Finance news

• UPDATE 1-U.S. Treasury nominee Weiss withdraws from consideration-White House

  12-01-2015 23:58
  WASHINGTON, Jan 12 (Reuters) - Antonio Weiss, an investment banker who was a controversial nominee for a top post at the U.S. Treasury Department, has decided to withdraw from consideration, the...
  
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• Dollar Tree expects to shed less than 300 stores to buy Family Dollar

  12-01-2015 23:52
  
  (Reuters) - Discount chain Dollar Tree Inc said it expects to divest fewer than 300 stores to satisfy U.S. regulators scrutinizing its proposed takeover of Family Dollar Stores Inc , and had already...
  
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• Obama Treasury choice withdraws; faced Democratic opposition

  12-01-2015 23:37 via news.yahoo.com
  
  WASHINGTON (AP) — A Wall Street banker nominated by President Barack Obama to be the third-ranking official at the Treasury Department has pulled out of contention for the post in the face of Democratic opposition.
  
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• Yamana Gold to raise nearly C$300 million to cut debt

  12-01-2015 23:35
  Jan 12 (Reuters) - Yamana Gold Inc said on Monday it entered into an agreement with bankers to raise up to C$299.3 million ($249.73 million) in a "bought" share issue deal to reduce debt and...
  
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• Obama threatens veto of Republican bill to delay Volcker rule

  12-01-2015 23:28
  WASHINGTON, Jan 12 (Reuters) - The White House threatened on Monday to veto Republican-backed legislation under consideration in the U.S. House of Representatives that would scale back financial...
  
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• Treasury nominee Weiss withdraws from consideration -White House

  12-01-2015 23:22
  WASHINGTON, Jan 12 (Reuters) - Antonio Weiss, an investment banker who was a controversial nominee for a top position at the U.S. Treasury Department, has decided to withdraw from consideration, the...
  
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• How the Dow Jones industrials fared on Monday

  12-01-2015 22:57 via news.yahoo.com
  
  Energy companies led a decline on the stock market as crude oil continues to tumble. The price of oil dropped another 5 percent Monday to $46 a barrel. That's far below its recent peak of more than $100 ...
  
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• Fiat Chrysler wants to collaborate with others on new vehicles: CEO

  12-01-2015 22:39 via news.yahoo.com
  
  DETROIT (Reuters) - Fiat Chrysler Automobiles Chief Executive Sergio Marchionne said his company is in talks with other automakers to share the costs of developing new vehicles and technology, particularly to cut greenhouse gas emissions, and called on the United States to ease fuel economy targets for 2025.
  
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• Slump in oil weighs on equities in volatile session

  12-01-2015 22:23 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - Most stock markets around the world fell on Monday as oil prices showed no sign of breaking their prolonged downward spiral, prompting further losses in beleaguered energy shares. Losses were broad in the U.S. equity market, with nine of the 10 primary S&P 500 sectors ending lower. Energy was by far the weakest group, off 2.8 percent. The sector is now down more than 25 percent from a high reached in July. U.S. crude futures slumped 5.2 percent to $45.
  
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• Exclusive: Hedge fund Mason Capital ends 2014 down 12 percent - source

  12-01-2015 22:16
  BOSTON (Reuters) - Hedge fund Mason Capital lost 12 percent in 2014, making for one of the industry's biggest declines, after the New York-based firm was hit by a failed merger of pharmaceuticals...
  
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• Energy sector leads a decline in US stocks as oil falls

  12-01-2015 22:09 via news.yahoo.com
  
  Energy companies are leading a decline on the stock market as crude oil continues to tumble. The price of oil dropped another 5 percent Monday to $46 a barrel. That's far below its recent peak of more ...
  
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• Airline's collapse a new blow to recession-hit Cyprus

  12-01-2015 21:54 via news.yahoo.com
  
  The collapse of Cyprus Airways nearly two years after a financial earthquake shattered the economy has dealt a new blow to the recession-hit Mediterranean island, experts said Monday. Cyprus is facing record unemployment of around 16 percent, according to economists who say the situation will only worsen as the national carrier's 560 staff are laid off. On Friday the government announced an immediate halt to Cyprus Airways's flights, after European Union regulators ordered it to recove
  
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• Increase economic mobility by busting college myths

  12-01-2015 21:46
  LOS ANGELES (Reuters) - One way to improve economic mobility in the United States may be to fix the misconceptions that high-achieving, low-income teenagers often have about college.
  
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• Portugal Telecom shareholders postpone vote on asset sale

  12-01-2015 21:27
  
  LISBON (Reuters) - Portugal Telecom SGPS shareholders on Monday postponed until Jan. 22 a vote on the sale of its former operations by its merger partner, Brazil's Oi , complicating the 7.4 billion...
  
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• Obama's upbeat economy message a shift from last year's tone

  12-01-2015 21:21 via news.yahoo.com
  
  WASHINGTON (AP) — A year ago, in a high-profile address, President Barack Obama offered a somber assessment of what ailed the middle class. The economy was not working for everyone, he said, and many Americans had a nagging sense that the deck was stacked against them.
  
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• UPDATE 3-Portugal Telecom shareholders postpone vote on asset sale

  12-01-2015 21:18
  LISBON, Jan 12 (Reuters) - Portugal Telecom SGPS shareholders on Monday postponed until Jan. 22 a vote on the sale of its former operations by its merger partner, Brazil's Oi , complicating the 7.4...
  
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• Oil tumbles 5 percent to new low on Goldman price forecast cut

  12-01-2015 20:41 via news.yahoo.com
  
  NEW YORK (Reuters) - Oil prices slumped more than 5 percent on Monday after an influential Wall Street bank cut its forecasts and Gulf producers showed no sign of being willing to curb output.
  
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• Oil tumbles 5 pct to new low on Goldman price forecast cut

  12-01-2015 20:39 via news.yahoo.com
  
  By Samantha Sunne NEW YORK (Reuters) - Oil prices slumped more than 5 percent on Monday after an influential Wall Street bank cut its forecasts and Gulf producers showed no sign of being willing to curb output. Brent was down $2.36 to $47.75 a barrel by 1:44 p.m. EST (1644 GMT), after dropping to $47.16, its lowest since April 2009. U.S. crude was down $2.07 at $46.30 after earlier hitting $45.90, also near a six-year low. Three days of relative price stability ended abruptly after Goldman Sachs
  
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• Slump in oil drives down equities around the world

  12-01-2015 20:27 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - Stock markets around the world mostly fell on Monday as oil prices showed no sign of breaking their prolonged downward spiral, prompting further losses in beleaguered energy shares. Losses were broad in the U.S. equity market, with eight of the 10 primary S&P 500 sectors down. Energy was by far the weakest group, off 2.7 percent. The sector is now down more than 25 percent from a high reached in July. U.S. crude futures slumped 4.1 percent to $46.39 pe
  
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• Gross says Pimco fired him after proposing smaller role: Bloomberg

  12-01-2015 19:58
  
  NEW YORK (Reuters) - Bill Gross has acknowledged publicly for the first time that he was fired from Pacific Investment Management Co, the firm he co-founded in 1971, largely confirming news reports...
  
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• Low U.S. bond yields reflect global flight to safety: Lockhart

  12-01-2015 19:38 via news.yahoo.com
  
  ATLANTA (Reuters) - Low U.S. bond yields are a sign of the American economy's relative strength compared to other major industrial economies, and reflect a global flight to safety, Atlanta Federal Reserve Bank President Dennis Lockhart said on Monday.
  
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• Oil slumps to nearly 6-year low; QE speculation supports European stocks

  12-01-2015 19:37 via news.yahoo.com
  
  Oil prices slumped Monday to nearly 6-year lows under $48 per barrel, hurting the energy sector, but eurozone stock markets pushed higher on stimulus hopes. US benchmark West Texas Intermediate (WTI) for February hit a similar trough at $45.90 a barrel. The latest heavy falls came after US investment bank Goldman Sachs cut its price outlook as a glut in global crude supply persists. "Oil was once more the recipient of dismal data as Goldman Sachs downgraded its forecasts for the commodity,
  
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• Prestige Cruises withdraws IPO plan

  12-01-2015 19:16
  (Reuters) - Prestige Cruises International Inc, which was bought by Norwegian Cruise Line Holdings Ltd in a $3 billion deal in September, filed with U.S. regulators to withdraw its plan for an...
  
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• UPDATE 2-Tiffany cuts profit forecast as holiday shopping disappoints

  12-01-2015 19:09
  Jan 12 (Reuters) - Upscale jeweler Tiffany & Co cut its profit forecast for the full year, citing a disappointing holiday shopping season and further weakness in Japan.
  
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• Roche in $1 billion-plus Foundation Medicine deal to boost cancer efforts

  12-01-2015 19:00
  
  ZURICH/LOS ANGELES (Reuters) - Roche Holding will acquire a majority stake in molecular and genomic analysis business Foundation Medicine, it said on Monday, signaling its determination to expand in...
  
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• Oasis Petroleum 'happy' to have SPO as largest shareholder: CEO

  12-01-2015 18:58
  WILLISTON, N.D. (Reuters) - North Dakota oil producer Oasis Petroleum welcomes having hedge fund SPO Partners & Co as its largest shareholder, Chief Executive Tommy Nusz said in an interview on...
  
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• 3 Key Factors for a Successful Landing Page (Hint: It’s All About Symmetry)

  12-01-2015 18:55 via news.yahoo.com
  
  Google hasn’t thrown in the towel on Google Glass if this Wall Street Journal report is to be believed. Reportedly, Google is hard at work at the next version of Glass and has ditched Texas Instruments in favor of Intel… * That isn’t what you expected, right? I guessed so. Same as your visitors, who might […]
  
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• UPDATE 3-SAP profit holds up in fourth quarter as cloud shift accelerates

  12-01-2015 18:49
  * Q4 op profit up 1 pct, broadly in line with Reuters poll avg
  
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• Paris tourism launches 'open for business' campaign after shootings

  12-01-2015 18:44 via news.yahoo.com
  
  By Andrew Callus PARIS (Reuters) - Representatives of the Paris tourist industry will set off on a world tour next month to reassure visitors and agents that the French capital is safe and open for business after last week's fatal shootings by Islamist militants. France, which is struggling to get economic growth going, is the most visited country in the world. Almost 85 million foreigners a year support a 150 billion euro ($177 billion) industry that delivers 7 percent of the nation's GDP, acco
  
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• UPDATE 1-Hedge funds push for Caesars bankruptcy, seek examiner

  12-01-2015 18:37
  Jan 12 (Reuters) - A group of hedge fund creditors of
  Caesars Entertainment Corp sought on Monday to force its
  main operating unit into bankruptcy and to appoint an
  independent examiner to...
  
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• Fed's Lockhart sees strong U.S. growth, rate hike in mid-2015

  12-01-2015 18:31 via news.yahoo.com
  
  ATLANTA (Reuters) - The U.S. economy is motoring ahead in its recovery, likely putting the Federal Reserve in position to raise interest rates by the middle of the year, Atlanta Fed President Dennis Lockhart said on Monday.
  
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• U.S. sells T-bills at lowest rates in six weeks

  12-01-2015 18:13
  NEW YORK (Reuters) - The U.S. Treasury Department on Monday paid investors the lowest interest rates on new three- and six-month bills in six weeks due to safe-haven demand for low-risk cash-like...
  
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• Soros bought into Santander share sale, raising bet on Spain

  12-01-2015 18:12
  
  MADRID (Reuters) - George Soros bought into a fundraising by Santander last week, a source familiar with the matter said on Monday, in the latest bet by the U.S. billionaire on Spanish banks and...
  
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• US stocks open lower; crude oil price falls again

  12-01-2015 17:59 via news.yahoo.com
  
  NEW YORK (AP) — Energy companies are leading a decline on the stock market as crude oil continues to tumble.
  
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• Global stocks fall as oil continues slide

  12-01-2015 17:55 via news.yahoo.com
  
  NEW YORK (Reuters) - Stock markets around the world mostly fell on Monday as oil prices showed no sign of escaping their downward spiral, prompting further losses in the beleaguered energy sector.
  
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• UPDATE 2-Dubai World gets majority creditor backing for $14.6 bln debt deal

  12-01-2015 17:43
  * DW has "substantial majority" backing new debt deal -
  statement
  
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• U.S. exchanges consider running 'dark pools' for banks

  12-01-2015 17:42
  
  (Reuters) - At least two U.S. exchanges have been in talks with big banks about possibly taking over the operation of the banks' private, off-exchange trading venues, or "dark pools," which are...
  
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• Elon Musk Says He’s A ‘Nano-Manager’ Who’s Obsessive-Compulsive About Product

  12-01-2015 17:41 via news.yahoo.com
  
  Reuters/Lucy NicholsonElon Musk. Elon Musk just gave himself a new title.  Speaking with the Wall Street Journal, Musk described himself as a “nano-manager.”  It’s a wonderfully scientific descriptor for his management style. While other leaders might have a reputation as  micro-managers, Musk said he’s a  nano-manager. In scientific pursuits, micro- means a thousandth of something, while  nano- means a billionth. In essence, Musk is saying that he’s exponentially more hands-on
  
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• UPDATE 2-SanDisk's memory chip sales weak, shares fall

  12-01-2015 17:38
  Jan 12 (Reuters) - SanDisk Corp said it expects fourth-quarter revenue to be lower than its forecast, citing weaker-than-expected sales of retail products and flash memory storage chips.
  
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• CORRECTED-UPDATE 1-AbbVie wins U.S. approval for Parkinson's treatment

  12-01-2015 17:18
  Jan 12 (Reuters) - The U.S. Food and Drug Administration approved AbbVie Inc's treatment for Parkinson's disease.
  
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• Wall Street falls as oil prices drag

  12-01-2015 17:17 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks lost ground on Monday, extending a two-week decline for equities, as weakness in oil prices weighed on the energy sector ahead of the start of corporate earnings season. Oil prices continued their downward march and were a drag on equities. Brent was down more than 5 percent to $47.44 and U.S. crude down 4.6 percent at $46.13, as Goldman Sachs slashed its short-term price forecasts and Gulf producers showed no signs of curbing output. The S&a
  
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• US STOCKS-Wall Street falls as oil prices drag

  12-01-2015 17:14 via news.yahoo.com
  
  U.S. stocks lost ground on Monday, extending a two-week decline for equities, as weakness in oil prices weighed on the energy sector ahead of the start of corporate earnings season. Oil prices continued ...
  
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• UPDATE 1-Rabobank to reopen European CoCo market with Dutch first

  12-01-2015 17:04
  LONDON, Jan 12 (IFR) - Rabobank is set to test European
  investor appetite for deeply subordinated bank debt for the
  first time in months, having mandated lead managers for the
  country's inaugural...
  
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• European equity rebound fizzles out as oil extends slide

  12-01-2015 16:44 via news.yahoo.com
  
  European shares gave away early gains to trade flat late on Monday, led by oil stocks as crude prices extended their slide to fresh 5-1/2 year lows. The equity selloff, which started on Wall Street and ...
  
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• Oil slide fuels more gains in South Africa bonds

  12-01-2015 16:37 via news.yahoo.com
  
  JOHANNESBURG (Reuters) - South African government bonds kept up a New Year rally on Monday, with yields hitting 19-month lows as the sliding oil price dramatically changes inflation expectations in Africa's most advanced economy. The yield on the benchmark government paper due in 2026 was down 6.5 basis points at 7.585 percent in late trade after earlier hitting 7.535 percent, its lowest since June 2013, according to Thomson Reuters' data. The slide in oil prices showed no signs of let
  
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• Oil prices sink further, weighing on equities

  12-01-2015 16:35 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - Stock markets around the world fell on Monday as oil prices showed no sign of escaping their downward spiral, prompting further losses in the beleaguered energy sector. Losses were broad in the U.S. equity market, with eight of the 10 primary S&P 500 sectors down. Energy was by far the weakest group, off 3.1 percent, with the sector down more than 25 percent from a high reached in July. Oil continued its slide. U.S. crude futures slumped 4.1 percent to
  
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• FTSE underperforms European shares as oil and energy stocks fall

  12-01-2015 16:34 via news.yahoo.com
  
  By Alistair Smout LONDON (Reuters) - Britain's top share index fell on Monday, following Wall Street lower and underperforming continental European shares as heavily weighted oil and energy companies dropped. Brent oil fell below $49 a barrel following a cut in short-term forecasts by Goldman Sachs. After falling for seven weeks, oil prices are at their lowest since April 2009. The UK oil and gas index , which features major oil companies such as Royal Dutch Shell and BP , was down 2.7 perc
  
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• Britain's FTSE underperforms European shares as oil and energy stocks fall

  12-01-2015 16:23 via news.yahoo.com
  
  Britain's top share index fell on Monday, following Wall Street lower and underperforming continental European shares as heavily weighted oil and energy companies dropped. Brent oil fell below $49 a barrel ...
  
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• US stocks head lower; crude oil price falls again

  12-01-2015 16:15 via news.yahoo.com
  
  NEW YORK (AP) — Another drop in the price of oil is pulling the stock market lower on Monday. Exxon Mobil, Chevron, and other oil companies sank along with crude oil after Goldman Sachs slashed its forecast for oil prices for the next two years.
  
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• U.S. justices seek Obama administration views on Google-Oracle dispute

  12-01-2015 16:05
  WASHINGTON, Jan 12 (Reuters) - The Supreme Court on Monday asked the U.S. government to weigh in on whether the justices should hear a closely watched copyright dispute between Google Inc and Oracle...
  
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