×

Wires

  • BOSTON, Aug 16- A former Eaton Vance Corp portfolio manager was sentenced to 1-1/ 2 years in prison on Wednesday for engaging in a fraudulent options trading scheme that prosecutors said had netted him more than $1.5 million in profits. District Judge Indira Talwani in Boston after pleading guilty in May to one count of securities fraud. Amell, who must also pay...

  • Aug 16- Novo Nordisk A/S said on Wednesday its diabetes drug met the main goal of reducing glucose levels in patients in a key late-stage trial, setting the stage for it to become the new standard therapy for type 2 diabetes. The 40- week trial tested two dosages of Novo's once-weekly drug, semaglutide, in addition to initial standard-of-care therapy metformin,...

  • The layoffs, which represent about 8 percent of its management force, will largely hit employees in Omaha, Nebraska, where the company is based, but will also affect locations across its network, the company said. "Union Pacific for some time has leveraged employee attrition and technology to reduce general and administrative costs," Chief Executive Officer...

  • NEW YORK— The editorial page editor of The New York Times has been grilled in federal court by a lawyer for Sarah Palin, who's suing over an editorial that linked right-wing political rhetoric to the 2011 shooting of former U.S. The newspaper published the editorial in June after a gunman opened fire on Republican lawmakers in Virginia, wounding U.S.

  • Aug 16- Cisco Systems Inc's quarterly revenue in its closely-watched security business missed analysts' estimates, raising concerns about the world's largest networking gear maker's efforts to transform into a software-focused company. Chief Executive Chuck Robbins, the architect of Cisco's transformation plan, said he had "zero concerns" about the...

  • LIMA, Aug 16- Peru declared a 30- day state of emergency in a remote Andean region to end a protest by residents who have blocked a road used by miner MMG Ltd to move its copper concentrate to port for shipping, the government said on Wednesday. Residents in the area have refused to allow trucks from the Las Bambas mine transit a local road unless MMG or the government...

  • NANJING, China _ Tuniu Corp. on Wednesday reported a loss of $39.9 million in its second quarter. For the current quarter ending in October, Tuniu said it expects revenue in the range of $112.3 million to $116.2 million. Tuniu shares have dropped 11 percent since the beginning of the year.

  • WASHINGTON, Aug 16- The Trump administration will make cost-sharing payments to insurance companies under Obamacare for August, a White House spokesman said on Wednesday, but the announcement did little to quell long-term concerns about the insurance market. The Centers for Medicare and Medicaid Services also said on Wednesday that two counties were...

  • A parade of prominent Republicans and U.S. ally Britain also rebuked Trump after his comments on Tuesday about the bloodshed in the college town of Charlottesville further enveloped his seven-month-old presidency in controversy, paralyzed his policy aims and left him increasingly isolated. Trump announced the dissolution of the American Manufacturing...

  • Aug 16- General Motors Co's Maven car sharing and rental unit is expanding its partnerships in ride and delivery services as parent GM considers whether to enter the on-demand mobility business now dominated by Uber Technologies and Lyft Inc.. Through Gig, Maven can provide GM vehicles directly to ride-sharing drivers who previously leased them through...

  • Aug 16- Novo Nordisk A/S said on Wednesday its diabetes drug met the main goal of reducing glucose levels in patients in a key late-stage trial, setting the stage for it to become the new standard therapy for type 2 diabetes. The 40- week trial tested two dosages of Novo's once-weekly drug, semaglutide, in addition to initial standard-of-care therapy metformin,...

  • NEW YORK, Aug 16- U.S. authorities on Wednesday announced insider trading charges accusing seven people of generating more than $5 million of profit based on tips from a Bank of America Corp employee about dozens of pending corporate transactions. Daniel Rivas, who was the alleged tipper and later worked at Royal Bank of Canada, and James Moodhe, the father of...

  • NEW YORK, Aug 16- Investors flooded U.S.-based taxable-bond funds with $7.9 billion during the latest week, Investment Company Institute data showed on Wednesday, a 36th straight week of inflows that shows investors further stepping back from domestic stocks. Matt Schreiber, president at WBI Investments Inc, said wage growth has been soft, state-level...

  • MEXICO CITY, Aug 16- The Mexican Supreme Court on Wednesday found unanimously that billionaire Carlos Slim's telecommunications company America Movil should not be barred by law from charging its rivals interconnection fees, a setback to a sweeping reform intended to curb the firm's dominance. The 2014 telecom industry reform, one of Mexican President...

  • NEW YORK, Aug 16- Swiss digital currency exchange ShapeShift AG said on Wednesday it has acquired Seattle- based KeepKey Holder LLC, a maker of devices known as digital wallets, in an all-bitcoin deal. KeepKey's wallet, which sells for about $100, stores digital currencies. ShapeShift's chief executive officer, Erik Voorhees, said in an interview the acquisition...

  • WAUWATOSA, Wis. _ Briggs& Stratton Corp. on Wednesday reported fiscal fourth-quarter profit of $19.7 million. Briggs& Stratton expects full-year earnings to be $1.31 to $1.48 per share, with revenue in the range of $1.87 billion to $1.92 billion. Briggs& Stratton shares have climbed 8 percent since the beginning of the year.

  • Aug 16- The U.S. central bank is roughly at the mid-point on its current path to normalize interest rates as the economy has shown further improvement even without fiscal stimulus, San Francisco Federal Reserve President John Williams told CNN television. The Fed has raised key overnight borrowing costs four times since December 2015, while unemployment...

  • WASHINGTON, Aug 16- The United States drew a hard line for renegotiating the North American Free Trade Agreement on Wednesday, demanding major concessions aimed at slashing U.S. trade deficits with Mexico and Canada and boosting U.S. content for autos. Lighthizer put Mexico and Canada on notice that the United States would use its clout as their biggest export...

  • TORONTO, Aug 16- Canada's main stock index reversed course to end lower on Wednesday as a drop in oil prices weighed on energy shares, offsetting gains for the materials group as base and precious metal prices climbed. Losses for the Toronto Stock Exchange's S&P/TSX composite index, which had spent much of the day in positive territory, came as the United States...

  • BRASILIA, Aug 16- Brazilian prosecutors intend to open a formal investigation into last year's controversial sale of the Argentine subsidiary of Petrobras, Brazil's state-controlled oil company, a lawyer representing some Petrobras shareholders said on Wednesday. Petrobras, formally known as Petroleo Brasileiro SA, sold its 67.2 percent stake in...