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Top News & Analysis New York

  • More than 1 million magnetic dry erase boards are being recalled because the metal surface can separate and pose a hazard. Other recalled consumer products include self-balancing scooters with batteries that can overheat. They were sold through Really Good Stuff catalogs nationwide and at www.reallygoodstuff.com from March 2003 through April 2017.

  • NEW YORK, July 28- Wells Fargo& Co began examining the way its auto lending unit enrolled borrowers into insurance policies a year ago, but did not plan to disclose problems it uncovered until it was ready to issue reimbursements to affected customers, its head of consumer lending told Reuters on Friday. In an interview, Franklin Codel said the business started...

  • NEW YORK, July 28- Wells Fargo& Co began examining the way its auto lending unit enrolled borrowers into insurance policies a year ago, but did not plan to disclose problems it uncovered until it was ready to issue reimbursements to affected customers, its head of consumer lending told Reuters on Friday. In an interview, Franklin Codel said the business started...

  • MOSCOW, July 28- Russia on Friday ordered the United States to cut hundreds of diplomatic staff in retaliation for a new round of U.S. sanctions, and said it was seizing two U.S. diplomatic properties. Moscow's decision, which had echoes of the Cold War, was announced by the Foreign Ministry a day after the U.S. Senate overwhelmingly approved new sanctions on Russia.

  • July 24- The Roomba robotic vacuum has been whizzing across floors for years, but its future may lie more in collecting data than dirt. Smart home lighting, thermostats and security cameras are already on the market, but Colin Angle, chief executive of Roomba maker iRobot Corp, says they are still dumb when it comes to understanding their physical environment.

  • NEW YORK— Philanthropist Laurene Powell Jobs, the widow of Apple founder Steve Jobs, is buying a majority stake in The Atlantic magazine. The Atlantic was founded in Boston in 1857. David Bradley bought it 1999 from New York Daily News publisher Mort Zuckerman for $10 million, according to an Atlantic story Friday. He moved the magazine to Washington in 2005..

  • *Shell extends Force Majeure of Nigeria's Bonny Light oil. NEW YORK, July 28- Oil prices edged up on Friday, reaching two-month highs and on track to post the strongest weekly percentage gains this year amid short covering and as investors digested signs of easing oversupply. Brent crude futures were up 86 cents at $52.35 a barrel at 11:35 a.m. EDT after reaching a...

  • WASHINGTON, July 28- The U.S. economy accelerated in the second quarter as consumers ramped up spending and businesses invested more on equipment, but persistent sluggish wage gains cast a dark shadow over the growth outlook. Gross domestic product increased at a 2.6 percent annual rate in the April-June period, which included a boost from trade, the Commerce...

  • July 28- Aircraft components maker Rockwell Collins Inc on Friday posted adjusted earnings that beat expectations, sending its shares up sharply after its first results including recently acquired aircraft interiors maker B/E Aerospace. But analysts pointed to a relatively strong quarter for Rockwell, which produced 5 percent sales growth without B/E...

  • NEW YORK— A savings program put into place under President Barack Obama and designed to get more people to put away money for retirement is being killed by the Treasury Department, which said it is too costly to maintain. Treasurer Jovita Carranza, in a release Friday. The Treasury Department said myRA savers had put away about $34 million since late 2015, and that...

  • NEW YORK, July 27- Trump Hotels, diversifying from a longtime focus on the luxury market, has about 10 hotels in the pipeline for its recently announced midscale American Idea chain, Chief Executive Eric Danziger said in an interview with Reuters. The new chain, the product of conversations last year between President Donald Trump's sons Donald Trump Jr. and Eric...

  • NEW YORK, July 28- The U.S. dollar was broadly lower on Friday as a combination of underwhelming U.S. economic data and political uncertainty kept traders biased toward the euro and other world currencies. "I think this just removes an obstacle," said Marc Chandler, chief global currency strategist at Brown Brothers Harriman& Co. "The euro bottomed yesterday in New...

  • NEW YORK, July 28- The U.S. dollar was broadly lower on Friday as a combination of underwhelming U.S. economic data and political uncertainty kept traders biased toward the euro and other world currencies. "I think this just removes an obstacle," said Marc Chandler, chief global currency strategist at Brown Brothers Harriman& Co. "The euro bottomed yesterday in New...

  • NEW YORK, July 28- The U.S. dollar was broadly lower on Friday as a combination of underwhelming U.S. economic data and political uncertainty kept traders biased toward the euro and other world currencies. "I think this just removes an obstacle," said Marc Chandler, chief global currency strategist at Brown Brothers Harriman& Co. "The euro bottomed yesterday in New...

  • NEW YORK, July 28- The U.S. dollar was broadly lower on Friday as a combination of underwhelming U.S. economic data and political uncertainty kept traders biased toward the euro and other world currencies. "I think this just removes an obstacle," said Marc Chandler, chief global currency strategist at Brown Brothers Harriman& Co. "The euro bottomed yesterday in New...

  • The brief submitted by 50 companies to the 2nd U.S. Circuit Court of Appeals in Manhattan marks the first time such a large group of businesses has backed arguments about employment discrimination that LGBT groups and the administration of former President Barack Obama have made for years. The companies asked the 2nd Circuit to revive a lawsuit by the estate...

  • NEW YORK— Former pharmaceutical CEO Martin Shkreli was portrayed both as a swindler by the government and as a well-meaning prodigy by his lawyers on the second day of closing arguments Friday at his securities fraud trial. The trial in federal court in Brooklyn "has exposed Martin Shkreli for who he really is— a con man who stole millions," Assistant U.S.

  • U.S. stocks are mostly lower after Amazon and several other big companies reported quarterly results that disappointed investors. Amazon fell 2.8 percent after its second-quarter profit fell far short of expectations as the company invested more money in its business. Stocks are opening lower as steep losses for Amazon and Starbucks drag retailers and...

  • *Russia hits back after U.S. Senate sanctions vote. MOSCOW, July 28- Russia on Friday ordered the United States to cut hundreds of diplomatic staff in retaliation for a new round of U.S. sanctions, and said it was seizing two U.S. diplomatic properties. Moscow's decision, which had echoes of the Cold War, was announced by the Foreign Ministry a day after the U.S. Senate...

  • *Second-quarter GDP rises at 2.6 percent rate. WASHINGTON, July 28- The U.S. economy accelerated in the second quarter as consumers ramped up spending and businesses invested more on equipment, but persistent sluggish wage gains cast a dark shadow over the growth outlook. Gross domestic product increased at a 2.6 percent annual rate in the April-June period,...