Top News & Analysis Ohio

  • WASHINGTON, Jan 22- U.S. home sales jumped to their highest level in nearly two years in December, the latest indication that lower mortgage rates are helping the housing market to regain its footing after hitting a soft patch in 2018, though record low inventory could be an obstacle to continued strong gains. The report from the National Association of Realtors...

  • Jan 16- Bank of America Private Bank, formerly U.S. Trust, is doubling down on efforts to court more business from the country's wealthiest individuals, an executive told Reuters. Bank of America bought U.S. Trust, a storied firm that once handled money for families like the Astors, in 2007 in a deal that vaulted the bank to top of the U.S. private banking rankings with...

  • President Donald Trump and Chinese Vice Premier Liu He will sign an initial trade deal on Wednesday that will roll back some tariffs and see China boost purchases of U.S. goods and services, defusing an 18- month conflict between the world's two largest economies. U.S. officials called the deal a huge win that marked a significant shift in Washington's...

  • Jan 14- Independent advisers to the U.S. Food and Drug Administration on Tuesday unanimously voted against Nektar Therapeutics' opioid painkiller for adults with chronic low back pain, sending the drug developer's shares down 12% in extended trading. I couldn't say the benefits outweighed the risks, "said panel member Lee Hoffer from Case Western Reserve...

  • Jan 13- The U.S. Supreme Court on Monday declined to take up a dispute that has roiled the $3.8 trillion U.S. municipal bond market over payments on special revenue bonds that grew out of Puerto Rico's ongoing bankruptcy. The justices left in place rulings last year by the Boston- based 1st U.S. Circuit Court of Appeals, which determined that payments on certain...

  • Jan 13- The U.S. Supreme Court on Monday declined to take up a dispute that has roiled the $3.8 trillion U.S. municipal bond market over payments on special revenue bonds that grew out of Puerto Rico's ongoing bankruptcy. The justices left in place lower court rulings dismissing lawsuits by bond insurance companies Assured Guaranty Corporation and Ambac...

  • "The solid job growth at the end of 2019 set the stage for continued strength from the consumer in 2020, helping to keep the economy chugging along at a decent clip," said Ben Ayers, senior economist at Nationwide in Columbus, Ohio. Worries that a downturn might be triggered by the Trump administration's trade war with China spurred the Fed to cut interest rates...

  • BALTIMORE/WASHINGTON, Jan 3- Top U.S. But they also noted the longest U.S. expansion on record could still fall victim to outside shocks, such as this week's dramatic escalation of tensions between the United States and Iran. I'm encouraged by recent jobs reports and the pace of holiday spending, "with last year's round of three Fed rate cuts helping prop up demand...

  • BOSTON, Dec 23- Three U.S. Democratic senators have asked the investigative arm of Congress to evaluate a $1 billion- a-year subsidy for burning chemically treated refined coal, after research has shown that some power plants using the fuel produced surging amounts of mercury and smog instead of cutting pollution. Senator Sheldon Whitehouse of Rhode Island, as...

  • BOSTON, Dec 23- Three U.S. Democratic senators have asked the investigative arm of Congress to evaluate a $1 billion- a-year subsidy for burning chemically treated refined coal, after research has shown that some power plants using the fuel produced surging amounts of mercury and smog instead of cutting pollution. Senator Sheldon Whitehouse of Rhode Island, as...

  • BOSTON, Dec 23- Three U.S. Democratic senators have asked the investigative arm of Congress to evaluate a $1 billion- a-year subsidy for burning chemically treated refined coal, after research has shown that some power plants using the fuel produced surging amounts of mercury and smog instead of cutting pollution. Senator Sheldon Whitehouse of Rhode Island, as...

  • WASHINGTON, Dec 19- The U.S. House of Representatives overwhelmingly approved a new North American trade deal on Thursday that includes tougher labor and automotive content rules but leaves $1.2 trillion in annual U.S.- Mexico- Canada trade flows largely unchanged. The House vote sends the measure to the Senate, but it is unclear when Senate Republican leader...

  • WASHINGTON, Dec 18- Nearly half the U.S. counties carried by President Donald Trump in the 2016 election were arguably in recession at the time, with local economic output shrinking during a campaign that focused on the declining fortunes of blue-collar America. New data released by the U.S. Commerce Department's Bureau of Economic Analysis show how a national...

  • WASHINGTON, Dec 16- Wall Street bank lobbyists are seeking moderate Democratic allies in Congress to deprive Elizabeth Warren of votes and curb policies they consider hostile to their interests, according to more than a dozen lobbyists, consultants and campaign data. "While a hostile White House could pose challenges, the banking industry is working to...

  • DETROIT, Dec 11- The United Auto Workers union said on Wednesday that rank-and-file members at Fiat Chrysler Automobiles NV have voted in favor of a new four-year labor contract with the automaker, helping the Italian-American firm avoid a strike as it works to merge with France's Groupe PSA. Fiat Chrysler and PSA, the maker of Peugeot and Citroen, in October...

  • Amazon van drivers delivered 93.7% of U.S. packages on time during the week ending Dec. 7, down from 98.2% during the prior week that included Thanksgiving, ShipMatrix said. "Some deliveries were briefly impacted by weather but we worked quickly to re-balance capacity across our network," spokeswoman Rena Lunak said in a statement. They are expected to drop off...

  • Dec 11- On-time delivery rates fell for Amazon.com Inc van drivers during the week ended Dec. 7, when the world's top online retailer was slammed with record Cyber Monday orders and regional winter storms, consulting firm ShipMatrix said on Wednesday. Amazon van drivers delivered 93.7% of U.S. packages on time during Cyber Monday week, down from 98.2% during the...

  • *China's Copper Scrap Imports 2004-2019:. LONDON, Dec 11- China's war on "foreign garbage" continues apace. Less than three years after China told the World Trade Organization it was going to ban imports of "solid waste", it is close to doing just that.

  • Last year, the country's top markets regulator proposed reworking a program that allows the SEC to reward tipsters whose original information leads to a penalty exceeding $1 million with between 10% and 30% of the fine. Reuters reported last month that SEC Chair Jay Clayton was rethinking some of the changes, which would give the SEC discretion to reduce...

  • WARREN, Michigan, Dec 5- General Motors Co and South Korea's LG Chem said on Thursday they will invest $2.3 billion to build an electric vehicle battery cell joint venture plant in Ohio, creating one of the world's largest battery facilities. The plant, to be built near GM's closed assembly plant in Lordstown in northeast Ohio, will employ more than 1,100 people, the...