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Wires

  • NEW YORK, Feb 21- The U.S. Treasury Department sold $15 billion of two-year floating rate notes on Wednesday, part of a bumper week of sales as the government ramps up issuance to help fund President Donald Trump's major tax overhaul and a two-year budget deal. The 2.75 bid-to-cover ratio was the lowest on record since the issue was introduced in January 2014,...

  • FRANKFURT, Feb 21- Neo-Nazis are attempting to infiltrate one of Germany's biggest car makers, Daimler, to turn a key factory into a showcase for their views, the plant's works council said on Wednesday. "The right-wing activities and the entanglements in neo-Nazi actions and organizations and the related public coverage are causing substantial damage to...

  • ATLANTIC CITY, N.J.— A new casino is making a massive effort to engage Atlantic City's large minority community in which it will operate, where black residents have long felt excluded from the riches that the gambling halls generate. Hard Rock plans to do more than just hire local residents to work at its casino when it opens this summer. Hard Rock CEO Jim Allen aims...

  • LONDON, Feb 21- Copper steadied on Wednesday after hitting a one-week low earlier in the session as investors moved into the safety of the dollar before the release of the minutes from the U.S. "There are still good indications that inflation might edge up and force the Fed to hike more than three times," said Peter Fertig, a consultant at Quantitative Commodity...

  • "I believe the Federal Reserve should be gradually and patiently raising the federal funds rate during 2018," Dallas Federal Reserve Bank President Robert Kaplan said in an essay released on Wednesday that updated his views on the economic and policy outlook. At the time, Wall Street was not fully convinced of the need for such a pace. His more dovish colleague,...

  • LONDON, Feb 21- European shares closed in positive territory on Wednesday, recouping earlier losses as Wall Street opened higher and upbeat earnings published by Lloyds and Glencore gave a boost to financial stocks and miners. Europe's pan-European STOXX 600 index closed up 0.16 percent at 381.1 points but some bourses on the continent ended the day slightly...

  • NEW YORK, Feb 21- The U.S. supermarket chain Tops Markets LLC filed for bankruptcy on Wednesday, saying an unsustainable debt load, falling food prices and stiff competition from Amazon.com Inc and other low-cost rivals forced it to reorganize. Tops said it expects the 169 stores it operates in upstate New York, Pennsylvania and Vermont to remain open while it...

  • Dish had 14 million subscribers in January 2015 before it launched the initiative, which started $20 per-month Sling TV subscriptions with a slim bundle of channels to target younger consumers avoiding pricey cable and satellite subscriptions. Jefferies analyst Scott Goldman said Dish's average revenue per user of $84.63 was below his estimate of $85.71...

  • WASHINGTON, Feb 21- The U.S. Treasury Department has recommended preserving powers created after the 2007-2009 financial crisis that allow regulators to step in and wind down a failing bank, in a win for big banks and overseas regulators who had lobbied for the United States to keep it. In a closely watched report published on Wednesday, the administration of...

  • SAN FRANCISCO— Google's voice-activated assistant is branching out to Nest's deluxe security camera in an expansion that may amplify the privacy concerns surrounding internet-connected microphones. The move comes just two weeks after Nest moved back under Google's direct control after spending nearly 2 1/ 2 years as a separate company owned by the same...

  • WASHINGTON, Feb 21- The White House on Wednesday praised an experimental program in Oregon that charges a mileage tax to volunteer drivers, adding to signals that President Donald Trump is open to finding new revenue sources to pay for his proposed infrastructure program. In the annual Economic Report of the President, the White House described Oregon as a "...

  • WASHINGTON— The White House top economist says the U.S. could achieve annual growth rates of 3 percent through the next decade if President Donald Trump's policies on regulations and infrastructure are enacted. Kevin Hassett of the Council of Economic Advisers released the annual economic report. It praises the effects of the tax cuts and tax overhaul signed...

  • *Latvia battered by series of corruption allegations. RIGA, Feb 21- Latvia's commercial banking association called on the European Central Bank on Wednesday to step in and sort out a crisis at lender ABLV Bank, which has asked for emergency funding after being accused by the U.S. Latvia joined the European Union in 2004 and the ECB has been responsible for...

  • *U.S. dollar hits one-week high. NEW YORK, Feb 21- The dollar hit its highest level in a week on Wednesday and stocks rose as investors waited to see if minutes from the Federal Reserve's last policy meeting would herald more rises in interest rates and global bond yields. Investor attention was focused on minutes of the Fed's policy meeting in late January, due at...

  • Novo Nordisk, the world's biggest insulin maker, launched Ozempic, known generically as semaglutide, in the United States this year after it was approved by the U.S. Food and Drug Administration in December. The drug has now been included on a 2018 formulary list of acceptable medicines drawn up by Express Script, one of the biggest pharmacy benefit managers in...

  • PITTSBURGH— A western Pennsylvania plumber who pleaded guilty to violating federal workplace regulations before a trench collapse that killed a man has been placed on probation for two years. The Pittsburgh Post-Gazette reports that 67- year-old Wayne George apologized in court Wednesday, saying "I've said from the beginning, if I could trade places with...

  • LONDON, Feb 21- German bond yields hit two-week lows on Wednesday as weaker-than-expected business activity data from the euro area eased concern that ultra-easy monetary policy in the bloc could end sooner rather than later. Long-term borrowing costs across the single-currency bloc were down across the board after preliminary purchasing managers index...

  • *Broadcom cuts Qualcomm bid to $117 bln. "Right now Fed fund futures are pricing in three rate hikes with just under a 50-50 short of a fourth," said Matt Miskin, market strategist at John Hancock Investments. Broadcom Corp lowered its takeover offer for chipmaker Qualcomm to account for the latter's increased offer for NXP Semiconductors NV.

  • Feb 21- Broadcom Ltd cut its bid for Qualcomm Inc on Wednesday by 4 percent to $117 billion, after the latter raised the stakes in the chipmaker takeover battle with a sweetened $44 billion agreement to acquire NXP Semiconductors NV. Qualcomm shares were trading down 1.2 percent at $63.24 in morning trading in New York on Wednesday, while Broadcom shares were...

  • Feb 21- Oil and gas producer EQT Corp said on Wednesday it would spin off its midstream business to create a standalone publicly traded company, yielding to months of pressure from shareholders. Hedge funds D.E. Shaw& Co and Jana Partners had pushed for a break-up of the company ever since it bought Rice Energy for $6.7 billion last year, saying a separation of its...