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Top News & Analysis United States

  • *Senate passes budget plan that could pave the way for tax cuts. NEW YORK, Oct 20- U.S. stocks hit record closing highs on Friday and the S&P 500 posted a sixth week of gains after the U.S. Senate passed a budget resolution, lifting hopes that President Donald Trump's tax-cut plan may move forward. "It's just a reaction to the thought that just maybe there might be...

  • Celgene Corp., down $14.63 to $121.33. General Electric Co., up 25 cents to $23.83. Skechers USA Inc., up $9.96 to $33.99.

  • *U.S. Senate passes budget plan that could usher in tax reform. NEW YORK, Oct 20- World stocks advanced, bond yields rose and the U.S. dollar strengthened on Friday on increased hopes 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...

  • WILMINGTON, Del., Oct 20- A U.S. appeals court in New York on Friday ruled in favor of senior creditors who had contested interest rates imposed on them during the bankruptcy of silicone maker Momentive Performance Materials, reversing a decision that had sparked alarm among lenders. The ruling by the 2nd U.S. Circuit Court of Appeals found the U.S. Bankruptcy Court...

  • Oct 20- Wells Fargo& Co is facing fresh regulatory scrutiny in both its consumer and institutional businesses, according to reports in the New York Times and Wall Street Journal on Friday, as the third-largest U.S. bank continues to work through a prolonged scandal over its sales practices. The Office of the Comptroller of the Currency criticized Wells Fargo in a...

  • NEW YORK, Oct 20- Investors awaiting the nomination of the next Federal Reserve chair are hoping whoever is nominated pursues the same monetary policy that has supported rising stock prices for the past nine years. Led by Janet Yellen since 2014, the Fed is about to allow its $4.5 trillion portfolio of securities to shrink, and in late 2015 it began raising...

  • NEW YORK— Three high-level foreign exchange executives and a currency trader have left Wells Fargo, the bank that has been through several investigations after a scandal over millions of fake accounts and another over auto insurance practices. Wells Fargo confirmed Friday that the employees from the investment bank side of the business were no longer with...

  • *U.S. tax cuts clear budget hurdle in Senate. "This is clearly a picture of somewhat of a risk-on rotation today, and its ignited some of the animal spirits as we take another step closer to the potential for tax reform coming to fruition," said Bill Northey, chief investment officer at the Private Client Group at U.S. Bank in Helena, Montana. Senate approval of a budget...

  • *Kirkuk flows to Ceyhan still at around 200,000 bpd. *Russia's Rosneft takes control of Kurdish oil pipeline. NEW YORK, Oct 20- Oil prices were up slightly on Friday in see-saw trade, ending the week up on support from a sharp decline in Iraqi crude exports due to tensions in the Kurdistan region after contending with weak demand data.

  • Jurors will begin deliberating Monday in the case of a Massachusetts pharmacist charged with murder in a meningitis outbreak that killed 76 people. Pharmacist Glenn Chin is charged with second-degree murder under federal racketeering law and other crimes. A federal prosecutor says a Massachusetts pharmacist charged in a meningitis outbreak that killed...

  • DETROIT, Oct 20- Consumer Reports said on Friday that Tesla Inc had apparently misunderstood the "average" reliability rating the magazine assigned to the electric carmaker's Model 3 sedan this week, calling it generally "positive" for an all-new vehicle. Tesla criticized the rating on Thursday, saying "it's important to note that Consumer Reports has not yet...

  • *Senate passes budget plan that could pave the way for tax cuts. Oct 20- U.S. stocks rose on Friday after the Senate passed a budget resolution, lifting hopes that President Donald Trump's tax-cut plan may move forward. There's been extraordinarily low volatility, "said Hank Smith, co-chief investment officer at Haverford Trust in Radnor, Pennsylvania.

  • 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 was up 0.4 percent at $23.65 after new Chief Executive John Flannery said he will focus the...

  • NEW YORK, Oct 20- Bitcoin surged to a record high of more than $6,000 on Friday, pushing its market capitalization to $100 billion at one point, as investors continued to bet on an asset that has a limited supply and has paved the way for a whole slew of crypto-currencies. On Friday, bitcoin hit a record peak $6,000.10 on the BitStamp platform, and was last at $5,964.24,...

  • NEW YORK, Oct 20- Bitcoin surged to a record high of more than $6,000 on Friday, pushing its market capitalization to $100 billion at one point, as investors continued to bet on an asset that has a limited supply and has paved the way for a whole slew of crypto-currencies. On Friday, bitcoin hit a record peak $6,000.10 on the BitStamp platform, and was last at $5,964.24,...

  • The move marks a big win for the biofuels industry and lawmakers from corn-states like Iowa, Nebraska and Illinois, while dealing a blow to merchant refiners like PBF Energy Inc and Valero Energy Corp who hoped the administration of President Donald Trump would help provide regulatory relief. Trump's second-place finish in the Iowa caucuses in early 2016...

  • WASHINGTON— Divided Republicans in Congress are tackling an ambitious overhaul of the nation's tax system that would deeply cut levies for corporations and double the standard deduction used by most average Americans. Despite controlling Congress and the White House, Republicans failed to carry out their years-long promise to dismantle and replace...

  • White House statement: President Donald J. Trump promised rural America that he would protect the Renewable Fuel Standard, and has never wavered from that promise. Republican Senator Chuck Grassley, Iowa: Its a great day for Iowa and a great day for rural America. Republican Senator Joni Ernst, Iowa: These assurances are a clear win for Iowans.

  • *RBR CEO speaking at a conference in New York. ZURICH, Oct 20- Activist investor RBR Capital Advisors wants to expand its stake in Credit Suisse to 1 billion Swiss francs, as the hedge fund pushes to spin off the Swiss lender's investment bank and asset management business. RBR Chief Executive Rudolf Bohli is trying to drum up fresh cash to take a larger position in...

  • Oct 20- Eight former commissioners of the U.S. Federal Energy Regulatory Commission sent a letter to the agency opposing Energy Secretary Rick Perry's proposal to subsidize coal and nuclear power plants because they are not economic in the current low price market. "Our common goal has been to encourage competition in the electricity sector in order to...