Finance news

• S&P downgrades Venezuela debt

  09-02-2015 23:36 via news.yahoo.com
  
  Standard & Poor's on Monday cut Venezuela's debt rating by one step citing the impact of the oil price plunge on government finances. S&P said the government has failed to address growing economic challenges, leaving it with few politically viable policy options to restore growth and rebuild foreign reserves. S&P lowered the country's sovereign rating to CCC, a rating deep in junk bond territory that denotes that the country has a significant risk of not being able to
  
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• Global shares slip on Greece worries, oil up on OPEC outlook

  09-02-2015 23:35 via news.yahoo.com
  
  By Sam Forgione NEW YORK (Reuters) - Stock indexes worldwide slipped on Monday on fears of Greece leaving the euro zone and concerns over conflict in Ukraine, while oil prices surged after an optimistic demand forecast from OPEC. Wall Street and European shares slumped a day after Greek Prime Minister Alexis Tsipras ruled out extending the country's bailout and said he would reverse some of the reforms imposed by its lenders, raising fears of a Greek exit from the euro zone. ...
  
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• Wall St. ends down on Greece, China worries

  09-02-2015 22:52 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks fell on Monday as investors worried about Greek debt negotiations and disappointing Chinese economic data on top of uncertainty about U.S. interest rates.
  
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• XPO Logistics buys home delivery company to tap e-commerce boom

  09-02-2015 22:44
  (Reuters) - XPO Logistics Inc has bought home delivery company UX Specialized Logistics for $59 million in cash to tap into the booming e-commerce market in North America.
  
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• McDonald's and Hasbro are big market movers

  09-02-2015 22:38 via news.yahoo.com
  
  Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE McDonald's Corp., down $1.27 to $92.72 The fast-food restaurant operator reported ...
  
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• TSX little changed as energy rises, China data drags

  09-02-2015 22:29 via news.yahoo.com
  
  By John Tilak TORONTO (Reuters) - Canada's main stock index was little changed on Monday as a gain in energy shares on climbing oil prices helped offset weak economic data from China. The group has gained in six of the past seven sessions, helped by a recent rebound in oil prices. Oil may want to retreat and test its lows before it goes up again,” said Douglas Davis, vice chairman at Davis-Rea. “We held on to our oil stocks for a bounce, and they are bouncing,” he said, but added that
  
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• Spain's Aena valued at 8.7 billion euros in IPO - reports

  09-02-2015 22:17 via news.yahoo.com
  
  MADRID (Reuters) - The stock market flotation of Spanish airport group Aena will value the company at 8.7 billion euros (£6.47 billion), after the final price was set at 58 euros ...
  
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• TSX near flat as energy gains offset China data

  09-02-2015 22:13 via news.yahoo.com
  
  TORONTO (Reuters) - Canada's benchmark stock index was little changed on Monday as gains in energy shares on climbing oil prices were offset by sluggish economic data from China. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 16.78 points, or 0.11 percent, at 15,100.70. Six of the 10 main sectors on the index were in the red. (Reporting by John Tilak, editing by G Crosse)
  
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• Wall Street ends down on Greek debt worries

  09-02-2015 22:07 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - U.S. stocks fell on Monday as investors worried about Greek debt negotiations and disappointing Chinese economic data on top of uncertainty about U.S. interest rates. Based on the latest available data, the Dow Jones industrial average fell 95.08 points, or 0.53 percent, to 17,729.21, the S&P 500 lost 8.75 points, or 0.43 percent, to 2,046.72 and the Nasdaq Composite dropped 18.39 points, or 0.39 percent, to 4,726.01. (Additional reporting by Chuck Mikola
  
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• Wall St. ends down on Greek debt worries

  09-02-2015 22:06 via news.yahoo.com
  
  NEW YORK (Reuters) - Stocks fell on Monday as investors worried about Greek debt negotiations and disappointing Chinese economic data on top of uncertainty about U.S. interest rates.
  
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• MOVES- KPMG, Candriam Investors, KeyCorp, Man Group

  09-02-2015 21:36
  Feb 9 (Reuters) - The following financial services industry appointments were announced on Monday. To inform us of other job changes, email [email protected].
  
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• UPDATE 1-S&P cuts ratings on Middle Eastern oil producing countries

  09-02-2015 21:29
  Feb 9 (Reuters) - Standard & Poor's cut the ratings and outlook of several oil producing countries in the Middle East, including Saudi Arabia and Bahrain, citing the recent sharp decline in oil...
  
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• What to Watch in the Day Ahead - Tuesday, Feb. 10

  09-02-2015 21:28
  Coca-Cola Co is scheduled to report fourth-quarter results. Investors will be looking for an update on the progress og the soft drink giant's announced $3 billion cost savings plan.
  
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• Hungary to cut EU's highest bank tax

  09-02-2015 21:27 via news.yahoo.com
  
  Hungarian Prime Minister Viktor Orban announced Monday that his government would start easing the highest bank tax in the European Union, which has angered foreign financial institutions. "The aim is to bring Hungary's bank tax closer to the EU average," he added. Hungary's banks -- most of them foreign-owned like Austria's Erste Group and Raiffeisen and Italy's Unicredit -- have also been forced to shoulder losses incurred by household debtors unable to repay forei
  
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• FOREX-Yen gains as investors fret about Greece, Ukraine

  09-02-2015 21:26
  NEW YORK, Feb 9 (Reuters) - The yen advanced against the dollar and euro on Monday as investors sought safety in the Japanese currency on worries about the conflict in Ukraine and Greece's future in...
  
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• UPDATE 10-Oil rallies for third day after OPEC sees greater crude demand

  09-02-2015 21:25
  * Some traders still bearish, Citi says WTI could fall to even $20
  
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• December CDS on Caesars not triggered: ISDA panel

  09-02-2015 21:22
  NEW YORK, Feb 9 (IFR) - December credit default swaps tied to gaming company Caesars Entertainment were not triggered by a disputed bond payment that same month, an industry-appointed board ruled on...
  
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• US STOCKS-Wall St down on China, Greek worry; energy gains

  09-02-2015 21:04
  * Indexes down: Dow 0.44 pct, S&P 0.29 pct, Nasdaq 0.22 pct (Updates to afternoon trade, commentary)
  
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• GLOBAL MARKETS-Shares slip on China growth fears, Greece tensions

  09-02-2015 21:02
  * Oil rises on OPEC forecast of greater demand, less supply (Updates prices to close of European bond, stock markets)
  
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• SEC proposes rules on employee hedging disclosures

  09-02-2015 21:01
  
  WASHINGTON (Reuters) - The Securities and Exchange Commission on Monday proposed rules to require public companies to tell investors about what policies they may have to allow corporate executives to...
  
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• UPDATE 1-Pennsylvania launches Medicaid expansion -governor

  09-02-2015 20:54
  NEW YORK, Feb 9 (Reuters) - The state of Pennsylvania has launched an expansion of the Medicaid health insurance program, governor Tom Wolf, a Democrat, said in a statement on Monday.
  
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• UPDATE 2-U.S. SEC proposes rules on employee hedging disclosures

  09-02-2015 20:46
  WASHINGTON, Feb 9 (Reuters) - The U.S. Securities and Exchange Commission on Monday proposed rules to require public companies to tell investors about what policies they may have to allow corporate...
  
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• Defaults unlikely to rise in Brazil, Santander Brasil CFO says

  09-02-2015 20:41
  SAO PAULO, Feb 9 (Reuters) - Banco Santander Brasil SA is confident that loan delinquencies are not on the rise despite the economic stagnation afflicting Brazil, Chief Financial Officer Ángel...
  
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• WRAPUP 2-Ride gets bumpier for Canada's Harper as second legislator quits

  09-02-2015 20:39
  OTTAWA, Feb 9 (Reuters) - A Canadian legislator called Conservative Prime Minister Stephen Harper "mean spirited" on Monday as she defected to the opposition Liberals, the second surprise departure...
  
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• UPDATE 1-U.S. West Coast port operations resume, more labor talks scheduled

  09-02-2015 20:35
  LOS ANGELES, Feb 9 (Reuters) - U.S. West Coast port operations resumed in full on Monday after shipping companies suspended loading and unloading of freighters for the weekend, citing chronic cargo...
  
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• S&P lowers outlook on Saudi Arabia due to plunge in oil prices

  09-02-2015 20:23
  Feb 9 (Reuters) - Standard & Poor's lowered its outlook on Saudi Arabia to "negative" from "stable" as a result of the steep decline in oil prices.
  
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• Pennsylvania launches Medicaid expansion - governor Tom Wolf

  09-02-2015 20:22
  NEW YORK, Feb 9 (Reuters) - The state of Pennsylvania has launched an expansion of the Medicaid health insurance program, its governor Tom Wolf said in a statement on Monday.
  
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• WRAPUP 3-Obama says still weighing decision on arming Ukraine forces

  09-02-2015 20:14
  * EU ministers delay tighter sanctions till after Wednesday talks
  
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• Oil surges in short-covering towards close; Brent rallies near $60

  09-02-2015 20:12
  Feb 9 (Reuters) - Oil extended its rally on Monday afternoon as a weaker dollar and surge in short-covering activity took crude prices up to nearly $60 a barrel at one point.
  
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• U.S. productivity trends to put speed limit on growth-Fed paper

  09-02-2015 20:09
  SAN FRANCISCO, Feb 9 (Reuters) - The recent sluggishness in U.S. productivity began well before the recession and will likely place a speed limit on future U.S. economic growth, a paper published...
  
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• UPDATE 4-Puerto Rico to appeal restructuring law ruling

  09-02-2015 20:09
  SAN JUAN/NEW YORK, Feb 9 (Reuters) - Puerto Rico said on Monday it would appeal a U.S. ruling that voided the island's restructuring law, saying it left it in legal limbo and struggling to find a way...
  
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• U.S. considering reopening 2012 HSBC deferred prosecution deal-source

  09-02-2015 20:03
  WASHINGTON, Feb 9 (Reuters) - HSBC Holdings plc could see its 2012 deferred prosecution deal with U.S. authorities over anti-money laundering lapses reopened as a result of separate, ongoing probes...
  
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• RadioShack gets court approval for interim bankruptcy loan

  09-02-2015 20:03
  WILMINGTON, Delaware, Feb 9 (Reuters) - Bankrupt electronics
  retailer RadioShack Corp got court approval on Monday to
  borrow $10 million to support its operations until it opens the
  bidding this...
  
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• European stocks close lower on Greek anti-austerity vow

  09-02-2015 19:50 via news.yahoo.com
  
  European stock markets sank Monday after Greek Prime Minister Alexis Tsipras vowed to stand by his anti-austerity electoral promises, fanning fresh fears over Greece's possible exit from the eurozone. London's FTSE 100 index dipped 0.24 percent to end the day at 6,837.15 points, with HSBC shares sliding on claims that its Swiss banking division had helped rich clients dodge taxes. Markets were reacting to a speech by Greece's new leftist Prime Minister Alexis Tsipras over the week
  
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• Wall Street down on China, Greek worry; energy gains

  09-02-2015 19:28 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - U.S. stocks pared their losses on Monday as investors took increased tensions over Greek debt negotiations and disappointing Chinese economic data in stride, helped by a rise in oil prices that boosted energy stocks. After Greece's Prime Minister Alexis Tsipras ruled out any extension of its international bailout on Sunday and announced moves to reverse some of the reforms imposed by its lenders European Commission President Jean-Claude Juncker said Gree
  
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• Pimco Emerging Market funds' outflows slow in Jan -Morningstar

  09-02-2015 19:27
  NEW YORK (Reuters) - The Pimco Emerging Local Bond Fund posted $5 million in inflows for January, reversing the net withdrawals seen in the last few months of 2014, but outflows at other Pimco...
  
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• Wall St. down on China, Greek worry; energy gains

  09-02-2015 19:25 via news.yahoo.com
  
  U.S. stocks pared their losses on Monday as investors took increased tensions over Greek debt negotiations and disappointing Chinese economic data in stride, helped by a rise in oil prices that boosted energy stocks. After Greece's Prime Minister Alexis Tsipras ruled out any extension of its international bailout on Sunday and announced moves to reverse some of the reforms imposed by its lenders European Commission President Jean-Claude Juncker said Greeks should not expect the euro zone to
  
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• Weak utility stocks, HSBC take spark out of FTSE

  09-02-2015 18:51 via news.yahoo.com
  
  By Sudip Kar-Gupta and Alistair Smout LONDON (Reuters) - Britain's top share index edged lower on Monday, hurt by a fall in HSBC after the bank admitted tax failings at its Swiss unit and by softer utility stocks. The blue-chip FTSE 100 index was down 0.2 percent, or 16.29 points, at 6,837.15 points by the close, with United Utilities, National Grid and Severn Trent falling by between 3.1 and 2.1 percent. Traders said utility stocks fell on rising debt yields following a drop in shares of t
  
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• Obama says Russia's isolation will worsen if it doesn't change course in Ukraine

  09-02-2015 18:31 via news.yahoo.com
  
  U.S. President Barack Obama said on Monday both the United States and its European allies remain committed to finding a diplomatic solution to tensions with Russia over Ukraine. "Even as we continue to work for a diplomatic solution we are making it clear again today that if Russia continues on its current course, which is ruining the Russia economy and hurting the Russian people, as well as having such a terrible effect on Ukraine, Russia's isolation will only worsen both politically and econom
  
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• Obama says to welcome Merkel assessment of Greece, Eurozone growth

  09-02-2015 18:20 via news.yahoo.com
  
  U.S. President Barack Obama on Monday said he looked forward to German Chancellor Angela Merkel's appraisal of the financial situation in Greece and ways to address growth. "I look forward to hearing Angela's assessment of how Europe and the IMF can work with the new Greek government to find a way that returns Greece to sustainable growth within the Eurozone," Obama said at a joint news conference, adding that such growth is critical to the global economy and the United States.
  
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• Payout to Madoff victims tops $7.2 billion

  09-02-2015 18:04
  
  NEW YORK (Reuters) - The trustee liquidating Bernard Madoff's firm on Monday said he is distributing another $355.8 million to the swindler's victims, bringing the total payout to more than $7.2...
  
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• Weak utility stocks, HSBC take the spark out of FTSE

  09-02-2015 17:59 via news.yahoo.com
  
  By Sudip Kar-Gupta and Alistair Smout LONDON (Reuters) - FTSE edged lower on Monday, hindered by a fall in HSBC after the bank admitted tax failings at its Swiss unit, and by weakness in utility stocks. The blue-chip FTSE 100 index was down 0.2 percent, or 16.29 points, at 6,837.15 points by the close, with United Utilities, National Grid and Severn Trent falling by between 3.1 and 2.1 percent. Traders said utility stocks fell on rising debt yields, following a drop in the shares of their U.S. r
  
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• Tycoon Dhanin unfazed after Tesco rebuffs approach for Thai unit-sources

  09-02-2015 17:46
  HONG KONG/SINGAPORE (Reuters) - Tesco Plc rebuffed an approach from billionaire Dhanin Chearavanont in December to buy the British retailer's Thai unit, but undeterred, the tycoon is building...
  
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• Wall Street dips on China, Greek worry; energy gains

  09-02-2015 17:32 via news.yahoo.com
  
  U.S. stocks slipped on Monday, on the heels of disappointing Chinese economic data and increased tensions over Greek debt negotiations, though the decline was limited by another gain in oil prices. China's exports fell 3.3 percent from a year ago while imports tumbled 19.9 percent, well short of expectations, raising concerns about the health of the world's second-largest economy. "China is a negative and Greece is a negative, certainly Greece is something investors have lived wit
  
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• Tesco eyes majority stake sale of data unit Dunnhumby - source

  09-02-2015 17:32
  LONDON (Reuters) - Britain's biggest retailer Tesco Plc is pursuing the sale of a majority stake in its data-gathering arm Dunnhumby, rather than an outright exit or flotation, a source familiar...
  
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• Stocks head lower as concerns mount over China, Greece

  09-02-2015 17:29 via news.yahoo.com
  
  NEW YORK (AP) — Concerns about the world economy helped tug U.S. stocks down early Monday. Major indexes followed European markets lower as worries mount over Greece's standoff with its creditors.
  
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• Nigeria's election delay on military say raises fears for democracy

  09-02-2015 17:24 via news.yahoo.com
  
  By Tim Cocks ABUJA (Reuters) - Nigeria's agreement to delay this week's election on the advice of security forces creates a worrying echo for some of the annulment of 1993's democratic vote by a military government. The election this Saturday in Africa's biggest economy was set to be the closest fought since the end of military dictatorship in 1999. President Goodluck Jonathan is seeking re-election in a contest with main opposition candidate Muhammadu Buhari, himself a former military ruler. Br
  
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• India's economy forecast to grow 7.4%

  09-02-2015 17:20 via news.yahoo.com
  
  India forecast its economy will accelerate 7.4 percent this financial year, data showed Monday, under a revised formula for calculating gross domestic product that has baffled analysts since its release last month. The economy will grow 7.4 percent in the year through to March, the statistics ministry announced, after earlier revising the forecast expansion to 6.9 percent from 4.7 percent by using the new formula. Asia's third-largest economy also grew at an annualised 7.5 percent in the th
  
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• Obama's Ukraine policy at crossroads as fighting rages on

  09-02-2015 16:34 via news.yahoo.com
  
  Should Obama provide lethal weaponry to the Western-backed Kiev government to staunch Europe's worst conflict in two decades? Many U.S. lawmakers and some of Obama's own advisors are calling for that step, but it risks igniting a proxy war with Russia and driving a wedge between Washington and western Europe. Should he impose tougher sanctions on Russia? While sanctions have hurt the Russian economy, they have failed to deter President Vladimir Putin and it is unclear if they will do so in the f
  
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• Germany rejects Greek claim for World War Two reparations

  09-02-2015 16:27 via news.yahoo.com
  
  Germany said on Monday there was "zero" chance of it paying World War Two reparations to Athens, following a renewed demand from Greece's new leftist Prime Minister Alexis Tsipras. Tsipras, in his first major speech to parliament on Sunday, laid out plans to dismantle Greece's austerity program, ruled out any extension of its 240 billion euro international bailout and vowed to seek war reparations from Berlin. The demand for compensation, revived by a previous Greek government in 2013 but not pu
  
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