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Top News & Analysis New York City

  • NEW YORK, Feb 23- The former chief executive officer of Comverse Technology Inc, who returned to the United States last year after spending a decade in Namibia to avoid prosecution, is scheduled to be sentenced on Thursday for engaging in securities fraud. Jacob "Kobi" Alexander, the Woodbury, New York- based software developer's founder, is expected to be sentenced...

  • LONDON— Barclays Group says it will complete its restructuring six months earlier than planned as it sheds risky assets and focuses on consumer, corporate and investment banking in New York and London. Barclays now plans to close its non-core unit at the end of June after reducing its stake in Barclays Africa to 12.2 percent and agreeing to legally separate the...

  • *LME gold, silver contracts to launch on June 5. LONDON, Feb 23- The London Metal Exchange has reached a 50:50 revenue-sharing deal with a company founded by a group of banks to promote trade in its new gold futures contracts, sources said, aiming to overcome market skepticism surrounding their launch in June. But in this case, the LME has opted for a radical departure...

  • NEW YORK— A wealthy former CEO who dodged securities fraud charges for a decade by fleeing to Africa is facing sentencing in New York City. Jacob "Kobi" Alexander is due in federal court in Brooklyn on Thursday. He was in Israel and negotiating a possible surrender when he vanished in 2006..

  • The United States should expect a "strong slap in the face" if it underestimates Iran's defensive capabilities, a commander of the elite Revolutionary Guards says, as Tehran concludes war games. Mexico reacts with anger to what one official calls "hostile" new U.S. immigration guidelines as senior Trump administration envoys begin arriving in Mexico City for...

  • Feb 23- Gold prices held steady on Thursday as the U.S. dollar firmed following overnight losses after the release of minutes from the last U.S. *Spot gold had crept down 0.1 percent to $1,236.30. per ounce at 0109 GMT, while U.S. gold futures rose 0.4.

  • NEW YORK, Feb 22- Jeffrey Ubben, the chief executive officer of activist investor ValueAct Capital, told Reuters on Wednesday that his firm had been taking money out of the capital markets as valuations have become overextended, leaving it with $3 billion in cash. ValueAct, based in San Francisco, manages around $16 billion. The fund's largest holding is a $2.4...

  • The San Francisco- based company, which is run by Twitter Inc Chief Executive Jack Dorsey, posted a quarterly loss of 4 cents per share on revenue of $452 million. Analysts on average had expected a loss of 9 cents per share on revenue of $450 million, according to Thomson Reuters I/B/E/S. Chief Financial Officer Sarah Friar said growth was boosted by business from...

  • NEW YORK, Feb 22- Jeffrey Ubben, the chief executive of activist investor ValueAct Capital, told Reuters on Wednesday that his firm had been taking money out of the capital markets as valuations have become overextended, leaving it with $3 billion in cash. ValueAct, based in San Francisco, manages around $16 billion. The fund's largest holding is a $2.4 billion...

  • NEW YORK _ Solar Senior Capital Ltd. on Wednesday reported fourth-quarter net income of $6 million, after reporting a loss in the same period a year earlier. The New York- based company said it had profit of 37 cents per share. For the year, the company reported profit of $24.3 million, or $1.88 per share.

  • NEW YORK _ Solar Capital Ltd. on Wednesday reported fourth-quarter net income of $17.8 million, after reporting a loss in the same period a year earlier. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 42 cents per share. Solar Capital shares have climbed 7 percent since the beginning of the year.

  • NEW YORK _ Iconix Brand Group Inc. on Wednesday reported a loss of $297.5 million in its fourth quarter. The New York- based company said it had a loss of $5.30 per share. Iconix expects full-year earnings in the range of 70 cents to 85 cents per share, with revenue in the range of $350 million to $365 million.

  • NEW YORK _ Alleghany Corp. on Wednesday reported fourth-quarter profit of $69.5 million. The New York- based company said it had profit of $4.50 per share. For the year, the company reported profit of $460.7 million, or $29.59 per share.

  • FORT WORTH, United States- Dallas Fed President Robert Kaplan participates in a moderated Q&A session hosted by the Tarrant County Bankers Association- 1800 GMT. LONDON- ECB Board Member Peter Praet to deliver a keynote speech at the "Brexit and the implications for financial services" conference- 0855 GMT. LONDON- ECB Board Member Peter Praet to give...

  • FORT WORTH, United States- Dallas Fed President Robert Kaplan participates in a moderated Q&A session hosted by the Tarrant County Bankers Association- 1800 GMT. LONDON- ECB Board Member Peter Praet to deliver a keynote speech at the "Brexit and the implications for financial services" conference- 0855 GMT. LONDON- ECB Board Member Peter Praet to give...

  • NEW YORK, Feb 22- Jeffrey Ubben, the chief executive of ValueAct Capital, told Reuters on Wednesday that his firm has been disinvesting in the capital markets as valuations have become overextended, leaving it with $3 billion in cash. ValueAct, based in San Francisco, manages around $16 billion. The fund's largest holding is a $2.4 billion stake in Microsoft Corp,...

  • NEW YORK _ Empire State Realty Trust Inc. on Wednesday reported a key measure of profitability in its fourth quarter. The New York- based real estate investment trust said it had funds from operations of $74.2 million, or 25 cents per share, in the period. The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of...

  • PALO ALTO, Calif.— Kenneth J. Arrow, the youngest-ever winner of a Nobel prize for economics, whose theories on risk, innovation and the basic mathematics of markets have influenced thinking on everything from voting to health insurance to high finance, has died. Arrow died Tuesday at his home in Palo Alto, in the San Francisco Bay Area, according to his son, David Arrow.

  • NEW YORK _ Paramount Group Inc. on Wednesday reported a key measure of profitability in its fourth quarter. The real estate investment trust, based in New York, said it had funds from operations of $40.6 million, or 18 cents per share, in the period. The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 20 cents...

  • Paramount parent Viacom said they are searching for a new CEO. The move comes after media mogul Sumner Redstone's National Amusements in December abandoned a proposal that CBS and Viacom reunite after a 10 year split. Viacom had also been considering selling a stake in Paramount but that was called off too.