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Top News & Analysis New York City

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  • MANILA, July 30- Gold hovered not far from a 5-1/ 2- year low early on Thursday after the Federal Reserve said the U.S. economy and job market continue to strengthen, supporting a possibile interest rate rise when the Fed meets again in September. *Spot gold was flat at $1,096.75 an ounce by 0036 GMT. It sank to as low as $1,077 last week, its weakest since February 2010,...

  • NEW YORK _ Moelis& Co. on Wednesday reported second-quarter net income of $7.1 million, after reporting a loss in the same period a year earlier. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share. Moelis shares have dropped 20 percent since the beginning of the year.

  • NEW YORK, July 29- A former employee of a major Silicon Valley law firm was sentenced to two years in prison on Wednesday for illegally trading ahead of mergers that were underway at the firm. Braverman, an immigrant from Ukraine who lives in San Mateo, California, in court apologized for his conduct while employed in Wilson Sonsini Goodrich& Rosati's information...

  • NEW YORK— A former software engineer at a prominent California law firm was sentenced Wednesday to two years in prison for insider trading by a judge who noted that he should have realized the dangers of what he was doing when one of his firm's lawyers was arrested on the same charges in a separate prosecution. District Judge Paul A. Engelmayer in Manhattan told...

  • NEW YORK _ Empire State Realty Trust Inc. on Wednesday reported a key measure of profitability in its second quarter. The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 22 cents per share. Three analysts surveyed by Zacks expected $111.2 million.

  • July 29- Whole Foods Market Inc on Wednesday said same-store sales growth cooled again in the third quarter, hurt by competition and an overcharging scandal in its New York City stores, and its shares tumbled 11 percent in after-hours trade. The rapid deceleration is troubling for investors, who have wondered how long Whole Foods could maintain its grip on the...

  • The New York- based real estate investment trust said it had funds from operations of $41.5 million, or 31 cents per share, in the period. The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of 31 cents per share. Five analysts surveyed by Zacks expected $87.8 million.

  • NEW YORK, July 29- Dozens of retailers are seeking to void nearly $6 billion of U.S. antitrust settlements with Visa Inc, MasterCard Inc and American Express Co after learning that opposing lawyers exchanged confidential information, potentially tainting the accords. A group of retailers filed papers that remain under seal in the Brooklyn, New York federal...

  • July 29- PartnerRe Ltd, the reinsurance company that has a $6.6 billion merger agreement with Axis Capital Holdings, is now willing to negotiate a new deal with rival suitor Exor SpA, according to people familiar with the matter. This would be the first time that Bermuda- based PartnerRe negotiates a potential merger with Exor since the Italian investment...

  • NEW YORK _ MetLife Inc. on Wednesday reported second-quarter profit of $1.12 billion. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.47 per share. MetLife shares have climbed nearly 6 percent since the beginning of the year, while the Standard& Poor's 500 index has increased slightly more than 2 percent.

  • Facebook and Whole Foods fall after the bell following reports. *General Dynamics' report sparks rally in aerospace stocks. July 29- U.S. stocks finished stronger on Wednesday after the U.S.

  • NEW YORK— Facebook is attracting advertising dollars to where its users are— on mobile devices. The world's largest online social network surpassed expectations on all fronts in the second quarter. "Once again Facebook has proven its ability to attract and retain users," said Forrester Research analyst Nate Elliott.

  • July 29- Demand for power in New York and New England was expected to reach the highest level so far this year as air conditioners get cranked up this week to deal with the heat wave blanketing the U.S. Next-day power prices in New England on the IntercontinentalExchange slipped from $61.32 per megawatt hour for Wednesday, the highest since March, to $58.88 for...

  • NEW YORK— Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:. Yelp Inc., down $8.45 to $25.06. Twitter Inc., down $5.30 to $31.24.

  • NEW YORK— Whole Foods is feeling pinched after New York City officials found it was overcharging customers. Robb said that "nobody gets it 100 percent right" when it comes to weights and measurements in the grocery industry, but that Whole Foods was nevertheless taking steps to prevent overcharging going forward. "We're not sure why Whole Foods was singled out for...

  • WASHINGTON, July 29- Boeing Co Chairman Jim McNerney on Wednesday said the aircraft maker was actively considering moving "key pieces" of its operations to other countries given the uncertainty of the future of the Export-Import Bank, whose charter expired on June 30. Its charter lapsed after conservatives in the U.S. Congress cast it as a promoter of "crony...

  • BRASILIA, July 29- Finance Minister Joaquim Levy's role as Brazil's dominant economic policymaker is slipping as he tries to push through unpopular austerity measures aimed at saving the country's investment grade rating. To make things worse, Standard& Poor's on Tuesday threatened to strip Brazil of its coveted investment-grade rating, raising pressure...

  • NEW YORK, July 29- The dollar rose modestly against a basket of currencies on Wednesday as the Federal Reserve upgraded its view of the labor market, supporting some traders' opinion that it would raise benchmark U.S. interest rates, perhaps as early as September. Although inflation has remained below the Fed's 2 percent target and overseas developments...

  • DETROIT, July 29- Fiat Chrysler Automobiles NV will face a shortage of new products in North America over the next 18 months, especially hot-selling trucks and crossover vehicles, according to three sources familiar with the company's plans. While the Italian-American automaker said it will bring three new sports models from Italy to the United States in the...

  • *Fed leaves interest rates unchanged. NEW YORK, July 29- U.S. "It looks like from the statement they slightly upgraded their language on the labor market," said Shyam Rajan, head of U.S. interest rate strategy at Bank of America Merrill Lynch.