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Top News & Analysis North America

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  • *Refinery outages, Yemen tensions and storm watch fuel gains. NEW YORK, Aug 28- U.S. crude rose 6 percent on Friday, notching its first weekly gain in two months, after a rally in gasoline from refinery outages and concerns about strife in Yemen fed a second frenzied day of short-covering in oil. "A severely oversold and shorted oil market is creating a bid for covering...

  • US oil prices climb again after Thursday's big jump Friday, 28 Aug 2015 | 3:34 PM ET

    NEW YORK— Oil prices surged again Friday, a day after recording their biggest gain in more than six years. U.S. crude rose 6.3 percent to finish at $45.22 per barrel after climbing 10.3 percent on Thursday. The price of U.S. oil averaged more than $90 a barrel from 2011 through 2014. On Monday, U.S. crude closed below $40 a barrel for the first time since February 2009.

  • Aug 28- Wall Street was moderately lower on Friday afternoon after comments by a top Federal Reserve official suggested that a September rate rise was more likely than some investors expected. Many on Wall Street have hoped the recent global market turbulence and worries about China's economy would lead the Fed to hold off raising rates, an expectation...

  • The U.S. Agriculture Department, which oversees the Forest Service, is spending more than $150 million a week beating back several dozen blazes, he said. Senator Ron Wyden, an Oregon Democrat who is co-sponsor of a bipartisan bill that would assign national disaster status to the largest 1 to 2 percent of wildfires, freeing up emergency funding and preventing...

  • *Gold down 2.3 pct for the week. *Palladium posts largest two-day gain since 2008. NEW YORK/ LONDON, Aug 28- Gold rose on Friday as technical indicators and suggestions the U.S. central bank may delay a rate rise provided support, but the metal was still on track to post its biggest weekly drop in five weeks amid dollar strength and strong U.S. economic data.

  • NEW YORK, Aug 28- After a dizzying two weeks that saw a rapid plunge and rebound in equity prices, investors are looking forward to a week of economic data that may provide clarity on the likelihood of a near-term U.S. interest rate hike and help tamp down the market's recent wild swings. Car sales, construction spending, the Federal Reserve's "beige book" and jobs...

  • DETROIT— Dan Gilbert's ownership presence in downtown Detroit has kept growing, with the addition of a vacant 38- story office tower and adjacent buildings to his stable of properties. Book Tower, the attached 13- floor Book Building and an adjacent two-story community center have been bought by Bedrock Real Estate Services. "This project is going to be one of...

  • NEW WINDSOR, N.Y.— A pilot died when his propeller-driven stunt plane crashed while he was practicing tricks for a weekend air show in New York's Hudson Valley, state police said Friday. Trooper Steven Nevel said the accident happened around 2 p.m. Friday at Stewart International Airport in the Orange County town of New Windsor, where the New York Air Show is...

  • EPA: Clean water rule in effect despite court ruling Friday, 28 Aug 2015 | 2:37 PM ET

    The EPA says the rule, which took effect Friday in more than three dozen states, will safeguard drinking water for millions of Americans. The House has ignored a White House veto threat and passed a bill to block it, and a Senate committee has passed a measure that would force the EPA to withdraw and rewrite it. The senators— two Democrats and two Republicans— said in an...

  • Carter said funding for the Obama administration's newest manufacturing institute would go to the FlexTech Alliance, a consortium of 162 companies, universities and other groups, from Boeing, Apple and Harvard, to Advantest Akron Polymer Systems and Kalamazoo Valley Community College. He was speaking at NASA's Ames Research Center in the heart of Silicon...

  • DES MOINES, Iowa— Federal prosecutors prevailed Friday in their yearlong fight to force Google Inc. to turn over the emails of an indicted Republican consultant with close ties to Ron and Rand Paul. District Judge John Jarvey rejected a request to quash a warrant ordering Google to give the FBI the contents of Jesse Benton's Gmail account, which he used to work on...

  • ST. PAUL, Minn.— There were no quick answers Friday for UCare or Minnesota officials in the Minneapolis health care provider's case against the state, as a Minnesota judge said he'll decide sometime before a key deadline next week whether to give the company more time to win back its public health plan contracts. During the case's first hearing Friday, Ramsey...

  • *U.S. heading in the direction of rate hike- Fed's Fischer. Aug 28- U.S. stocks looked set to snap a two-day rally on Friday after comments by a top Federal Reserve official appeared to suggest that a September rate rise was still possible. Fed Vice Chairman Stanley Fischer said the United States was heading in the direction of higher rates and that recent economic...

  • *Refinery outages, Yemen tensions and storm watch fuel gains. NEW YORK, Aug 28- U.S. crude jumped as much as 7 percent on Friday as a rally in gasoline prices from refinery outages and concern about strife in Yemen prompted traders to scramble for a second day to cover short positions. U.S. crude's front-month was up $2.25, or 5.3 percent, at $44.81 a barrel by 1:46 p.m....

  • BOISE, Idaho— The U.S. Department of Agriculture has approved a potato genetically engineered by Idaho- based J.R. Simplot Co. to resist the pathogen that caused the Irish potato famine and that still damages crops around the world. The USDA made the announcement Friday on its website. The Russet Burbank variety the USDA approved is the second generation of...

  • ANCHORAGE, Alaska— Strong winds and high waves that pounded the northern coast of Alaska have led Royal Dutch Shell PLC to temporarily stop exploratory oil drilling in the Arctic Ocean. "Due to high wind and sea states, we have paused all critical operations in the Chukchi Sea," said spokesman Curtis Smith in an email response to questions. The eastern Chukchi Sea...

  • CALGARY, Alberta, Aug 28- Alberta's oil and gas royalty framework will remain in place until the end of 2016, Energy Minister Marg McCuaig-Boyd said on Friday, as she gave details of the panel that will review the scheme for the province's new left-leaning New Democrat government. The government also announced that Leona Hanson, mayor of the town of Beaverlodge...

  • Ian Rogers, part of a team acquired last year, is leaving Apple to take a job at an unidentified company in Europe. Apple's $3 billion acquisition of Beats last year was driven in large part by the iPhone maker's desire to draw upon the musical chops of Rogers, longtime recording executive Jimmy Iovine and hip hop artist Dr. Apple Inc. says 11 million people have...

  • Business events scheduled for the coming month Friday, 28 Aug 2015 | 1:46 PM ET

    WASHINGTON— Institute for Supply Management releases its manufacturing index for August, 10 a.m.; Commerce Department releases construction spending for July, 10 a.m.. WASHINGTON— Labor Department releases second-quarter productivity data, 8:30 a.m.; Commerce Department releases factory orders for July, 10 a.m.; Federal Reserve releases Beige Book, 2 p.m..

  • *Doubts about China persist despite stabilization. NEW YORK, Aug 28- U.S. So I wouldn't want to go ahead and decide right now what the case is: more compelling, less compelling, etcetera, "Fed Vice Chairman Stanley Fischer told CNBC television on Friday when asked about the prospect of a September rate hike.