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  • NEW YORK, Dec 18- Investors have wrung their hands over the last several weeks over the effect of lower oil prices on the broader S&P 500, but the relationship between the two is actually starting to break down. "The proof is that oil turned down and the market said,' Oh, that was yesterday's news, today we're moving ahead,"' said Quincy Krosby, market strategist at...

  • NEW YORK, Dec 19- U.S. homeowners suing mortgage companies once owned by a bank Wells Fargo& Co later acquired won a $54.8 million verdict on Friday in a class action over excessive fees. The verdict, by a federal jury in Manhattan, came in a long-running lawsuit by borrowers whose mortgages were owned or serviced by HomEq Serving or the lender whose loans it was...

  • AstraZeneca cancer drug, companion test approved Friday, 19 Dec 2014 | 1:24 PM ET

    TRENTON, N.J.— U.S. regulators on Friday granted accelerated approval to the first in a new class of targeted drugs for ovarian cancer, Lynparza from British drugmaker AstraZeneca PLC. The Food and Drug Administration also approved a companion diagnostic test from Myriad Genetics Inc. of Salt Lake City called BRACAnalysis CDx. Richard Pazdur, director of the...

  • New Jersey beach owner sues over dune project Friday, 19 Dec 2014 | 10:26 AM ET

    POINT PLEASANT BEACH, N.J.— A major Jersey shore beach owner is suing the state, the federal government and the borough of Point Pleasant Beach over a project to establish protective sand dunes along the state's shoreline. The work is being carried out by the U.S. Army Corps of Engineers as part of a beach replenishment project. John Buonocore Jr., a lawyer for the...

  • PATH stations reopening after Sandy repairs Friday, 19 Dec 2014 | 7:11 AM ET

    JERSEY CITY, N.J.— PATH's Exchange Place and World Trade Center stations reopen this weekend after nearly a year without weekend service because of Superstorm Sandy repairs and signal upgrades. The Port Authority of New York& New Jersey says approximately 280,000 square feet of metal tunnel surfaces and equipment were cleaned of salt residue left by Sandy and...

  • Gang accused of robbing New Jersey freight trains Friday, 19 Dec 2014 | 6:14 AM ET

    The 10 people arrested ran an enterprise that targeted shipping containers on CSX and Norfolk Southern trains, cutting locks and stealing high-end merchandise such as clothing, designer shoes, sneakers, watches, cologne, liquor and electronics, acting Hudson County Prosecutor Gaetano Gregory said. The goods were then loaded onto vans that would take them to...

  • Companies' data security in question after Sony hack Friday, 19 Dec 2014 | 12:05 AM ET

    The hack, which a U.S. official has said investigators believe is linked to North Korea, culminated in the cancellation of a Sony film and ultimately could cost the movie studio hundreds of millions of dollars. "The Sony breach is a real wake-up call even after the year of mega-breaches we've seen," says Lee Weiner, Boston security firm Rapid7's senior vice...

  • Poll: Americans skeptical of commercial drones Friday, 19 Dec 2014 | 12:01 AM ET

    The FAA is expected to propose restricting drones weighing less than 55 pounds to flights under 400 feet high, forbid nighttime flights, and require drones be kept within sight of their operators. Eddy Dufault, 58, a machinist and part-time wildlife photographer in Marlborough, Massachusetts, who is considering buying a drone, said he agrees with most of the...

  • Hellmann's maker Unilever drops suit over 'Just Mayo' Thursday, 18 Dec 2014 | 6:52 PM ET

    Hellmann's mayonnaise maker Unilever has withdrawn its lawsuit against the maker of " Just Mayo." Unilever filed suit against Hampton Creek earlier this year claiming the name of the small California company's product amounted to false advertising. Unilever said Thursday that it decided to withdraw the lawsuit so that Hampton Creek can address its label...

  • Assembly passes bills requiring use of US goods Thursday, 18 Dec 2014 | 5:57 PM ET

    TRENTON, N.J.— The Assembly has passed a package of bills requiring companies that have contracts with state entities to use products made in the United States. The bills call for companies with contracts with public colleges and universities, as well as the Port Authority of New York and New Jersey, the Delaware River Port Authority, Delaware River Joint Toll...

  • Dec 18- Billionaire investor Carl Icahn offered $20 million in financing on Thursday to keep the Trump Taj Mahal from becoming the fifth casino to close this year in New Jersey's troubled Atlantic City, was once the only major destination for gamblers on the U.S. East Coast. The Taj, owned by bankrupt Trump Entertainment Resorts Inc., is slated to close on Saturday.

  • Sony hacking fallout puts all companies on alert Thursday, 18 Dec 2014 | 4:52 PM ET

    The hack, which a U.S. official has said investigators believe is linked to North Korea, culminated in the cancellation of a Sony film and ultimately could cost the movie studio hundreds of millions of dollars. "The Sony breach is a real wake-up call even after the year of mega-breaches we've seen," says Lee Weiner, Boston security firm Rapid7's senior vice...

  • The greenback hit a 28- month high against the Swiss franc at 0.9847 franc after the Swiss National Bank said it would impose an interest rate of -0.25 percent on some large deposits held by investors in francs, as it seeks to discourage buying of the currency as a safe haven. The euro hit its lowest level against the dollar since Dec. 8, at $1.2266, while the dollar...

  • Dec 18- Billionaire investor Carl Icahn offered to lend $20 million to help bankrupt casino operator Trump Entertainment Resorts Inc keep its Trump Taj Mahal casino in Atlantic City open.

  • Icahn promises Taj Mahal casino $20M to stay open Thursday, 18 Dec 2014 | 1:57 PM ET

    In a letter dated Thursday, Icahn promised Trump Entertainment Resorts that he would provide enough money to keep the casino open throughout bankruptcy proceedings. "Many people would still argue that it would be a better financial decision for me to let the Taj close and wait to see whether a global settlement can be reached," Icahn wrote to Trump Entertainment...

  • Ex-Rite Aid VP charged in $14.6M surplus scheme Thursday, 18 Dec 2014 | 1:47 PM ET

    HARRISBURG, Pa.— A former Rite Aid quality assurance executive in Oregon and a New Jersey businessman have agreed to plead guilty to charges in connection with a nine-year, $14.6 million surplus inventory kickback scheme. Federal prosecutors Thursday charged Timothy Foster and businessman Jay Findling with conspiracy to commit wire fraud and 65- year-old...

  • *Wall Street on track for second day of strong gains. NEW YORK, Dec 18- Global equities markets rallied on Thursday, with Wall Street up more than 1 percent for a second straight day with investor sentiment buoyed by comments from the U.S. Wall Street primary dealers, on average, expect the first rate hike to come in June 2015, according to a Reuters poll.

  • NEW YORK, Dec 18- U.S. stocks climbed more than 1 percent on Thursday, extending a rally from the previous session as tech shares gained with upbeat results from Oracle. The technology sector, up 2.2 percent, helped fuel the advance, buoyed by a gain of over 8 percent in Oracle Corp, a day after its quarterly results topped Wall Street expectations.

  • Merck buys Swiss biotech with promising cancer drug Thursday, 18 Dec 2014 | 12:16 PM ET

    KENILWORTH, N.J.— Drugmaker Merck says it's bought a Swiss biotech company developing cancer drugs as part of its strategy to be a top player in cancer, one of the hottest pharmaceutical research areas. Merck& Co., based in Kenilworth, New Jersey, will pay up to $110 million upfront to OncoEthix. The privately held company could receive further payments of up to $265...

  • *Wall Street on track for second day of strong gains. NEW YORK, Dec 18- Global equities markets rallied on Thursday, with Wall Street up more than 1 percent for a second straight day on what investors viewed as a favorable result from the Federal Reserve's most recent meeting. A Reuters poll of Wall Street dealers puts expectations for the first interest-rate...