Top News & Analysis New York City

  • *UK says Brexit will happen on Oct. 31. The move derailed Prime Minister Boris Johnson's plan for a decision on his withdrawal deal, but the pound held the bulk of its recent rally on confidence that a disorderly exit from the European Union would be avoided. Britain's exit had been envisaged for Oct. 31.

  • WASHINGTON, Sept 26- U.S. business investment contracted more sharply than previously estimated in the second quarter and corporate profit growth was tepid, casting a shadow on an economy that is being stalked by financial market fears of a recession. The downturn in business spending has been blamed on the Trump administration's nearly 15- month trade war...

  • LOS ANGELES, Oct 20,- Five years after Angelina Jolie's "Maleficent" cast a spell over the box office, the villainous enchantress has returned to the top of domestic charts. Despite opening below projections heading into the weekend, "Maleficent: Mistress of Evil" easily towered over competition including holdover from Warner Bros.' "Joker" and newcomer Sony's "...

  • Oct 18- Johnson& Johnson said on Friday it is recalling around 33,000 bottles of baby powder in the United States after U.S. health regulators found trace amounts of asbestos in samples taken from a bottle purchased online. J&J shares fell more than 6% to close at $127.70. Susan Nicholson, head of Womens Health in the company's medical safety organization, called...

  • Oct 18- DTE Energy's midstream business said on Friday it would buy a natural gas gathering system and pipeline in Louisiana's Haynesville shale formation for $2.25 billion in cash, expanding the unit's operations to the Gulf coast. DTE Midstream, which currently focuses on the Midwest and Northeast of the United States, will acquire M5 Louisiana Holdings...

  • *Boeing misled FAA on 737 MAX safety- Reuters. *China's GDP growth hits 30- year low. NEW YORK, Oct 18- Wall Street fell on Friday as negative headlines about Johnson& Johnson and Boeing, along with bleak economic data from China, soured investor risk appetite and offset generally positive corporate earnings.

  • *China's September refinery throughput up 9.4%. NEW YORK, Oct 18- Oil prices edged lower on Friday, as concerns about China's economy outweighed bullish signals from its refining sector, but losses were limited on hopes for progress toward a U.S.- China trade agreement. China's economic growth slowed to 6% year-on-year in the third quarter, its weakest in 27-1/ 2...

  • *Boeing misled FAA on 737 MAX safety- Reuters. *China's GDP growth hits 30- year low. NEW YORK, Oct 18- Wall Street fell on Friday as negative headlines about Johnson& Johnson and Boeing and bleak economic data from China soured investor risk appetite, offsetting generally positive corporate earnings.

  • *China's September refinery throughput up 9.4%. NEW YORK, Oct 18- Oil prices edged lower on Friday, as concerns about China's economy outweighed bullish signals from its refining sector, but losses were limited on hopes for progress toward a U.S.- China trade agreement. China's economic growth slowed to 6% year-on-year in the third quarter, its weakest in 27-1/ 2...

  • NEW YORK/ MEXICO CITY, Oct 18- Mexico's new crude oil formulas that underpin its export sales and oil hedging program highlight the growing reach of U.S. crude exports and Mexico's decision to rely on more liquid, heavily-traded international contracts. Pemex sets formulas that dictate the price at which Mexico's crude is sold worldwide. The new formulas also...

  • *China data, investor caution before Brexit vote, hits markets. NEW YORK, Oct 18- The dollar headed for its worst week in almost four months on Friday, pummelled by sterling and euro rallies driven by a deal on Britain's departure from the European Union, while China's weakest growth in nearly three decades weighed on equities. Dismal manufacturing data and worries...

  • New York- based AmEx, for long the preferred choice of affluent Americans for credit cards, however, quelled investor concerns with its ninth straight quarter of foreign exchange adjusted revenue growth of at least 8%. AmEx reaffirmed its 2019 adjusted earnings per share forecast range of $7.85 to $8.35 and said it expects revenue growth of between 8% and 10% in...

  • Oct 18- Johnson& Johnson said on Friday it is recalling around 33,000 bottles of baby powder in the United States after the U.S. health regulators found trace amounts of asbestos in samples taken from a bottle purchased online. A spokesperson for the FDA was not immediately available to comment. The FDA test indicated the presence of no greater than 0.00002% of...

  • NEW YORK, Oct 18- U.S. Treasury yields fell on Friday as investors awaited a UK vote on Britain's deal to leave the European Union this weekend, and a speech by a senior Federal Reserve official later in the day. "The bigger picture is just headlines, especially Brexit and the vote tomorrow," said Justin Lederer, an interest rate strategist at Cantor Fitzgerald in New...

  • Oct 18- U.S. retailer Sears has borrowed about $150 million from lenders, including its billionaire owner Eddie Lampert, as it racks up losses less than a year after it emerged from bankruptcy protection, people familiar with the matter said. Lampert is no stranger to bankrolling Sears, having extended loans through his hedge fund ESL Investments Inc to the...

  • DUBAI/ RIYADH, Oct 18- Saudi Aramco has delayed the planned launch of its initial public offering in hopes that pending third-quarter results will bolster investor confidence in the world's largest oil firm, two sources familiar with the matter said on Thursday. Aramco had been expected to announce plans next week to float a 1% to 2% stake on the kingdom's...

  • TOKYO, Oct 17- Little-known hotelier Unizo Holdings Co Ltd has found itself the centre of private equity attention, with global names vying for the opportunity to buy into Japan's property market on the cheap. That came after Unizo changed its mind about being bought out by Fortress Investment Group- backed by Japan's SoftBank Group Corp- whom it had enlisted to...

  • Its overall profit rose 3%, topping Wall Street expectations by a healthy margin. However, the factors that created such a difficult operating environment during the quarter have not gone away, Chief Executive James Gorman and Chief Financial Officer Jonathan Pruzan said on a call to discuss earnings. They suggested the trade dispute between the United...

  • DUBAI/ RIYADH, Oct 17- Saudi Aramco has delayed the planned launch of its initial public offering in hopes that pending third-quarter results will bolster investor confidence in the world's largest oil firm, two sources familiar with the matter said on Thursday. Aramco had been expected to announce plans next week to float a 1% to 2% stake on the kingdom's...

  • Oct 17- Wall Street rose on Thursday, with the S&P 500 and Nasdaq indexes near one-month highs on upbeat earnings from Netflix and Morgan Stanley, while investors cheered Britain's preliminary last-minute deal with the European Union. British Prime Minister Boris Johnson said "we have a great new Brexit deal", lifting the mood in global markets, but he still faces...