Wires

  • JACKSON HOLE, Wyo., Aug 25- As central bankers converge on this mountain resort Thursday for an annual conference on monetary policy, a couple of top Federal Reserve officials took the chance to renew a push for interest-rate hikes, citing improvement in employment and inflation. "The case is strengthening" for a rate hike, Dallas Fed President Robert Kaplan told...

  • Attorney General Lisa Madigan, whose office is investigating other opioid manufacturers for similar practices, said the lawsuit seeks to bar Insys from selling its products in Illinois and impose financial penalties on the company.

  • WINNIPEG, Manitoba, Aug 25- Chicago soybean futures slid for a third consecutive session on Thursday, diving 2 percent to their lowest since mid-August, as a widely watched crop tour reported bumper prospects across the U.S. Late on Wednesday, the tour reported above-average soybean pod counts in Illinois and the western portion of Iowa. "I think the beans have a...

  • Aug 25- Shares of medical device maker St Jude Medical Inc fell sharply on Thursday after short-selling firm Muddy Waters said it had placed a bet that the shares would fall because of cyber security vulnerabilities in cardiac devices made by St Jude. Muddy Waters head Carson Block said his short position in St Jude was motivated by research from a cyber...

  • Shares of the company, which posted its first fall in quarterly total sales in more than six years, plunged 17.6 percent in early trading to $78.71, their biggest single-day percentage decline since November 2007. Stores in areas closely tied to the energy industry, such as Texas, Louisiana, Oklahoma and Alberta "dramatically underperformed," Chief Executive...

  • That signal, though, could come as soon as Friday, when Fed Chair Janet Yellen will address the annual meeting of the world's central bankers in Jackson Hole, Wyoming. Fed leaders have sometimes used the Jackson Hole event to announce major policy shifts. Two close Yellen allies— William Dudley, president of the Federal Reserve Bank of New York, and Stanley Fischer,...

  • Aug 25- Mylan NV said on Thursday it would reduce the out-of-pocket cost of its severe allergy treatment EpiPen through a discount program, a day after Democratic Presidential candidate Hillary Clinton joined lawmakers in criticizing the drug's high price. The price of the product, acquired in 2007, has skyrocketed to $600 from $100 in 2008.

  • MILAN, Aug 25 (Reuters)- European equities fell on Thursday, dragged down by weaker miners and drugmakers, with investors cutting their exposure to riskier assets ahead of a key speech by Federal Reserve Chair Janet Yellen on Friday. The pan-European STOXX 600 index closed 0.8 percent lower, also weakened by a disappointing sentiment survey in Germany and...

  • Aug 25- Whirlpool Corp, the world's largest maker of home appliances, is recalling 15,200 Whirlpool brand microwaves due to a fire hazard, the U.S. Consumer Product Safety Commission said on Thursday. The formation of internal sparks when the product was being used could ignite a plastic component, posing a fire hazard, the CPSC said. Whirlpool has so far received...

  • MOSCOW, Aug 25- Russia's biggest bank Sberbank raised its forecast for full-year profitability on Thursday after setting a new profit record in the second quarter, further reinforcing its status as market leader despite a weak economy. State-controlled Sberbank has thrived during Russia's economic crisis as households and companies concerned about the...

  • CAIRO/ ABU DHABI, Aug 25- Egypt's Minister of Supply Khaled Hanafi has resigned amid the highest-profile corruption case since President Abdel Fattah al-Sisi came to power in 2014.. If Egypt's local wheat procurement figures were misrepresented, it may have to spend more on foreign wheat purchases to meet local demand- even as it faces a dollar shortage that has...

  • TOKYO/ LONDON, Aug 25- Japanese carrier ANA Holdings needs to replace damaged compressor blades in the Rolls-Royce engines powering its Boeing 787 s, it said on Thursday, forcing it to cancel some Dreamliner flights over the coming weeks. ANA's Dreamliners are powered by Rolls- Royce Trent 1000 engines. "We are aware of the situation and are working with...

  • The shortage of cotton from Egypt, which commands a premium due to its superior quality, creates an incentive to blend it with other types of cotton without disclosing it or to counterfeit the label altogether, cotton traders said, exacerbating a problem that has plagued the industry for years. While other countries including the United States and Australia...

  • HONG KONG/ SANTIAGO, Aug 25- Ningbo Shanshan Co Ltd, a Chinese manufacturer of lithium battery materials, is in advanced talks to buy a stake in Chile's Sociedad Quimica Y Minera, one of the world's biggest lithium producers, according to two sources with direct knowledge of the matter. An indirect stake in SQM has been up for sale since December, when holding company...

  • *FTSE 100 down 0.3 pct. LONDON, Aug 25- UK shares fell on Thursday, extending losses from the previous session as healthcare stocks dropped, though CRH rose after well-received results. Healthcare stocks were a major weight on the FTSE 100, with Hikma, Shire and Astrazeneca falling between 1.4 percent to 3.5 percent.

  • WASHINGTON, Aug 25- New orders for U.S. manufactured capital goods rose for a second straight month in July as demand for machinery and a range of other products picked up, offering a tentative sign that a business spending downturn was starting to ease. Fed Chair Janet Yellen could give guidance on the near-term outlook for U.S. monetary policy when she speaks on...

  • *Switching to small suppliers at lowest since March 2015. LONDON, Aug 25- Britain's Big Six energy suppliers are starting to claw back customers from their smaller, independent rivals which are struggling to cope with more than 20 per cent recovery in prices for winter since April. "Now that commodity prices have bounced back, the discount small suppliers can...

  • Aug 25- Wall Street reversed course to eke out small gains on late on Thursday morning as financial stocks gained after two more Federal Reserve officials said the case for an interest rate hike was strengthening. "I do think it is time to move that rate," Kansas City Fed President and voting member, Esther George, told CNBC, while Dallas Fed President Robert Kaplan...

  • WASHINGTON, Aug 25- Mylan NV's move on Thursday to expand discount programs for its EpiPen allergy treatment was welcome but not sufficient, a spokesman for U.S. Democratic presidential candidate Hillary Clinton said in a statement. "Discounts for selected customers without lowering the overall price of EpiPens are insufficient, because the excessive price...

  • Aug 25- Shares of medical device maker St Jude Medical Inc fell sharply on Thursday after short-selling firm Muddy Waters said it had placed a bet that the shares would fall because of cyber security vulnerabilities in a cardiac device. Shares of St Jude, which agreed in April to be purchased by Abbott Laboratories, were last down nearly 4 percent on heavy volume...