U.S. stocks closed higher Monday as investors remained confident that stimulus measures from global central banks will help spur economic growth. Gains were led by the so-called consumer discretionary sector, which includes retailers like Coach, Urban Outfitters and Gap, ahead of the crucial holiday sales season. The Dow Jones industrial average and the...» Read More
NEW YORK, July 9- The man accused of creating Silk Road, which U.S. authorities said was an online drug marketplace, lost his bid on Wednesday to dismiss a federal indictment accusing him of conspiring to deal illegal narcotics and launder money.
CHICAGO, July 9- Foster Farms and its London insurers are facing off over the definition of "product recall" as the poultry producer seeks payment of $14.2 million in claims arising from a government-mandated shutdown of one of its plants, court documents show.
NEW YORK, July 9- The U.S. dollar weakened against the euro and the yen on Wednesday after the Federal Reserve's June meeting minutes kept a dovish tone in a statement that was devoid of any large surprises. "A lot of what was said in the FOMC minutes we already knew, and we knew quite well," said John Kicklighter, senior currency strategist at DailyFX in New York.
NEW YORK, July 9- Wall Street stocks rose on Wednesday, lifting a global equities gauge as the Federal Reserve detailed its plan to allow a strengthening economy to fend for itself, while Brent fell as Libyan oil pumps came back online.
LONDON, July 9- As global watchdogs warn that euphoric financial markets are divorced from economic reality and acting out some reprise of the credit bubble and bust of the past decade, fears of another subprime timebomb are inevitable.
*Alcoa earnings top expectations; stock jumps. NEW YORK, July 9- U.S. stocks rose to session highs on Wednesday after minutes from the last Federal Reserve meeting showed the central bank has begun detailing how it will end its easy monetary policy.
WASHINGTON, July 9- The Federal Reserve has begun detailing how it plans to ease the U.S. economy out of an era of loose monetary policy, indicating it will end its asset purchases in October and appearing near agreement on a plan to manage interest rates in the future, according to minutes of the last Fed policy meeting.
PARIS, July 9- Airbus is sprinting to line up preliminary orders for a revamped version of its A330 jet and is on stand-by to make an announcement as early as next week's Farnborough Airshow, but no decision has been taken, people familiar with the matter said.
MEXICO CITY, July 9- Mexican telecoms company America Movil plans to divest assets as quickly as possible to escape tougher regulation, and it hopes to sell to a single buyer, spokesman Arturo Elias said on Wednesday.
*Russia faces threat of more sanctions. MOSCOW, July 9- Russia's economy is stagnating as data showed on Wednesday that capital worth $75 billion has left the country so far this year following sanctions on Moscow over its involvement in Ukraine.
US DOLLAR WEAKENS AGAINST EURO TO $1.3630, FALLS AGAINST YEN TO 101.64 YEN.
NEW YORK, July 9- Bookstore chain Barnes& Noble Inc has pledged to make its stores friendly to nursing mothers as part of a settlement with New York State after a woman who was breastfeeding was asked to cover herself or leave one of its locations.
July 9- Netflix Inc has acquired the exclusive U.S. video-on-demand rights for CBS Corp's drama "Zoo", set to release next summer. The full season will be available to Netflix members in the Unites States immediately after its broadcast on CBS Television Network, the companies said in a joint statement on Wednesday.
NEW YORK, July 9- U.S. stocks pared gains slightly following the release of minutes from the last Federal Reserve meeting, which said the central bank has begun detailing how it plans to ease the U.S. economy out of its easy monetary policy period.
US DOLLAR REVERSES EARLIER GAINS AGAINST EURO AND YEN TO TRADE LITTLE CHANGED AFTER FED MINUTES.
WASHINGTON, July 9- The Federal Reserve has begun detailing how it plans to ease the U.S. economy out of an era of loose monetary policy, appearing near agreement on a three-pronged strategy to manage interest rates in the future, according to minutes of the last Fed policy meeting.
US DOLLAR GAINS AGAINST EURO AND YEN AFTER FED MINUTES.
SOME PARTICIPANTS CONCERNED THAT PERSISTENT LOW INFLATION IN EUROPE AND JAPAN COULD ERODE INFLATION EXPECTATIONS- MINUTES.
MANY PARTICIPANTS WANT TO END PORTFOLIO REINVESTMENTS AT OR AFTER FIRST RATE RISE- MINUTES.
INDUSTRIES SHOWING STRONG GROWTH WERE TRANSPORT, ENERGY, TELECOM AND MANUFACTURING, PARTICULARLY MOTOR VEHICLES- MINUTES.