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Top News & Analysis New York City

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  • NEW YORK, Sept 3- U.S. services sector growth remained robust during August but backed away from a ten-year peak touched in July as new orders, employment and pricing eased month over month, an industry report showed on Thursday. The Institute for Supply Management said its services index fell to 59 last month from 60.3 in July, which was its highest since August...

  • CHICAGO, Sept 3- Metals company Alcoa Inc said on Thursday it will invest $60 million to expand its research and development center in Pennsylvania to explore ways to make 3 D printing viable on an industrial scale to produce parts for the aerospace, automotive and construction sectors. The move is part of New York- based Alcoa's strategy of investing in more...

  • *Joy Global falls after slashing full-year forecast. Sept 3- Wall Street was set to open higher on Thursday as weekly jobs data indicated a strengthening labor market, a day ahead of the more critical monthly jobs report, which may feed into the Federal Reserve's interest rate decision. Friday's monthly jobs data will be the last before the Fed meets on Sept. 16-17.

  • Sept 3- Campbell Soup Co reported an 8.6 percent fall in fourth-quarter sales, hurt by a strong dollar, weak sales of its soups and cookies, and one less week in the quarter. Sales in the global baking and snacking unit, which includes Pepperidge Farm cookies and Goldfish crackers, fell 12 percent to $553 million. Net income attributable to the company halved to $68...

  • The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share. Fourteen analysts surveyed by Zacks expected $7.03 billion. Medtronic expects full-year adjusted earnings in the range of $4.30 to $4.40 per share.

  • Sept 3- Packaged foods maker Campbell Soup Co reported an 8.6 percent fall in quarterly sales, hurt by a strong dollar and weak sales in its U.S. simple meals business. Net income attributable to the company fell to $68 million, or 22 cents per share, in the fourth quarter ended Aug. 2, from $137 million, or 43 cents per share, a year earlier. Net sales fell to $1.69 billion...

  • CHICAGO/ NEW YORK, Sept 2- The closure of two ethanol plants this week and proposed sale of a third highlight the growing challenges faced by small producers located far from cheap feedstock supplies in the U.S. The biggest producers such as No. 1 Archer Daniels Midland Co and Green Plains Inc said they have benefited this summer from better-than-expected fuel...

  • *Iceland produces enough energy to power 1.65 million homes in a year, far more than its 300,000- strong population, according to 2013 data from Iceland's energy authority and Reuters calculations. *Cables connect Iceland to the United States via Greenland and Canada, to Britain and to mainland Europe via Denmark and Germany. *Iceland plans to expand this...

  • LONDON— World stocks rose Thursday as a holiday in China gave investors a break from its torrid markets and the European Central Bank was expected to confirm its willingness to provide more stimulus to the eurozone, if needed. KEEPING SCORE: In Europe, France's CAC 40 was up 1.2 percent to 4,608.24 and Germany's DAX added 1.5 percent to 10,195.17.

  • BOSTON, Sept 2- Hedge fund mogul William Ackman, one of last year's best performers, joined a string of high profile managers in reporting deep losses for August as global markets tumbled amid fears over slower growth in China. Ackman's Pershing Square Capital Management, which makes concentrated bets on a small number of stocks, told clients on Wednesday that...

  • NEW YORK, Sept 2- Bitcoin exchange itBit has hired Daniel Alter as the company's new general counsel and chief compliance officer, the firm announced on Wednesday. "The New York State Public Officers law requires that I have a two-year recusal before I can appear before the New York Department of Financial Services on behalf of the company," said Alter, who left the...

  • NEW YORK— Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:. Tupperware Brands Corp., up $2.95 to $52. Navistar International Corp., down 75 cents to $16.61.

  • NEW YORK _ ABM Industries Inc. on Wednesday reported fiscal third-quarter profit of $1.5 million. ABM Industries expects full-year earnings in the range of $1.75 to $1.80 per share. ABM Industries shares have risen nearly 9 percent since the beginning of the year.

  • *Tech stocks lead, Netflix hit by short-sell recommendation. *Ambarella's forecast drags down GoPro. It's market volatility, it's nervousness, it's an inability to call the direction of the market, "said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.

  • BOSTON, Sept 2- An Oscar-nominated HBO documentary that showed American homeowners near hydraulic fracturing sites setting fire to their tap water may have been the main trigger for a surge in public opposition to the oil and gas production technique, according to a study to be published next month. The U.S. Environmental Protection Agency this year concluded...

  • Sept 2- Hewlett-Packard Co is exploring a sale of computer network security solutions unit TippingPoint ahead of a corporate split later this year, according to people familiar with the matter. The unit could be valued at between $200 million to $300 million, the people added. "HP has been vocal about looking to sell assets that they consider non-core, and that...

  • *Tech stock lead gainers, Netflix hit by short-sell call. *Ambarella's forecast drags on stock and GoPro. Wall Street had closed sharply lower on Tuesday, with concerns about China's economy pushing major indexes down almost 3 percent and intensifying fears of a long-term selloff.

  • Sept 2- An anchor for Fox News Channel has sued Hasbro Inc for more than $5 million over the company's sale of a plastic toy hamster that shares her name, and which she says resembles her. In a complaint filed on Monday, Harris Faulkner, who joined Fox News in 2005, called it "demeaning and insulting" for Hasbro to portray her as a rodent with its Harris Faulkner hamster,...

  • NEW YORK, Sept 2- Oil prices turned higher on Wednesday in volatile trading as rallying equities on Wall Street pulled crude up from lows after futures sank on concerns about global oversupply. "Looks like risk-on trade with a rising tide lifting all boats," John Kilduff, partner at Again Capital LLC in New York, said. Brent October crude was up 14 cents at $49.70 a...

  • WASHINGTON— While U.S. housing and auto sales showed strength over the summer, manufacturers were feeling pressure from China's economic slowdown and the oil industry was squeezed by lower energy prices. One of the Fed's regions— Cleveland— reported only slight growth. The recent stock market turbulence, triggered by worries about China's slowdown, has led...