Finance news

• Moody's cuts rating on Wayne County, Michigan's general obligation debt

  06-02-2015 23:56
  Feb 6 (Reuters) - Moody's downgraded the general obligation limited tax (GOLT) debt of Wayne County, Michigan to Ba3 from Baa3, citing a "very stressed financial position" due to a steady loss of...
  
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• UPDATE 1-NBC to investigate anchor Williams' Iraq War reporting

  06-02-2015 23:51
  NEW YORK, Feb 6 (Reuters) - NBC launched an internal probe on Friday into top-rated "Nightly News" anchor Brian Williams' debunked claim that he was aboard a helicopter that was downed by a...
  
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• Sen. Feinstein working to reinstate U.S. swaps 'push-out' rule -aide

  06-02-2015 23:33
  WASHINGTON, Feb 6 (Reuters) - Senator Dianne Feinstein of California hopes to reinstate a hotly contested requirement for big banks' swaps trading after U.S. lawmakers voted in late 2014 to loosen...
  
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• UPDATE 1-Moody's puts Greek gov't bond rating on review for downgrade

  06-02-2015 23:33
  ATHENS, Feb 6 (Reuters) - Moody's said late on Friday that it was placing Greece's government bond rating of Caa1 on review for downgrade as the agency warned that there was great uncertainty as to...
  
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• Illinois' CFO gets four-month contract to fix state's budgets

  06-02-2015 23:28
  CHICAGO, Feb 6 (Reuters) - Illinois has awarded its newly named chief financial officer a four-month contract for $120,000 to have her firm work on the state's current and next budgets, according to...
  
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• US economy creates 1 million jobs in 3 months

  06-02-2015 23:15 via news.yahoo.com
  
  The Labor Department's January employment report released Friday also showed a modest gain in wages, and while the unemployment rate edged up to 5.7 percent from 5.6 percent, analysts said that related more to a jump in returnees to the labor force -- a positive sign. With the economy marking the 11th straight month of 200,000-plus jobs added, "This was another incredibly strong employment report for the US," said Harm Bandholz of UniCredit. Most economists said the fresh data sho
  
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• CANADA FX DEBT-C$ weakens as U.S. job gains outshine Canada's

  06-02-2015 23:05
  (Adds analyst's comment, details, updates prices to close) * C$ ends at C$1.2524, or 79.85 U.S. cents * Bond prices lower across the curve By Alastair Sharp TORONTO, Feb 6 (Reuters) - The Canadian...
  
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• TREASURIES-Yields jump, curve flattens after strong jobs report

  06-02-2015 23:04
  * Yields spike after jobs gains, wage increases * Traders bring forward interest rate hike expectations * Yield curve between 5-, 30-year bonds flattens (Adds details on two-year and five-year...
  
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• Greece isolated in euro zone, ministers to meet Feb. 11

  06-02-2015 23:03 via news.yahoo.com
  
  By Jan Strupczewski BRUSSELS (Reuters) - Greece's new government was isolated at its first meeting with senior euro zone officials but will have a chance to put forward its plans at a special meeting of finance ministers of the currency bloc next week, EU officials said on Friday. Eurogroup finance ministers will discuss how to proceed with financial support for Athens at a special session next Wednesday in preparation for talks among European Union leaders on the issue the following day. T
  
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• JPMorgan under scrutiny over hiring of Chinese minister's son: WSJ

  06-02-2015 23:02 via news.yahoo.com
  
  (Reuters) - JPMorgan Chase & Co is under federal scrutiny over hiring the son of China's current commerce minister, the Wall Street Journal reported, citing internal emails. The investment bank hired Gao Jue, son of Gao Hucheng, despite several issues including his poor performance in job interviews, the Journal reported. Daley worked at JPMorgan from 2004 to 2010 and reported to Chief Executive Jamie Dimon.
  
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• Moody's places Greece's government bond rating on review for downgrade

  06-02-2015 23:02
  Feb 6 (Reuters) - Moody's placed Greece's Caa1 government bond rating on review for downgrade, citing an uncertainty over outcome of negotiations between Greece and its official creditors over the...
  
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• Wall St. ends down on interest rate, Greece jitters

  06-02-2015 23:01 via news.yahoo.com
  
  Wall Street stocks fell on Friday as a better-than-expected U.S. jobs report raised expectations that the Federal Reserve will increase interest rates by midyear, while renewed worries over Greece's debt negotiations added to the bearish tone. In another sign of concern about interest rates, Simon Properties , a real estate investment trust, sank 4 percent at $195.08. The unemployment rate ticked up to 5.7 percent as a result of an increased labor force. After the report, traders added to b
  
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• UPDATE 1-U.S. budget deficit grew slightly in first four months of FY 2015-CBO

  06-02-2015 23:00
  WASHINGTON, Feb 6 (Reuters) - The Congressional Budget Office on Friday forecast a $195 billion U.S. budget deficit for the first four months of the current fiscal year, up from $183 billion in the...
  
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• Wall Street ends down on interest rate, Greece jitters

  06-02-2015 22:59 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - Wall Street stocks fell on Friday as a better-than-expected U.S. jobs report raised expectations that the Federal Reserve will increase interest rates by midyear, while renewed worries over Greece's debt negotiations added to the bearish tone. In another sign of concern about interest rates, Simon Properties, a real estate investment trust, sank 4 percent at $195.08. The unemployment rate ticked up to 5.7 percent as a result of an increased labo
  
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• Oil surges helped by robust US jobs report

  06-02-2015 22:51 via news.yahoo.com
  
  Oil prices scored strong gains for a second day Friday, helped by a surprisingly robust jobs report in the United States, the world's largest crude consumer. US benchmark West Texas Intermediate (WTI) for March delivery advanced $1.21 (2.4 percent) to settle at $51.69 a barrel. After several days of volatile trade in a market worried about ample supplies and slowing global economic growth, the two key futures contracts posted their best weekly performances since February 2011: WTI jumped 13
  
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• UPDATE 3-Greece isolated in euro zone, ministers to meet Feb. 11

  06-02-2015 22:49
  BRUSSELS, Feb 6 (Reuters) - Greece's new government was isolated at its first meeting with senior euro zone officials but will have a chance to put forward its plans at a special meeting of finance...
  
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• RadioShack would accept liquidation bids -lawyer

  06-02-2015 22:45
  Feb 6 (Reuters) - A lawyer for RadioShack on Friday said the bankrupt electronics chain would accept all kinds of bids for its assets, including from liquidators, although any transaction would...
  
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• GLOBAL MARKETS-Dollar, bond yields jump on robust U.S. jobs data

  06-02-2015 22:38
  * Brent heads for best two weeks since 1998 (Adds close of U.S. markets)
  
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• U.S. warns ECB actions may not be enough to save Europe

  06-02-2015 22:38
  WASHINGTON, Feb 6 (Reuters) - The United States urged European governments to spend more money to boost their depressed economies, warning that a reliance on central bank money-printing might not be...
  
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• U.S. budget deficit grew slightly in first four months of FY 2015-CBO

  06-02-2015 22:31
  WASHINGTON, Feb 6 (Reuters) - The Congressional Budget Office on Friday estimated a $195 billion U.S. budget deficit for the first four months of the current fiscal year, up from $183 billion in the...
  
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• Brazil underperforms in otherwise firm market

  06-02-2015 22:24
  NEW YORK, Feb 6 (IFR) - Latin American credits were headed for a mixed close on Friday, with Brazilian names underperforming while the rest of the region held up in price despite the widening in US...
  
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• January job gains show US recovery gaining greater strength

  06-02-2015 22:23 via news.yahoo.com
  
  WASHINGTON (AP) — A resurgent job market in January signaled that the U.S. economy is finally regaining the kind of strength typical of a healthy recovery — with hiring accelerating, wages rising and people who had given up their job hunts starting to look again.
  
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• Speculators lift US dollar longs; euro net shorts rise again-CFTC

  06-02-2015 22:07
  Feb 6 (Reuters) - Speculators increased bets in favor of the U.S. dollar in the latest week and pushed net shorts on the euro to their largest since June 2012, according to data from the Commodity...
  
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• Fitch Affirms Croatia at 'BB'/'BB+'; Outlook Stable

  06-02-2015 22:05
  (The following statement was released by the rating agency) LONDON/PARIS, February 06 (Fitch) Fitch Ratings has affirmed Croatia's Long-term foreign and local currency Issuer Default Ratings (IDR) at...
  
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• Fitch Affirms Poland at 'A-'/'A'; Outlook Stable

  06-02-2015 22:04
  (The following statement was released by the rating agency) LONDON, February 06 (Fitch) Fitch Ratings has affirmed Poland's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'A-'...
  
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• Wall Street firms waver over June 2015 rate hike: Reuters poll

  06-02-2015 21:58 via news.yahoo.com
  
  Ten of 19 primary dealers, or the banks that deal directly with the Fed, said they expect the Fed to raise rates by June, compared to 13 of 20 who predicted the hike in a Jan. 9 poll. The Fed last raised rates in 2006 and has held its target policy rate near zero since the financial crisis in late 2008.
  
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• Argentina bondholders play old waiting game in new year

  06-02-2015 21:32
  
  NEW YORK (Reuters) - Investing in Argentine debt, since the country's 2002 sovereign default, has never been for the faint of heart.
  
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• Brazil's Petrobras taps state banker as CEO; shares dive

  06-02-2015 21:27 via news.yahoo.com
  
  Brazil's President Dilma Rousseff tapped a confidant from a state-run bank to be the next head of Petrobras on Friday, chilling investor hopes that a more independent new management team would steer the oil firm out of a huge corruption scandal. The company's shares slid more than 8 percent after news leaked that Aldemir Bendine, previously CEO of Banco do Brasil, would be Petrobras' next chief executive. Petrobras' board confirmed him in the job later on Friday. Bendine over
  
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• U.N. sets sights on Syria antiquities, Islamic State oil, ransoms

  06-02-2015 21:13 via news.yahoo.com
  
  By Michelle Nichols and Louis Charbonneau UNITED NATIONS (Reuters) - The United Nations Security Council appears set to ban all trade in antiquities from war-torn Syria and threaten sanctions on anyone buying oil from Islamic State and al Qaeda-linked Nusra Front militants or paying kidnap ransoms to the groups. Russia initially suggested the council ratchet up pressure on Islamic State, also known by one acronym as ISIL, diplomats said. It would ban all trade in antiquities from Syria and reaff
  
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• More Americans are finally seeing something new: A pay raise

  06-02-2015 21:07 via news.yahoo.com
  
  WASHINGTON (AP) — As the U.S. economy has steadily recovered from the Great Recession, the critical missing piece has been a painful lack of pay raises for many Americans.
  
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• U.S. defense suppliers Harris and Exelis to combine

  06-02-2015 21:04
  
  (Reuters) - Harris Corp will buy Exelis Inc in a deal valued at about $4.75 billion, combining two big suppliers to the U.S. military at a time when the government is squeezing spending on defense.
  
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• Wall Street, dollar rise after robust U.S. payrolls

  06-02-2015 21:02 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - Strong U.S. labor market data for January lifted Wall Street stocks and drove up government bond yields on Friday as investor expectations of a Federal Reserve move to raise interest rates by midyear increased. U.S. job growth rose solidly and wages rebounded strongly, while data for November and December was revised to show a whopping 147,000 more jobs created than previously reported, THE Labor Department said in its monthly nonfarm payrolls report. This is
  
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• UPDATE 4-U.S. defense suppliers Harris and Exelis to combine

  06-02-2015 20:59
  * Represents premium of about 34 pct to Exelis' Thursday close
  
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• TurboTax Suspends State Tax Filing Service Nationwide After Fraud Concerns

  06-02-2015 20:58 via news.yahoo.com
  
  TurboTax says it will temporarily stop processing state tax returns following growing reports of suspicious activity. Authorities in Utah and Alabama issued similar warnings without naming TurboTax, saying they will stop accepting tax returns through "third-party" software.
  
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• Dollar, bond yields rise on robust U.S. jobs data

  06-02-2015 20:58 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - The dollar and U.S. government debt yields jumped on Friday as a strong American labour market report raised expectations that the Federal Reserve will increase interest rates by mid-year. Wall Street initially rose and European equities hit a seven-year high on the Labor Department report that showed solid U.S. job growth, with wages rebounding strongly. U.S. Treasury yields rose and the yield curve flattened as traders increased bets the Fed will raise rate
  
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• BRIEF-Judge would consider changing Radioshack sale hearing date if stakeholders deem unfair

  06-02-2015 20:53
  * U.S. bankruptcy judge tentatively schedules RadioShack
  sale hearing for march 12 -- court hearing
  
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• Fed's Yellen to testify before House on February 25

  06-02-2015 20:39 via news.yahoo.com
  
  WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen will testify before the U.S. House Financial Services Committee on Feb. 25, a congressional aide said on Friday. Yellen's appearance at the House committee will come a day after she goes in front of the Senate Banking, Housing and Urban Affairs Committee. Both hearings are part of the official, semi-annual appearances the Federal Reserve makes to update Congress on the state of the economy and monetary policy. (Reporting by Michael F
  
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• Quinpario in the lead to acquire Royal Adhesives: sources

  06-02-2015 20:35
  (Reuters) - Quinpario, a blank-check acquisition company run by former Solutia Inc Chief Executive Jeffry Quinn, is in advanced talks to buy specialty tape maker Royal Adhesives & Sealants LLC for...
  
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• Ireland repays additional IMF bailout loans

  06-02-2015 20:31 via news.yahoo.com
  
  Ireland on Friday repaid a further 3.5 billion euros ($3.9 billion) to the IMF several years early, as the eurozone country replaces expensive bailout loans with more favourable debt. A further 5.5 billion euros will be repaid to the IMF in the coming months, minister for finance Michael Noonan said. "Lower rates lead to lower interest bill on the national debt thus reducing the amount of tax revenues and borrowing that go towards financing the debt," Noonan added. Ireland's econo
  
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• U.S. invites Japan, China leaders for state visits

  06-02-2015 20:26 via news.yahoo.com
  
  The United States has invited Japan's Prime Minister Shinzo Abe and Chinese leader Xi Jinping to come to the country on state visits, U.S. National Security Adviser Susan Rice said on Friday. In a speech presenting President Barack Obama's updated national security strategy, Rice said Washington had also invited South Korean President Park Geun-hye and Indonesian President Joko Widodo to visit this year to advance Washington's policy of rebalancing its economic, political and dipl
  
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• S&P downgrades Greece, warns time limited for a deal with creditors

  06-02-2015 19:54 via news.yahoo.com
  
  Standard & Poor's cut Greece's long-term sovereign credit rating to B- from B on Friday, warning that liquidity restraints on Greek banks would limit the time the new government has to clinch a deal with its creditors. Left-wing Prime Minister Alexis Tsipras was elected barely two weeks ago on a promise to scrap unpopular austerity measures imposed under a 240 billion euro (177 billion pounds) international bailout and write off a chunk of the country's debt. In addition, the
  
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• Fed's Yellen to testify before House on Feb. 25

  06-02-2015 19:41 via news.yahoo.com
  
  WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen will testify before the U.S. House Financial Services Committee on Feb. 25, a congressional aide said on Friday. Yellen's appearance at the House committee will come a day after she goes in front of the Senate Banking, Housing and Urban Affairs Committee. Both hearings are part of the official, semi-annual appearances the Federal Reserve makes to update Congress on the state of the economy and monetary policy. (Reporting by Michael F
  
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• Bond funds worldwide attract most inflows since Sept '09: BofA

  06-02-2015 19:11
  NEW YORK (Reuters) - Investors worldwide poured $21.5 billion into bond funds in the weekly reporting period ended Wednesday, before Friday's data showing U.S. job growth rose solidly in January,...
  
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• Buyout firm Exponent emerges as frontrunner for Big Bus Tours: sources

  06-02-2015 19:09
  LONDON (Reuters) - UK private equity firm Exponent has emerged as the frontrunner to buy open-top sightseeing company Big Bus Tours, two sources familiar with the matter said on Friday.
  
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• Anatomy of Nigeria's $20 billion “leak”

  06-02-2015 19:05 via news.yahoo.com
  
  By Tim Cocks and Joe Brock ABUJA, Nigeria (Reuters) - In late 2013, Nigeria's then central bank governor Lamido Sanusi wrote to President Goodluck Jonathan claiming that the state oil company had failed to remit tens of billions of oil revenues it owed the state. Before he was sacked, though, the central banker submitted to Nigeria’s parliament more than 300 pages of documentation in support of his claim. Reuters has reviewed that dossier, which offers one of the most comprehensive st
  
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• S&P downgrades Greek credit rating amid concerns over cash

  06-02-2015 19:01 via news.yahoo.com
  
  ATHENS, Greece (AP) — Standard & Poor's has cut its credit rating on Greece amid concerns over the country's cash position as the new Greek government tries to reach a new deal with bailout creditors.
  
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• S&P cuts Greece's rating to 'B negative'

  06-02-2015 18:59 via news.yahoo.com
  
  (Reuters) - Standard and Poor's cut Greece's long-term sovereign credit rating to 'B negative' from 'B', citing liquidity constraints weighing on Greece's banks. The long-term ratings on Greece "remain on Creditwatch with negative implications", the ratings agency said. (http://bit.ly/1C5eTDA) (Reporting By Sudarshan Varadhan; Editing by Simon Jennings)
  
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• TurboTax maker Intuit halts state tax filings over fraud concerns

  06-02-2015 18:58 via news.yahoo.com
  
  (Reuters) - Intuit Inc, the developer of tax-preparation software TurboTax, halted e-filing of state tax returns after it noticed attempts to use stolen identity information to file fraudulent state tax returns and claim refunds. "We've identified specific patterns of behavior where fraud is more likely to occur," Chief Executive Brad Smith said in a statement. "We're working with the states to share that information and remedy the situation quickly." Intuit said fraudulent activity was not due
  
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• Budget fitness chain Planet Fitness plans IPO: sources

  06-02-2015 18:50
  (Reuters) - Fitness chain Planet Fitness Holdings LLC, known for its "judgment free zone" and low prices, is preparing for an initial public offering that could value it at more than $2 billion,...
  
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• Echoes of the 1990s in Ukraine as financial crisis bites

  06-02-2015 18:13 via news.yahoo.com
  
  By Natalia Zinets KIEV (Reuters) - A crippling financial crisis in Ukraine is turning the clock back to the 1990s, when people kept dollars in their socks rather than at banks and smuggled cars to sell them on the black market and avoid the tax man. When the Soviet Union collapsed in 1991, leaving the command economy in tatters, many in the newly independent republics such as Ukraine were left to fend for themselves, using guile to seek out goods and services and navigate the new capitalist real
  
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