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Top News & Analysis New York

  • May 24- The United Auto Workers union has filed a complaint accusing Tesla Inc Chief Executive Elon Musk of illegally threatening to take away benefits from workers who join the union. The UAW, which is seeking to represent workers at Tesla's facility in Fremont, California, filed the complaint with the National Labor Relations Board late on Wednesday.

  • May 24- U.S. stocks fell on Thursday after President Donald Trump canceled a planned historic summit with North Korean leader Kim Jong Un and threatened tariffs on auto imports while trade tensions with China simmered. The market was already lower earlier, due to a slide in oil prices and worries that Trump ordering a national security probe into car and truck...

  • PURCHASE, N.Y., May 24- Morgan Stanley shareholders sided with the company's board on all votes taken at their annual meeting on Thursday, electing the slate of directors and endorsing the company's compensation of top executives. Chief Executive Officer James Gorman was paid $27 million for 2017, up 20 percent from the year before. The measure had been proposed...

  • May 24- The United Auto Workers International Union has filed a complaint accusing Tesla Inc Chief Executive Elon Musk of illegally threatening to take away benefits from workers who join the union. The UAW, which is seeking to represent workers at Tesla's facility in Fremont, California, filed the complaint with the National Labor Relations Board late...

  • *Existing home sales fall 2.5 percent in April. WASHINGTON, May 24- U.S. home sales tumbled in April as an acute shortage of properties limited choices for potential buyers, the latest sign that the housing market was struggling to regain momentum. The National Association of Realtors said existing home sales fell 2.5 percent to a seasonally adjusted annual rate...

  • *Trump cancels summit with North Korea scheduled for next month. *Wall Street opens lower on U.S.- North Korea. Trump, in a letter to North Korea released by the White House, called off the June 12 summit, citing "tremendous anger and open hostility" in a recent statement by the East Asian country.

  • May 24- U.S. stocks tumbled on Thursday after President Donald Trump canceled a planned historic summit with North Korean leader Kim Jong Un, heightening concerns over his latest protectionist move as trade tensions with China simmer. The market was already lower earlier, due to a slide in oil prices and worries that Trump ordering a national security probe...

  • NEW YORK— McDonald's isn't ready to stop offering plastic straws, despite environmental concerns. A New York city councilman introduced a bill this week saying restaurants should replace plastic straws with paper or metal alternatives. Seattle and Miami Beach have passed bans on plastic straws.

  • The firm's upsized initial public offering of 38 million shares was priced at $23 per share earlier on Thursday, raising about $874 million. The stock was last higher by 1 cent at $23.01 in late morning trading. While many technology-driven online lenders such as LendingClub and OnDeck Capital have struggled to grow their loan portfolios, weighed down by...

  • *OPEC, non- OPEC may ease cuts' softly'- Novak. NEW YORK, May 24- Oil prices fell about 1 percent on Thursday, with expectations building that OPEC could wind down the output deal in place since the start of 2017, due to supply concerns out of Venezuela and Iran. Russian Energy Minister Alexander Novak said production cuts could be eased "softly" if OPEC and non- OPEC...

  • May 24- Pfizer Inc agreed to pay $23.85 million to resolve U.S. government charges that the drugmaker used a purportedly independent charity to pay illegal kickbacks to Medicare patients covering their out-of-pocket drug costs. The U.S. Department of Justice said on Thursday that the civil settlement resolves allegations that Pfizer improperly used the...

  • Rising trade tensions between the U.S. and China have battered the stock market overall recently, and the S&P 500, which tracks large U.S. companies, has yet to recover the steep losses it took as investors worried about a possible trade war that could slow the growth of the global economy. Since the market's recent low on Feb. 8, the Russell 2000 index of small...

  • NEW YORK, May 24- Best Buy Co Inc, the No. 1 U.S. consumer electronics retailer, posted a deceleration in online sales during the first quarter and did not update its full-year financial outlook, sending its shares sliding in early trade. Online sales growth decelerated meaningfully, "said Jason Benowitz, analyst and senior portfolio manager at The Roosevelt...

  • May 24- U.S. stocks dropped on Thursday after President Donald Trump canceled a planned summit with North Korean leader Kim Jong Un, while a slide in oil prices and bank stocks also weighed as investors grappled with fresh U.S. protectionist plans. Trump on Wednesday ordered a national security probe into car and truck imports that could lead to new tariffs, with...

  • NEW YORK, May 24- Best Buy Co Inc, the No. 1 U.S. consumer electronics retailer, posted a deceleration in online sales during the first quarter, sending its shares sliding in pre-market trade, as investors shrugged off strong quarterly sales and earnings performance. Best Buy's Chief Financial Officer Corie Barry said on a call with investors first-quarter online...

  • Stocks are skidding after President Donald Trump canceled a meeting with North Korean leader Kim Jong Un. Energy companies are falling along with oil prices as investors respond to reports the nations of OPEC may start producing more oil. Exxon Mobil lost 2.3 percent.

  • May 24- Online lending platform GreenSky's initial public offering was priced at the higher end of its targeted range on Thursday, in the latest sign of Wall Street enthusiasm for financial technology companies. While many technology-driven online lenders such as LendingClub and OnDeck Capital have struggled to grow their loan portfolios, weighed down by...

  • Treasury yields fell on Thursday as concerns about U.S. talks with North Korea and a tumbling Turkish lira boosted demand for low-risk U.S. debt. North Korea followed through on a pledge to blow up tunnels at its nuclear test site on Thursday, media reported, after announcing in April it would suspend nuclear and missile tests and scrap the test site.

  • May 24- U.S. stocks were set to open lower on Thursday as rising concerns over U.S. trade protectionism, this time around car imports, overshadowed optimism that the Federal Reserve may be more tolerant of rising inflation than previously expected. The Trump administration launched a national security probe into car and truck imports on Wednesday that could...