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Top News & Analysis New York

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  • NEW YORK, Aug 3- U.S. benchmark and long-dated Treasury yields hit their lowest levels in over two months on Monday on weak U.S. economic data and a muted inflation outlook, while declines in short-dated yields were limited ahead of a key U.S. jobs report. Continued concerns over China and Greece's economies also spurred some safe-haven bids for U.S.

  • NEW YORK/ LONDON, Aug 3- Gold dropped on Monday, after falling by the most in two years in July, as the dollar rose and investors monitored U.S. economic indicators for clues on the timing of a hike in U.S. interest rates. Spot gold was down 0.9 percent at $1,086.06 an ounce by 3:02 p.m. EDT. The metal hit a low of $1,077 on July 24, its weakest in 5-1/ 2 years.

  • *Tyson Foods falls after profit forecast cut. Aug 3- U.S. stocks fell on Monday as oil prices touched a six-month low and factory data from China raised concerns about the world's second-biggest economy. Oil prices fell on fresh evidence of growing oversupply and data highlighting slowing demand in China.

  • Aug 3- Sirius XM Radio Inc has agreed to pay up to $1.3 million to settle claims that it violated U.S. labor laws by not paying interns, making the satellite radio provider the latest large company to settle such a case. In cases against Fox Searchlight Pictures Inc and The Hearst Corp, the appeals court said unpaid internships were legal when they were closely tied...

  • NEW YORK, Aug 3- Oil futures prices sank to a six-month low on Monday, weighed by oversupply and weaker demand expectations, while equity markets in Asia and on Wall Street fell as factory data from China and the United States disappointed. Brent slumped to its lowest since late January on worries about oversupply as OPEC pumped at record levels in July, adding to...

  • Benchmark U.S. crude fell $1.95, or 4.1 percent, to close at $45.17 a barrel in New York. U.S. crude has been declining since reaching a high this year of $61.43 a barrel on June 10. Brent crude, a benchmark for international oils used by many U.S. refineries, was declined $2.69, or 5.2 percent, to $49.52 a barrel in London.

  • WASHINGTON, Aug 3- U.S. factory activity slipped in July and consumer spending advanced at its slowest pace in four months in June, indicating that the economy had lost some momentum recently. "We expect growth momentum to re-accelerate over the next few months, providing the Fed with the necessary confidence they need to raise rates in September," said Millan...

  • NEW YORK— Shares of Michael Kors Holdings skidded to a three-year low Monday as analysts forecast a difficult first quarter and fiscal year for the maker of handbags, clothing and accessories. Michael Kors Holdings Ltd. stock fell $3.37, or 8 percent, to $38.62 in afternoon trading as the broader markets declined. The company said fewer customers visited its...

  • *Tyson Foods falls after profit forecast cut. Exxon Mobil and Chevron, which also reported poor results on Friday, led the losses. Oil prices were knocked by fresh evidence of growing oversupply and data highlighting slowing demand in China.

  • NEW YORK— Goldman Sachs Group Inc. raised the upper end of its estimate for "reasonably possible" legal expenses to $5.9 billion, according to a regulatory filing. In August of 2014, Goldman Sachs agreed to a settlement worth $1.2 billion to resolve claims that it misled U.S. mortgage giants Fannie Mae and Freddie Mac about risky mortgage securities it sold them...

  • *Oversupply worries, weak US, China data hurt market. NEW YORK, Aug 3- Oil sank to six-month lows on Monday with Brent crude falling below $50 a barrel on sluggish U.S. and Chinese economic data and bets for weaker gasoline consumption in the United States after tearaway demand earlier in the summer. Evidence of growing global oversupply and a stock market collapse...

  • SAN FRANCISCO, Aug 3- Macy's Inc said on Monday the department store chain will expand same day delivery services to nine cities and metropolitan areas this month, pushing into an aggressive field dominated by e-commerce giant Amazon.com Inc.. Macy's, the nation's largest department store chain, said it will now offer same day delivery to customers in 17...

  • NEW YORK, Aug 3- Oil futures prices hit a six-month low on Monday, weighed by oversupply and weaker demand expectations, while stocks in Asia and on Wall Street were under pressure as factory data from China and the United States disappointed. The Netherlands, Spain and Italy all reported healthy growth, and Italy's expansion was its best in more than four years.

  • *Oversupply worries, weak US, China data hurt market. NEW YORK, Aug 3- Oil sank to six-months lows on Monday as sluggish data out of the U.S. and China, and bets for weaker gasoline consumption after tearaway demand earlier in the summer, deepened losses in benchmark crude contracts. Evidence of growing global oversupply and a stock market collapse in China, the...

  • NEW YORK, Aug 3- U.S. long-dated and benchmark Treasuries yields hit their lowest levels in two months on Monday after weaker-than-expected U.S. economic data damped expectations that the Federal Reserve will hike interest rates in September. The Institute for Supply Management said its index of national factory activity fell to 52.7 in July from 53.5 the...

  • BOSTON— The Boston Symphony Orchestra said Monday it was extending the contract of Andris Nelsons, who last year became the orchestra's youngest conductor in a century. The 36- year-old Latvian-born Nelsons served as music director of the Latvian National Opera and the Birmingham Symphony Orchestra in England before taking the post with the Boston...

  • NEW YORK— Barnes& Noble completed the spinoff of its college book store business, made up of more than 720 stores on college and university campuses. The company said last month that Sears Canada CEO Ronald Boire would take over as CEO of Barnes& Noble Inc. in October, replacing Michael Huseby, who will become executive chairman of Barnes& Noble Education.

  • BUFFALO, N.Y.— The clock is ticking for leaders of New York's most chronically underperforming public schools, who under a new state law must quickly begin to turn things around or lose control to an outsider— a tactic that has produced mixed results elsewhere. On the other hand, Buffalo parent leader Sam Radford sees "the dawn of a new day" for schools where progress...

  • MUMBAI, Aug 3- India's Supreme Court on Monday asked the markets regulator to submit an application by September 14 seeking its approval to appoint a receiver to auction conglomerate Sahara's assets and refund investors in the troubled group's illegal bonds. The Supreme Court is "contemplating" appointing a receiver to auction Sahara properties, Shekhar...

  • *U.S. manufacturing activity fell in July. NEW YORK, Aug 3- The dollar pared gains against the euro on Monday after data showed the pace of growth in the U.S. manufacturing sector slowed in July. The Institute for Supply Management said its index of national factory activity fell to 52.7 from 53.5 the previous month.