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Top News & Analysis New York City

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  • NEW YORK, Aug 27- Two former Rabobank traders urged a U.S. judge on Thursday to dismiss an indictment accusing them of engaging in a scheme to manipulate Libor, the benchmark interest rate at the center of a global investigation into misconduct at several banks. Lawyers for Anthony Allen and Anthony Conti told a Manhattan federal judge that prosecutors could not...

  • But the stock climbed further after the billionaire investor disclosed the stake in a filing with the U.S. Securities and Exchange Commission, and said that he plans to speak with Freeport and may seek board representation. Freeport is undervalued, Icahn said in the filing, and he intends to address "executive compensation practices and capital structure as...

  • NEW YORK, Aug 27- Caesars Entertainment Corp on Thursday moved a step closer toward a possible trial with bondholders, as a Manhattan federal judge refused to hold the gaming company liable to help repay $7 billion of debt owed by its main operating unit. District Judge Shira Scheindlin rejected requests by bond trustees BOKF NA and UMB Bank NA that Caesars be...

  • After Fogle began talking about paying for sex with minors, the lawyer said Mills alerted a regional Subway contact in Florida where her stores were based. Subway had little say in the fund, but gained control of it in 2010 after a lawsuit, he said. Subway did not respond to a request for comment late Thursday.

  • Aug 27- Wall Street rallied more than 2 percent on Thursday as strong U.S. economic data and hints that a September interest-rate hike was unlikely fueled optimism that the worst of recent market turmoil was over. "The worst is probably behind us but it's going to take a while before we get back to normal and we might still see some downward risk," said Scott Brown,...

  • NEW YORK— For the first time, a billion people used Facebook in a single day on Monday. CEO Mark Zuckerberg marked the occasion with a post on his Facebook page, saying that one out of seven people on Earth logged in to the social network to connect with their friends and family. Most people on Facebook live outside the U.S. and Canada.

  • NEW YORK— Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market:. St. Jude Medical Inc., up $3.09 to $72.43. Tiffany& Co., down $1.79 to $83.29.

  • NEW YORK, Aug 27- Most U.S. Treasuries prices were modestly lower on Thursday, as a rally on Wall Street and a surprisingly large upward revision on U.S. economic growth in the second quarter revived some bets the Federal Reserve would raise rates by year-end. The Commerce Department said U.S. gross domestic product grew at a 3.7 percent annual pace in the quarter...

  • NEW YORK _ Aeropostale Inc. on Thursday reported a loss of $43.7 million in its fiscal second quarter. The average estimate of eight analysts surveyed by Zacks Investment Research was also for a loss of 56 cents per share. For the current quarter ending in November, Aeropostale expects its results to range from a loss of 38 cents per share to a loss of 30 cents per...

  • NEW YORK— When it seems like the stock market has lost its mind, big banks and investment firms often turn to one particular psychiatrist: Richard Peterson, CEO of MarketPsych, a firm that applies research from behavioral science to financial markets. MarketPsych's computer programs attempt to gauge the market's mood by scanning news and Twitter and other...

  • District Judge Joseph Irenas in Camden, New Jersey on Wednesday said claims against Whole Foods, Wegmans Food Markets Inc and Acme Markets Inc were too vague, because the plaintiffs did not show they overpaid for specific goods in response to specific signs or advertising from the defendants. Shoppers complained that the grocers sold frozen, pre-made, and...

  • NEW YORK, Aug 27- Oil rocketed more than 10 percent higher on Thursday, posting its biggest one-day rally in over six years as recovering equity markets and news of diminished crude supplies set off a short-covering scramble by bearish traders. The rally was aided by news of a force majeure on Nigerian oil exports declared by Shell and private data indicating...

  • Aug 27- The billionaire chief executive of Dole Food Co and his top lieutenant must pay $148.2 million of damages to shareholders they shortchanged when the produce company went private in 2013, a Delaware judge ruled on Thursday. In a decision that may cast a pall on management-led buyouts, Vice Chancellor Travis Laster said Dole Chief Executive David...

  • The decision could have broader implications for unions that have struggled to organize workers at fast-food restaurants, which are often run by franchisees who consider themselves small business owners, but pay fees and adhere to standards set by companies like Wendy's and Yum Brands, which owns KFC, Pizza Hut and Taco Bell. In its decision, the National Labor...

  • NEW YORK, Aug 27- Stock around the world rallied on Thursday, shaking off a slump related to China growth fears, as strong U.S. economic data boosted investor sentiment and crude oil rebounded sharply. All three major U.S. indexes were up less than 1 percent in afternoon trade, trimming earlier gains, following share rebounds in China and Europe.

  • NEW YORK— Oil soared more than 10 percent Thursday, its biggest one-day gain since March 2009, lifted by resurgent global stock markets and a report showing the U.S. economy grew faster than previously reported in the second quarter. U.S. oil rose $3.96, or 10.3 percent, to $42.56 in New York. "One up day in a sea of consistent summer selling does not make for an imminent...

  • NEW YORK— Sprint is offering DirecTV customers one free year of cellphone service in a bold move aimed at the satellite TV company's new owner, AT&T. AT&T, which bought DirecTV for $48.5 billion in July, has been promoting a bundle that knocks $10 a month off a combined bill for video and wireless phone service. For a single line, the value of Sprint's promotion is...

  • NEW YORK— Do the stock market's big swings have you feeling helpless? Although you can't control what happens in Shanghai-- or the fact that troubles in China can drag down stocks here by 10 percent in just over a week-- you do have control over one crucial factor affecting your portfolio: how much you pay in expenses. They paid an average of $54 in fees for every $10,000...

  • NEW YORK, Aug 27- Oil rocketed more than 8 percent higher on Thursday, posting its biggest one-day rally in years, as recovering equity markets and news of diminished crude supplies set off a short-covering surge by bearish traders. The rally was aided by news of a force majeure on Nigerian oil exports declared by Shell and private data indicating more drawdowns...

  • NEW YORK— Twitter's most urgent task is naming a new CEO. But the most formidable one is convincing more people that its service is essential, easy to use and not just meant for celebrities, 16- year-olds and news junkies. To help with the latter, there are big promotions, such as last year's World Cup push and this year's expanded content and advertising deal with the...