Finance news

• Apple iPhone sales top expectations

  27-01-2015 23:46 via news.yahoo.com
  
  Apple Inc quarterly results smashed Wall Street expectations with record sales of iPhone 6 and 6 Plus smartphones in the holiday shopping season and strong sales in China, although the United States remained the top iPhone market. Apple Chief Financial Officer Luca Maestri told Reuters in an interview that the company did not sell more iPhones in China than the United States, despite some earlier predictions by research analysts.
  
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• UPDATE 3-U.S. Democrats hold off on new Iran sanctions vote -for now

  27-01-2015 23:46
  WASHINGTON, Jan 27 (Reuters) - Key Democratic U.S. senators said on Tuesday they would put off supporting new Iran sanctions for at least two months, after a threat by President Barack Obama to veto...
  
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• AT&T results beat Wall Street, shares rise after hours

  27-01-2015 23:42 via news.yahoo.com
  
  By Malathi Nayak SAN FRANCISCO (Reuters) - AT&T Inc on Tuesday posted a quarterly net loss that was slightly slimmer than Wall Street expected, as its mobile device deals attracted more customers, but its users switched to other networks at a higher rate. AT&T shares rose 1.6 percent in after-hours trading after closing at $32.81 on the New York Stock Exchange. Excluding items, AT&T earned 55 cents per share, a penny more than analysts' forecasts. Faced with intense competition
  
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• University of Maine Board votes to divest from coal

  27-01-2015 23:40
  Jan 27 (Reuters) - The University of Maine Board of Trustees has unanimously agreed to divest from direct holdings in coal-mining companies.
  
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• Apple iPhone sales top expectations but China market No. 2 to U.S.

  27-01-2015 23:35 via news.yahoo.com
  
  Apple Inc quarterly results smashed Wall Street expectations with record sales of iPhone 6 and 6 Plus smartphones in the holiday shopping season and strong sales in China, although the United States remained the top iPhone market. Apple Chief Financial Officer Luca Maestri told Reuters in an interview that the company did not sell more iPhones in China than the United States, despite some earlier predictions by research analysts.
  
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• UPDATE 2-Brazil's Rousseff urges cabinet to back belt-tightening

  27-01-2015 23:29
  BRASILIA, Jan 27 (Reuters) - Brazil's President Dilma Rousseff urged her cabinet on Tuesday to embrace fiscal belt-tightening and other measures aimed at restoring business confidence and growth in...
  
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• Toronto's Billy Bishop airport terminal sold to AGF-led consortium

  27-01-2015 23:25
  TORONTO, Jan 27 (Reuters) - A consortium that includes asset management firm InstarAGF Asset Management Inc and fund manager AGF Management sealed a deal on Tuesday to acquire the passenger terminal...
  
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• BUZZ-U.S. Steel Corp: Better-than-expect Q4 profit boosts shares

  27-01-2015 23:24
  ** U.S. steelmaker's shares up 8.9 pct at $23.16 in extended trading
  
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• Stocks drop on weak earnings, U.S. durables; dollar slips

  27-01-2015 23:22 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - World stock indexes fell on Tuesday following disappointing company earnings, while the dollar retreated after an unexpected decline in U.S. durable goods orders. All three major U.S. stock indexes ended more than 1 percent lower, with shares of Microsoft , down 9.3 percent, and Caterpillar , down 7.2 percent, leading the way down. The decline in durable goods orders also pressured U.S. stocks.
  
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• GLOBAL MARKETS-Stocks drop on weak earnings, U.S. durables; dollar slips

  27-01-2015 23:20
  * U.S. stocks fall on disappointing earnings; MSCI global index slips
  
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• Amgen tops Street 4Q forecasts

  27-01-2015 23:15 via news.yahoo.com
  
  Amgen Inc. cruised to a 27 percent jump in fourth-quarter profit and beat Wall Street expectations, due to higher sales of nearly all its medicines, tight cost controls and a tax benefit. The world's biggest ...
  
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• Canada's RBC and BMO move to cut prime rates

  27-01-2015 23:07 via news.yahoo.com
  
  Royal Bank of Canada, the country's biggest lender, said on Tuesday it would cut its prime lending rate by 15 basis points, becoming the first of Canada's big banks to trim borrowing costs nearly a week after the central bank stunned markets with a rate cut. Canada's biggest banks, which also include Toronto-Dominion Bank , Bank of Nova Scotia , Canadian Imperial Bank of Commerce and National Bank of Canada , have come under fire for not immediately cutting their lending rates aft
  
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• AT&T posts slight beat in fourth-quarter earnings

  27-01-2015 23:04 via news.yahoo.com
  
  By Malathi Nayak SAN FRANCISCO (Reuters) - AT&T Inc on Tuesday reported earnings and quarterly revenue that slightly beat Wall Street expectations as its mobile device deals attracted more customers. Shares in AT&T were up 2 percent in after-hours trading after closing at $32.81 on the New York Stock Exchange. AT&T said it had added more than 2 million new wireless customers and 854,000 contract subscribers in the quarter.
  
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• UPDATE 1-Canada's RBC and BMO move to cut prime rates

  27-01-2015 23:04
  TORONTO, Jan 27 (Reuters) - Royal Bank of Canada, the country's biggest lender, said on Tuesday it would cut its prime lending rate by 15 basis points, becoming the first of Canada's big banks to...
  
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• AT&T posts slight beat in 4th-qtr earnings

  27-01-2015 23:03 via news.yahoo.com
  
  By Malathi Nayak SAN FRANCISCO (Reuters) - AT&T Inc on Tuesday reported earnings and quarterly revenue that slightly beat Wall Street expectations as its mobile device deals attracted more customers. Shares in AT&T were up 2 percent in after-hours trading after closing at $32.81 on the New York Stock Exchange. AT&T said it had added more than 2 million new wireless customers and 854,000 contract subscribers in the quarter.
  
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• NYC economy lost $200M from fizzled storm, transit shutdown

  27-01-2015 22:58 via news.yahoo.com
  
  NEW YORK (AP) — New York City lost about $200 million in economic activity in the fizzled snow storm and decision to shut down the transit system, but it wasn't a crippling loss, according to a preliminary estimate from Moody's Analytics.
  
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• Canadian National Railway earnings beat, raises dividend

  27-01-2015 22:57 via news.yahoo.com
  
  TORONTO (Reuters) - Canadian National Railway Co earnings rose in the fourth quarter, topping expectations on a boost from higher volumes and more efficient operations, the company said on Tuesday, and it boosted its dividend. CN Rail, Canada's biggest railway, raised its quarterly dividend 25 percent to 31.25 Canadian cents per common share. CN Rail's operating ratio, a key efficiency measure, improved 4.1 points to 60.7 percent for the fourth quarter, but lagged CP Rail's 59.8 percent operatin
  
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• Global tourist numbers up 4.7 percent in 2014

  27-01-2015 22:55 via news.yahoo.com
  
  International tourist arrivals rose by 4.7 percent to 1.14 billion in 2014, with the Americas and Asia posting the strongest growth, but will rise at a slower pace this year, a UN body said Tuesday. "Over the past years, tourism has proven to be a surprisingly strong and resilient economic activity," the Madrid-based World Tourism Organisation's secretary general, Taleb Rifai, said in a statement. The UN body had forecast tourist arrivals to rise by 4.0-4.5 percent in 2014. It see
  
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• Wall Street falls 1 percent on earnings; Apple rallies late

  27-01-2015 22:52 via news.yahoo.com
  
  The day's losses were broad, with nine of the 10 primary S&P 500 sectors lower on the day, though tech was the biggest drag by far. The group lost 3.3 percent in its biggest one-day drop since November 2011, in the wake of results from industry bellwether Microsoft. Industrial shares fell, led by Caterpillar. The two names were the biggest decliners on the Dow, but fellow components Procter & Gable and DuPont Co also tumbled.
  
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• Australian shares seen tracking Wall St lower

  27-01-2015 22:40
  SYDNEY, Jan 28 (Reuters) - Australian stocks are likely to open lower on Wednesday with investors poised to book some profits following a disappointing performance on Wall Street. Stock index futures...
  
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• Fed meets with rate hike looming

  27-01-2015 22:40 via news.yahoo.com
  
  The Federal Reserve opened its first monetary policy meeting of the year Tuesday to take the pulse of the US economy and mull the first interest rate hike since 2006. The Federal Open Market Committee, the central bank's policy arm, gathered as a powerful snowstorm blanketed the Northeast, grinding activities to a halt, in a reminder of the unusually severe winter weather in the first quarter of 2014 that helped to push the economy into contraction. The FOMC meeting "will provide anoth
  
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• BRIEF-Apple CFO says sold more iphones in U.S. than China in Q1

  27-01-2015 22:38
  * Apple CFO says sold more iphones in the U.S. than China in fiscal Q1
  
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• BRIEF-Apple Q1 earnings per share $3.06

  27-01-2015 22:36
  * Apple Q1 earnings per share $3.06; Q1 rev $74.6 bln vs $57.6 bln
  
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• UPDATE 2-U.S. says 9.5 mln people enroll for 2015 Obamacare insurance

  27-01-2015 22:34
  Jan 27 (Reuters) - More than 9.5 million people have signed up for 2015 individual health insurance on the new exchanges created under the national healthcare reform law, the U.S. government said on...
  
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• Caterpillar and Microsoft are big market movers

  27-01-2015 22:32 via news.yahoo.com
  
  Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Caterpillar Inc., down $6.18 to $79.85 The construction equipment company reported ...
  
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• Record unemployment in France in December

  27-01-2015 22:30 via news.yahoo.com
  
  Unemployment in France hit a new record in December, with official statistics published Tuesday showing 3.496 million people claiming jobless benefits. President Francois Hollande has pledged not to seek re-election in 2017 if he fails to bring down stubbornly high unemployment. France's economy is barely growing, showing a gain of just 0.3 percent in the third quarter of last year. Nevertheless, most economists believe that France, the eurozone's second largest economy, needs a growth
  
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• AT&T fourth-quarter revenue rises

  27-01-2015 22:29 via news.yahoo.com
  
  SAN FRANCISCO (Reuters) - AT&T Inc on Tuesday reported higher quarterly revenue, slightly above Wall Street forecasts. The second-largest U.S. wireless carrier posted a net loss of $4 billion, or 77 cents per share, in the fourth quarter, compared with net income $6.9 billion, or $1.31 per share, in the year-ago quarter. Excluding items, AT&T earned 55 cents per share. Revenue rose to $34.4 billion from $33.16 billion in the year-ago quarter. Wall Street analysts, on average, expected $3
  
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• Royal Bank of Canada first Canadian bank to cut prime rate

  27-01-2015 22:28 via news.yahoo.com
  
  The Royal Bank of Canada, Canada's biggest lender, said on Tuesday it would cut its prime lending rate by 15 basis points, becoming the first of Canada's big banks to trim borrowing costs nearly a week after the central bank stunned markets with a rate cut. The move by RBC takes its prime rate to 2.85 percent from 3.0 percent and is effective Wednesday, RBC said. It is the first of Canada's big six banks to cut its prime lending rate in the wake of the Bank of Canada's surpri
  
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• Oil rebounds sharply from six-year lows as dollar eases

  27-01-2015 22:27 via news.yahoo.com
  
  Oil prices rebounded Tuesday from six-year lows as the dollar weakened after disappointing US economic data . The US benchmark, West Texas Intermediate (WTI) for March delivery, rose $1.08 (2.4 percent) to close at $45.16 a barrel. Brent North Sea crude for March settled at $49.60 a barrel in London, up $1.44 from Monday's closing level. "The market has found a bottom in the mid-40 range," said Kyle Cooper of IAF Advisors.
  
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• UPDATE 8-Blizzard pounds U.S. northeast, New York spared its brunt

  27-01-2015 22:26
  BOSTON/NEW YORK, Jan 27 (Reuters) - A U.S. blizzard swept past New York City and struck hardest at some 4.5 million people around Boston, dropping nearly three feet of snow in areas and triggering...
  
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• Wall Street ends down 1 pct on Caterpillar, Microsoft earnings

  27-01-2015 22:23 via news.yahoo.com
  
  The group lost 3.3 percent in its biggest one-day drop since November 2011, in the wake of results from industry bellwether Microsoft. Industrial shares fell, led by Caterpillar. The two names were the biggest decliners on the Dow, but fellow components Procter & Gable and DuPont Co also tumbled. Microsoft fell 9.3 percent to $42.66 a day after the main engine of its historic earnings power - selling Windows and Office to big businesses - showed signs of waning.
  
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• Wall St. ends down 1 percent on Caterpillar, Microsoft earnings

  27-01-2015 22:21 via news.yahoo.com
  
  The group lost 3.3 percent in its biggest one-day drop since November 2011, in the wake of results from industry bellwether Microsoft. Industrial shares fell, led by Caterpillar. The two names were the biggest decliners on the Dow, but fellow components Procter & Gable (PG.N) and DuPont Co (DD.N) also tumbled. Microsoft (MSFT.O) fell 9.3 percent to $42.66 a day after the main engine of its historic earnings power - selling Windows and Office to big businesses - showed signs of waning.
  
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• US stocks sink on weak earnings; Nasdaq -1.9%

  27-01-2015 22:10 via news.yahoo.com
  
  New York (AFP) - Wall Street stocks finished sharply lower Tuesday following a disappointing stream of corporate earnings and mixed US economic data.
  
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• Wall Street back to 'business as usual' as storm wanes

  27-01-2015 22:09 via news.yahoo.com
  
  By John McCrank and Lauren Tara LaCapra NEW YORK (Reuters) - Wall Street was largely back to business as usual on Tuesday after a storm that had threatened to blanket New York with a few feet of snow ended up dumping several inches instead. "The storm was a bit of a bust," Jamie Selway, managing director and head of electronic brokerage at Investment Technology Group, said on Tuesday morning. The New York Stock Exchange, a unit of Intercontinental Exchange Inc, was open for business as
  
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• Detroit may offer city workers half off on vacant homes

  27-01-2015 22:09
  DETROIT, Jan 27 (Reuters) - Detroit may offer city employees
  a 50 percent discount on homes sold through the city's auction
  program as part of its efforts to rebound after exiting its
  historic...
  
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• Wall St. ends sharply lower on earnings

  27-01-2015 22:03 via news.yahoo.com
  
  U.S. stocks closed more than 1 percent lower on Tuesday as disappointing results from bellwether companies pointed to weakening conditions, while an unexpected decline in durable goods orders also weighed ...
  
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• TREASURIES-Debt ends mixed after 30-year yield hits record low

  27-01-2015 22:02 via news.yahoo.com
  
  U.S. Treasury debt prices ended mixed on Tuesday after 30-year yields touched record lows amid data-driven worries about sputtering world growth and a sharp sell-off on Wall Street. Earlier the yield hit a record low of 2.328 percent after the Commerce Department said non-defense capital goods orders excluding aircraft fell 0.6 percent last month. "The idea that lower oil costs are nothing but a tax rebate or a decline in tax on consumption is running into the first wave of hard economic data in
  
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• German government raises 2015 growth forecast to 1.5%

  27-01-2015 22:02 via news.yahoo.com
  
  The German government is forecasting economic growth of 1.5 percent this year, higher than originally expected, according to the economy ministry's annual report obtained by AFP on Tuesday. Initially, the government had been pencilling in gross domestic product (GDP) growth of 1.3 percent for this year after it expanded by 1.5 percent in 2014. Last year, the German economy, Europe's biggest, enjoyed strong growth in the first quarter but suffered a sharp slowdown in subsequent quarters
  
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• Greek rejection of bailout terms would be 'fatal': Bundesbank member

  27-01-2015 21:53 via news.yahoo.com
  
  A member of Germany's central bank, the Bundesbank, warned Athens on Tuesday of "fatal consequences" for the Greek banking system of a halt to the country's bailout programme. "If the continuation of the programme of aid for Greece is called into question... Greek banks would lose access to central bank funds," Joachim Nagel said in an interview to appear Wednesday. "It would have fatal consequences for the Greek financial system," Nagel, a member of the B
  
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• Albertsons, Safeway to sell 168 stores to get merger okay

  27-01-2015 21:49
  
  WASHINGTON (Reuters) - Supermarket chains Albertsons and Safeway agreed to sell 168 stores in eight states to win U.S. antitrust approval for their $9.2 billion merger, the Federal Trade Commission...
  
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• A US green-energy blueprint, meant to help Liberia, fails

  27-01-2015 21:44 via news.yahoo.com
  
  BUCHANAN, Liberia (AP) — On paper, the pitch was simple: A green energy company backed by $217 million in U.S. government loans would convert one of Africa's poorest countries into the world's first biomass-driven economy. But the plan to help Liberia collapsed amid questionable business decisions and oversight.
  
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• Wisconsin governor proposes bond plan for new NBA arena

  27-01-2015 21:44 via news.yahoo.com
  
  (Reuters) - Wisconsin Governor Scott Walker on Tuesday proposed a plan that would help fund a new arena for the National Basketball Association's Milwaukee Bucks by tapping into expected growth in players' income tax payments. The Republican governor said his first-of-its-kind plan, dubbed "Pay Their Way," would spur economic growth while ensuring taxpayers would not be left picking up the tab. The plan would create a nine-member sports and entertainment district to pay off $
  
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• UPDATE 2-U.S. miner Cliffs seeks creditor protection in Canada

  27-01-2015 21:43
  TORONTO, Jan 27 (Reuters) - Iron ore and coal miner Cliffs
  Natural Resources has become the third major U.S.
  company in the past six months to seek creditor protection for
  its Canadian arm to try to...
  
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• UPDATE 2-Coal miner Peabody cuts dividend as demand remains weak

  27-01-2015 21:32
  * Shares plunge to 12-yr low of $6.01 (Adds analyst comment, background, updates shares)
  
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• UPDATE 1-Judge to rule Wednesday if Caesars' bankruptcy stays in Chicago

  27-01-2015 21:27
  WILMINGTON, Del, Jan 27 (Reuters) - The operating unit of
  Caesars Entertainment Corp will learn Wednesday whether
  its bankruptcy will proceed in Chicago, where the casino company
  filed for Chapter 11...
  
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• Canada Liberals can lift spending and avoid deficits: Trudeau

  27-01-2015 21:24 via news.yahoo.com
  
  By David Ljunggren and Randall Palmer OTTAWA (Reuters) - If Canada's opposition Liberals win the election set for this October they would be able to boost spending on their priorities without necessarily running a budget deficit, party leader Justin Trudeau told Reuters on Tuesday. Trudeau's centrist Liberals are neck and neck with the governing right-of-center Conservatives in the runup to the election. Prime Minister Stephen Harper's Conservatives, who have been in power since e
  
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• Canada's opposition leader proposes tax relief for small business

  27-01-2015 20:53 via news.yahoo.com
  
  The leader of Canada's left-leaning main opposition party proposed a tax cut for small businesses on Tuesday as he laid out some details of the party's economic plan ahead of October's general election. New Democratic Party (NDP) leader Thomas Mulcair said he would reduce the small business tax rate to an eventual 9 percent from 11 percent, with a cut to 10 percent to be effective immediately if the party takes office. "Small- and medium-sized businesses create the most jobs
  
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• Judge says to rule Wednesday on Caesars' bankruptcy venue

  27-01-2015 20:50
  WILMINGTON, Del, Jan 27 (Reuters) - The operating unit of
  Caesars Entertainment Corp will get a ruling Wednesday
  at 11 a.m. on whether its bankruptcy will proceed in Chicago,
  where the casino company...
  
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• BRIEF-Judge says to rule Wednesday on venue for Chapter 11 of operating unit of Caesars Entertainment

  27-01-2015 20:45
  Jan 27 (Reuters) - Caesars Entertainment Operating Co Inc:
  * U.S. bankruptcy judge says will rule Wednesday on venue for
  chapter 11 of
  
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• Finance minister Varoufakis: Greece's 'Dr Doom'

  27-01-2015 20:42 via news.yahoo.com
  
  Yanis Varoufakis, handed the potentially explosive role of finance minister in Greece's new anti-austerity government, is known as "Dr Doom" over his stance on the country's deep economic woes. Varoufakis believes the shattered country can never begin to recover until its massive international rescue package is completely renegotiated. Varoufakis, a shaven-headed 53-year-old economist who has taught at universities in England, Australia, Greece and the United States among oth
  
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