Wires

  • Jan 20- Puerto Rico Governor Ricardo Rossello on Friday criticized a set of recommendations by the federal board in charge of managing the U.S. territory's finances, signaling a potential power struggle between the government and the board on how to pull the island out of economic crisis. The board's letter had called for Puerto Rico to save more than $4.5...

  • MEXICO CITY, Jan 20- Mexico's president said on Friday he wanted to strengthen relations with his new U.S. counterpart Donald Trump, whose threats and barbs against the country raised fears of a major economic crisis, and battered its currency. President Enrique Pena Nieto, pilloried at home for meeting Trump in August after the New York businessman called...

  • Attorney Daniel Noble said that a request had been made for the arrest of Ban Ki- sang, who was an executive at South Korean construction firm Keangnam Enterprises Co Ltd.. Ban Ki- sang, who could not be reached for comment, was one of four people charged on Jan. 10 in a case that has complicated his brother's expected run for president of South Korea following his...

  • Jan 20- Apple Inc filed a $1 billion lawsuit against supplier Qualcomm Inc on Friday, days after the U.S. government filed a lawsuit that accused the chip maker of resorting to anticompetitive tactics to maintain a monopoly over a key semiconductor in mobile phones. In the lawsuit filed in U.S. District Court for the Southern District of California, Apple accused...

  • NEW YORK, Jan 20- A U.S. bankruptcy court judge granted Avaya Inc approval on Friday to tap $425 million of the $725 million loan proposed to carry the telecommunications company through its restructuring, funds the company said were essential to continue operations. "The company has taken a decisive step to rightsize its balance sheet," Pat Nash, one of the...

  • SAN FRANCISCO— Apple is suing mobile chip maker Qualcomm for $1 billion in a patent fight pitting the iPhone maker against one of its major suppliers. The complaint filed Friday in a San Diego federal court depicts Qualcomm as a monopolist abusing its power in a key segment of the mobile chip market to extort royalties for iPhone innovations that have nothing to...

  • Merck will make an initial payment of $625 million to Bristol and Japan's Ono. Bristol and Ono, which co-developed the first PD-1 antibody called Opdivo, filed the suit against Merck in September 2014, alleging that its sale of Keytruda, also a PD-1 antibody, infringed their patents in markets including the United States, parts of Europe, Australia and Japan.

  • *Market assessing extent of flood damage in Argentina. CHICAGO, Jan 20- U.S. corn futures touched a six-month high on Friday, buoyed by robust demand from exporters and ethanol producers, analysts said. Chicago Board of Trade March corn settled up 3-1/ 2 cents at $3.69-3/ 4 a bushel after reaching $3.70, its highest since mid-July.

  • *Index posts its highest close since Jan. 5. TORONTO, Jan 20- Canada's benchmark stock index rose to a two-week high on Friday, led by financial and resource stocks as commodity prices rose, with investors brushing off a more uncertain outlook for NAFTA after the inauguration of Donald Trump as U.S. president. A White House statement issued soon after the...

  • The gains, which snapped a 5- day losing streak for the Dow Jones industrial average, came against the backdrop of the inauguration of Donald Trump as U.S. president. The Russell 2000 index picked up 6.10 points, or 0.5 percent, to 1,351.85. The S&P 500 is down 3.33 points, or 0.2 percent.

  • The decision in the Ontario Superior Court of Justice came after the company last year persuaded a federal appeals court to block enforcement of the judgment in the United States, which it says was obtained through bribery and fraud. The rulings dealt a blow to some Ecuadorian communities and American lawyer Steven Donziger, who has spent more than two decades...

  • NEW YORK, Jan 20- The U.S. government has asked South Korea to arrest a brother of former U.N. Secretary-General Ban Ki-Moon on charges that he engaged in a bribery scheme to carry out the sale of a Vietnamese building complex, a federal prosecutor said on Friday. Attorney Daniel Noble said that a request had been made for the arrest of Ban Ki- sang, who was an executive...

  • TORONTO, Jan 20- The Canadian dollar pared earlier losses following weaker-than-expected inflation and retail sales data, to finish little changed against its U.S. counterpart on Friday. And when that didn't happen, for all intents the market feels as though it was ready to call it a week, "said Brad Schruder, director, foreign exchange sales at BMO Capital Markets.

  • Jan 20- Morgan Stanley Chief Executive James Gorman's overall pay rose 7 percent in 2016 as the Wall Street bank's stock soared and it edged closer to hitting a key profitability target. Gorman will receive $22.5 million in total compensation, up from $21 million in 2015, spokesman Mark Lake said in an email. Gorman received a $5 million stock bonus for his...

  • Jan 20- Puerto Rico Governor Ricardo Rossello on Friday criticized a set of recommendations by the federal board in charge of managing the U.S. territory's finances, signaling a potential power struggle between the government and the board on how to pull the island out of economic crisis. The board's letter had called for Puerto Rico to save more than $4.5...

  • Citing unidentified people, Bloomberg and Politico both reported Friday that the next chairman of the Federal Communications Commission will be Ajit Pai, an old hand at the agency. FCC spokesmen did not immediately reply to emails. The Republicans' FCC majority would help them roll back pro-consumer policies that upset many phone and cable industry groups,...

  • *Stocks recover some ground after paring gains on Trump speech. NEW YORK, Jan 20- The dollar ended down while U.S. stock indexes rose in the last day of a choppy trading week, as investors reacted to President Donald Trump's inaugural speech. "I think folks priced in the good stuff in that first month and now they're worried about inflation and what's the Fed going to do,...

  • New Mexico is suing Japanese manufacturer Takata and a long list of automakers in connection with the sale of cars with dangerous air bag inflators. Attorney Hector Balderas' office filed the lawsuit Friday afternoon in state district court, saying the manufacturers had a duty to ensure their products were safe and that concealment of air bag defects...

  • New YORK, Jan 20- Bristol-Myers Squibb Co shares fell 11 percent on Friday following Thursday's announcement that it would not seek accelerated approval of its immunotherapy drug combination in first-line lung cancer, further solidifying Merck& Co Inc's leading position in the burgeoning immuno-oncolgy field. Merck shares rose 3.6 percent to $62.53, while...

  • SAN FRANCISCO, Jan 20- U.S. In the days ahead of Friday's inauguration, senior executives from Morgan Stanley, Delta Air Lines and other major U.S. corporations said the Trump White House has already sparked a brighter outlook for business. "There is certainly more reason to be optimistic as we enter 2017 than there was at the beginning of 2016," Morgan Stanley CEO...