Top News & Analysis New York

  • NEW YORK, Oct 1- Texas businessman Sam Wyly has agreed to pay $198.1 million to resolve claims by U.S. securities regulators that he engaged in a long-running securities fraud to hide trades in companies he controlled using offshore trusts, according to a court filing. The settlement is subject to approval by SEC commissioners and a federal bankruptcy judge in...

  • MADRID, Oct 1- Amancio Ortega, Europe's richest man and founder of global fashion group and Zara owner Inditex, has bought one of Madrid's most famous skyscrapers for 490 million euros through his property investment arm, a source said. Pontegadea Inmobiliaria declined to comment on the reported purchase of the tower- known as " Cepsa Tower" after the oil refiner...

  • Oct 1- An experimental biotech drug developed by Johnson& Johnson proved more effective at clearing moderate to severe cases of the skin condition plaque psoriasis than a placebo or Abbvie Inc's big-selling Humira, according to data from a late stage study presented on Saturday. Andrew Blauvelt, lead researcher of the Phase III trial from the Oregon Medical...

  • NEW YORK, Sept. 30- A federal jury in Texas on Friday night ordered Apple Inc to pay more than $302 million in damages for using VirnetX Holding Corp's patented internet security technology without permission in features including its FaceTime video conferencing application. The verdict came in a new trial in Tyler, Texas that had been ordered by the judge in the...

  • SYDNEY- Reserve Bank of Australia holds interest rate meeting- 0330 GMT. AUCKLAND, New Zealand- Federal Reserve Bank of Chicago President Charles Evans speaks on current economic events and monetary policy before the CFA Society, New Zealand Luncheon- 2350 GMT. CHARLESTON- Federal Reserve Bank of Richmond President Jeffrey Lacker speaks on "Economic Outlook,...

  • SYDNEY- Reserve Bank of Australia holds interest rate meeting- 0330 GMT. AUCKLAND, New Zealand- Federal Reserve Bank of Chicago President Charles Evans speaks on current economic events and monetary policy before the CFA Society, New Zealand Luncheon- 2350 GMT. CHARLESTON- Federal Reserve Bank of Richmond President Jeffrey Lacker speaks on "Economic Outlook,...

  • NEW YORK, Sept 30- Puerto Rico's newly created federal oversight board set an Oct. 14 deadline for the island's governor to draft a fiscal turnaround plan on Friday, as its first public meeting was disrupted by angry protesters. The board asked Governor Alejandro Garcia Padilla to present a plan laying out his vision for stabilizing Puerto Rico, which is...

  • NEW YORK, Sept 30- Deutsche Bank will likely cast a pall over equity markets next week as the largest German lender navigates a possible multi-billion dollar settlement with the U.S. Department of Justice over the sale of mortgage-backed bonds. "While it is in the headlines, it is an overhang," said Art Hogan, chief market strategist at Wunderlich Securities in New...

  • NEW YORK— Starting Wednesday, J.C. Penney Co. says it will be offering refunds to shoppers who purchased certain towels and a comforter set though it still is unable to figure out whether they're actual knockoffs. Penney's move marks the latest chapter in a controversy that has caught other major retailers like Target, Bed Bath& Beyond, and Wal-Mart over whether...

  • NEW YORK— Yields on municipal and Treasury bonds sagged this week on concerns about the health of Germany's largest bank, before retracing their steps on Friday. The 10- year yield on the AP Municipal Bond index was 1.883 percent as of 5 p.m. Eastern time on Friday, after falling as low as 1.840 percent earlier in the week. Most of the action in the U.S. bond market was...

  • Sept 30- Delta Air Lines Inc and its pilots union have reached an agreement in principle for a new contract that has been more than a year in the making, the parties said on Friday. About 65 percent of voting pilots turned down the last tentative agreement in July 2015. Following the rejection, the leader of Delta's unit of the Air Line Pilots Association,...

  • NEW YORK— U.S. stocks climbed Friday as banks made a rapid recovery following a steep fall a day ago. Investors hoped Deutsche Bank and the financial system in general were in better shape than they had feared. The Dow Jones industrial average surged 164.70 points, or 0.9 percent, to 18,308.15.

  • Sept 30- Delta Air Lines Inc and its pilots union have reached an agreement in principle for a new contract that has been more than a year in the making, the parties said Friday. The deal, reached with the help of U.S. federal mediators, still requires the approval of union leaders before it can become a so-called "tentative agreement," which pilots can vote to ratify or...

  • Costco Wholesale Corp., up $5.02 to $152.51. Mentor Graphics Corp., up $1.75 to $26.44. Lexmark International Inc., up $4.83 to $39.96.

  • *Brent crude slips after rally on OPEC agreement to cut output. Brent crude prices fell as traders booked profits on a rally underpinned by an OPEC agreement to reduce output for the first time in eight years to address global oversupply. "We are very much being driven by headline risks at Deutsche Bank," said Gennadiy Goldberg, interest rates strategist at TD...

  • NEW YORK, Sept 30- Wall Street rallied on Friday, lifted by a surge in Deutsche Bank shares and financial stocks after concerns eased about the health of the German bank. Germany's largest bank has been engulfed by crisis after earlier this month receiving a demand for up to $14 billion by the Department of Justice. U.S. stocks had sold off sharply on Thursday, after...

  • *OPEC output likely at record in Sept, diluting Algeria deal. NEW YORK, Sept 30- Oil prices settled mixed on Friday while posting their second straight monthly gain on OPEC's planned output cuts, even as skepticism about the cartel's pledge grew after data suggested another record high in its production. A Reuters survey on Friday found that OPEC output likely...

  • NEW YORK— A woman has filed a lawsuit against JetBlue Airways for mixing up her 5- year-old son with another boy and flying him to the wrong city. According to the court papers, JetBlue staffers at Logan escorted Andy to a woman he had never seen before and told him he was being reunited with his mother. It took three hours for JetBlue to sort out what had happened and...

  • NEW YORK, Sept 30- U.S. The German lender's shares ended up 6.4 percent in Europe, while its American Depositary Receipts were up 15 percent, after plunging 7 percent the previous session. "Deutsche Bank closed the week on a strong note, but its struggles will leave an impact on fixed income for at least the first two weeks of October," said Jim Vogel, interest rate...

  • NEW YORK, Sept 30- U.S. The German lender's shares ended up 6.4 percent in Europe, while its American Depositary Receipts were up 15 percent, after plunging 7 percent the previous session. "Deutsche Bank closed the week on a strong note, but its struggles will leave an impact on fixed income for at least the first two weeks of October," said Jim Vogel, interest rate...