Top News & Analysis New York City

  • NEW YORK, Oct 15- The real estate investment trusts that own the malls and shopping centers where many Sears stores are anchor tenants have waited years for the retailer's demise to renovate the sites and boost rent, although redevelopment costs may strain some plans. Most large U.S. malls are controlled by REITs. Gaining control of vacated sites will be costly,...

  • *Apple drops as Goldman Sachs warns on China demand. *Defensive real estate, utilities, consumer staples gain. NEW YORK, Oct 15- U.S. stocks ended lower in a choppy trading session on Monday, dragged down by technology stocks amid lingering worries over interest rates and corporate earnings.

  • Southeast were still without power on Monday after Hurricane Michael swept up the East Coast from Florida last week, according to local power companies. In total, Michael caused over 3 million outages from Florida to New York after hitting the Florida Panhandle as a Category 4 storm with maximum sustained winds of 155 miles per hour. The Florida Division of...

  • NEW YORK, Oct 15- U.S. But other details of the report from the U.S. Commerce Department on Monday were upbeat and suggested that consumer spending ended the third quarter with strong momentum, which should provide a boost to economic growth despite anticipated drags from weak exports and a struggling housing market. "The market will likely settle into its new...

  • *Apple drops as Goldman Sachs warns on China demand. NEW YORK, Oct 15- The benchmark S&P 500 index edged lower in choppy trade on Monday as technology stocks were pressured by lingering worries over interest rates and corporate earnings, while gaining Disney shares helped keep the Dow positive. Walt Disney Co shares rose 1.5 percent after the company offered...

  • NEW YORK, Oct 15- Oil prices steadied on Monday, supported by geopolitical tension over the disappearance of a Saudi journalist that has stoked worries about supplies from Riyadh, but weighed by concern over long-term demand outlook. However, rising geopolitical tension between the United States, the world's top oil consumer, and Saudi Arabia, one of the biggest...

  • NEW YORK, Oct 15- U.S. "The market will likely settle into its new range after the volatile trading of the past couple of weeks," said Boris Rjavinski at Wells Fargo Securities in New York. Last week, the benchmark 10- year Treasury yield reached 3.261 percent, which was last seen in May 2011, while the 30- year yield hit a four-year peak at 3.446 percent.

  • SAN FRANCISCO, Oct 15- Dozens of employers looking to hire the next generation of tech employees descended on the University of California, Berkeley in September to meet students at an electrical engineering and computer science career fair. Boris Yue, 20, was one of thousands of student attendees, threading his way among fellow job-seekers to meet recruiters.

  • *IEA cuts forecasts for oil consumption and demand for OPEC crude. Brent crude futures fell 6 cents to $80.37 a barrel by 1:02 p.m. EDT. Riyadh has been under pressure since journalist Jamal Khashoggi, a critic of the kingdom and a U.S. resident, disappeared on Oct. 2 after visiting the Saudi consulate in Istanbul.

  • NEW YORK, Oct 15- The real estate investment trusts that own the malls and shopping centers where many Sears stores are anchor tenants have waited years for the retailer's demise to renovate the sites and boost rent, although redevelopment costs may strain some plans. Most large U.S. malls are controlled by REITs. Gaining control of vacated sites will be costly,...

  • NEW YORK, Oct 15- Stephen Pagliuca, co-chairman at U.S. private equity firm Bain Capital, will not attend a high-profile conference in Saudi Arabia, a source familiar with the matter said on Monday.

  • "It was definitely a surprise when some of the other banks had better-than-expected loan growth," said R.J. Grant, head of trading at Keefe, Bruyette& Woods. Bank of America's total loan book grew 0.3 percent to $930 billion during the third quarter compared with the year-ago period. Bank of America shares were 48 cents lower at $27.98 shortly after midday.

  • NEW YORK, Oct 15- Fidelity Investments has launched a new company for its institutional clients that will trade and store digital assets such as bitcoin, the asset manager said on Monday. Fidelity Digital Asset Services LLC will electronically buy and sell cryptocurrencies on behalf of hedge funds, family offices and other financial institutions, it said.

  • "It was definitely a surprise when some of the other banks had better-than-expected loan growth," said R.J. Grant, head of trading at Keefe, Bruyette& Woods. Bank of America's total loan book grew 0.3 percent to $930 billion during the third quarter compared with the year-ago period. On a conference call with reporters, Chief Financial Officer Paul Donofrio said...

  • *IEA cuts forecasts for oil consumption and demand for OPEC crude. NEW YORK, Oct 15- Oil prices steadied on Monday, supported by geopolitical tension over the disappearance of a Saudi journalist, which has stoked worries about supplies from the world's top crude exporter, but weighed by a falling equities market and concern over long-term demand outlook.

  • *Safe havens yen, Swiss franc gain on tensions with Saudi Arabia. NEW YORK, Oct 15- The U.S. dollar dipped on Monday after retail sales data for September missed economists expectations, and as benchmark U.S. We had softer than expected retail sales, that was another leg of dollar selling, said Win Thin, global head of currency strategy at Brown Brothers Harriman in New...

  • NEW YORK, Oct 15- When people over the age of 50 get divorced, retirement accounts become a key asset, even more so sometimes than the house or alimony. While most of the tax law changes that were signed at the end of 2017 are in effect for the current tax year, the divorce disruption does not kick in until Jan. 1, 2019. Divorce attorney Malcolm Taub, of Davidoff Hutcher&...

  • *SEARS HOLDINGS CORPORATION FILES FOR CHAPTER 11 BANKRUPTCY IN U.S. BANKRUPTCY COURT IN SOUTHERN DISTRICT OF NEW YORK- COURT FILING. *SEARS HOLDINGS CORPORATION LISTS ASSETS OF $1 BILLION TO $10 BILLION; LIABILITIES OF $10 BILLION TO $50 BILLION- COURT FILING Further company coverage:.

  • Oct 14- Sears Holdings Corp CEO Eddie Lampert has stepped in to contribute towards a financing package of between $500 million and $600 million that the U.S. department store operator was close to securing on Sunday to fund operations during bankruptcy proceedings, people familiar with the matter said. Lampert, who is also the company's largest shareholder...