Finance news

• U.S. stocks snap losing streak but oil and bonds decline

  26-08-2015 23:54 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - Wall Street rebounded sharply on Wednesday after six straight days of large declines caused by China worries, while long-dated bond prices fell after a top Federal Reserve official scaled back expectations of a September rate increase. The dollar rebounded for a second straight session as firmer U.S. stocks and a recouping of some losses in European shares reduced the need to buy safe-haven currencies such as the yen. Oil prices fell, however, after a drawdow
  
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• BNY Mellon pricing glitch affects billions of dollars of funds

  26-08-2015 23:40
  
  (Reuters) - BNY Mellon Corp was scrambling to fix a computer glitch on Wednesday that has delayed how billions of dollars of assets are valued, throwing the U.S. funds industry into disarray and...
  
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• Exchanges, Barclays win dismissal of U.S. high-frequency trading case

  26-08-2015 23:33
  
  NEW YORK (Reuters) - Major U.S. stock exchanges and Barclays Plc on Wednesday won the dismissal of nationwide litigation in which pension funds and other investors accused them of rigging markets to...
  
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• Are hedge funds just pricey and passive?

  26-08-2015 23:25
  (Reuters) - Investors in hedge funds are likely to be paying for a product more like an index fund than a skill-driven market beater.
  
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• Steep stock losses have some investors loaded for bear

  26-08-2015 23:22
  
  NEW YORK (Reuters) - After a six-day span in which the benchmark Standard & Poor's 500 dropped 11 percent, some fund managers and analysts on Wall Street are raising the possibility that a bear...
  
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• Bay St rallies in biggest gain in seven months

  26-08-2015 23:21 via news.yahoo.com
  
  By Solarina Ho and Leah Schnurr TORONTO/OTTAWA (Reuters) - Canada's main stock index racked up its biggest increase in seven months on Wednesday in another volatile session as investors dove back into shares that had recently sold off. The TSX, which is heavily weighted with energy stocks, has been hit by the slide in crude prices and was caught up in the global market rout earlier this week that was fueled by concerns about China. Despite faltering during the day, Toronto stocks were able to ra
  
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• US stocks rebound to log best day in 4 years

  26-08-2015 22:42 via news.yahoo.com
  
  An afternoon surge Wednesday gave the stock market its best day in close to four years, as stocks rebounded from a six-day slump.
  
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• Wall Street chalks up biggest gain in four years

  26-08-2015 22:34 via news.yahoo.com
  
  Led by Silicon Valley stalwarts Apple, Amazon and Google, the surge put the brakes on a six-day losing streak that saw the S&P 500 surrender 11 percent. All 10 major S&P 500 sectors jumped, led by a dizzying 5.3 percent jump in the technology index , its largest one-day rise since 2009. Some of the late-day rally was driven by short-term traders, including many who had bet the market would fall and rushed to cut their losses, said Michael Matousek, head trader at U.S. Global Investors In
  
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• More Turbulence On FTSE But Dow Jones Rises

  26-08-2015 22:23 via news.yahoo.com
  
  The London stock market has suffered more volatility with £26bn wiped off the value of the FTSE 100 index of leading UK shares. But the United States had a better day, with the Dow Jones up 3.95% at 16,285 after big falls in the previous session. Recent falls have seen the FTSE 100 fall into "correction" territory - it is more than 10% off its all-time closing high of 7,104 in April.
  
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• RBC reports spike in energy sector bad loans; shares fall

  26-08-2015 22:21
  
  TORONTO (Reuters) - Royal Bank of Canada reported a spike in bad loans to the energy sector on Wednesday, highlighting the impact the oil-price correction is starting to have on Canadian banks and...
  
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• Obama appoints economist Shambaugh to Council of Economic Advisers

  26-08-2015 22:20 via news.yahoo.com
  
  By Jeff Mason WASHINGTON (Reuters) - Jay Shambaugh, a George Washington University professor, is joining the White House Council of Economic Advisers as its third member, rounding out a team that provides economic analysis and advice to President Barack Obama. The White House on Wednesday announced Obama's appointment of Shambaugh, who worked as a staff economist for the CEA from 2009 to 2011.
  
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• Wall St. rallies as Fed seen cautious on rate hike

  26-08-2015 22:19 via news.yahoo.com
  
  NEW YORK (Reuters) - Wall Street racked up its biggest one-day gain in four years on Wednesday as fears about China's economy gave way to bargain hunters emboldened by expectations the U.S. Federal Reserve might not raise interest rates next month.
  
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• US stocks end sharply higher after afternoon surge

  26-08-2015 22:14 via news.yahoo.com
  
  U.S. stocks are closing sharply higher, giving the stock market its best day in close to four years.
  
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• U.S. money market assets jump to highest in five months: iMoneyNet

  26-08-2015 21:55
  NEW YORK (Reuters) - Assets of U.S. money market funds rose to a five-month high as some investors piled into cash because of global market turmoil stemming from worries about China, the Money Fund...
  
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• US stocks surge in afternoon trading, rebounding from slump

  26-08-2015 21:49 via news.yahoo.com
  
  U.S. stocks surged in afternoon trading, putting the stock market on track for its biggest gain in close to four years.
  
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• Wall Street surges as rate hike expectations recede

  26-08-2015 21:39 via news.yahoo.com
  
  Wall Street rallied more than 3 percent on Wednesday afternoon as fears about China's economy gave way to bargain hunters emboldened by expectations the U.S. Federal Reserve might not raise interest rates next month. All 10 major S&P 500 sectors were up, led by the technology index's 4.3 percent gain, raising expectations that Wall Street could snap a six-day losing streak that saw the S&P 500 lose 11 percent.
  
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• Stock markets diverge, crude falls as China jitters persist

  26-08-2015 21:24 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - Wall Street was sharply higher on Wednesday while European shares and commodities prices fell as investors balanced strong U.S. economic data and interest rate comments with fears about China's slowing economy. The benchmark S&P 500 was up 2.6 percent in afternoon trading, helped by stronger-than-expected data on durable goods orders and comments that appeared to make a September interest rate hike less likely. New York Fed President William Dudley said a
  
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• Global stock markets diverge, crude falls as China jitters persist

  26-08-2015 21:20 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - Wall Street was sharply higher on Wednesday while European shares and commodities prices fell as investors balanced strong U.S. economic data and interest rate comments with fears about China's slowing economy. The benchmark S&P 500 was up 2.6 percent in afternoon trading, helped by stronger-than-expected data on durable goods orders and comments that appeared to make a September interest rate hike less likely. New York Fed President William Dudley said a
  
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• Bruising sell-off tests market faith in central banks

  26-08-2015 21:02 via news.yahoo.com
  
  By Lionel Laurent LONDON (Reuters) - A bruising 48-hour sell-off in global stocks driven by fears of slowing growth has rocked market confidence in central bankers' ability to fight deflation, restore economic health and keep a six-year-old bull run going. With the market mood still fragile, central banks appeared on Wednesday to be singing from the same soothing hymn sheet: U.S. Federal Reserve official William Dudley said hiking interest rates next month seemed less appropriate, while a Europe
  
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• Bill Gross's Janus bond fund drops second consecutive day

  26-08-2015 20:50
  NEW YORK (Reuters) - Bill Gross's Janus Global Unconstrained Bond Fund suffered its second day of declines in its net asset value on Tuesday, wiping out gains for the year, according to fund-research...
  
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• IMF chief Lagarde to visit Indonesia next week

  26-08-2015 20:47 via news.yahoo.com
  
  The International Monetary Fund managing director, Christine Lagarde, heads to Indonesia next week for talks with senior officials and a high-level Asian finance conference, the IMF said Wednesday. During her September 1-2 visit, Lagarde will meet with President Joko Widodo and other senior officials, including Bank Indonesia Governor Agus Martowardojo. The visit "presents an opportunity to exchange views on recent economic developments, Indonesia's prospects, and its role as an emerging power b
  
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• Serbia may hold early elections, decision by end-September: PM Vucic

  26-08-2015 20:46 via news.yahoo.com
  
  Serbian Prime Minister Aleksandar Vucic said on Wednesday there was a 50/50 chance his government would call an early election, but he declined to give his reasons. A decision on when to call the vote would be made by the end of September, said Vucic, who took office in April 2014 after a resounding election win by his conservative Serbian Progressive Party. "We have to take care of these economic reforms that we have already launched, and that was the reason why we haven't called an election so
  
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• UPDATE 1-Puerto Rico fiscal plan includes cash and cuts -report citing draft

  26-08-2015 20:43
  NEW YORK, Aug 26 (Reuters) - Puerto Rico is planning to
  inject $1.5 billion into the island in capital expenditure over
  five years, as part of a turnaround plan which includes cuts to
  schools, its...
  
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• Wall St. up as chances of Sept rate hike recede

  26-08-2015 20:28 via news.yahoo.com
  
  By Tanya Agrawal and Sweta Singh (Reuters) - U.S. stocks were up almost 2 percent in choppy afternoon trading on Wednesday after a top Federal Reserve official said global market turmoil made the case for a September interest rate hike was "less compelling". New York Fed President William Dudley's remarks were the clearest indication yet that market ructions caused by fears of an economic slowdown in China could affect U.S. monetary policy. All 10 major S&P 500 sectors were up, led by the te
  
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• Greek privatisations will go ahead: outgoing economy minister

  26-08-2015 20:03 via news.yahoo.com
  
  A major sell-off of Greek public assets promised as part of its huge international bailout will go ahead as planned, the outgoing economy minister said Wednesday, despite looming snap elections. "The agreed arrangements have been agreed and will be applied," Georges Stathakis told reporters in answer to a question on the planned privatisation of Piraeus port, the national railway company and a string of other ports and airports. Prime Minister Alexis Tsipras resigned last week after his acceptan
  
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• Puerto Rico fiscal plan includes cash and cuts -report citing draft

  26-08-2015 19:43
  NEW YORK, Aug 26 (Reuters) - Puerto Rico is planning to
  inject $1.5 billion into the island in capital expenditures over
  five years, as part of a plan to turn around its fiscal crisis,
  Puerto Rico...
  
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• China police summon 11 over stock market activities: reports

  26-08-2015 19:38 via news.yahoo.com
  
  Chinese police have summoned 11 people including a financial journalist to assist investigations related to illegal stock market activities, state media reported, as the government targets volatility on the exchanges. The Chinese government launched an unprecedented rescue package as the stock market plummeted 30 percent from mid-June, which included a crackdown on short-selling and funding a state company to buy shares on its behalf. Wang wrote a story in July saying the securities regulator wa
  
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• Wall Street off highs as China worries persist

  26-08-2015 19:10 via news.yahoo.com
  
  (Reuters) - U.S. stocks lost much of their early gains in afternoon trading on Wednesday as ongoing worries about China's economy outweighed the apparently receding chance of a U.S. rate hike in September.
  
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• Stock Market Falls: £26bn Wiped Off FTSE 100

  26-08-2015 19:05 via news.yahoo.com
  
  The London stock market has suffered more volatility with £26bn wiped off the value of the FTSE 100 index of leading UK shares. Recent falls have seen the FTSE 100 fall into "correction" territory - it is more than 10% off its all-time closing high of 7,104 in April. Global markets have been rocked in recent weeks by the slowdown in China, the world's second biggest economy, and the depreciation of its currency, the yuan.
  
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• Markets ride rollercoaster after China rate cut

  26-08-2015 18:55 via news.yahoo.com
  
  Global equity markets went on another rollercoaster ride Wednesday as China's interest rate cut showed no sign of ending a crisis fuelled by fears over stalling growth in the world's number-two economy. Frazzled investors sent Europe's top indexes swinging between losses and gains Wednesday after a choppy session on Asian bourses, and analysts predicted even more turbulence ahead. China's central bank reduced interest rates and slashed the amount of money banks need to hold in reserve on Tuesday
  
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• World stocks diverge, commodities fall as China jitters persist

  26-08-2015 18:54 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - Wall Street advanced on Wednesday while European shares and commodities fell as investors balanced strong U.S. economic data and policy comments with fears about China's slowing economy. New York Fed President William Dudley said a rate hike next month seems less appropriate given the threat posed to the U.S. economy by recent global market turmoil. Most U.S. Treasuries prices turned positive, erasing earlier losses, after Dudley's rate hike comments.
  
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• Stock markets diverge, commodities fall as China jitters persist

  26-08-2015 18:52 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - Wall Street advanced on Wednesday while European shares and commodities fell as investors balanced strong U.S. economic data and policy comments with fears about China's slowing economy. New York Fed President William Dudley said a rate hike next month seems less appropriate given the threat posed to the U.S. economy by recent global market turmoil. Most U.S. Treasuries prices turned positive, erasing earlier losses, after Dudley's rate hike comments.
  
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• European shares end down after Syngenta slumps

  26-08-2015 18:51 via news.yahoo.com
  
  By Sudip Kar-Gupta and Alistair Smout LONDON (Reuters) - European shares ended nearly two percent lower on Wednesday after a volatile session, hit by a late drop in Syngenta after Monsanto dropped its offer for the company. Stocks remain highly sensitive to fears over Chinese growth which have wreaked havoc in markets for days, but benchmark indexes closed above session lows on an early Wall Street rally and hopes of monetary stimulus from the European Central Bank. Syngenta fell 18.2 percent af
  
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• Leading Tripoli negotiator quits a day before new Libya peace talks

  26-08-2015 18:29 via news.yahoo.com
  
  By Ahmed Elumami TRIPOLI (Reuters) - A senior negotiator from one of Libya's two parliaments on Wednesday quit U.N.-sponsored talks on forming a unity government a day before a new round of negotiations. The United Nations has been trying to persuade the country's warring factions for months to form a unity cabinet and end fighting across the nation four years after the ousting of Muammar Gaddafi. Militant groups allied to each of the two administrations have brought the country's oil-dependent
  
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• Airbus to delay delivery of first A380 to Russia's Transaero

  26-08-2015 18:29 via news.yahoo.com
  
  European planemaker Airbus is delaying the delivery of Russian carrier Transaero Airline's first A380 superjumbo, an Airbus spokeswoman said on Wednesday, as the recession-hit Russian economy dents travel demand in the region. "The contract is still in place," the spokeswoman said. The Airbus spokeswoman said the delay would not affect Airbus' plans to breakeven on the A380 program this year.
  
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• U.S.-based bond funds post fourth straight week of outflows: ICI

  26-08-2015 18:24
  
  NEW YORK (Reuters) - Investors in U.S.-based mutual funds pulled $2.3 billion out of bond funds in the week ended Aug. 19 on continued expectations for a Federal Reserve interest rate hike, data from...
  
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• Greek privatisations to go ahead: outgoing economy minister

  26-08-2015 18:17 via news.yahoo.com
  
  A major sell-off of Greek public assets promised as part of its huge international bailout will go ahead as planned, the outgoing economy minister vowed Wednesday, despite looming snap elections. "The agreed arrangements have been agreed and will be applied," Georges Stathakis told reporters in answer to a question on the planned privatisation of Piraeus port, the national railway company and a string of other ports and airports. Prime Minister Alexis Tsipras resigned last week after his accepta
  
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• Alternative funds show mixed results over past month

  26-08-2015 18:15
  
  (Reuters) - Alternative funds, which investment companies have long pitched to be the solution for clients during volatile markets, have seen mixed returns during the past month's stock market...
  
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• Global stock markets diverge, commodities fall as China jitters persist

  26-08-2015 18:13 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - Wall Street advanced while European shares and commodities fell on Wednesday as investors balanced strong U.S. economic data with fears about China's slowing economy. China's key share indexes ended down after attempts to move higher were slapped back by waves of selling several times, reflecting hopes for more government and central bank support.
  
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• Strong capital spending plans boost growth outlook

  26-08-2015 18:09 via news.yahoo.com
  
  A gauge of U.S. business investment plans recorded its largest increase in just over a year in July, suggesting the United States was in good shape to withstand growing strains in the global economy. The Commerce Department said on Wednesday non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, increased 2.2 percent last month, the biggest rise since June last year. July's increase in the so-called core capital goods orders was on top of an upw
  
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• Market turmoil makes September rate hike 'less compelling': Fed's Dudley

  26-08-2015 18:01 via news.yahoo.com
  
  An interest rate hike next month seems less appropriate given the threat posed to the U.S. economy by recent global market turmoil, an influential Federal Reserve official said on Wednesday. In the clearest indication yet that fears of a Chinese economic slowdown could influence U.S. monetary policy, New York Fed President William Dudley said the prospects of a September rate hike "seems less compelling" than it was only weeks ago. Dudley, a dovish policymaker and close ally of Fed Chair Janet Y
  
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• Wall Street up on data, may end six-day losing streak

  26-08-2015 17:30 via news.yahoo.com
  
  (Reuters) - U.S. stocks rose in morning trading on Wednesday, helped by stronger-than-expected durable goods data, raising hopes that Wall Street will snap its six-day losing streak.
  
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• Wall Street up on data, may end 6-day losing streak

  26-08-2015 17:26 via news.yahoo.com
  
  U.S. stocks rose in morning trading on Wednesday, helped by stronger-than-expected durable goods data, raising hopes that Wall Street will snap its six-day losing streak. Although stocks were off their highs by late morning, all 10 major S&P 500 sectors were up, led by the technology index's 2.6 percent gain.
  
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• Fed 'a long way from' new round of QE: Dudley

  26-08-2015 17:19 via news.yahoo.com
  
  NEW YORK (Reuters) - New York Federal Reserve President William Dudley on Wednesday said the U.S. central bank is "a long way from" engaging in additional quantitative easing to prop up the economy.
  
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• September rate hike 'less compelling': Fed's Dudley

  26-08-2015 17:16 via news.yahoo.com
  
  A top Federal Reserve official said Wednesday that the economic turmoil in China has eroded the argument for raising interest rates in September. The need to begin normalizing monetary policy next month "seems less compelling to me than just a few weeks ago," said William Dudley, head of the Fed's New York branch and a voting member of the rate-setting Federal Open Market Committee. "The slowdown in China could lead... to a slower global growth rate and less demand for the US economy," he said.
  
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• Turmoil makes September rate hike 'less compelling': Fed's Dudley

  26-08-2015 17:03 via news.yahoo.com
  
  A Federal Reserve interest rate hike next month seems less appropriate given the recent global market turmoil has increased the risks to the U.S. economy, an influential Fed official said on Wednesday. New York Fed President William Dudley said the prospects of a September rate hike "seems less compelling to me than it was a few weeks ago." Addressing the market selloff, which was set off by fears that China's economy is slowing, Dudley said he wanted to see more U.S. economic data before making
  
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• US open: Dow surges 300 points on fresh China stimulus

  26-08-2015 16:57 via news.yahoo.com
  
  (ShareCast News) - US stocks soared early on Wednesday, as Wall Street was buoyed by China's decision to introduce new stimulus measures.
  
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• Wall Street opens higher but China jitters persist

  26-08-2015 16:35 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - Wall Street opened higher and European shares cut their losses on Wednesday as investors tried to shake off fears about China's slowing economy. China's key share indexes had attempted to move higher several times during Asian trading only to be slapped back by waves of selling, reflecting investors' views that much more support was needed from the government and the central bank. "The root of this is concern that growth in China may be a lot lower than what
  
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• Wall Street opens sharply higher following goods data

  26-08-2015 16:07 via news.yahoo.com
  
  Apple rose 4 percent to give the biggest boost to the S&P and the Nasdaq. Adding to the positive tone on Wednesday, a European Central Bank official indicated that the ECB could provide further monetary support should falling commodity prices put the bank's inflation target at increased risk. The stronger durable goods data improved the case for a U.S. interest rate increase in September.
  
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• Fed's Dudley, mum on market turmoil, talks regional U.S. economy

  26-08-2015 16:05 via news.yahoo.com
  
  An influential Federal Reserve official did not comment on monetary policy or the U.S. economy, according to text of a speech on Wednesday that addressed the economic recovery in his region of the country. New York Fed President William Dudley said that while "pockets of weakness remain" in New York, Connecticut, northern New Jersey and Puerto Rico, many parts of his home region have "bounced back quite well" from the recession. Dudley, a dovish policymaker and close ally of Fed Chair Janet Yell
  
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