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Top News & Analysis United States

  • WASHINGTON, June 23- Congressional leaders are quietly working on a bipartisan deal to raise the U.S. debt ceiling within weeks, hoping to prevent the difficult debt issue from snarling a budget fight to come in September, a senior Democratic budget writer said on Friday. John Yarmuth, top Democrat on the U.S. House of Representatives Budget Committee, told...

  • Rick Snyder's administration agreed that he would publicly oppose many future labor-relations bills in a bid to secure Democratic votes in the Michigan House for economic development tax incentives. Republican House Speaker Tom Leonard canceled a vote on the tax incentives this week, citing concerns that Snyder had cut a deal with Democrats to "undermine"...

  • PHILADELPHIA— A member of a local politically connected family was convicted Friday of defrauding a nonprofit mental health clinic out of about $1 million for her personal benefit through a pattern of self-dealing when she was its landlord. Renee Tartaglione was indicted last year and charged with taking $1 million from the Juniata Community Mental Health...

  • SAN JUAN, Puerto Rico— Puerto Rico's governor said Friday that he will go to court to fight a federal control board's call to cut a public pension system by 10 percent, furlough tens of thousands of government workers and eliminate Christmas bonuses. Ricardo Rossello come amid rising tensions between his administration and the board created by Congress last...

  • *Nasdaq on track to post first weekly gain in three weeks. June 23- U.S. stocks rose on Friday, with the Nasdaq set to post its first weekly gain in three weeks, helped by strength in technology stocks, while energy shares rebounded as oil prices rose. "The effect is going to be focused on small-caps but there's an echo of that in large caps," said Don Townswick, Director of...

  • WASHINGTON, June 23- The U.S. Food and Drug Administration on Friday approved a new oral blood-thinner made by Portola Pharmaceuticals Inc to prevent deep vein thrombosis and pulmonary embolisms in acutely ill patients who are not undergoing surgery. Analysts on average expect the drug to generate sales of $313 million by 2020, rising to more than $1 billion...

  • The group said in a statement Friday it's encouraged that the Senate bill would take immediate action to stabilize shaky insurance markets by guaranteeing billions of dollars in subsidies under jeopardy due to a legal dispute and political maneuvering. The Senate bill would make the payments through 2019, but then cut them off. Jeff Flake's home state of...

  • NEW YORK, June 23- Oil futures edged higher on Friday with a lift from a weaker dollar, but finished a fifth straight week lower as OPEC- led production cuts have failed to substantially reduce a global crude glut. Brent futures settled up 32 cents, or 0.7 percent, to $45.54 a barrel. "The higher rig count this week reflects decisions made a couple of months ago when oil...

  • Beef cattle

    China let through the first shipments of beef from the U.S. in 14 years on Friday, after the two nations agreed to resume the trade in May.

  • NEW YORK, June 23- General Motors Co has agreed to settle federal lawsuits by as many as 203 plaintiffs over defective ignition switches in its vehicles, a Friday court filing shows. Settlement terms are confidential, but the accord could also resolve hundreds of state court claims, as well, lawyers for the automaker said in the filing in Manhattan federal court.

  • SAN FRANCISCO— Google is going to stop reading your Gmail in search of opportunities to sell ads. The change announced Friday will end a practice that Google has embraced since the company introduced Gmail in 2004. The Mountain View, California, company said it would stop the ad-driven scanning of Gmail later this year.

  • SAO PAULO, June 23- Brazil's agriculture minister prepared to travel to the United States on Friday to fight a ban on imports of fresh Brazilian beef, which hit shares of local meatpackers and revived concerns about the image of the world's largest beef exporter. The U.S. Department of Agriculture's ban dealt a setback to Brazil's recently opened fresh beef...

  • NEW YORK/ LONDON, June 23- Arabica coffee futures vaulted higher on Friday, notching their largest one-day gain in a year, as options-related dealings spurred short-covering following Thursday's sharp decline. *September arabica coffee settled up 6.5 cents, or 5.58 percent, at $1.23 per lb, rebounding from the previous session's plunge of more than 5 percent.

  • NEW YORK, June 23- The dollar fell against a basket of major currencies on Friday, recording its biggest one-day fall in three weeks, on persistent doubts whether the Federal Reserve would raise interest rates again this year due to softening inflation data. Sterling rose for a third consecutive day after soon-to-depart Bank of England policymaker Kristin...

  • DETROIT, June 23- Honda Motor Co on Friday released a 2013 email in which one of its engineers suggested that he knew some hidden truth about "the root cause" of Takata Corp air bag failures, but the engineer later said he was mistaken. The engineer's email was disclosed in a statement from Honda as part of its defense in a class action suit in Florida, where plaintiffs...

  • NEW YORK, June 23- U.S. For the third month in a row, was way below expectations, said Jim Vogel, an interest rate strategist at FTN Financial in Memphis, Tennessee, adding that continued declines in non-seasonally adjusted consumer prices played a large role in the market move. after flattening to 95 basis points on Thursday, the lowest since December 2007.

  • Representative John Yarmuth, top Democrat on the House of Representatives Budget Committee, predicted Trump's promise to deliver the biggest tax reform since Ronald Reagan would have to be scaled back if the Republican-controlled Senate fails next week to adopt legislation dismantling Obamacare, formally known as the Affordable Care Act.

  • *Gold resistance at $1,260/ oz, 55- day moving average. NEW YORK/ LONDON, June 23- Gold prices climbed to one-week highs on Friday, boosted by a weaker dollar, economic and political uncertainty around the world, as well as the limited prospect of further interest rate rises in the United States. Louis Fed President James Bullard said on Friday, highlighting the...

  • WASHINGTON, June 23- Congressional leaders are quietly working on a bipartisan deal to raise the U.S. debt ceiling within weeks, hoping to prevent the difficult debt issue from snarling a budget fight to come in September, a senior Democratic budget writer said on Friday. John Yarmuth, top Democrat on the U.S. House of Representatives Budget Committee, told...

  • The breakeven price at the Loma Campana field is $43 per barrel and falling while development costs are $12.90 per barrel and expected to fall to $10 next year, said Pablo Bizzotto, executive manager at YPF's unconventional resources unit. "Ten dollars is world-class compared with the Permian" shale field in Texas, he told reporters this week during a tour of...