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  • NEW YORK, Dec 17- A tiny mutual fund based in Miami, a clutch of cruise line operators and a Canadian natural resources company rank among the early winners in the Obama administration's surprise move on Wednesday to thaw relations with Cuba. While the Cuban economy is small, with gross domestic product of roughly $70 billion, according to the World Bank,...

  • Stocks with exposure to Cuba rise sharply Wednesday, 17 Dec 2014 | 5:37 PM ET

    NEW YORK— A batch of stocks with exposure to Cuba rose sharply Wednesday after President Obama moved to restore diplomatic relations between the U.S. and Caribbean island after more than 50 years of hostility. The closed-end mutual fund, with the stock ticker " CUBA," owns several companies with exposure to Cuba, including Copa Holdings and Royal Caribbean.

  • Dec 17- After twenty years, Thomas Herzfeld's long bet on Cuba is paying off. The Miami Beach- based portfolio manager behind the $25.3 million Herzfeld Caribbean Basin fund, the only Cuba- focused fund in the United States, watched its shares soar more than 40 percent at one point on Wednesday after President Barack Obama's surprise move to thaw relations with the...

  • The United States' commercial ties with Cuba were broken 54 years ago after Fidel Castro took over. Now U.S.- Cuba trade is poised to resume: President Barack Obama on Wednesday announced plans to re-establish diplomat relations with Havana, and economic ties are expected to follow. Gary Hufbauer and Barbara Kotschwar of the Peterson Institute for...

  • HAVANA/ WASHINGTON, Dec 17- President Barack Obama announced the United States would restore diplomatic relations it severed with Cuba more than 50 years ago, drawing resistance from lawmakers opposed to reconciling with the communist-run island. Obama said the moves were made possible by Havana's release of American Alan Gross, 65, who had been imprisoned...

  • Cuba overhaul seen reviving 'deadbeat dictatorship' Wednesday, 17 Dec 2014 | 2:15 PM ET
    Cuban President Raul Castro listens during the opening of the Caribbean Community Summit, in Havana, on December 8, 2014.

    The U.S. move to normalize relations with Cuba without a regime change will strengthen that country's "dictatorship," a former U.S. diplomat says.

  • NEW YORK, Dec 17- A tiny mutual fund based in Miami, a clutch of cruise line operators and a Canadian natural resources company are the early winners in the Obama administration's surprise move on Wednesday to thaw relations with Cuba. While the Cuban economy is small, with gross domestic product of roughly $70 billion, according to the World Bank, comparable to...

  • Announcing the end of what he called a "rigid" policy of isolation of Cuba that had been ineffective, Obama said the United States would move toward normal ties and would open an embassy in Cuba. Castro spoke in Cuba as Obama made his announcement on a policy shift made possible by the release of American Alan Gross, 65, who had been imprisoned in Cuba for five years.

  • Announcing the end of what he called a "rigid" policy of isolation of Cuba that had been ineffective, Obama said the United States planned to move toward normal ties and would open an embassy in Cuba. Castro spoke in Cuba as Obama made his announcement on a policy shift made possible by the release of American Alan Gross, 65, who had been imprisoned in Cuba for five...

  • Scaife children to file next month in trust beef Wednesday, 17 Dec 2014 | 12:39 PM ET

    PITTSBURGH— A judge has given the children of late billionaire newspaper publisher Richard Mellon Scaife until Jan. 16 to file documents in their quest to have trustees detail how money was spent from a $210 million trust their father controlled. Scaife's children, Jennie Scaife, of Palm Beach, Florida, and David Scaife, of Pittsburgh, believe they were entitled...

  • NEW YORK, Dec 17- The U.S. Congress, in its wisdom, waited until the waning weeks of the year to approve some tax breaks that will only be good for 2014.. But there are a handful of provisions that may benefit some taxpayers who have special situations and can act quickly to lock in their breaks, once President Barack Obama signs the tax extenders bill as he is expected to...

  • US travel industry carefully eyeing Cuba tourism Wednesday, 17 Dec 2014 | 12:11 PM ET

    NEW YORK— Cuba was once a haven for sun-seeking American tourists. President Barack Obama's announcement Wednesday of plans to re-establish diplomatic ties with Cuba doesn't suddenly lift the ban on U.S. tourism. "Cuba is the largest country in the Caribbean, so there's some exciting possibilities," said Roger Frizzell, spokesman for Carnival Corp. He said "some...

  • AP Interview: McConnell wants to stop coal rules Wednesday, 17 Dec 2014 | 12:10 PM ET

    WASHINGTON— Incoming Senate Majority Leader Mitch McConnell, R- Ky., pledged on Wednesday to do all he can to stop President Barack Obama's coal plant regulations, saying a White House "crusade" has devastated his state's economy. McConnell takes over the Senate leadership and its new Republican majority in January. Asked if the Senate had any obligation to...

  • President Barack Obama was set to announce a shift in policy toward Cuba on Wednesday and the Associated Press reported the changes would include the opening of an embassy in Cuba and the start of talks to normalize relations. The shift in policy, which could be one of the biggest changes in decades of animosity between communist-ruled Cuba and the United...

  • US, Cuba patch torn relations in historic accord Wednesday, 17 Dec 2014 | 8:56 AM ET

    WASHINGTON— After a half-century of Cold War acrimony, the United States and Cuba moved on Wednesday to restore diplomatic relations— a historic shift that could revitalize the flow of money and people across the narrow waters that separate the two nations. President Barack Obama's dramatic announcement in Washington— seconded by Cuban President Raul...

  • Upgrades at US border crossing thrill commuters Wednesday, 17 Dec 2014 | 1:48 AM ET

    Waits to enter San Diego from Tijuana, Mexico, during the morning rush have dropped to less than 45 minutes from two hours since vehicle lanes were added in September. "I lost so much time that it made me cry," said Tijuana resident Alexandra Acua, driving a friend to the San Diego airport during a recent Monday morning rush. Shorter lines have fueled a 20 percent...

  • Dec 16- On Deck Capital Inc, an online small-business lender, said its initial public offering was priced at $20 per share, above the expected range of $16- $18. The New York- based company, which offers loans of up to $250,000, counts First Round Capital, Google Ventures, Institutional Venture Partners, Tiger Global Private Investment Partner and SAP Ventures among...

  • Temporary tax breaks _ which ones affect you? Tuesday, 16 Dec 2014 | 8:23 PM ET

    Congress gave final approval Tuesday to a bill extending more than 50 expired tax breaks through the end of 2014. They include:. —A tax credit for the production of wind, solar and other renewable energy. Nine states have no tax on wages: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming.

  • *Olive Garden 2nd- qtr same-store sales up 0.5 pct. Dec 16- Darden Restaurants Inc, whose entire board was replaced by activist investor Starboard Value LP, reported a 4.9 percent rise in quarterly sales and raised the lower end of its adjusted profit forecast for the full year. Darden said it now expects adjusted profit of $2.25- $2.30 per share from continuing...

  • Heico beats 4Q profit forecasts Tuesday, 16 Dec 2014 | 5:48 PM ET

    HOLLYWOOD, Fla. _ Heico Corp. on Tuesday reported fiscal fourth-quarter net income of $32.1 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share. Analysts expected $305.1 million, according to Zacks.