Top News & Analysis Philadelphia

  • Some of the reduction can be attributed to the closure of the 335,000 bpd Philadelphia Energy Solutions refinery on the East Coast following an explosion and fire on June 21. East Coast processing has fallen 138,000 bpd this year, but processing is also down by 147,000 bpd on the Gulf Coast and by 54,000 bpd on the West Coast. Nationwide processing has fallen by...

  • *U.S., China getting close to trade deal- White House adviser. Nov 15- Wall Street's main stock indexes closed at record levels on Friday, fueled by fresh optimism over a potential calming of U.S.- China trade tensions and by big gains in shares of healthcare companies. White House economic adviser Larry Kudlow said late on Thursday that the United States and China...

  • *U.S., China getting close to trade deal- White House adviser. Nov 15- Wall Street's main stock indexes hit record highs on Friday, fueled by fresh optimism over a potential calming of U.S.- China trade tensions and by a strong forecast from semiconductor industry bellwether Applied Materials. White House economic adviser Larry Kudlow said late on Thursday that...

  • Nov 15- U.S. stock index futures rose on Friday, as positive comments related to the U.S.- China trade talks and strong earnings from semiconductor industry bellwether Applied Materials put the S&P 500 and Dow on track to hit fresh highs. Kudlow's comments eased nerves after reports that talks had hit a snag over how and when to reduce tariffs, and what level of...

  • NEW YORK, Nov 14- A U.S. bankruptcy judge on Thursday approved a process for the sale of the Philadelphia Energy Solutions oil refinery, the largest and oldest on East Coast, under which city officials and a trade union will consult on the matter. The plan resolves earlier objections by giving the United Steelworkers union and Philadelphia city officials access...

  • LONDON, Nov 13- Chinas alarming economic data for October are sobering for world markets, which had become grown comfortable in recent weeks about avoiding a global downturn next year. With no signs that phase one of a trade agreement between Washington and Beijing has been struck, a slowdown in Chinese factory output growth last month alongside poor retail and...

  • *Trump said trade deal with China is "close". NEW YORK, Nov 12- Global equity markets and the dollar rose on Tuesday as U.S. President Donald Trump reiterated the United States is close to signing a trade deal with China but offered no new details.

  • NEW YORK, Nov 12- Equity markets and government bond yields rose on Tuesday as investors awaited a speech by U.S. President Donald Trump on U.S. trade policy, in which he is expected to discuss talks with China and a tariff decision on European automakers. First, that there would be reassurances the China talks were progressing and second, that there would be a nod to...

  • *CBS drops on revenue miss. Nov 12- A rise in technology stocks drove the S&P 500 and Nasdaq indexes to new record highs on Tuesday, while investors awaited a speech by President Donald Trump for clarity on U.S.- China trade relations. Trump is scheduled to discuss the country's trade policy at the Economic Club of New York later on Tuesday where investors will look...

  • NEW YORK, Nov 8- U.S. and local officials are opposing the sale procedure for the bankrupt Philadelphia Energy Solutions oil refinery, arguing the plan discourages bidders and keeps the city locked out of the process, according to federal court filings. Trustee Andrew Vara argued in a filing with the U.S. Bankruptcy Court in Delaware on Thursday.

  • PHILADELPHIA, Nov 6- How did a piece of piping installed when Richard Nixon was U.S. president go without once being checked before leading to a fire that devastated the East Coast's largest and oldest oil refinery? The PES refinery is one of nearly 30 in the United States that are more than a century old, while a Reuters review of over 100 operating U.S. refineries...

  • *U.S. close to finalizing parts of trade pact with China. NEW YORK, Oct 25- U.S. stocks rose on Friday after Washington said it was close to finalizing parts of a trade pact with Beijing and strong quarterly results from Intel Corp boosted investor sentiment, sending the S&P 500 briefly over the record high close it set three months ago. President Donald Trump said...

  • *U.S., China' close to finalizing' parts of Phase 1 trade pact. NEW YORK, Oct 25- U.S. Treasury yields rose on Friday after the United States said it was close to finalizing parts of a trade deal with China, suggesting that with global risks easing the Federal Reserve may not have to be aggressive in cutting interest rates this year and next.

  • *U.S close to finalizing parts of trade pact with China. NEW YORK, Oct 25- The S&P 500 rose on Friday, briefly surpassing its record closing high, after Washington said it was close to finalizing parts of a trade pact with Beijing. President Donald Trump also struck a hopeful tone, saying that China wanted "to make a deal very badly."

  • DENVER/ WASHINGTON, Oct 25- The fortunes of Denver chef Alex Seidel are telling. Sales at his upscale eatery Fruition, which features Oysters Rockefeller and a $29 pork chop, are down for the first time since the restaurant opened in 2007, the year the last U.S. recession began. "Fast-casual" restaurants are growing around the United States, and competition for...

  • NEW YORK, Oct 25- U.S. The U.S. economic calendar is thin on Friday so market participants will be focused not only the Fed, but also U.S-China trade negotiations related to increasing purchases of U.S. agricultural products, as well as news on Britain's exit from the European Union. "Realized volatility in the last two weeks has been very compressed and seems to have...

  • TOKYO, Oct 25- Japan's benchmark Nikkei share average inched up to a fresh one-year peak on Friday as some positive earnings from overseas tech companies offset growth concerns, with semiconductor-related stocks leading the gainers. In Tokyo, the Nikkei heavyweight Tokyo Electron and Screen Holdings both climbed 2.6%. "The market is definitely already...

  • DENVER/ WASHINGTON, Oct 25- The fortunes of Denver chef Alex Seidel are telling. Sales at his upscale eatery Fruition, which features Oysters Rockefeller and a $29 pork chop, are down for the first time since the restaurant opened in 2007, the year the last U.S. recession began. "Fast-casual" restaurants are growing around the United States, and competition for...

  • TOKYO, Oct 25- Japan's benchmark Nikkei share average was steady, hovering near its one-year peak on Friday as some positive earnings from overseas tech companies offset growth concerns, with semiconductor-related stocks leading the gainers. Semiconductor-related stocks were the highlight of the morning after Intel beat Wall Street estimates for...

  • Oct 24- Comcast Corp beat Wall Street profit and revenue estimates on Thursday, as the company added high-speed internet customers and lost more video subscribers than expected. "Four things stood out as wrapped up the quarter: our incredible strength in broadband, the enduring popularity of our premium content, our strong global footing just one year after the...