Top News & Analysis New York City

  • NEW YORK, June 18- U.S. Treasury yields sank on Tuesday, in line with Europe, weighed down by comments from European Central Bank President Mario Draghi hinting at more stimulus if the region's inflation fails to pick up toward its target. Draghi was extremely dovish and this had a big impact on Treasuries as we anticipate the Federal Reserve, "said Ellis Phifer,...

  • SAN FRANCISCO/ NEW YORK, June 18- Facebook plans to launch a cryptocurrency called Libra next year as part of its wider efforts to expand beyond social networking into e-commerce and global payments. Facebook said it has linked with 28 partners to form Libra Association, a Geneva- based entity governing its new digital coin, which it will launch in the first half of...

  • SAN FRANCISCO/ NEW YORK, June 18- Facebook Inc revealed plans on Tuesday to launch a cryptocurrency called Libra, the latest development in its effort to expand beyond social networking and move into e-commerce and global payments. Facebook has linked with 28 partners in a Geneva- based entity called the Libra Association, which will govern its new digital coin...

  • June 17- A federal appeals court on Monday threw out a settlement requiring insurers to pay $65 million to a court-appointed receiver for companies once run by Allen Stanford, the Texas financier serving a 110- year prison term for running a large Ponzi scheme. By a 3-0 vote, the 5th U.S. Circuit Court of Appeals said the judge who approved the accord lacked...

  • June 17- Companies going public in the United States face insurance costs that have increased as much as 200% in the last three years to cover their executives against lawsuits alleging they misled investors. A $5 million policy that cost $200,000 in 2016 can now easily cost $500,000 to $600,000, said Paul Schiavone, head of North American Financial Lines for...

  • *U.S.' Ross says Trump ready to impose tariffs without China deal. NEW YORK, June 17- U.S. Tom di Galoma, managing director at Seaport Global Securities in New York, believes a generally stable U.S. stock market should prevent the Fed from cutting rates on Wednesday.

  • June 17- Companies going public in the United States face insurance costs that have increased as much as 200% in the last three years to cover their executives against lawsuits alleging they misled investors. A $5 million policy that cost $200,000 in 2016 can now easily cost $500,000 to $600,000, said Paul Schiavone, head of North American Financial Lines for...

  • June 17- Wall Street's main indexes rose on Monday, with the tech-heavy Nasdaq leading the pack, as investors awaited a key Federal Reserve meeting that is expected to lay the groundwork for an interest rate cut later this year. The U.S. central bank is likely to leave borrowing costs unchanged at its two-day policy meeting starting Tuesday, but its statement will...

  • *Sotheby's was founded in London in 1744. PARIS/ BOSTON, June 17- Patrick Drahi, the billionaire behind telecoms and media group Altice, agreed on Monday to buy Sotheby's in a deal worth $3.7 billion, marking the storied art auction house's return to private ownership after 31 years. The acquisition will allow avid art collector Drahi to join rival French...

  • *U.S.' Ross says Trump ready to impose tariffs without China deal. Treasury yields slipped on Monday in choppy trading, weighed down by softer-than-expected U.S. economic data and persistent pressure arising from the trade conflict with China, as investors brace for this week's Federal Reserve monetary policy meeting. Tom di Galoma, managing director, at...

  • NEW YORK, June 17- U.S. Monday's sentiment has been darkened somewhat by weak U.S. economic data and persistent pressure emanating from the trade conflict with China. "The Empire manufacturing was shockingly weak," said Stan Shipley, fixed income strategist at Evercore ISI in New York.

  • The U.S. Centers for Disease Control and Prevention said https://www.cdc.gov/measles/cases-outbreaks. html the number of cases of the highly contagious and sometimes deadly disease rose 2.2% in the week ended June 13 from the prior week. Most of the new cases occurred in New York, with 13 occurring in Rockland County and eight in New York City, a CDC spokesman...

  • PARIS, June 17- Patrick Drahi, the billionaire behind telecoms and media group Altice, has agreed to buy art auction house Sotheby's in a deal worth $3.7 billion on an enterprise value basis. Sotheby's said it had signed a definitive agreement to be acquired by BidFair USA, an acquisition vehicle set up by Drahi, that had offered $57 in cash per share to buy out...

  • Congress is on the cusp of passing retirement reform legislation that will open 401 plans to annuity products which guarantee lifetime income, alongside the more typical offerings of mutual funds, target-date funds and bonds. At that point, they might take $100,000 or so from the sale of a house or a business and plunk some of it down on an annuity policy that will...

  • Executives from top U.S. chipmakers Intel and Xilinx Inc attended a meeting in late May with the Commerce Department to discuss a response to Huawei's placement on the black list, one person said. Qualcomm has also pressed the Commerce Department over the issue, four people said. Out of $70 billion that Huawei spent buying components in 2018, some $11 billion...

  • June 10- The U.S. Food and Drug Administration on Monday granted earlier-than-expected approval to Roche Holding. Wall Street analysts estimate Polivy sales at nearly $1 billion by 2024, according to IBES data from Refinitiv. Matthew Matasar, a hematologist at New York's Memorial Sloan Kettering Cancer Center who was involved in the development of Polivy,...

  • NEW YORK, June 14- U.S. stocks ended lower on Friday as investors were cautious going into next week's Federal Reserve meeting, while a warning from Broadcom of a broad weakening in global demand weighed on chipmakers and added to U.S.- China trade worries. Shares of Broadcom Inc fell 5.6% after it cut its full-year revenue forecast by $2 billion, blaming the U.S.-...

  • *Crude prices edge higher on Gulf of Oman tensions. NEW YORK, June 14- U.S. stocks ended nominally lower on Friday as investors awaited next week's Federal Reserve meeting for signs of imminent easing, while the U.S.- Iran confrontation in the Gulf of Oman added to geopolitical uncertainty, sending oil prices higher. "There's a lack of information to trade and the...

  • Shares of Broadcom Inc fell 5.5% after it cut its full-year revenue forecast by $2 billion, blaming the U.S.- China trade conflict and export curbs on Huawei Technologies Co Ltd. Losses in chip companies, who both source product and sell heavily in China, dropped sharply. Adding to China worries, Chinese data pointed to the worst slowdown in industrial growth in...

  • The attacks on oil tankers near Iran and the Strait of Hormuz pushed up oil prices by as much as 4.5% on Thursday. It was the second time in a month tankers have been attacked in the world's most important zone for oil supplies as tensions increase between the United States and Iran. Washington blamed Iran for Thursday's attacks, prompting a denial and criticism...