Finance news

• U.S. senator says Pacific trade deal on 'two-month trajectory'

  13-01-2015 23:58 via news.yahoo.com
  
  WASHINGTON (Reuters) - The top U.S. trade official, Michael Froman, told lawmakers a major trade pact with Pacific Rim trading partners is "on a two-month trajectory," the No. 2 Republican in the U.S. Senate said on Tuesday, although the trade office said there was no set timeline for the deal. Negotiators hope to wind up talks this year on the Trans-Pacific Partnership, which would link 12 countries from the United States to Japan and New Zealand and cover nearly 40 percent of the wor
  
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• UPDATE 1-U.S. takes aim at North Korea's remaining financial links

  13-01-2015 23:52
  WASHINGTON, Jan 13 (Reuters) - The United States aims to use new sanctions imposed on North Korea over the cyber attack on Sony Pictures to cut off the country's remaining links to the international...
  
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• Tesla shares slump 7 pct on weak China sales

  13-01-2015 23:49
  Jan 13 (Reuters) - Tesla Motors Inc shares slumped late on Tuesday after Chief Executive Elon Musk said the electric luxury car maker's sales in China were "unexpectedly weak" during the fourth...
  
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• World Bank sees growth pick-up for developing countries

  13-01-2015 23:44 via news.yahoo.com
  
  The World Bank on Tuesday predicted a pick-up in economic growth for developing countries, spurred by falling oil prices and despite a slight slowdown in global engine China. Developing countries' growth in gross domestic product (GDP) -- the broad measure of a country's output of goods and services -- was expected to hit an annual pace of 4.8 percent in 2015, up from 4.4 percent last year, and surge to 5.3 percent in 2016, according to the bank's latest forecasts. "Following
  
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• Caesars wants legal shield when operating unit seeks bankruptcy

  13-01-2015 23:39
  Jan 13 (Reuters) - Caesars Entertainment Corp will seek to
  give itself the legal shield of bankruptcy once its operating
  unit files for Chapter 11 in the coming days, a lawyer for the
  company's...
  
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• UK's Osborne urges ECB to do "whatever it takes" to hit price target

  13-01-2015 23:30
  LONDON, Jan 13 (Reuters) - Britain urged the European Central Bank to take all necessary steps to fight off the risk of deflation, a week before ECB policymakers meet to discuss whether to embark on...
  
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• Former Xstrata CEO considering bid for Vale's nickel assets - Bloomberg

  13-01-2015 23:26
  (Reuters) - Former Xstrata Plc Chief Executive Mick Davis is considering a bid for Vale SA's nickel business, Bloomberg reported.
  
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• REFILE-UPDATE 1-Former Xstrata CEO considering bid for Vale's nickel assets - Bloomberg

  13-01-2015 23:25
  Jan 13 (Reuters) - Former Xstrata Plc Chief Executive Mick Davis is considering a bid for Vale SA's nickel business, Bloomberg reported.
  
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• UPDATE 1-Former Xstrata CEO considering bid for Vale's nickel assets - Bloomberg

  13-01-2015 23:18
  Jan 13 (Reuters) - Former Xstrata Plc Chief Executive Mick Davis is considering a bid for Vale SA's nickel business, the Bloomberg reported.
  
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• Air France-KLM says too early to detail cost cut plans

  13-01-2015 23:16 via news.yahoo.com
  
  PARIS (Reuters) - Air France-KLM SA said on Tuesday it was too early to detail further belt-tightening actions to cope with a tough economic climate as it denied a Le Figaro newspaper report that it planned around 5,000 job cuts. "The group denies information reported by Le Figaro," a group spokesman said. The Franco-Dutch airline in December issued its third profit warning in six months, trimming its 2014 forecast for earnings before interest, tax, depreciation and amortisation (EBITD
  
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• UPDATE 2-Obama seeks enhanced cybersecurity laws to fight hackers

  13-01-2015 23:13
  WASHINGTON, Jan 13 (Reuters) - President Barack Obama on Tuesday renewed a push to beef up U.S. cybersecurity laws after recent headline-grabbing hacking attacks against companies like Sony Pictures,...
  
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• S&P nearing $1 billion deal over U.S. fraud lawsuit -source

  13-01-2015 23:13
  WASHINGTON/NEW YORK, Jan 13 (Reuters) - Standard and Poor's is expected to pay just over $1 billion to settle lawsuits from the U.S. government and several states that had accused the McGraw Hill...
  
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• UPDATE 3-U.S. insurer MetLife to sue regulators over high-risk tag

  13-01-2015 23:11
  WASHINGTON, Jan 13 (Reuters) - MetLife Inc on Tuesday sued U.S. regulators over a decision to subject the insurer to tougher oversight because it harbors enough risk to endanger the financial system...
  
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• UPDATE 2-California seeks to suspend Ocwen's mortgage license

  13-01-2015 23:11
  Jan 13 (Reuters) - California is seeking to suspend Ocwen Financial Corp's license to operate in the state, saying the mortgage collection company failed to submit papers showing that it complies...
  
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• GameStop's December same-store sales up 4.4 pct

  13-01-2015 22:44
  Jan 13 (Reuters) - Video game retailer GameStop Corp said December comparable store sales rose 4.4 percent, driven by higher demand for games such as Call of Duty: Advanced Warfare, Grand Theft Auto...
  
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• Goodyear Tire and KB Home are big market movers

  13-01-2015 22:43 via news.yahoo.com
  
  Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE ChannelAdvisor Corp., down $11.32 to $9.83 The e-commerce technology company expects ...
  
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• Detroit schools get new emergency manager for old problems

  13-01-2015 22:42
  WASHINGTON, Jan 13 (Reuters) - Michigan Governor Rick Snyder
  appointed a new emergency manager to Detroit Public Schools on
  Tuesday, a fresh attempt at fixing budget problems that span
  nearly a...
  
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• Ukraine debt slide haunts contrarian U.S. bond fund star Hasenstab

  13-01-2015 22:35
  BOSTON (Reuters) - A slide in Ukraine bond prices continues to haunt U.S. bond fund star Michael Hasenstab, whose multibillion-dollar bet on the troubled country's debt is in turmoil as analysts...
  
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• Stocks end up-and-down day with small losses

  13-01-2015 22:20 via news.yahoo.com
  
  NEW YORK (AP) — The stock market is ending a see-saw day with small losses, as energy shares slip lower with the price of oil.
  
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• Oil weighs on U.S. stocks; ECB hopes boost Europe

  13-01-2015 22:16 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - The U.S. stock market closed lower for a third straight session on Tuesday, reversing earlier gains as continued weakness in oil spurred further selling in the energy sector, while the U.S. dollar rose on hopes for stimulus from the European Central Bank. The day's trade was volatile, with the S&P 500 moving between a gain of 1.4 percent and a drop of 1 percent. The benchmark index ended off its lows of the day, but eight of the 10 primary index i
  
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• Brazil tax hikes won't harm growth: finance minister

  13-01-2015 22:10 via news.yahoo.com
  
  Brasília (AFP) - Brazil's finance minister said Tuesday a program of targeted tax increases was designed with the intention to not harm fragile growth in Latin America's largest economy. "We have no intention of producing a bag of tricks or packages -- but we shall have to take some measures," Joaquim Levy told reporters as he sets about devising a strategy to lift an economy struggling after four years of low growth. Brazil is looking to rein in its public deficit running a
  
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• Pension fund to take over Quebec infrastructure projects

  13-01-2015 22:08
  
  MONTREAL (Reuters) - Canada's second-largest pension fund said on Tuesday it will finance, develop and operate major infrastructure projects for the cash-strapped province of Quebec under a deal the...
  
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• World Bank cuts 2015 forecast for global economy

  13-01-2015 22:04 via news.yahoo.com
  
  WASHINGTON (AP) — The World Bank, citing stagnation in Europe and Japan and a slowdown in China, downgraded its forecast for the global economy this year. It also reported that world economic growth came in below expectations in 2014.
  
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• UPDATE 2-Apple granted patent for GoPro-like wearable cameras

  13-01-2015 21:58
  Jan 13 (Reuters) - Apple Inc has been granted a patent for a wearable camera that could possibly challenge action cameras made by GoPro Inc.
  
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• Bank of Canada: cheap oil bad but effect not drastic

  13-01-2015 21:47 via news.yahoo.com
  
  By Brendan O'Brien MADISON, Wisconsin (Reuters) - The collapse in crude oil prices may delay the Canadian economy's return to its production potential but is unlikely to have a drastic effect on growth, Bank of Canada Deputy Governor Timothy Lane said on Tuesday. While he stopped short of saying crude's plunge could delay interest rates hikes, Lane made clear the central bank's view that cheap oil was bad for the economy despite mitigating factors. ...
  
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• Global stocks cut gains in volatile session as oil falls

  13-01-2015 21:46 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - Stock markets around the world edged higher on Tuesday on investor hopes for economic stimulus from the European Central Bank, though Wall Street turned negative as crude oil continued to fall. Oil hit a near six-year low as the United Arab Emirates defended OPEC's decision not to cut output and traders wondered when a six-month-long price rout might end. Brent crude sank 3.1 percent and U.S. crude lost 1.4 percent, extending Monday's 4.7 percent
  
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• Republicans press attacks on Obama agenda

  13-01-2015 20:42 via news.yahoo.com
  
  WASHINGTON (AP) — Defiant congressional Republicans attacked President Barack Obama's agenda from all sides Tuesday, ignoring his veto threats and pushing bills to uproot his policies on immigration and Wall Street, force approval of a long energy pipeline he opposes and make him justify any new federal rules before he makes them.
  
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• Bank of Canada says cheap oil poses threat to overall economy

  13-01-2015 20:39 via news.yahoo.com
  
  By Brendan O'Brien MADISON, Wisconsin (Reuters) - The hit on Canada's oil sector from the collapse in crude prices will bleed into the rest of the economy and may delay the country's return to its production potential, Bank of Canada Deputy Governor Timothy Lane said on Tuesday. He stopped short of saying crude's plunge could cause a delay in hiking interest rates. But Lane made clear the central bank's view that any gains from lower prices for consumers and the global economy would be more than
  
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• UPDATE 1-Apple granted patent for GoPro-like wearable cameras

  13-01-2015 20:08
  Jan 13 (Reuters) - Apple Inc has been granted a patent for a wearable camera that could possibly challenge action cameras made by GoPro Inc.
  
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• Stocks cut gains in volatile session as oil falls

  13-01-2015 20:07 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - Stock markets around the world edged higher on Tuesday on investor hopes for economic stimulus from the European Central Bank, though Wall Street turned negative as crude oil continued to fall. Oil hit a near six-year low as the United Arab Emirates defended OPEC's decision not to cut output and traders wondered when a six-month-long price rout might end. Brent crude sank 3.1 percent and U.S. crude lost 1.4 percent, extending Monday's 4.7 percent
  
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• Malaysian $20bn banking merger scrapped: report

  13-01-2015 19:43 via news.yahoo.com
  
  A planned merger of two Malaysian finance firms that would have created the country's biggest bank has been scrapped three months after it was announced due to concerns about the economy, Bloomberg News reported Tuesday. The financial newswire, citing unnamed sources with knowledge of negotiations, said it was decided that the 72.5 billion ringgit ($20.3 billion) union of CIMB Group and RHB Capital was now too risky. Concerns about the economic outlook are mounting in Malaysia, with falling
  
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• US, EU promise more aid for Ukraine if reforms continue

  13-01-2015 19:36 via news.yahoo.com
  
  BRUSSELS (AP) — The United States on Tuesday reinforced Western assistance for war-torn Ukraine by promising up to $2 billion in loan guarantees if that effort is matched by economic and political reforms in Kiev.
  
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• Wall Street gains after two-day drop; tech shares rise

  13-01-2015 19:23 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks rose on Tuesday after a two-day decline, helped by gains in technology shares. But the market was well off its highs for the session, with shares of homebuilders falling broadly after KB Home forecast a drop in gross margins for the first quarter. Homebuilder stocks had been up earlier in the session, but KB Home was last down 13.7 percent, while a housing index was down 0.9 percent. The S&P technology sector was among the day's
  
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• Apple granted patent for GoPro-like cameras - Patently Apple

  13-01-2015 19:08
  Jan 13 (Reuters) - Apple Inc has been granted a patent for a wearable camera that could possibly challenge action cameras made by GoPro Inc, intellectual property blog Patently Apple reported.
  
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• UPDATE 2-FDA seeks more safety data on Antares testosterone drug

  13-01-2015 19:03
  * Shares fall as much as 11 pct (Adds analyst comment, details)
  
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• Exclusive: Sale of Kuwait food company Americana falters - sources

  13-01-2015 18:56
  LONDON (Reuters) - The sale of Kuwaiti food company Americana is close to being put on hold, partly due to differences on price, three sources familiar with the matter said on Tuesday.
  
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• Chinese President to pay state visit to UK amid Hong Kong tensions

  13-01-2015 18:41 via news.yahoo.com
  
  By Andrew Osborn LONDON (Reuters) - Chinese President Xi Jinping will travel to Britain on a state visit later this year, a Foreign Office minister said on Tuesday, while fending off lawmakers' accusations that London was reluctant to confront Beijing over Hong Kong. A state visit usually includes a meeting with the Queen, a visit to parliament, and a meeting with the prime minister. It would reflect warming economic relations between China and Britain even though political tensions persist
  
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• Madagascar government resigns over blackouts, social woes

  13-01-2015 18:32 via news.yahoo.com
  
  By Lovasoa Rabary ANTANANARIVO (Reuters) - Madagascar's president has accepted the resignation of his prime minister and government amid mounting public frustration about regular power cuts and a failure to deliver on promised improvements to daily life. The large Indian Ocean island, famed for its wildlife and eyed by foreign firms for its minerals, has struggled to revive its economy since a coup in 2009 that drove away donors and plunged the nation into prolonged crisis. A peaceful 2013 elect
  
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• EU seeks support for investment fund to boost economy

  13-01-2015 18:22 via news.yahoo.com
  
  BRUSSELS (AP) — The top official behind a proposed 315 billion euro ($371 billion) European Union investment plan said Tuesday he wants member states to contribute more money to get the continent's flagging economy back on the upswing.
  
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• UPDATE 1-California seeks to suspend Ocwen's mortgage license

  13-01-2015 18:20
  Jan 13 (Reuters) - California is seeking to suspend Ocwen Financial Corp's license to operate in the state, saying the mortgage collection company failed to submit papers showing that it complies...
  
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• U.S. small business confidence at eight-year high; job openings rise

  13-01-2015 18:10 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - U.S. small business optimism jumped in December to its highest level in more than eight years, the latest sign of strength in the economy even as dark clouds settle over global growth. The outlook was further bolstered by other data on Tuesday showing job openings approached a 14-year high in November. "There are concerns about global growth, but the fundamentals for the U.S. economy are very solid and what's going on overseas should only be a m
  
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• UPDATE 2-French energy minister wants new nuclear reactors

  13-01-2015 17:54
  * EDF shares climb more than 5 percent (Adds shares, trader comment)
  
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• Retail sector fuels gains for Britain's FTSE 100

  13-01-2015 17:51
  * Commodity shares track weaker oil, metals prices (Updates with closing prices)
  
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• MOVES-Cristiano Souza joins JP Morgan's research team

  13-01-2015 17:50
  NEW YORK, Jan 13 (IFR) - JP Morgan has hired Cristiano Souza, a former Santander economist, to join the firm's emerging markets research team in Sao Paolo, according to an internal memo.
  
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• U.S. 1-month T-bill sale fetches strongest bid in 2 months

  13-01-2015 17:47
  NEW YORK, Jan 13 (Reuters) - The U.S. Treasury Department on Tuesday sold $30 billion in four-week or one-month bills to the strongest bid in two months and at an interest rate of 0.015 percent,...
  
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• GLOBAL MARKETS-Stock markets rally on ECB hopes, oil falls further

  13-01-2015 17:45
  * Dollar gains vs yen and euro in choppy trade (Updates to midday U.S. trading)
  
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• BRIEF-Netflix and Kudelski Group announce comprehensive product relationship

  13-01-2015 17:43
  * Netflix and Kudelski Group announce comprehensive product relationship
  
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• Application software maker Apigee selects banks for IPO -sources

  13-01-2015 17:39
  Jan 13 (Reuters) - Apigee, which develops software to manage Web applications, has selected banks for an initial public offering that could value it at more than $700 million, according to people...
  
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• Wall Street rallies after two-day drop, with focus on earnings

  13-01-2015 17:37 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks rallied on Tuesday to rebound from a two-day decline as investors shrugged off another decline in oil prices and shifted attention to corporate earnings season. Alcoa Inc reported a higher-than-expected quarterly profit due to automotive demand, higher aluminum prices and lower energy costs. The stock climbed as high as $16.52 before paring gains, and was last down 1.6 percent to $15.91. Gains were broad, with each of the 10 major S&P sec
  
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• UPDATE 2-Brazil will not bail out electric utilities, Levy says

  13-01-2015 17:35
  BRASILIA, Jan 13 (Reuters) - The Brazilian government will not give any extra funds to indebted power utilities this year to avoid further harm to its finances, Finance Minister Joaquim Levy said on...
  
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