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Top News & Analysis New York

  • March 28- International offshore driller Ocean RIG UDW Inc filed for Chapter 15 bankruptcy protection in a U.S. court late Monday, hit by cancellations as major oil producing customers withdrew from deep water projects amid falling oil prices. The Cayman Islands holding company, which spent heavily on new drill ships earlier in the decade, said lower oil prices...

  • TRENTON, N.J.— U.S. regulators have approved the first powerful, injected medicine to treat serious cases of the skin condition eczema. The Food and Drug Administration on Tuesday approved Dupixent for moderate or severe eczema, which causes red, fiercely itchy rashes on the face, arms and legs. Dupixent will have an initial list price of $37,000 per year, according...

  • NEW YORK— Tech billionaire Elon Musk is announcing a new venture called Neuralink focused on linking brains to computers. The company plans to develop brain implants that can treat neural disorders— and that may one day be powerful enough to put humanity on a more even footing with possible future superintelligent computers, according to a Wall Street Journal...

  • WASHINGTON, March 28- U.S. consumer confidence surged to a more than 16- year high in March amid growing labor market optimism while the goods trade deficit narrowed sharply in February, suggesting the economy was regaining momentum after faltering at the start of the year. "With confidence upbeat and several other signals related to consumer spending in...

  • *Wall Street shares up as banks gain. NEW YORK, March 28- Stocks recovered on Tuesday as investors chose to look beyond U.S. Advancing shares in Asia and Europe helped boost the MSCI's all-country world equity index, which hit a near-two-week low on Monday.

  • March 28- A black production worker at Tesla Inc has filed a lawsuit claiming his job quickly turned from "a dream come true" to a nightmare when he was subjected to racial epithets and threats of violence from white coworkers. DeWitt Lambert says Tesla supervisors at the Fremont, California, factory where he has worked building electric cars since 2015 ignored...

  • NEW YORK— Bottled water is starting to seem more like soda, and sometimes taste like it, too. Also running their first Super Bowl ads were Fiji and Bai Brands, which sell "enhanced waters" made with fruit juice and stevia sweetener. Bottled water has been gaining ground for years, and overtook soda as the No. 1 drink in the U.S. by sales volume last year, industry tracker...

  • *Libya supply cut by a third due to armed faction action. Iran minister says OPEC deal "likely" to be extended. NEW YORK, March 28- Oil prices rose nearly 2 percent on Tuesday after a severe disruption to Libyan oil supplies and on comments from officials suggesting OPEC could extend its production cuts deal to the end of the year.

  • *Fed Chair Janet Yellen to speak later in the day. March 28- The Dow was on track to snap an eight-day losing streak on Tuesday as financial stocks rose on the back of strong consumer data, offsetting losses in the healthcare sector. "This market is driven by two things- the hope of policy agenda getting put into place and improving fundamentals," said Art Hogan, chief...

  • DETROIT— General Motors has rejected a proposal from investor David Einhorn to split its stock into two classes. The plan from Einhorn's Greenlight Capital hedge fund would create one dividend-paying stock and one "capital allocation" stock. The New York- based hedge fund intends to submit the non-binding plan at the GM annual shareholders' meeting later this...

  • NEW YORK, March 28- Callan Olive is about as adult as you can get for a 26- year-old. She and her husband, Isaac, who is also 26, own a house near Chicago where they live with their 4- year-old, 2- year-old and newborn. There are 4.75 million more 26- year-olds like the Olives out there right now, which makes young adults born in 1990 the largest single age group in the United...

  • NEW YORK, March 28- Industrious, the second-biggest U.S. coworking firm by number of locations, said on Tuesday it acquired a search website for spare office space and raised $25 million in fresh funds as investors bet the shared-office industry grows and goes mainstream. The announcement comes a week after industry leader WeWork Cos Inc raised $300 million...

  • NEW YORK— Amazon is testing a grocery pickup service in Seattle. The service is being tested in two locations in Seattle, where Amazon is headquartered. At an Amazon Go convenience store in Seattle, items selected are automatically monitored and added to a virtual cart so shoppers can skip the checkout.

  • Banks and other financial companies led U.S. stock indexes sharply higher Tuesday, snapping an eight-day losing streak for the Dow Jones industrial average. The rally was broad, with materials and industrial companies among the biggest gainers. Investor optimism that Congress and the White House are pivoting to tax cuts and other business-friendly policy...

  • ROCHESTER, N.Y.— The World Video Game Hall of Fame's 2017 finalists span decades and electronic platforms, from the 1981 arcade classic "Donkey Kong" that launched Mario's plumbing career to the 2006 living room hit " Wii Sports," that made gamers out of grandparents. The hall of fame at The Strong museum in Rochester says Tuesday that 12 video games are under...

  • NEW YORK, March 28- Gold bullion investment will rise for the fourth straight year in 2017 as global political and economic factors are forecast to maintain buying interest, CPM Group said on Tuesday. "There has been a return of opportunistic generalist investors who had exited gold in late 2011 and early 2012," New York- based CPM Group said in its Gold Yearbook...

  • DUBAI, March 28- Saudi Arabia's decision to cut tax paid by national oil giant Saudi Aramco has increased its value by $1 trillion, an analyst estimated on Tuesday ahead of Aramco's initial public offer of shares, expected to be the world's largest. "Assuming long-term oil prices averaging $75 per barrel, the valuation of the company increases from $0.4 trillion...

  • NEW YORK— Carnival Corp.' s profit more than doubled in the first-quarter as lower fuel costs and higher revenue helped it top Wall Street forecasts. The Miami- based cruise line's profit surged to $352 million, or 48 cents per share. The results surpassed Wall Street expectations of 35 cents a share, according to the average estimate of eight analysts surveyed by...

  • *To consult regulators, carriers on refurbished Note 7 s. SEOUL, March 28- Tech giant Samsung Electronics plans to sell refurbished versions of the Galaxy Note 7 smartphones, the company said late on Monday, signaling the return of the model pulled from markets last year because of fire-prone batteries. Samsung's announcement that revamped Note 7 s will go back on...

  • NEW YORK, March 28- Tech giant Samsung Electronics Co Ltd will not be offering any refurbished Galaxy Note 7 smartphones for sale or rent in the United States, the company told Reuters. Samsung said on Monday it would sell refurbished versions of the Note 7, which were permanently pulled from markets globally last year roughly two months after their launch due to...