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Top News & Analysis New York

  • *Lead of UK PM May's Conservatives drops in YouGov poll. NEW YORK, May 26- The dollar rose to a one-week high on Friday after upbeat U.S. gross domestic product data while Britain's pound slipped after a poll showed a narrowing lead for the ruling Conservatives before elections next month. I dont think markets were looking for a revision this big, "said Sireen Harajli,...

  • NEW YORK— U.S. stocks are little changed Friday afternoon in quiet trading ahead of the Memorial Day holiday. The Russell 2000 index of small-company stocks fell 1 point, or 0.1 percent, to 1,382.. On the New York Stock Exchange, more companies rose than fell.

  • FRANKFURT/ LONDON, May 26- International buyout groups and Chinese investment funds are expected to submit bids for Israeli irrigation firm Netafim, which could fetch around $1.5 billion, within the next few weeks, two banking sources said on Friday. Private equity funds CVC and Bain Capital and Chinese investment funds Fosun International and Primavera...

  • NEW YORK, May 26- Three fossil fuel industry groups dropped their attempt to intervene in a court case over climate change this week after failing to reach an agreement on a unified legal position on climate science, court filings show. The American Petroleum Institute and the National Association of Manufacturers, prominent trade groups in the oil and gas...

  • US court fines UPS $247 million over illegal cigarette shipments

    UPS is accused of shipping over 683,000 cartons of contraband cigarettes to unlicensed wholesalers, retailers and residents since 2010.

  • WASHINGTON, May 26- The U.S. economy slowed less than initially thought in the first quarter, but there are signs it could struggle to rebound sharply in the second quarter amid slowing business investment and moderate consumer spending. Gross domestic product increased at a 1.2 percent annual rate instead of the 0.7 percent pace reported last month, the...

  • The Associated Press sent two journalists on a two-day visit to Orlando, Florida— one with perks, and one without. Scott Mayerowitz, who until recently covered the airline industry, has elite status with airlines, hotels and car rental agencies. Candice Choi, who covers the food industry, has no such perks.

  • NEW YORK, May 26- Two fossil fuel industry groups dropped their attempts to intervene in a court case over climate change this week after failing to reach an agreement on a unified legal position on climate science, court filings show. The American Petroleum Institute and the National Association of Manufacturers, prominent trade groups in the oil and gas...

  • May 25- A federal judge ordered United Parcel Service Inc to pay nearly $247 million in damages and penalties for "illegally shipping" large volumes of untaxed cigarettes in New York state and City, a court filing showed on Thursday. In total, New York state is awarded $165.8 million and plaintiff New York City is awarded $81.2 million. The federal judge in March...

  • NEW YORK— A federal judge on Thursday ordered delivery giant UPS Inc. to pay New York City and the state nearly $247 million in damages and penalties for illegally shipping cigarettes. New York state and New York City sued Atlanta- based UPS in 2015. The lawsuit accused it of having a corporate culture that favored sales opportunities over a responsibility to...

  • FRIDAY, MAY 26 MONTREUX, Switzerland- ECB Board Member Benoit Ceure participates in 24th Reunion of the Governors des Banques Centrales des Pays Francophones Organized by the Swiss National Bank- 2000 GMT. TOKYO- Bank of Japan Governor Haruhiko Kuroda speaks at the 2017 Spring Annual Meeting of the Japan Society of Monetary Economics. BRUSSELS- ECB President...

  • FRIDAY, MAY 26 MONTREUX, Switzerland- ECB Board Member Benoit Ceure participates in 24th Reunion of the Governors des Banques Centrales des Pays Francophones Organized by the Swiss National Bank- 2000 GMT. TOKYO- Bank of Japan Governor Haruhiko Kuroda speaks at the 2017 Spring Annual Meeting of the Japan Society of Monetary Economics. BRUSSELS- ECB President...

  • NEW YORK— Financial services firm USAA is adding itself to the list of companies that have pulled advertising from Sean Hannity's Fox News Channel show. Some groups have called for an advertiser boycott after Hannity's focus on a discredited story involving a murdered Democratic National Committee employee. Liberal lobby group Media Matters for America...

  • NEW YORK, May 25- U.S. fund investors offered a skeptical perspective on sky-high equity prices, yanking cash from U.S.-based stock funds for the fourth straight week, Lipper data showed on Thursday. "People seem to be kind of concerned about the political drama going on in the United States and embracing some of the growth statistics coming out of Europe," said Tom...

  • NEW YORK, May 25- A San Francisco investment fund manager pleaded guilty on Thursday to conspiring to defraud investors by fabricating an impressive investing track record, New York federal prosecutors announced. Nicholas Mitsakos, who ran a fund called Matrix Capital Markets, pleaded guilty to one count of conspiracy to commit securities fraud and wire...

  • The buyout interest in Web.com comes as its sector has become increasingly crowded, with companies such as Wix.com Ltd, Weebly Inc and Squarespace seeking to gain market share from established players such as GoDaddy Inc.. Based in Jacksonville, Florida, Web.com generated $710.5 million in revenue in 2016, compared to $543.5 million the year before.

  • NEW YORK, May 25- The S&P 500 and Nasdaq hit record closing highs on Thursday, with the market propped up by gains in the consumer discretionary sector after strong reports from Best Buy and other retailers. The discretionary index gained 0.9 percent, while the S&P 500 retail index was up 1.6 percent, its best day since Dec. 7. Tommy Hilfiger owner PVH was the...

  • The bank's wealth management unit, known as Wells Fargo Advisors, will increase recruiting offers by as much as 50 percent, according to two people briefed on the changes who asked not to be named because they were not authorized to discuss them publicly. "Attracting the industry's top talent will always be a priority for Wells Fargo Advisors," said spokeswoman...

  • The case involves Structured Trust Advantaged Repackaged Securities, or STARS. Wells Fargo said the structure exempted it from tax, which the IRS disputed. Wells Fargo says it's reviewing the ruling and determining its next steps.

  • Brown-Forman Corp., down $2.74 to $51.60. PVH Corp., up $4.94 to $106.98. Best Buy Co., up $10.83 to $61.25.