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Top News & Analysis New York City

  • Oct 12- JP Morgan Chase. reported record net income of $5.7 billion on the back of strong business performance across the company's major business lines. Adjusting for these items, Fitch Ratings estimates JPM had pretax income of $7.7 billion vs. reported pretax income of $7.9 billion.

  • NEW YORK, Oct 12- Charges against a high-ranking Morgan Stanley banker accused of stabbing a New York City cab driver in a dispute over a long-distance fare are set to be dismissed, Connecticut police and the cabbie's attorney said on Friday. Immediately after the incident, Morgan Stanley put Jennings on leave.

  • The country's two biggest mortgage lenders, Wells Fargo and JPMorgan Chase, reported Friday that a surge in home lending pushed them to record profits. JPMorgan CEO Jamie Dimon declared that the housing market "has turned the corner." JPMorgan wrote $47 billion in mortgages, compared with $37 billion last year.

  • NEW YORK-- Ludovic Lefebvre can stomach just one more bite. After five years of LudoBites _ hugely popular guerrilla-style, short-lived eateries held mostly around Los Angeles _ Lefebvre says he is done with so-called pop-up restaurants. By the end of the year, he plans to pop up _ and stay put _ with a new and permanent Los Angeles restaurant.

  • NEW YORK, Oct 12- U.S. crude futures fell on Friday in heavy spread trading that saw the West Texas Intermediate crude's discount to international Brent narrow after it hit a one year high earlier this week. Additional pressure came from ongoing concerns about global demand. For a complete report on oil futures markets, double click on.

  • NEW YORK, Oct 12- A coalition of trade groups and businesses sued New York City on Friday, challenging Mayor Michael Bloomberg's new regulation banning the sale of large-sized sugary soft drinks in restaurants, movie theaters and other businesses.

  • NEW YORK, Oct 12- A coalition of trade groups and businesses sued New York City on Friday, challenging Mayor Michael Bloomberg's new regulation banning the sale of large-sized sugary soft drinks in restaurants, movie theaters and other businesses.

  • NEW YORK-- The price of oil dropped Friday after a new report predicted a slower pace of growth in demand for oil, overshadowing concerns about unrest in the Middle East. On the New York Mercantile Exchange:. _ Benchmark oil fell 21 cents to end at $91.86 per barrel.

  • LONDON-- A Gerhard Richter painting owned by Eric Clapton has sold for 21.3 million pounds, handily beating pre-sale estimates and setting a new auction record for the German abstract artist.

  • HARTFORD, Conn.-- Documents filed in the criminal case against a Venezuelan-American financier say losses from a Connecticut- based fraud scheme could total as much as $600 million.

  • NEW YORK-- Soda makers, restaurateurs and other businesses sued Friday to try to block the city's unprecedented move to restrict sales of super-sized, sugary drinks, an effort the city called a coup for public health but the industry views as unfair and undemocratic.

  • NEW YORK, Oct 12- U.S. stock funds are starting the fourth quarter on a rough note, recording their second consecutive week of outflows with $2.65 billion in net redemptions, data from EPFR Global showed on Friday.

  • NEW YORK, Oct 12- Bond speculators pared their bullish bets on U.S. Treasuries futures early this week after September payroll data showed the jobless rate fell to its lowest since January 2009, according to Commodity Futures Trading Commission data released on F rid ay.

  • NEW YORK, Oct 12- Currency speculators pared bets against the U.S. dollar for a second straight week to their lowest level in a month, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net short position slid to $6.43 billion in the week ended Oct. 9, from a net short of $16.31 billion the previous week.

  • NEW YORK/ WASHINGTON, Oct 12- U.S. regulators granted a last-minute reprieve to CME Group Inc and big energy traders on Friday, giving them until the end of the year to convert billions of dollars in commodity swaps to futures contracts.

  • *Worries persist over whether Spain will request aid. Treasuries prices advanced on Friday as data showed muted underlying U.S. inflation, with investors looking ahead to a key European Union leaders' summit, a possible bailout request from Spain and more data in the coming week.

  • NEW YORK-- Analysts expect that Mattel Inc.' s third-quarter net income and revenue to rise as shoppers snap up its Monster High and Barbie dolls, among other toys, ahead of the busy holiday season.

  • NEW YORK, Oct 12- U.S. stocks posted their worst week in four months, led lower on Friday by financial shares as results from Wells Fargo and JPMorgan ignited concerns about shrinking profit margins for big lenders. The Nasdaq Composite Index shed 5.30 points, or 0.17 percent, to close unofficially at 3,044.11.

  • *Turkey- Syria tensions, lower N. Sea output support. Expectations of a looser market weighed on prices after a report by the International Energy Agency's forecast higher supplies and declining oil consumption after concerns about North Sea oil supplies and Middle East tensions supported Brent for most of the week.

  • NEW YORK, Oct 12- Currency speculators further pared bets against the U.S. dollar for a second straight week to their lowest level in a month, according to data from the Commodity Futures Trading Commission released on Friday.