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Top News & Analysis New York

  • MONTREAL/ NEW YORK, Feb 23- Canada's Gildan Activewear plans to keep making key styles from its recently acquired American Apparel brand in the United States but will also manufacture some products elsewhere, a company spokesman said on Thursday. Keeping jobs in the United States has become a hot-button political issue since President Donald Trump...

  • NEW YORK, Feb 23- U.S. crude oil stockpiles rose last week for a seventh straight week but less than forecast, while gasoline inventories fell far more than expected as refineries cut output, the Energy Information Administration said on Thursday. By 11:30 a.m. EST or half an hour after the report, however, U.S. crude futures pared gains to 1.5 percent at $54.40 a...

  • Feb 23- Norwegian Air Shuttle ASA plans to offer transatlantic flights on 10 new routes between the United States and Europe with tickets starting at $65 one way, putting pressure on U.S. and European rivals to compete, it said on Thursday. Norwegian's $65 fares will be for a one-way ticket to UK and Irish destinations from smaller airports in New York state,...

  • NEW YORK, Feb 23- A former Valeant Pharmaceuticals International Inc executive and the former chief executive of mail order pharmacy Philidor Rx Services pleaded not guilty on Thursday to charges they orchestrated a multi-million dollar fraud and kickback scheme. Federal prosecutors accused Gary Tanner, who was a senior director at Canadian drugmaker...

  • NEW YORK, Feb 23- Global stock prices posted record highs for a third straight session on Thursday, propelled by an oil rally after a surprise drop in U.S. crude inventories and comments by U.S. Treasury Secretary Steven Mnuchin about pursuing significant tax reform. This outlook for policy accommodation lifted gold prices to a three-month high near $1,250 an...

  • WASHINGTON, Feb 23- The number of Americans filing for unemployment benefits rose slightly last week but the four-week average of such claims, considered a better gauge, fell to a 43-1/ 2- year low in a sign of a strengthening labor market. "All indications are that job creation remains solid, underscoring the resiliency of the nearly eight-year economic recovery,"...

  • In an email to NYSE traders, the exchange said it would offer a "weekend production testing opportunity" on Feb. 25 for firms to "exercise their IPO trading logic." The stakes are high for NYSE in handling the closely-watched offering for Snap, which runs popular messaging app Snapchat. "It's a big deal and they clearly want to make sure it goes smoothly- you can't fault...

  • NEW YORK, Feb 23- Yields on U.S. Treasury Secretary Steven Mnuchin said he wants to see a major tax plan passed before Congress by August, but failed to give details about it. "People are thirsty for details on what the tax plan is going to be," said Tom Simons, money market economist at Jefferies in New York.

  • The Standard& Poor's 500 index was down 5 points, or 0.2 percent, to 2,357. The Nasdaq composite lost 45 points, or 0.8 percent, to 5,815. The Russell 2000 index of smaller-company stocks tumbled 17 points, or 1.2 percent, to 1,386.. The S&P 500 and Nasdaq are on track for their biggest losses in February. The stock gave up $9.95, or 17.1 percent, to $48.18.

  • NEW YORK— Alan Colmes, the radio and television host and commentator best known as the amiable liberal foil to the hard-right Sean Hannity on the Fox News Channel, has died. Colmes was 66 and is survived by his wife, Jocelyn Elise Crowley, the sister of longtime Fox contributor Monica Crowley. Colmes was a New York City native and Hofstra University graduate who...

  • You've found the perfect new home for your family, but your current house hasn't sold yet. You can't afford to carry two mortgages, or maybe you were counting on money from your sale to help with the down payment and closing costs. You'll strengthen your chances of getting a seller to take a chance on you if you can show that your home is priced properly and has a solid...

  • NEW YORK, Feb 23- L3 Technologies Inc said on Thursday it reached a $34.5 million settlement of a lawsuit by shareholders who accused the defense contractor of accounting fraud in its aerospace systems business. Shareholders led by two Michigan pension plans accused L3 of hiding improprieties, including those raised by an internal management-level...

  • *Mnuchin says expects significant tax reform. *Boston Scientific drops on heart device recall, rival up. Feb 23- The S&P 500 and the Dow Jones Industrial Average hit record intraday highs on Thursday as a rally in oil prices added to optimism about U.S.

  • NEW YORK— The latest on developments in financial markets:. Steel dropped 6.5 percent and heavy machinery maker Caterpillar gave up 3 percent. The Russell 2000 index dropped 16 points, or 1.1 percent, to 1,387..

  • PURCHASE, N.Y. _ Atlas Air Worldwide Holdings on Thursday reported fourth-quarter net income of $28.4 million, after reporting a loss in the same period a year earlier. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.23 per share. Atlas Air shares have climbed almost 3 percent since the beginning of the year.

  • LONDON, Feb 23- Three of the world's biggest exchanges are launching precious metals contracts in London this year, each aiming for a chunk of the city's $5- trillion- a-year gold business. The London Metal Exchange, CME and ICE see an opportunity as increasing regulatory scrutiny is raising costs for banks trading gold over the counter in bilateral deals.

  • Feb 23- U.S. stocks looked set to open near record highs on Thursday as a rally in oil prices added to rising optimism about U.S. Treasury Secretary Steven Mnuchin told CNBC on Thursday that he expected a "very significant" tax reform to be enacted by Congress' August recess. "There is an incremental buy on the market everyday," said Drew Forman, co-head of sales and...

  • FLORIDA, N.Y.— Discount retailer Dollar General says it has chosen a site near the New York State Thruway in the Mohawk Valley for a distribution center that will employ more than 400 people. The Goodlettsville, Tennessee- based company announced Wednesday that it will construct a 750,000- square-foot building in the Montgomery County town of Florida, 30 miles...

  • NEW YORK _ Intercept Pharmaceuticals Inc. on Thursday reported a loss of $120 million in its fourth quarter. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of $3.58 per share. Five analysts surveyed by Zacks expected $9.2 million.

  • NEW YORK _ AMC Networks Inc. on Thursday reported fourth-quarter net income of $14.5 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share. AMC Networks shares have increased roughly 10 percent since the beginning of the year.