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Wires

  • Jan 16- CSX Corp reported a bigger-than-expected drop in fourth-quarter revenue on Tuesday as the third-largest U.S. railroad lost some business due to service issues caused by former chief executive Hunter Harrison's turnaround plan. Investors have been searching for clarity on how new CEO Jim Foote will handle the turnaround plan that also includes deep...

  • DETROIT— The North American International Auto Show in Detroit opened to the press this week with one big question hanging in the air: How will autonomous vehicles change the industry? The answer is still unclear. General Motors spent heavily to update its top-selling Chevrolet Silverado pickup, cutting up to 450 pounds of weight by using more aluminum and...

  • House GOP leaders are looking to delay implementation of unpopular taxes on medical devices and generous employer-subsidized health care taxes as sweeteners for a stopgap spending bill that's needed to avert a government shutdown this weekend. That's according to GOP aides briefed on the measure before its planned introduction Tuesday night.

  • DETROIT, Jan 16- Automakers and lawmakers expressed hope on Tuesday that U.S. Congress would soon pass a stalled bill aimed at speeding self-driving cars to market, even as safety advocates argued for more performance requirements. A Senate committee approved similar legislation in October, but did not act before the end of 2017 after some Democrats raised...

  • DETROIT, Jan 16- Japanese carmaker Nissan Motor Co. plans to transform its upscale Infiniti brand of vehicles into a primarily electrified offering, Chief Executive Hiroto Saikawa said on Tuesday. All new Infiniti models launched from 2021 will be either electric or so-called "e-Power" hybrids, Saikawa told the Automotive News World Congress in Detroit.

  • DETROIT— Ford Motor Co. says its pretax earnings will likely fall in 2018 as U.S. sales soften, commodity costs increase and it invests heavily in new electric and hybrid vehicles. Ford expects to earn between $1.45 and $1.70 per share this year. That would be down from 2017' s preliminary adjusted earnings of $1.78 a share.

  • Jan 16- A group of 21 U.S. state attorneys general filed suit to challenge the Federal Communications Commission's decision to do away with net neutrality on Tuesday while Democrats said they needed just one more vote in the Senate to repeal the FCC ruling. Even if Democrats could win a majority in the Senate, a repeal would also require winning a vote in the House...

  • WASHINGTON— Interest rates on short-term Treasury bills were mixed in Tuesday's auction with rates on three-month bills unchanged while rates on six-month bills rose to their highest levels in more than nine years. The Treasury Department auctioned $48 billion in three-month bills at a discount rate of 1.430 percent, unchanged from last week.

  • PURCHASE, N.Y. _ MVC Capital Inc. on Tuesday reported a fiscal fourth-quarter loss of $4 million, after reporting a profit in the same period a year earlier. The Purchase, New York- based company said it had a loss of 17 cents per share. MVC Capital shares have risen almost 2 percent since the beginning of the year.

  • Jan 16- Ford Motor Co shares fell in after-hours trading on Tuesday after the Dearborn, Michigan, automaker reported 2017 preliminary adjusted earnings that missed market estimates, and issued a 2018 earnings forecast that fell short of analysts' expectations. Ford blamed exchange rates and rising prices for the commodities used in its vehicles for the...

  • BUENOS AIRES, Jan 16- Argentina's central bank cut interest rates to 27.24 percent from 28.75 percent on its short-term securities on Tuesday in its monthly auction, a move that was in line with market expectations after a recent change in inflation goals.

  • SYDNEY, Jan 17- Bitcoin had lost a quarter of its value in early Asian trading on Wednesday as fears grew of a regulatory crackdown after reports that South Korea's finance minister said banning trading in cryptocurrencies was still an option.

  • GENEVA, Jan 16- Australia has complained at the World Trade Organization about Canada's rules on wine sales, expanding a similar U.S. complaint against one Canadian region. The dispute is the first brought by Australia against Canada in the history of the WTO, and follows a rise in trade tension between Canada and the United States. The North American neighbors...

  • NASHVILLE, Tenn. _ Pinnacle Financial Partners Inc. on Tuesday reported fourth-quarter net income of $26.8 million. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 97 cents per share. Four analysts surveyed by Zacks expected $223.1 million.

  • *GE Capital to make statutory reserve contributions of $15 bln. NEW YORK, Jan 16- General Electric Co indicated it is looking closely at breaking itself up on Tuesday as the conglomerate announced more than $11 billion in charges from its long-term care insurance portfolio and new U.S. tax laws. Flannery already is eliminating thousands of jobs and cutting $3.5...

  • FORD TELLS INVESTORS IT WILL' RATIONALIZE CAR LINEUP,' AS IT INVESTS IN NEW SUVS AND ELECTRIC VEHICLES.

  • For full-year 2017, the company said its adjusted earnings would be $1.78 per share, below analysts estimate of $1.83, according to Thomson Reuters I/B/E/S. For 2018, Ford expects adjusted earnings of $1.45 to $1.70 per share. Analysts on average expected earnings of $1.62.

  • FORD WILL NOW REPORT' MOBILITY' RESULTS SEPARATELY, FORECASTS 2017 MOBILITY BUSINESS LOSS OF $300 MLN.

  • DETROIT, Jan 16- Japanese carmkaker Nissan Motor Co. plans to transform its upscale Infiniti brand into a primarily electrified vehicle offering, Chief Executive Hiroto Saikawa said on Tuesday. All new Infiniti models launched in or after 2021 will be either electric or so-called "e-Power" hybrids, Saikawa told the Automotive News World Congress in Detroit.

  • WASHINGTON— The Justice Department on Tuesday threw its support behind the Archdiocese of Washington in a court fight to have its Christmas fundraising ads displayed on D.C. buses. "As the Supreme Court has made clear, the First Amendment prohibits the government from discriminating against religious viewpoints," Associate Attorney General Rachel Brand...