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Top News & Analysis North America

  • WASHINGTON, Oct 20- President Donald Trump is considering nominating Federal Reserve Governor Jerome Powell and Stanford University economist John Taylor for the central bank's top two jobs, in an apparent bid to reassure markets and appease conservatives hungry for change. Under that scenario, either Powell or Taylor would take the reins from Fed Chair...

  • EAST LANSING, Mich.— Dan Gilbert knows Detroit is vying against a slew of cities to lure Amazon's second headquarters. You also have a huge, deep talent base in Canada and special universities. " Detroit Mayor Mike Duggan asked Gilbert to put the proposal together on behalf of the region.Gilbert said a "big, thick proposal with pictures" was delivered to Amazon on...

  • Oct 20- A California judge on Friday threw out a $417 million verdict against Johnson& Johnson in a lawsuit by a woman who claimed she developed ovarian cancer after using its talc-based products like Johnson's Baby Powder for feminine hygiene. The ruling by Los Angeles Superior Court Judge Maren Nelson marked the latest setback facing women and family...

  • **FRANKFURT- Welcome address by ECB Chief Economist Peter Praet at the ECB conference on Credit, Banking and Monetary Policy in Frankfurt, Germany 0700 GMT. **LONDON- Participation by ECB Bank Supervisory Chief Daniele Nouy in "Everything is connected the international dimension of banking regulation and supervision" at the Centre for European Law organized by...

  • WASHINGTON— Federal Reserve Chair Janet Yellen on Friday defended the central bank's extraordinary efforts to fight the Great Recession and said they might be needed again. During the recession, the Fed pushed short-term interest rates to zero. "The U.S. economy has made great strides," Yellen said in a speech Friday at a gathering of the National Economists Club...

  • CHICAGO, Oct 20- Monsanto Co sued Arkansas agricultural officials on Friday to stop a proposed summer ban on a weed killer linked to widespread crop damage beyond the major farm state's borders. To prevent damage, the Arkansas plant board advanced a proposal at a September meeting that put the state just one step away from banning dicamba sprayings after April...

  • Oct 20- The chief executive of Canadian retailer Hudson's Bay Co, Gerald Storch, abruptly resigned on Friday, at a time when the department store company is in the middle of a strategic review and struggling to turn around sales. Storch will step down effective Nov. 1 to return to his advisory firm Storch Advisors, Hudson's Bay said in a statement.

  • Oct 20- Experimental communications balloons provided by Alphabet Inc in collaboration with AT&T Inc will allow some of the carrier's customers in storm-ravaged Puerto Rico to send texts and access critical information on the internet, Alphabet said on Friday. This month, the U.S. Federal Communications Commission approved Alphabet's application to...

  • 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. But the stock rebounded and closed up 1 percent at $23.83 after CEO John Flannery said he will focus the company on...

  • KENNER, La.— Authorities have found the body of a man who was killed during an explosion on an oil and gas platform in Louisiana's Lake Pontchartrain. Jefferson Parish Sheriff Joe Lopinto said a helicopter spotted the body of 44- year-old Timothy Morrison on Friday afternoon. Morrison, of Katy, Texas, was a contract worker on the platform when the explosion...

  • CHICAGO, Oct 20- Monsanto Co sued Arkansas agricultural officials on Friday to stop proposed restrictions on the use of a weed killer linked to widespread U.S. crop damage, setting up a legal battle between the agrichemical company and a major farm state. Last month, the Arkansas plant board advanced a proposal putting the state just one step away from banning...

  • up to 50,000 high-paying jobs and $5 billion- plus worth of investment. --New Jersey is offering a potential $7 billion in local and state tax credits if the company picks Newark and meets hiring commitments.-- Chicago assembled a committee of political and business leaders to work on its pitch and on Friday released several potential sites including a massive, but...

  • MENLO PARK, Calif.— Google's parent Alphabet Inc. said Friday that its stratospheric balloons are now delivering the internet to remote areas of Puerto Rico where cellphone towers were knocked out by Hurricane Maria. Two of the search giant's "Project Loon" balloons are already over the country enabling texts, emails and basic web access to AT&T customers with...

  • NEW YORK, Oct 20- It has been a rough 16 years for General Electric Co and its shareholders. When recently retired Chief Executive Jeff Immelt took over at the helm of GE in September 2001, the conglomerate was the most valuable U.S. publicly traded company, giving it outsized influence on the stock market. Immelt's successor John Flannery derided the results as "...

  • HOUSTON— The number of rigs exploring for oil and natural gas in the U.S. declined by 15 this week to 913.. Among major oil- and gas-producing states, Texas lost eight rigs, Alaska and Wyoming each declined by two and New Mexico and Utah each lost one. Arkansas, California, Colorado, Kansas, Louisiana, North Dakota, Ohio, Oklahoma, Pennsylvania and West Virginia were...

  • *Tax plan clears hurdle in Senate. Trump's drive to overhaul the U.S. tax code cleared a critical hurdle on Thursday when the Senate approved a budget measure that will allow Republicans to pursue a tax-cut package without Democratic party support. But Republicans, who control both the Senate and House of Representatives, have yet to produce a tax reform bill as a...

  • Storch has been the CEO of Toronto- based Hudson's Bay, which also operates the department store chain under its namesake, since January 2015. Hudson's Bay says it has retained an executive search firm to recruit a new CEO. The news comes after reportedly unsuccessful efforts this year to merge Hudson's Bay with department store operators Macy's Inc. and Neiman...

  • SAN FRANCISCO, Oct 20- Social media company Snap Inc said on Friday it had laid off 18 people in its recruiting division, an unusual move for a young company with ambitious growth plans and a likely reflection of tough competition from Facebook Inc.. Venice, California- based Snap, the parent company of messaging app Snapchat, declined to comment beyond its...

  • WASHINGTON, Oct 20- President Donald Trump's tax reform plans won partial support on Friday when Republican U.S. Trump's drive to overhaul the U.S. tax code cleared a critical hurdle on Thursday when the Senate approved a budget measure that will allow Republicans to pursue a tax-cut package without Democratic support. But Republicans, who control both the...

  • SAN FRANCISCO— A federal appeals court has revived a lawsuit that accuses Kimberly-Clark of falsely advertising that four of its cleansing wipes were flushable. A three-judge panel of the 9th U.S. Circuit Court of Appeals said Friday the lawsuit provided adequate support for the allegation that Kimberly-Clark's wipes were not safe to dispose in the toilet.