Finance news

• Rite Aid enters pharmacy benefit business with EnvisionRx buy

  11-02-2015 23:44
  
  (Reuters) - Drugstore operator Rite Aid Corp agreed to buy pharmacy benefit manager EnvisionRx for about $2 billion, looking to cut drug procurement costs as reimbursement rates fall.
  
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• TREASURIES-Prices turn lower on possible Greek agreement

  11-02-2015 23:42
  * Foreign demand at auction up (Adds late prices, background)
  
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• Eurogroup agreed way forward on Greece, discussions to continue-Luxembourg

  11-02-2015 23:37
  BRUSSELS, Feb 11 (Reuters) - Euro zone finance ministers agreed on a way forward to deal with Greece's financing problems and discussions will continue in the coming days, Luxembourg Finance Minister...
  
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• EU, Greek sources at odds on extent of possible deal

  11-02-2015 23:36 via news.yahoo.com
  
  Several diplomatic sources said the key issue may turn out to be the phrasing of any accord, giving the new Greek government an opportunity to show voters it had ended the formal deal while maintaining a package to prevent financial chaos. One Eurogroup source said a draft statement, which the other 18 ministers round the table hoped would be issued later on Wednesday, would show that Greece committed itself to economic reforms and to honoring its financial obligations.
  
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• UPDATE 2-SEC officials blast agency over clerical error on swaps rulemaking

  11-02-2015 23:36
  WASHINGTON, Feb 11 (Reuters) - U.S. securities regulators failed to consider a comment letter from a key derivatives trade group before adopting new swaps data reporting rules last month, prompting...
  
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• Eurogroup statement after Greece meeting imminent-officials

  11-02-2015 23:17
  BRUSSELS, Feb 11 (Reuters) - A Eurogroup statement after a meeting on Greece's debt problems is expected imminently, officials said on Wednesday.
  
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• Canada's Home Capital profit jumps, lender ups dividend

  11-02-2015 23:13
  TORONTO, Feb 11 (Reuters) - Canadian mortgage lender Home Capital Group Inc posted a 39 percent rise in fourth-quarter profit on Wednesday, as it upped its dividend by 10 percent.
  
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• Whole Foods beats 1Q profit forecasts, stock rises

  11-02-2015 23:08 via news.yahoo.com
  Whole Foods Market Inc. reported a nearly 6 percent increase in fiscal first-quarter profits, beating Wall Street estimates and showing growth in a key sales measure. The company's shares rose more than ...
  
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• Waldorf Astoria sale marks tip of Chinese money into U.S. hotels

  11-02-2015 23:03
  
  NEW YORK (Reuters) - The closing of the sale on Wednesday of New York's famed Waldorf Astoria hotel to China's Anbang Insurance Group Co Ltd for $1.95 billion marks the tip of an unprecedented wave...
  
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• El Salvador to launch investigation into Swiss HSBC accounts

  11-02-2015 22:57
  SAN SALVADOR, Feb 11 (Reuters) - El Salvador's attorney general on Wednesday said his office has launched an investigation to determine whether 54 Salvadorans were involved in opening 54 secret...
  
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• Andean credits outperform as crude woes weigh

  11-02-2015 22:57
  Feb 11 (IFR) - Andean and Mexican names outperformed in a flight-to-safety bid Wednesday as investors shed oil names and stayed clear of credits associated with the scandal at Brazil's...
  
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• EU, Greece come to agreement in principle, meetings to continue -CNBC

  11-02-2015 22:54
  NEW YORK, Feb 11 (Reuters) - Greece has reached an agreement in principle with the European Union to stay in an EU bailout program, CNBC reported on Wednesday, citing an unnamed source.
  
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• Global shares slip on worries over Greece; oil drops

  11-02-2015 22:44 via news.yahoo.com
  
  NEW YORK (Reuters) - Stock markets worldwide slipped on Wednesday on investor worries over the outcome of euro zone ministerial meetings about Greece's debt crisis, while oil prices dropped for a second day on more signs of oversupply.
  
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• CANADA FX DEBT-C$ squeezed by Bank of Canada, record oil stocks

  11-02-2015 22:43
  (Adds fresh comments, details and closing prices) * Canadian dollar ends at C$1.2641 or 79.11 U.S. cents * Bond prices mixed across the maturity curve By Solarina Ho TORONTO, Feb 11 (Reuters) - The...
  
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• Rite Aid and AOL are big market movers

  11-02-2015 22:40 via news.yahoo.com
  
  Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Rite Aid Corp., up 50 cents to $8.08 The drugstore operator is expanding into ...
  
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• Michigan governor unveils FY 2016 budget, cuts current budget

  11-02-2015 22:38
  Feb 11 (Reuters) - Michigan Governor Rick Snyder proposed a $54 billion, all-funds budget for fiscal 2016 on Wednesday, while also taking action to eliminate a $325 million projected shortfall in the...
  
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• Nvidia's fiscal fourth-quarter results beats estimates, stock rises

  11-02-2015 22:38 via news.yahoo.com
  
  By Noel Randewich SAN FRANCISCO (Reuters) - Nvidia Corp on Wednesday posted higher fiscal fourth-quarter results that beat Wall Street's expectations, boosting its shares...
  
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• Nvidia's fiscal fourth-quarter results beat estimates, stock rises

  11-02-2015 22:38 via news.yahoo.com
  
  By Noel Randewich SAN FRANCISCO (Reuters) - Nvidia Corp on Wednesday posted higher quarterly results that beat Wall Street expectations, sending its shares higher as the ...
  
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• GLOBAL MARKETS-Shares hit by Greece, Ukraine uncertainty; oil drops

  11-02-2015 22:38
  * U.S. shares mostly flat, European shares slide * Euro zone, Ukraine talks hurt sentiment * Oil slips on record-high U.S. crude stockpiles * Gold hits one-month low (Adds close of U.S. markets) By...
  
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• Trump Taj Mahal casino settles U.S. money laundering claims

  11-02-2015 22:33
  Feb 11 (Reuters) - The parent of Trump Taj Mahal, one of
  Atlantic City, New Jersey's struggling casinos, has settled U.S.
  government charges that it violated federal laws designed to
  thwart money...
  
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• IMF's Lagarde to make statement on Ukraine on Thursday

  11-02-2015 22:26
  BRUSSELS, Feb 11 (Reuters) - International Monetary Fund chief Christine Lagarde will make a statement on Ukraine at 0800 GMT on Thursday in Brussels, her office said in a statement.
  
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• UPDATE 1-Buenos Aires attracts solid demand for new bond

  11-02-2015 22:07
  NEW YORK, Feb 11 (IFR) - Investors piled into a new US$500m bond from the City of Buenos Aires on Wednesday, hoping to reap hefty gains if and when Argentina mends fences with international...
  
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• Wall Street ends near flat; Apple gains late

  11-02-2015 22:06 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - U.S. stocks closed flat on Wednesday as concern about Greece and Ukraine was offset by gains in shares of Apple. Based on the latest available data, the Dow Jones industrial average fell 7.77 points, or 0.04 percent, to 17,860.99, the S&P 500 lost 0.22 points, or 0.01 percent, to 2,068.37 and the Nasdaq Composite added 13.54 points, or 0.28 percent, to 4,801.18. (Reporting by Caroline Valetkevitch; Editing by Nick Zieminski)
  
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• GLOBAL MARKETS-Shares slip on worries over Greece; oil drops

  11-02-2015 21:49
  * U.S., European shares slip amid Greek debt meetings * Oil slips on record-high U.S. crude inventories * Gold hits one-month low (Updates market activity, prices) By Sam Forgione NEW YORK, Feb 11...
  
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• TREASURIES-Long maturities get lift from U.S. debt sale

  11-02-2015 21:30
  * Foreign demand at auction up (Adds auction results, price gains and quotes)
  
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• Ukrainian central bank says will hold "concluding" press briefing with IMF on Thursday

  11-02-2015 21:11
  KIEV, Feb 11 (Reuters) - Ukraine's central bank said on Wednesday it would hold a "concluding" joint press conference with the International Monetary Fund and the Ukrainian Finance Ministry in Kiev...
  
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• Wall Street dips as investors eye Greece and Ukraine talks

  11-02-2015 20:56 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - U.S. stocks edged lower on Wednesday as investors worried about how much risk they should take on while they wait for the outcomes of major talks involving Greece and Ukraine. Greek Finance Minister Yanis Varoufakis began tense talks with euro zone finance ministers on Wednesday after his new leftist-led government won a parliamentary confidence vote for its refusal to extend an international bailout. International Monetary Fund Chief Christine Lagarde said g
  
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• Revel sale hangs by a thread after court hearing, yelling match

  11-02-2015 20:35
  CAMDEN, N.J., Feb 11 (Reuters) - The sale of Atlantic City's
  shuttered Revel Hotel and Casino was hanging by the thinnest of
  threads on Wednesday after a U.S. bankruptcy judge denied a move
  to extend...
  
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• UPDATE 3-Rite Aid enters pharmacy benefit business with EnvisionRx buy

  11-02-2015 20:11
  * Shares rise as much as 12 pct (Adds comments by CEO, analysts; udpates share)
  
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• Scots nationalists say want end to austerity as price for UK power support

  11-02-2015 19:18 via news.yahoo.com
  
  By Andrew Osborn LONDON (Reuters) - The Scottish National Party said on Wednesday it would demand an end to austerity and billions of pounds in more British government spending if the opposition Labour Party needed its support to govern after a UK-wide national election on May 7. Seeking to parlay its growing popularity in Scotland into more influence in British politics, Nicola Sturgeon, the SNP's leader, gave a speech in London in which she argued for a slower rate of deficit reduction an
  
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• European stocks retreat before Greece meeting

  11-02-2015 18:49 via news.yahoo.com
  
  European equity markets pulled back on Wednesday, with Athens stocks tumbling ahead of an emergency meeting of eurozone finance ministers where Greece will unveil controversial proposals to overhaul its bailout. Greece's benchmark stocks index slumped 4 percent with investors fearful that Prime Minister Alexis Tsipras's hardline stance could set Greece on a path leading to its exit from the eurozone. London's benchmark FTSE-100 index ended the day down 0.16 percent to 6,818.17 poi
  
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• UPDATE 3-Air Canada loss widens, hurt by higher costs, weaker C$

  11-02-2015 18:13
  Feb 11 (Reuters) - Air Canada reported a wider fourth quarter net loss on Wednesday as operating costs rose, in part because of the weaker Canadian dollar, and adjusted earnings came in just shy of...
  
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• Ballard sells some fuel cell patents to Volkswagen, shares spike

  11-02-2015 18:06
  Feb 11 (Reuters) - Canadian fuel cell maker Ballard Power Systems Inc's shares soared 63 percent after it said Volkswagen AG would pay more than $80 million to buy some patents and extend a service...
  
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• Risk of contagion from Greece is low: ratings agency S&P

  11-02-2015 17:58 via news.yahoo.com
  
  The risk of Greece's turmoil spreading to the rest of the euro zone is low, a senior official at ratings agency Standard and Poor's said in a German newspaper interview on Wednesday. The risk of contagion doesn't seem to actually be that big," Moritz Kraemer, S&P's chief sovereign ratings officer, told Boersen-Zeitung. He said that if funds lent to Greece had to be written off, this would not necessarily have a negative impact on the credit ratings of its lenders.
  
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• FTSE ends lower on weaker commodity stocks, led down by Tullow

  11-02-2015 17:50
  LONDON, Feb 11 (Reuters) - Britain's top equity index fell for a fourth straight session on Wednesday, with commodity shares losing ground after crude oil prices dropped and copper prices trimmed...
  
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• Swiss government proposes draft law to curb immigration from EU

  11-02-2015 17:50 via news.yahoo.com
  
  By Ruben Sprich BERNE (Reuters) - The Swiss government on Wednesday proposed a draft law to limit immigration from the European Union following a referendum, but said it was seeking talks with the EU in order not to violate bilateral treaties, including on the free movement of people. A year ago, the Swiss voted to impose quotas on immigration in a referendum initiated by the right-wing Swiss People's Party. The measure was strongly opposed by the government as well as Swiss banks, drugmake
  
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• UPDATE 3-Sky shares fall as market weighs English soccer rights gamble

  11-02-2015 17:34
  * Sky to cut costs, increase some customer prices (Adds background)
  
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• Wall Street flat before Greek deal talks; Apple lifts Nasdaq

  11-02-2015 17:30 via news.yahoo.com
  
  Greek Finance Minister Yanis Varoufakis headed for a showdown at a meeting scheduled to start at 11:30 a.m. after his new leftist-led government won a parliamentary confidence vote for its refusal to extend an international bailout. The chairman of the meeting, Jeroen Dijsselbloem, said talks will likely be inconclusive. The Dow Jones industrial average fell 40.43 points, or 0.23 percent, to 17,828.33, the S&P 500 lost 0.2 points, or 0.01 percent, to 2,068.39 and the Nasdaq Composite added 1
  
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• Wall St flat before Greek deal talks; Apple lifts Nasdaq

  11-02-2015 17:26 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks were little changed on Wednesday as investors looked to a meeting of euro zone finance ministers for clues on the tone of negotiations to deal with Greece's debt crisis. Greek Finance Minister Yanis Varoufakis headed for a showdown at a meeting scheduled to start at 11:30 a.m. (1630 GMT) after his new leftist-led government won a parliamentary confidence vote for its refusal to extend an international bailout. The chairman of the meeting
  
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• US STOCKS-Wall St flat before Greek deal talks; Apple lifts Nasdaq

  11-02-2015 17:24 via news.yahoo.com
  
  Greek Finance Minister Yanis Varoufakis headed for a showdown at a meeting scheduled to start at 11:30 a.m. (1630 GMT) after his new leftist-led government won a parliamentary confidence vote for its refusal to extend an international bailout. Despite some high-profile earnings misses from large multinational companies, largely as a result of dollar strength, Thomson Reuters data through Wednesday morning showed 72.4 percent of the 352 S&P 500 components that have reported earnings topped expect
  
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• IMF offers support to Egypt's economic policies

  11-02-2015 17:13 via news.yahoo.com
  
  CAIRO (AP) — The International Monetary Fund offered support to Egypt's economic policies on Wednesday, after an executive review of its first broad consultations with Cairo authorities since before the country's 2011 uprising set off years of political instability.
  
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• Switzerland slides into deficit on surprise 9% revenue fall

  11-02-2015 17:11 via news.yahoo.com
  
  The Swiss government said Wednesday it suffered its first federal budget deficit in nearly a decade last year following a surprise nine percent drop in tax revenue. The deficit of 124 million Swiss francs (118.5 million euros or $133.8 million) was the first since 2005, and was also a surprise as Bern had forecast for 2014 a budget surplus of 121 million francs. Swiss Finance Minister Eveline Widmer-Schlumpf said "we will investigate" the 2.4 billion franc shortfall in revenues. In 201
  
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• FTSE falls, led down by Tullow, as commodity stocks weaken

  11-02-2015 17:08
  LONDON, Feb 11 (Reuters) - Britain's top equity index fell for a fourth straight session on Wednesday, with commodity shares losing ground after crude oil prices dropped and copper prices trimmed...
  
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• REFILE-UPDATE 2-Valeant to buy bankrupt vaccine maker Dendreon

  11-02-2015 17:04
  Feb 10 (Reuters) - Valeant Pharmaceuticals International Inc
  will scoop up bankrupt cancer vaccine maker Dendreon
  Corp, after no additional qualified bids came forward
  by Tuesday's deadline, Valeant...
  
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• BofA's U.S. banking unit helped fund tax-minimization trades - WSJ

  11-02-2015 16:55 via news.yahoo.com
  
  (Reuters) - Bank of America Corp used its government-backed U.S. banking unit for years to finance controversial trades that helped clients avoid taxes, the Wall Street Journal reported, citing internal documents and people familiar with the matter. The bank last year started phasing out the practice of using funds from the U.S. unit to finance transactions by its European investment-banking arm that, among other things, helped hedge funds avoid taxes on stock dividends, the Journal said on Wedn
  
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• CP Rail says it is ready for a strike

  11-02-2015 16:49 via news.yahoo.com
  
  By Allison Martell TORONTO (Reuters) - Canadian Pacific Railway Ltd managers will be ready to take over if train engineers and conductors in Canada strike this weekend, Chief Operating Officer Keith Creel said on Wednesday. He said a strike would reduce earnings at CP Rail, Canada's second biggest railway, by about one cent per day. "We won't be able to move 100 percent of the business, but certainly we're going to protect the business as best we can." Teamsters Canada Rail Conference gave notic
  
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• UPDATE 3-PepsiCo profit beats estimates; $12 billion buyback planned

  11-02-2015 16:29
  Feb 11 (Reuters) - PepsiCo Inc on Wednesday reported a higher-than-expected quarterly profit, helped by increased sales at its Frito-Lay snack business, and said it would buy back up to $12 billion...
  
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• IMF says Egypt's reforms starting to spur turnaround in economy

  11-02-2015 16:20 via news.yahoo.com
  
  By Yara Bayoumy CAIRO (Reuters) - The International Monetary Fund said on Wednesday that Egypt's structural and monetary reforms were starting to produce a turnaround in the economy, which has been hit by persistent turmoil since 2011. The uprising that toppled Hosni Mubarak four years ago hit the country's economy hard, discouraging investors and tourists and slashing growth to below 2 percent in 2010/2011. Egypt's current government has since embarked on a series of reforms, and
  
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• BUZZ-Mining shares risk travel and arrive after earnings

  11-02-2015 16:20 via news.yahoo.com
  
  ** Miners rallying into earnings season risks travel and arrive unless cos deliver big beats, according to traders ** Stoxx 600 Basic Resources index has jumped 13 pct since Jan. 14, detaching from underlying ...
  
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• Wall Street little changed ahead of Greek deal talks

  11-02-2015 16:00 via news.yahoo.com
  
  U.S. stocks were little changed on Wednesday, a day after the S&P 500 reached its highest level of the year and ahead of a meeting of euro zone finance ministers to discuss plans for Greece's debt. Greek Finance Minister Yanis Varoufakis headed for a showdown with euro zone finance ministers to deal with the nation's debt crisis at a meeting scheduled to start at 11:30 a.m. after his new leftist-led government won a parliamentary confidence vote for its refusal to extend an interna
  
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