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Top News & Analysis New Orleans

  • NEW YORK, Jan 4- A former portfolio manager at New York state's retirement fund pleaded not guilty on Wednesday to charges that he steered $2 billion in trades to two brokerages in exchange for bribes that included vacations, cocaine and prostitutes. The Common Retirement Fund is the investment arm of the New York State and Local Employees' Retirement System and...

  • Dec 29- After years of running flat out, U.S. Gulf Coast refiners are lining up repairs to plants in 2017- but facing a severe labor shortage that could delay work, drive up costs and raise accident risks. "Putting off work definitely affects the safety of the refinery," said Ed Lee, an independent refinery safety consultant who worked at Royal Dutch Shell for three...

  • NEW YORK, Dec 21- U.S. prosecutors on Wednesday accused a former portfolio manager at New York state's retirement fund, the third largest in the United States, of steering $2 billion in trades to two brokerage firms in exchange for gifts such as cash, drugs and prostitutes. Manhattan federal prosecutors announced charges centered on the New York State Common...

  • NEW YORK, Dec 21- U.S. prosecutors on Wednesday accused a former portfolio manager at New York state's retirement fund, the third largest in the United States, of steering $2 billion in trades to at least two brokerage firms in exchange for gifts such as cash, drugs and prostitutes. In the latest case, Navnoor Kang, the former director of fixed income at the New York...

  • Although legal experts think J&J faces an uphill battle, both they and investors believe the Texas jury's penalty, the largest product liability verdict so far this year, is unlikely to stand. It is the second large verdict against J&J in the Pinnacle implant litigation, which has been consolidated before U.S. District Court Judge Edward Kinkeade in Texas.

  • WASHINGTON, Dec 6- President Barack Obama's legal defense of some key initiatives including his signature healthcare law is collapsing as courts put cases on hold until after President-elect Donald Trump, hostile to the policies, assumes office on Jan. 20. They also include Obama's executive action, put on hold by the Supreme Court in June, to spare from...

  • WASHINGTON, Dec 6- The Supreme Court on Tuesday handed a victory to two whistleblower sisters by upholding a jury verdict that found State Farm defrauded the U.S. government when the insurance company assessed damage caused by Hurricane Katrina along the Gulf of Mexico coast in 2005.. The court ruled 8-0 to reject State Farm's challenge to a 2015 lower court...

  • Dec 2- A federal appeals court on Friday threw out an antitrust verdict that ordered medical device maker Becton Dickinson and Co to pay rival Retractable Technologies Inc $340 million in damages over its marketing of safety syringes. The 5th U.S. Circuit Court of Appeals in New Orleans called Retractable's claim that Becton violated the Sherman Act by trying...

  • *Commodities powerhouse has 500,000 T of idled zinc capacity. LONDON, Dec 2- Glencore is still keeping the zinc market guessing over when the company will reactivate its 500,000 tonnes of idled mine capacity. Since the Swiss commodities powerhouse first announced its intention to mothball about 4 percent of global capacity in October 2015 the London zinc...

  • LOS ANGELES/ CHICAGO, Nov 29- Scores of demonstrators were arrested on Tuesday as U.S. fast-food and airport workers led nationwide' Fight for $15' protests calling for higher pay and union rights in their first major action since Donald Trump was elected president. "needs to be held accountable for his promises," said Hector Figueroa, president of 32 BJ, a property...

  • Rallies organized by the union-backed' Fight for $15' group targeted McDonald's Corp restaurants in several major cities. Baggage handlers and janitors at Chicago's O'Hare and Boston's Logan airports also demonstrated in support of starting pay of $15 per hour. "When we started demanding $15... people thought we were crazy, but we were just demanding the basic...

  • Activist hedge fund Clinton Group, which has not disclosed the size of its holding in the small bank, first began agitating for changes early this month. A spokesman for First NBC Bank said in an emailed statement that the company was open to input from shareholders and that it had multiple discussions with the Clinton Group. "First NBC is largely aligned with...

  • AstraZeneca has scrapped a $3.5 billion-a-year sales target for failed heart drug Brilinta by 2023.

  • Sidney Torres (right) with New Orleans Mayor Mitch Landrieu.

    New Orleans entrepreneur Sidney Torres put up his own money to address his city's problems after robbers broke into his home.

  • Entrepreneur:

    Serial entrepreneur Sidney Torres IV says business leaders should step up to solve problems that the government has not.

  • Blind man sues McDonald's after denied drive-thru service

    The vision-impaired man says he was laughed at and turned away from service after walking up to the drive-thru.

  • Tee time with Justin Rose

    Justin Rose, pro golfer, discusses the upcoming PGA Zurich Classic, defending his championship crown, Olympic golf in Rio and golfing for a cause.

  • More rain to worsen 'historic' flooding event

    Forecasters predict more rain through Saturday, as millions of Americans face the threat of floods.

  • Tornadoes expected as storm approaches the Gulf Coast

    Forecasters say a powerful storm is headed to the northern Gulf Coast.

  • New Orleans Mayor Mitch Landrieu speaking August 29, 2015.

    New Orleans Mayor Mitch Landrieu has been held in contempt of court on Friday, The Times-Picayune reported.