Finance news

• U.S.-based energy stock funds attract $829 mln over week: Lipper

  04-12-2014 23:51
  NEW YORK (Reuters) - Investors in U.S.-based funds committed $829 million to funds that specialize in energy stocks in the week ended Dec. 3 on bargain-hunting after a plunge in oil prices dragged...
  
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• UPDATE 1-U.S.-based energy stock funds attract $829 mln over week - Lipper

  04-12-2014 23:47
  (Adds analyst quotes, additional flows, market performance, table) By Sam Forgione NEW YORK, Dec 4 (Reuters) - Investors in U.S.-based funds committed $829 million to funds that specialize in energy...
  
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• TSX tumbles 284 points as investors bail out of banks, energy

  04-12-2014 23:26 via news.yahoo.com
  
  The Toronto stock market tumbled nearly two per cent in a broad sell-off that hit financial and energy stocks particularly hard.
  
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• UPDATE 1-Uber in talks to sell over $1 bln in convertible debt-source

  04-12-2014 23:25
  Dec 4 (Reuters) - Uber is in talks to sell more than $1 billion in convertible debt, a source familiar with the matter said, soon after the U.S. taxi service said it raised $1.2 billion in its latest...
  
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• ECB moving half the distance to QE but never arriving: James Saft

  04-12-2014 23:16
  
  (Reuters) - A liquidity trap and a realistic threat of both recession and deflation: if the euro zone were any other major economy, official buying of government bonds would have started some time...
  
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• Most hedge fund clients look to shift some money: Goldman poll

  04-12-2014 23:15
  BOSTON (Reuters) - Most hedge fund investors polled by Goldman Sachs plan to pull some cash from their current managers in the coming months, with the majority citing poor performance as the reason,...
  
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• CANADA FX DEBT-C$ slips as focus turns to jobs reports

  04-12-2014 23:15
  (Updates to market close, adds fresh comment) * Canadian dollar at C$1.1375 or 87.91 U.S. cents * Bond prices higher across the curve By Solarina Ho TORONTO, Dec 4 (Reuters) - The Canadian dollar...
  
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• Vectors of engagement in the click-free digital economy

  04-12-2014 23:14 via news.yahoo.com
  
  The "click" is mortally wounded as an effective measure of engagement in the digital economy...
  
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• U.S.-based energy stock funds attract $829 million over week: Lipper

  04-12-2014 23:13
  NEW YORK (Reuters) - Investors in U.S.-based funds committed $829 million to funds that specialize in energy stocks in the week ended Dec. 3, marking their second straight week of inflows, data from...
  
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• After pulling billions, former Pimco investors may not be better off

  04-12-2014 23:13
  
  NEW YORK (Reuters) - When Bill Gross bolted Pimco in late September after months of mediocre performance in his Total Return Fund, clients including Wells Fargo & Co. WFC.N and Charles Schwab Corp...
  
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• COLUMN-ECB moving half the distance to QE but never arriving: James Saft

  04-12-2014 23:08
  (James Saft is a Reuters columnist. The opinions expressed are his own)
  
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• Who can help reduce the high cost of violence against women?

  04-12-2014 22:53 via news.yahoo.com
  
  By Maria Caspani WASHINGTON (Thomson Reuters Foundation) - The huge negative impact of violence against women and girls on the global economy gives international financial institutions a unique role to play in ending it, a new guide on the issue said. The cost of violence against women amounts to at least 5 percent of the global gross domestic product (GDP), according to a recent study by the Copenhagen Consensus Center. "Development organizations, financial institutions and increasingly the pri
  
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• Hawaiian Electric and Taser are big market movers

  04-12-2014 22:35 via news.yahoo.com
  
  Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Hawaiian Electric Industries Inc., up $4.03 to $32.22 The electrical utility ...
  
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• Wall Street ends with slight losses, energy weighs again

  04-12-2014 22:33 via news.yahoo.com
  
  U.S. stocks ended slightly lower on Thursday after European Central Bank President Mario Draghi brushed off pressure for more immediate monetary policy action but said the issue would be addressed early ...
  
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• SEC's Stein says Bank of America waiver policy is 'breakthrough'

  04-12-2014 22:24
  
  WASHINGTON (Reuters) - A top U.S. regulator praised the structure of a regulatory waiver granted last month to Bank of America Corp, saying the tougher conditions imposed on the bank may help deter...
  
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• Stocks slip on ECB stimulus speculation

  04-12-2014 22:24 via news.yahoo.com
  
  NEW YORK (AP) — The stock market posted slight losses Thursday after European Central Bank officials decided to delay any stimulus for the struggling continent until next year. Investors also braced for the release of Friday's closely watched U.S. jobs report.
  
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• Canada approves Burger King's bid for Tim Hortons

  04-12-2014 22:16
  
  OTTAWA (Reuters) - Canada's government on Thursday approved Burger King Worldwide's C$12.64 billion ($11.10 billion) takeover of coffee-and-doughnut chain Tim Hortons Inc , which will create a new...
  
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• WRAPUP 2-TD Bank, CIBC shares fall after posting soft results

  04-12-2014 22:15
  TORONTO, Dec 4 (Reuters) - Shares of Toronto-Dominion Bank and Canadian Imperial Bank of Commerce slid on Thursday after posting soft results in what is shaping up to be a disappointing...
  
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• Wall Street ends down as ECB adds to uncertainty

  04-12-2014 22:03 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks ended lower on Thursday after European Central Bank President Mario Draghi brushed off pressure for more immediate monetary policy action, but equities ended off their lows as he said the issue would be addressed early next year.
  
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• Brazil's Levy aims for fiscal credibility with new estimates

  04-12-2014 21:54 via news.yahoo.com
  
  By Anthony Boadle and Alonso Soto BRASILIA (Reuters) - The Brazilian government aims to bolster its fiscal credibility using more moderate economic growth estimates to set future savings goals, a government official briefed on the decision told Reuters on Thursday. President Dilma Rousseff's government used estimates from private economists to set its primary surplus goals for the next three years, according to the new 2015 federal budget guidelines. It slashed its 2015 growth estimate to 0
  
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• Pope's financial czar: Vatican has millions extra

  04-12-2014 21:28 via news.yahoo.com
  
  VATICAN CITY (AP) — The Vatican's economy czar says the Holy See's finances are in better shape than he thought, revealing that hundreds of millions of euros were kept off the balance sheet and that reforms are forging ahead to make the Vatican "boringly successful."
  
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• UPDATE 1-Enbridge shares surge on restructuring, dividend hike

  04-12-2014 20:40
  VANCOUVER, Dec 4 (Reuters) - Shares of Enbridge Inc surged more than 12 percent to a record high on Thursday, a day after the company outlined plans to transfer ownership of its Canadian pipelines to...
  
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• Afghan President Ghani promises to appoint cabinet in two-four weeks

  04-12-2014 20:29 via news.yahoo.com
  
  LONDON (Reuters) - Afghan President Ashraf Ghani said on Thursday he would have a cabinet in place within a month, promising to end a delay that officials and businesses have complained is hurting the economy. "We intend to form a cabinet within 2 to 4 weeks of returning," Ghani said at a London conference on the future of Afghanistan. "We are determined to bring people of competence, commitment, integrity and transparency to lead the program of the government," he said. (Reporting by Kylie MacL
  
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• Canada's Harper confident of budget balance despite cheap oil

  04-12-2014 19:51 via news.yahoo.com
  
  OTTAWA (Reuters) - The sharp decline in oil prices should not prevent Canada's Conservative government from balancing its budget next fiscal year, Prime Minister Stephen Harper said on Thursday. He noted that the federal government does not get direct royalties from oil companies, though it does receive corporate taxes; and he said Finance Minister Joe Oliver had provided for cheap oil in the fall economic and fiscal update he presented on Nov. 12. ...
  
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• Vale base metals IPO could prove to be a Bay Street bonanza

  04-12-2014 19:46
  TORONTO (Reuters) - Brazilian mining giant Vale's plan to sell a stake in its base metals unit through a Toronto Stock Exchange listing could lead to the biggest IPO in Canadian history and a...
  
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• Wall Street flat, on tenterhooks over ECB action

  04-12-2014 19:35 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks were little changed on Thursday, bouncing from initial losses after European Central Bank President Mario Draghi brushed off pressure for more immediate monetary policy action, saying the issue would be addressed early next year.
  
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• UPDATE 1-Cerberus-owned Deb Shops files for bankruptcy

  04-12-2014 19:30
  Dec 5 (Reuters) - The Deb Shops retail chain filed its
  second bankruptcy in less than four years on Thursday and said
  it may conduct a going-out-of-business sale at its 295 stores
  that specialize in...
  
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• Euro jumps, bonds sag as ECB puts off stimulus decision

  04-12-2014 19:16 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - The euro rebounded and bond yields in the euro zone bounced off record lows on Thursday, after the European Central Bank put off until next year a decision about whether to increase economic stimulus, leaving investors uncertain. The ECB's Governing Council was unanimous in its willingness to launch measures such as a government bond buying program with new money if necessary to help revive the euro zone economy. Markets had hoped for clearer details on
  
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• New York Life to enter ETF market with acquisition of IndexIQ

  04-12-2014 19:09
  NEW YORK (Reuters) - New York Life Insurance Co is jumping into the nearly $2 trillion U.S. exchange-traded funds market with its plan to acquire ETF provider IndexIQ.
  
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• Dollar tops 120 yen to strike 7-year high

  04-12-2014 19:03 via news.yahoo.com
  
  The dollar rose Thursday above 120 yen for the first time in more than seven years, boosted by US economic optimism while Japanese stimulus weighed heavily on the yen. At about 1420 GMT, the US currency climbed to 120.17 yen, its highest level since July 26, 2007, before easing back to stand at 119.90 yen. "It’s unsurprising ... that the dollar has breached the 120 mark against the yen today," Spreadex trader Connor Campbell told AFP. "Bar a few wobbles, like an oil-inspired dip
  
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• ECB puts off stimulus decision amid oil slump

  04-12-2014 19:01 via news.yahoo.com
  
  FRANKFURT, Germany (AP) — The European Central Bank is getting ready to offer more stimulus for the struggling eurozone economy — but expects to make a decision only early next year after it assesses the impact of sharply lower oil prices, President Mario Draghi said Thursday.
  
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• UK budget plan could change state beyond recognition - think tank

  04-12-2014 18:55 via news.yahoo.com
  
  By William Schomberg LONDON (Reuters) - Britain's public sector could "change beyond all recognition" by the end of the decade as a result of deep spending cuts planned by Chancellor George Osborne for after May's election, a leading economic think tank said on Thursday. Analysing the scale of a spending squeeze outlined by Osborne on Wednesday, the Institute for Fiscal Studies said cuts to public services could be deeper than the spending reductions carried out so far in his
  
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• ICAP combines forex, fixed income trading platform units

  04-12-2014 18:53
  Dec 4 (Reuters) - ICAP Plc, the world's largest interdealer broker, said it would combine its foreign exchange trading platform EBS and fixed income trading platform BrokerTec.
  
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• UPDATE 1-Speaker Boehner says House will have 'leverage' on Obama and immigration

  04-12-2014 18:53
  WASHINGTON, Dec 4 (Reuters) - Ignoring objections from some conservative Republicans, U.S. House Speaker John Boehner on Thursday vowed to plow ahead with a spending bill that avoids a government...
  
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• UPDATE 1-U.S. says legislation needed to end stewardship of mortgage firms

  04-12-2014 18:50
  WASHINGTON, Dec 4 (Reuters) - The Obama administration said on Thursday it would be irresponsible to end government stewardship of the country's biggest mortgage finance firms without legislation...
  
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• Draghi says will not allow dissenters to block possible ECB action

  04-12-2014 18:41 via news.yahoo.com
  
  By John O'Donnell and Reinhard Becker FRANKFURT/BERLIN (Reuters) - The European Central Bank will decide early next year whether to take further action to revive the euro zone's economy, its president said on Thursday, signalling that he would not allow opposition from Germany or anyone else to stop it. In his clearest language yet, Mario Draghi underlined the central bank's commitment to supporting the ailing economy of the 18-country bloc, and argued the case for printing fresh
  
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• Europe shares fall as ECB sticks to QE decision next year

  04-12-2014 18:40
  PARIS, Dec 4 (Reuters) - European shares sank on Thursday after the European Central Bank stuck to its line that it will decide early next year whether further measures are needed to boost the euro...
  
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• UPDATE 4-Draghi says will not allow dissenters to block possible ECB action

  04-12-2014 18:39
  * ECB chief: will consider QE money-printing in early 2015
  
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• Argentina clamps down on credit to farms accused of hoarding soy

  04-12-2014 18:32
  BUENOS AIRES, Dec 4 (Reuters) - Argentina's state bank has moved to bolster the country's reserves by reducing credit to soy farmers holding onto an estimated 8 million tonnes of last year's beans as...
  
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• Bankia presented flawed accounts for IPO year: report

  04-12-2014 18:27 via news.yahoo.com
  
  By Jesús Aguado and Sarah White MADRID (Reuters) - Spain's Bankia presented a series of error-strewn accounts for 2011, the year it listed shares, according to a report released on Thursday as part of a long-running court investigation into its flotation and state bailout. Hundreds of thousands of small investors lost money after Bankia needed a massive rescue in 2012, less than a year after the lender's mid-2011 stock market listing. Some have alleged they were cheated when they boug
  
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• UK's FTSE falls as commodity stocks drop and ECB disappoints

  04-12-2014 18:13
  * European equities fall on disappointment with ECB (Updates with closing prices, adds trader comments)
  
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• Legislation needed to end conservatorship of U.S. mortgage finance firms -Treasury

  04-12-2014 18:05
  WASHINGTON, Dec 4 (Reuters) - The Obama administration said on Thursday it would be irresponsible to end government stewardship of the country's biggest mortgage finance firms without legislation...
  
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• UPDATE 1-GlaxoSmithKline abandons sale of older drugs

  04-12-2014 18:03
  LONDON, Dec 4 (Reuters) - GlaxoSmithKline said on Thursday it had decided not to sell a portfolio of older drugs marketed in North America and Europe after considering offers from potential...
  
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• US stocks slip after ECB decision, Draghi comments

  04-12-2014 18:03 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks are lower in midday trading after Europe's central bank indicated that it won't act to stimulate the region's economy.
  
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• Speaker Boehner says House will have 'leverage' on Obama and immigration

  04-12-2014 18:00
  WASHINGTON, Dec 4 (Reuters) - U.S. House Speaker John Boehner on Thursday said the House will act to fund the federal government next week and avoid a shutdown while still maintaining "leverage" over...
  
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• UPDATE 1-Qatar fund and partner raise offer for Canary Wharf-owner Songbird

  04-12-2014 17:56
  LONDON, Dec 4(Reuters) - Qatar's sovereign wealth fund and a North American investor have upped their joint bid for Songbird Estates, the owner of London's Canary Wharf financial district, with an...
  
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• Putin speech offers few reforms for economic woes

  04-12-2014 17:55 via news.yahoo.com
  
  MOSCOW (AP) — Russia will defend its geopolitical interests, President Vladimir Putin warned Thursday as he promised economic reforms to pull his country back from the brink of recession. But Putin's patriotic bluster and vague promises did little to assuage real fears that Western sanctions, plummeting oil prices and a collapsing ruble are crippling Russia's economy.
  
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• UPDATE 2-Gildan forecasts loss as it cuts prices in printwear business

  04-12-2014 17:45
  * Expects 2015 profit of $3.00-$3.15/share vs $2.94 last year
  
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• Italian Post extends savings management pact with state lender CDP

  04-12-2014 17:43
  ROME, Dec 4 (Reuters) - Italy's Poste Italiane has extended from three to five years a deal under which state lender Cassa Depositi e Prestiti (CDP) manages postal savings, securing an important...
  
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• Cerberus-owned Deb Shops files for bankruptcy

  04-12-2014 17:43
  (Reuters) - The owner of the Deb Shops retail chain filed
  its second bankruptcy in less than four years on Thursday,
  blaming outdated stores and competition in the teen and young
  women's fashion...
  
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