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Top News & Analysis New York

  • NEW YORK, Oct 20- General Electric Co's new chief executive vowed on Friday to shed more than $20 billion worth of assets and hold executives accountable for failing to deliver profits after what he called "horrible" results in the third quarter. GE badly missed Wall Street expectations and slashed its full-year forecast, sending shares down 1.2 percent to...

  • NEW YORK, Oct 20- New rules meant to cut out risky lending by banks in Canada are pushing home purchasers into the arms of unregulated lenders, the head of the nation's housing agency said on Friday, adding that steps could be taken to curb their growth. "Right now, the level of activity is relatively low, but we've created an incentive for it to be higher," CMHC Chief...

  • Oct 20- Procter& Gamble Co disappointed Wall Street with sales on Friday, hurt by continuing weakness in its Gillette business, a week after it claimed to have fought off hedge-fund manager Nelson Peltz's move to muscle onto the board. Net sales in the firm's first quarter results rose just 1 percent to $16.65 billion, missing analysts' expectations of $16.69...

  • *Kirkuk flows to Ceyhan still at around 200,000 bpd. NEW YORK, Oct 20- Oil prices were flat on Friday in see-saw trade, under pressure from weak U.S. demand but drawing support from a sharp decline in Iraqi crude exports due to tensions in the Kurdistan region. Oil exports from Iraq's Kurdistan via the Turkish port of Ceyhan were flowing at average rates of 216,000...

  • *Senate passes budget plan that could usher in tax reform. NEW YORK, Oct 20- World stocks climbed, along with the U.S. dollar and bond yields on Friday, as investors anticipated President Donald Trump could make progress on his fiscal plans after the U.S. Senate approved a budget blueprint that paves the way for tax cuts. Republican Senator Rand Paul appeared to back...

  • NEW YORK, Oct 20- Calling its results "horrible" and "unacceptable," General Electric Co's new chief executive vowed on Friday to shed more than $20 billion worth of assets and hold executives accountable for failing to deliver profits. But analysts had clear ideas: "GE will likely sell transportation, lighting and about anything else that isnt nailed down and very...

  • NEW YORK— Parents of small children have long been hearing about the perils of "screen time." And with more screens, and new technologies such as Amazon's Echo speaker, the message is getting louder. "I know I should limit my kid's screen time a lot, but there is reality," said Dorothy Jean Chang, who works for a tech company in New York and has a 2- year-old son.

  • GOSHEN, N.Y.— A Hudson Valley town planning board has approved the site plan for a proposed Legoland amusement park, completing a 17- month review of the project. The Times Herald-Record of Middletown reports that the Goshen, New York, planning board voted 6-0 in favor of the $500 million project Thursday. Opponents of the park have called for a referendum on the...

  • Whether she becomes a doctor depends on whether Congress finds an alternative to the Deferred Action for Childhood Arrivals program that President Donald Trump phased out last month. "It's mostly a tragedy of wasted talent and resources," said Mark Kuczewski, who leads the medical education department at Loyola University's medical school, where Arreola is...

  • *Senate passes budget plan that could pave the way for tax cuts. Oct 20- U.S. stocks inched higher on Friday as bank stocks rose and tech stocks recovered, with investor optimism back as Trump administration cleared a hurdle to lower taxes. The Republican-controlled Senate approved a budget blueprint for the 2018 fiscal year in a pursuit to legislate the tax-cut...

  • In a response late Thursday to the Securities and Exchange Commission, Axon Enterprises Inc. cited "miscommunication issues." In its final letter to the company on Sept. 20, the SEC said it was terminating the review and would "take further steps as we deem appropriate. The three letters sent by the SEC can be seen on the agency's website.

  • Oct 20- Procter& Gamble Co disappointed Wall Street with sales on Friday, a week after it claimed to have fought off hedge-fund manager Nelson Peltz's move to muscle onto the board and force more dramatic change at the consumer goods giant. Net sales in the firm's first quarter results rose just 1 percent to $16.65 billion, missing analysts' expectations of $16.69...

  • Stocks are moving higher in midday trading on Wall Street, led by gains in technology companies and banks. Synchrony Financial jumped 4.4 percent Friday and Citizens Financial rose 1.1 percent. General Electric fell 1.6 percent after slashing its earnings forecast.

  • *Senate passes budget plan that could pave the way for tax cuts. The Republican-controlled Senate approved by a 51- to-49 vote a budget blueprint for the 2018 fiscal year in a pursuit to legislate the tax-cut package without Democratic support. "The good thing is we're seeing incremental positives as we move toward tax cuts," said Art Hogan, chief market...

  • LONDON, Oct 20- Adidas has launched the first of six planned city-themed running shoe models in London as it capitalises on its first Speedfactory, which it has opened in Germany and equipped with time-saving robotics. After London it plans shoe models inspired by Paris, New York, Los Angeles, Tokyo and Shanghai. Adidas relies on more than one million workers in...

  • NEW YORK, Oct 20- General Electric Co's third-quarter profit missed Wall Street estimates by a wide margin on Friday and the industrial conglomerate slashed its earnings forecast, sending the year's worst-performing Dow stock down another 6 percent. "We're still waiting for his blueprint," said Deane Dray, analyst at RBC Capital Markets. GE cut its profit...

  • Oct 20- General Electric Co's third-quarter profit missed Wall Street estimates by a wide margin on Friday and the industrial conglomerate slashed its earnings forecast, sending the year's worst-performing Dow stock down another 6 percent. GE reported adjusted profit of 29 cents a share compared with the 49 cents a share analysts had expected, according to a...

  • GE reported adjusted profit of 29 cents a share compared with the 49 cents a share analysts had expected, according to a consensus of estimates from Thomson Reuters I/B/E/S. Excluding items, industrial cash flows from operating activities was $1.74 billion in the third quarter ended Sept. 30, down from $2.90 billion, a year earlier. Unadjusted earnings per share...

  • NEW YORK— The ambition of new CEO John Flannery to pare away everything that could stand in the way of General Electric's return to its industrial core became clearer Friday with plans to expel more than $20 billion in operations over the next couple of years. Flannery, who has been in the chair for just over two months after an early departure for long-time CEO...

  • *Nigeria promised to cap output at 1.8 mln bpd of crude. *Estimates of Nigeria's crude output: http://tmsnrt.rs/2xTcNOM. LONDON, Oct 20- When OPEC agreed to exempt Nigeria from its oil production-restraint deal last year, it knew the country faced a huge challenge in recouping output lost due to militant unrest.