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  • NEW YORK, Feb 12- U.S. The Commerce Department said retail sales excluding automobiles, gasoline, building materials and food services increased 0.6 percent last month after an unrevised 0.3 percent decline in December. "The upbeat retail numbers provided a rebound and the fear-trade we saw all week seems to have moved on for now," said Kathy Jones, chief fixed...

  • NEW YORK— What are Facebook's rules for posting nude images? The question is at the forefront again after a French court ruled Friday that a French art teacher can sue the social media service after it suspended his Facebook account. The latest community-standards policy, from March 2015, says Facebook restricts photos of genitals or fully exposed buttocks, as...

  • NEW YORK— Shares of the Pandora Media plummeted Friday, a day after the Internet radio company reported fourth-quarter earnings that fell short of Wall Street expectations. With that service, Pandora faces increasing competition for users from Spotify, Apple Music and other streaming services, said BTIG Research analyst Richard Greenfield in a note to...

  • NEW YORK/ SAN FRANCISCO, Feb 12- Alphabet Inc's Google will not participate in the U.S. Federal Communications Commission's upcoming auction of broadcast airwaves for wireless industry use, a spokeswoman told Reuters on Friday. Google last participated in a 2008 FCC auction but did not buy any airwaves.

  • NEW YORK, Feb 12- The Bank of Japan designed its new negative interest rates to avoid hurting bank profits, and the recent drop in bank stocks is "overdone," the BOJ's deputy governor said on Friday in what amounted to a defense of last month's shock policy decision. Hiroshi Nakaso, seeking to explain the move to bankers and investors in New York, said that while a key...

  • NEW YORK/ SAN FRANCISCO, Feb 12- Alphabet Inc's Google will not participate in the U.S. Federal Communications Commission's upcoming auction of broadcast airwaves for wireless industry use, a spokeswoman told Reuters on Friday. The FCC's deadline for interested bidders to file applications to participate in the auction ended on Wednesday.

  • WASHINGTON— The Federal Reserve of New York releases its February survey of manufacturers, 8:30 a.m.. WASHINGTON— Labor Department releases the Producer Price Index for January, 8:30 a.m.; Commerce Department releases housing starts for January, 8:30 a.m.; Federal Reserve releases industrial production for January, 9:15 a.m.; Federal Reserve releases...

  • NEW YORK— Federal prosecutors in Brooklyn say a Florida man has been sentenced to 3½ years in prison after admitting he defrauded over 70 investors of $3.3 million. Attorney Robert Capers announced Friday that the sentencing of 54- year-old Cecil Speight of West Palm Beach had occurred late Wednesday. Judge Roslynn Mauskopf also ordered him to pay $3.3...

  • Intercept's shares rose as much as 37 percent after the news and were trading up 33 percent at $124.88 Friday afternoon in New York, giving the company a market capitalization of around $3 billion. Share prices of the New York- based drug maker, which went public in 2012, had before Friday's rally declined nearly 70 percent from a high in 2015 near $315, in part due to...

  • NEW YORK— A court-appointed mediator reported more progress Friday in efforts by Argentina to resolve a dispute with bondholders who claim they are owed about $10 billion by the financially strapped South American nation. Last week, Argentina offered bondholders a $6.5 billion deal to settle cases stemming from its 2001 default. Among others, billionaire...

  • WASHINGTON, Feb 12- U.S. consumer spending regained momentum in January as households ramped up purchases of a variety of goods, in a hopeful sign that economic growth was picking up after slowing to a crawl at the end of 2015.. "The markets may have decided that the U.S. is headed for recession, but obviously no one told U.S. consumers," said Paul Ashworth, chief...

  • Feb 12- BlackRock Inc's $1.9 billion Obsidian hedge fund recorded losses in January, suffering its worst start to the year in its nearly 20- year history, but the fund was narrowing those losses so far in February. Through Jan. 31, the fund posted a negative 4 percent return, according to an estimate the hedge fund provided to investors, a copy of which was seen by...

  • *Market lifted by UAE comments on potential coordinated OPEC cut. NEW YORK, Feb 12- U.S. crude prices jumped more than 10 percent on Friday after a report once again suggested OPEC might resort to a production cut to reduce the world glut, and resilient stock markets added to the risk appetite in oil. The UAE's comments, coming after vain efforts earlier in the week by...

  • NEW YORK, Feb 12- As Wall Street struggles to find its footing after a shaky start to the year, investors are not getting any solace from corporate earnings. The S&P 500 has lost about 9 percent since Dec. 31. "We're not going in the right direction in terms of earnings," said Daniel Morgan, senior portfolio manager at Synovus Trust Company in Atlanta, Georgia.

  • NEW YORK _ Griffin Land& Nurseries Inc. on Friday reported fiscal fourth-quarter earnings of $164,000. The New York- based company said it had net income of 3 cents per share. For the year, the company reported net income of $425,000, or 8 cents per share, swinging to a profit in the period.

  • *Market lifted by UAE comments on potential coordinated OPEC cut. NEW YORK, Feb 12- U.S. crude prices jumped 12 percent on Friday after a report once again suggested OPEC might resort to a production cut to reduce the world glut, and resilient stock markets and the euro added to the risk appetite in oil. The UAE's comments, coming after vain efforts earlier in the week...

  • After spending $2 million for the sole copy of Wu-Tang Clan's "Once Upon a Time in Shaolin" late last year, the 32- year-old former hedge fund manager is now offering $10 million to become the sole owner of Kanye West's new album. Shkreli said in a separate tweet that West and his label, Universal Music Group, are legally required to take his offer to their board.

  • NEW YORK, Feb 12- The dollar rose on Friday after data showed U.S. consumer spending appeared to have regained its mojo in January, supporting the possibility of the Federal Reserve continuing to raise interest rates this year. Retail sales excluding automobiles, gasoline, building materials and food services increased 0.6 percent last month, according to a...

  • NEW YORK, Feb 12- U.S. and European shares rebounded from recent weakness on Friday, with reassuring U.S. retail sales data boosting sentiment, while U.S. crude prices rallied from more than 12- year lows. Banking shares in the United States and Europe spiked, with the S&P financial index last up 2.9 percent and the STOXX 600 Europe Banks index gaining 4.7 percent.

  • Feb 12- A printer cartridge reseller infringed the patent rights of Lexmark International Inc when it imported Lexmark's toner products back into the United States after they were first sold abroad, a U.S. appeals court ruled on Friday. Though the case was about laser printer cartridges, the decision by the U.S. Court of Appeals for the Federal Circuit in...