Finance news

• Standard Bank's metals chief Coupland goes on temporary leave

  23-01-2015 23:54
  LONDON, Jan 23 (Reuters) - Standard Bank Plc's charismatic co-head of commodities Jim Coupland is on temporary leave for personal reasons, his counterpart Mark Buncombe to take over day-to-day reins...
  
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• U.S.' Kerry, Iran foreign minister confer on nuke talks

  23-01-2015 23:49 via news.yahoo.com
  
  U.S. Secretary of State John Kerry and Iranian Foreign Minister Mohammad Jawad Zarif met here on Thursday, a senior State Department official said, the latest in an intensifying series of talks to reach a deal on Iran's disputed nuclear program. There was no immediate word on whether the two men had made progress in the hour-long session on a deal to curb Iran's nuclear work in return for an unraveling of Western economic sanctions on Tehran. Meanwhile, Zarif, speaking on a panel at th
  
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• New York billionaire sues Canadian designer for defamation amid Bahamas feud

  23-01-2015 23:46
  NEW YORK (Reuters) - The billionaire hedge fund manager Louis Bacon has filed a $50 million defamation lawsuit against the Canadian fashion designer Peter Nygård, escalating a long-running battle...
  
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• Canada could tap contingency fund on oil drop - Oliver

  23-01-2015 23:45
  OTTAWA, Jan 23 (Reuters) - A contingency fund set aside for unexpected events could be used to offset the blow from the recent slide in oil prices, according to comments from Finance Minister Joe...
  
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• Record U.S. pork export growth to Mexico seen slowing in 2015

  23-01-2015 23:43
  CHICAGO, Jan 23 (Reuters) - Pork exports from the United States to Mexico, its biggest market, are likely to grow more slowly in 2015 after three years of record increases, as a deadly pig virus...
  
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• NY billionaire sues Canadian designer for defamation amid Bahamas feud

  23-01-2015 23:38
  NEW YORK, Jan 23 (Reuters) - The billionaire hedge fund manager Louis Bacon has filed a $50 million defamation lawsuit against the Canadian fashion designer Peter Nygård, escalating a long-running...
  
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• Canada's Mobilicity out of one airwaves auction, needs cash for another

  23-01-2015 23:36
  TORONTO, Jan 23 (Reuters) - Struggling Canadian wireless
  operator Mobilicity will not bid for more airwaves in one
  upcoming government auction and is trying to secure funding to
  participate in...
  
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• Atlantic City vs Detroit: Who is better off?

  23-01-2015 23:22
  By Hilary Russ and Megan Davies Jan 23 (Reuters) - "At least we're not Detroit," Atlantic City's Mayor joked just last week during his state of the city address. Don Guardian, who took the helm a...
  
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• Connecticut orders second round of budget cuts to close deficit

  23-01-2015 23:03 via news.yahoo.com
  
  Connecticut governor Dannel Malloy ordered a second round of spending cuts in two months on Friday, slicing $31.5 million more from the state's $20 billion budget as officials warned of "very tough choices" ahead. The move was aimed at closing a $31.6 million projected deficit this fiscal year that Connecticut's chief financial watchdog projected at the start of January. "If necessary the Governor will take additional steps, or propose additional steps to the legislature
  
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• Iraqi PM says West and Iran both helping against Islamic State

  23-01-2015 22:59 via news.yahoo.com
  
  Iraq's prime minister said on Friday the West had increased support to his country to help it fight Islamic State, and Iran was also providing crucial backing. Haider al-Abadi told the World Economic Forum in Davos that help from the West had been slow but had accelerated in recent weeks. The United States and its allies have been carrying out air strikes in both Iraq and Syria to counter last year's dramatic advances by Islamic State, which has declared a caliphate on territory captured in both
  
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• CANADA FX DEBT-C$ eases moderately after data and as bank policies weigh

  23-01-2015 22:58
  * Canadian dollar at C$1.2424 or 80.49 U.S. cents * Bond prices mixed across the maturity curve By Solarina Ho TORONTO, Jan 23 (Reuters) - The Canadian dollar on Friday slipped to its weakest close...
  
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• ECB easing pushes European equities to 7-year high, euro sinks

  23-01-2015 22:53 via news.yahoo.com
  
  By Michael Connor NEW YORK (Reuters) - European stocks hit seven-year highs on Friday, continuing a rally ignited by the European Central Bank's plan for massive regional economic stimuli that also knocked the euro to 11-year lows. Wall Street mostly fell on soft corporate earnings news after the S&P 500 rallied 1.5 percent on Thursday on the ECB's $1 trillion bond-buying announcement. "We are in an avalanche of euro selling," said Boris Schlossberg, managing director of
  
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• Online storage provider Box soars in Wall Street debut

  23-01-2015 22:52 via news.yahoo.com
  
  SAN FRANCISCO (AP) — Box's shares soared 66 percent in their stock market debut Friday despite the online storage provider's decade-long history of losses, a showing that may encourage more unprofitable technology startups to go public this year.
  
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• TSX ends day, week higher as investors cheer central bank moves

  23-01-2015 22:50 via news.yahoo.com
  
  By John Tilak TORONTO (Reuters) - Canada's main stock index edged higher on Friday and recorded a sharp weekly gain as investors welcomed moves by the Bank of Canada and the European Central Bank earlier this week. The Canadian central bank unexpectedly cut interest rates on Wednesday, while the ECB announced a massive stimulus plan on Thursday to try to boost a sagging euro zone economy. The benchmark TSX extended gains after jumping during the previous two sessions. It rose 3.3 percent th
  
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• ECB easing pushes European equities to seven-year high, euro sinks

  23-01-2015 22:49 via news.yahoo.com
  
  By Michael Connor NEW YORK (Reuters) - European stocks hit seven-year highs on Friday, continuing a rally ignited by the European Central Bank's plan for massive regional economic stimuli that also knocked the euro to 11-year lows. Wall Street mostly fell on soft corporate earnings news after the S&P 500 rallied 1.5 percent on Thursday on the ECB's $1 trillion bond-buying announcement. "We are in an avalanche of euro selling," said Boris Schlossberg, managing director of
  
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• UPS and Starbucks are big market movers

  23-01-2015 22:49 via news.yahoo.com
  
  Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE United Parcel Service Inc., down $11.32 to $102.93 The shipping company cut its ...
  
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• GLOBAL MARKETS-ECB easing pushes European equities to 7-year high, euro sinks

  23-01-2015 22:48
  (Adds closing prices) * Wall St sits out rally on soft corporate earnings * Euro slumps toward $1.11 to 11-year low * Treasuries up as European bond yields decline By Michael Connor NEW YORK, Jan 23...
  
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• Wall Street falls on miners, UPS; indexes up for week

  23-01-2015 22:30 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks fell modestly on Friday, pressured by underwhelming corporate news including guidance from economic activity bellwether UPS and as materials stocks fell after bearish notes.
  
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• Stocks fall, snapping 4-day winning streak; UPS slumps

  23-01-2015 22:16 via news.yahoo.com
  
  NEW YORK (AP) — The stock market is finishing lower, snapping a four-day winning streak, as U.S. companies report mixed quarterly results.
  
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• UPS weighs on Wall Street but indexes up for week

  23-01-2015 22:08 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks fell on Friday, pressured by underwhelming corporate news including guidance from economic activity bellwether UPS and as materials stocks fell after bearish research notes.
  
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• UPDATE 3-Brazil's Oi open to all options as telecom consolidation looms

  23-01-2015 22:04
  RIO DE JANEIRO/SAO PAULO/MILAN, Jan 23 (Reuters) - Oi SA , Brazil's most indebted phone carrier, is open to all options in a potential process of industry consolidation as long as the transaction...
  
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• Fitch Affirms Rwanda at 'B+'; Outlook Stable

  23-01-2015 22:04
  (The following statement was released by the rating agency) LONDON, January 23 (Fitch) Fitch Ratings has affirmed Rwanda's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'B+....
  
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• U.S. funds buy fewest 30-year bonds at auction since March

  23-01-2015 21:53
  NEW YORK, Jan 23 (Reuters) - U.S. investment funds purchased the fewest 30-year U.S. government bonds since March at an auction in early January, according to data from the U.S. Treasury Department...
  
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• Wall Street dips on UPS, miners; Starbucks jumps

  23-01-2015 21:45 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks fell modestly on Friday, pressured by underwhelming corporate news including guidance from economic activity bellwether UPS, which offset optimism triggered by the European Central Bank's decision to stimulate euro zone growth.
  
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• US stocks slide; UPS, Kimberly-Clark slump on earnings

  23-01-2015 21:36 via news.yahoo.com
  
  The stock market moved lower Friday, snapping four days of gains, as U.S. companies turned in mixed results for the fourth quarter. Shares of tissue and diaper maker Kimberly-Clark dropped after the company's ...
  
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• Expedia Inc acquires Travelocity in $280 million deal

  23-01-2015 21:34
  
  (Reuters) - Expedia Inc has acquired online travel agency Travelocity from technology company Sabre Corp for $280 million in cash, the companies said in a statement on Friday, as consolidation in...
  
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• UPDATE 1-Venezuela sets aside funds to pay March bond - investor

  23-01-2015 21:34
  NEW YORK, Jan 23 (IFR) - Venezuela has already set aside funds to pay a EUR1bn bond maturing in March, the country's Finance Minister Rodolfo Marco Torres told a group of international investors this...
  
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• UPDATE 2-Moody's slashes Atlantic City rating on bankruptcy potential

  23-01-2015 21:32
  Jan 23 (Reuters) - Moody's Investors Service slashed Atlantic City's credit rating six notches deeper into junk territory on Friday, a day after New Jersey Governor Chris Christie appointed an...
  
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• U.S. Senate's Hatch sees support for tax reform

  23-01-2015 21:17 via news.yahoo.com
  
  By Kevin Drawbaugh WASHINGTON (Reuters) - The U.S. Senate's top tax law writer sounded determined on Friday about pursuing comprehensive tax reform, though this is viewed as unlikely by most analysts. "Though there are disagreements on the details, there is bipartisan support for tax reform in Congress," said Orrin Hatch, Republican chairman of the Senate Finance Committee, at a conference for tax lawyers, analysts and economists. Hatch took over leadership of the committee this m
  
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• UPDATE 1-European stock funds attract $3.3 bln in latest week-EPFR

  23-01-2015 21:15
  NEW YORK, Jan 23 (Reuters) - Investors worldwide poured $3.3 billion into funds that invest in stocks of companies throughout Europe ahead of the European Central Bank's announcement of a landmark...
  
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• Independent Greeks emerge as Syriza coalition option

  23-01-2015 21:13
  * With Syriza set for victory, party sees role as "safety valve"
  
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• Box's stock soars more than 70 percent in Wall Street debut

  23-01-2015 21:10 via news.yahoo.com
  
  SAN FRANCISCO (AP) — Box's shares soared more than 70 percent in their stock market debut Friday despite the online storage provider's decade-long history of losses, a showing that may encourage more unprofitable technology startups to go public this year.
  
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• European stocks hit 7-year high on ECB easing, euro sinks

  23-01-2015 21:08 via news.yahoo.com
  
  By Michael Connor NEW YORK (Reuters) - European stocks hit seven-year highs on Friday, continuing a rally ignited by the European Central Bank's plan for massive regional economic stimuli that also knocked the euro to fresh 11-year lows. Wall Street fell on soft corporate earnings news after the S&P 500 had rallied 1.5 percent on Thursday's $1 trillion bond-buying announcement from the European Central Bank. "We are in an avalanche of euro selling," said Boris Schlossberg
  
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• European stocks hit seven-year high on ECB easing, euro sinks

  23-01-2015 21:00 via news.yahoo.com
  
  By Michael Connor NEW YORK (Reuters) - European stocks hit seven-year highs on Friday, continuing a rally ignited by the European Central Bank's plan for massive regional economic stimuli that also knocked the euro to fresh 11-year lows. Wall Street fell on soft corporate earnings news after the S&P 500 had rallied 1.5 percent on Thursday's $1 trillion bond-buying announcement from the European Central Bank. "We are in an avalanche of euro selling," said Boris Schlossberg
  
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• Venezuela set aside funds to pay bond expiring in March -IFR

  23-01-2015 20:59
  CARACAS, Jan 23 (Reuters) - Venezuela has set aside funds to pay a 1 billion euro bond maturing in March, the country's finance minister, Rodolfo Marco Torres, told a group of investors, Thomson...
  
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• GLOBAL MARKETS-European stocks hit 7-year high on ECB easing, euro sinks

  23-01-2015 20:58
  * Wall St stung by soft corporate earnings * European shares have best week since 2011 on ECB QE, * Euro slumps towards $1.11 to 11-year low * Treasuries rally as European bond yields decline By...
  
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• UPDATE 1-MasterCard to allow transactions in Cuba using U.S.-issued cards

  23-01-2015 20:50
  Jan 23 (Reuters) - MasterCard Inc said it would allow its cards issued in the United States to be used in Cuba, effective March 1.
  
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• UPDATE 2-Greek anti-austerity party holds lead before Sunday elections

  23-01-2015 20:49
  * Syria officials say want time, not bailout extension (Adds quotes, details, background)
  
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• Seeing Timkensteel as takeover candidate, Hodges fund buys its shares

  23-01-2015 20:43
  NEW YORK, Jan 23 (Reuters) - Timkensteel Corp, a producer of high-quality steel used in products ranging from oil rigs to fighter jets, looks to be an attractive takeover candidate as its shares...
  
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• TREASURIES-U.S. yields fall as European debt yields drop to record lows

  23-01-2015 20:42
  (Adds quotes, updates trading) * ECB bond purchases boosts bond demand * European yields fall to record lows * U.S. Fed meeting next week in focus By Karen Brettell NEW YORK, Jan 23 (Reuters) - U.S....
  
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• Brazil's Oi 'open to all options' as industry consolidation looms

  23-01-2015 20:36
  SAO PAULO, Jan 23 (Reuters) - Brazilian phone carrier Oi SA is open to all options in a potential process of industry consolidation so long as the transaction helps it "create shareholder value,"...
  
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• Venezuela sets aside funds to pay March bond - investor

  23-01-2015 20:30
  NEW YORK, Jan 23 (IFR) - Venezuela has already set aside funds to pay a EUR1bn bond maturing in March, the country's finance minister Rodolfo Marco Torres told a group of international investors this...
  
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• U.S. investors favor currency hedged Europe ETFs as euro tumbles

  23-01-2015 20:20
  NEW YORK (Reuters) - U.S. investors stung by the falling euro who want to stay invested in Europe are turning to exchange-traded funds designed to strip out the impact of the region's currency.
  
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• Wall Street dips weighed by UPS, miners; Starbucks shines

  23-01-2015 20:18 via news.yahoo.com
  
  U.S. stocks fell modestly on Friday, pressured by some disappointing results from major multinational companies, which offset optimism triggered by the European Central Bank's recent decision to buy bonds and boost euro zone growth. Goldman cut its price target on Freeport McMoRan by 42 percent to $18 and cut prices on other miners, while it slashed price forecasts on commodity prices including aluminum, copper and nickel. UPS was the largest drag on the S&P 500 after its guidance disap
  
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• Mexico's Carstens says ECB bond-buying will keep peso strong

  23-01-2015 20:18
  MEXICO CITY, Jan 23 (Reuters) - Mexican Central Bank Governor Agustin Carstens on Friday said the European Central Bank's new bond-buying program would strengthen the peso, which has been battered by...
  
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• Fitch Maintains Institut Catala de Finances on Rating Watch Negative

  23-01-2015 20:09
  (The following statement was released by the rating agency) BARCELONA/PARIS/LONDON, January 23 (Fitch) Fitch Ratings is maintaining Institut Catala de Finances' (ICF) Long- and Short-term Issuer...
  
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• China Alibaba founder Jack Ma shows global ambitions

  23-01-2015 19:50 via news.yahoo.com
  
  Alibaba founder Jack Ma, China's richest person, on Friday expressed ambitions of making his company into a global e-commerce platform serving two billion customers. The company, which listed on the New York Stock Exchange last year, is estimated to hold over 90 percent of the Chinese market for consumer-to-consumer transactions through its Taobao platform. "What I am thinking about: how we can make Alibaba a platform for global small business," Ma told the World Economic Forum. H
  
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• Russia details bank recapitalization scheme

  23-01-2015 19:45 via news.yahoo.com
  
  Russian banks with at least 25 billion roubles in capital and willing to increase lending to key sectors of the economy will be able to participate in a 1 trillion rouble ($15.65 billion) recapitalization plan, Russia announced on Friday. The banks would also need to raise capital from other sources equivalent to 50 percent of the amount they receive, Finance Minister Anton Siluanov Siluanov said in an emailed statement giving details of the scheme announced in December. Banks are facing growing
  
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• UPDATE 3-Honeywell draws strength from US demand

  23-01-2015 19:33
  * Shares rise as much as 4.6 pct (Adds CFO comment, background; Updates share move)
  
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• Moody's drops Atlantic City credit rating, fears default

  23-01-2015 19:30 via news.yahoo.com
  
  ATLANTIC CITY, N.J. (AP) — Wall Street is looking at Atlantic City's financial future, and doesn't like what it sees.
  
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