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Top News & Analysis New York

  • Claudia Russ Anderson, former chief risk officer for the Wells Fargo branch banking unit where the sales problems occurred, was among those fired. She chose to take a personal leave from the bank in September, bank spokeswoman Mary Eshet said. The others fired by the bank were Pamela Conboy, Arizona lead regional president; Shelley Freeman, former Los Angeles...

  • American announced early Tuesday that it began selling the new fares for flights starting March 1 on 10 different routes from its hub airports in Dallas, Miami, Philadelphia and Charlotte, North Carolina. United followed suit later in the day, posting reduced fares on some flights from Minneapolis to seven of its hub cities including New York, Chicago and Los...

  • Feb 21- Buyout firm Sycamore Partners has won the auction for the e-commerce business and intellectual property of bankrupt U.S. women's apparel retailer The Limited with a bid of $26.8 million, people familiar with the matter said on Tuesday. Sycamore Partners outbid clothing firm Sunrise Brands LLC in the auction, the people said, asking not to be identified...

  • Bristol-Myers, whose shares fell 2 percent to $53.45 on Tuesday, also disclosed that it expects to post charges of $1.5 billion to $2 billion in connection with a restructuring announced in October. The New York- based drugmaker also announced a $2 billion accelerated share repurchase program it will fund through a combination of debt and cash.

  • NEW YORK— Wells Fargo's board of directors said it is firing four senior managers as part of its investigation into the bank's sales practices scandal. The board said Tuesday the four are Claudia Anderson, the former community bank chief risk officer, Pamela Conboy, the lead regional president in Arizona, Shelly Freeman, the former regional president in Los...

  • *OPEC says 90 percent of oil output cuts made in January. *OPEC wants compliance with cuts even higher- Sec-Gen. NEW YORK, Feb 21- Oil prices rose about 2 percent to near three-week highs on Tuesday after OPEC said it was sticking to its agreement to cut production and hoped compliance with the deal would be even higher as it expects other producers join its efforts to...

  • NEW YORK— More movies and cheaper options arrive online Tuesday for movie fans still needing to catch up on Oscar-nominated flicks. Watching all 46 online will cost at least $173, assuming you already have subscriptions to Netflix, Hulu, Amazon Prime or HBO Now. Focusing on just best picture and the four acting categories will still cost you nearly $70, not...

  • NEW YORK— PepsiCo will tweak the labels for some Naked juices and smoothies to make clearer what ingredients they contain. The changes should start appearing in about eight months, said Maia Kats, director of litigation for the Center for Science in the Public Interest. PepsiCo Inc. thanked CSPI for working with it and noted the ingredients will remain the same,...

  • NEW YORK— Pop-Tarts might not just be for breakfast anymore. Kellogg's is giving the public a taste of some unique flavor combinations featuring the morning time treat by transforming its New York eatery into a Pop-Tarts Cafe this week. The pop-up Pop-Tarts Cafe is open through Sunday.

  • Feb 21- Tiffany& Co on Tuesday struck a surprise deal with JANA Partners, an activist investor and now a shareholder, agreeing to add three directors to its board as the luxury retailer tries to entice younger shoppers and revive struggling sales. Tiffany, whose jewelry is a status symbol and popular among A-list celebrities and politicians, said on Feb. 5 that CEO...

  • *Popeyes up after Restaurant Brands agrees to buy company. One in every six stocks on the S&P 500 hit a new 52- week high as a rally sparked by President Donald Trump's promise of tax reforms showed no sign of fading despite concerns around valuations. "There is no doubt in anyone's mind that the market has become over extended and is due for a pullback," said Quincy...

  • Feb 21- Wall Street is pushing back against a proposed rule to force U.S. banks like Goldman Sachs Group Inc to hold more capital against investments in commodities, placing what some see as an overly restrictive limit on banks' ties to the sector. The comment letter, filed by the Securities Industry and Financial Markets Association and the Institution of...

  • In early afternoon trading, Fannie Mae shares were down 26 percent at $3.06, while Freddie Mac fell 29 percent to $2.84. By a 2-1 vote, the U.S. Circuit Court of Appeals for the District of Columbia said a lower court had correctly barred claims that the government overstepped its authority in 2012 by eliminating dividend payouts to various shareholders and...

  • NEW YORK— The historic St. Patrick's Cathedral in Manhattan has activated a geothermal plant— part of a series of environmentally friendly upgrades. The Archdiocese of New York said Tuesday that the geothermal plant is comprised of 10 wells— up to 2,200 feet deep— drilled along the north and south sides of the cathedral. The cathedral's rector, Monsignor Robert T....

  • Feb 21- The New York State Department of Financial Services said on Tuesday it was investigating whether health insurers complied with its contraceptive coverage requirements. The investigation comes after an undercover sting of 15 New York health insurers found that 11 of them provided inaccurate or misleading information about contraceptive...

  • Cleveland Fed President Loretta Mester said late on Monday she would be comfortable raising rates at this point if the economy maintained its current performance, while Market News International quoted Philadelphia Fed President Patrick Harker as saying that a March rise was on the table. Investors were awaiting more speeches from Harker and San...

  • NEW YORK, Feb 21- U.S. "Yields have rallied quite sharply off the lows," said Gennadiy Goldberg, interest rates strategist at TD Securities in New York. Our gut suggests that the Fed will want to keep jaw boning the market to price in greater probabilities of hikes and makes us lean somewhat hawkishly as a bias in terms of what to expect from the Fed, "said Ian Lyngen, head of...

  • *OPEC says 90 percent of oil output cuts made in January. *OPEC wants compliance with cuts even higher- Sec-Gen. NEW YORK, Feb 21- Oil prices rose about 2 percent to near three-week highs on Tuesday after OPEC said it was sticking to its agreement to cut production and hoped compliance with the deal would be even higher as it expects other producers join its efforts to...

  • JOHANNESBURG, Feb 21- South Africa's rand weakened on Tuesday, while stocks were little changed, with Shoprite topping the Blue-chip index after the retailer reported a rise in half-year profit. The rand traded at 13.1475 per dollar at 1502 GMT, down 0.71 percent from Monday's New York close of 13.0550, while. "The main driver today has been quite significant...

  • *Oil futures jump on OPEC stance on output cuts. Oil futures rose more than 1 percent after OPEC said it was sticking to its deal to reduce output. The rally in equity markets around the globe, led by Wall Street, has been stoked by hopes of tax cuts, infrastructure spending and looser regulations from U.S.