Are high taxes in New York City chasing away the rich? CNBC's Robert Frank reports 1 in every 22 New York City people is a millionaire.» Read More
*U.S. crude stocks down 4 mln barrels, Cushing down 1.4- EIA. NEW YORK, July 23 (Reuters)- Oil futures rose on Wednesday, with U.S. crude outpacing Brent, after oil stockpiles in the United States fell more than expected. Brent crude for September delivery was up 9 cents at $107.42 a barrel at 12:59 p.m. EDT ( 1659 GMT), after slipping 35 cents in the previous session.
*Adjusted profit $1.04 a share vs estimate of $1.03. July 23- Delta Air Lines reported a higher-than-expected second-quarter profit as it flew fuller planes and enjoyed higher passenger revenue in the United States, boosting its shares by 3 percent.
NEW YORK— Brooklyn Roasting Co. has a booming business based on helping people thousands of miles away. Sales of its Fair Trade coffee, which comes from Mexico, Peru, Indonesia and Ethiopia, have soared from $900,000 in 2011 to $4.4 million last year.
July 23- PepsiCo Inc's higher-than-expected quarterly profit could give the company more ammunition against an activist investor who wants it to separate its snack and beverage businesses. The sales increases were partly a result of price hikes that PepsiCo implemented as it launched new products which usually command higher prices.
NEW YORK, July 23- A hedge fund with over $400 million in Puerto Rico bonds has joined a legal challenge against a law that allows the U.S. New York- based BlueMountain Capital Management filed a lawsuit in the district court of Puerto Rico on Tuesday, claiming that the new law, known as the Recovery Act, runs counter to both the Puerto Rican and U.S. constitutions.
NEW YORK— Stocks are little changed in midday trading as traders look over a mixed batch of corporate earnings. Boeing fell 2 percent Wednesday after its revenue fell short of what analysts were expecting. The Standard& Poor's 500 index rose five points, or 0.3 percent, to 1,988 as of noon Eastern time.
NEW YORK— Many of the Amazon Fire phone's features are twists on apps and concepts tried in other devices. But in a number of cases, Amazon's technology is more comprehensive and reliable, showing that innovation is often about rethinking old ideas. On iPhones and Android devices, each icon takes you to a different app.
NEW YORK, July 23- A court-appointed mediator in the Argentina debt dispute said he had to push back by a day the start of the latest round of settlement talks on Wednesday because the Argentine delegation "could not get here in time."
SAO PAULO/ BRASILIA, July 23- Brazil's Treasury is offering on Wednesday a new 30- year global bond and buying back as many as eight shorter-dated issues, in a bid to take advantage of growing appetite for Brazilian assets and improve the country's dollar-denominated yield curve.
NEW YORK, July 23- Settlement talks set for Wednesday between Argentina and bondholders who did not participate in the country's past debt restructuring have been rescheduled for Thursday, the court-appointed mediator said.
*Israel rejects comparisons with Ukrainian disaster. *Israel offers desert airport as alternative. JERUSALEM, July 23- Israel tried on Wednesday to get U.S. and European commercial flights to Tel Aviv restored after some carriers suspended services, insisting its main airport there was safe despite being targeted by Palestinian rockets.
NEW YORK— The nation's largest retail trade group has pared its annual sales forecast because of slower-than-expected growth during the first half of the year tied to winter storms and lingering economic woes.
*Microsoft sees end to Nokia losses, shares rise. NEW YORK, July 23- The S&P 500 hit a record high on Wednesday, lifted by bullish earnings from companies like Apple and Microsoft, though technical resistance and conflicts in Ukraine and the Gaza Strip kept gains in check.
NEW YORK, July 23- U.S. long-term Treasury debt prices edged higher for a third straight session on Wednesday on continued safe-haven demand as global tensions in the Middle East and Ukraine persisted.
NEW YORK— The politically connected former CEO of a prominent New York City charity was sentenced to prison Wednesday for helping to steal more than $9 million from the anti-poverty organization.
NEW YORK— Stocks are mostly lower in early trading as traders look over a mixed batch of earnings reports. Whirlpool, Ryder systems and Boeing all fell Wednesday morning after reporting their latest quarterly results. Falling stocks narrowly outpaced rising ones on the New York Stock Exchange.
NEW YORK, July 23- The U.S. dollar held near eight-month highs against the euro on Wednesday as worries over tougher sanctions on Russia and their potential impact on fragile euro zone growth weighed on the single currency.
NEW YORK— The stock market eked out a record high Wednesday, as investors weighed positive earnings from the technology industry against disappointing news from Boeing and other companies. Microsoft also announced results that beat forecasts.
July 23- PepsiCo Inc reported a higher-than-expected quarterly profit and raised its full-year adjusted earnings forecast, helped by strong sales of snacks such as Lays and Doritos chips in North America. PepsiCo raised its full-year earnings per share growth forecast to 8 percent from 7 percent.
July 23- PepsiCo Inc reported a 2 percent fall in second-quarter profit as carbonated soft drink volumes declined 2 percent in North America. The company's net income fell to $1.98 billion, or $1.29 per share, in the 12 weeks ended June 14 from $2.01 billion, or $1.28 per share, a year earlier. Excluding items, PepsiCo earned $1.32 per share.