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Wires

  • 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 closed up 1 percent at $23.83 after CEO John Flannery said he will focus the company on...

  • KENNER, La.— Authorities have found the body of a man who was killed during an explosion on an oil and gas platform in Louisiana's Lake Pontchartrain. Jefferson Parish Sheriff Joe Lopinto said a helicopter spotted the body of 44- year-old Timothy Morrison on Friday afternoon. Morrison, of Katy, Texas, was a contract worker on the platform when the explosion...

  • OTTAWA, Oct 20- Canadian Prime Minister Justin Trudeau's government has been badly shaken by a conflict-of-interest controversy about his finance minister, but the Liberal government's upcoming fiscal update offers an opportunity to reset the public focus on Canada's strong economy, political observers say. The government has been plagued all week about...

  • CHICAGO, Oct 20- Monsanto Co sued Arkansas agricultural officials on Friday to stop proposed restrictions on the use of a weed killer linked to widespread U.S. crop damage, setting up a legal battle between the agrichemical company and a major farm state. Last month, the Arkansas plant board advanced a proposal putting the state just one step away from banning...

  • up to 50,000 high-paying jobs and $5 billion- plus worth of investment. --New Jersey is offering a potential $7 billion in local and state tax credits if the company picks Newark and meets hiring commitments.-- Chicago assembled a committee of political and business leaders to work on its pitch and on Friday released several potential sites including a massive, but...

  • MENLO PARK, Calif.— Google's parent Alphabet Inc. says its stratospheric balloons are now delivering the internet to remote areas of Puerto Rico where cellphone towers were knocked out by Hurricane Maria. Several more balloons are on their way from Nevada, and Google has been authorized by the Federal Communications Commission to send up to 30 balloons to...

  • NEW YORK, Oct 20- It has been a rough 16 years for General Electric Co and its shareholders. When recently retired Chief Executive Jeff Immelt took over at the helm of GE in September 2001, the conglomerate was the most valuable U.S. publicly traded company, giving it outsized influence on the stock market. Immelt's successor John Flannery derided the results as "...

  • Oct 20- Alphabet Inc said on Friday it is collaborating with AT&T Inc to deliver limited internet connectivity to the hardest-hit areas of Puerto Rico through its "Project Loon" balloon project. Alphabet said some AT&T customers in Puerto Rico with LTE enabled phones will now be able to access limited internet connectivity- enough to send text messages and...

  • HOUSTON— The number of rigs exploring for oil and natural gas in the U.S. declined by 15 this week to 913.. Among major oil- and gas-producing states, Texas lost eight rigs, Alaska and Wyoming each declined by two and New Mexico and Utah each lost one. Arkansas, California, Colorado, Kansas, Louisiana, North Dakota, Ohio, Oklahoma, Pennsylvania and West Virginia were...

  • *Tax plan clears hurdle in Senate. Trump's drive to overhaul the U.S. tax code cleared a critical hurdle on Thursday when the Senate approved a budget measure that will allow Republicans to pursue a tax-cut package without Democratic party support. But Republicans, who control both the Senate and House of Representatives, have yet to produce a tax reform bill as a...

  • Storch has been the CEO of Toronto- based Hudson's Bay, which also operates the department store chain under its namesake, since January 2015. Hudson's Bay says it has retained an executive search firm to recruit a new CEO. The news comes after reportedly unsuccessful efforts this year to merge Hudson's Bay with department store operators Macy's Inc. and Neiman...

  • Oct 20- Tesla Inc said on Friday it has increased its borrowing capacity, related to an agreement, to $1.1 billion as the electric car maker spends heavily to fix production bottlenecks of its new Model 3 sedan. The company has increased the borrowing capacity to $1.1 billion from $600 million, under certain warehouse agreements, the company said in a filing.

  • SAN FRANCISCO, Oct 20- Social media company Snap Inc said on Friday it had laid off 18 people in its recruiting division, an unusual move for a young company with ambitious growth plans and a likely reflection of tough competition from Facebook Inc.. Venice, California- based Snap, the parent company of messaging app Snapchat, declined to comment beyond its...

  • Nasdaq-listed shares of the French drug developer plunged 60.5 percent to $19 in extended trading. Plans to submit a marketing application for the patch to the U.S. Food and Drug Administration next year remain unchanged, the company said. Leerink analyst Dae Gon Ha estimated DBV's peak sales, including the peanut and milk allergy patches, of about 1.8 billion...

  • Stocks closed higher Friday, extending a record-setting drive for major indexes. The Senate's passage of a budget bill raised traders' expectations of an easier path for the White House's tax cut proposal. The Russell 2000 index of smaller-company stocks picked up 7.20 points, or 0.5 percent, to 1,509.25.

  • WASHINGTON, Oct 20- President Donald Trump's tax reform plans won partial support on Friday when Republican U.S. Trump's drive to overhaul the U.S. tax code cleared a critical hurdle on Thursday when the Senate approved a budget measure that will allow Republicans to pursue a tax-cut package without Democratic support. But Republicans, who control both the...

  • U.S. 3- YEAR TREASURY YIELD ENDS WEEK NEAR HIGHEST LEVEL SINCE APRIL 2010- REUTERS DATA.

  • U.S. 5- YEAR TREASURY YIELD ENDS WEEK NEAR HIGHEST LEVEL IN SEVEN MONTHS- REUTERS DATA.

  • SAN FRANCISCO— A federal appeals court has revived a lawsuit that accuses Kimberly-Clark of falsely advertising that four of its cleansing wipes were flushable. A three-judge panel of the 9th U.S. Circuit Court of Appeals said Friday the lawsuit provided adequate support for the allegation that Kimberly-Clark's wipes were not safe to dispose in the toilet.

  • WASHINGTON, Oct 20- President Donald Trump is considering nominating Federal Reserve Governor Jerome Powell and Stanford University economist John Taylor for the central bank's top two jobs, in an apparent bid to reassure markets and appease conservatives hungry for change. Under that scenario, either Powell or Taylor would take the reins from Fed Chair...