Wires

  • BEIJING/ NEW YORK, Dec 7- President-elect Donald Trump will nominate Iowa Governor Terry Branstad as the next U.S. ambassador to China, choosing a longstanding friend of Beijing after rattling the world's second largest economy with tough talk on trade and a telephone call with the leader of Taiwan. Branstad has visited China at least six times, and Chinese...

  • *Index reaches its highest since May 2015. TORONTO, Dec 7- Canada's benchmark stock index jumped to a 19- month high on Wednesday as gains for sectors that benefit most from stronger economic growth offset a drop in energy shares prompted by lower oil prices. The Toronto Stock Exchange's S&P/TSX composite index closed up 111.95 points, or 0.74 percent, at...

  • On his website, President-elect Donald Trump blames Dodd-Frank's "bureaucratic red tape and Washington mandates" for strangling economic growth. Enforcement defendants and their lawyers have also spent the past few years complaining bitterly about the SEC's increased use of administrative proceedings- which take place before in-house judges, under...

  • *Loonie touches its strongest since Oct. 21 at C $1.3234. TORONTO, Dec 7- The Canadian dollar strengthened to a near seven-week high against its U.S. counterpart on Wednesday as the Bank of Canada's rate decision and statement gave investors no reason to interrupt a recent appreciation even as oil prices pulled back. The currency's weakest level of the session was...

  • TORONTO, Dec 7- Canadian yoga and leisure apparel retailer Lululemon Athletica Inc reported quarterly profit that beat analysts' forecasts on Wednesday, helped by higher-than-expected gross margins and sales, sending shares up 10 percent in extended trade. Net income rose to $68.3 million, or 50 cents per share in the third quarter ended October 30, from $53.2...

  • BRUSSELS, Dec 7- The European Union will take action on Thursday against seven nations including Germany and Britain for failing to police car emissions rules, EU sources said, after the Volkswagen cheating scandal showed suspicious behavior in the industry. Amid frustration in Brussels over nations' responses to diesel vehicles flouting pollution limits,...

  • WASHINGTON— President-elect Donald Trump is adding former wrestling executive Linda McMahon to his Cabinet as leader of the Small Business Administration. McMahon and her husband, Vince, founded and built World Wrestling Entertainment Inc., now a publicly traded sports entertainment company. She also poured $100 million of her fortune into two...

  • Pfizer Inc., down 37 cents to $31.19. British regulators fined Pfizer about $90 million for raising the cost of an epilepsy drug. AK Steel Holding Corp., up 24 cents to $10.79.

  • The Dow Jones industrial average and Standard& Poor's 500 indexes soared to their biggest gains since the presidential election on Wednesday and set all-time highs. The S&P 500 is up 49.40 points, or 2.3 percent. The S&P 500 is up 197.41 points, or 9.7 percent.

  • OTTAWA, Dec 7- Canada moved to formalize Statistics Canada's independence as an arms-length agency on Wednesday in an attempt to boost the agency's credibility after its head quit last year in protest over concerns about the agency's autonomy. The legislation to amend the Statistics Act, introduced to parliament by Innovation Minister Navdeep Bains, would...

  • Comparable sales and traffic in the quarter remained strong in the United States, except in the first two weeks of November due to the U.S. Net income attributable to the company rose to $545 million, or $1.24 per share, in the first quarter ended Nov. 20, from $480 million, or $1.09 per share, a year earlier. Total revenue rose 3.2 percent to $28.10 billion, slightly...

  • DELAWARE, Ohio _ Greif Inc. on Wednesday reported fiscal fourth-quarter earnings of $8.5 million. The Delaware, Ohio- based company said it had profit of 14 cents per share. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.

  • NEWARK, N.J. _ IDT Corp. on Wednesday reported fiscal first-quarter profit of $21.9 million. On a per-share basis, the Newark, New Jersey- based company said it had profit of 96 cents. This story was generated by Automated Insights using data from Zacks Investment Research.

  • WALTHAM, Mass. _ ModusLink Global Solutions Inc. on Wednesday reported a loss of $8.5 million in its fiscal first quarter. The Waltham, Massachusetts- based company said it had a loss of 16 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • MELVILLE, N.Y. _ Verint Systems Inc. on Wednesday reported a fiscal third-quarter loss of $8.2 million, after reporting a profit in the same period a year earlier. Verint expects full-year earnings to be $2.50 per share. Verint shares have declined almost 6 percent since the beginning of the year.

  • President-elect Donald Trump plans to nominate wrestling magnate Linda McMahon as his choice to head the Small Business Administration, Trump's transition team said in a statement on Wednesday. He assembled an investor group to buy a failed California mortgage lender in 2009, rebranded it as OneWest Bank and built it into Southern California's largest...

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

  • President-elect Donald Trump plans to nominate wrestling magnate Linda McMahon as his choice to head the Small Business Administration, Trump's transition team said in a statement on Wednesday. He assembled an investor group to buy a failed California mortgage lender in 2009, rebranded it as OneWest Bank and built it into Southern California's largest...

  • President-elect Donald Trump plans to nominate wrestling magnate Linda McMahon as his choice to head the Small Business Administration, Trump's transition team said in a statement on Wednesday. He assembled an investor group to buy a failed California mortgage lender in 2009, rebranded it as OneWest Bank and built it into Southern California's largest...

  • *Wheat falls on hefty crop estimates for Canada, Australia. Chicago Board of Trade wheat for March delivery settled down 5-3/ 4 cents at $4.01 per bushel. March corn ended down 2-1/ 2 cents at $3.58 a bushel while January soybeans finished up 1-1/ 4 cents at $10.49 a bushel.