Wires

  • MEXICO CITY, Jan 18- Mexico's peso dropped nearly 2 percent on Wednesday after U.S. President-elect Donald Trump's choice for commerce secretary said renegotiating a trade deal with Mexico and Canada would likely be the incoming administration's first priority. In his Senate confirmation hearing, nominee Wilbur Ross said the North American Free Trade...

  • FRANKFURT, Jan 19- With euro zone growth and inflation slowly picking up pace, the European Central Bank is set to argue on Thursday that its extra-easy policy stance is still needed to keep the recovery on course. ECB President Mario Draghi can argue the bank has done its part to mend growth, but he will also note the recovery is not self-sustaining, underlying...

  • WASHINGTON, Jan 18- President-elect Donald Trump's choice to lead the U.S. Environmental Protection Agency expressed doubt about the science behind global climate change during a contentious Senate confirmation hearing on Wednesday, but added he would be obliged for now to uphold the EPA's finding carbon dioxide poses a public danger.

  • WASHINGTON, Jan 18- The largest U.S. student loan servicer, Navient Corp, cheated borrowers out of billions of dollars, often by deceiving them about repayment options and their legal rights, the U.S. consumer financial watchdog said on Wednesday as it announced a lawsuit against the company. The U.S. Consumer Financial Protection Bureau accused Navient, which...

  • Jan 18- Citigroup Inc Chief Executive Michael Corbat asked investors for more patience on Wednesday in explaining how the bank failed to meet four-year-old performance targets, even as vibrant markets drove profits higher in the fourth quarter. Corbat adjusted those goals and proposed new times and conditions to reach them in a conference call with...

  • WASHINGTON, Jan 18- A top Republican in Congress on Wednesday defended his border-adjustable tax provision against criticism from President-elect Donald Trump, warning that U.S. jobs and companies will continue to move abroad unless the controversial measure is included in tax reform. Representative Kevin Brady, chairman of the House of Representatives...

  • ONTARIO, Calif. _ CVB Financial Corp. on Wednesday reported fourth-quarter net income of $27.1 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share. CVB Financial shares have fallen 3 percent since the beginning of the year.

  • WASHINGTON, Jan 18- Borrowers who say OneWest Bank refused to help them when they struggled to pay their mortgages appeared Wednesday on Capitol Hill, where they urged the U.S. Senate to vote against confirming the bank's former chief executive, Steven Mnuchin, as Treasury Secretary. "Steve Mnuchin's company had no interest in helping us," said the Nevada mother,...

  • WASHINGTON— Japan has maintained its hold for a second month on the No. 1 spot atop China among foreign owners of U.S. Both Japan and China cut their portfolios in November but China's reductions were larger. October and November marked the first time that Japan has been in first place since February 2015, with China its usual No. 1 spot after that.

  • PINE BLUFF, Ark. _ Simmons First National Corp. on Wednesday reported fourth-quarter net income of $27 million. The bank, based in Pine Bluff, Arkansas, said it had earnings of 85 cents per share. Simmons First National shares have decreased roughly 5 percent since the beginning of the year.

  • NEW YORK, Jan 18- China's holdings of U.S. China's holdings declined to $1.049 trillion, a drop of about $66 billion, data from the U.S. Treasury Department showed on Wednesday. "This is in line, at the very least, with data showing that capital continued to flow out of China," said Gennadiy Goldberg, interest rates strategist, at TD Securities in New York.

  • NEW YORK— Vegemite and other grocery products are being sold by Oreo-maker Mondelez to Australian dairy company Bega Cheese in a deal worth about $345.3 million. Amanda Banfield, vice president of Mondelez's Australian unit, said in a statement that Vegemite is "part of the fabric" of Australia. Mondelez had licensing rights for those products overseas after...

  • Original shows like "Marvel's Luke Cage" and British drama "The Crown" performed strongly around the world, Netflix said, noting that competitors were adapting to compete. Amazon.com Inc recently expanded its Amazon Prime Video service globally, and Britain's BBC announced plans to release entire series at once to allow the "binge watching" popularized by...

  • NEW YORK, Jan 18- Puerto Rico's federal oversight board said on Wednesday it was willing to extend key deadlines that would give the debt-laden U.S. territory's government more time to negotiate restructuring deals with holders of its roughly $70 billion in bonds. In addition to its nearly $70 billion in debt from a myriad of public issuers, Puerto Rico is...

  • PITTSBURGH _ F.N.B. Corp. on Wednesday reported fourth-quarter earnings of $51.3 million. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 24 cents per share. Six analysts surveyed by Zacks expected $214.6 million.

  • TRENTON, N.J.— For many older couples, fun in the bedroom requires help from prescription drugs, but prices of popular brand-name sexual dysfunction drugs have tripled since 2010 and insurance coverage is spotty. For men, insurance may cover six Viagra or Cialis pills per month, which now cost $50 apiece without insurance or for additional pills above the limit.

  • WASHINGTON, Jan 18- Early optimism among business lobbyists and executives that Donald Trump's election heralded better days has slowly given way to uncertainty as the president-elect fires off mixed and sometimes confusing messages on healthcare, taxes and trade. An initial euphoria in the business world fueled a powerful post-election stock rally.

  • NEW YORK— The Department of Labor is suing JPMorgan Chase& Co. for discriminating against female workers. The Labor Department said it filed its complaint after it was unable to get JPMorgan to voluntarily make changes. JPMorgan said it tried to work with the agency and was disappointed that it filed the complaint.

  • So-called unicorns, private firms with valuations over $1 billion, have seen surging investment from mutual funds in recent years. "Specifically, we find that mutual-fund-participating investment rounds are associated with both fewer cash-flow rights and fewer control/voting rights across many dimensions," Sergey Chernenko of Ohio State University,...

  • SAN JUAN, Puerto Rico— The federal control board overseeing Puerto Rico's finances says it is inclined to extend both a debt moratorium and a deadline for the U.S. territory's government to submit a revised fiscal plan. The board made the announcement Wednesday as it ordered Puerto Rico's new governor to present a plan that would generate $4.5 billion a year in...