UPDATE 1-U.S. bird flu causes egg shortage, emergency measures CHICAGO/ NEW YORK, May 22- As a virulent avian influenza outbreak continues to spread across the Midwestern United States, some egg-dependent companies are contemplating drastic steps- importing eggs from overseas or looking to egg alternatives. A spokeswoman for Archer Daniels Midland Co said that as egg supplies tighten and prices rise, the food processing...
| By: P.J. Huffstutter and Bill Berkrot
US stocks dip in quiet trading ahead of Memorial Day weekend NEW YORK- Stocks are closing moderately lower in a relatively quiet day ahead of a holiday weekend. The price of oil fell $1 to close at $59.72 a barrel in New York. Campbell Soup rose 2 percent after its earnings came in ahead of what analysts were looking for.
Source: The Associated Press
Wall St Week Ahead-Yellen tone suggests choppiness for markets ahead NEW YORK, May 22- U.S. stock investors have been enjoying an extended period of low volatility and steady gains, but with the Federal Reserve on track to raise interest rates this year and major indexes near records, the market could get a bit choppier in coming weeks. Fed Chair Janet Yellen on Friday said she expected the U.S. central bank to raise rates in 2015,...
| By: Ryan Vlastelica
FOREX -Dollar rallies on U.S. price data, Fed's Yellen rate talk *Bank of Japan keeps policy unchanged, as expected. NEW YORK, May 22- The U.S. dollar turned higher on Friday, spurred off early losses after a U.S. inflation report that indicated underlying pressures are building bolstered the case for the U.S. "Stronger inflation, along with stronger growth data, is something that the Fed certainly wants to see," said Brian...
| By: Daniel Bases
California drought dilemmas... California is stepping up mandatory water restrictions for farmers across the state. CNBC's Jane Wells reports the latest.
Actavis hard switch A federal appeals court has made a ruling on a top selling Alzheimer's drug that could make things difficult for drugmaker Actavis, reports CNBC's Meg Tirrell.
UPDATE 2-Small U.S. oil platform on fire in Gulf of Mexico; no injuries May 22- A small offshore oil platform caught fire in shallow water near the coast of Louisiana on Friday and a sheen was seen in the sea after workers were evacuated, officials said. All 28 workers aboard were taken from the platform, located about 20 miles east of the boot tip of Louisiana, onto a nearby supply vessel and taken ashore. It was unclear how much oil had...