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Top News & Analysis North America

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  • JACKSON HOLE, Wyo., Aug 28- Recent market turmoil should not delay the Federal Reserve from raising interest rates at least once, given that the global equities selloff and China's economic slowdown have had little effect on the U.S. economy, a top Fed official said on Friday. Market volatility has sowed doubts over the timing of the rates "liftoff," particularly...

  • Aug 28- Charles Schwab Corp said that customer access to online accounts was restored on Friday morning, just minutes before U.S. stock markets opened for trading. Earlier, the company said access to accounts and online trading platforms were unavailable. Earlier in the week, discount brokers Scottrade Inc and TD Ameritrade reported some order processing...

  • BRACKENRIDGE, Pa.— The United Steelworkers union planned to six rallies for workers locked out of Allegheny Technologies Inc. plants in western Pennsylvania and five other states. Industry analysts say that's a precursor to a tax on employee health plans that's set to take effect in 2018 under the Affordable Care Act championed by President Barack Obama.

  • Aug 28- Charles Schwab Corp's online trading platforms were temporarily unavailable, a spokesman for the brokerage firm said on Friday morning. The spokesman did not elaborate on the cause of the problem, and a customer service representative in Denver said Schwab did not have an estimate of when online access would be restored. Earlier in the week, discount...

  • Louis Fed President James Bullard told Bloomberg in an interview from Jackson Hole, Wyoming, where central bankers from around the world are converging for an annual meeting. But Loretta Mester, president of the Federal Reserve Bank of Cleveland, said the volatility has not changed her view that the U.S. economy was ready for a modest increase in interest rates.

  • WASHINGTON— U.S. consumers increased their spending moderately in July, as wages and salaries made their biggest jump in eight months. Spending rose 0.3 percent in July, helped by purchases of big-ticket items such as cars, the Commerce Department reported Friday. "All of the data are heading in the right direction," said Jennifer Lee, senior economist at BMO...

  • WASHINGTON— US consumer spending up moderate 0.3 percent in July, while incomes rise 0.4 percent.

  • MIAMI, Aug 28- Tropical Storm Erika lashed Puerto Rico and the Virgin Islands with heavy rain and fierce winds on Friday, moving across the Caribbean and apparently heading for the Dominican Republic, northern Haiti and eventually South Florida, the U.S. National Hurricane Center said. The greatest risk was heavy rainfall over northern Haiti and the Dominican...

  • NEW YORK— Mylan NV's shareholders approved the company's hostile pursuit of Perrigo Co. and the generic drugmaker hopes to push ahead with a formal offer soon. Perrigo, which makes over-the-counter medicines, has resisted repeated overtures from Mylan. In April, Mylan raised its offer for Perrigo to $232.23, or about $34.1 billion, in cash and stock.

  • TORONTO _ Bank of Nova Scotia on Friday reported fiscal third-quarter net income of $1.44 billion. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share. Bank of Nova Scotia shares have declined 21 percent since the beginning of the year.

  • WASHINGTON— Republican presidential candidate Donald Trump is promising to offer a plan within a month to overhaul the tax system, calling himself "king of the tax code." He's been hinting at such a plan recently, saying that wealthy Americans should pay more. Trump says hedge fund managers are big supporters of Democrat Hillary Rodham Clinton and GOP rival Jeb...

  • VIRGINIA BEACH, Va. _ Liberty Tax Inc. on Friday reported a loss of $8.5 million in its fiscal first quarter. Liberty Tax shares have declined 32 percent since the beginning of the year. Keywords: Liberty Tax, Earnings Report.

  • NEW YORK— Video game maker Activision Blizzard and airline United Continental Holdings Inc. are going to become a part of the S&P 500.. Activision Blizzard, which makes games including "World of Warcraft" and "Call of Duty," will replace Pall Corp. after the market close on Friday. United Continental will replace Hospira Inc. after the Sept. 2 market close.

  • China's main stock index fell nearly 23 percent over five days before returning to positive territory Thursday and Friday. By June, stocks were "trading at sky-high, rocket-crazy valuations," said Dickie Wong, executive director of research at Kingston Financial Group in Hong Kong. The central bank's Aug. 11 devaluation of the yuan accelerated the declines by...

  • Charles Schumer says Binghamton University has been chosen to receive $20 million in federal funding to participate in a $100 million initiative to develop high-tech electronic and computer devices. The New York Democrat announces Friday that the Department of Defense has designated the university as one of the institutions nationwide that will...

  • Regis reports 4Q loss 3 Hours Ago

    EDINA, Minn. _ Regis Corp. on Friday reported a loss of $2.6 million in its fiscal fourth quarter. The Edina, Minnesota- based company said it had a loss of 5 cents per share. For the year, the company reported that its loss narrowed to $33.8 million, or 62 cents per share.

  • COLUMBUS, Ohio— Big Lots' fiscal second-quarter results beat analysts' estimates and the discount retailer boosted its full-year earnings outlook. Big Lots earned $17.6 million, or 34 cents per share, for the period ended Aug. 1. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.

  • WASHINGTON— The Commerce Department releases its July report on consumer spending, which accounts for 70 percent of economic activity. SPENDING UP: The expectation is that spending rose 0.4 percent in July, according to a survey of economists by data firm FactSet. These analysts forecast that incomes also grew 0.4 percent in July.

  • NEWPORT BEACH, Calif.— Defense Secretary Ash Carter will announce Friday that the Pentagon is funding a new venture to develop cutting-edge electronics and sensors that can flex and stretch and could be built into clothing or the skins of ships and aircraft. Under the plan, the Pentagon will provide $75 million and industry, academia and local government will...

  • *IMF always believed Greece's debt was unsustainable. WASHINGTON/ ATHENS, Aug 28- Many of the top brass of the International Monetary Fund always had concerns about the plans to bail out Greece. He slammed IMF forecasts for Greece as overly optimistic- "Panglossian."