Wires

More

  • President Barack Obama proposed a $4.1 trillion spending plan for fiscal year 2017 on Tuesday in a final White House budget that laid out his priorities for fighting Islamic State, raising taxes on wealthy Americans and helping the poor. The budget for the fiscal year beginning on Oct. 1 is largely a political document and is unlikely to be passed by the...

  • WASHINGTON— Obama sends record $4.1 trillion spending plan to Congress to combat terror threats, global warming.

  • JERUSALEM, Feb 9- Cybersecurity firm Imperva sees its sales growth slowing to around 30 percent this year and will aim to tap a growing market for threats originating inside big companies. While it last week forecast a more modest 30 percent growth this year, CEO Anthony Bettencourt believes that could prove conservative, especially since Imperva initially...

  • NEW YORK, Feb 9- U.S. oil and gas pipeline companies including Williams Companies Inc and Kinder Morgan Inc have contracts worth billions of dollars that might be at risk as Chesapeake Energy Corp aims to slash its debts amid collapsing energy prices. But with oil prices at their lowest in 12 years due to a global supply glut with OPEC unwilling to slow production,...

  • *Stops short of $1,200 an ounce on Tuesday. Analysts said the metal is looking overbought and it pulled back after stopping short of testing key psychological resistance at $1,200 an ounce on Tuesday, but many say it could push higher again in coming days. Spot gold was trading down 0.1 percent at $1,189.96 an ounce by 1527 GMT, after rising to $1,200.60 on Monday,...

  • HELSINKI— Swedish furniture retailer Ikea is recalling two types of ceiling lamps because of a risk that the glass shades might fall and injure people. The company says that after receiving complaints from customers that the shades of some "Lock" and "Hyby" lamps had fallen and caused injuries, it's urging all buyers of the two ceiling lamps to immediately return...

  • *Volumes subdued during China holiday. LONDON, Feb 9- Copper prices tumbled to two-week lows on Tuesday as the rout in equities undermined growth sentiment, though volumes were subdued by a holiday in China and a market waiting for clues on demand prospects in the country. Benchmark copper was down 2.2 percent to $4,509 a tonne at 1529 GMT.

  • WASHINGTON— U.S. companies advertised more available jobs in December and more Americans quit, trends that could lift wages in the coming months. The Labor Department says the number of job openings jumped 4.9 percent to 5.6 million, the most since July. And quits increased 6.9 percent to nearly 3.1 million, the highest in more than nine years.

  • The news sent shares of J&J, whose annual Remicade sales of $6.5 billion are mostly in the United States, down almost 4 percent. FDA scientists released their favorable report ahead of a meeting Tuesday of an independent medical advisory panel to the agency. "The data submitted by Celltrion show that is highly similar to U.S.-licensed Remicade" in treating...

  • NEW YORK, Feb 9- The dollar tumbled to a nearly four-month low on Tuesday as growing fears of a global slowdown pushed investors to safe-haven currencies like the Japanese yen and Swiss franc. A selloff in major stock markets worldwide and increased worries about Europe's banking sector also shook confidence in the dollar, which has moved in line with risky...

  • *Saudi labor ministry issues statement on unpaid wages. DUBAI, Feb 9- Some Saudi Arabian construction companies are struggling to pay their staff on time in a sign of growing pressure on the economy from low oil prices, which are causing the government to slow spending on building projects. In an unusual move this week, the Ministry of Labour issued a public...

  • ST. LOUIS— One of North America's biggest makers of aluminum foil is seeking bankruptcy protection, saying it plans to halt production at a southeastern Missouri smelter within weeks. Noranda Aluminum Holding Corp. made the Chapter 11 filing Monday in St. Louis. The company based in Franklin, Tennessee, refines aluminum and mines bauxite.

  • BERLIN, Feb 9- German environmental lobby group DUH stepped up its campaign against auto industry pollution on Tuesday, accusing Fiat Chrysler Automobiles' 500 X compact sport-utility vehicle of releasing excessive levels of toxic diesel emissions. DUH has already accused General Motors' Opel division, Renault and Daimler's Mercedes-Benz brand of...

  • LONDON, Feb 9- A European Union draft law to curb risky trading at banks could be scrapped unless there is consensus on it among the main parties, a senior European Parliament member said on Tuesday. The reform, which needs joint approval from EU States and the bloc's parliament to become law, seeks to stop banks from engaging in excessive risky trading which has the...

  • *UK household debt-to-GDP ratio back at 2002 levels. LONDON, Feb 9- The Bank of England will consider steps to safeguard financial stability if household debt grows faster than the rest of the economy, the bank policymaker in charge of financial stability said on Tuesday. "If credit began to grow faster than GDP, I would want to think very seriously about taking...

  • WASHINGTON, Feb 9- Disruptions in cyberspace and attacks by "homegrown" terrorists are the most imminent security threats facing the United States in 2016, James Clapper, the top U.S. intelligence official, told two Senate committees on Tuesday. In his annual assessment of threats to the United States, Clapper warned that the proliferation of devices, many of...

  • We must all get used to a certain type of lifestyle that does not rely entirely on the state, " Saudi Arabia's ruler warned. In fact they were spoken almost two decades earlier by Crown Prince Abdullah, the kingdom's de facto regent, at the Gulf Cooperation Council summit held in Abu Dhabi on Dec. 8, 1998. Oil revenues have been fundamental in shaping the modern state...

  • *Oil prices reverse course to trade lower. *Viacom lower after revenue misses estimates. Feb 9- Wall Street eked out small gains in early trading on Tuesday, easing off a lower opening, as a drop in energy and financial stocks was offset by a rebound in the technology sector.

  • Feb 9- Viacom Inc, the owner of MTV, Comedy Central, Nickelodeon and movie studio Paramount, reported a steeper-than-expected drop in quarterly revenue, hurt by lower advertising sales in the United States and few hit movie releases in the period, sending its shares down 11.3 percent. Chief Executive Philippe Dauman, who replaced 92- year-old majority-owner...

  • WASHINGTON— U.S. wholesale businesses cut their stockpiles and registered lower sales for the third straight month in December. The Commerce Department says wholesale inventories fell 0.1 percent in December after dropping 0.4 percent in November. Sales fell 0.3 percent in December after sliding 1.3 percent in November.