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Top News & Analysis New York

  • NEW YORK, March 28- BlackRock Inc on Tuesday said it would overhaul its actively managed equities business, cutting jobs, dropping fees and relying more on computers to pick stocks in a move that highlights how difficult it has become for humans to beat the market. Last May, BlackRock said it had recruited Mark Wiseman, the head of Canada's biggest public pension...

  • NEW YORK, March 28- BlackRock Inc on Tuesday said it would overhaul its actively managed equities business, cutting jobs, dropping fees and relying more on computers to pick stocks in a move that highlights how difficult it has become for humans to beat the market. Last May, BlackRock said it had recruited Mark Wiseman, the head of Canada's biggest public pension...

  • *To pay $110 mln to settle lawsuit over retail sales practices. March 28- Wells Fargo& Co said it agreed to pay $110 million to settle a lawsuit by customers challenging its opening of accounts without their permission, a practice that led to a scandal that cost the bank's chief executive his job. The lawsuit dates from May 2015, sixteen months before Wells Fargo...

  • March 28- Electric bills in Georgia and South Carolina could rise more than customers expect if state utilities are left stranded by a Westinghouse Electric Co bankruptcy filing expected this week, consumer advocates said. U.S. nuclear developer Westinghouse is the lead contractor building two nuclear reactors each in Georgia and South Carolina, both of...

  • NEW YORK, March 28- U.S. prosecutors on Tuesday charged an executive at a Turkish state-owned bank with participating in a multi-year scheme to violate U.S. sanctions against Iran, escalating a case that has added to tensions between the United States and Turkey. Magistrate Judge James Francis in Manhattan, a day after being arrested at John F. Kennedy...

  • March 28- The two buyout firms that own Pharmaceutical Product Development LLC are in advanced talks to sell some of their stakes in the U.S. clinical trials firm at a price that would value the entire company at more than $9 billion, including debt, people familiar with the matter said. Carlyle and Hellman& Friedman are in talks to sell minority stakes in PPD to...

  • NEW YORK/ MONTREAL, March 28- The leading international airline trade organization's top official on Tuesday denounced U.S. and British bans on some electronic devices on flights from several Muslim-majority countries, criticizing the policies as a move toward "more restricted borders and protectionism." Alexandre de Juniac, director general and chief...

  • NEW YORK, March 28- U.S. prosecutors on Tuesday charged an executive at a Turkish state-owned bank with participating in a multi-year scheme to violate U.S. sanctions against Iran, escalating a case that has added to tensions between the United States and Turkey. Magistrate Judge James Francis in Manhattan, a day after being arrested at John F. Kennedy...

  • NEW YORK— Wells Fargo has agreed to pay $110 million to settle a class-action lawsuit over up to 2 million accounts its employees opened for customers without getting their permission, the bank announced Tuesday. It's the first private settlement that Wells has reached since the company paid $185 million to federal and California authorities late last year.

  • March 28- Wells Fargo& Co said it agreed in principle to pay $110 million to settle a lawsuit by customers challenging its opening of accounts without their permission, a practice that led to a scandal that cost the bank's chief executive his job. That settlement with the U.S. Consumer Financial Protection Bureau and Los Angeles City Attorney Mike Feuer prompted...

  • March 28- Wells Fargo& Co said it agreed in principle to pay $110 million to settle a lawsuit by customers challenging its opening of accounts without their permission, a practice that led to a scandal that cost the bank's chief executive his job. The bank said on Tuesday it expects the settlement to resolve claims in 11 other pending class actions.

  • March 28- Wells Fargo& Co said it agreed in principle to pay $110 million to settle a lawsuit by customers challenging its opening of accounts without their permission, a practice that led to a scandal that cost the bank's chief executive his job. The bank said on Tuesday it expects the settlement to resolve claims in 11 other pending class actions.

  • TOKYO, March 29- U.S. nuclear developer Westinghouse Electric Co plans to seek bankruptcy protection from creditors on Tuesday as it struggles to limit losses that have thrown its Japanese parent Toshiba Corp into crisis, people familiar with Toshiba's thinking said. Pittsburgh- based Westinghouse, crippled by cost overruns at two U.S. power plant projects in...

  • NEW YORK, March 28- Wall Street followed gains in stocks globally on Tuesday after U.S. consumer confidence soared to a more than 16- year high, while the U.S. dollar bounced from a four-month low to post its best day in nearly a month. On Wall Street, cyclical sectors led the way higher after the strong consumer confidence data boosted investor views that the U.S....

  • MELVILLE, N.Y. _ Verint Systems Inc. on Tuesday reported fiscal fourth-quarter earnings of $8 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share. Verint expects full-year earnings to be $2.70 per share.

  • NEW YORK, March 28- The dollar rose on Tuesday, bouncing from 4- month lows, as a top Federal Reserve official reinforced expectations of more U.S. rate hikes to come while political uncertainties surrounding Britain's exit from the EU pressured European currencies. Fed Vice Chairman Stanley Fischer said two more increases of U.S. overnight interest rates this...

  • Trump will attend a G20 summit in Hamburg, Germany, on July 7 and 8, the White House says after Trump spoke by phone to German Chancellor Angela Merkel. U.S. Senate Majority Leader Mitch McConnell says the Senate will have a final vote on April 7 on Trump's nominee for the Supreme Court, Neil Gorsuch, even as more Democrats oppose his confirmation.

  • Carnival Corp., up 40 cents to $59.27. Darden Restaurants Inc., up $7.03 to $82.61. Tesla Inc., up $7.23 to $277.45.

  • NEW YORK, March 28- U.S. Lou Brien, market strategist at DRW Trading in Chicago, said gains in the U.S. stock market and the strong consumer confidence data turned the corner for Treasury debt yields. "This is an impressive gain... and a notable disconnect with 10- year yields under 2.38 percent, but it surely reflects the ongoing bid for equities," said Ian Lyngen, head of...

  • NEW YORK, March 28- U.S. Lou Brien, market strategist at DRW Trading in Chicago, said gains in the U.S. stock market and the strong consumer confidence data turned the corner for Treasury debt yields. "This is an impressive gain... and a notable disconnect with 10- year yields under 2.38 percent, but it surely reflects the ongoing bid for equities," said Ian Lyngen, head of...