Finance news

• Brazil's Oleo e Gas to cut 40 pct of workforce

  21-01-2015 23:58
  RIO DE JANEIRO, Jan 21 (Reuters) - Brazilian oil and natural
  gas company Oleo e Gas Participacoes SA said on
  Wednesday it will cut its workforce by 40 percent, or more than
  40 workers, to bring costs...
  
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• UPDATE 1-Raymond James revenue slips from prior quarter

  21-01-2015 23:51
  NEW YORK, Jan 21 (Reuters) - Brokerage and investment bank Raymond James Financial Inc said on Wednesday its fiscal first-quarter revenues totaled $1.25 billion, a 6 percent rise over last year, but...
  
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• EBay may sell enterprise unit ahead of PayPal split

  21-01-2015 23:44 via news.yahoo.com
  
  By Deepa Seetharaman SAN FRANCISCO (Reuters) - E-commerce company eBay Inc on Wednesday announced an agreement with activist investor Carl Icahn that will give investors a greater say in its PayPal payments unit once it is spun off and said it exploring a sale or public offering of its enterprise unit. The moves could lay the groundwork for a future acquisition of eBay and PayPal by companies looking to gain a foothold in the e-commerce and online payments markets. Wall Street analysts have iden
  
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• Talks on Ukraine crisis reach agreement on demarcation line, Steinmeier says

  21-01-2015 23:41
  BERLIN, Jan 21 (Reuters) - Progress was made during four-way talks on the Ukraine crisis and an agreement was reached on establishing security zones between pro-Russian fighters and Kiev's forces,...
  
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• Brazil hikes interest rate to 12.25% to slow inflation

  21-01-2015 23:39 via news.yahoo.com
  
  Brasília (AFP) - Brazil's central bank on Wednesday lifted its key interest rate by half a percentage point to 12.25 percent as Latin America's largest economy fights to keep a lid on inflation yet boost low growth. "Taking into account the macroeconomic situation and inflation perspectives, COPOM (the bank's monetary committee) unanimously decided to raise the Selic rate," the bank said in a statement after its monthly two-day meeting. Last month, the bank also raised
  
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• Shock Bank of Canada rate cut boosts TSX, banks climb

  21-01-2015 23:32 via news.yahoo.com
  
  By John Tilak TORONTO (Reuters) - Canada's main stock index rallied on Wednesday after the central bank cut its benchmark rate in a shock move, helping boost shares of energy companies as well as interest-sensitive banks and other financial issues. Governor Stephen Poloz said the central bank made the surprise move to provide "insurance" against risks stemming from the "oil price shock." Investors gave a thumbs-up to the decision, sending the benchmark equity index up 1.
  
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• CANADA STOCKS-Shock Bank of Canada rate cut boosts TSX, banks climb

  21-01-2015 23:31
  TORONTO, Jan 21 (Reuters) - Canada's main stock index rallied on Wednesday after the central bank cut its benchmark rate in a shock move, helping boost shares of energy companies as well as...
  
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• Fruit and veg giant Costa up for sale

  21-01-2015 23:29 via news.yahoo.com
  
  Fruit and vegetable producer Costa Group is up for sale, with its owners considering a stock market listing or a trade sale.
  
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• Australia shares seen higher ahead of ECB report

  21-01-2015 23:26
  SYDNEY, Jan 22 (Reuters) - Australian shares are likely to open higher on Thursday, steered by market speculation the European Central Bank is poised to launch an aggressive stimulus package....
  
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• UPDATE 1-Discover Financial profit falls 33 pct on higher loan reserves

  21-01-2015 23:22
  Jan 21 (Reuters) - Credit card issuer Discover Financial Services Inc reported a 33 percent drop in quarterly profit as it set aside more money to cover bad loans.
  
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• REFILE-UPDATE 1-Chipmaker Xilinx forecasts lower-than-expected 4th-qtr revenue

  21-01-2015 23:18
  Jan 21 (Reuters) - Programmable chip maker Xilinx Inc forecast weaker-than-expected current-quarter revenue and reported third-quarter revenue that missed the average analyst estimate, hurt by weak...
  
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• Integrated Latam bourses to offer debt in 2016, sector indexes

  21-01-2015 23:17
  MEXICO CITY, Jan 21 (Reuters) - The Latin American Integrated Market, or MILA, which comprises the bourses of Chile, Colombia, Peru and Mexico, plans to include debt instruments in 2016 and indexes...
  
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• Bank of Canada shocks market with rate cut, blames oil plunge

  21-01-2015 23:17 via news.yahoo.com
  
  By Randall Palmer and Leah Schnurr OTTAWA (Reuters) - The Bank of Canada stunned markets by cutting interest rates on Wednesday, citing a threat to economic growth and its inflation targets from the dramatic drop in oil prices and said the bank stood ready to ease policy further if necessary. Governor Stephen Poloz said the central bank's surprise move to stimulate the economy provides "insurance" against risks for Canada, a major oil producer, stemming from the "oil price shock". The bank cut i
  
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• UPDATE 1-Chipmaker Xilinx forecasts lower-than-expected 4th-qtr revenue

  21-01-2015 23:16
  Jan 21 (Reuters) - Programmable chip maker Xilinx Inc forecast weaker-than-expected current-quarter revenue and reported third-quarter revenue that missed the average analyst estimate, hurt by weak...
  
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• UPDATE 4-Bank of Canada shocks market with rate cut, blames oil plunge

  21-01-2015 23:12
  OTTAWA, Jan 21 (Reuters) - The Bank of Canada stunned markets by cutting interest rates on Wednesday, citing a threat to economic growth and its inflation targets from the dramatic drop in oil prices...
  
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• UPDATE 1-American Express to cut more than 4,000 jobs - CNBC

  21-01-2015 23:12
  Jan 21 (Reuters) - American Express Co plans to cut more than 4,000 jobs over the next year, CNBC reported on Wednesday, citing an unnamed company representative.
  
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• UPDATE 1-F5 Networks revenue misses estimates as big deals slow down

  21-01-2015 23:04
  Jan 21 (Reuters) - Network equipment maker F5 Networks Inc reported revenue that missed Wall Street's estimates for the first time in eight quarters due to a fall in the number of large deals.
  
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• UPDATE 3-Germany's Merkel plays down expectations as new Ukraine talks start

  21-01-2015 23:04
  * Germany insists on political solution in Ukraine (Adds diplomat sources)
  
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• US stocks rise on expected European stimulus, higher oil

  21-01-2015 23:02 via news.yahoo.com
  
  NEW YORK (AP) — Another choppy day on Wall Street ended with stocks broadly higher on hopes of new stimulus measures for Europe's weak economy and a sharp rise in oil prices.
  
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• Michelle Obama, Nancy Pelosi to join U.S. delegation to India

  21-01-2015 22:58 via news.yahoo.com
  
  First Lady Michelle Obama will join President Barack Obama on his trip to India next week for Republic Day celebrations where they will be the guests of honor, White House officials confirmed on Wednesday. Obama has been trying to foster closer economic and defense ties with India. He will also take with him Nancy Pelosi, the top Democrat in the House of Representatives, Democratic Senator Mark Warner, and a host of other lawmakers, cabinet members, and business leaders, the White House said.
  
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• OPEC says oil supply policy 'targets no country'

  21-01-2015 22:56 via news.yahoo.com
  
  The shock decision by OPEC to maintain production levels despite plummeting oil prices was based purely on economic considerations and not directed at any particular country, the cartel's secretary-general Abdullah El-Badri said on Wednesday. It's not directed to Russia ... It is a pure economic decision by our ministers and we supported it," El-Badri told a panel audience at the Davos ski resort. Theories have run wild ever since OPEC ministers decided in November to stand pat on
  
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• New York's governor outlines $142 billion state budget, caps spending

  21-01-2015 22:51 via news.yahoo.com
  
  By T.G. Branfalt ALBANY, N.Y. (Reuters) - New York's Governor Andrew Cuomo announced a $142 billion state budget on Wednesday that keeps spending growth below 2 percent and promises more money for big-ticket infrastructure projects while cutting property taxes. The plan taps $5.4 billion in one-off settlements with banks to fund over $3 billion infrastructure and other investments and promises a $1.7 billion property-tax credit to 1.3 million home owners while essentially freezing spending
  
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• Only small victories for retirement in Obama's speech

  21-01-2015 22:47
  
  Chicago (Reuters) - Remember Mitt Romney's huge IRA? During the 2012 campaign, we learned that the governor managed to amass $20 million to $100 million in an Individual Retirement Account, much more...
  
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• Raymond James fiscal 1st-qtr revenues up 6 pct

  21-01-2015 22:46
  NEW YORK, Jan 21 (Reuters) - Brokerage and investment bank Raymond James Financial Inc said on Wednesday its fiscal first-quarter revenues totaled $1.25 billion, up 6 percent from last year, but down...
  
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• Treasuries yields could slip more: Westwood Capital's Alpert

  21-01-2015 22:45
  NEW YORK (Reuters) - Yields on 10-year Treasuries could slide further as excess global supply holds down consumer prices and investors see little reason to add risk, Daniel Alpert, a managing...
  
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• U.S.-based stock funds attract first weekly inflows since November: ICI

  21-01-2015 22:41
  NEW YORK (Reuters) - Investors in U.S.-based mutual funds committed $1.7 billion to stock funds in the week ended Jan. 14 on renewed appetite for international stocks, data from the Investment...
  
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• Central banks are not your friends: James Saft

  21-01-2015 22:39
  (Reuters) - Investors are feeling a rather unfamiliar sentiment towards central banks: betrayed.
  
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• TSX climbs after Bank of Canada decision

  21-01-2015 22:34 via news.yahoo.com
  
  TORONTO (Reuters) - Canada's main stock index jumped on Wednesday as the Bank of Canada cut its benchmark rate in a surprise move to minimize the impact of lower oil prices on economic growth. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 251.98 points, or 1.76 percent, at 14,560.42 shortly after the open. (Reporting by John Tilak; Editing by Meredith Mazzilli)
  
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• Programmable chip maker Xilinx's profit falls 4 pct

  21-01-2015 22:33
  Jan 21 (Reuters) - Programmable chip maker Xilinx Inc reported a 4.2 percent fall in quarterly profit, hurt by weak sales to broadcast and communications customers.
  
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• Ebay to cut about 2,400 positions in current quarter

  21-01-2015 22:26
  Jan 21 (Reuters) - Online retailer Ebay Inc said it plans to cut about 2,400 positions, or 7 percent of its workforce across eBay marketplaces, PayPal, and eBay enterprise in the current quarter to...
  
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• Wall Street rises ahead of ECB meeting; IBM weighs

  21-01-2015 22:26 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks rose on Wednesday in a choppy session as traders digested reports that new stimulus would be announced by the European Central Bank at its Thursday meeting, while declines in IBM limited the gains.
  
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• AmEx profit rises 10.7 pct

  21-01-2015 22:22
  Jan 21 (Reuters) - American Express Co, the world's largest credit card issuer, reported a 10.7 percent rise in fourth-quarter profit as customers in the United States spent more using its cards and...
  
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• F5 Networks revenue misses estimates as big deals slow down

  21-01-2015 22:20 via news.yahoo.com
  
  (Reuters) - Network equipment maker F5 Networks Inc reported revenue that missed Wall Street's estimates for the first time in eight quarters due to fall in the number of large deals. Revenue rose 13.8 percent to $462.8 million in the first quarter ended Dec. 31, but fell short of analysts average estimates of $467.2 million, according to Thomson Reuters I/B/E/S. "In addition to the seasonal softness we normally experience in the first quarter of a new fiscal year, product sales during the quart
  
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• US stocks end bumpy day with gains

  21-01-2015 22:12 via news.yahoo.com
  
  NEW YORK (AP) — Another choppy day on Wall Street is ending with stocks higher on hopes for new stimulus for Europe's economy and on a sharp rise in oil.
  
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• Fidelity's Wymer says oil plunge does not cloud solar bet

  21-01-2015 21:55
  BOSTON (Reuters) - One of Fidelity Investments' top stock pickers said on Wednesday that he remains positive on solar power despite a drop in oil prices that hurt shares of First Solar Inc and...
  
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• Greenlight Capital makes bet on Time Warner in fourth-quarter: letter

  21-01-2015 21:33
  
  BOSTON (Reuters) - David Einhorn's hedge fund Greenlight Capital told clients that it made new bets on Time Warner, Keysight Technologies and Citizens Financial Group late last year and that bets...
  
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• New Year rally in gold miners conceals troubles that run deep

  21-01-2015 21:31
  VANCOUVER/TORONTO, Jan 21 (Reuters) - The New Year's rally in gold stocks offers a respite for the beaten-down sector, but it masks deep-seated problems of bloated debt, weak growth prospects and...
  
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• In U.S. tax reform talks, small firms fear missing out on relief

  21-01-2015 21:27
  WASHINGTON (Reuters) - President Barack Obama's administration recently sent a blunt message to small business owners who worry tax reform could leave them paying higher income tax rates than...
  
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• Wall Street up on ECB bets but details, IBM cap gains

  21-01-2015 21:16 via news.yahoo.com
  
  U.S. stocks edged up in a choppy Wednesday session as traders digested reports that new stimulus would be announced by the European Central Bank at its Thursday meeting, while declines in IBM and Microsoft also limited the gains. Market participants have been looking for more aggressive measures from central banks, specifically the ECB, to combat the risk of deflation and a weakening euro zone economy. A source told Reuters that the ECB's Executive Board has proposed a program that would en
  
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• CORRECTED-UPDATE 2-Afren says no proven or probable reserves at Iraqi Kurdistan oilfield (Jan 12)

  21-01-2015 21:13
  Jan 12 (Reuters) - Afren Plc said there were no proven or probable reserves at its Barda Rash oilfield in Iraqi Kurdistan, denting its chances of fetching a good price for the asset to refinance its...
  
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• China's economy not headed for 'hard landing'

  21-01-2015 20:57 via news.yahoo.com
  
  China's Premier Li Keqiang sought Wednesday to allay fears over the Asian giant's growth outlook, telling business and government elites gathered in Davos that the economy is not heading for a sharp slowdown. A day after China posted the weakest growth in almost a quarter of a decade, Li vowed to push on with structural reforms which he said would deliver "quality growth" rather than just a high top-line figure. "What I want to emphasise is that regional or systemic fina
  
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• Ukraine requests fresh IMF bailout: Lagarde

  21-01-2015 20:56 via news.yahoo.com
  
  Ukrainian President Petro Poroshenko has asked the IMF for a new and broader rescue package, IMF head Christine Lagarde said on Wednesday as the war-torn country fights to save its reeling economy. Lagarde met Poroshenko on the sidelines of the World Economic Forum in Davos and said Ukraine requested that the Washington-based IMF deepen its relationship with Kiev. The meeting took place soon after Poroshenko told an audience of the world's financial elite in Davos that 9,000 Russian troops
  
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• Russian bond auction flops

  21-01-2015 20:49 via news.yahoo.com
  
  Russia's first attempt to borrow on financial markets since November flopped on Wednesday as Moscow only raised a fifth of the amount it was seeking. The plunge in the value of the ruble at the end of last year pushed Russia to halt raising funds on debt markets. Russia's economy is set for a sharp contraction of three percent this year according to the IMF, as plunging oil prices hit its biggest export and budget earner. Sanctions imposed on Russia by the West, which accuse Moscow of
  
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• U.S., Iran to hold nuclear talks in Switzerland on Friday, Saturday

  21-01-2015 20:46 via news.yahoo.com
  
  U.S. and Iranian negotiators will hold talks about Iran's nuclear program in Switzerland on Friday and Saturday, the U.S. State Department said. Negotiators from Iran and six major powers failed to meet a self-imposed deadline in November to clinch an agreement that is seen as crucial to reducing the risk of a wider Middle East war. A deal would curb Iran's nuclear program in exchange for relief from economic sanctions. U.S. Under Secretary of State Wendy Sherman is scheduled to travel
  
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• Canadian minister says will reach balanced budget without spending cuts

  21-01-2015 20:41 via news.yahoo.com
  
  By Noah Barkin DAVOS, Switzerland (Reuters) - The Canadian government will achieve its goal of a balanced budget in the coming fiscal year without resorting to spending cuts, Finance Minister Joe Oliver told Reuters on Wednesday, hours after a surprise interest rate cut from the central bank. Citing a weaker oil price, the Bank of Canada put an end to the longest period of unchanged rates since 1950, cutting its overnight rate to 0.75 percent from 1 percent. In an interview at the World Economic
  
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• Bank of Canada delivers shock rate cut as ECB gears up for quantitative easing

  21-01-2015 20:36 via news.yahoo.com
  
  By Randall Palmer and John O'Donnell OTTAWA/FRANKFURT (Reuters) - The Bank of Canada joined the list of "unpredictable" central banks on Wednesday with a shock quarter point rate cut as the European Central Bank prepared a 600 billion euro ($695 billion) bond-buying program aimed at lifting Europe out of its economic doldrums. The Canadian move came in response to a sharp drop in oil prices that hit the commodity-dependent economy, expected to grow by just 1.5 percent in the first
  
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• Stocks, euro gain on European bond-buying hopes

  21-01-2015 19:55 via news.yahoo.com
  By Michael Connor NEW YORK (Reuters) - European and U.S. equities rose on Wednesday, lifted by news reports that the European Central Bank will announce a massive bond-buying program to boost the euro zone's flagging economy. U.S. Treasury prices declined and the euro rose against the dollar after news reports that the ECB, which will hold a policy meeting on Thursday, plans to buy 50 billion euros ($58 billion) in bonds per month for at least one year. The FTSEurofirst 300 index , which tr
  
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• QE rumours boost eurozone stocks

  21-01-2015 19:49 via news.yahoo.com
  
  Eurozone stocks got a boost Wednesday on reports that the ECB may launch a bigger stimulus programme than had been expected, while British equities moved higher on falling unemployment. Investors widely expect that the European Central Bank will decide Thursday to begin a sovereign bond-buying programme, known as quantitative easing (QE), to boost the sagging 19-nation economy and combat deflation, but analysts and investors remain uncertain over the exact size of the stimulus. In recent days so
  
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• S&P to pay $77 million to settle U.S. civil charges over ratings

  21-01-2015 19:40 via news.yahoo.com
  
  By Sarah N. Lynch and Karen Freifeld WASHINGTON/NEW YORK (Reuters) - Credit-rating agency Standard & Poor's will pay $77 million in an unprecedented settlement with U.S. and state regulators who accused S&P of misleading investors about its rating system in 2011 and 2012. The case marks the first time the U.S. Securities and Exchange Commission has levied civil charges against one of the Big Three credit-raters since it won authority from Congress in 2006 to police the sector. An SE
  
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• Russia has 9,000 troops in Ukraine, Poroshenko tells Davos forum

  21-01-2015 19:22 via news.yahoo.com
  
  By Dmitry Zhdannikov and Noah Barkin DAVOS, Switzerland (Reuters) - Ukrainian President Petro Poroshenko accused Russia on Wednesday of sending 9,000 troops to back separatist rebels in the east of his country, and the IMF chief said she backed extra financial help for Kiev as the conflict inflicts severe economic damage. Moscow challenged Poroshenko to present facts to prove his allegations. Speaking at the World Economic Forum in Davos, Poroshenko made one of Kiev's boldest assertions yet
  
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