Top News & Analysis New York

  • 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...

  • *Crude prices edge higher on Gulf of Oman tensions. NEW YORK, June 14- Equity markets lost ground on Friday as weak Chinese data stoked investor anxieties over a global growth slowdown and mounting fears of a U.S.- Iran confrontation added to geopolitical uncertainty, sending oil prices higher. Attacks on two oil tankers in the Gulf of Oman lifted oil prices,...

  • Rendering of the Krispy Kreme Times Square flagship.

    The Krispy Kreme flagship store, coming in early 2020, will be open 24/7. Here's what it will have.

  • NEW YORK/ LONDON, June 14- Raw sugar prices on ICE rose on Friday to hit a fresh 1-1/ 2- month high, underpinned by expectations of strong ethanol demand and reduced Indian production, while cocoa and coffee prices slipped. *Prices rose 1.9% on the week, underpinned by technically driven buying and moves by top growers Ivory Coast and Ghana to set a floor price for cocoa.

  • *Tech leads Wall Street lower. NEW YORK, June 14- Equity markets struggled and safe-haven assets like gold were in demand on Friday as weak Chinese data stoked investor anxieties over a global growth slowdown and fears of a U.S.- Iran confrontation added to geopolitical uncertainty. "Any time you have weak economic news coming out of China it highlights the fact...

  • NEW YORK, June 14- The Federal Open Market Committee meeting next week is shaping up as a pivotal one for Wall Street, with stocks primed for a selloff should the Fed fail to take an even more dovish tilt after policymakers raised expectations for a rate cut in recent weeks. Bets for a rate cut were amplified by comments from Fed Chairman Jerome Powell on June 4, who...

  • Thinking of relocating to Nevada for its income tax-free environment? Chances are your home state's auditors won't let you go quietly. Here are five things that will keep you from making a clean break.

  • *Tech leads Wall Street lower. NEW YORK, June 14- Equity markets struggled and safe-haven assets like gold were in demand on Friday as weak Chinese data stoked investor anxieties over a global growth slowdown and fears of a U.S.- Iran confrontation added to geopolitical uncertainty. "Any time you have weak economic news coming out of China it highlights the fact...

  • *China's May industrial output growth cools to 17- yr low. June 14- Wall Street's main indexes dropped on Friday, as shares of chipmakers sank on a warning from sector major Broadcom of a broad weakening in global demand and Chinese data pointed to the worst slowdown in industrial growth in 17 years. Shares of Broadcom Inc plunged 6.83% after it cut its full-year...

  • NEW YORK, June 14- The dollar index climbed to its highest level in a week on Friday after encouraging retail sales data for May eased fears that the U.S. economy is slowing sharply, ahead of the Federal Reserves meeting next week. The Commerce Department said on Friday retail sales rose 0.5% last month, just slightly below economists expectations of a 0.6% gain.

  • LONDON/ BENGALURU, June 14- Broadcom Inc sent a shockwave through the global chipmaking industry on Friday with its forecast that U.S.- China trade tensions and the ban on doing business with Huawei Technologies would knock $2 billion off the company's sales this year. The forecast, included in the company's second quarter results late on Thursday, was the...

  • WASHINGTON, June 14- Huawei is demanding Verizon Communications Inc pay $1 billion to license the rights to patented technology, signaling a potential shift in the embattled Chinese company's strategy for the U.S. market. The Wall Street Journal first reported on the letter on Wednesday. Verizon spokesman Rich Young declined to comment regarding this...

  • June 13- Daniel Loeb's activist hedge fund Third Point LLC called on Sony Corp on Thursday to spin off its semiconductor business and sell off stakes in Sony Financial and other units, in order to position itself as a leading global entertainment company. The semiconductor division is "often treated by investors as an afterthought" and should be spun off into a...

  • *U.S. provides no explicit evidence for accusing Iran. *Iran says it' categorically rejects' U.S. assertion. DUBAI/ WASHINGTON, June 13- The United States blamed Iran for attacks on two oil tankers in the Gulf of Oman on Thursday that drove up oil prices and raised concerns about a new U.S.-Iranian confrontation, but Tehran bluntly denied the allegation.

  • *Iran says it "categorically rejects" U.S. assertion. DUBAI/ WASHINGTON, June 13- The United States blamed Iran for attacks on two oil tankers in the Gulf of Oman on Thursday that drove up oil prices and raised concerns about a new U.S.-Iranian confrontation. Iran "categorically rejects the U.S. unfounded claim with regard to 13 June oil tanker incidents and condemns...

  • NEW YORK, June 13- Chewy Inc said on Thursday it priced its initial public offering at $22 per share, above its target, and sold more stock than originally planned, valuing the online pet products retailer at $8.77 billion. Chewy had set a price range of $19 to $21 per share, which was raised earlier this week from $17 to $19 per share. At $22 per share, PetSmart will...