Wires

  • NEW YORK, Jan 19- Investors pulled $3.1 billion from U.S.-based stock funds over the last week, Lipper data showed on Thursday, showing a waning appetite for risk ahead of Donald Trump's inauguration as U.S. president. In a note on Wednesday, the managers of BlackRock Inc's largest mutual fund, the $41 billion Global Allocation Fund, warned U.S. stocks are trading at "...

  • SAN FRANCISCO— Uber Technologies is paying $20 million to settle allegations that it duped people into driving for its ride-hailing service with false promises about how much they would earn and how much they would have to pay to finance a car. The agreement announced Thursday with the Federal Trade Commission covers statements Uber made from late 2013 until...

  • CANNON BALL, N.D., Jan 19- Tensions have increased this week near the construction site of the Dakota Access pipeline, with repeated clashes between protesters and police ahead of Friday's inauguration of President-elect Donald Trump, an unabashed fan of the $3.8 billion project. "It's closing in on the inauguration, and people want to make sure that their voices...

  • Jan 19- International Business Machines Corp reported its 19th straight quarter of declining revenue, but forecast full-year earnings above Wall Street estimates due to growth in newer areas such as cloud-based services and analytics. CFRA Research analyst David Holt said the company's results still raised questions as to when revenue would grow.

  • WASHINGTON— The Pentagon says it disagrees with Republicans in North Carolina who claim a $400 million clean energy project slated to power data centers for Amazon.com Inc. poses a threat to national security. The Navy told The Associated Press this week it had extensively studied the potential for interference with its Relocatable Over the Horizon Radar,...

  • NEW YORK— Billionaire investor George Soros said Thursday he views President-elect Donald Trump as an "impostor and con man and a would-be dictator" who will rattle financial markets. Soros, a big supporter of Hillary Clinton's failed presidential campaign, said he is confident Trump will be checked by Congress and the Constitution. Soros made the comments at...

  • NEW YORK, Jan 19- A former Los Angeles investment banker once dubbed "Porn's New King" pleaded guilty on Thursday for the second time in a year to engaging in securities fraud, admitting to participating in a scheme that cheated investors and a Native American tribe. Jason Galanis, 46, entered his plea in Manhattan federal court to charges that included securities...

  • NEW YORK, Jan 19- A former portfolio manager at Visium Asset Management LP was convicted of securities fraud on Thursday, following a trial that stemmed from a federal investigation that led to the New York- based hedge fund's closure last year. Stefan Lumiere, whose sister was married to Visium founder Jacob Gottlieb when he worked at the hedge fund, was found not...

  • SEOUL, Jan 20- Tech giant Samsung Electronics Co Ltd said on Friday it will hold a press conference on Jan. 23 on the Galaxy Note 7 with the head of its mobile business Koh Dong- jin in attendance. Samsung did not elaborate on what will be discussed at the briefing, but said earlier this month it will soon announce the results of its investigation into what caused some of...

  • ST. LOUIS, Jan 19- A U.S. bankruptcy judge denied on Thursday a request by Peabody Energy Corp shareholders to order the appointment of an official equity committee in the coal miner's Chapter 11 restructuring, crushing hopes of a recovery for investors. Bankruptcy Judge Barry Schermer asked why more money should be spent on legal fees when unsecured creditors...

  • Jan 19- A federal appeals court rejected former Sentinel Management Group Inc chief Eric Bloom's bid to void his conviction and 14- year prison sentence over an estimated $666 million fraud that led to the demise of his suburban Chicago firm and a big writedown for Bank of New York Mellon Corp. The 7th U.S. Circuit Court of Appeals in Chicago on Thursday disagreed...

  • NEW YORK, Jan 19- JPMorgan Chase& Co directors paid Chief Executive Jamie Dimon $28 million in total compensation for 2016, a 4 percent bump from the prior year, the company said on Thursday. Dimon's package includes a base salary of $1.5 million as well as cash and stock-related instruments that are tied to Dimon's performance, according to a filing with the U.S....

  • The company said it now expects full-year 2017 earnings to be between $5.60- $5.80 per share. "That outlook is built on a set of priorities designed to put us in a strong position for 2018 and the years ahead," Chief Executive Kenneth Chenault said. Chief Financial Officer Jeffrey Campbell, on a call with analysts, cautioned that quarterly earnings and revenue would...

  • TOKYO, Jan 20- Japanese manufacturers' morale rose for a fifth straight month in January to a 2-1/ 2 year high and the service sector's mood jumped to its highest levels since mid-2015, a Reuters poll showed, thanks to a weak yen and buoyant share prices. President-elect Donald Trump is inaugurated on Friday, with his protectionist agenda casting doubts over the...

  • *China economy seen growing 6.7 pct y/y in Q4, same as Q3. BEIJING, Jan 20- Boosted by higher government spending and record bank lending, China is expected to report on Friday that its economy grew by a steady 6.7 percent in the fourth quarter, giving it a solid tailwind heading into what is expected to be a turbulent 2017.. China's sluggish exports also could come...

  • NEW YORK, Jan 19- Hollywood mogul David Geffen's $70 million purchase of an oceanfront estate topped luxury home sales last year in New York's Hamptons, but a sharp price drop after the No. 2 spot reveals a dismal year, a local brokerage reported on Thursday. A $63.8 million sale of another oceanfront property in East Hampton, New York, to liquefied natural gas...

  • The bank also named Richard Yorke, who previously headed the international group, as chief operating officer for the wholesale banking business. Wells Fargo derives just 4 percent of its revenues from outside the United States. Wells Fargo now has operations in 42 countries and territories with close to 3,000 employees in Asia Pacific, Europe and the United...

  • NEW YORK— Target says it is promoting Rick Gomez to executive vice president and chief marketing officer as the Minneapolis discounter looks to reverse traffic declines at its stores. Gomez, who joined Target in 2013 as senior vice president of marketing, succeeds Jeff Jones effective Jan. 29. He will report to CEO and Chairman Brian Cornell.

  • WASHINGTON, Jan 19- Ride-hailing company Uber Technologies Inc has agreed to pay $20 million to settle claims by the U.S. government that it exaggerated prospective earnings in seeking to recruit drivers and downplayed the costs of buying or leasing a car, documents filed with a federal court on Thursday showed. The company said on its website that some Uber...

  • ELLICOTT CITY, Md. _ Howard Bancorp Inc. on Thursday reported net income of $953,000 in its fourth quarter. The bank, based in Ellicott City, Maryland, said it had earnings of 13 cents per share. Howard Bancorp shares have increased roughly 2 percent since the beginning of the year.