • LOUISVILLE, Ky.— Liquor producer Brown-Forman Corp. is putting a descendant of its founder in charge of its original whiskey, the latest sign that it intends to rejuvenate the long-struggling Old Forester bourbon brand. Campbell Brown— a fifth-generation descendant of company founder George Garvin Brown— is being promoted to the new position of president of...

  • CHICAGO, March 16- U.S. authorities are considering imposing tougher restrictions in Arkansas to contain a virulent strain of avian flu in the heart of America's poultry region in a bid to minimize international trade disruptions and contain the virus. The H5N2 flu discovered in Arkansas last week is the state's first case of a strain that causes massive...

  • But some wildlife experts are skeptical of suggestions that wild birds are responsible for spreading the H5N2 flu strain that has infected poultry in Minnesota, Missouri and Arkansas. A top investigator from the U.S. Department of Agriculture says that testing performed by the government supports a conclusion that the virus is being carried by waterfowl...

  • WASHINGTON, March 13- As the Senate Banking committee pushes ahead with its agenda, one target emerging on both sides of the political aisle is the New York Federal Reserve Bank and its role in the financial industry. The New York Fed has come under increased pressure from lawmakers who say the bank is too cozy with Wall Street, a charge that gained attention from...

  • DETROIT, March 13- The family of a woman who died in a crash later blamed on a faulty General Motors Co ignition switch has settled a civil lawsuit against the automaker, ending litigation that helped bring to light the company's decade-long delay in recalling millions of defective vehicles. The Melton family was represented by Lance Cooper of the Cooper Firm of...

  • New York Fed in crosshairs of Senate Banking committee Friday, 13 Mar 2015 | 11:59 AM ET

    WASHINGTON, March 12- The Senate Banking Committee is zeroing in on the New York Federal Reserve Bank in its reform effort aimed at the U.S. central bank. The Alabama Republican has expressed interest in a plan by the outgoing Dallas Fed president that includes stripping the New York Fed of its permanent vote on policy and transferring Wall Street oversight from...

  • NEW YORK, March 12- Raising the minimum age to purchase tobacco products to 21 or 25 years old would significantly reduce their use and tobacco-related illnesses in the United States, a study published Thursday found, suggesting that states and local authorities should consider passing such laws. Four states- Alabama, Alaska, New Jersey and Utah- have increased...

  • *Hyundai shares up over 3 pct. A Hyundai spokesman said there were "no plans at this stage" to increase capacity in the United States. Hyundai currently builds its Santa Fe SUV at affiliate Kia Motors' production facilities in Georgia, while importing Tucson compact SUVs from Korea.

  • SEOUL, March 11- Hyundai Motor Co has decided to build its second U.S. factory to meet demand for sport utility vehicles, South Korea's Yonhap News Agency reported on Wednesday, citing an industry source familiar with the matter. A Hyundai Motor spokesman said "there are no plans at this stage," without elaborating further. Hyundai Motor builds its Elantra compact...

  • WASHINGTON, March 3- The Senate Banking Committee on Tuesday launched its effort to pursue reforms at the Federal Reserve, with the central bank's regional structure among the topics that came into the panel's cross-hairs. This month, outgoing Dallas Fed President Richard Fisher said the Fed should revamp its rules to address perceptions of conflicts of...

  • WASHINGTON, March 3- The chairman of the U.S. Senate Banking Committee said on Tuesday that the Federal Reserve is not immune from congressional oversight. Senator Richard Shelby said at a Fed reform committee hearing on Tuesday that the panel will explore reforming the Fed system, as the Alabama Republican and other lawmakers add pressure to the U.S. central...

  • WASHINGTON, Feb 24- Tough questions aimed at Federal Reserve Chair Janet Yellen from a rising force in the Democratic Party on Tuesday showed how the U.S. central bank is facing increasing pressure from both sides of the political aisle. "I urge you... to assess whether the leadership of the Fed's staff is on the same page as the Federal Reserve Board," Senator...

  • WASHINGTON, Feb 24- The Federal Reserve is preparing to consider interest rate hikes "on a meeting-by-meeting basis," Fed Chair Janet Yellen told a congressional committee on Tuesday in a subtle change of emphasis in how the U.S. central bank has spoken about its plans for its first rate hike since 2006.. In prepared remarks to the Senate Banking Committee, Yellen...

  • WASHINGTON, Feb 24- The Federal Reserve is preparing to consider interest rate hikes "on a meeting by meeting basis," Fed Chair Janet Yellen told a congressional committee on Tuesday in a subtle change of emphasis in how the Fed has been speaking about its plans for the first interest rate increase since 2006.. In prepared remarks to the Senate Banking Committee...

  • NEW YORK, Feb 23- The Nasdaq ended higher on Monday for a ninth straight day following gains in Apple, while the Dow and S&P 500 eased off recent record highs as lower oil prices dragged down energy shares. Nasdaq's winning run was its longest since September 2010, putting the index closer to its 5,132.52 all-time intraday high, reached in March 2000 just before the...

  • WASHINGTON, Feb 23- The Senate Banking committee is expected to hold a hearing next week on reforms aimed at the Federal Reserve, a Senate aide said on Monday, as lawmakers push for more transparency at the U.S. central bank. The Senate aide said the timing could change at the last minute, but for now, it was set for March 3. The Republican takeover of the Senate this year...

  • *Senate committee expected to call hearing on bill- sources. A similar Fed audit bill passed the House of Representatives late last year and a hearing on Fed transparency is expected to be formally called by the Senate banking committee, according to people familiar with the matter. "We feel the current system works well, it's time-tested, and there are all kinds of...

  • *Investors watching situations in Greece, Ukraine. NEW YORK, Feb 17- The S&P 500 ended above 2,100 at another record high on Tuesday as optimism grew that a debt deal would be reached with Greece and as bond prices sold off. In a possible sign of progress for Greece, a source told Reuters the country intends to ask for an extension of a loan agreement Wednesday.

  • Stelia Aerospace considering U.S. production facility Thursday, 12 Feb 2015 | 4:46 PM ET

    SEATTLE, Feb 12- Stelia Aerospace, a large maker of commercial aircraft structures and components, is considering putting a production facility in the United States to be closer to customers and increase its purchases in dollars, a senior executive said on Thursday. Stelia, formed last month from the merger of Airbus subsidiaries Aerolia and Sogerma, is...

  • *PepsiCo climbs after results, Wal-Mart off on Canada plans. NEW YORK, Feb 11- The S&P 500 index finished unchanged on Wednesday as investors were reluctant to make big bets while they waited for the outcomes of major talks involving Greece and Ukraine, but Apple helped boost the Nasdaq after an activist investor's bullish comments. Adding to the market's...