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Top News & Analysis New York

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  • *Investors warily eye China shares after previous session's drop. Investors kept a wary eye on China, where stocks dropped on Thursday after state media reported that banks were investigating their equities exposure in the wake of the recent dramatic rout there. MSCI's broadest index of Asia-Pacific shares outside Japan was up about 0.1 percent in early...

  • BOSTON/ NEW YORK, July 30- Paul Singer's $27 billion hedge fund Elliott Associates is worried about Europe's prospects and is bracing for fresh market turbulence. In a letter to investors dated July 23 and seen by Reuters on Thursday, the New York- based firm told clients that it has returned 2.8 percent in its Elliott Associates, L.P. and 2.2 percent in its Elliott...

  • LAHAINA, Hawaii, July 30- Pacific Rim trade ministers neared the final spurt of negotiations on an ambitious free trade pact on Thursday, but differences over farm exports and monopoly periods for next-generation drugs were preventing them from reaching an elusive final deal. Ministers from the 12 countries negotiating the Trans-Pacific Partnership, which...

  • NEW YORK— A New York City jury on Thursday awarded $47.8 million to the families of two men killed in 2008 when a construction crane collapsed. The jury ordered James Lomma, the owner of the crane, and his companies to pay $32 million to the family of Ramadan Kurtaj and $15.8 million to the family of Donald Leo. In the May 2008 collapse on Manhattan's Upper East Side,...

  • NEW YORK, July 30- American Express Co was accused in a lawsuit on Thursday of blindsiding investors with the loss of a crucial contract with Costco Wholesale Corp after having failed to reveal how significant that business had become. Costco, which sells everything from jewelry to fresh produce at its cavernous members-only stores, had an exclusive...

  • July 30- Scientific instruments maker PerkinElmer Inc posted a surprise rise in second-quarter revenue as it benefited from demand for its new products. Revenue from PerkinElmer's environmental health business, which sells environmental and food safety testing products, increased about 4 percent to $222.4 million in the quarter ended June 28.

  • ANGOLA, N.Y. _ Evans Bancorp Inc. on Thursday reported second-quarter net income of $1.7 million. Evans Bancorp shares have fallen slightly more than 1 percent since the beginning of the year. Keywords: Evans Bancorp, Earnings Report.

  • NEW YORK— In one of his first forays into policy as a presidential candidate, Republican Donald Trump calls for the deportation of all 11 million people estimated to be living in the country illegally while allowing the "really good people" to return. Deporting them all "is impractical and is opposed by a large majority of Americans," said Clint Bolick, an Arizona...

  • RIO DE JANEIRO, July 30- A U.S. judge earlier this month kept alive a lawsuit against Brazil's Petrobras in part because he doubted the state-led oil company's contention that some assurances it made about ethics and governance amounted to "mere puffery." District Judge Jed Rakoff, of Manhattan federal court, described puffery as a sort of harmless corporate...

  • The charges against Angel Angulo, 25, of Riverside, and Crystal Banuelos, 28, of Bloomington, were announced on Thursday by U.S. Attorney Paul Fishman in New Jersey, where Michaels also has stores. The scheme lasted from February to May 2011, when the defendants possessed 179 counterfeit cards in New Jersey, and affected seven banks including Bank of America Corp,...

  • NEW YORK _ Griffon Corp. on Thursday reported fiscal third-quarter net income of $10.9 million. On a per-share basis, the New York- based company said it had net income of 23 cents. This story was generated by Automated Insights using data from Zacks Investment Research.

  • NEW YORK— In a story July 29 about Moelis earnings __ generated by Automated Insights using data from Zacks Investment Research __ The Associated Press reported erroneously the company's adjusted earnings. Moelis posts 2nd- quarter profit of $7.1 million. NEW YORK— Moelis& Co. on Wednesday reported second-quarter net income of $7.1 million, after reporting a...

  • July 30- U.S. film studio Relativity Media LLC, which counts the award-winning "The Fighter" among its films, filed for Chapter 11 bankruptcy protection on Thursday and said it would pursue a sale of the company to a group of its lenders. The company said it plans to release the films "Masterminds" and "Kidnap" and its television unit's "Limitless" will debut on CBS later...

  • NEW YORK— It hasn't been a good week for social media companies, not even for the usually reliable professional networking service LinkedIn Corp.. LinkedIn's stock fell $17.44, or 7.7 percent, to $209.71 in after-hours trading. LinkedIn's adjusted earnings of 55 cents per share were well above the 30 cents that analysts polled by FactSet had expected for the...

  • NEW YORK, July 30- The dollar touched one-week highs and shorter-term U.S. The euro fell 0.50 percent against the dollar to $1.0928, which helped the dollar index rise 0.55 percent at 97.496 after touching 97.773, its highest since July 22. "The latest GDP report confirms the Fed's narrative that the first-quarter weakness was transitory," said Ian Gordon, G10...

  • NEW YORK— WebMD Health Corp. on Thursday reported second-quarter earnings of $13.4 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share. Six analysts surveyed by Zacks expected $147.2 million.

  • NEW YORK— Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market:. Nokia Corp., up 44 cents to $7.03. Wynn Resorts Ltd., up $8.09 to $104.12.

  • NEW YORK— Imagine the bond market as a crowded swimming pool, except it's one where the water level drops whenever someone tries to leave. By the time you attempt to get out, you're stuck at the bottom, unable to exit because the ladder is 10 feet above your head. "I think liquidity is misunderstood, and I think it is often taken for granted," says Matt Freund, chief...

  • SILVER SPRING, Md.— Hillary Rodham Clinton on Thursday offered some support for a proposal in the Senate that would raise the federal minimum wage to $12 an hour, hinting that the higher rate sought by labor unions doesn't have enough support. Patty Murray that would increase the rate to $12 an hour by 2020, which is several dollars less than the $15 backed by labor...

  • NEW YORK, July 30- The U.S. Department of Justice is in the process of hiring a compliance expert to help evaluate whether to charge corporations that fail to detect and prevent wrongdoing by employees, a top department official said on Thursday. The Justice Department recently negotiated plea agreements with major banks, including UBS AG and Barclays Plc, after...