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Top News & Analysis New York

  • *OPEC compliance 88 percent based on industry average. *LBBW cuts year-end Brent price forecast by $5 to $55/ bbl. NEW YORK, Feb 24- Oil prices slid nearly 1 percent on Friday as worries about rising U.S. supplies outweighed OPEC pledges to boost compliance with output curbs.

  • NEW YORK, Feb 24- A New York state judge has dismissed a lawsuit accusing the Sequoia Fund, known for its ties to Warren Buffett, of recklessly making a huge, disastrous investment in Valeant Pharmaceuticals International Inc, causing billions of dollars of losses. Justice O. Peter Sherwood of the State Supreme Court in White Plains, New York, said Sequoia...

  • District Judge Katherine Polk Failla in Manhattan came in a lawsuit the Atlanta- based company filed in December, accusing JPMorgan Chase& Co of withholding consent to parts of its refinancing plan.

  • *OPEC compliance 88 percent based on industry average. NEW YORK, Feb 24- Oil prices fell on Friday despite OPEC pledges to boost compliance with output curbs, on concerns over rising U.S. supplies and as traders begin to pull out crude barrels from pricey storage as physical markets show signs of tightening. "The oil market remains focused on the global rebalancing...

  • U.S. markets are trading at record levels since the U.S. election, spurred by President Donald Trump's promises of tax reforms, reduced regulations and increased infrastructure spending. But, with Trump giving scant detail on his plans including one on Thursday to bring millions of jobs back to the United States markets have recently traded in a tight range.

  • NEW YORK, Feb 24- U.S. long-dated Treasury debt yields dropped to two-week lows on Friday, weighed down by declines in Europe amid persistent political uncertainty as well as a soft batch of U.S. data that suggested a more mixed outlook for the world's largest economy. "I think we're rallying mostly from what's going in Europe," said Tom di Galoma, managing director at...

  • NEW YORK, Feb 24- Key global stock markets fell on Friday as investors lowered bets that policies of U.S. Oil futures fell, pressuring energy stocks after data showed U.S. crude inventories rose for a seventh week, signaling oversupply despite OPEC's efforts to rein in output. "The market will come to realize that a lot of these pro-growth policies might get pushed...

  • NEW YORK— U.S. stocks are losing ground Friday as banks fall and energy companies continue to slide, putting the Dow Jones industrial average on track to break a 10- day winning streak. The losses are modest, but there's far more selling than buying on Wall Street. The Standard& Poor's 500 index fell 4 points, or 0.2 percent, to 2,359. The Nasdaq composite sank 11 points,...

  • NEW YORK, Feb 24- Criminal charges against top executives of Platinum Partners for running the $1.4 billion hedge fund firm like a Ponzi scheme have revived an old question for investors: Where was the board? Donald Seymour and David Bree of Cayman-based DMS Governance Ltd were directors for Platinums troubled Value Arbitrage Fund. Spokesmen for the SEC and...

  • NEW YORK, Feb 24- Next week's planned US $3.2 bn IPO of Snap Inc, maker of the popular Snapchat app, is oversubscribed, market sources told IFR on Friday. The much-awaited deal is scheduled to price on Wednesday, with the company set to begin trading on the New York Stock Exchange the following day. Potential buyers have been plentiful at lunches in New York and London...

  • Graeme Pitkethly said Kraft's offer had highlighted the importance of achieving a balance between long-term sustainable value, which it had prioritised, and short-term delivery. "This has certainly been a trigger moment for Unilever, and we will not waste it," he said at the CAGNY conference in New York in a presentation streamed on its website.

  • Stocks are moving lower in midday trading on Wall Street, led by declines in banks and energy companies. Hewlett Packard Enterprises slumped 8 percent after the company said its profits will slow this year, and J.C. Penney dropped 9 percent after saying it would close up to 140 stores and two distribution centers. Stocks are opening lower on Wall Street, led by...

  • NEW YORK, Feb 24- Criminal charges against top executives of Platinum Partners for running the $1.4 billion hedge fund firm like a Ponzi scheme have revived an old question for investors: Where was the board? Donald Seymour and David Bree of Cayman-based DMS Governance Ltd were directors for Platinums troubled Value Arbitrage Fund. Spokesmen for the SEC and...

  • LONDON, Feb 24- Unilever said the shock of Kraft Heinz's opportunistic approach had jolted it to re-examine its strategy, and all aspects of the consumer goods giant's business were up for review to increase shareholder value. Chief Financial Officer Graeme Pitkethly said the Kraft bid had created an "inflection point," and had highlighted the importance of...

  • LOS ANGELES— Ellen DeGeneres has handed out college scholarships to the entire senior class of a New York City charter school. DeGeneres surprised the 41 students from Brooklyn's Summit Academy this week at her California studio during the taping of Thursday's episode of her chat show. The four-year scholarships paid for by Wal-Mart will cover tuition for...

  • *Pretax statutory profit $409 mln tops $366 mln consensus. *$215 mln loss from stake in Indonesia bank unit. LONDON/ HONG KONG, Feb 24- Standard Chartered shares fell as much as 5 percent on Friday as the British bank said it would not pay a dividend for 2016 due to restructuring costs, but increased its staff bonus pool by 5 percent.

  • NEW YORK— J.C. Penney said Friday that it will be closing anywhere from 130 to 140 stores as well as two distribution centers over the next several months as it aims to improve profitability in the era of online shopping. The news came as the Plano, Texas- based chain posted a profit in the fourth-quarter compared to a loss a year ago. Penney has been recovering from a...

  • NEW YORK _ IStar Financial Inc. on Friday reported a fourth-quarter loss of $6.4 million, after reporting a profit in the same period a year earlier. On a per-share basis, the New York- based company said it had a loss of 27 cents. For the year, the company reported net income of $95.3 million, or 55 cents per share, swinging to a profit in the period.

  • NEW YORK _ Foot Locker Inc. on Friday reported fiscal fourth-quarter profit of $189 million. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.31 per share. Foot Locker shares have dropped slightly more than 3 percent since the beginning of the year.

  • U.S. stocks have screamed to records since Election Day because investors are expecting Donald Trump's White House to cut taxes for business, make regulations easier for them and goose more growth out of the economy. "When we had the election, there was initially shock," said Darrell Riley, a vice president at T. Rowe Price who helps set the strategy for how $240...