Top News & Analysis New York

  • HONG KONG, Aug 26- For investors and bankers wanting to know more about who's behind Anbang Insurance Group, China's second-largest life insurer, plans for a Hong Kong IPO next year should provide some answers. For a company boasting about $300 billion in assets, including New York's Waldorf Astoria hotel, Anbang's chairman Wu Xiaohui and top executives...

  • NEW YORK, Aug 25- Investors trimmed risk assets before a gathering of central bankers on Friday, pulling $6.4 billion from U.S.-based stock funds in a course-reversal during the week ended Aug. 24, data from Lipper showed on Thursday. The outflows, which came a week after cash poured into stock funds for the first time in five weeks, are the last data showing U.S. fund...

  • NEW YORK, Aug 25- A Texas jury said on Thursday a General Motors Co ignition switch, linked to nearly 400 injuries and deaths, was not to blame for a fatal 2011 crash, according to a company statement. The verdict in Harris County, Texas, was the second in favor of GM this year in lawsuits over the now recalled ignition switch. Plaintiff Zachary Stevens alleged that a...

  • Aug 25- The son of a Russian lawmaker was convicted on Thursday on U.S. charges that he engaged in a scheme to hack into U.S. businesses in order to steal and sell credit card numbers, costing financial institutions more than $169 million. Roman Seleznev, also known as "Track2," was found guilty by a federal jury in Seattle on 38 of 40 counts including wire fraud and...

  • PORT WASHINGTON, N.Y. _ Aceto Corp. on Thursday reported fiscal fourth-quarter net income of $6.8 million. The Port Washington, New York- based company said it had net income of 23 cents per share. Aceto shares have decreased roughly 5 percent since the beginning of the year.

  • The list price of the drug will remain the same, but the company said it would increase the maximum copay assistance program to $300 from $100 for patients who pay for the 2- pak in cash or who are covered by a commercial health insurer. The price of EpiPen has skyrocketed to $600 from $100 since it was acquired by Mylan in 2007.. Ronny Gal, an analyst with Bernstein,...

  • "Monday was a very challenging day for us," Richard Smyth, the Port Authority executive in charge of the LaGuardia renovation, acknowledged Thursday. But critics say the Port Authority must do more to ensure that the airport functions smoothly during the prolonged redevelopment. "They're just not doing a very good job right now, the traffic situation is spiraling...

  • NEW YORK— Ryan Lochte has a new sponsor— Pine Bros. Four major sponsors, including Speedo USA and Ralph Lauren, dumped Lochte on Monday, determining they no longer wanted their brands associated with the swimmer. Lochte claimed he and three other U.S. swimmers were robbed in Rio de Janeiro after their taxi was pulled over by armed men posing as police.

  • JACKSON HOLE, Wyo., Aug 25- As central bankers converge on this mountain resort Thursday for an annual conference on monetary policy, a couple of top Federal Reserve officials took the chance to renew a push for interest-rate hikes, citing improvement in employment and inflation. "The case is strengthening" for a rate hike, Dallas Fed President Robert Kaplan told...

  • Jude Medical Inc fell sharply on Thursday after short-selling firm Muddy Waters said it had placed a bet that the shares would fall, claiming its implanted heart devices were vulnerable to cyber attacks. Muddy Waters head Carson Block said the firm's position was motivated by research from a cyber security firm, MedSec Holdings Inc, which has a financial...

  • *U.S. Navy fired warnings shots after approach by Iran craft. NEW YORK, Aug 25- Oil prices rose 1 percent on Thursday on U.S.- Iran military tensions in the Gulf and speculation the dollar will fall on a monetary policy speech due from the U.S. The market, however, gave back some gains after an interview by Saudi Arabia's energy minister with Reuters raised fresh...

  • NEW YORK— Stocks closed lower on Thursday, led by declines in health-care companies as investors worry about a backlash in Washington against recent price increases for key drugs. A few retailers reported disappointing earnings, and that helped push down consumer discretionary stocks. The losses were modest as major indexes hover near record highs hit last...

  • WASHINGTON, Aug 25- The U.S. Federal Aviation Administration briefly halted flights at Miami International and nearby airports around 11:30 a.m. EDT on Thursday following a five-minute power outage at Miami's Terminal Radar Approach Control, a spokeswoman said. Flight operations returned to normal after about 90 minutes, the FAA said.

  • *Healthcare pulls Wall Street slightly lower. NEW YORK, Aug 25- Most investors refrained from making big bets on Thursday ahead of the start of a central bankers' meeting in the mountains of Wyoming that could clarify the path of U.S. interest rate policy. Federal Reserve Chair Janet Yellen will deliver the keynote speech on Friday, but she may struggle to convince...

  • Dollar General Corp., down $16.18 to $75.61. Tiffany& Co., up $4.41 to $73.28. Signet Jewelers Ltd., down $12.06 to $83.44.

  • *Fed Chair Janet Yellen due to speak on Friday. NEW YORK, Aug 25- U.S. stocks were modestly lower on Thursday, weighed down by a drop in healthcare and consumer names, while financials advanced slightly after two more Federal Reserve officials pushed the case for a rate hike. Jude Medical shares fell 5 percent after short-selling firm Muddy Waters said it bet that the...

  • NEW YORK— It's perhaps the most contrarian move in investing today: Trust a stock picker. Last month alone, $44 billion left actively managed stock funds, and nearly $41 billion went into comparable index funds. Through July, they were on pace for a third straight year of lower returns than either an S&P 500 index fund or an investment that tracks a Barclays bond...

  • *U.S. Navy fired warnings shots after approach by Iran craft. NEW YORK, Aug 25- Oil prices rose 1 percent on Friday on U.S.- Iran military tensions in the Gulf and speculation the dollar will fall on a monetary policy speech due from the U.S. The market, however, gave back some gains after an interview by Saudi Arabia's energy minister with Reuters raised fresh doubts...

  • Members of the Organization of Petroleum Exporting Countries will meet on the sidelines of the International Energy Forum, which groups producers and consumers, in Algeria from Sept. 26-28. Speaking publicly for the first time since talk about freezing production surfaced in the last few weeks, Al-Falih said there have not yet been any specific discussions...

  • The doctors, both of Boca Raton, Florida, and Chicago, are co-founders of the not-for-profit American Academy of Anti-Aging Medicine and are licensed to practice medicine and surgery in Illinois. The article said Klatz and Goldman in December 2000 agreed to pay $5,000 to Illinois and to stop identifying themselves as medical doctors in the state unless they...