Finance news

• GLOBAL-MARKETS-Euro bounces back, global stocks up after Greek vote

  26-01-2015 23:40
  * European shares rise, euro rebounds (Updates with U.S. closing prices)
  
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• UPDATE 3-U.S. deficit to dip in 2015 as era of dramatic declines ends -CBO

  26-01-2015 23:38
  WASHINGTON, Jan 26 (Reuters) - The U.S. budget deficit will decline slightly to $468 billion this fiscal year, the lowest level since President Barack Obama took office, congressional forecasters...
  
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• Microsoft profit falls on sluggish Windows, currency pressure

  26-01-2015 23:17 via news.yahoo.com
  By Bill Rigby SEATTLE (Reuters) - Microsoft Corp on Monday reported a fall in its quarterly profit that was in line with Wall Street forecasts, as sluggish personal computer sales dampened demand for Windows software and the company struggled with the impact of the strong U.S. dollar. "While currency is a headwind for Microsoft and other large international companies, we would characterize the headline numbers as good enough, although some bulls may have been hoping for a bigger beat,"
  
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• UPDATE 3-AT&T to buy NII Holdings' wireless business in Mexico

  26-01-2015 23:11
  Jan 26 (Reuters) - AT&T Inc said on Monday it would buy bankrupt NII Holdings Inc's wireless business in Mexico for $1.875 billion in a move to create a larger Mexican wireless player that will have...
  
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• Wall Street left with skeleton crews down as blizzard bears down

  26-01-2015 23:11 via news.yahoo.com
  
  By John McCrank and Richard Leong NEW YORK (Reuters) - A blizzard bearing down on New York hollowed out Wall Street offices on Monday, leaving most investment banks and fund managers with skeleton staffs as many employees opted to work from home. "No one will give me a medal for making it to work after a five-hour commute," said Anurag Bhardwaj, a managing director who works with hedge funds at Barclays Capital in New York, who expected to work from home on Tuesday. Big investment banks, which s
  
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• UPDATE 5-Wall Street left with skeleton crews down as blizzard bears down

  26-01-2015 23:09
  NEW YORK, Jan 26 (Reuters) - A blizzard bearing down on New York hollowed out Wall Street offices on Monday, leaving most investment banks and fund managers with skeleton staffs as many employees...
  
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• CANADA FX DEBT-C$ hits 5-1/2 year lows as another rate cut eyed

  26-01-2015 23:00
  * Canadian dollar at C$1.2464 or 80.23 U.S. cents * Bond prices mixed across the maturity curve By Solarina Ho TORONTO, Jan 26 (Reuters) - The Canadian dollar continued to test new 5-1/2 lows against...
  
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• United Tech cuts 2015 forecasts on currency worries

  26-01-2015 22:57 via news.yahoo.com
  
  (Reuters) - United Technologies Corp on Monday cut its full-year outlook because of the negative impact of a stronger dollar even as the U.S. conglomerate reported higher quarterly earnings on a rise in profit at its aerospace businesses. The diversified manufacturer of Pratt & Whitney jet engines and Otis elevators also posted fourth-quarter revenue just shy of Wall Street's target. United Technologies said fourth-quarter net income rose 0.7 percent to $1.47 billion (£975 million) from the sam
  
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• UPDATE 1-Some Atlantic City bond yields hit record highs

  26-01-2015 22:49
  Jan 26 (Reuters) - Yields on some debt issued by Atlantic City rose to all-time highs in secondary market trading on Monday after the appointment of an emergency manager for the financially...
  
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• Caesars makes its pitch for Chicago as bankruptcy venue

  26-01-2015 22:47
  WILMINGTON, Del. (Reuters) - The casino operating unit of Caesars Entertainment Corp should be allowed to choose where to file for bankruptcy even if it misbehaved, the company's lawyers argued on...
  
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• UPDATE 1-Ocwen calls investor claims baseless

  26-01-2015 22:46
  Jan 26 (Reuters) - Mortgage servicer Ocwen Financial Group said on Monday a group of investors had no basis for claiming it failed to live up to its agreements to collect payments on $82 billion...
  
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• UPDATE 1-Caesars makes its pitch for Chicago as bankruptcy venue

  26-01-2015 22:41
  WILMINGTON, Del., Jan 26 (Reuters) - The casino operating unit of Caesars Entertainment Corp should be allowed to choose where to file for bankruptcy even if it misbehaved, the company's lawyers...
  
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• Microsoft profit falls on sluggish Windows demand, tax charge

  26-01-2015 22:41 via news.yahoo.com
  
  Microsoft Corp said on Monday fiscal second-quarter profit fell, in line with Wall Street's forecasts, as sluggish personal computer sales dampened demand for Windows software and the company struggled with unfavorable currency moves against the strong U.S. dollar. "While currency is a headwind for Microsoft and other large international companies, we would characterize the headline numbers as good enough, although some bulls may have been hoping for a bigger beat," said Daniel Iv
  
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• Texas Instruments fourth-quarter revenue slightly exceeds Wall Street view

  26-01-2015 22:39 via news.yahoo.com
  
  SAN FRANCISCO (Reuters) - Texas Instruments Inc posted fourth-quarter revenue of $3.27 billion (£2 billion), up 8 percent from the year-ago period and slightly above Wall Street forecasts as it deepe...
  
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• UPDATE 3-S&P downgrades Russia's sovereign credit rating to "junk"

  26-01-2015 22:23
  * Russia hit by sanctions, oil price fall (Adds Finance Minister comments)
  
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• Wall Street rises after Greek elections; energy climbs

  26-01-2015 22:22 via news.yahoo.com
  By Lucas Iberico Lozada NEW YORK (Reuters) - U.S. stocks edged higher on Monday as investors brushed off fears a leftist victory in Greece would bring fresh crisis to the Eurozone and energy stocks advanced. "There was a lot of trepidation in the market going into the Greek election ... but by this morning the Syriza win was priced into the market already," said Robert Francello, head of equity trading for Apex Capital in San Francisco. Energy stocks led gains on major U.S. indices aft
  
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• Exclusive: HighTower Advisors secures another $50 million in credit

  26-01-2015 22:16
  NEW YORK (Reuters) - Chicago-based independent broker-dealer HighTower Advisors LLC said on Monday it received a $50 million credit line as SunTrust Banks Inc joined HighTower's other lenders, BMO...
  
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• TREASURIES-Bonds end on soft note as snowstorm slows trading

  26-01-2015 22:14
  NEW YORK, Jan 26 (Reuters) - U.S. Treasury debt prices slipped on Monday ahead of $90 billion of fixed-rate supply and a Federal Reserve meeting later this week in a session marked by low volumes as...
  
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• US stock market finishes with small gains

  26-01-2015 22:12 via news.yahoo.com
  
  NEW YORK (AP) — The U.S. stock market is finishing with tiny gains as investors weigh corporate earnings, mergers, and the implications of an election victory in Greece by a party opposed to that country's bailout plan.
  
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• Greek debt reduction 'not on radar': European Commission chief

  26-01-2015 22:10 via news.yahoo.com
  
  EU Commission chief Jean-Claude Juncker warned Monday that Greece cannot expect any reduction of its huge debt commitments after the far-left, anti-austerity Syriza party won a stunning election victory. The head of the Eurogroup, Dutch Finance Minister Jeroen Dijsselbloem, warned Greece earlier that the problems facing the Greek economy had "not disappeared" with Syriza's victory.
  
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• UPDATE 4-Northeast U.S. braves 'crippling' blizzard

  26-01-2015 22:08
  NEW YORK/MAPLEWOOD, N.J., Jan 26 (Reuters) - A massive blizzard slammed into the U.S. Northeast on Monday, canceling thousands of flights, curtailing mass transit and closing hundreds of schools, as...
  
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• Energy, biotech lift Wall Street despite Greek worries

  26-01-2015 22:07 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks edged higher on Monday as fears that a leftist victory in elections in Greece would bring fresh crisis to the Eurozone were offset by a climb in energy and biotech stocks.
  
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• UPDATE 2-Canada's Oliver promises balanced budget, won't cut spending

  26-01-2015 22:02
  OTTAWA, Jan 26 (Reuters) - Canadian Finance Minister Joe Oliver insisted on Monday that the government would balance next year's budget despite falling oil prices and said the country's economy would...
  
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• Fed faces red flags as it taxis toward rate liftoff

  26-01-2015 21:58 via news.yahoo.com
  
  The Federal Reserve taxis toward a liftoff this year in interest rates in a meeting that begins Tuesday, with signs of weakness in the US economy raising questions about timing. The Fed is expected to stay the course on monetary policy in its statement Wednesday and stress patience in waiting to see whether the economy is strong enough to withstand the first increase in the federal funds rate since 2006. Since the December meeting of the Federal Open Market Committee (FOMC), the central bank
  
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• U.S. Treasury could extend borrowing to September or October-CBO

  26-01-2015 21:51
  WASHINGTON, Jan 26 (Reuters) - The U.S. Treasury Department can probably extend its borrowing capacity until September or October through extraordinary cash management measures if Congress fails to...
  
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• U.S. charges three in alleged Russian spy ring in NYC

  26-01-2015 21:42 via news.yahoo.com
  
  By Jonathan Stempel and Nate Raymond NEW YORK (Reuters) - The U.S. government on Monday unveiled criminal charges against three men for their alleged involvement in a Russian spy ring operating in New York City. Evgeny Buryakov, Igor Sporyshev and Victor Podobnyy conspired to gather economic intelligence on behalf of Russia, including alleged information about U.S. sanctions against the country, and to recruit New York City residents as intelligence sources, U.S. Attorney General Eric Holder sai
  
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• Europe's anti-austerity front hails Syriza win

  26-01-2015 21:34 via news.yahoo.com
  
  Radical left party Syriza's victory in Greece's election was welcomed by anti-austerity movements across Europe Monday, led by Spain's Podemos, which vowed to also win power this year. Populist left- and right-wing opposition parties from Britain and Ireland to France, Italy, Spain and Portugal hailed Syriza's win as a repudiation of the tough budget cuts imposed by their mainstream rivals in the recent economic crisis. Syriza, Podemos, we will win," said Pablo Iglesias,
  
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• Canada finance minister, pressed on C$, says it is free-floating

  26-01-2015 21:33
  OTTAWA, Jan 26 (Reuters) - Canada Finance Minister Joe Oliver, pressed about the sliding value of the Canadian dollar, on Monday said the currency was free-floating.
  
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• Modi promises business-friendly India to US executives

  26-01-2015 21:27 via news.yahoo.com
  
  Prime Minister Narendra Modi vowed to banish India's reputation as a tough place to do business Monday, telling US President Barack Obama and American CEOs that he would ease off on taxes and encourage innovation. As he promised a more "competitive" tax regime, Modi also pledged to address concerns about intellectual property that have long irked potential investors in Asia's third-largest economy. Obama, who is in the middle of a three-day visit to India, hailed the new chan
  
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• Canada's Oliver promises balanced budget, won't cut spending

  26-01-2015 21:25 via news.yahoo.com
  
  Canadian Finance Minister Joe Oliver insisted on Monday that the government would balance next year's budget despite falling oil prices and said the country's economy would outperform most of its rivals. Oliver, pressed by opposition legislators about the economy, also told the House of Commons that the government would not cut spending as revenues fell. Oil prices have sunk by more than half from their peak last June. Oliver, who insists Ottawa will balance the books in the 2015/16 fi
  
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• NJ's Atlantic City to reschedule note sale after blizzard

  26-01-2015 21:25
  Jan 26 (Reuters) - Atlantic City, New Jersey's financially distressed gambling hub, plans to reschedule a $12 million note sale for later this week, a city official said on Monday.
  
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• UPDATE 3-Mattel removes CEO, warns of 5th straight fall in quarterly sales

  26-01-2015 21:17
  Jan 26 (Reuters) - Mattel Inc removed Chief Executive Brian Stockton after another disappointing holiday shopping season for the maker of the aging Barbie doll.
  
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• UPDATE 1-Ohio sues over Obamacare taxes on state, local governments

  26-01-2015 21:16
  Jan 26 (Reuters) - The state of Ohio filed a lawsuit on Monday that claims Obamacare tax assessments against state and local governments for public employee health plans are unconstitutional.
  
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• Russia defiant after more threats from West over Ukraine

  26-01-2015 21:12 via news.yahoo.com
  
  MOSCOW (AP) — A defiant President Vladimir Putin on Monday called the Ukrainian army a "NATO foreign legion," reflecting his readiness to stand up to the West regardless of rising economic costs, as Standard & Poor's rating agency downgraded Russia's credit rating to junk.
  
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• Russian finance minister says S&P downgrade shows 'pessimism'

  26-01-2015 21:06 via news.yahoo.com
  
  MOSCOW (Reuters) - Russian Finance Minister Anton Siluanov said on Monday S&P's decision to downgrade Russia's credit rating to junk status showed the "pessimism" of the agency and failed to take into consideration stronger aspects of the Russian economy.
  
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• Wall Street hunkers down as blizzard roars into region; exchanges open

  26-01-2015 21:04 via news.yahoo.com
  
  By John McCrank and Richard Leong NEW YORK (Reuters) - Wall Street traders scrambled to get home or booked hotel rooms on Monday as a potentially historic blizzard bore down on the U.S. northeast, prompting some banks to close branches in the region, though major exchanges said they would remain open as usual. "No one will give me a medal for making it to work after a five-hour commute," said Anurag Bhardwaj, a managing director who works with hedge funds at Barclays Capital in Manhattan, who ex
  
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• Global oil prices likely to stay relatively low -Biden

  26-01-2015 20:58
  WASHINGTON, Jan 26 (Reuters) - Global oil prices are likely to remain relatively low over the next several years, U.S. Vice Joe Biden told a Caribbean energy security summit on Monday.
  
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• S&P downgrades Russia's sovereign credit rating to 'junk'

  26-01-2015 20:56 via news.yahoo.com
  
  By Thomas Grove and Lidia Kelly MOSCOW (Reuters) - Ratings agency S&P cut Russia's sovereign credit rating to below investment grade, or "junk" status, on Monday for the first time in a decade. S&P said in a statement it had cut the rating from BBB- to BB+, with a negative outlook, and that Russia's economic growth prospects - hit by low oil prices and Western sanctions in the Ukraine crisis - had weakened. "The downgrade throws into stark relief the severity of
  
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• UPDATE 2-EU open to later Greek debt repayment, not forgiveness

  26-01-2015 20:56
  * Greece must get bailout extension, discuss reforms with lenders
  
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• UPDATE 2-S&P downgrades Russia's sovereign credit rating to "junk"

  26-01-2015 20:54
  MOSCOW, Jan 26 (Reuters) - Ratings agency S&P cut Russia's sovereign credit rating to below investment grade, or "junk" status, on Monday for the first time in a decade.
  
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• S&P cuts Russia credit rating to 'junk'

  26-01-2015 20:51 via news.yahoo.com
  
  Standard and Poor's stripped Russia of its investment-grade rating on Monday, cutting it to "junk" status with a warning of weak growth and banks. "The downgrade reflects our view that Russia's monetary policy flexibility has become more limited and its economic growth prospects have weakened," the ratings agency said in a statement announcing the one-notch cut to a 'BB+' rating. The plunge in oil prices and Western sanctions over Moscow's role in the
  
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• Canada's Oliver promises balanced budget, cites growth forecasts

  26-01-2015 20:46 via news.yahoo.com
  
  OTTAWA (Reuters) - Canadian Finance Minister Joe Oliver on Monday insisted that the government would balance the next year's budget despite falling oil prices and said the country's economy would outperform most of its rivals. Oliver, pressed by opposition legislators about the state of the economy, also told the House of Commons that the manufacturing sector would be helped by the slumping price of crude oil. (Reporting by David Ljunggren; Editing by Alan Crosby)
  
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• Man fatally shoots self outside News Corp building in New York

  26-01-2015 20:28 via news.yahoo.com
  
  A man shot and killed himself in an apparent suicide on Monday outside the News Corp office building in midtown Manhattan, police said. The 41-year-old man, whose identity was not officially released, shot himself in the chest outside 1211 Sixth Avenue and was taken to Bellevue Hospital, where he was pronounced dead, according to the New York Police Department. The Wall Street Journal and other local media identified the man as Phillip Perea, a former employee of a Fox television station in Aust
  
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• Schaeuble says Tsipras can find a 'different way' if he wants

  26-01-2015 20:24 via news.yahoo.com
  
  German Finance Minister Wolfgang Schaeuble said on Monday Greece's leader Alexis Tsipras would have to "find a different way" to solve Greece's problems if he says he does not want money from the euro zone bailout program. According to an advance excerpt of an interview to be broadcast on ZDF television on Monday, Schaeuble said the euro zone's rescue programs have until now only gone to governments that requested them. "We'll have to see what the new government is planning," Schaeuble told ZDF,
  
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• CBO: Deficit to shrink to lowest level of Obama presidency

  26-01-2015 20:16 via news.yahoo.com
  
  WASHINGTON (AP) — Solid economic growth will help the federal budget deficit shrink this year to its lowest level since President Barack Obama took office, according to congressional estimates released Monday.
  
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• Wall Street flat after Greek leftists' victory; energy stocks up

  26-01-2015 20:13 via news.yahoo.com
  
  By Lucas Iberico Lozada NEW YORK (Reuters) - U.S. stocks were little changed on Monday as fears that a leftist victory in Greece would bring fresh crisis to the Eurozone were offset by a slight recovery in energy stocks. "There was a lot of trepidation in the market going into the Greek election ... but by this morning the Syriza win was priced into the market already," said Robert Francello, head of equity trading for Apex Capital in San Francisco. At 1:58 p.m. (1858 GMT) the Dow Jone
  
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• Euro zone ready to work with Syriza, says Greece's problems remain

  26-01-2015 20:12 via news.yahoo.com
  
  Euro zone finance ministers said they were ready to work with the new anti-bailout government Greek government, but warned the country that its deep economic problems had not changed because of an election, the chairman of the ministers said on Monday. "We are very motivated to work with the new Greek government to maintain the recovery path," Jeroen Dijsselbloem, who chaired the meeting of the ministers said after the meeting. He said he had earlier spoken to the likely new Greek finance minist
  
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• Russian rouble weakens sharply after S&P downgrade

  26-01-2015 20:00 via news.yahoo.com
  
  MOSCOW (Reuters) - Russia's rouble weakened sharply late on Monday to trade around 5 percent lower against the U.S. dollar after ratings agency S&P downgraded Russia's sovereign credit rating to below investment grade. The rouble was trading at 67.56 at 1824 GMT, around 5 percent weaker than the previous close on the Moscow Exchange. (Reporting by Thomas Grove; Editing by Alexander Winning)
  
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• New Saudi leaders to press economic diversification

  26-01-2015 20:00 via news.yahoo.com
  
  Saudi Arabia's new leadership will push forward efforts to diversify the growing but oil-dependent economy, while easing procedures for investors, senior officials said on Monday. "The smooth transition of power to King Salman is a testament of the stability and the commitment that our leadership has," Abdullatif al-Othman, governor of the Saudi Arabian General Investment Authority (SAGIA), told a conference. Salman acceded to the throne of the world's leading oil exporter on
  
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• S&P strips Russia of investment-grade rating

  26-01-2015 19:59 via news.yahoo.com
  
  Standard and Poor's stripped Russia on Monday of its investment-grade rating, cutting it by one notch to 'BB+' into speculative territory with a warning of weak growth and banks. "The downgrade reflects our view that Russia's monetary policy flexibility has become more limited and its economic growth prospects have weakened," the ratings agency said in a statement. The plunge in oil prices and Western sanctions have pummelled the Russian economy in recent months, wi
  
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