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Top News & Analysis New York City

  • Aug 18- After paying customers millions of dollars for opening phony accounts they did not want, Wells Fargo& Co has said it is now grappling with the possibility it harmed customers by closing real accounts they needed, leaving them without access to funds. Wells, the third-largest U.S. bank, disclosed in a regulatory filing on Aug. 4 that the Consumer Financial...

  • NEW YORK, Aug 18- U.S. Treasury yields nudged higher on Friday as the exit of senior White House adviser Stephen Bannon, known for his economic nationalist views, revived the appetite for stocks and reduced it for lower-yielding bonds. You have had a lot of drama in Washington, "said Michael Schumacher, head of rate strategy at Wells Fargo Securities in New York.

  • NEW YORK— Piracy is a long-running and even routine issue for Hollywood, whether it's street vendors hawking bootleg DVDs on street corners or video uploaded to file-sharing sites like Pirate Bay. Although the recent HBO leaks so far have fallen well short of the damage inflicted on Sony, there were concerns early on that hackers were setting the stage for an...

  • *European shares fall; Barcelona attack weakens travel stocks. President Donald Trump fired chief strategist Steve Bannon on Friday, the White House announced, ending the turbulent tenure of a rabble-rousing conservative media entrepreneur and political activist who was a darling of Trump's base. "Theres a lot of hopeful people thinking that, you know what, he...

  • NEW YORK, Aug 18- The biotech industry is facing high rents and tight lab space in Boston, New York and San Francisco, forcing companies into the suburbs in a sign the "live, work and play" movement into big cities may have hit a roadblock. The start-up's search for adequate facilities is shared by other biotech firms that are encountering tight lab availability in New...

  • ALBANY, N.Y.— In a decision held up as an affirmation of the right of states to reject major oil and gas infrastructure, a federal court ruled Friday that New York acted properly when it blocked plans for a 124- mile natural gas pipeline from Pennsylvania's shale fields. "We hope this sends a loud message that New York will not rubber stamp any project that fails to...

  • NEW YORK— Tech companies' efforts to banish extremist groups and individuals are continuing as a social network popular with extremists disappeared from Google's Android app store. The banishments come in the wake of the deadly clash at a white-nationalist rally last weekend in Virginia. Facebook removed several groups and individuals from its service and...

  • NEW YORK, Aug 18- The top U.S. securities regulator on Friday dropped its civil lawsuit accusing two former JPMorgan Chase& Co traders of trying to hide some of the bank's $6.2 billion of losses tied to the 2012 "London Whale" scandal. The decision by the U.S. Securities and Exchange Commission to dismiss charges against Javier Martin-Artajo and Julien Grout came...

  • *Trump legislative failures, valuations worry Wall Street. NEW YORK, Aug 18- The dollar fell to a four-month low against the Japanese yen on Friday as investors sought out the safe-haven currency in light of uncertainty about the White House's ability to push through its economic agenda. President Donald Trump can get Congress to pass the pro-growth measures...

  • NEW YORK, Aug 18- Glenview Capital Management, Tenet Healthcare Corp's largest shareholder, pulled its two representatives off the hospital company's board, citing "irreconcilable differences" over strategy. Tenet said on Friday that Glenview executives Randy Simpson and Matt Ripperger had resigned from the board on Thursday. Hedge fund Glenview owned...

  • The company, called Chicken Soup for the Soul Entertainment Inc., offered 2.5 million shares for $12 each. The company was founded by motivational speakers Jack Canfield and Mark Victor Hansen in 1993. Chicken Soup for the Soul Entertainment CEO William Rouhana described it as a Netflix for Chicken Soup fans.

  • Stocks closed slightly lower on Wall Street after a midday rally ran out of gas. Foot Locker plunged 28 percent after reporting a weak quarter. Deere fell 6 percent after its third-quarter sales came up short of Wall Street estimates.

  • Aug 18- Nestle SA on Friday paddled back claims in a new lawsuit in which Atari SA accused the Swiss food company of pilfering its classic 1970 s video game "Breakout" to help sell Kit Kat chocolate-covered wafer bars. Nestle damaged Atari's goodwill and reputation on Facebook, Twitter and television by exploiting the name, look and feel of "Breakout," it said in a...

  • Aug 18- AT&T Inc is exploring options for its Digital Life home security business, including selling it, as it seeks to pay down debt following its planned $85.4 billion acquisition of Time Warner Inc, people familiar with the matter said. While this would do little to reduce the AT&T's debt, which totaled $143.7 billion on June 30, the sale could be a prelude to more...

  • Aug 18- Cosmetics maker Estee Lauder Cos Inc forecast full-year profit ahead of analysts' estimates and posted higher-than-expected quarterly results, driven by strong demand for its brands such as M.A.C, Tom Ford and Smashbox. Sales in the company's makeup unit, which sells brands such as Tom Ford, Smashbox and La Mer, rose 16 percent to $1.31 billion.

  • NEW YORK— The CEO of 21st Century Fox denounced racism and terrorists while expressing concern over President Donald Trump's reaction to the deadly violence surrounding a white nationalist rally in Charlottesville, Virginia. James Murdoch also told friends in a personal email that he and his wife, Kathryn, will donate $1 million to the Anti-Defamation...

  • NEW YORK _ Estee Lauder Companies Inc. on Friday reported fiscal fourth-quarter earnings of $229 million. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share. Seven analysts surveyed by Zacks expected $2.85 billion.

  • Net income attributable to the company rose to $229 million, or 61 cents per share, in the fourth quarter ended June 30, from $94 million, or 25 cents per share, a year earlier. Excluding items, the company earned 51 cents per share, beating analysts' average estimate of 43 cents per share, according to Thomson Reuters I/B/E/S. The New York City- based company's net sales...

  • NEW YORK _ Foot Locker Inc. on Friday reported fiscal second-quarter profit of $51 million. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share. Foot Locker shares have dropped 33 percent since the beginning of the year.

  • LONDON, Aug 18- World stocks were set for a second day of losses on Friday after an exodus of U.S. executives from presidential business councils dealt a fresh blow to hopes of tax reform and deadly attacks in Barcelona hit shares in European tourism firms. President Donald Trump's latest controversial comments on violence that flared in Charlottesville,...