News Archive for December 19, 2014

  • Gold Rises on Hopes for Continued Low U.S. Interest Rates

    Gold prices rose Friday, buoyed by comments from the Federal Reserve earlier in the week that suggested the central bank is in no hurry to raise U.S. interest rates from rock-bottom levels.

  • Brokerages to Advisers: Follow the Carrot in 2015

    Wall Street’s biggest retail brokerages are waving more new carrots than sticks as they push their many financial advisers to win more clients and assets.

  • Syria Shattered

    The United Nations and the Assad regime negotiated an agreement in February 2014 for the evacuation of families, the sick and wounded from besieged neighborhoods in Homs. The deal also allowed the U.N. to bring in food, medicine and other ...

  • Natural Gas Futures Drop to Lowest Price in Over a Year

    Natural gas futures fell to their lowest price in over a year on Friday in the wake of data showing the U.S. is beginning to develop a surplus of the fuel thanks to soaring domestic production.

  • Roche Hit by Failure of Cancer Drug Trial

    ZURICH—Roche Holding AG on Friday said a late-stage study of its breast cancer drug Kadcyla failed to yield superior results to an existing treatment, damaging the outlook for stronger sales in one of its key drug markets.

  • Carnival Swings To Loss On Fuel Derivative Charge

    Carnival Corp. swung to a loss in its November quarter as improvements to ticket prices and onboard spending were wiped out by a heavy fuel derivative charge.

  • Hong Kong Court Finds Thomas Kwok Guilty of Corruption

    HONG KONG—A pair of billionaire brothers who run one of the world’s biggest property companies met different fates in the city’s highest-profile corruption trial in decades, with one walking free and the other potentially facing years in ...

  • U.S. Stocks Open Mixed, On Track for Weekly Gains

    U.S. stocks opened mixed Friday, but remained on track for weekly gains amid indications monetary policy will remain easy among major central banks.

  • Ally Financial Exits TARP As Treasury Sells Remaining Stake

    The Treasury Department has sold its remaining stake in Ally Financial Inc., the department announced on Friday.The Treasury sold 54.9 million shares at $23.25 per share, generating $1.3 billion, the Treasury said. The sale signified ...

  • China Investigates Executive at Nissan Joint Venture

    SHANGHAI—A Chinese executive at Nissan Motor Co.’s joint venture in China is under investigation for alleged corruption, as Beijing’s antigraft drive continues to focus on state-run companies.

  • Thai Union Frozen Products to Buy Bumble Bee

    Thai Union Frozen Products PCL, one of the world’s largest seafood companies, said Friday it is acquiring U.S.-based Bumble Bee Seafoods LLC for $1.51 billion.

  • Wheat Climbs as Russia Signals a Cut in Exports

    CHICAGO—U.S. wheat prices surged to a fresh seven-month high, buoyed by signs Russia is curbing exports of the grain to temper domestic food inflation.

  • Dollar General Still in Talks With Regulators on Family Dollar

    Dollar General Corp. said Friday that it is still in discussions with U.S. regulators about its unsolicited offer to buy Family Dollar Stores Inc., but it didn’t elaborate on what divestitures regulators may require to approve the deal.

  • For Cuba, Few See Rapid Change, Especially in Economy

    Every day, dozens of Cubans gather in Havana’s Parque Central to trade gossip and talk baseball. It is a tropical, if less offbeat, version of Speakers’ Corner in London’s Hyde Park.

  • Oil’s Drop Hits Big Investors Hard

    The recent slide in oil prices has caused sharp losses among some of Wall Street’s biggest names, the latest in a series of bad bets made by star investors during 2014.

  • European Stocks Remain Volatile

    European stocks remained volatile Friday, with investors weighing the prospect of more monetary stimulus in Europe against the threat of political upheaval in Greece as well as the Russian currency crisis.

  • Five Ukraine Soldiers Killed After Week of Calm, Official Says

    KIEV, Ukraine—The Ukrainian military suffered its first losses after a week of relative quiet in the east, an official said Friday, raising further concerns about an elusive next round of peace talks with pro-Russia separatists.

  • Nissan to Make More Cars in Japan, Boost Exports Next Year

    YOKOHAMA, Japan—Nissan Motor Co. plans to make more cars in Japan and boost exports next year, Chief Executive Carlos Ghosn said Friday, stepping up measures to benefit from a weakening yen that boosts profitability for exporters.

  • U.S. Government Bonds Edge Higher

    Treasury bonds edged higher on Friday as the biggest two-day selloff in more than a year attracted fresh buyers.In recent trading, the yield on the benchmark 10-year note was 2.193%, down from 2.204% a day earlier, according to Tradeweb.

  • China Revises Its GDP Calculations

    BEIJING—With the stroke of a pen, China announced Friday that world’s second largest economy was 3.4% larger last year than previously thought—chiefly due to a more accurate counting of services and their impact on economic output.

  • Risk Council Voted 9-1 to Designate MetLife ‘Systemic’

    WASHINGTON—Top financial regulators weren't unanimous in their decision Thursday to designate MetLife Inc. as “systemically important,” according to a release from the government oversight body.

  • India Expects Economy to Grow 5.5% This Year

    NEW DELHI—India’s government Friday projected stronger economic growth this year as investments gradually pick up, but cautioned that a weak rise in revenue is weighing on efforts to improve finances.

  • Syria Shattered

    The Assad regime stepped up its military offensive in Homs in February 2012, leaving hundreds dead as they emptied one neighborhood after another. By June, the military had sealed off central Homs with trenches, barricades and checkpoints, ...

  • BlackBerry’s Revenue Falls 34%

    BlackBerry Ltd. posted a surprise third-quarter operating profit, suggesting its cost-cutting efforts are paying off, but its disappointing revenue performance underscored the challenges the smartphone maker still faces in winning back ...

  • Paychex Earnings Grow on Strength of New Products

    Paychex Inc. said higher revenue thanks to a new health-insurance product in its human-resources segment helped drive results in the second quarter, a sign the company’s strategy to diversify its service offerings is paying off.

  • Oil Rout Spreads Across Markets

    This month’s big fall in the price of oil should be good news for much of the world’s economy. But so far markets have been telling a different story.

  • American Airlines Reaches Deal With Flight Attendants Union

    American Airlines Group Inc. said Friday that it had reached a joint collective-bargaining deal with the union representing 24,000 flight attendants, clearing up one big area of uncertainty as it continues its integration with US Airways.

  • U.K. Public Finances Get Boost From Forex Fines

    LONDON—Fines paid by banks to resolve allegations of manipulating the foreign-exchange market provided a boost to U.K. public finances in November, but closing the budget deficit in time to meet the government’s forecasts still looks like a ...

  • Airbus Selected for European Airborne Refueler Jet Contract

    LONDON—Airbus Group NV has been selected by three European countries to provide their future airborne refueling jet in a breakthrough for European efforts to cooperate more on defense programs.

  • European Committee Gives Positive Opinion on Celgene Blood-Cancer Drug

    Celgene Corp. said Friday that a European regulatory committee has given a favorable opinion of its blood-cancer drug, a positive indicator that the European Commission could approve the drug for use in untreated cases.

  • Detente Scrambles Political Calculus in Latin America

    The detente between the U.S. and Cuba after nearly 54 years of mutual hostility has the potential to redraw political and economic alliances across the hemisphere that have endured since the Cold War, government officials, diplomats and ...

  • Iraqi Kurdish Forces Break Mount Sinjar Siege

    Iraqi Kurdish forces battling Islamic State militants managed to open up a key corridor so that thousands of people from the country’s Yazidi minority who have been trapped on a mountain can flee, a senior Kurdish official said.

  • Who Needs Amazon or Wal-Mart

    Wal-Mart and Amazon have become America’s main conduits for cheap, mass-produced goods from China’s factory floors. But who needs them anymore?

  • CarMax Tops Expectations as Sales, Traffic Rise

    CarMax Inc. said used-car sales drove increases in profit and overall sales in the most recent period, as the company enjoyed its sixth-straight quarter of customer-traffic growth.

  • Finish Line Lowers Outlook on Margin Pressure

    Finish Line Inc. lowered its earnings outlook for the year on Friday citing margin pressures, a sign sporting-apparel retailers are also feeling the impact of a weak retail environment.

  • Eight Children Found Dead in Home in Australia

    SYDNEY—Eight dead children and a woman suffering from stab wounds were found inside a home in a northern Australian city on Friday, police said.

  • Air France-KLM Again Cuts Earnings Outlook

    LONDON—Air France-KLM SA on Thursday cut its 2014 earnings outlook by €200 million ($250 million), linking it to continued price weakness and the effects of a 14-day pilots strike.

  • Syria Shattered

    HOMS, Syria—For many, Homs once represented the best of the Middle East, an ancient city where people of different faiths, Christian and Muslim, did their best to live in peace.

  • The 10-Point. A personal, guided tour to the best scoops and stories every day in The Wall Street Journal, from Editor in Chief Gerard Baker.

    Good morning,A Fuzzy PictureU.S. officials are in a quandary over how to respond to the possibility that a nation-state used malware to attack a U.S. corporation. Our story looks at why the White House is walking a fine line in its search ...

  • Yuan’s Slide Gathers Steam

    The Chinese yuan’s slide gathered steam on Friday, falling to its weakest level in more than five months and nearing the weak end of its trading band, as the market increasingly grows weary of a slowdown in the world’s second-largest ...

  • U.S. Spy in Havana Exposed American Moles

    WASHINGTON—In announcing the prisoner exchange that set up a momentous shift in U.S.-Cuba relations, the Obama administration this week made an unusual disclosure, revealing the existence of a key intelligence agent, and detailing specific ...

  • Roche Should Look Forward to a Happier New Year

    Sometimes the drugs don’t work. Roche damped any festive cheer Friday with negative trial data that sent its shares down 5%.The failure of one Alzheimer’s drug shouldn’t have rattled investors. But disappointment across the board in a ...

  • Hong Kong Doesn’t Find Evidence of Forex Benchmark Rigging by Banks

    HONG KONG—Hong Kong’s de facto central bank on Friday said it found no evidence of collusion among banks in rigging benchmarks in the $5.3-trillion-a-day foreign-exchange market.

  • French Computer-Services Company Atos to Buy Xerox’s IT Outsourcing Unit

    Computer-services company Atos SA will buy Xerox Corp.’s information technology outsourcing business for $1.05 billion in cash, a deal that would bolster the French company’s position in the U.S.

  • U.S. Approves Sale of Ships to Taiwan

    TAIPEI—The U.S. approved the sale to Taiwan of four used warships, drawing a swift rebuke from China, which called the move damaging to Chinese security interests.

  • How a Memo Cost Big Banks $37 Billion

    Assistant U.S. Attorney Richard Elias was leafing through a pile of J.P. Morgan Chase & Co. documents while tending to his newborn son in 2012 when he found something that came back to haunt the three largest U.S. banks.

  • Thailand, China Sign Railway Deal

    BANGKOK—Thailand on Friday signed two memorandums of understanding with China on the development of a key rail link project and the purchase of agricultural products.

  • U.S. Struggles for Response to Sony Hack

    The U.S. government is looking for ways to retaliate for North Korea’s apparent hacking of Sony Pictures but is struggling for an appropriate solution, according to people familiar with the discussions.

  • Fosun Sweetens Club Med Bid

    PARIS—China’s Fosun International Ltd. and its partners Friday yet again raised their offer for Club Méditerranée SA, highlighting the conglomerate’s determination to win a protracted takeover battle for the French resorts operator.

  • ECB’s Next New Member Could Support Bond Buying


  • China Investors Look to Index Reshuffle to Fuel Next Rally

    As China’s stock markets rocket higher, the next breakthrough being closely watched is whether Chinese shares will be included in global equity indexes that influence trillions of dollars of fund flows.

  • Samsung Plans to Raise Dividend Payout

    SEOUL—Samsung Electronics Co. said Friday it intends to raise its annual dividend payout for this year by 30% to 50%, a move that will come as good news to shareholders who have been clamoring for higher returns as growth in the company’s ...

  • Oil Prices Rise in Europe

    LONDON—Oil prices rose on Friday, after a volatile week that saw the commodity whipsaw between gains and losses.Crude is still on track to record its fourth consecutive weekly drop, exacerbating a rout in prices that started in the summer. ...

  • Japanese Institute Fails to Reproduce Results of Controversial Stem-Cell Research

    TOKYO—Japan’s Riken research institute said Friday that efforts to reproduce results of what was once billed as a groundbreaking method of creating stem cells have failed, likely bringing to a close a scandal that rocked the scientific ...

  • HIV Infections Surge in Cambodian Village

    PHNOM PENH, Cambodia — Concern is building over the number of people who appear to have been infected with HIV in a village in northwestern Cambodia, with health officials saying that at least 90 people have tested positive for the virus.

  • BOJ Plays Down Slide in Oil Prices

    TOKYO—The Bank of Japan stood pat on monetary policy Friday despite a rapid fall in global oil prices that threatens the central bank’s efforts to generate 2% inflation.

  • Several Islamic State Leaders Have Been Killed in Iraq, U.S. Says

    WASHINGTON—U.S. airstrikes have killed three military leaders of the extremist group Islamic State in Iraq in recent weeks, the Pentagon’s top uniformed officer said Thursday.

  • Volcano in Eastern Indonesia Erupts

    TERNATE, Indonesia—A volcano in eastern Indonesia erupted on Friday, spewing towering clouds of hot ash into the air and sending a group of hikers scrambling to safety, leaving nine injured and one missing, an official said.

  • No Currency to Claims of New Asian Financial Crisis, Say Veterans of 1990s Turmoil

    As wild swings in Russia’s ruble fan fears of a crisis in emerging markets, veterans of the late-1990s Asian financial crisis say they have been surprised by market fluctuations but note the region’s economies are showing few signs of ...

  • U.S. Stocks Jump on Fed Reassurance

    The Federal Reserve’s pledge to be “patient” when it comes to raising interest rates gripped the stock market again Thursday, propelling the Dow Industrials to their biggest two-day percent gain in more than three years

  • Asian Shares Rise on Fed Stance

    Stocks in Japan and Australia led Asia higher for a second day on Friday, as investor confidence continued to be bolstered by expectations the U.S. is in no rush to raise interest rates.

  • German Consumer Sentiment to Reach Eight-Year High in January

    FRANKFURT—German consumer confidence is set to start the new year on a strong note, hitting its highest level in eight years, on hopes economic expansion in Europe’s largest economy will accelerate in the coming months, a sentiment survey ...

  • Russian Ruble Rises Slightly

    MOSCOW—Russia’s ruble strengthened a little early Friday as the oil price steadied and the country’s finance minister said he expected the currency to rebound in early 2015.

  • Shengjing Bank’s IPO Throws Light on Financial Stress in China

    HONG KONG—A Chinese bank that on Friday raised more than $1 billion in a Hong Kong initial public offering sheds some light on the strains mounting in China’s creaky financial system.

  • Spanish Political Office Subject of Failed Attack

    MADRID—A car containing explosive materials crashed into the Madrid headquarters of Spain’s ruling Popular Party, though there were no casualties, police said Friday.

  • Chinese Pilot Sentenced to Three Years in Prison for Jet Crash

    BEIJING—A Chinese court on Friday sentenced an airplane captain to three years in prison after 44 people died when his plane crashed more than four years ago.

  • British American Tobacco Settles Flintkote Litigation

    LONDON—British American Tobacco PLC has agreed to settle a long-running dispute over dividend payments and asbestos claims with Flintkote Co. for $575 million.

  • Sony Hack Shines Light on North Korea’s Cyber Attackers

    SEOUL—North Korea selects some of its brightest talent for cyberwarfare training and has allocated significant resources to the program as its conventional forces age and become increasingly obsolete, defectors and experts say.

  • South Korea Court Dissolves Left-Wing Political Party

    SEOUL—South Korea’s Constitutional Court on Friday dissolved a small far-left political party, of which several members were found guilty earlier this year of trying to instigate an armed rebellion against the government in the event of war ...

  • Japan, U.S. Delay Review of Security Cooperation


  • Curtain Falls on a Broadway Institution

    SAD GOODBYE: Diners sit at the counter of Cafe Edison in Midtown Manhattan. The restaurant, which opened in 1980 and was popular with Broadway insiders, will close Sunday.

  • China Internet Giants Scramble for Content

    Chinese Internet companies are fighting on two entertainment fronts at once, battling with each other for content, and struggling to convince consumers that it is worth paying for.

  • Killer Icicles

    Christmas IcetastropheSaturday 9 p.m. SyfyLeave it to Syfy and its movie-making machine to come up with a wacky twist on a white Christmas and a story about killer icicles. Better yet, “Christmas Icetastrophe” not only features giant ...

  • Federal Prosecutors Sue New York City Over Rikers Troubles

    Federal prosecutors filed a lawsuit Thursday against New York City for alleged civil-rights violations at Rikers Island, demonstrating their impatience with the city’s efforts to improve conditions at the jail complex.

  • De Blasio Gets His Way With Council So Far

    New York City Mayor Bill de Blasio’s first-year agenda has faced next to no resistance in the City Council, a feat some say is inextricably linked to his successful effort to install his choice for council speaker, Melissa Mark-Viverito.

  • Fed, Crude, Russia Send Dow on Wild December Ride

    The Dow industrials rallied to their biggest two-day point gain since November 2008 after the Federal Reserve this week signaled it would take its time in raising interest rates.

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  • Art Collectors Predict ‘Stampede’ to Cuba

    With the U.S. and Cuba restoring diplomatic ties, some art-world cognoscenti are betting that the tiny island could become the next hot corner of the global art market.

  • A Guide to Gifts of Art for the Whole Family

    Want to give art this holiday season? Click through to find art-focused gifts for every member of your family, from your hip grandmother to your brand-new nephew.

  • Social Security Disability Firm Binder & Binder Files for Chapter 11

    Binder & Binder, one of the nation’s largest Social Security disability firms, filed for bankruptcy protection Thursday night amid shrinking demand for its services as government scrutiny of disability claims tightens.

  • Getting Into the Swing of the Holiday Season

    Wynton Marsalis and the Jazz at Lincoln Center Orchestra, ‘Big Band Holidays’Frederick P. Rose Theater Broadway at 60th Street, Fifth Floor Friday and Saturday

  • Bowl Season: Proof That My Conference Can Beat Yours

    College football bowl season begins on Saturday, which means it’s time for fans of the Southeastern Conference to start bragging and fans of the Big Ten to hide under a pile of blankets.

  • Obama Spells Out College-Ranking Framework

    The Obama administration will spell out an ambitious college-rating plan on Friday that introduces new metrics to judge the nation’s roughly 5,000 colleges and universities at a time when student debt is hamstringing the U.S. economy and ...

  • Holiday Traditions on the Party Circuit

    One of the nicest things about Chuck Pfeiffer’s annual holiday lunch is that, going into it, you know what you’re going to get.Mr. Pfeiffer, a former adman, model, sometime film producer, and actor who appeared in Oliver Stone’s “Wall ...

  • Samsung Says ‘Cya’ to ChatON Smartphone Messaging App

    SEOUL—Samsung Electronics Co. said Friday that it would discontinue a mobile-messaging chat service that it had promoted heavily in recent years, the latest sign of the South Korean technology giant’s struggles to gain traction building the ...

  • Arizona State Completes Deal for Troubled Business School

    Arizona State University has completed its deal to take over the Thunderbird School of Global Management, the last chapter in what has been a yearslong saga for the troubled Glendale, Ariz., business school.

  • New York’s Second Avenue Waits for Building Plans to Jell

    Two luxury high-rises are on the horizon for a small strip of Yorkville that has been home to mostly low-rise buildings and mom-and-pop restaurants for decades. But for now, a handful of the tenement-style buildings—located on the east side ...

  • Ex-American Realty Chair Accused of Ordering Accounting Changes

    Property mogul Nicholas Schorsch ordered subordinates to manipulate financial results at his firm, American Realty Capital Properties Inc., according to a lawsuit brought against the former chief executive by an ex-chief accounting officer.

  • U.S. Relaxes Rules on Cuba Travel


  • Cafe Edison Is Going, Not Forgotten

    The reviews were good, it developed a loyal cult following, and it filled seats night after night.But in the end, Cafe Edison followed a familiar script in New York real estate: The Midtown Manhattan diner, beloved by Broadway types and ...

  • Tokyo’s Haneda Airport Challenges Narita

    TOKYO—Tokyo’s Haneda airport is challenging rival Narita International’s status as the primary gateway to Japan, attracting a growing share of international passengers who appreciate its convenient location and connections to other Japanese ...

  • Uh Oh: Tom Brady Is Celebrating Again

    NFL defenses know one thing: You should fear Tom Brady. Increasingly, his teammates agree.“All of a sudden he’s a foot away from you, head-butting you three times,” said teammate Brandon LaFell. “I’m like, hey, man, calm down.”

  • A New Elvis Presley Exhibition in London, Party Shoes, Paris Magnum Photos and More

    THE KING // It’s now or neverIn January, Elvis Presley would have turned 80 and, no doubt, he’d have thrown a party fit for a king to mark the occasion. Instead, fans are invited to “Elvis at the O2: The Exhibition of His Life”—the biggest ...

  • Craft Spirits From Unusual Locations

    LIMONCELLO FROM the heart of London, a rum from the distinctly un-Caribbean climes of Massachusetts, a high-proof organic gin from northern Sweden—small distilleries across the globe are producing exciting drinks in unlikely places. Here ...

  • Bringing Music Back Home

    IF THE PHRASE “home audio” had been in common parlance a century ago, it would have meant family and friends gathering around a piano in the parlor during the holiday season, to sing carols or hit songs of the era—and a little later, ...

  • Depleted Knicks Fall to Bulls

    CHICAGO—The Knicks dropped another close one Thursday night, falling, 97-103, to the Chicago Bulls.New York (5-23) hung tight, and actually managed to take a couple of leads early in the fourth quarter.

  • Panel Finds Deep Problems at Secret Service


  • Obama’s New Path: Plowing Ahead Solo

    WASHINGTON—The six weeks since his party suffered historic losses in the midterm elections offer a view of how President Barack Obama plans to govern in his final two years: plowing ahead with his agenda regardless of the political fallout.

  • Canadian Companies Operating in Cuba Prepare for Change

    After operating for decades in a Cuba with no American presence, Canadian firms are eyeing the potential normalization of U.S.-Cuban relations with caution.

  • Canadian Companies Operating in Cuba Prepare for Change

    After operating for decades in a Cuba with no American presence, Canadian firms are eyeing the potential normalization of U.S.-Cuban relations with caution.

  • Lawsuit Alleges Price Gouging by Maker of Hepatitis Drug

    Ever since Gilead Sciences began selling its Sovaldi hepatitis C treatment, there has been controversy over the price. State Medicaid directors have struggled to restrict usage. A congressional hearing was held. And at one point, the ...

  • Another American in Paris

    West Palm Beach, Fla.Israel Horovitz, who in the ’60s and ’70s was one of New York’s most prolific and talked-about playwrights, is now better known in France, where more than 50 of his plays have been translated and produced, than in his ...

  • Street Styles From Asia

    Harajuku, TOKYO. Archie Griffiths, model. River Island jacket and jeans, Uniqlo sweater, Topman shoes, vintage sunglasses.Dongdaemun Design Plaza, SEOUL. Kim Ye-seul, business woman. Skirt, shoes and bag from Dongdaemun Market.

  • Musicians Are Hip to These Christmas Songs

    Christmas songs are beloved for all kinds of reasons, only some of which are related to their artistic merit. “Santa Claus Is Coming to Town,” which tops ASCAP’s annual list of the most frequently performed holiday songs, is irresistibly ...

  • After Sony Hack, Hollywood Searches for a New Villain

    Ripples from Sony Pictures’ decision not to release its controversial comedy “The Interview” immediately reached other entertainment projects in the works as producers and studios sought to distance themselves from productions involving ...

  • Poll Finds Dissatisfaction With de Blasio on Police-Community Ties

    A majority of New York City voters disapprove of Mayor Bill de Blasio’s handling of relations between police and the community, a new poll says.

  • As Season Winds Down, Beckham’s Numbers Do All the Talking

    EAST RUTHERFORD, N.J.—Giants receiver Odell Beckham Jr. is the NFL’s offensive rookie of the year, whether or not his teammates and coaches want to admit it.

  • Jalen Saunders Finds a New Football Life With New Orleans Saints

    Jalen Saunders knew that when the Jets cut him in September, he’d have to find a another team and endear himself to a new group of coaches and teammates. But the rookie receiver and punt returner, who wore No. 16 in New York, never foresaw ...

  • Prosecutors: Rapper Bobby Shmurda ‘Driving Force’ Behind Deadly Gang

    Chart-climbing hip-hop artist Bobby Shmurda was described Thursday by prosecutors as the driving force behind a drug-dealing operation and deadly gunfights involving rival gangs.

  • Carmelo Anthony Ponders a Long Break as Injuries Mount for Knicks

    CHICAGO—When the banged-up Knicks took the floor against the Bulls Thursday night without their top three scorers and their best defender, it marked a new low point in a season full of them.

  • Mets’ Farm System Poised to Storm New York

    The Mets may be mired in their third-longest streak of losing seasons (six), but if the experts are right about the strength of their minor-league system, that’s about to change dramatically.

  • Rangers Trying to Avert an Outbreak of the Mumps

    GREENBURGH, N.Y.—Derick Brassard’s equipment, plus a holiday gift bag, were left undisturbed at his locker on Thursday. The Rangers had an optional practice, and Brassard was still recovering from the mumps, the contagious disease now ...

  • White House Proposes Vetting Projects for Climate Change

    WASHINGTON—The White House is calling on federal agencies to consider the climate-change impact of a wide range of energy projects that require government approval.

  • A Glass and a Slice, Please

    Pizza and Champagne may sound like an unlikely pairing—like caviar and Prosecco—but it’s one of the favorite combinations of the wine directors of two new pizza restaurants in New York: Marta in the Martha Washington Hotel and Rossopomodoro ...

  • The Men Who Made Bond

    So many men have been intimately involved in the James Bond movie franchise over the years that it’s difficult to keep track of them all. The Christmas Eve showing on the EPIX premium channel of “Everything or Nothing: The Untold Story of ...

  • Fed Gives Banks More Time to Sell Private-Equity, Hedge-Fund Stakes

    WASHINGTON—Regulators handed Wall Street banks a temporary reprieve from a rule that forces them to pull out of certain risky investments.The Federal Reserve said it would give banks two additional years to sell stakes in private-equity, ...

  • Corrections & Amplifications

    Philip Morris International Inc.’s shares closed Dec. 8 at 86.79, down 0.35. The close was incorrectly given as 35.10 in the Biggest 1,000 Stocks listings in the Dec. 9 edition.

  • China Raises GDP Estimate 3.4%

    BEIJING—China raised its estimate of its 2013 economic output by 3.4% based on its latest survey of the economy, the National Bureau of Statistics said on Friday.

  • Another Charged in Protest Scuffle

    One of seven suspects wanted in an attack on two New York Police Department lieutenants during Saturday night’s Eric Garner protest was charged Thursday, Commissioner William Bratton said.

  • Mobile’s Rise Poses a Riddle for Banks


  • Medicare to Cut Payments to Some Doctors, Hospitals

    More than 257,000 U.S. doctors will see their Medicare payments cut by 1% next year because they didn’t meet federal goals for using electronic medical records, said the Centers for Medicare and Medicaid Services.

  • MetLife Considers Challenging ‘Systemically Important’ Label

    The nation’s biggest life insurer by assets is weighing a legal showdown with the U.S. after a panel of regulators concluded it poses significant risks to the financial system and warrants tougher oversight.

  • Arson Caused Massive Los Angeles Fire, Investigators Say

    LOS ANGELES—Investigators have determined that arson caused a massive fire that reduced an unfinished apartment complex in downtown Los Angeles to a block of charred wood.

  • Cuomo Administration and Teachers Unions Collide Over Changes


  • Sam Nazarian Says He Needs to ‘Take Some Time Away’ From SBE

    Hotelier Sam Nazarian told Nevada gambling regulators at a hearing on Thursday that he was taking time off from his hospitality company, SBE Entertainment Group, following fresh admissions about drug use and about a man he alleges extorted ...

  • Toledo Rallies to Remain Jeep’s Home

    Toledo, Ohio, is scrambling to come up with an incentive package that would allow it to remain the production home of the Jeep Wrangler, a vehicle with deep economic and emotional ties to the area.

  • St. Croix Refinery Revival Awaits Tax Vote

    Robert Moore, a former energy trader in New Canaan, Conn., was eating dinner at a local Mexican restaurant last year when he overheard a fellow diner talking excitedly about reopening a defunct oil refinery in the U.S. Virgin Islands. The ...

  • The Quest for a Perfect Persian Rug

    YOU DON’T NORMALLY spend thousands of pounds on a piece of art, then walk all over it. Unless you’re in the market for a Persian rug, that is.

  • Unilever Withdraws Suit Against Maker of Egg-Free ‘Mayo’

    Unilever PLC on Thursday said it is withdrawing a high-profile lawsuit it filed against a California food startup over the marketing of mayonnaise.

  • American Apparel Approached About Possible Takever

    American Apparel Inc. has been approached by Irving Place Capital about a possible takeover, according to people familiar with the matter.Irving Place sent an expression of interest to the board of the Los Angeles retailer in the last few ...

  • Pentagon Spreads Out F-35 Production, Repair Work to Get Orders

    The F-35 Joint Strike Fighter boasts a futuristic radar-evading fuselage and a pilot’s helmet that displays 360-degree views on the inside of its visor. It also carries another attribute that its backers hope will make it attractive to the ...

  • Credit-Rating Firm DBRS to Be Sold

    Privately held credit-rating firm DBRS Ltd. has reached an agreement in principle to sell itself to a group led by private-equity firms Carlyle Group LP and Warburg Pincus LLC for more than $500 million, according to people familiar with ...

  • When Old Vienna Acquired a Taste for the Modern


  • Nike Sales Jump, But So Do Growth Concerns

    Nike Inc. reported strong sales growth, but a dip in future orders coupled with underwhelming margin expansion tempered the outlook for the world’s biggest sportswear maker.

  • Cuomo Bans Fracking

    The natural gas shale boom has been a blessing for much of America in these otherwise difficult times—from Texas to North Dakota through Ohio and Pennsylvania. But the bounty won’t be coming to New York, where Governor Andrew Cuomo on ...

  • What’s News—

    Business & Finance***France’s antitrust authority fined a group of consumer-products companies, including L’Oréal and Unilever, a total of roughly $1.23 billion for anticompetitive practices between 2003 and 2006.

  • Billionaire Drahi Sets Sights on France’s L’Express

    PARIS—After spending about €25 billion, or roughly $31 billion, on telecom deals this year, billionaire cable investor Patrick Drahi has emerged on a new stage: media ownership.

  • What’s News—

    Business & Finance***Uranium prices are defying the broad commodities selloff that has battered oil and gas as Asia’s biggest economies increase their reliance on nuclear energy and move away from coal-fired plants.

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