Manufacturing in the New York region developed in August for the first time in more than a year, reinforcing signs the worst recession since the 1930s is nearing an end. The Federal Reserve Bank of New York’s general economic index climbed to 12.1, higher than forecast and the first expansion since April 2008, the bank said today. Readings above...

The Federal Reserve Bank of New York bought $7.016 billion in Treasurys on Monday. Dealers submitted $15.94 billion in charge  maturing between 2013 and 2016 to the Fed. The U.S. central bank has achieved more than $250 billion of the $300 billion in U.S. charge  it promised in March to buy in an effort to keep borrowing costs, particularly for c...

Maguire Properties Inc., one of the largest owners of office buildings in Southern California, said two subsidiaries defaulted on mortgage payments but the company is not considering bankruptcy. Maguire shares fell on news of the subsidiaries’ default but turned higher after Rising’s call. The shares were up 12 cents at $1.01 near midda...

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