Finance news

• UPDATE 1-U.S.-based taxable bond funds attract $7.7 bln inflows-Lipper

  12-02-2015 23:52
  (Adds flow data, analyst comment) By Sam Forgione NEW YORK, Feb 12 (Reuters) - Investors in U.S.-based funds poured $7.7 billion into taxable bond funds in the week ended Feb. 11, with investors...
  
  Read more

• UPDATE 1-ConAgra names Sean Connolly CEO, cuts profit forecast

  12-02-2015 23:37
  Feb 12 (Reuters) - ConAgra Foods Inc, the maker of Slim Jim beef jerky and Chef Boyardee pasta, appointed former Hillshire Brands Co Chief Executive Sean Connolly its CEO, replacing Gary Rodkin.
  
  Read more

• Groupon outlook disappoints; Ticket Monster draws interest

  12-02-2015 23:18 via news.yahoo.com
  
  SAN FRANCISCO (Reuters) - Groupon Inc gave a forecast for first-quarter results that fell short of Wall Street's expectations on Thursday, as the online commerce company confirmed that ...
  
  Read more

• Groupon outlook disappoints, shares slide after hours

  12-02-2015 23:18 via news.yahoo.com
  
  SAN FRANCISCO (Reuters) - Groupon Inc's forecast for first-quarter results fell short of Wall Street's expectations, as the online commerce company has been struggling to rev up sales a...
  
  Read more

• Advertisement

• Exclusive: Brazil seeks to block return to free trade in autos with Mexico - sources

  12-02-2015 23:16 via news.yahoo.com
  
  By Ana Isabel Martinez and Alonso Soto MEXICO CITY/BRASILIA (Reuters) - Grappling with tumbling auto sales and weak economic growth, Brazil wants to derail a pact that would allow unlimited imports of cars from Mexico, sources familiar with the situation say, in a move that could stoke trade tensions between Latin America's largest economies.     A treaty between the two nations and auto manufacturers, which sets quotas on how many light vehicles Mexico and Brazil can sell each other,
  
  Read more

• U.S. plays down new Russia sanctions as ceasefire deal eyed

  12-02-2015 23:14 via news.yahoo.com
  
  The United States played down the chances of new sanctions on Russia while it assesses whether a deal to end the conflict in eastern Ukraine, including the withdrawal of Russian forces and equipment, is carried out. The agreement envisages a ceasefire between Ukrainian forces and Russian-backed separatists taking hold from Sunday, the withdrawal of heavy weapons from the front lines and constitutional reform to give eastern Ukraine more political autonomy. While saying it had not taken the possi
  
  Read more

• South African parliament descends into chaos as Zuma gets hostile reception

  12-02-2015 23:11 via news.yahoo.com
  
  By Wendell Roelf CAPE TOWN (Reuters) - South Africa's parliament descended into chaos on Thursday as opposition lawmakers were removed by force after disrupting Jacob Zuma's annual address, an unprecedented sign of discontent at his administration. The President's first State of the Nation speech since his re-election last May had been billed as an opportunity to highlight the achievements of the ruling African National Congress (ANC) and its plans for the year ahead. Zuma had bar
  
  Read more

• No negotiations entered into on Greek issues at summit -EU's Tusk

  12-02-2015 23:06 via news.yahoo.com
  
  BRUSSELS (Reuters) - European Union leaders did not enter into any negotiations with Greek Prime Minister Alexis Tsipras on any issues related to the country's economic problems, the chairman of the talks Donald Tusk said on Thursday.
  
  Read more

• Advertisement

• UPDATE 1-New games help King Digital revenue, profit beat estimates

  12-02-2015 23:05
  Feb 12 (Reuters) - Mobile game maker King Digital Entertainment Plc's quarterly revenue and profit handily beat market estimates as newer games such as "Candy Crush Soda Saga" more than made up for...
  
  Read more

• UPDATE 1-Groupon outlook disappoints, shares slide after hours

  12-02-2015 22:58
  SAN FRANCISCO, Feb 12 (Reuters) - Groupon Inc's forecast for first-quarter results fell short of Wall Street's expectations, as the online commerce company has been struggling to rev up sales and...
  
  Read more

• Orbitz and Cisco Systems are big market movers

  12-02-2015 22:45 via news.yahoo.com
  
  Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Orbitz Worldwide Inc., up $2.10 to $11.72 Expedia Inc. is buying the online travel ...
  
  Read more

• Shares rally on Russia-Ukraine deal, Swedish QE surprise

  12-02-2015 22:44 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - Major U.S. and European equity indices rallied to multiyear or record highs on Thursday after a cease-fire between Russian separatists and Ukrainian forces and surprisingly aggressive stimulus by Sweden's central bank cheered global markets. U.S. Treasury prices wavered as data showed U.S. consumer spending barely rose in January and initial claims for state unemployment benefits rose more than expected, suggesting the economy started the first quarter o
  
  Read more

• Wall Street ends sharply higher on tech, Ukraine deal

  12-02-2015 22:30 via news.yahoo.com
  
  U.S. stocks ended sharply higher on Thursday, with a rally in technology stocks leading the Nasdaq to a 15-year high, while a ceasefire agreement between Russia and Ukraine also eased tensions. The day's gains were broad, with eight of the 10 primary S&P 500 sectors rising, and the S&P information technology sector rose 1.6 percent in its third straight daily advance. Cisco Systems climbed 9.4 percent to $29.46 in the network equipment maker's biggest one-day jump since May 201
  
  Read more

• Watch Greek taxpayers and depositors: James Saft

  12-02-2015 22:29
  
  (Reuters) - Successful resolution of the Greek euro fracas may depend on the players’ ability to scare the right people in the right measure.
  
  Read more

• U.S. muni bond funds post $460.3 million in inflows: Lipper

  12-02-2015 22:27
  (Reuters) - U.S. municipal bond funds reported $460.3 million of net inflows in the week ended Feb. 11, compared with $589.1 million in inflows in the previous week, according to data released by...
  
  Read more

• AIG fourth-quarter earnings miss as corporate category underperforms

  12-02-2015 22:12 via news.yahoo.com
  
  Insurer American International Group Inc reported lower-than-expected fourth-quarter earnings on Thursday, hurt by the performance in its corporate category. Hancock succeeded Bob Benmosche, who was widely credited with helping turn the company around after bad bets on derivatives nearly sank the company during the financial crisis.
  
  Read more

• Brazil's Eneva proposes up to 65 pct debt haircut in bankruptcy plan

  12-02-2015 22:08
  SAO PAULO, Feb 12 (Reuters) - Creditors of Eneva SA
  stand to lose as much as 65 percent of their
  investment in the Brazilian power producer as part of a
  bankruptcy protection plan unveiled on...
  
  Read more

• Wall St. closes sharply higher, tech leads

  12-02-2015 22:08 via news.yahoo.com
  
  NEW YORK (Reuters) - Stocks ended sharply higher on Thursday, with a rally in technology stocks leading the Nasdaq to a 15-year high, helping to offset the impact of some tepid economic data.
  
  Read more

• Wall Street closes sharply higher, tech leads

  12-02-2015 22:06 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks ended sharply higher on Thursday, with a rally in technology stocks leading the Nasdaq to a 15-year high, helping to offset the impact of some tepid economic data. The Dow Jones industrial average rose 106.9 points, or 0.6 percent, to 17,969.04, the S&P 500 gained 19.69 points, or 0.95 percent, to 2,088.22 and the Nasdaq Composite added 56.43 points, or 1.18 percent, to 4,857.61. (Reporting by Ryan Vlastelica; Editing by Nick Zieminski)
  
  Read more

• UPDATE 5-Bombardier shakes up leadership, seeks $2 bln as CSeries costs jump

  12-02-2015 21:56
  * Pierre Beaudoin takes over as chairman (Adds comments from fund managers)
  
  Read more

• Lessons on life, and money, at summer camp

  12-02-2015 21:50
  
  NEW YORK (Reuters) - Parents who are about to write big checks for summer camp deposits may want to pause and consider if they've made the best choice of camp so their kids have a great social...
  
  Read more

• UPDATE 1-U.S. judge says $178 mln Detroit bankruptcy fee tab 'reasonable'

  12-02-2015 21:36
  Feb 12 (Reuters) - The federal judge who oversaw Detroit's
  historic bankruptcy case ruled on Thursday that the nearly $178
  million charged to the city by law firms and consultants for
  fees and...
  
  Read more

• Alexandre Martin, Richard Palmer join Russell Investments

  12-02-2015 21:28
  (Reuters) - Seattle-based Russell Investments appointed Alexandre Martin and Richard Palmer addition implementation portfolio managers to boost its global transition management team.  
  
  Read more

• HP moves annual meeting online-only as CEO face time fades

  12-02-2015 21:20
  
  BOSTON (Reuters) - Hewlett-Packard Co will become the largest company to hold an online-only annual shareholder meeting this March, joining a trend toward virtual conferences that some activists...
  
  Read more

• UPDATE 3-Teck may cut dividend if coal prices do not strengthen

  12-02-2015 20:51
  TORONTO, Feb 12 (Reuters) - Teck Resources Ltd said on Thursday it might have to reduce its dividend in July if industry-wide cuts in the production of steelmaking coal fail to lift prices from...
  
  Read more

• South African parliament descends into chaos during Zuma speech

  12-02-2015 20:47 via news.yahoo.com
  
  The opening of South Africa's parliament descended into chaos on Thursday as security officers fought with far-left Economic Freedom Fighters (EFF) lawmakers after they disrupted President Jacob Zuma's speech. Zuma's first State Of The Nation address since winning an election last May had been billed as an opportunity for him to highlight the achievements of the ruling African National Congress (ANC) and its plans for the year ahead.
  
  Read more

• U.S. judge says $178 mln Detroit bankruptcy fee tab 'reasonable'

  12-02-2015 20:42
  Feb 12 (Reuters) - The U.S. federal court judge who oversaw
  Detroit's historic bankruptcy case ruled on Thursday that the
  nearly $178 million charged to the city by law firms and
  consultants for fees...
  
  Read more

• Valeant secures financing for potential Salix bid: Bloomberg

  12-02-2015 20:42
  
  (Reuters) - Canada's Valeant Pharmaceuticals International Inc has arranged financing for a potential takeover bid for bowel-drug maker Salix Pharmaceuticals Ltd , Bloomberg reported, citing...
  
  Read more

• Tesla years away from its goal of reaching Apple's market cap

  12-02-2015 20:25
  NEW YORK, Feb 12 (Reuters) - How far does electric car maker Tesla Motors Inc have to go to reach its goal of matching Apple Inc's current market value? It would take 26 years, based on rough...
  
  Read more

• Zurich Insurance posts drop in 2014 profit

  12-02-2015 20:16 via news.yahoo.com
  
  Swiss group Zurich Insurance on said Thursday its net profit dropped 3 percent last year due to the sale of a Russian business and a tough economic environment. Chief Executive Officer Martin Senn said the results were "below expectations," saying the insurance industry was buffeted by "external headwinds" and a tough macroeconomic environment. Zurich Insurance spokeswoman Sylvia Gaumann also blamed the lower profit on a $247 million loss in the fourth quarter over the sale o
  
  Read more

• Charles Schwab says it seeks new CFO

  12-02-2015 20:07
  
  NEW YORK (Reuters) - Charles Schwab Corp is searching for a new chief financial officer to replace Joe Martinetto, who will switch to a different role later this year, Chief Executive Officer Walt...
  
  Read more

• Wyatt Crowell named HSBC Bank USA head of N America commercial banking

  12-02-2015 20:05
  (Reuters) - HSBC Bank USA, a subsidiary of HSBC Holdings Plc, appointed Wyatt Crowell senior executive vice president and head of commercial banking for North America, effective immediately.
  
  Read more

• LPL's Stratos Wealth adds financial advisory firm

  12-02-2015 20:04
  (Reuters) - LPL Financial Holdings Inc's fast-growing network firm, Stratos Wealth Partners, acquired a financial advisory firm and transitioned it to LPL's platform.
  
  Read more

• U.S. has raised concerns with China about new cyber rules-official

  12-02-2015 19:59 via news.yahoo.com
  
  The Obama administration sees planned new cybersecurity rules in China as a "major barrier" to trade and has raised concerns with Beijing at the highest level, a senior U.S. official said on Thursday. Deputy U.S. Trade Representative Robert Holleyman said the new regulations, which would force technology vendors to Chinese banks to hand over secret source code and adopt Chinese encryption algorithms, ran counter to Beijing's moves to open its markets and economy. "There's been engagement at the
  
  Read more

• L'Oreal profit soars behind sale of skin-care business

  12-02-2015 19:44 via news.yahoo.com
  
  PARIS (AP) — French cosmetics giant L'Oreal says the sale of a skin care subsidiary underpinned a 66 percent rise in profits last year, while sales in its key consumer products business fell amid a volatile economic environment.
  
  Read more

• Global shares rally on Russia-Ukraine deal, Swedish QE surprise

  12-02-2015 19:42 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - A ceasefire between Russian separatists and Ukrainian forces and surprisingly aggressive stimulus from Sweden's central bank injected optimism into global equity markets, which had been numbed by a stalemate in Greek debt negotiations. U.S. Treasury prices rose as data showed U.S. consumer spending barely rose in January and initial claims for state unemployment benefits rose more than expected, suggesting the economy started the first quarter on a softe
  
  Read more

• Tech rally, Ukraine deal boost Wall Street

  12-02-2015 19:30 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - U.S. stocks advanced broadly on Thursday, with a rally in technology stocks leading the Nasdaq to a 15-year high, helping to offset the impact of some tepid economic data. Sentiment was also boosted by a ceasefire agreement between Russia and Ukraine, which soothed concerns that tensions in the region would prove a further drag on Europe's economy. The S&P information technology sector rose 1.4 percent in its third straight daily advance. Cisco Sy
  
  Read more

• US STOCKS-Tech rally, Ukraine deal boost Wall Street

  12-02-2015 19:29 via news.yahoo.com
  
  U.S. stocks advanced broadly on Thursday, with a rally in technology stocks leading the Nasdaq to a 15-year high, helping to offset the impact of some tepid economic data. Sentiment was also boosted by ...
  
  Read more

• South African security officers remove opposition lawmakers during Zuma speech

  12-02-2015 19:24 via news.yahoo.com
  
  CAPE TOWN (Reuters) - South African security officers removed far-left Economic Freedom Fighters (EFF) lawmakers from parliament on Thursday after they disrupted President Jacob Zuma's State-Of-The-Nation speech and members of the main opposition walked out in protest. EFF lawmakers interrupted Zuma with questions over alleged graft in a $23 million upgrade to his Nkandla home. Speaker Baleka Mbete told the EFF members that it was "not a question session" before asking for them to
  
  Read more

• Fidelity 2014 profit surged, but equity outflows doubled

  12-02-2015 19:12
  BOSTON (Reuters) - Fidelity Investments said on Thursday operating profit rose 29 percent to $3.4 billion in 2014 as growth in its financial services business and cost cuts outweighed the effect of...
  
  Read more

• UBS inaugural AT1 CoCo possible for Friday launch

  12-02-2015 18:43
  LONDON, Feb 12 (IFR) - A multi-tranche, multi-currency
  inaugural Additional Tier 1 bond issue for UBS could emerge as
  early as Friday, according to a source, joining the growing wave
  of supply in the...
  
  Read more

• ECB's Noyer: Greek debt deal is possible if government serious

  12-02-2015 18:43 via news.yahoo.com
  
  European Central Bank Governing Council member Christian Noyer said on Thursday that a deal on Greek debt was within reach but that Greece's government must be ready to negotiate seriously in order for it to be achieved. "A deal is possible (on Greek debt) but the Greeks must decide to negotiate seriously," he told BFM Business TV. Noyer declined to comment on reports that the ECB had increased its ELA (emergency liquidity assistance) loans to Greece, but said that its ceiling was "able to be ad
  
  Read more

• UPDATE 2-Avon expects North America to turn profitable in 2015

  12-02-2015 18:36
  Feb 12 (Reuters) - Avon Products Inc said it expects its North American business to turn profitable for the first time in three years, allaying some investor concerns after the company reported a...
  
  Read more

• Equities bask in 'weird world' of negative yields

  12-02-2015 18:24 via news.yahoo.com
  
  By Alistair Smout and Blaise Robinson LONDON (Reuters) - Investors are pouring money into stocks as bond yields turn negative, setting aside concerns over whether political events and flagging growth will derail Europe's stock-market rally of the last few years. Central banks have been driving interest rates down to zero to revive their economies and avoid deflation, in a move that has given equities a leg up. The gap between the dividend yields on European stocks versus benchmark bond yields is
  
  Read more

• Pimco Total Return Fund focusing on seven- to 10-year maturities: CIO

  12-02-2015 18:15
  NEW YORK (Reuters) - The Pimco Total Return Fund, the world's largest bond fund, has moved its exposure into longer maturing fixed-income securities, reflecting the belief that the Federal Reserve...
  
  Read more

• South Africa's rand, bonds firm as cheer returns to markets

  12-02-2015 18:14 via news.yahoo.com
  
  South Africa's rand pulled back from its worst levels in nearly 13 years, firming by over half a percent, while bonds also strengthened on Thursday as cheer returned to global markets wrecked by fiscal uncertainty. Government bonds also firmed, following a switch bond auction earlier that saw the National Treasury offer investors a chance to swap short-term notes for longer-dated instruments. Just over 11 billion rand ($935.37 million) worth of the shorter-dated bonds were sold," fixed
  
  Read more

• UPDATE 1-Novavax starts Ebola vaccine trial in humans

  12-02-2015 18:06
  * Co says can manufacture millions of doses a month (Adds CEO comment, detail)
  
  Read more

• U.S. retail sales data point to slower economic growth

  12-02-2015 18:06 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer spending barely rose in January as households cut back on purchases of a range of goods, suggesting the economy started the first quarter on a softer note. Sluggish spending came despite cheap gasoline and a buoyant labor market, leaving economists to speculate that consumers were using the extra income to pay down debt and boost savings. "There is a risk of a temporary soft patch for the economy as it is somewhat surprising the consume
  
  Read more

• Nigerian central bank chief pleads for calm as naira tumbles

  12-02-2015 17:51 via news.yahoo.com
  
  By Oludare Mayowa LAGOS (Reuters) - Nigeria's central bank chief said on Thursday there was "no need to panic" about a slide in the currency, after figures showed the bank had been burning through more than $110 million a day in a vain attempt to defend it. The naira has crashed through the key level of 200 to the dollar this week in a rout sparked by weak oil prices and escalating tension over the postponement of a presidential election in Africa's biggest economy. He ruled
  
  Read more

• Wall Street climbs on Ukraine deal, Swedish stimulus

  12-02-2015 17:42 via news.yahoo.com
  
  U.S. stocks climbed on Thursday and the Nasdaq touched a 15-year high following a ceasefire agreement between Russia and Ukraine and surprising stimulus measures by Sweden's central bank, although soft economic data tempered gains. Leaders of Germany, France, Russia and Ukraine agreed a deal to end fighting in eastern Ukraine, potentially removing a concern for investors, although the pact remained fragile. Talks over Greek debt with euro zone finance ministers failed to yield an agreement
  
  Read more

Follow @FinanceUSA_News on Twitter!