Finance news

• Greece outlines debt 'menu' in bid to win over sceptical euro zone

  02-02-2015 23:42 via news.yahoo.com
  
  By William James and Renee Maltezou LONDON/ATHENS (Reuters) - Greece's new government dropped calls for a write-off of its foreign debt and proposed ending a standoff with its official creditors by swapping the debt for growth-linked bonds on Monday, a week after its election on an anti-austerity platform. Finance Minister Yanis Varoufakis, in London to reassure private investors he is not seeking a Wild West-style showdown with Brussels over a new debt agreement, said the new left-wing gov
  
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• Hardline Indian Hindus become Modi's enemies from within

  02-02-2015 23:25 via news.yahoo.com
  
  By Andrew MacAskill and Rupam Jain Nair RISHIKESH, India (Reuters) - In an ashram near the Ganges river in the Himalayan foothills, Indian priest-turned-politician Sakshi Maharaj mimes rowing a boat to illustrate what will happen if Prime Minister Narendra Modi's government ignores Hindu nationalist demands."Modi will have to be a boatman: one oar must focus on the economy and the other must concentrate on the Hindu agenda," says Maharaj, clad in saffron robes and sitting cross-le
  
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• Billionaire Steve Cohen eyes college graduates for his firm

  02-02-2015 23:16
  
  BOSTON (Reuters) - Billionaire Steven A. Cohen, who oversees only his personal fortune after decades of running one of the world's biggest hedge funds, wants to recruit newly minted college graduates...
  
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• Wall Street rallies late on Greek deal hopes; energy gains

  02-02-2015 22:57 via news.yahoo.com
  
  Greece's new government has proposed ending a standoff with its international creditors by swapping its outstanding debt for new growth-linked bonds, Finance Minister Yanis Varoufakis was quoted as saying on Monday.
  
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• Why White House disability insurance fix makes sense

  02-02-2015 22:57
  CHICAGO (REUTERS) - President Barack Obama signaled on Monday that he wants to keep 11 million disabled Americans out of a looming brawl over Social Security reform by shifting revenue between the...
  
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• Verizon close to deals to sell over $10 bln in assets - WSJ

  02-02-2015 22:42 via news.yahoo.com
  
  (Reuters) - Verizon Communications Inc is nearing wrapping up deals to sell more than $10 billion (6.65 billion pounds) in assets, the Wall Street Journal reported, citing people familiar with the matter. The planned sales include cellphone towers and parts of its landline phone business, the WSJ reported. "There are certain assets on the wireline side that we think would be better off in somebody else's hands so we can focus our energy in a little bit more narrow geography," McAd
  
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• New FCC internet speed rules expected on Thursday: DJ

  02-02-2015 22:29 via news.yahoo.com
  
  NEW YORK (Reuters) - New Federal Communications Commission rules that will regulate Internet service providers (ISPs) more like utilities are due to be proposed on Thursday, CNBC reported on Monday, citing Dow Jones Newswires. The rules, which would more fully embrace the principle known as "net neutrality," would be aimed at barring ISPs from blocking or slowing down certain websites, the Wall Street Journal reported on its website. (Reporting By Christian Plumb)
  
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• Oil prices rise on falling rig count

  02-02-2015 22:13 via news.yahoo.com
  
  World oil prices advanced Monday following data that showed US oil companies cut drilling activity in response to low prices. Analysts pointed to the weekly Baker Hughes rig count, which showed a record drop of 94 oil rigs to 1,223 for the week ending January 30. The rig count was "very bullish," said Michael Lynch of the consultancy Strategic Energy & Economic Research. The cuts in drilling rigs came on the heels of announcements by Chevron, ConocoPhillips and other major producer
  
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• Greece outlines debt 'menu' in bid to win over skeptical euro zone

  02-02-2015 22:01 via news.yahoo.com
  
  By William James and Michele Kambas LONDON/NICOSIA (Reuters) - Greece's new government has proposed ending a standoff with its international creditors by swapping its outstanding debt for new growth-linked bonds, Finance Minister Yanis Varoufakis was quoted as saying on Monday. Varoufakis, in London to reassure investors he is not seeking a Wild West-style showdown with Brussels over a new debt agreement, told the Financial Times that Athens would no longer call for a write-off of Greece’
  
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• Obama's budget: Spending delays and endangered butterflies

  02-02-2015 21:59 via news.yahoo.com
  
  WASHINGTON (AP) — When you have a quarter of the nation's $17 trillion economy to play with, it's inevitable that you and your political opponents will clash over what to do with the money.
  
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• DoubleLine Funds post record-high monthly inflow of $3 billion in January

  02-02-2015 21:44
  NEW YORK (Reuters) - DoubleLine Funds, an investment firm that has been a major competitor to bond fund Pimco, whose co-founder Bill Gross was fired last year, on Monday reported a monthly record net...
  
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• Hedge fund Elliott: government policies paved way for risky bets

  02-02-2015 21:20
  BOSTON (Reuters) - Hedge fund titan Paul Singer blamed government policies for encouraging traders to make concentrated bets in "overpriced" securities and markets and said it is "nutty" to hold...
  
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• Verizon close to deals to sell over $10 billion in assets: WSJ

  02-02-2015 21:05 via news.yahoo.com
  
  (Reuters) - Verizon Communications Inc is nearing deals to sell more than $10 billion in assets, the Wall Street Journal reported, citing people familiar with the matter. The planned sales include cellphone towers and parts of its landline phone business, the WSJ reported. (http://on.wsj.com/1Akj7ct) Different buyers are involved in the deals, which could be announced late this week, the WSJ added. A Verizon spokesman declined to comment. (Reporting by Anya George Tharakan in Bengaluru and Liana
  
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• RadioShack may close, Sprint to get half of chain: BBG

  02-02-2015 20:36 via news.yahoo.com
  
  (Reuters) - Troubled electronics retailer RadioShack Corp is preparing to shut down the chain in a bankruptcy deal that would see half the stores taken over by Sprint Corp, Bloomberg News reported, citing people with knowledge of the discussions. The rest of the stores would close down, Bloomberg said. Another bidder could yet emerge to buy RadioShack and continue operating the 94-year-old chain, Bloomberg said. The Wall Street Journal reported on Sunday that Standard General, a hedge fund and t
  
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• Stocks mostly unchanged on higher oil, weak US economic data

  02-02-2015 20:33 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stock indexes are mostly unchanged Monday afternoon following their worst month in a year. A jump in oil helped push up energy stocks, but other sectors slipped after disappointing data on the U.S. economy. European markets closed mostly higher after France endorsed Greece's efforts to ease the terms of its financial rescue program.
  
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• Sprint to take over half of RadioShack stores - Bloomberg

  02-02-2015 20:06
  Feb 2 (Reuters) - Troubled electronics retailer RadioShack
  Corp is preparing to shut down the chain in a deal that
  would see half the stores taken over by Sprint Corp,
  Bloomberg News reported, citing...
  
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• New York City tourism hit record high in 2014, officials say

  02-02-2015 19:39 via news.yahoo.com
  
  The number of tourists visiting New York City hit a historic high in 2014, attracted by its quality of life, low levels of crime and dynamism, officials said on Monday. A record 56.4 million visitors came to New York last year, generating an all-time-high $61.3 billion in overall economic impact, according to the Office of the Mayor and NYC & Co, the city's tourism and marketing organization. The tourism industry generated $3.7 billion in local tax revenues, they said. In 2013, 54.3 mil
  
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• Higher oil prices, weak economic data leave US stocks mixed

  02-02-2015 19:34 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stock indexes moved between gains and losses on Monday afternoon following their worst month in a year. A jump in oil helped push up energy stocks, but other sectors fell on disappointing data on the U.S. economy. European markets closed mostly higher after France endorsed Greece's efforts to ease the terms of its financial rescue program.
  
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• U.S. consumer spending in December weakest since 2009

  02-02-2015 19:33 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer spending recorded its biggest decline since late 2009 in December with households saving the extra cash from cheaper gasoline. Lower gasoline prices are going to provide a big lift to consumption," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania. The Commerce Department said consumer spending, which accounts for more than two-thirds of U.S. economic activity, fell 0.3 percent after gaining 0.5
  
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• French economy minister says received death threats over reforms

  02-02-2015 19:25 via news.yahoo.com
  
  French Economy Minister Emmanuel Macron has had death threats from legal officials whose profession he is trying to reform, he told lawmakers reviewing his pro-growth bill on Monday. A former investment banker who replaced Arnaud Montebourg in the position of economy minister last year, Macron, 37, said he had filed a complaint over death threats he had received from "certain judicial officers".
  
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• Greek leaders tour Europe with eyes on debt prize

  02-02-2015 19:21 via news.yahoo.com
  
  Greece's radical new leaders on Monday embarked on a campaign to win support from European governments and investors in their bid to renegotiate a massive 240-billion-euro ($270 billion) bailout. Prime Minister Alexis Tsipras visited Cyprus in his first foreign trip since the momentous January 25 election and Finance Minister Yanis Varoufakis went to London in a flurry of diplomatic efforts. US President Barack Obama gave them a boost on Sunday by warning Europe against "squeezing"
  
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• A guide to the debt standoff between Greece and the eurozone

  02-02-2015 19:02 via news.yahoo.com
  
  FRANKFURT, Germany (AP) — Greece wants a break from the terms of its eurozone bailout loans, saying they're suffocating its economy.
  
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• UPDATE 1-Qatar Air mulls halting Japan service over slots row

  02-02-2015 18:42
  PARIS, Feb 2 (Reuters) - Qatar Airways is considering withdrawing its services to Japan because of industry losses that it blames on airport restrictions, a person close to the Gulf carrier said on...
  
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• UPDATE 2-Strike by U.S. refinery workers in 2nd day, with gasoline prices in focus

  02-02-2015 18:42
  HOUSTON, Feb 2 (Reuters) - A labor strike that some fear could impact gasoline production at several of the largest U.S. oil refineries and chemical plants stretched into a second day on Monday, as...
  
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• WRAPUP 2-Greece rules out aid from Russia, argues case in Europe

  02-02-2015 18:33
  * New government vows to keep election promise to reject austerity
  
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• Spain and Italy weigh on European indexes amid nerves over Greece

  02-02-2015 18:31
  * Greek banking shares bounce as gov't says it won't appoint execs
  
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• Exxon fourth-quarter profit tops estimate, share buyback slashed in half

  02-02-2015 18:28 via news.yahoo.com
  
  Shares of Exxon rose 1.2 percent to $88.46 in mid-day New York Stock Exchange trading. Investors are closely watching oil companies' responses to the collapse, which has included job cuts and reduced capital expenditure budgets. Mindful of lower oil prices, Exxon said it will slash its share buyback program in the first quarter by more than half to $1 billion. In the fourth quarter, Exxon spent $3 billion on share repurchases.
  
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• Qatar Air considers pulling Japan service in slots row - source

  02-02-2015 18:27
  PARIS, Feb 2 (Reuters) - Qatar Airways is considering withdrawing its services to Japan because of losses that it blames on airport restrictions, a person close to the Gulf carrier said on Monday.
  
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• UPDATE 2-Exxon 4th-qtr profit tops estimate, share buyback slashed in half

  02-02-2015 18:24
  Feb 2 (Reuters) - Exxon Mobil Corp said on Monday its quarterly profit fell 21 percent as weak oil prices took a toll, but results topped Wall Street expectations due to a tax adjustment and higher...
  
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• CORRECTED-Brazil posts January trade deficit of $3.174 bln

  02-02-2015 18:24
  SAO PAULO, Feb 2 (Reuters) - Brazil posted a trade deficit of $3.174 billion in January, government data showed on Monday.
  
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• GLOBAL MARKETS-Stocks up modestly, oil bounces

  02-02-2015 18:20
  * Euro zone data shows slight growth in January (Updates with U.S. market activity)
  
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• As U.S. faces new threats, Pentagon seeks bigger defense budget

  02-02-2015 18:19
  WASHINGTON, Feb 2 (Reuters) - Facing new security challenges in the Middle East and Ukraine, the Obama administration on Monday proposed a $534 billion Pentagon base budget plus $51 billion in war...
  
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• UPDATE 1-Merkel to visit Obama and Canada's Harper to ready G7 summit

  02-02-2015 18:14
  BERLIN, Feb 2 (Reuters) - German Chancellor Angela Merkel will visit Washington and Ottawa next week for talks with U.S. President Barack Obama and Canadian Prime Minister Stephen Harper about the G7...
  
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• Italian car sales rise 10.9 pct in Jan -ministry

  02-02-2015 18:06
  MILAN, Feb 2 (Reuters) - New car sales in Italy, Europe's fourth-largest car market, rose 10.9 percent in January from the same month a year ago to 131,385 vehicles, Italy's transport ministry said...
  
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• Obama seeks $14 bln to boost U.S. cybersecurity defenses

  02-02-2015 18:04
  * Pentagon budget calls for $5.5 billion in cybersecurity funding
  
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• Brazil posts $2.33 bln trade deficit in January

  02-02-2015 18:03
  BRASILIA, Feb 2 (Reuters) - Brazil posted a trade deficit of $2.33 billion in January, government data showed on Monday.
  
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• UPDATE 1-Pacific Rubiales says impossible to predict Colombia LNG start-up

  02-02-2015 18:02
  MILAN, Feb 2 (Reuters) - Pacific Rubiales, forced by low oil prices to delay the start-up of its Colombia liquefied natural gas (LNG) plant, said it was impossible to predict when exports would...
  
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• Pacific Rubiales says impossible to predict Colombia LNG start-up

  02-02-2015 17:59
  MILAN, Feb 2 (Reuters) - Pacific Rubiales, forced by low oil prices to delay the start-up of its Colombia liquefied natural gas (LNG) plant, said it was impossible to predict when exports would...
  
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• UPDATE 1-Ireland mandates debut 30-year bond issue

  02-02-2015 17:56
  * Market participants see issue around 2 bln euros (Adds details of possible size, timing)
  
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• Unveiling budget, Obama warns Republicans to fund Homeland Security

  02-02-2015 17:54
  WASHINGTON, Feb 2 (Reuters) - U.S. President Barack Obama formally unveiled his fiscal year 2016 budget on Monday with a warning to Republicans to fully fund the Department of Homeland Security or...
  
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• CRH surge leads Britain's FTSE to modest gains

  02-02-2015 17:53
  * Budget airlines fall after Ryanair update (Updates with closing prices)
  
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• GLOBAL ECONOMY-Deflation alarms ring as EU, Chinese factories struggle; US steady

  02-02-2015 17:51
  * Euro zone factories post moderate growth in Jan, slash prices
  
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• RPT-French court rules against Gucci in trademark dispute with Guess?

  02-02-2015 17:47
  MILAN, Feb 2 (Reuters) - A French court has ruled in favour of Guess? Inc in the latest episode of a trademark dispute pitting the Californian fashion brand against Italian luxury label Gucci.
  
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• TSX climbs as energy shares jump with oil prices

  02-02-2015 17:46 via news.yahoo.com
  
  By John Tilak TORONTO (Reuters) - Canada's main stock index advanced with higher oil prices on Monday as investors rushed to the battered energy sector to take advantage of appealing valuations. Shares of energy producers extended a 4.7 percent gain in the previous session, when the oil price began rallying off multi-year lows as some concerns about excess supply began to ease. The strength was somewhat offset by sluggish economic data from China and a slowdown in Canadian manufacturing sec
  
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• Refundings push January U.S. muni bond sales to $28.2 billion

  02-02-2015 17:46
  Feb 2 (Reuters) - U.S. municipal bond sales totaled $28.2 billion in January, up 55 percent from a year earlier, according to Thomson Reuters data released on Monday.
  
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• S&P 500 edges up in volatile day, energy shares higher

  02-02-2015 17:33 via news.yahoo.com
  
  The S&P 500 edged up in a volatile session on Monday as better-than-expected results from Exxon lifted energy shares and offset disappointing readings on consumer spending and the manufacturing sector. The sector rose 0.9 percent after Exxon Mobil reported a smaller-than-expected profit drop of 21 percent.
  
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• Behind Obama's budget proposals, a gloomy view of the future

  02-02-2015 17:32 via news.yahoo.com
  
  By Jason Lange and Howard Schneider WASHINGTON (Reuters) - Beneath President Barack Obama's plan to fight income inequality lies a gloomy view of an economy that is growing slower and creating fewer rewards for its workers than it did in much of the last century. In a budget proposal unveiled on Monday, the White House cut forecasts for an array of economic variables, depicting less growth, weaker inflation and lower interest rates than officials expected only a year ago. This comes despite
  
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• UPDATE 2-Ardelyx kidney drug leads to increased diarrhea rates; shares fall

  02-02-2015 16:56
  Feb 2 (Reuters) - Ardelyx Inc said chronic kidney disease patients treated with its kidney drug experienced higher-than-expected levels of diarrhea in a mid-stage study.
  
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• Greek finance minister eyes debt deal very soon - UK's Channel 4

  02-02-2015 16:44 via news.yahoo.com
  
  Greece's finance minister Yanis Varoufakis said on Monday that he expected to reach a rapid deal on Greece's economic situation, according to a media report. "There will be a deal in a very short space of time ... that settles the Greek issue once and for all," Varoufakis was quoted as saying by a reporter from British broadcaster Channel 4 News who had conducted an interview with him in London. Varoufakis, who became finance minister on Jan. 27 as part of Greece's new l
  
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• U.S. real estate ETF rally faces test with rate rise

  02-02-2015 16:39
  
  NEW YORK (Reuters) - Investors who have been piling into real estate exchange-traded funds over the past year could be in for a rocky ride if the Federal Reserve raises interest rates later this year...
  
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