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  • WASHINGTON, Aug 17- A company owned by Elon Musk that is trying to lower the cost of building high-speed transit tunnels has asked the Trump administration to exempt it from tariffs for some Chinese-made tunnel boring machine components, warning the tariffs could significantly delay a planned tunnel between New York and Washington. The company said for...

  • NEW YORK, Aug 17- U.S. stocks closed higher on Friday, with the S&P 500 and the Dow Jones Industrial Average extending gains and the Nasdaq turning positive on reports of progress in trade disputes between the United States and its trading partners China and Mexico.

  • NEW YORK, Aug 17- The dollar fell against a basket of peers on Friday, retreating from a 13- month high hit earlier this week, on lower demand for the safe-haven greenback and some profit-taking, as worries about trade tensions between Washington and Beijing eased. Next week's lower-level trade talks between China and the United States offer some hope of easing...

  • Aug 17- Tesla Inc's shares slumped 9 percent on Friday after Chief Executive Officer Elon Musk told the New York Times he was under major emotional stress and was preparing for "extreme torture" from short sellers. Tesla stock was on track for its biggest daily slump in two years as Wall Street questioned Musk's ability to lead the electric car maker.

  • "One of the biggest concerns out there is that China's demand numbers are coming down if China's GDP growth is slowing," said Tariq Zahir, managing member at Tyche Capital in New York. Brent crude oil futures settled up 40 cents, or 0.6 percent, at $71.83 a barrel, after touching a high of $72.49 earlier in the session. West Texas Intermediate crude futures rose 45 cents,...

  • PHOENIX— The sales and marketing director of Backpage.com pleaded guilty to conspiring to facilitate prostitution in a scheme to give free ads to prostitutes in a bid to draw them away from competitors. The plea Friday by Dan Hyer marked the second Backpage.com employee to plead guilty in cases in Arizona in which the site is accused of ignoring warnings to...

  • NEW YORK/ WASHINGTON, Aug 17- U.S. President Donald Trump asked securities regulators to explore replacing quarterly reporting requirements with half-yearly filings at the urging of executives including PepsiCo Chief Executive Indra Nooyi, reigniting a debate about how often companies should give financial updates to investors. Such a switch would mark a...

  • WASHINGTON, Aug 17- The top U.S. securities regulator on Friday said it had voted to simplify and update requirements for disclosing information that it considers redundant or outdated, with the aim of reducing compliance burdens for companies.

  • BOSTON, Aug 17- Activist hedge fund ValueAct Capital Management boosted investments in financial stocks by more than $800 million during the second quarter, citing attractive risk-adjusted values of big banks, according to a client letter viewed by Reuters. The top 35 U.S. banks alone have added about $800 billion in common equity capital since the start of...

  • *U.S. warns of more sanctions on Turkey. NEW YORK, Aug 17- U.S. A Chinese delegation led by Vice Minister of Commerce Wang Shouwen will meet U.S. representatives, China's Ministry of Commerce said on Thursday.

  • NEW YORK, Aug 17- A co-owner of the Come By Chance oil refinery in Canada is suing his partner for about $5.8 million in a New York state court over allegations of unpaid dividends and misused investments, according to court papers filed on Friday. Neal Shear, who bought the struggling 130,000 barrel-per-day Come By Chance refinery in Newfoundland in 2014,...

  • Argentina's economy has taken a beating in 2018 after the run on the peso currency prompted the government to secure a $50 billion credit line from the International Monetary Fund. Poverty in Argentina decreased last year to 25.7 percent from 30.3 percent in 2016, according to Argentina's official statistics agency, Indec. The Argentine Observatory of...

  • WASHINGTON, Aug 17- The Securities and Exchange Commission will continue to study the frequency of public company reporting after President Donald Trump called on the agency to consider shifting from quarterly to semiannual reports, SEC Chairman Jay Clayton said on Friday.

  • NEW YORK, Aug 17- The S&P 500 and the Dow Jones Industrial average extended gains and the Nasdaq turned positive on Friday on reports of progress in talks between the United States and China and other trading partners. And Mexico's economy minister Ildefonso Guajardo said he hopes to conclude outstanding bilateral issues on the North American Free Trade...

  • OTTAWA, Aug 17- The Canadian dollar strengthened against its U.S. counterpart on Friday after data showing a surge in domestic inflation triggered increased bets on another Bank of Canada interest rate hike as soon as September. Canada's annual inflation rate surged to 3.0 percent in July, its highest in nearly seven years, versus 2.5 percent the previous month...

  • ISTANBUL, Aug 17- Turkey's battered lira weakened 4 percent on Friday after a Turkish court rejected an American pastor's appeal for release, drawing a stiff rebuke from President Donald Trump, who said the United States would not take the detention "sitting down". The case of Andrew Brunson, an evangelical Christian missionary from North Carolina who has lived...

  • The EPA cannot delay the rule "by invoking general rulemaking authority under a different statutory provision," of federal clean air law, the court said in the ruling. In February, a federal court ruled that the EPA could not delay a regulation limiting methane emissions from oil and gas installations and this week a federal judge reinstated the Waters of the...

  • "Cut reporting frequency in half and you invite mischief and remove an established discipline," said David Kotok, Chairman& Chief Investment Officer at Cumberland Advisors in Sarasota, Florida. Half-yearly reporting would mark a huge change in U.S. disclosure requirements and put it in line with European Union and United Kingdom rules. Naeem Aslam, chief market...

  • NEW YORK, Aug 17- Another steep decline in the Turkish lira on Friday pushed emerging market equities lower and kept other world markets cautious, overshadowing hopes that an upcoming U.S.- China meeting would resolve concerns over trade tariffs. The Wall Street Journal reported that talks will take place in Washington on Aug. 21 and 22.. U.S. stocks climbed...

  • GENOA, Aug 17- Italy's government on Friday launched a formal procedure aimed at revoking concessions held by Autostrade per l'Italia to operate toll highways after a bridge it managed collapsed this week, killing at least 38 people. Some members of the governing coalition had earlier hinted that less drastic steps, such as a fine, may be considered, but the...