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Wires

  • *Gary Cohn resignation rumors knocked down. A White House official later said Cohn intends to remain in his position, but after a short respite, the market continued to sell off and was at session lows in late afternoon trading. With valuation levels considered high, investors may be more prone to sell, said Stephen Massocca, senior vice president, Wedbush...

  • S&P 500 EXTENDS FALL, HITS LOWEST LEVEL IN A MONTH.

  • NEW YORK, Aug 17- BlackRock Inc's largest mutual fund hiked its exposure to "select names" in energy as the sector has lagged this year, one of its portfolio managers said on Thursday. "The underperformance of energy stocks even as oil prices have stabilized creates opportunities for investors," wrote Russ Koesterich, a manager of the $39 billion BlackRock Global...

  • Aug 17- The Wisconsin State Assembly on Thursday opened debate on a $3 billion incentive package for a proposed liquid-crystal display plant by Taiwan's Foxconn, a deal that caused a stir when it was announced by President Donald Trump last month. Foxconn, an electronics manufacturer formally known as Hon Hai Precision Industry Co Ltd, hopes to open a $10...

  • *Rumor on top White House economic adviser unnerves investors. Treasury yields fell on Thursday as investors, unnerved by a deadly attack in Barcelona and speculation about a top White House economic adviser quitting, favored safe, low-yielding bonds over stocks and other risky assets. A White House official said Cohn "intends to remain in his position."

  • NEW YORK— A Lithuanian man has been extradited to the United States to face charges that he duped Google and Facebook into sending him over $100 million. The companies were identified in a Lithuanian court document, which said Google sent over $23 million and Facebook sent nearly $100 million to bank accounts controlled by Rimasauskas. Facebook, of Menlo Park,...

  • *Genscape reports more than 1 mln bbl draw at Cushing- trade. Inventories at Cushing, the delivery hub for U.S. crude futures, declined more than a million barrels in the week to Aug. 15, traders said citing estimates from energy industry information provider Genscape. In the latest week to Aug. 11 for which government data was available, Cushing inventories...

  • SEC OFFICIALS' HOLDINGS, LEGAL WORK, COULD POSE POTENTIAL CONFLICTS OF INTEREST.

  • Steven Peikin, the new co-head of enforcement at the SEC, held as much as $9 million worth of stock in dozens of blue-chip companies as of Aug. 8, according to a disclosure filing obtained through a public records request. Should those companies come before the SEC, potential conflicts of interest could arise. Having such conflicts is not unusual for senior SEC...

  • BOSTON/ NEW YORK, Aug 17- Billionaire activist investor William Ackman on Thursday said Automatic Data Processing Inc's stock price could double in the next five years if the human resources outsourcing company cuts costs, streamlines its business and invests in technology upgrades. Ackman's hedge fund Pershing Square Capital Management owns 8.3 percent...

  • *Rumor on top White House economic adviser unnerve investors. Treasury yields fell on Thursday as investors, unnerved by a deadly attack in Barcelona and speculation about a top White House economic adviser quitting, favored safe, low-yielding bonds over stocks and other risky assets. A White House official said Cohn "intends to remain in his position."

  • BOSTON, Aug 17- Mylan NV has finalized a $465 million settlement with the U.S. Justice Department, resolving claims it overcharged the government for its EpiPen emergency allergy treatment, which became the center of a firestorm over price increases. The U.S. Attorney's Office in Massachusetts revealed the accord on Thursday, 10 months after Mylan said it...

  • CHICAGO, Aug 17- Chicago Board of Trade wheat futures fell about 1 percent to life-of-contract lows on Thursday, weighed down by investment fund short selling and abundant global supplies, traders said. CBOT September wheat futures notched a contract low of $4.12-1/ 4 per bushel, before slightly paring losses to $4.14-1/ 4, down 5 cents, at 12:54 p.m. CDT.

  • SCRANTON, Pa.— A Pennsylvania eatery that was sued by a New York City steakhouse for trademark infringement has agreed to change its name. Owner Robert Dickert will change the name of Scranton's Carl von Luger Steak& Seafood to Carl's Prime. The Wilkes-Barre Citizens' Voice reports the change is the key point in settling the suit filed by Peter Luger Inc., the owner...

  • MEXICO CITY, Aug 17- A tanker carrying a cargo of about 1 million barrels of Venezuelan heavy crude has been stranded for more than a month off the coast of Louisiana for lack of a bank letter of credit to discharge, three sources have told Reuters. Major banks are cutting exposure to Venezuela as a result of political upheaval in the South American country.

  • EpiPen maker Mylan has finalized a $465 million federal agreement settling allegations it overbilled Medicaid for its emergency allergy injectors for a decade— charges brought after rival Sanofi filed a whistleblower lawsuit and tipped off the government. The settlement resolves claims against Mylan from the Justice Department and Sanofi, which made a...

  • DAMASCUS, Aug 17- Syria has more than six months' worth of strategic wheat reserves, Internal Trade and Consumer Protection Minister Abdullah al-Gharbi said on Thursday. While President Bashar al-Assad has scored vital military gains against rebels seeking to oust him in a six-year-old civil war he is under pressure to ensure supplies of strategic...

  • Average long-term U.S. mortgage rates edged lower this week.

  • NEW YORK, Aug 17- U.S. House Democrats said on Thursday they were launching an investigation into why prices for Multiple Sclerosis treatments have nearly quadrupled since 2004, and they sent letters requesting information from seven drugmakers. Representatives Elijah Cummings and Peter Welch sent the letters to Bayer AG, Biogen Inc, EMD Serono, Novartis AG,...

  • BOSTON, Aug 17- Mylan NV has finalized a $465 million settlement with the U.S. Justice Department, resolving claims it overcharged the government for its EpiPen emergency allergy treatment, which became the center of a firestorm over price increases. The U.S. Attorney's Office in Massachusetts revealed the accord on Thursday, 10 months after Mylan said it...