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Top News & Analysis New York

  • BOSTON— Native Americans hope President Donald Trump doesn't forget America's first inhabitants as he promises to put "America first." Five large tribes in Oklahoma— the Cherokee, Chickasaw, Choctaw, Muscogee Creek and Seminoles— have requested a meeting with the New York billionaire during his first 100 days in office so they can talk about ways to advance their...

  • Feb 18- An explosion and fire at an oil refinery in Torrance, California, on Saturday forced the partial shutdown of the plant, leading oil traders to expect a spike this week in West Coast gasoline prices. Two years ago, a fire at the same plant led to its closure for several months and a sustained increase in West Coast gasoline prices for more than a year.

  • NEW YORK— Fiat Chrysler says it is recalling some Chrysler cars because driveshaft bolts can come loose on all-wheel drive models, increasing the risk of a crash. The recall is expected to begin March 31. About 75,000 cars are affected in the U.S., Canada and Mexico.

  • NEW YORK— Kraft Heinz's $143 billion offer to buy Unilever was spurned, but the ketchup, cheese and lunch meat maker is still hungry to expand its domain. Given Unilever's stable of personal care products such as Dove soap, Bernstein analyst Ali Dibadj said the offer signaled that Kraft Heinz is potentially open to acquiring other packaged consumer goods, not...

  • Feb 17- Buyout firm 3 G Capital managed to build a consumer empire with a market value of over $140 billion in just seven years. Yet its ruthless approach to costs may end up hampering 3 G-backed Kraft Heinz Co's $143 billion bid for Unilever Plc.. Its investment approach has attracted backers ranging from billionaire investor Warren Buffett, who has helped...

  • LONDON, Feb 17- U.S. food company Kraft Heinz Co made a surprise $143 billion offer for Unilever Plc in a bid to build a global consumer goods giant, although it was flatly rejected on Friday by the maker of Lipton tea and Dove soap. A combination would be the third-biggest takeover in history and the largest acquisition of a UK- based company, according to Thomson...

  • Feb 17- Citigroup Inc's board of directors cut Chief Executive Officer Michael Corbat's compensation by 6 percent last year after the bank missed financial targets and one-third of its voting shareholders disapproved of his prior pay package. Corbat received $15.5 million in total compensation, including a base salary of $1.5 million, a $4.2 million cash...

  • STOCKHOLM- Swedish Central Bank Deputy Governor Cecilia Skingsley will talk on electronic payment forms of the future at a lunch meeting arranged by the Royal Swedish Academy of Engineering Sciences- 1100 GMT. BOISE, United States- Federal Reserve Bank of San Francisco President John Williams speaks on "Getting to Know the Fed" before Boise State University...

  • STOCKHOLM- Swedish Central Bank Deputy Governor Cecilia Skingsley will talk on electronic payment forms of the future at a lunch meeting arranged by the Royal Swedish Academy of Engineering Sciences- 1100 GMT. BOISE, United States- Federal Reserve Bank of San Francisco President John Williams speaks on "Getting to Know the Fed" before Boise State University...

  • Feb 17- Citigroup Inc cut Chief Executive Officer Michael Corbat's compensation by 6 percent to $15.5 million in 2016, a year in which the bank fell short of profitability and efficiency goals and saw one-third of voting shareholders disapprove of the company's prior executive compensation. Corbat got a base salary of $1.5 million, a $4.2 million cash...

  • NEW YORK— Citigroup's board of directors is awarding CEO Michael Corbat a pay package worth $15.5 million for 2016, down from $16.5 million in 2015.. Citi's board said Friday that in addition to his $1.5 million base salary, Corbat will receive $4.2 million in cash and $9.8 million in stock awards. For example, Citigroup almost entirely wound down Citi Holdings...

  • LONDON, Feb 17- U.S. food company Kraft Heinz Co made a surprise $143 billion offer for Unilever Plc in a bid to build a global consumer goods giant, although it was flatly rejected on Friday by the maker of Lipton tea and Dove soap. A combination would be the third-biggest takeover in history and the largest acquisition of a UK- based company, according to Thomson...

  • NEW YORK— Bank of America CEO Brian Moynihan is getting a big pay raise this year. The Charlotte, North Carolina- based bank said Friday that its board of directors awarded Moynihan a pay package of $20 million for 2016, up from his package of $16 million for his work in 2015.. It was Bank of America's second-largest full-year profit ever.

  • Feb 17- Citigroup Inc cut Chief Executive Michael Corbat's compensation by 6 percent to $15.5 million in 2016, a year in which the bank fell short of profitability and efficiency goals and saw one-third of voting shareholders disapprove of the company's prior executive compensation.

  • NEW YORK, Feb 17- A former Wall Street investment banker was sentenced to three years in prison on Friday after he was convicted of engaging in insider trading by repeatedly tipping his father off to unannounced healthcare mergers. Sean Stewart, who worked at Perella Weinberg Partners and JPMorgan Chase& Co, was sentenced by U.S. Stewart, who at trial contended his...

  • WASHINGTON, Feb 17- President Donald Trump's pledge to bring massive investments in U.S. infrastructure projects showed new signs of life on Friday after lying dormant for weeks, as leading Republican lawmakers said proposals from the administration could be in the offing. He has previously voiced concern over adding to budget deficits with a new injection...

  • Viacom Chief Executive Bob Bakish will work with an interim management team at Paramount, according to one of the sources. Paramount was at the center of a bruising power struggle between Viacom's controlling shareholder, Sumner Redstone, and his daughter, Shari, and Viacom's former chief executive, Philippe Dauman. Last month, Grey helped to arrange a deal for...

  • Globally, the Organization of the Petroleum Exporting Countries and other producers, including Russia, agreed to cut output almost 1.8 million barrels per day during the first half of 2017.. Estimates suggest compliance by OPEC is around 90 percent, and Reuters reported on Thursday that OPEC could extend the pact or apply deeper cuts from July if global crude...

  • Kraft Heinz Co., up $9.37 to $96.65. J.M. Smucker Co., down $1.89 to $135.95. Campbell Soup Co., down $4.07 to $58.48.

  • Sean Stewart, 35, chose "personal convenience, personal appearance and family benefits" over requirements that he protect secrets he learned as an executive in mergers and acquisitions at JPMorgan Chase& Co. and Perella Weinberg Partners LP, U.S. Besides the prison term, the judge ordered Stewart, who lives in Manhattan, to spend a year in home detention...