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Wires

  • WASHINGTON, Feb 23- The National Rifle Association on Friday honored the head of the Federal Communications Commission with a rifle after braving death threats and other opposition as he worked to undo the Obama administration's 2015 net neutrality rules. FCC Chairman Ajit Pai was honored at the Conservative Political Action Conference in Oxon Hills,...

  • NEW YORK, Feb 23- General Electric Co faces potential legal action by the U.S. Department of Justice over allegations that its GE Capital unit and now-defunct WMC Mortgage Corp unit violated U.S. law in connection with subprime mortgages, according to a regulatory filing on Friday. "WMC and GE Capital will explore whether an acceptable settlement of this matter...

  • SAO PAULO, Feb 23- A group of shareholders of Brazil's food processing company BRF SA will seek to oust the entire board of the company, according to local media reports, following the firm's worst annual results ever. Newspapers Valor Econômico and O Globo reported late on Friday in their online editions that a group led by Brazilian pension funds Previ and...

  • CHICAGO— Warren Buffett is stepping down from the board of directors of Kraft Heinz Co.. Kraft Heinz said its board will nominate Alexandre Van Damme to take Buffett's seat. Van Damme is also a board member of Anheuser-Busch Inbev and Restaurant Brands International.

  • Federal Reserve Today in Washington. 26- Feb Italy Bills auction 27- Feb Japan Auction of 2- year government bonds 27- Feb Italy Medium-long term auction 27- Feb Belgium Auction of Treasury bills 28- Feb Germany Auction of 10- year Federal bonds 28- Feb Sweden Auction of Treasury bills. 1- Mar Spain Bond auction 1- Mar United Kingdom Auction of 0 3/ 4% Treasury...

  • Dropbox is hoping to raise $500 million in an IPO that comes 11 years after it started in San Francisco. That includes a loss of $112 million on revenue of $1.1 billion last year. A smaller competitor, Box Inc., went public at $14 per share two years ago and the stock shot to $23.23 in its first day of trading.

  • BUDAPEST- Hungarian Central Bank rate-setting meeting- 1300 GMT. SAO PAULO- Federal Reserve Bank of New York President William Dudley speaks on trade and globalization before an event organized by the Central Bank of Brazil- 1600 GMT. PRAGUE- European Central Bank Executive Board member Yves Mersch speaks at the KPMG Finance Forum 2018- 0800 GMT.

  • WASHINGTON- Federal Reserve Bank of St. Louis President James Bullard gives presentation on the U.S. economy and monetary policy before the National Association for Business Economics conference, "Promoting Sustained Growth: Policy Tensions and Risks"- 1300 GMT. WASHINGTON- Federal Reserve Vice Chair for Supervision Randal Quarles speaks on "A View From the...

  • WASHINGTON- Federal Reserve Bank of St. Louis President James Bullard gives presentation on the U.S. economy and monetary policy before the National Association for Business Economics conference, "Promoting Sustained Growth: Policy Tensions and Risks"- 1300 GMT. WASHINGTON- Federal Reserve Vice Chair for Supervision Randal Quarles speaks on "A View From the...

  • BILLINGS, Mont.— The Latest on a proposal to reorganize the Department of Interior and speed up permitting by the agency:. House Natural Resources Committee ranking Democrat Raul Grijalva of Arizona says Zinke's latest proposal would let "Big Oil" decide the department's future. Zinke told The Associated Press on Friday that his goal remains unchanged:...

  • NEW YORK— U.S. companies that have partnered with the National Rifle Association to offer discounts and benefits to its members have begun to distance themselves from the gun lobbying group after the latest school shooting. First National Bank of Omaha— The bank announced that it would not renew a co-branded Visa credit-card with the NRA.

  • NEW YORK, Feb 23- A California stock promoter was sentenced on Friday to two years and three months in prison for his role in what U.S. prosecutors say was a nearly $100 million penny stock pump-and-dump scheme. District Judge Eric Vitaliano in Brooklyn, federal prosecutors announced. The case followed one of the largest global penny stock probes ever by the...

  • NEW YORK, Feb 23- General Electric Co faces potential action by the U.S. Justice Department over allegations that its GE Capital unit and now defunct WMC Mortgage Corp unit violated U.S. law in connection with subprime mortgages, according to a regulatory filing on Friday. "WMC and GE Capital will explore whether an acceptable settlement of this matter can be...

  • WASHINGTON, Feb 23- Senior U.S. officials will discuss trade disputes next week with a top Chinese economic official when he visits Washington, a senior U.S. official said on Friday as President Donald Trump considers new tariffs on steel imports. Trump has long sought a way to a more balanced trade relationship with China. The Commerce Department on Feb. 16...

  • NEW YORK/ LOS ANGELES, Feb 23- Federal Reserve policymakers are fretting that they could face the next U.S. recession with an arsenal of policies little different from that used in the last downturn but robbed of much of their punch because interest rates are still low. "The thing that keeps me up at night is that when that next recession happens, and hopefully not for...

  • HOUSTON, Feb 23- Senior executives are leaving Swiss commodities trader AOT Energy amid a shrinking credit line and losses in some trading operations, sources familiar with the matter said on Friday. The upheaval comes after the company, controlled by FrEere Group, a Belgian holding company owned by billionaire Albert FrEere and his family, backed a buyout in...

  • Heinz Co, backed by Buffett's Berkshire Hathaway Inc and Brazil's private equity firm 3 G Capital, acquired Kraft Foods Group in 2015 to create one of the biggest food and beverage companies in the world. Berkshire Hathaway is Kraft Heinz's biggest shareholder with 26.7 percent stake as of Dec. 31, according to Thomson Reuters data. Kraft said it plans to nominate...

  • Feb 23- Magic Leap, a well-funded and secretive startup, is in talks for a $400 million investment from Saudi Arabia's Public Investment Fund, the Financial Times reported on Friday. The Florida- based startup raised $502 million in October in a capital funding round led by Singapore government-owned investment firm Temasek Holdings. Magic Leap and the Public...

  • LAHAINA, Hawaii _ Maui Land& Pineapple Co. on Friday reported a fourth-quarter loss of $929,000, after reporting a profit in the same period a year earlier. The Lahaina, Hawaii- based company said it had a loss of 5 cents per share. Maui Land& Pineapple shares have decreased 32 percent since the beginning of the year.

  • NEW YORK, Feb 23- The fallout over this week's shooting rampage at a Florida high school started to take its toll on National Rifle Association's roster of corporate partners on Friday as a half dozen companies severed marketing ties with the gun advocacy organzation. Moms Demand Action for Gun Sense in America, founded after 20 first-graders were shot and...