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Top News & Analysis New York

  • MEXICO CITY, June 22- Mexico's central bank board made a divided decision to raise interest rates on Thursday and policymakers suggested that they may have raised borrowing costs enough to contain a spike in inflation. Banco de Mexico raised its benchmark rate by a quarter percentage point to 7.00 percent, as expected by all 17 analysts surveyed by Reuters last...

  • Flooding and road closures stretched from east Texas into northwestern Florida after Cindy made landfall early on Thursday near the Louisiana- Texas border and weakened to a tropical depression, the National Weather Service said. At least two tornadoes were reported near Birmingham, Alabama, destroying several buildings and injuring at least four people,...

  • June 22- It took less than 24 hours for Warren Buffett, one of the world's savviest dealmakers, to make a C $360 million paper profit by propping up a major Canadian lender on life support. Home Capital joined Bank of America Corp, General Electric Co, Goldman Sachs Group Inc and other companies that have welcomed Buffett's largesse, accepting a C $2 billion credit...

  • 2017@ NEW YORK, June 22- Investors pulled back from U.S.-based stock funds after pouring the most cash into those investments since February the previous week, Lipper data showed on Thursday. Withdrawals of $2.2 billion struck U.S.-based equity mutual funds and exchange-traded funds during the week ended June 21, the research service said, during a...

  • WASHINGTON/ NEW YORK, June 22- The 34 largest U.S. banks have all cleared the first stage of an annual stress test, showing they would be able to maintain enough capital in an extreme recession to meet regulatory requirements, the Federal Reserve said on Thursday. Wall Street analysts and trade groups quickly cheered the results on Thursday, saying regulators...

  • *Qatar Airways interested in buying 10 pct of American Airlines. *Qatar Airways says will first buy 4.75 pct. The move by Qatar Airways would expand its investments in North America as Qatar is embroiled in the region's worst diplomatic crisis in years and is locked in an airspace rights row with three other Gulf states.

  • American Airlines Group Inc., up 54 cents to $48.97. Oracle Corp., up $3.97 to $50.30. Staples Inc., up 54 cents to $9.20.

  • WASHINGTON/ NEW YORK, June 22- The 34 largest U.S. banks have all cleared the first stage of an annual stress test, showing they would be able to maintain enough capital in an extreme recession to meet regulatory requirements, the Federal Reserve said on Thursday. "This year's results show that, even during a severe recession, our large banks would remain well...

  • NEW YORK, June 22- New York City officials said on Thursday they will keep lobbying for the right to use a new procurement method to build big public infrastructure projects faster and cheaper after the state legislature failed to authorize it. "We will continue to advocate for passage of this legislation until it becomes law," the city's Department of...

  • NEW YORK, June 22- Institutional investors remain eager to put money to work on renewable energy projects even as U.S. "Five or six years ago, funds weren't specifically targeting renewable investment; today it's a key component of infrastructure investment," said David Giordano, managing director and head of North American, Latin American and Asia Pacific...

  • CARACAS, June 22- Venezuela's central bank is seeking to sell fixed-income securities to Nomura Holdings Inc as a way of raising cash amid an economic crisis, an opposition deputy and a finance industry source said on Thursday, only weeks after a similar deal embroiled the Japanese bank in controversy. The talks revolve around $710 million in securities known...

  • *Berkshire Hathaway to provide new C $2 billion loan. TORONTO, June 22- Warren Buffett's Berkshire Hathaway Inc is providing a C $2 billion loan to Home Capital Group Inc and taking a 38 percent stake in the mortgage lender, a move which is pressuring short sellers who targeted the stock as Canada's housing market has turned riskier. Street Capital Group closed up...

  • June 22- The S&P healthcare index rose 1 percent on Thursday, hitting its fifth consecutive record close following the release of Senate Republicans' bill to replace Obamacare, while financial and consumer staple shares ended lower. The legislation aims at curbing Medicaid funding and reshaping subsidies to low-income people for private insurance.

  • June 22- A tropical depression formerly known as Tropical Storm Cindy caused flooding on Thursday in several U.S. southeastern states, spawned a tornado that injured four people in Alabama, and cut 16 percent of Gulf of Mexico oil production. Cindy was a tropical storm when it made landfall near the Louisiana- Texas border about 3 a.m. CT Thursday, then weakened as...

  • June 22- A tropical depression formerly known as Tropical Storm Cindy caused flooding on Thursday in several U.S. southeastern states, spawned a tornado that injured four people in Alabama, and cut 16 percent of Gulf of Mexico oil production. Cindy was a tropical storm when it made landfall near the Louisiana- Texas border about 3 a.m. CT Thursday, then weakened as...

  • WASHINGTON/ NEW YORK, June 22- The 34 largest U.S. banks have all cleared the first stage of an annual stress test, showing they would be able to maintain enough capital in an extreme recession to meet regulatory requirements, the Federal Reserve said on Thursday. Although the banks, including household names like JPMorgan Chase& Co and Bank of America Corp, would...

  • TORONTO, June 22- Sears Canada Inc said on Thursday it plans to cut jobs and close about a quarter of its stores as it restructures its operations after a steady decline in sales due to competition from big-box retailers and online merchants. "It's just been baby steps toward the ultimate end," said Sally Seston, managing director at Retail Category Consultants...

  • Treasuries-backed repurchase agreement market as an alternative to the use of Libor in around $150 trillion worth of derivatives. I am confident the new reference rate chosen today by the Alternative Reference Rates Committee is based on a deep and actively traded market and will be highly robust, "Federal Reserve Board Governor Jerome Powell said in a...

  • *European shares flat, Wall Street modestly higher. Brent edged up from November lows hit in the prior session, when U.S. crude hit its lowest intraday level since August 2016, but sentiment remained negative as a supply glut has persisted despite OPEC- led cuts to output. "I would not be surprised if it breaks down, considering momentum is still in that direction as...

  • TORONTO, June 22- Sears Canada Inc said on Thursday it plans to cut jobs and close about a quarter of its stores as it restructures its operations after a steady decline in its sales due to competition from big-box retailers and online merchants. "It's just been baby steps toward the ultimate end," said Sally Seston, managing director at Retail Category Consultants...