Finance news

• UPDATE 1-RadioShack files for bankruptcy, sell up to 2,400 stores

  05-02-2015 23:59
  Feb 5 (Reuters) - Electronics retailer RadioShack Corp
  filed for U.S. bankruptcy protection on Thursday and
  said it had a deal in place to sell as many as 2,400 stores to
  Sprint and an affiliate of...
  
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• France and Egypt negotiating Rafale fighter jet deal: newspaper

  05-02-2015 23:48 via news.yahoo.com
  
  France is in advanced talks to sell Dassault Aviation-built Rafale fighter jets to Egypt for around 6 billion euros ($6.88 billion), Les Echos newspaper reported on Thursday. Despite exclusive negotiations with India for the last three years, Dassault has still not found a foreign buyer for its multi-role jet, the Rafale, billed to be one of the most effective and sophisticated fighter jets in the world, but also one of the most expensive. Paris and Cairo have enjoyed close economic ties in the
  
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• REFILE-RadioShack files for Chapter 11 bankruptcy protection

  05-02-2015 23:47
  Feb 5 (Reuters) - Electronics retailer RadioShack Corp
  filed for Chapter 11 bankruptcy protection and said
  shareholder Standard General LP would buy 1,500 to 2,400 of its
  stores.
  
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• Column: Nestle, negative yields and a different deflation - James Saft

  05-02-2015 23:41
  
  (Reuters) - Corporate bonds did outstandingly well during the great deflation in the 1930s but this time round may be, well, different.
  
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• U.S.-based taxable bond funds had record inflows: Lipper

  05-02-2015 23:38
  NEW YORK (Reuters) - Investors added a record $13.7 billion in net new cash to taxable U.S.-based bond funds in the week ended Feb, 4, data from Thomson Reuters' Lipper service showed on Thursday.
  
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• Fed awards $188.08 billion in term deposits

  05-02-2015 23:36
  NEW YORK (Reuters) - The Federal Reserve said on Thursday it awarded $188.08 billion of 21-day term deposits to 87 banks at an auction held earlier.
  
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• Oregon's largest newspaper calls for Governor Kitzhaber to resign

  05-02-2015 23:24 via news.yahoo.com
  
  By Shelby Sebens PORTLAND, Ore. (Reuters) - Oregon’s flagship newspaper is calling on the state's Democratic governor, whom it endorsed for re-election last year, to resign amid a controversy over whether his fiancée's consulting work posed a conflict of interest with her role as an unpaid adviser. The call by the Oregonian in an editorial on Wednesday came after Governor John Kitzhaber told a news conference last week that his fiancée, Cylvia Hayes, would no longer have a policy r
  
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• BRIEF-RadioShack files for Chapter 11 bankruptcy

  05-02-2015 23:14
  Feb 5 (Reuters) - RadioShack Corp :
  * Files for chapter 11 bankruptcy -- court records
  * Files with U.S. bankruptcy court in Delaware
  * Says has $1.2 billion assets, $1.39 billion debts as...
  
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• IRS rehired hundreds of former workers with behavior problems: audit

  05-02-2015 23:03 via news.yahoo.com
  
  By Jason Lange WASHINGTON (Reuters) - Poor screening led the IRS to rehire hundreds of former employees with records of bad behavior including falsifying forms and unauthorized access to taxpayer information, an internal government watchdog found. Auditors found the Internal Revenue Service between 2010 and 2013 gave jobs to 323 former employees who had displayed unsavory conduct during prior stints at the agency, according to the U.S. Treasury's Inspector General for Tax Administration on Thurs
  
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• Global stocks gain as oil rises; euro up vs Swiss franc

  05-02-2015 22:46 via news.yahoo.com
  
  NEW YORK (Reuters) - Stock markets around the world mostly rose on Thursday as crude oil rebounded, although caution remained following the European Central Bank's surprise decision to strike Greek bonds off its list of accepted collateral.
  
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• Stocks jump as health care, energy stocks advance

  05-02-2015 22:45 via news.yahoo.com
  
  NEW YORK (AP) — The stock market surged again on Thursday, putting the Dow Jones industrial average on track for its best week since 2011.
  
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• U.S. airlines urge government to modify some air treaties: WSJ

  05-02-2015 22:41 via news.yahoo.com
  
  (Reuters) - Chief executives of the three largest U.S. airlines said they want the U.S. government to modify or terminate air treaties with two Perisan Gulf nations, the Wall Street Journal reported. Chief executives of American Airlines Group Inc , United Continental Holdings Inc and Delta Air Lines Inc said in a joint interview that three state-owned Gulf airlines receive subsidies under open skies treaties that have helped them fly and set rates freely in the United States, the Journal report
  
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• BUZZ-LinkedIn Corp: Q4 profit beats estimates

  05-02-2015 22:38
  ** Corporate networking site's shares up 6.7 pct at $254 in extended trading
  
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• Twitter tops Wall Street revenue target, user growth slows

  05-02-2015 22:30 via news.yahoo.com
  
  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Twitter Inc beat Wall Street's revenue target in the fourth quarter but the pace of its user growth weakened, adding pressure on embattled Chief Executive Dick Costolo. Shares of Twitter, which initially slipped after the release of the financial results on Thursday, recovered and were roughly flat from their closing price of $41.26 in after hours trading. Twitter said it ended 2014 with 288 million monthly users, up 1.4 percent from Sept. 30. T
  
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• Wall Street climbs with energy rebound, Pfizer deal

  05-02-2015 22:28 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks climbed on Thursday as energy shares bounced with oil prices, while news Pfizer would buy Hospira in a massive deal further boosted the market. The S&P energy index jumped 1.5 percent as oil prices rebounded sharply from the previous session. U.S. crude rose 4.2 percent to settle at $50.48 following increased violence in producer Libya and an expected boost in oil demand from China's central bank easing. On Wednesday, the Europea
  
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• Pandora's revenue misses estimate as advertisers spend less

  05-02-2015 22:23
  Feb 5 (Reuters) - Online music streaming service Pandora Media Inc, reported lower-than-expected quarterly revenue as growth in mobile advertising slowed down, sending shares down 21 percent in...
  
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• Stockton bankruptcy judge calls California pension fund a 'bully'

  05-02-2015 22:18
  Feb 5 (Reuters) - The judge overseeing the city of Stockton's bankruptcy case in California described the country's largest pension fund as a "bully" yielding an "iron fist," in a written ruling that...
  
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• Twitter fourth-quarter revenue rises 97 percent

  05-02-2015 22:13 via news.yahoo.com
  
  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Twitter Inc said on Thursday its revenue in the fourth quarter grew 97 percent, surpassing Wall Street expectations, but the growth rate of its monthly users slowed significantly. Twitter said revenue in the three months ended Dec. 31 totaled $479 million, compared to $243 million in the year-ago period. Analysts polled by Thomson Reuters I/B/E/S were looking for revenue of $453.1 million. Monthly active users in the fourth quarter totaled 288 millio
  
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• Twitter fourth-qarter revenue rises 97 percent

  05-02-2015 22:11 via news.yahoo.com
  
  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Twitter Inc said on Thursday its revenue in the fourth quarter grew 97 percent, surpassing Wall Street expectations, but the growth rate of...
  
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• Stocks gain for a third day this week; Oil price recovers

  05-02-2015 22:08 via news.yahoo.com
  
  NEW YORK (AP) — The stock market is notching its third big gain this week as the price of oil recovers and investors applaud a big acquisition in the pharmaceutical industry.
  
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• LinkedIn's quarterly revenue jumps 44 pct

  05-02-2015 22:07
  Feb 4 (Reuters) - Corporate networking site LinkedIn Corp reported a 44 percent rise in quarterly revenue as more business used its services to assess candidates for employment.
  
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• Judge rejects most of LightSquared claims against Deere, GPS firms

  05-02-2015 22:07
  NEW YORK, Feb 5 (Reuters) - A U.S. judge dismissed the bulk of two lawsuits by bankrupt wireless venture LightSquared and equity owner Harbinger Capital Partners accusing Deere & Co and other GPS...
  
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• Wall Street rises on oil, M&A

  05-02-2015 22:07 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks ended sharply higher on Thursday as energy shares bounced with oil prices, while news Pfizer would buy Hospira in a massive deal also lifted boosted sentiment. The Dow Jones industrial average rose 205.82 points, or 1.16 percent, to 17,878.84, the S&P 500 gained 20.79 points, or 1.02 percent, to 2,062.3 and the Nasdaq Composite added 48.39 points, or 1.03 percent, to 4,765.10. (Reporting by Ryan Vlastelica; Editing by Nick Zieminski)
  
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• Conn. AG to pressure S&P reforms, revive Moody's probe

  05-02-2015 22:03
  NEW YORK, Feb 5 (IFR) - Connecticut's AG told IFR on Thursday that even with the recent government settlement, the state will continue to pressure Standard & Poor's to make corporate reforms on its...
  
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• German finmin says couldn't bridge differences with Greece's Varoufakis

  05-02-2015 22:00
  BERLIN, Feb 5 (Reuters) - German Finance Minister Wolfgang Schaeuble said on Thursday he had been unable to bridge differences with his Greek counterpart over plans by the new government in Athens to...
  
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• UN urges more regional military coordination against Boko Haram

  05-02-2015 21:58 via news.yahoo.com
  
  The United Nations Security Council urged West and Central African countries on Thursday to improve regional military coordination to more effectively combat Boko Haram militants in northern Nigeria. Boko Haram has become the main security threat facing Nigeria, Africa's biggest economy and top oil producer, and increasingly threatens neighboring countries. The African Union (AU) has authorized a force of 7,500 troops from Nigeria, Chad, Cameroon, Niger and Benin to fight the Islamist milit
  
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• German economy minister says no haircut on Greek debt without reform

  05-02-2015 21:41 via news.yahoo.com
  
  BERLIN (Reuters) - German Economy Minister Sigmar Gabriel said on Thursday Greece could not expect a haircut on its debt without enacting reforms. "What we can't do is that (...) the financial consequences of a new policy (of the Greek government) are paid for by the citizens of other countries," Gabriel said at an event of Germany's "Mittelstand" business leaders in Berlin. "Therefore there can be no debt haircut and no money without conditions for reform," he said. (Reporting by Gernot Heller;
  
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• Disney promotes parks chief Staggs, seen in lead to succeed Iger

  05-02-2015 21:35 via news.yahoo.com
  
  By Lisa Richwine LOS ANGELES (Reuters) - Walt Disney Co named Thomas Staggs, the head of its theme parks and resorts unit, as chief operating officer of the company on Thursday, putting him in the lead to succeed Chief Executive Officer Bob Iger in 2018. Staggs will assume the role of COO immediately while he continues to run the parks business until a successor is named, Disney said in a statement. Disney shares rose 1.2 percent to $102.52 in afternoon trading on the New York Stock Exchange. Th
  
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• Denmark cuts deposit rate further below zero to defend euro peg

  05-02-2015 21:33 via news.yahoo.com
  
  Denmark's central bank cut its deposit interest rate further Thursday and said there was "no upper limit" to its foreign currency interventions aimed at defending the krone's link to the euro. Nationalbanken cut the deposit rate -- for the fourth time in less than three weeks -- by 0.25 percentage points to -0.75 percent but left its lending rate unchanged at 0.05 percent. On January 19 the deposit rate, which was cut to below zero in September for the first time since 2012,
  
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• Fed awards $188.08 bln in term deposits

  05-02-2015 21:30
  NEW YORK, Feb 5 (Reuters) - The Federal Reserve said on Thursday it awarded $188.08 billion of 21-day term deposits to 87 banks at an auction held earlier.
  
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• Canada dairy Saputo sees range for acquisitions C$500 million-C$1 billion

  05-02-2015 21:21
  (Reuters) - Canadian dairy company Saputo sees potential acquisitions in the cheese and dairy sector costing between C$500 million ($402.19 million) and C$1 billion, Chief Executive Lino Saputo Jr...
  
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• German Econmin says no haircut on Greek debt without reform

  05-02-2015 21:08
  BERLIN, Feb 5 (Reuters) - German Economy Minister Sigmar Gabriel said on Thursday Greece could not expect a haircut on its debt without enacting reforms.
  
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• BlackRock appoints new head of U.S. iShares ETF business

  05-02-2015 21:04
  NEW YORK (Reuters) - BlackRock Inc, the world's largest money manager, has named a new head to lead its iShares exchange-traded funds business in the United States as it looks to bulk up its biggest...
  
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• Low rates, M&A spur flood of pharma debt deals

  05-02-2015 21:01
  NEW YORK, Feb 5 (IFR) - Merck & Co's US$8bn jumbo bond is just the tip of the iceberg of debt supply from the healthcare sector in the months ahead with brand names like Novartis and Pfizer set to...
  
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• TREASURIES-U.S. bond prices fall with eyes on Greece before payrolls

  05-02-2015 20:59
  * Greek PM shoots back after ECB shuns Greek bonds * U.S. jobless claims, trade mixed ahead of jobs report * Investors focus on possible rebound in hourly earnings * Wall Street gains curb demand for...
  
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• UPDATE 3-Boehner sees call for military authorization vs Islamic State soon

  05-02-2015 20:57
  WASHINGTON, Feb 5 (Reuters) - U.S. House of Representatives Speaker John Boehner said on Thursday he expects President Barack Obama to seek congressional authorization for using military force...
  
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• Greek radicals play it safe with debt advisers Lazard

  05-02-2015 20:32 via news.yahoo.com
  
  Lazard cemented its position as the eminence grise of debt negotiations when it secured the biggest restructuring deal in history for Athens in 2012. Resolving financial tight spots has been a house specialty since the Great Depression of the 1930s when Lazard, founded as a New Orleans dry-goods merchant in 1848, helped save French carmaker Citroen from bankruptcy. Geopolitical turmoil and economic shocks keep the clients rolling in with Ukraine also recently signing them to handle talks with bo
  
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• Looking For A Tax Preparer? IRS Launches Online Directory

  05-02-2015 20:27 via news.yahoo.com
  
  Looking for a tax preparer? The Internal Revenue Service (IRS) has announced the launch of its new online directory of tax professionals. You can search for tax attorneys, CPAs, EAs and AFSP participants ...
  
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• UPDATE 2-Sony's Pascal to quit co-chair post after cyberattack upheaval

  05-02-2015 20:00
  LOS ANGELES, Feb 5 (Reuters) - Amy Pascal will step down as co-chairman of Sony Pictures Entertainment after hackers angry about a movie she championed mocking North Korea's dictator exposed a raft...
  
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• Och-Ziff details credit fund data for first time

  05-02-2015 20:00
  BOSTON, Feb 5 (Reuters) - Och-Ziff Capital Management has long been mum about its $17 billion credit business but on Thursday the publicly-traded hedge fund firm disclosed data about returns and...
  
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• UPDATE 1-Cencosud breaks new ground with 30-year bond

  05-02-2015 19:54
  NEW YORK, Feb 5 (IFR) - Chilean retailer Cencosud is breaking new ground today with a rare 30-year bond as part of a dual-tranche offering that marks the region's first high-grade corporate offering...
  
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• Ahead of G20 meeting, Canada raises concerns about global economy

  05-02-2015 19:53 via news.yahoo.com
  
  By Randall Palmer and Leah Schnurr OTTAWA (Reuters) - As the Group of 20 leading economies head into ministerial talks in Turkey next week, Canada highlighted the uncertainty of the global economy and concerns over the ability of the United States to sustain global growth. A senior Canadian finance official, briefing reporters on Thursday ahead of the meeting Monday and Tuesday of finance ministers and central bank governors, cited lower growth expectations for most parts of the world except the
  
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• Wells Fargo to pay $4 million for violations on credit card accounts: New York

  05-02-2015 19:45
  
  NEW YORK (Reuters) - Wells Fargo & Co has agreed to pay $4 million for violations on credit card accounts at a former affiliate, New York Governor Andrew Cuomo said.
  
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• India's Sahara says bank letter underpinning rescue deal was forged

  05-02-2015 19:30
  MUMBAI (Reuters) - Indian conglomerate Sahara Group said on Thursday that a letter intended to support a $2 billion transaction with a U.S.-based former broker was forged, dealing a major setback to...
  
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• Investors pull $12.5 billion from Pimco fund in January: Morningstar data

  05-02-2015 19:24
  NEW YORK (Reuters) - Morningstar Inc said on Thursday its estimated net outflow for the Pimco Total Return for January was $12.5 billion, or 9 percent of December-ending assets of $143.4 billion.
  
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• UPDATE 2-Dialogue of the deaf as Greek and German ministers meet

  05-02-2015 19:22
  BERLIN, Feb 5 (Reuters) - The maiden meeting between Greece's iconoclastic new finance minister from the Marxist left and his 72-year-old conservative German nemesis was never going to be easy. It...
  
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• UPDATE 1-Wells Fargo to pay $4 million for violations on credit card accounts -New York

  05-02-2015 19:19
  NEW YORK, Feb 5 (Reuters) - Wells Fargo & Co has agreed to pay $4 million for violations on credit card accounts at a former affiliate, New York Governor Andrew Cuomo said.
  
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• LSE puts Russell Investments up for sale

  05-02-2015 19:15
  LONDON (Reuters) - The London Stock Exchange Group said on Thursday it would sell Russell Investments, the asset management arm of the Frank Russell Co business which it acquired for $2.7 billion...
  
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• BRIEF-Four settle SEC insider trading charges linked to Silicon Valley

  05-02-2015 19:12
  Feb 5 (Reuters) - * SEC says charges four people in California insider trading ring, and that
  
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• UPDATE 1-Greek central bank says "absolutely no problem" with banks

  05-02-2015 19:08
  ATHENS, Feb 5 (Reuters) - Greek central bank governor Yannis Stournaras said on Thursday that Greek banks were solid and under control, a day after the European Central Bank denied them use of Greek...
  
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