Top News & Analysis New York

  • NEW YORK, Sept 26- Perry Capital, the hedge fund firm founded by Richard Perry and Paul Leff in 1988, plans to wind down its main hedge funds, according to a letter sent to investors on Monday and seen by Reuters. "Although I continue to believe very strongly in our investments, process and team, the industry and market headwinds against us have been strong, and the...

  • WASHINGTON, Sept 26- The United States said on Monday it had sanctioned a Chinese industrial machinery and equipment wholesaler, a new step in tightening the financial noose around North Korea's nuclear program after its fifth nuclear test this month. It accused the firm of acting on behalf of North Korea's Korea Kwangson Banking Corp, which has been under U.S....

  • NEW YORK, Sept 26- A federal appeals court on Monday cleared the way for American Express Co to block merchants that accept its cards from steering customers toward lower-cost cards from other issuers. The 2nd U.S. Circuit Court of Appeals in New York said a lower court judge in Brooklyn erred in February 2015 in finding that American Express' "anti-steering" rules...

  • NEW YORK, Sept 26- A federal appeals court on Monday cleared the way for American Express Co to block merchants that accept its cards from steering customers toward lower-cost cards from other issuers. The 2nd U.S. Circuit Court of Appeals in New York said a lower court judge in Brooklyn erred in February 2015 in finding that American Express' "anti-steering" rules...

  • SAO PAULO, Sept 26- Samarco Mineração SA, the Brazilian iron ore mining joint venture that suspended operations in November following a dam disaster, missed an interest payment on a $500 million bond that was due on Monday, trustee Bank of New York Mellon Corp said. As a result, Samarco will have 30 days to make the payment, or else investors holding at least 25...

  • NEW YORK, Sept 26- Perry Capital, the hedge fund firm founded by Richard Perry and Paul Leff in 1988, plans to wind down its main hedge funds, according to a letter sent to investors on Monday and seen by Reuters. "Although I continue to believe very strongly in our investments, process and team, the industry and market headwinds against us have been strong, and the...

  • NEW YORK— In a story Sept. 23 about online reviews, The Associated Press used incorrect style for the name of Yelp, the company that runs an online review website. NEW YORK— It is a double-edged cybersword: a negative review of a restaurant or other business, posted for the world to see. Jeff Gates, who co-owns eight restaurants in the Boston area, says online reviews give...

  • NEW YORK, Sept 26- A federal appeals court on Monday cleared the way for American Express Co to block merchants that accept its cards from steering customers toward lower-cost cards from other issuers. The 2nd U.S. Circuit Court of Appeals in New York said a lower court judge in Brooklyn erred in February 2015 in finding that American Express' "anti-steering" rules...

  • NEW YORK— U.S. stocks slumped Monday, and banks took the biggest losses. Deutsche Bank hit an all-time low as investors worried about the financial health of Germany's largest bank. Pfizer pulled drugmakers down after it announced it won't break up into two companies.

  • Deutsche Bank AG, down 90 cents to $11.85. Pfizer Inc., down 62 cents to $33.64. Germany's Lanxess agreed to buy the specialty chemicals maker in a deal the two companies valued at $2.5 billion.

  • *Iran downplays chance of output freeze, some in OPEC hopeful. Key OPEC member Iran, the fourth largest crude exporter which is still trying to recapture output before Western sanctions in 2012, downplayed the chances of a deal while some OPEC members remained hopeful. "Unless there's an impressive production cut by OPEC on top of a freeze, I think we'll give back...

  • *Oil prices rise on hopes of OPEC production freeze. NEW YORK, Sept 26- Stock prices around the world fell on Monday ahead of the first U.S. presidential debate between Hillary Clinton and Donald Trump, while oil prices rose in advance of an informal OPEC meeting in Algeria on hopes for an output cut. Deutsche Bank shares hit a record low on worries about Germany's...

  • WASHINGTON, Sept 26- The United States said on Monday it had sanctioned a Chinese industrial machinery and equipment wholesaler, a new step in tightening the financial noose around North Korea's nuclear program after its fifth nuclear test this month. It accused the firm of acting on behalf of North Korea's Korea Kwangson Banking Corp, which has been under U.S....

  • Jeffrey Klein and Diane Savino, looked at advertisements for 110 rentals offering space for 13 or more people. "We must take legislative action to prevent potential tragedy that could occur from illegally packing people into spaces and hold sites like Airbnb accountable," said Klein, who leads a group of senators known as the Independent Democratic Conference.

  • NEW YORK— American Express did not violate antitrust laws by barring merchants from asking customers to use one credit card over another and steering consumers to another form of payment, a federal appeals court said Monday. To do so, it said, likely would increase the market shares of Visa and MasterCard at the expense of American Express, whose card members tend...

  • RALEIGH, N.C.— The Latest on investors calling on North Carolina to repeal the law that limits LGBT protections against discrimination:. Pat McCrory says it's the "height of hypocrisy" for investors whom he describes as " New York hedge fund billionaires" to tell North Carolina what to do about a law that limits LGBT protections against discrimination.

  • NEW YORK, Sept 26- A federal appeals court on Monday cleared the way for American Express Co to enforce rules prohibiting merchants that accept its cards from steering customers toward lower-cost cards offered by competing issuers. The 2nd U.S. Circuit Court of Appeals in New York said a lower court judge erred in concluding that American Express' agreements...

  • NEW YORK/ LONDON, Sept 26- Gold steadied on Monday, after a retreat in the dollar helped it build on last week's gains but moves were muted with markets awaiting a U.S. presidential debate for pointers as to the outcome of November's election. Spot gold was at $1,337.40 an ounce by 2:57 p.m. EDT, up 0.01 percent, while U.S. gold futures for December delivery settled up...

  • NEW YORK, Sept 26- A federal appeals court on Monday cleared the way for American Express Co to enforce rules prohibiting merchants that accept its cards from steering customers toward lower-cost cards offered by competitors. The 2nd U.S. Circuit Court of Appeals in New York said a lower court judge erred in concluding that Amex's agreements with merchants...

  • NEW YORK, Sept 26- Pfizer Inc, which was considering splitting itself for more than two years, said on Monday it would not do so, prompting shareholders to expect more deals that could bolster its roster of new medicines. "I never saw the logic behind a split-up," said portfolio manager Les Funtleyder of E Squared Asset Management, which owns Pfizer shares.