Jan 28- KCG Holdings Inc said it will sell its foreign exchange trading platform, KCG Hotspot, to BATS Global Markets for $365 million in cash. Regulators in Britain are probing the $5 trillion- a-day foreign exchange market following allegations that bank traders used advance knowledge of client orders to try to manipulate foreign exchange benchmarks.» Read More
PROVIDENCE, R.I.-- Gasoline prices in Rhode Island have dropped by two cents in the past week. Costs for fuel in Rhode Island have dropped four cents in the past month. A year ago, gas cost $3.55 a gallon in Rhode Island.
BOSTON-- Gas prices have dropped five cents per gallon in Massachusetts in the past week. AAA Southern New England reported Monday that a gallon of self-serve, regular is selling for an average of $3.83. The prices in the latest survey ranged from a low of $3.66 to a high of $3.99.
PROVIDENCE, R.I.-- A tax amnesty program in Rhode Island has generated more than $4.1 million in payments from people behind on their taxes. The state Division of Taxation said Monday that it has received 1,933 applications since the amnesty period began Sept. 2.
NEW YORK-- Citigroup isn't as enthusiastic as its peers about a comeback in the housing market. On Friday, executives at Wells Fargo and JPMorgan Chase declared that the long-struggling market had turned a corner.
EDINBURGH, Scotland-- Scotland moved a step closer Monday to a vote on independence after Scottish and British leaders signed a deal laying the groundwork for a popular referendum that could radically alter the shape of the United Kingdom.
NEW YORK-- THE LAWSUIT: Morgan Stanley is being accused of discriminating against black homeowners and violating federal civil rights laws by providing strong incentives to a subprime lender to originate mortgages that were likely not to be repaid. Morgan Stanley says the allegations are without merit and that it will defend itself against the accusations.
NEW YORK-- GIVE ME CREDIT: Amazon.com Inc. has informed its Kindle customers that they may receive a credit on previous electronic book purchases as part of settlements between some major e-book publishers and the government.
Shares of Eli Lilly and Co. started the week strong after the drug developer said Monday a potential stomach cancer treatment met goals for improved patient survival and progression-free survival in a late-stage study that compared it to a dummy treatment.
ST. PAUL, Minn.-- A 3 M Co. subsidiary launched a tender offer Monday for all outstanding shares of common stock of Ceradyne Inc. as part of the office supply company's plan to buy the ceramic components maker. 3 M, which makes Post-It notes and other products, announced in September that it was buying Ceradyne for $847 million.
General Electric and Military Families at Syracuse University are developing a reference guide that employers can use to help them more effectively recruit and mentor veterans.
NEWARK, N.J.-- New Jersey Transit will stop providing free rides for some employees and retirees. NJ Transit says the move could bring in an additional $1.6 million annually. Similar measures have been approved by the New Jersey Turnpike Authority, Delaware River Port Authority and Port Authority of New York and New Jersey.
LONDON-- Britain's Serious Fraud Office has ended an investigation of Iceland's Kaupthing bank after concluding there was insufficient evidence to justify extending the three-year probe.
COLUMBIA, S.C.-- The agency that tracks South Carolina's unemployment rate is downsizing. The Department of Employment and Workforce said Monday it would cut more than 130 jobs statewide. South Carolina's jobless rate held fast at 9.6 percent in August, essentially remaining the same as in July.
BELLEVUE, Wash.-- The AAA auto club reports the average price of a gallon of gasoline in Washington is $4.10. That's the same as a week ago and 4 cents higher than a month ago. Bellingham $4.20, Bremerton $4.10, Seattle- Bellevue- Everett $4.13, Tacoma $4.11, Olympia $4.14, Vancouver $4.10, Yakima $4.02, Tri-Cities $3.99, and Spokane $3.92.
LONDON-- Upbeat signs from the world's two largest economies propped up markets Monday, at the start of a week that could offer greater clarity on the economic fates of Greece and Spain.
GALVESTON, Texas-- Galveston had a record $8.4 million in peak-season tourism revenue this year in a continuing turnaround since Hurricane Ike battered the Southeast Texas island. The Galveston County Daily-News reported Monday that officials believe a $100,000 marketing campaign called "It's Island Time" contributed to the increase.
NEW YORK-- Chinese plant and animal feed maker Yongye International said Monday that a group including its CEO is offering to take the company private.
NASHVILLE, Tenn.-- Wellness program administrator Healthways Inc. said Monday it received a contract with a health plan that covers Tennessee state and local government employees and their families. Healthways did not disclose terms of the agreement, but said it will create 100 new jobs in Tennessee.
In morning trading, benchmark crude oil is down 1.9 percent, or $1.71, at $90.15. The Commerce Department says retail sales rose 1.1 percent last month. On Friday, the International Energy Agency issued a new report predicting slower growth in demand for oil over the next five years.
NEW YORK-- An analyst for BMO Research on Monday raised his rating on CostCo Wholesale Corp., saying he's less worried about high costs hurting the company's profitability. He had been concerned about Costco's gross margin rate, or profitability. The rate has been hurt as costs for stocking shelves have increased for Costco and other big-box retailers.