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  • 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.

  • Business events scheduled for the coming week Friday, 12 Feb 2016 | 2:36 PM ET

    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.

  • Griffin posts 4Q profit Friday, 12 Feb 2016 | 12:11 PM ET

    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...

  • Shkreli campaign for boss music collection rolls on Friday, 12 Feb 2016 | 11:51 AM ET

    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.

  • House backs bill to ease calorie labeling requirements Friday, 12 Feb 2016 | 11:48 AM ET

    The FDA rules will require restaurants and other establishments that sell prepared foods and have 20 or more locations to post the calorie content of food "clearly and conspicuously" on their menus, menu boards and displays. Cathy McMorris Rodgers, R- Wash., would leave the Food and Drug Administration rules requiring the labeling in place but make it easier for...

  • 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...

  • 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. "It's a strong report and it will give investors some confidence that the economy is still in relatively good shape and it will restore some...

  • Hedge fund Aurelius Capital Management issued the statement after Argentina on Thursday asked a federal judge in New York to vacate orders restricting it from servicing its restructured debts in light of last week's settlement offer by the country. Mark Brodsky, Aurelius' chairman, said given "the choice between accepting the substantial haircut we have...

  • *U.S. crude prices up 6 pct. Feb 12- Wall Street staged a modest comeback on Friday, led by a rebound in financial and energy stocks, after a punishing, widespread rout this week on concerns about the health of the global economy, and ahead of the long weekend. Prices of U.S. crude, which has been in a tailspin for more than a year, soared nearly 7 percent on Friday after the...

  • NEW YORK, Feb 12- The dollar rose against a basket of major currencies on Friday after data showed U.S. consumer spending appeared to have regained its mojo in January, backing the possibility of the Federal Reserve continuing to raise interest rates this year. "The print is suggestive of the idea that Janet Yellen is right and most of the is right in not being overly...