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Top News & Analysis United States

  • SUMMIT, N.J.-- Shares of Celgene Corp. rose Tuesday after the company said its cancer drug Abraxane slowed the progression of melanoma in a late-stage clinical trial. Celgene said patients who were treated with Abraxane had greater progression-free survival than patients who were treated with the chemotherapy drug dacarbazine.

  • By Deepa Seetharaman and Bernie Woodall. DETROIT, Oct 2- General Motors Co, the largest U.S. automaker, posted a small gain in September U.S. sales as demand for passenger cars offset a drop in pickup trucks, while Japanese automaker Toyota Motor Corp reported a large sales increase.

  • WASHINGTON, Oct 2- Federal and state officials pledged on Tuesday to bring more cases against misconduct that fueled the financial crisis, after New York sued JPMorgan Chase& Co late Monday over mortgage-backed securities packaged and sold by Bear Stearns.

  • By Luke Pachymuthu and Manolo Serapio Jr. SINGAPORE, Oct 2- Brent crude futures steadied near $112 a barrel on Tuesday as investors weighed a weaker demand outlook amid a sluggish global economy against the continuing potential for supply risks.

  • FRANKFURT, Oct 2- Deutsche Telekom on Tuesday confirmed it is in talks with smaller peer MetroPCS. In a regulatory filing, Deutsche Telekom said the aim of the combination would be to operate its subsidiary T-Mobile USA and MetroPCS "within one company in which Deutsche Telekom would hold the majority of shares."

  • SYDNEY, Oct 2- Following is the text of the Reserve Bank of Australia's statement on Tuesday after its monthly monetary policy meeting. Economic activity in Europe is contracting, while growth in the United States remains modest. Around Asia generally, growth is being dampened by the more moderate Chinese expansion and the weakness in Europe.

  • NEW YORK, Oct 2- The much-awaited bond from Dutch brewer Heineken to take out a EUR2.5bn bridge loan for its acquisition of Asia Pacific Breweries was announced today, and early indications are that it will raise up to US $3.25 bn.

  • WASHINGTON, Oct 2- Last year's sale from U.S. emergency crude oil reserves has helped battle shrinking capacity or "creep" at the 62 salt caverns in Texas and Louisiana that form the Strategic Petroleum Reserve, the Energy Department's inspector general said on Tuesday.

  • *MSCI says switch covers $24 million of annual operating income. Oct 2- Vanguard Group, the largest U.S. mutual fund manager, said on Tuesday it was switching 22 of its biggest index funds away from benchmarks provided by MSCI Inc in order to cut costs.

  • Ralls Corp said when Obama ordered the company last week to divest its projects due to national security risks, he exceeded his power by dictating the terms of the sale, allowing the government to inspect all aspects of its operations and not treating the company equally as required under the law.

  • The two advisers, who started at the same Prudential Securities office in Washington, D.C. in 1997, moved to Wells Fargo& Co's independent broker-dealer on Tuesday. Luts and Greenleigh moved to Citigroup's Smith Barney in 2004 after their old firm, Prudential Securities, was bought by Wachovia.

  • NEW YORK-- Americans are expected to spend more during what's traditionally the busiest shopping season of the year, but they're not exactly ready to shop `til they drop like they have been in the past two years.

  • NEW YORK-- Chinese solar equipment maker LDK Solar says lenders to its controlling shareholder won't sell loan-related collateral for a year. That gave lenders the right to sell the collateral, which includes shares of LDK Solar.

  • WASHINGTON, Oct 2- U.S. antitrust regulators found no wrongdoing in a deal made four years ago between German drugmaker Bayer AG and a division of Teva Pharmaceuticals to end patent litigation over the popular Yasmin birth control pill.

  • The country's largest fertilizer company, Mosaic, said weak demand from China and India weighed on its profits. Mosaic, Dupont and stocks of other companies in the materials industry fell. Shortly before noon, the Dow Jones industrial average was down 75 points at 13,439. Dupont led the Dow lower, sinking 1.8 percent, or 84 cents, to $49.52.

  • LOS ANGELES-- Music subscription service Rdio is looking to dispel the notion that streaming services underpay artists for their work. Starting Tuesday, it will start paying musicians $10 for every person they convince through social media to sign up for an Rdio plan. For $10 a month, they allow users to stream an unlimited number of songs on mobile devices.

  • NEW YORK-- Americans are expected to spend more during what's traditionally the busiest shopping season of the year, but they're not exactly ready to shop `til they drop like they have been in the past two years.

  • WASHINGTON-- The federal government on Tuesday threw its support behind a lawsuit against JPMorgan Chase accusing Bear Stearns, the investment bank JPMorgan bought in 2008, of engaging in massive fraud in deals involving billions in residential mortgage-backed securities. Bear Stearns was sold to JPMorgan Chase in 2008..

  • *PetSmart to replace Sunoco in the S&P 500 index. Spain was said to be ready to ask the euro zone for help, but Germany has signaled that Madrid should hold off on making its request, according to European officials on Monday.

  • Oct 2- U.S. retail sales should rise 4.1 percent this holiday season, slower growth than in the past two years as mixed economic data and political uncertainty weigh on consumers, the world's largest retail trade association said. The forecast released on Tuesday by the National Retail Federation puts sales at $586.1 billion in November and December.