Wires

  • ST. LOUIS, Sept 29- A December rate increase is now the "base case" for the U.S. Louis Fed President James Bullard said in an interview on Thursday. Though all Fed meetings are now theoretically "live" for a rate increase, Bullard said that as a practical matter the November session was unlikely because it will not be followed by a news conference by Fed Chair Janet Yellen.

  • SEATTLE— A new study finds that unusually warm Pacific Ocean temperatures helped cause a massive bloom of toxic algae last year that closed lucrative fisheries from California to British Columbia and disrupted marine life from seabirds to sea lions. The outbreak of the toxin domoic acid, the largest ever recorded on the West Coast, closed razor clam seasons in...

  • CHARLOTTE, N.C.— North Carolina regulators are allowing Duke Energy to expand from being the country's largest electricity company to selling natural gas. Duke Energy Corp. said in a statement Thursday that the North Carolina Utilities Commission has allowed its acquisition of Piedmont Natural Gas Co. The regulatory approval is the last needed for the deal.

  • WASHINGTON— Figures on government spending and debt in millions of dollars.

  • Sept 29- Activist hedge fund Elliott Management said it picked up an 8.1 percent stake in electronics hardware supplier Mentor Graphics Corp, a few months after Carl Icahn exited the company. The company's shares rose as much as 6.5 percent to $26.30 in after-market trading on Thursday. Elliott, founded by billionaire Paul Singer, said Mentor Graphics' shares...

  • Sept 29- Qualcomm Inc is in talks to buy NXP Semiconductors NV in a deal that could be valued at more than $30 billion, two sources familiar with the matter said on Thursday, which would help diversify Qualcomm's business and make it a bigger supplier to the automotive industry. Representatives for Netherlands- based NXP and San Diego- based Qualcomm declined to...

  • Consumer spending in the United states rose 4.3 percent in the fourth quarter, according to data released by the Commerce Department on Thursday. Net income rose to $779 million, or $1.77 per share, in the fourth quarter ended Aug. 28, from $767 million, or $1.73 per share, a year earlier. Analysts on average had expected earnings of $1.73 per share, according to...

  • The latest countries singled out by the U.S. Centers for Disease Control and Prevention are Brunei, Myanmar, Cambodia, Indonesia, Laos, Malaysia, Maldives, Philippines, Thailand, Timor-Leste, and Vietnam. The CDC said Zika has been present in areas of Southeast Asia for many years, and several countries have reported occasional cases or small outbreaks.

  • WASHINGTON/ NEW YORK, Sept 29- U.S. lawmakers called on Thursday for Wells Fargo& Co chief John Stumpf to resign and a top House Democrat demanded the bank be broken up because it is too big to manage. Wells Fargo staff opened checking, savings and credit card accounts without customer say-so for years to satisfy managers' demand for new business, according to a $190...

  • SAN JUAN, Puerto Rico— Puerto Rico's governor turned over the reins of his government's finances to a federal control board and outlined what he considers priorities during a televised address Thursday to prepare the U.S. territory for a historic change. Garcia urged the board to protect the pensions of retired public workers and the jobs that have been...

  • NEW YORK, Sept 29- The New York judge weighing whether ex-AIG chief Maurice "Hank" Greenberg should be liable for accounting fraud on Thursday pressed the 91- year-old executive about why AIG had created an offshore entity for losses from a failed automotive warranty program. Greenberg was on the stand for the third day for allegedly engineering the offshore...

  • BUENOS AIRES, Sept 28- Progress has been made in correcting imbalances in Argentina's economy but sustained growth would require more reforms, the International Monetary Fund said on Thursday after its first mission to the country in 10 years. The Sept. 19-29 visit came after President Mauricio Macri, who took office in December, threw open Argentina's economy...

  • WASHINGTON, Sept 29- U.S. lawmakers expressed doubts on Thursday about Sept. 11 legislation they forced on President Barack Obama, saying the new law allowing lawsuits against Saudi Arabia could be narrowed to ease concerns about its effect on Americans abroad. A day after a rare overwhelming rejection of a presidential veto, the first during Obama's eight...

  • FRANKFURT/ SAN FRANCISCO, Sept 29- A Tesla Motors Inc car operating under Autopilot collided with a bus in northern Germany, but the electric car maker said a collision was unavoidable because the bus swerved into the vehicle's lane. It has been the focus of intense scrutiny since it was revealed in July that a Tesla Model S driver was killed while using the...

  • Sept 29- Boeing Co is close to clinching a large sale of widebody jetliners to Qatar Airways, a deal that moved closer with the recent U.S. approval of Boeing fighter jet sales to the Gulf nation, according to two people familiar with the situation. Qatar Airways is in the process of firming up the order, which it was due to have placed at July's Farnborough airshow, but...

  • BERLIN, Sept 29- Deutsche Bank admitted on Thursday it had an image problem with investors as fresh concerns over the stability of Germany's largest lender pushed its U.S.-listed shares to a record low. The latest lurch came after Bloomberg reported that a number of hedge funds that clear derivatives trades with Deutsche had withdrawn some excess cash and...

  • The aluminum producer had said it would change its name to Arconic Inc and focus on engineering products for aerospace and automotive businesses, and spin off its smelting and refining divisions into a new company, Alcoa Corp.. If the reverse stock split is approved, shareholders will receive one share of Alcoa Corp common stock for every three shares of Alcoa...

  • FTSE Russell's Chief Executive Mark Makepeace said it would keep the A shares on its watch list for possible inclusion as a secondary emerging market, saying it was not a matter of "if but when" China would be elevated to emerging market status. "China's important and it is going to happen with China," Makepeace said by phone. Kazakhstan, Kuwait, Mongolia, Poland and...

  • Sept 29- The scandal isn't that Wells Fargo's John Stumpf has lost only $41 million of his $249 million in recent compensation after widespread fraud. A study from Moshe Levy at The Hebrew University, in Jerusalem, finds that luck rather than skill plays an overwhelming role in the value of management compensation. Stumpf was grilled again by Congress on...

  • BERLIN, Sept 29- European Central Bank Governing Council member Ewald Nowotny said on Thursday he did not believe that Europe faced a new banking crisis similar to that seen in 2007 and 2008, but the financial sector was clearly in a transitional phase. We're in a transitional and learning phase, "Nowotny told Reuters before an event hosted by the Friedrich Ebert...