Finance news

• Australia shares likely to extend falls on global growth worries

  14-01-2015 23:52
  SYDNEY, Jan 15 (Reuters) - Australian shares may extend their 3-day fall on Thursday as late gains on Wall Street overnight and a spike in oil futures will likely be offset by weak commodity markets...
  
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• Wells Fargo fourth quarter profit rises; watching energy exposure

  14-01-2015 23:42
  
  (Reuters) - Wells Fargo & Co, the fourth largest U.S. bank by assets, reported a slight increase in quarterly profit on Wednesday as it earned more from credit cards and corporate loans.
  
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• Diversification, a bet on human ingenuity

  14-01-2015 23:41
  (Reuters) - To diversify investments is to bet on, rather than against, human ingenuity.
  
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• FBI Raids Firm With Wolf Of Wall Street Link

  14-01-2015 23:39 via news.yahoo.com
  
  FBI agents have raided the offices of a medical device company whose executive vice president helped inspire the film The Wolf Of Wall Street. Nearly a dozen agents and local police closed entrances to Med-Care Diabetic & Medical Supplies Inc in Boca Raton, Florida, on Wednesday. Danny Porush, a top executive with the company, inspired the character portrayed by Jonah Hill in the 2013 film that also starred Leonardo DiCaprio. An FBI spokesman told Reuters the agency was conducting "law
  
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• SAFT ON WEALTH-Diversification, a bet on human ingenuity

  14-01-2015 23:30
  Jan 14 (Reuters) - To diversify investments is to bet on, rather than against, human ingenuity.
  
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• Canada's Oliver: on track to balance budget in 2015

  14-01-2015 23:21 via news.yahoo.com
  
  VANCOUVER (Reuters) - Canada's Finance Minister Joe Oliver reiterated the government is on track to balance the budget in 2015-16 as expected, even with the recent slide in oil prices. "We are proud that the government is on track to achieve a balanced budget in 2015, with an expected surplus of C$1.6 billion," Oliver told reporters. He said the projection takes into account the drop in oil, noting the slide in crude had both positive and negative implications for the economy. (Re
  
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• BlackRock expected to show its progress winning over retail investors

  14-01-2015 23:00
  
  (Reuters) - When BlackRock Inc reports its fourth-quarter earnings on Thursday, results are likely to show that a three-year effort to win the hearts and dollars of financial advisers and their...
  
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• Wall St. ends down for fourth day on global growth worries

  14-01-2015 22:51 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks fell for a fourth day on Wednesday as a World Bank forecast fueled concerns about global economic weakness and copper prices sank, although a late-day rebound in energy shares left the market well off its lows after a volatile session.
  
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• US STOCKS-Wall St ends down for 4th day on global growth worries

  14-01-2015 22:49
  * Energy index ends higher as U.S. oil futures rally late in session
  
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• GVO races to raise funding after missed coupon

  14-01-2015 22:48
  NEW YORK, Jan 14 (IFR) - Brazil's Grupo Virgolino de
  Oliveira (GVO) might have only a few weeks left to raise new
  cash and finalize an agreement with creditors that could stave
  off bankruptcy, after...
  
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• Illinois speaker says budget deficits top legislative issue

  14-01-2015 22:32 via news.yahoo.com
  
  CHICAGO (Reuters) - Illinois' large budget deficits are the top issue facing the state legislature, House Speaker Michael Madigan said on Wednesday. The powerful Democrat, who was elected on Wednesday to a 16th term as speaker, said Illinois' cumulative general funds budget gap is projected to top $11 billion over the next two fiscal years, exacerbated by the partial expiration on Jan. 1 of a 2011 temporary hike in income tax rates. On Dec. ...
  
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• Stocks lower on growth concerns, copper plunges

  14-01-2015 22:17 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - Securities around the world fell on Wednesday after the World Bank cut its economic growth forecasts for 2015 and 2016, with stocks down across regions and copper suffering its biggest one-day drop in more than three years. The outlook fueled fears that the benefits of cheaper oil may be offset by anemic economies and the threat of deflation, sending investors to seek safety in government debt, while the U.S. dollar slumped against the yen. The S&P 500
  
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• FBI raids Florida firm with 'Wolf of Wall Street' link: witnesses

  14-01-2015 22:15 via news.yahoo.com
  
  By Aruna Viswanatha and Zachary Fagenson WASHINGTON/BOCA RATON, Fla. (Reuters) - U.S. FBI agents on Wednesday raided the offices of Med-Care Diabetic & Medical Supplies Inc, a Florida medical device company whose executive vice president helped inspire the movie "The Wolf of Wall Street," according to a Reuters reporter and other witnesses. The reporter saw dozens of agents from the Federal Bureau of Investigation, the Florida Division of Insurance Fraud, and local police around th
  
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• New York investment manager charged in $2 mln Ponzi scheme

  14-01-2015 22:14
  NEW YORK, Jan 14 (Reuters) - Steven Canady, owner of Alliance Warburg Capital Management, was charged in New York on Wednesday with stealing more than $2 million from four companies as part of a...
  
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• UPDATE 2-FBI raids Florida firm with 'Wolf of Wall Street' link-witnesses

  14-01-2015 22:14
  WASHINGTON/BOCA RATON, Fla., Jan 14 (Reuters) - U.S. FBI agents on Wednesday raided the offices of Med-Care Diabetic & Medical Supplies Inc, a Florida medical device company whose executive vice...
  
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• US stocks fall for 4th straight day

  14-01-2015 22:13 via news.yahoo.com
  
  New York (AFP) - Wall Street stocks dropped Wednesday on a bruising day for global markets following a disappointing US retail sales report and a weak global economic forecast from the World Bank.
  
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• Fannie, Freddie must study 'alternate' credit scoring -regulator

  14-01-2015 22:07
  WASHINGTON, Jan 14 (Reuters) - Fannie Mae and Freddie Mac's regulator hinted on Wednesday that credit standards could be eased when it laid out the 2015 goals for U.S. mortgage companies.
  
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• Boehringer Ingelheim may sell U.S. generic unit: Bloomberg

  14-01-2015 21:44
  (Reuters) - German drugmaker Boehringer Ingelheim is considering the sale of its U.S. generics unit Roxane Labs for as much as 2 billion euros ($2.36 billion), Bloomberg said, citing people with...
  
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• FBI raids Florida offices of firm with 'Wolf of Wall Street' link: witnesses

  14-01-2015 21:34 via news.yahoo.com
  
  By Aruna Viswanatha and Zachary Fagenson WASHINGTON/BOCA RATON, Fla. (Reuters) - U.S. FBI agents on Wednesday raided the offices of Med-Care Diabetic & Medical Supplies Inc, a Florida medical device company whose executive vice president helped inspire the movie "The Wolf of Wall Street," according to a Reuters reporter and other witnesses. The reporter saw dozens of agents from the Federal Bureau of Investigation, the Florida Division of Insurance Fraud, and local police around th
  
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• How to play the interest rate game in 2015

  14-01-2015 21:30
  
  NEW YORK (Reuters) - Most experts expect U.S. interest rates to rise in 2015, but no one knows when and by how much.
  
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• CORRECTED-YOUR MONEY-How to play the interest rate game in 2015

  14-01-2015 21:25
  NEW YORK, Jan 14 (Reuters) - Most experts expect U.S. interest rates to rise in 2015, but no one knows when and by how much.
  
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• Osborne says need to decide on sale of RBS stake soon after election

  14-01-2015 21:25 via news.yahoo.com
  
  By William Schomberg and William James LONDON (Reuters) - Chancellor George Osborne said he would need to decide quickly about a sale of the government's stake in the bailed-out Royal Bank of Scotland after May's election, adding he hoped to be able to recover taxpayers' money. Osborne also gave more details of his plans to fix Britain's public finances, saying he would hand independent budget forecasters the power to say when the government could stray from running a surplus
  
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• UPDATE 1-UK's Osborne says need to decide on sale of RBS stake soon after election

  14-01-2015 21:22
  * Proposes new powers for official forecaster on economy (Adds details, quotes)
  
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• UPDATE 2-Caesars unit to file for bankruptcy Thursday in Chicago

  14-01-2015 21:12
  Jan 14 (Reuters) - Caesars Entertainment Corp's
  operating unit will launch a $10 billion debt-cutting plan when
  the biggest U.S. casino company files for bankruptcy on Thursday
  in Chicago, but...
  
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• Wells Fargo examines its energy loans after oil-price drop

  14-01-2015 21:02
  NEW YORK, Jan 14 (Reuters) - Wells Fargo & Co, one of the biggest lenders to U.S. energy companies, is reviewing each of its loans to the sector in the wake of oil prices tumbling 60 percent since...
  
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• Need help filing out your tax return? Don't call the IRS

  14-01-2015 20:57 via news.yahoo.com
  
  WASHINGTON (AP) — Filing a federal tax return is about to get more complicated for millions of families because of President Barack Obama's health law. But they shouldn't expect much help from the Internal Revenue Service.
  
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• US STOCKS-Wall St cuts losses with energy shares as U.S. oil jumps

  14-01-2015 20:56
  * Indexes off: Dow 1.3 pct, S&P 0.9 pct, Nasdaq 0.7 pct (Updates to afternoon)
  
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• U.S. states ask JPMorgan Chase for security data as they probe hack

  14-01-2015 20:52
  MIAMI, Jan 14 (Reuters) - States probing last summer's massive hack at JPMorgan Chase & Co have asked for detailed data on the company's security practices and want to know whether the bank is...
  
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• Some funds that got out of oil early start moving back in

  14-01-2015 20:41
  NEW YORK (Reuters) - Few mutual fund managers pulled out of oil stocks before the price of crude began plummeting in the fall of 2014, according to Morningstar data. Now, some of those who...
  
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• UPDATE 1-Some funds that got out of oil early start moving back in

  14-01-2015 20:39
  NEW YORK, Jan 14 (Reuters) - Few mutual fund managers pulled out of oil stocks before the price of crude began plummeting in the fall of 2014, according to Morningstar data. Now, some of those who...
  
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• Exclusive: Top investors push Aegerion to oust CEO, consider sale - sources

  14-01-2015 20:11
  SAN FRANCISCO (Reuters) - Several of the top 10 investors at Aegerion Pharmaceuticals Inc are pushing the company to oust Chief Executive Marc Beer and consider selling itself, according to people...
  
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• Dismal report on US retail spending hits the stock market

  14-01-2015 20:11 via news.yahoo.com
  
  NEW YORK (AP) — Dismal news on U.S. retail sales and more signs of slowing global growth weighed on financial markets Wednesday. U.S. and overseas stocks fell and copper plunged to a five-year low. Investors sought safety in government bonds, pushing down the yield on the 10-year Treasury note to its lowest level since May 2013.
  
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• Fed survey finds moderate economic growth

  14-01-2015 20:01 via news.yahoo.com
  
  WASHINGTON (AP) — The Federal Reserve says the U.S. economy was growing at a moderate pace in December and early January, helped by gains in sales of autos and other consumer products, increased factory production and a pickup in tourism in various parts of the country.
  
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• Global stocks fall on world growth concerns, copper plunges

  14-01-2015 19:57 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - Securities around the world fell on Wednesday after the World Bank cut its economic growth forecasts for 2015 and 2016, with stocks lower across regions and copper suffering its biggest one-day drop in more than three years. The outlook fueled fears that the benefits of cheaper oil may be offset by anemic economies and the threat of deflation, sending investors to seek safety in government debt and gold, while the U.S. dollar slumped against the yen. ...
  
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• Brent ebbs on growth gloom, U.S. crude aims for parity

  14-01-2015 19:48 via news.yahoo.com
  
  By Samantha Sunne NEW YORK (Reuters) - Brent crude oil prices dipped on Wednesday, threatening to touch new six-year lows after an unexpected big rise in U.S. crude and fuel inventories and a dimmer view of world economic growth next year. U.S. crude prices gained despite the stockbuild, threatening to once again reach parity to the European marker as dealers bid for barrels to put into storage, taking advantage of a widening gap between depressed short-term prices and higher longer-term ones. .
  
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• SEC adopts rules establishing regime for swap data warehouses

  14-01-2015 19:45
  
  (Reuters) - U.S. securities regulators took another step toward shedding more light on the over-the-counter derivatives market Wednesday, adopting a raft of measures to give them a direct window into...
  
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• Key interest rate falls as investors seek safety

  14-01-2015 19:43 via news.yahoo.com
  
  A barometer of Wall Street's anxiety flashed red on Wednesday, when traders rushed to the safety of U.S. government bonds. The surge in demand for Treasurys knocked a key interest rate to its lowest level ...
  
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• US bond yield hits record low as growth fears mount

  14-01-2015 19:32 via news.yahoo.com
  
  "It's really concerns about global economic growth which is driving a lot of money into the US Treasury market and driving down those yields," said Paul Edelstein, director of financial economics for IHS Global Insight. The volatility came after US retail sales for the key December period declined a steep 0.9 percent, spurring worries about the US economic recovery.
  
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• U.S.-focused stock funds post $5.4 billion outflows in early 2015: ICI

  14-01-2015 19:31
  NEW YORK (Reuters) - Investors in U.S.-based mutual funds pulled $5.4 billion out of U.S.-focused stock funds in the week ended Jan. 7, marking the biggest outflows in six months as growth fears...
  
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• ANALYSIS-GM offers aggressive outlook in CEO Barra's 'do-over' year

  14-01-2015 19:15
  DETROIT, Jan 14 (Reuters) - General Motors Co Chief Executive Officer Mary Barra said on Wednesday the largest U.S. automaker would increase its profit this year, as she counted on investors to give...
  
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• Exclusive: FBI raids Florida offices of firm with 'Wolf of Wall Street' link - witnesses

  14-01-2015 19:14 via news.yahoo.com
  
  WASHINGTON/BOCA RATON, FL. (Reuters) - U.S. FBI agents on Wednesday raided the offices of Med-Care Diabetic & Medical Supplies Inc, a Florida medical device company whose executive vice president helped inspire the movie "The Wolf of Wall Street," according to two witnesses.     Dozens of agents from the FBI, Florida fraud department, and local police closed entrances to the building that houses Med-Care, and are removing boxes of files, one of the witnesses said. ...
  
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• Stocks fall on world growth concerns, copper plunges

  14-01-2015 19:14 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - Securities around the world fell on Wednesday after the World Bank cut its economic growth forecasts for 2015 and 2016, with stocks lower across regions and copper suffering its biggest one-day drop in more than three years. The outlook fueled fears that the benefits of cheaper oil may be offset by anemic economies and the threat of deflation, sending investors to seek safety in government debt and gold, while the U.S. dollar slumped against the yen. ...
  
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• U.S. House approves bill scaling back Wall Street reform law

  14-01-2015 19:11 via news.yahoo.com
  
  By Emily Stephenson WASHINGTON (Reuters) - Lawmakers in the U.S. House of Representatives on Wednesday approved a bill scaling back the 2010 Wall Street financial reforms, an early victory that could embolden Republicans to continue chipping away at the oversight law. House Republicans view much of the Dodd-Frank law as unworkable and an unnecessary burden on American businesses, while many Democrats have vowed to defend it. In a mostly party-line vote of 271 to 154, lawmakers voted to send the
  
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• ISS reverses stance, backs Dollar Tree's bid for Family Dollar

  14-01-2015 19:10
  
  (Reuters) - Institutional Shareholder Services advised Family Dollar Stores Inc shareholders to vote for the retailer's acquisition by Dollar Tree Inc , reversing its previous stance.
  
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• UPDATE 2-ISS reverses stance, backs Dollar Tree's bid for Family Dollar

  14-01-2015 19:07
  Jan 14 (Reuters) - Institutional Shareholder Services advised Family Dollar Stores Inc shareholders to vote for the retailer's acquisition by Dollar Tree Inc, reversing its previous stance.
  
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• Stryker eyes deals, market share growth in Europe

  14-01-2015 19:04
  (Reuters) - Orthopedic device and surgical equipment maker Stryker Corp said on Wednesday it is eyeing growth through acquisitions, and has set its sights on improving market share for its products...
  
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• EU executive push against red tape divides parliament

  14-01-2015 18:48 via news.yahoo.com
  
  BRUSSELS (Reuters) - EU lawmakers have failed to agree a united stance against the European Commission's plans to scrap some environment policy, marking a victory for the executive's push for less regulation. The Commission in December laid out its legislative plans for 2015, with a promise to focus on priorities such as jobs and boosting the economy. As part of a campaign to cut red tape, it said it planned to withdraw proposals made by the previous EU executive, including on air pollution and
  
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• European stocks fall on deflation fears

  14-01-2015 18:39 via news.yahoo.com
  
  Europe's leading stock markets fell sharply on Wednesday as deflation fears swept across the region, while tumbling commodity prices sent mining and oil share prices crashing. London's benchmark FTSE 100 index tumbled 2.35 percent to 6.388.46 points, as shares in mining groups collapsed after copper prices slumped to near six-year low points. "It was a sea of red for European equities on Wednesday even with a cautious green light for QE (quantitative easing) from the European Cour
  
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• High-speed trader DRW to acquire Chicago rival Chopper Trading

  14-01-2015 18:37
  CHICAGO (Reuters) - High-speed trading firm DRW Trading Group said it has agreed to buy the assets of rival Chopper Trading LLC as the industry continues to consolidate.
  
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• Houses passes bill easing rules regulating Wall Street

  14-01-2015 18:33 via news.yahoo.com
  
  WASHINGTON (AP) — The House has passed a bill to soften the landmark law reining in banks and Wall Street, advancing a key Republican priority more than six years after the financial crisis struck and brought on the Great Recession.
  
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