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Top News & Analysis New York City

  • *Doubts over OPEC effectiveness despite Saudi comments. NEW YORK, April 26- Oil prices rebounded from earlier losses on Wednesday after data showed a larger-than-expected falloff in U.S. crude inventories, a salve for investors after several days of declines founded on worries about the slow pace of global efforts to reduce a glut. The U.S. Energy Department...

  • The company's after-tax cash flow increases by $70 million for every $1 per barrel increase in oil prices, he said. Shares of the New York- based company rose 4.4 percent to $50.78 in morning trading. Excluding output from Libya, Hess produced 307,000 barrels of oil equivalent per day in the first quarter ended March 31, lower than 350,000 boepd a year ago.

  • April 26- U.S. crude oil inventories fell sharply and stockpiles of gasoline and distillates jumped last week as refineries hiked production rates to the highest since November 2015, the Energy Information Administration said on Wednesday. After the data, U.S. crude futures turned positive and by 11:06 a.m., were up 34 cents at $49.90 a barrel while Brent crude...

  • NEW YORK, April 26- Equities in major markets touched a record for a third straight session on Wednesday as U.S. shares rose on strong earnings and the prospect of tax cuts, while the euro pulled back after two days of strong gains. President Donald Trump's effort to craft a tax package that can pass Congress, described the plan as the "the biggest tax cut" in U.S. history...

  • NEW YORK, April 26- The U.S. dollar strengthened broadly on Wednesday, with the currency hitting nearly four-week highs against the yen, on anticipation that a promised White House announcement on tax reform could boost the greenback. The dollar jumped to 111.73 yen, its highest level so far this month, while the euro was last down 0.5 percent against the greenback...

  • April 26- Shares of Twitter Inc soared on Wednesday after the microblogging service reported better-than-expected user growth in the first quarter, although its revenue fell for the first time since the company's market debut. The surprising acceleration followed several quarters of stalled user growth that raised questions about Chief Executive Jack...

  • NEW YORK, April 26- JPMorgan Chase& Co is not liable to a group of former customers of Bernard Madoff who blamed the bank for being actively involved in his Ponzi scheme and ignoring red flags of fraud, a federal appeals court ruled on Wednesday. The 2nd U.S. Circuit Court of Appeals in Manhattan said the customers failed to show that JPMorgan had enough "control" over...

  • focus@ NEW YORK, April 26- U.S. Treasury prices were little changed on Wednesday after paring steep losses sustained in the last few sessions, as investors looked to President Donald Trump's announcement on tax reform later in the day, with some market participants remaining skeptical that it can get done. "Yesterday afternoon, the broad strokes of the tax reform...

  • April 26- Anthem Inc, which has 1.1 million customers in individual Obamacare plans, said it is moving ahead with its 2018 insurance filings but telling state regulators that it could increase premiums sharply and exit some markets. President Donald Trump and Republican lawmakers have vowed to overhaul the Affordable Care Act, which is often called Obamacare,...

  • NEW YORK— Halfway through Valentine's Day, florist Ajay Kori realized he was in the midst of a disaster. When a small business has a crisis, it can in some ways be more vulnerable than a behemoth like United Airlines, which got plenty of attention this month after video of a passenger being dragged off a plane went viral. Kori knew he had to move quickly to limit the...

  • April 26- Shares of Twitter Inc soared in premarket trade on Wednesday after the microblogging service reported better-than-expected user growth. Twitter shares were up 11 percent at $16.25 in premarket trade on Wednesday. And there is a global thirst for news and information that they are benefiting from, "said BTIG analyst Richard Greenfield.

  • NEW YORK— Stock markets around the world made only modest moves on Wednesday, waiting to see what the White House has in store for U.S. tax policy. The White House is expected to unveil its first tax proposal this afternoon, and officials have described it as "the biggest tax cut" in U.S. history, though the announcement is likely to include only broad outlines and few...

  • NEW YORK— Coke's flagship cola is being sold as a health drink of sorts in Japan, with a version that promises to deliver fiber. The company noted the launch of Coca-Cola Plus in Japan during a call Tuesday, as well as Canada Dry Plus that has fiber. Drinks promising health benefits are common in Japan.

  • Federal Communications Commission (FCC) Commissioner Ajit Pai.

    The internet industry, which considers net neutrality essential for its business, isn't giving up without a fight.

  • April 26- Shares of Twitter Inc soared in premarket trade on Wednesday after the microblogging service reported better-than-expected user growth. Twitter shares were up 11 percent at $16.25 in premarket trade on Tuesday. And there is a global thirst for news and information that they are benefiting from, "said BTIG analyst Richard Greenfield.

  • April 26- Shares of Twitter Inc soared in premarket trade on Wednesday after the microblogging service reported better-than-expected user growth. Twitter shares were up 11 percent at $16.25 in premarket trade on Tuesday. And there is a global thirst for news and information that they are benefiting from, "said BTIG analyst Richard Greenfield.

  • April 26- No. 2 U.S. health insurer Anthem Inc reported much higher-than-expected quarterly earnings and revenue after it raised premiums on Obamacare individual plans, a market President Donald Trump and Republican lawmakers have vowed to overhaul. Anthem's net income rose to $1.01 billion, or $3.73 per share, in the first quarter from $703 million, or $2.63...

  • The results showed a "solid quarter" for the company, "which should continue to support the stock at current levels," Peter Arment, an analyst at Baird Equity Research, wrote in a note. The company on Wednesday reported 30 percent growth of new orders in Europe, a sign of strengthening economic conditions, Chief Financial Officer Akhil Johri said in an interview.

  • *Schonfeld representatives held meetings in London- sources. LONDON/ NEW YORK April 26- Multibillion-dollar U.S. hedge fund investor Schonfeld Strategic Advisors is in preliminary talks to open an office in Britain to invest in more European money managers, two sources with direct knowledge of the matter told Reuters. Representatives from Schonfeld, which...

  • NEW YORK _ Hess Corp. on Wednesday reported a loss of $324 million in its first quarter. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of $1.10 per share. This story was generated by Automated Insights using data from Zacks Investment Research.