Top News & Analysis United States

  • CHICAGO, Sept 30- S&P Global Ratings dropped Illinois' credit rating one notch to BBB on Friday and warned it could fall further absent a long-term solution that deals with the state's chronic structural budget deficit and pension woes. The impasse, along with a $111 billion unfunded pension liability and a growing pile of unpaid bills have pounded Illinois'...

  • BERLIN, Sept 30- German Economy Minister Sigmar Gabriel heads to Iran next week with a planeful of industry executives keen to rebuild trade ties, but remaining U.S. sanctions and political concerns are holding back a hoped-for business boom. Tehran said there could be no precondition for Iran- Germany relations and that it rejected the interference of any...

  • California regulators have changed course and opened a pathway for the public to get self-driving cars of the future that lack a steering wheel or pedals. But, in a shift, the state's Department of Motor Vehicles said in a revision of draft regulations released late Friday that the most advanced self-driving cars would no longer be required to have a licensed...

  • SAN FRANCISCO— Volkswagen has agreed to pay its U.S. dealers up to $1.2 billion to compensate them for losses they said they suffered as a result of the company's emissions cheating scandal, according to a settlement agreement filed Friday in federal court in San Francisco. That deal calls for it to spend up to $10 billion buying back or repairing about 475,000...

  • SYDNEY- Reserve Bank of Australia holds interest rate meeting- 0330 GMT. AUCKLAND, New Zealand- Federal Reserve Bank of Chicago President Charles Evans speaks on current economic events and monetary policy before the CFA Society, New Zealand Luncheon- 2350 GMT. CHARLESTON- Federal Reserve Bank of Richmond President Jeffrey Lacker speaks on "Economic Outlook,...

  • SYDNEY- Reserve Bank of Australia holds interest rate meeting- 0330 GMT. AUCKLAND, New Zealand- Federal Reserve Bank of Chicago President Charles Evans speaks on current economic events and monetary policy before the CFA Society, New Zealand Luncheon- 2350 GMT. CHARLESTON- Federal Reserve Bank of Richmond President Jeffrey Lacker speaks on "Economic Outlook,...

  • The U.S. Department of Commerce is due to cede stewardship of ICANN, or the Internet Corporation for Assigned Names and Numbers, as scheduled after a lawsuit seeking to halt the transition was denied by a federal judge in Texas on Friday. The lawsuit filed on Wednesday against the federal government by the Republican states of Arizona, Texas, Nevada and Oklahoma...

  • *China corn prices have dropped more than 20 pct in past year. *China government has not responded to request for comment. BEIJING, Sept 30- China has given approval to at least two companies to export corn, trading sources said, in a radical move by the world's No. 2 producer to cut its ballooning surplus and unleash more supply into a saturated global market.

  • Sept 30- Accounting software maker BlackLine Inc filed for an initial public offering with U.S. securities regulators on Friday, looking to ride on the recent success of technology offerings in a relatively quiet year for IPOs. Los Angeles- based BlackLine, founded in 2001 by Chief Executive Therese Tucker, counts Coca-Cola Co, Under Armour and Dow Chemical Co...

  • WASHINGTON— GlaxoSmithKline PLC has agreed to pay $20 million to resolve U.S. regulators' allegations that the pharmaceutical giant's China operations bribed officials to boost drug sales. The SEC said that between 2010 and 2013, employees of GSK's China- based subsidiary and a joint venture in the country channeled money and gifts to officials, including...

  • The FAA does a lengthy review of all airlines every five years but moved up its inspection of Allegiant by two years after an aborted takeoff, a plane that nearly ran out of fuel, and other events. Allegiant declined to publicly release its response to the FAA. A spokesman for the FAA, Ian Gregor, said the agency received Allegiant's response and found it sufficient.

  • NEW YORK, Sept 30- Puerto Rico's newly created federal oversight board set an Oct. 14 deadline for the island's governor to draft a fiscal turnaround plan on Friday, as its first public meeting was disrupted by angry protesters. The board asked Governor Alejandro Garcia Padilla to present a plan laying out his vision for stabilizing Puerto Rico, which is...

  • The stake would make the consortium the third largest shareholder in SeaWorld, according to Thomson Reuters Data. SeaWorld, which operates marine parks in San Diego, Orlando and San Antonio, faced criticism after the release of the 2013 documentary "Blackfish," which depicted the captivity and public exhibition of killer whales as inherently cruel.

  • Activist investor Starboard Value LP in April called on Depomed to explore a sale after disclosing a stake of close to 10 percent. The ruling prevents Actavis, Alkem Laboratories Ltd and Roxane Laboratories Inc from selling generic versions of Nucynta until 2025, the company said. Sales of Nucynta, which Depomed acquired in early 2015 from Janssen...

  • Deutsche Bank AG branch in Boblingen, Germany

    U.S. stocks will kick off the final quarter of the year with a week of major economic data, while concerns around Deutsche Bank hover.

  • NEW YORK, Sept 30- Deutsche Bank will likely cast a pall over equity markets next week as the largest German lender navigates a possible multi-billion dollar settlement with the U.S. Department of Justice over the sale of mortgage-backed bonds. "While it is in the headlines, it is an overhang," said Art Hogan, chief market strategist at Wunderlich Securities in New...

  • NEW YORK— Starting Wednesday, J.C. Penney Co. says it will be offering refunds to shoppers who purchased certain towels and a comforter set though it still is unable to figure out whether they're actual knockoffs. Penney's move marks the latest chapter in a controversy that has caught other major retailers like Target, Bed Bath& Beyond, and Wal-Mart over whether...

  • CHICAGO, Sept 30- Wells Fargo& Co faces possible bans from doing business with the city of Chicago and the state of Illinois in the wake of its sales scandal that erupted earlier this month. Illinois Treasurer Michael Frerichs set a Monday news conference to announce "plans to suspend billions of dollars in investment activity with Wells Fargo," according to an...

  • Private Prison

    Private prison stocks posted their worst quarter in years, after being hit by a slew of negative news over the last two months.

  • SAN FRANCISCO— Reorganizing itself under the umbrella company Alphabet has done wonders for Google— but less so for a grab bag of eclectic projects ranging from robotic cars to internet-beaming balloons, which are suffering costly growing pains. CEO Larry Page predicted that separating these smaller "moonshots" from the massive search-and-advertising...