Meera Joshi, NYC Taxi & Limousine CEO, discusses the launch of ride-sharing service Lyft in New York City, officially taking on rival Uber.» Read More
LONDON, July 29- A U.S. investor is suing Barclays Plc and current and former bosses over losses suffered after New York's attorney general accused the British bank of lying to customers regarding its electronic trading platform.
Major indexes in Europe and Asia climbed ahead of a string of U.S. and Chinese economic reports later this week. A DOUBLE: A large sale and a tax benefit helped Merck& Co. more than double its second-quarter profit, easily topping Wall Street's expectations. The drugmaker also raised its profit forecast for 2014. Its stock climbed 86 cents, or 2 percent, to $58.84.
GAZA/ JERUSALEM, July 29- Israel's military pounded targets in the Gaza Strip on Tuesday after Prime Minister Benjamin Netanyahu said his country should prepare for a long conflict in the Palestinian enclave, squashing any hopes of a swift end to 22 days of fighting. Gaza residents reported heavy Israeli bombing in Gaza City.
NEW YORK— More travelers are flying than ever before, creating a daunting challenge for airlines: keep passengers safe in an ever more crowded airspace. Each day, 8.3 million people around the globe— roughly the population of New York City— step aboard an airplane.
NEW YORK— Within minutes, the line at the food truck parked on a busy Queens thoroughfare extended several people deep. New York City's Department of Education put its first truck in service a couple of years ago, and this year it has four— one that goes to Orchard Beach in the Bronx and three that go to a park and two library branches in Queens.
WASHINGTON— A $1,000- per-pill drug that insurers are reluctant to pay for has quickly become the treatment of choice for a liver-wasting viral disease that affects more than 3 million Americans. In less than six months, prescriptions for Sovaldi have eclipsed all other hepatitis C pills combined, according to new data from IMS Health.
GENEVA— Switzerland's biggest bank, UBS, reported Tuesday a 15 percent rise in second-quarter profit, driven by its core wealth management business, and disclosed it was part of a group of financial companies being investigated over alternative trading systems called "dark pools."
BUENOS AIRES, July 29- Factory owner Norberto Garcia was poised to launch a series of new toys this year after grafting hard for the past decade to rebuild his business following Argentina's 2001-2002 economic crash and debt default. Rather than sink 2.8 million pesos into expanding production lines, he plans to cap the investment at 1.8 million pesos.
NEW YORK, July 28- Argentina has fought in court for a dozen years against the claims of holdout investors in its defaulted debt, and Argentina has lost. Argentina defied court-ordered demands to pay all its bondholders by a June 30 deadline, and a 30- day grace period runs out this week.
July 28- Online flash sale site Rue La La, which was formerly partly owned by eBay, is exploring a sale that could value the company at around $400 million, people familiar with the matter said on Monday. Boston- based Rue La La, which has attracted interest from online shopping site Gilt Groupe, has hired JPMorgan Chase& Co to advise a potential sale, the people said.
HOUSTON, July 28- Iraq filed suit on Monday in a Texas court to gain control of a cargo of crude oil from Iraqi Kurdistan that Baghdad says was sold without its permission. Iraq, in its filing in U.S. District Court for the Southern District of Texas, asked for an order allowing the cargo to be seized by the U.S.
Hecla Mining Co. fell$. 04 or 1.2 percent, to $3.27. Pan American Silver Corp. rose$. 13 or. 9 percent, to $15.13. Silver Standard Resources Inc. rose$. 27 or 2.9 percent, to $9.53.
American Electric Power Co. rose $1.43 or 2.7 percent, to $54.65. Consolidated Edison Inc. Holding Co. rose$. 72 or 1.3 percent, to $57.70. Dominion Resources Inc. rose $1.02 or 1.5 percent, to $70.88.
Kelly Services Inc. class A fell$. 40 or 2.4 percent, to $16.16. Korn/Ferry International Inc. fell$. 13 or. 4 percent, to $29.62. ManpowerGroup fell $2.10 or 2.6 percent, to $79.36.
Autozone Inc. fell $1.35 or. 3 percent, to $513.22. Bed Bath& Beyond Inc. fell$. 22 or. 4 percent, to $62.29. Best Buy rose$. 52 or 1.7 percent, to $31.55.
NEW YORK— A look at the 10 biggest volume decliners on New York Stock Exchange at the close of trading:. Aeroflex Holding Corp.: Approximately 39,900 shares changed hands, a 92.4 decrease from its 65- day average volume. The shares fell$. 02 or. 2 percent to $10.53.
NEW YORK— A look at the 10 biggest volume gainers on New York Stock Exchange at the close of trading:. The shares fell $5.77 or 10.4 percent to $49.60. Brookfield Canada Office Properties: Approximately 8,800 shares changed hands, a 352.0 percent increase over its 65- day average volume.
Kroger fell$. 58 or 1.1 percent, to $50.13. Safeway fell$. 08 or. 2 percent, to $34.79. Supervalu rose$. 09 or 1.0 percent, to $9.42.
AcelRx Pharmaceuticals Inc.: Approximately 13,503,900 shares changed hands, a 1,723.5 percent increase over its 65- day average volume. The shares fell $4.44 or 41.0 percent to $6.39. Colonial Financial Services Inc.: Approximately 38,100 shares changed hands, a 2,594.7 percent increase over its 65- day average volume.
NEW YORK— Shares of some top telecom companies were up at the close of trading:. AT&T Inc. rose$. 11 or. 3 percent, to $35.65. Verizon Communications Inc. rose$. 30 or. 6 percent, to $51.58.