Top News & Analysis New York City

  • SAN FRANCISCO, Oct 10- Google Inc Executive Chairman Eric Schmidt expects more than a billion mobile devices around the world to be running its Android software within a year, intensifying a battle with Apple Inc.

  • Oct 10- Online stock photography provider Shutterstock Inc priced its initial public offering of 4.5 million shares at $17 each, raising $76.5 million, the company said in a statement.

  • Oct 11- Strokes are most common in old age, but U.S. research suggests that lifestyle is putting younger people increasingly at risk for suffering strokes too. In their study of two U.S. states, researchers whose report appeared in the journal Neurology found that the rate of strokes among adults younger than 55 nearly doubled between 1993 and 2005..

  • NEW YORK, Oct 10- Money market pioneer Bruce Bent will testify on Thursday at a trial in which U.S. market regulators accuse him and his son of fraud as they tried to stop a run on their Reserve Fund in the September 2008 financial crisis.

  • SYDNEY, Oct 11- Australian shares fell 0.6 percent early on Thursday, following weak leads from Wall Street as U.S. equities sank on corporate warnings of slower growth, with investors waiting on local jobs data later in the morning for an update on the domestic economy.

  • NEW YORK-- Standard& Poor's downgraded its rating on Spain's debt Wednesday by two notches, leaving it on the cusp of junk status. S&P also assigned a negative outlook to the rating, saying it could be further downgraded if Spain's economic conditions erode further.

  • *S&P cites Spain recession and euro zone policy uncertainty. *Moody's and S&P both have Spain on cusp of junk rating. Moody's has Spain on review for a possible downgrade.

  • SAN FRANCISCO, Oct 10- Record-high retail prices for gasoline in California began to ease on Wednesday, receding from an unprecedented jump to $5 a gallon in some areas, even as further refinery disruptions threatened to slow the decline.

  • *Octavian plans to return bulk of money next year. BOSTON, Oct 10- Octavian Advisors, a roughly $1 billion hedge fund firm specializing in distressed investments, said it was shutting down, becoming the latest casualty of tough market conditions as it suffered double-digit losses.

  • MELBOURNE, Oct 11- Australian shares are likely to extend losses into a second day on Thursday after U.S. equities sank on corporate warnings of slower growth, though local price moves may be limited ahead of monthly jobs data.

  • NEW YORK, Oct 10- JPMorgan Chase& Co has made enough progress containing its $5.8 billion of derivatives losses and tightening its risk controls that the outlook for its credit rating has improved to stable from negative, Fitch Ratings said on Wednesday.

  • REGIONS STRONGER: The Federal Reserve's survey of business conditions around the country found that stronger housing markets had given a boost to economic growth in nearly every region of the country at the end of the summer.

  • NEW YORK-- Standard& Poor's is downgrading Spain's credit rating two notches to agency's lowest investment-grade level. S&P cited Spain's economic recession, high unemployment and social unrest. Spain's economy is shrinking and its banks are struggling under the weight of a collapsed real-estate market.

  • New York's Tech Takeover

    According to startup tracking website SeedTable, 127 startups have set up shop in New York in the last 12 months. CNBC's Melissa Lee talks to Alexa Von Toble, founder and CEO of Learnvest.com, and Mark Hedlund of Etsy. Welcome to Silicon "square."

  • *Turkey warns Syria about cross-border shelling. Oil markets, which have been balancing concerns of lower global fuel demand against the risk of supply disruptions in the Middle East and loading delays of crude from the North Sea, also.

  • NEW YORK, Oct 10- Standard& Poor's on Wednesday cut Spain's sovereign credit rating to BBB-minus, just above junk territory, citing a deepening economic recession that is limiting the government's policy options to arrest the slide. S&P's two-notch downgrade from BBB-plus brings it in line with Moody's Investors Service's Baa3 rating.

  • NEW YORK-- Shares of Barnes& Noble rose Wednesday after the CEO said advance orders of its new Nook e-readers are much higher than for past Nook devices. That's good news because Barnes& Noble, the largest traditional U.S. bookseller, is investing heavily in its e-book readers and digital library to ward off tough competition from online retailers and discounters.

  • Oct 10- Barnes& Noble Inc expects its digital Nook and college bookstore businesses to generate combined revenues of $3 billion this year, helped by strong e-books sales growth, and the bookseller said on Wednesday it plans to expand its digital bookstore into nine new international markets by June.

  • Wal-Mart, Kmart and Toys R Us all report toys like kids' tablet LeapPad2, robotic pet Furby, and Power Wheels battery-powered cars are all popular layaway items.

  • Oct 10- Fitch Ratings has affirmed Societe Generale's. The Negative Outlook on SG's Long-term IDR reflects that on France's Long-term IDR. This rating action on SG was taken in conjunction with Fitch's Global Trading and Universal Bank periodic review.