Finance news

• Comcast fight with upstart Spanish station is grist for merger foes

  17-02-2015 23:56
  
  WASHINGTON (Reuters) - A fight between an upstart Spanish language TV network and Comcast Corp has provided more ammunition for critics who fear Comcast would gain too much market power if its buyout...
  
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• UPDATE 1-Fossil revenue hit by lower watch demand in N. America

  17-02-2015 23:55
  Feb 17 (Reuters) - Fossil Group Inc reported lower-than-expected quarterly revenue and profit due to a decline in watch and leather products sales in North America, and said net sales would decrease...
  
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• UPDATE 1-Boston Scientific to pay J&J $600 mln to settle Guidant suit

  17-02-2015 23:52
  Feb 17 (Reuters) - Medical device maker Boston Scientific Corp on Tuesday said it has agreed to pay $600 million to Johnson & Johnson to settle a long-running lawsuit over Boston Scientific's 2005...
  
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• WRAPUP 5-EU patience frays as Greek PM refuses "blackmail"

  17-02-2015 23:36
  * Markets largely hold nerve, betting on 11th-hour compromise
  
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• Canada's British Columbia projects fiscal 2015-16 budget surplus

  17-02-2015 23:34 via news.yahoo.com
  
  By Julie Gordon VICTORIA, British Columbia (Reuters) - British Columbia's annual budget released on Tuesday projected a budget surplus of C$284 million ($229.35 million) in fiscal 2015-16, the Pacific coast province's third consecutive balanced budget under the ruling Liberals.     The surplus is projected at C$376 million in 2016-17 and C$399 million in 2017-18, the government said. "Meeting even these near-term targets won't be easy," said finance minister Michael de Jong in his budget spee
  
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• LatAm credit spreads tighten as US Treasuries sell off

  17-02-2015 23:22
  NEW YORK, Feb 17 (IFR) - Latin American credits ended Tuesday's session unchanged in price but tighter in spread terms after optimism over a resolution to the stalemate between Greece and its...
  
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• UPDATE 1-Canada's British Columbia projects fiscal 2015-16 budget surplus

  17-02-2015 23:17
  VICTORIA, British Columbia, Feb 17 (Reuters) - British Columbia's annual budget released on Tuesday projected a budget surplus of C$284 million ($229.35 million) in fiscal 2015-16, the Pacific coast...
  
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• Soros Fund cut Market Vectors Gold Miner ETF stake in fourth quarter 2014: filing

  17-02-2015 23:12
  NEW YORK (Reuters) - Soros Fund Management LLC cut its stake in Market Vectors Gold Miners ETF by 27 percent in the fourth quarter of 2014, from the third quarter, a filing with the U.S. Securities...
  
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• Some top investors exit Herbalife, Soros added shares in fourth quarter

  17-02-2015 23:09 via news.yahoo.com
  
  By Svea Herbst-Bayliss BOSTON (Reuters) - Three of the top 20 investors in Herbalife Ltd liquidated their positions during the fourth quarter when the nutrition and weight loss company missed Wall Street earnings estimates, but Soros Fund Management increased its holdings by roughly 80 percent, regulatory filings show. Hedge fund manager Richard Perry, who had been Herbalife's fifth-largest shareholder, dumped his firm's entire 5.6 million- share stake sometime between October and the
  
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• Fed sets Feb. 19 for $30 bln repo auction

  17-02-2015 22:59
  WASHINGTON, Feb 17 (Reuters) - The New York Federal Reserve said on Tuesday it would sell $30 billion in reverse repurchase agreements on Feb. 19.
  
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• Boston Scientific to pay J&J $600 mln to settle Guidant suit

  17-02-2015 22:54
  Feb 17 (Reuters) - Medical device maker Boston Scientific Corp on Tuesday said it has agreed to pay $600 million to Johnson & Johnson to settle a long-running breach of merger lawsuit over Boston...
  
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• Canada's British Columbia projects budget surplus in fiscal 2015-16

  17-02-2015 22:51
  VICTORIA, British Columbia, Feb 17 (Reuters) - British Columbia's annual budget released on Tuesday projected a budget surplus of C$284 million ($229.35 million) in fiscal 2015-16, the Canadian...
  
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• UPDATE 2-U.S. identifying people to target for role in mortgage crisis

  17-02-2015 22:47
  WASHINGTON, Feb 17 (Reuters) - U.S. Attorney General Eric Holder said on Tuesday he has given federal prosecutors a 90-day deadline to decide whether they can bring cases against individuals for...
  
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• Oklahoma faces 8.3 pct revenue shortfall as energy sector slumps

  17-02-2015 22:44
  OKLAHOMA CITY, Feb 17 (Reuters) - Oklahoma is facing a $611 million shortfall in its upcoming budget, partially caused by a decrease in money it takes in from the energy industry, and state agencies...
  
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• WRAPUP 5-Putin tells Kiev to let troops surrender as Ukraine ceasefire unravels

  17-02-2015 22:31
  * Putin calls for surrender as Russia backs U.N. "concern" vote Kiev and separatists miss deadline to pull back big guns
  
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• S&P 500 ends at record high on Greece hopes, as bonds drop

  17-02-2015 22:31 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - The S&P 500 ended above 2,100 at another record high on Tuesday as optimism grew that a debt deal would be reached with Greece and as bond prices sold off. The report follows a collapse of deal negotiations on Monday, which led to European Union finance ministers pressuring the country to remain in an international financial rescue program. U.S. Treasury debt prices sold off, pushing benchmark 10-year note yields to seven-week peaks, on expectati
  
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• CANADA FX DEBT-C$ strongest close since rate cut as oil prices rise

  17-02-2015 22:30
  (Adds analyst comment, details, updates prices to close) * Canadian dollar at C$1.2374, or 80.81 U.S. cents * Bond prices lower across the maturity curve By Alastair Sharp TORONTO, Feb 17 (Reuters) -...
  
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• GLOBAL MARKETS-Euro, stocks recover on hopes of Greek deal

  17-02-2015 22:25
  * Treasury prices tumble in anticipation of Fed rate hike (Adds close of U.S. markets)
  
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• Robo-adviser Betterment raises $60 million, led by Francisco Partners

  17-02-2015 22:24
  NEW YORK (Reuters) - Betterment LLC raised $60 million from private equity firm Francisco Partners and other investors, the company said on Tuesday, the latest vote of confidence in the ability of...
  
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• S&P closes at record, breaches 2,100 with eye on Greece

  17-02-2015 22:20 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks ticked higher on Tuesday, pushing the S&P 500 to a record closing high above 2,100 as optimism grew that Greece would reach a deal with its creditors and as bond prices sold off.
  
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• US stocks eke out another record high; Goodyear gains

  17-02-2015 22:12 via news.yahoo.com
  
  A late tick higher was enough to set another record high for the U.S. stock market.
  
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• RPT-UPDATE 1-Bank of Portugal, Goldman gear up for legal battle over bank loan

  17-02-2015 22:04
  LISBON, Feb 17 (Reuters) - The Bank of Portugal on Tuesday stuck to a decision to keep a loan linked to Goldman Sachs in a "bad bank" carved out after the rescue of Banco Espirito Santo (BES),...
  
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• UPDATE 1-Bank of Portugal, Goldman gear up for legal battle over bank loan

  17-02-2015 22:03
  LISBON, Feb 17 (Reuters) - The Bank of Portugal on Tuesday stuck to a decision to keep a loan linked to Goldman Sachs in a "bad bank" carved out after the rescue of Banco Espirito Santo (BES),...
  
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• Asian bond ETFs ease investment barriers in hunt for yield

  17-02-2015 22:00
  HONG KONG, Feb 18 (Reuters) - Investors facing zero interest rates in the developed world are turning to Asian debt for higher returns through exchange traded funds (ETFs), driving a nearly 50...
  
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• Schwab settles NY lawsuit over auction-rate debt

  17-02-2015 21:43
  
  NEW YORK (Reuters) - Charles Schwab Corp has agreed to settle a 2009 lawsuit in which New York's attorney general accused the discount brokerage of fraud in the sale and marketing to investors of...
  
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• Wall St edges up; S&P hits 2,100 on Greece hopes

  17-02-2015 20:48 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks inched higher on Tuesday, pushing the S&P 500 above 2,100 to another record intraday high as optimism grew that a debt deal would be reached with Greece. The report follows a collapse of deal negotiations on Monday, which led to European Union finance ministers pressuring the country to remain in an international financial rescue program. U.S.-listed shares of the National Bank of Greece were up 1.6 percent after falling more than 13
  
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• Wall St. edges up; S&P hits 2,100 on Greece hopes

  17-02-2015 20:45 via news.yahoo.com
  
  U.S. stocks inched higher on Tuesday, pushing the S&P 500 above 2,100 to another record intraday high as optimism grew that a debt deal would be reached with Greece. The report follows a collapse of deal negotiations on Monday, which led to European Union finance ministers pressuring the country to remain in an international financial rescue program. U.S.-listed shares of the National Bank of Greece were up 1.6 percent after falling more than 13 percent earlier in the session. Despite that,
  
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• Judge says could narrow GM's bankruptcy defense in recall cases

  17-02-2015 20:43
  NEW YORK, Feb 17 (Reuters) - A judge said on Tuesday that if
  General Motors Co is found to have violated car owners'
  constitutional rights by hiding ignition-switch defects during
  its bankruptcy, he...
  
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• Confidence vote looms after French government forces through reforms

  17-02-2015 20:17 via news.yahoo.com
  
  France's government on Tuesday forced a key package of economic reforms through parliament in a rare move that sparked a confidence motion which could in theory bring it down. Struggling to win a majority for a set of reforms seen as vital to pep up the sluggish economy, Socialist Prime Minister Manuel Valls resorted to a little-used constitutional move to push the bill through parliament without a vote. The bill is now considered approved unless MPs vote through a motion of no-confidence b
  
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• Saladworks files for bankruptcy amid lawsuits with ex-Commerce CEO

  17-02-2015 20:05
  Feb 17 (Reuters) - Saladworks LLC, which calls itself the
  largest U.S. franchised fresh salad chain, filed for bankruptcy
  on Tuesday to fend off litigation by Commerce Bancorp Inc
  founder Vernon Hill...
  
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• Tepper's Appaloosa shows 40 percent decrease in long position value in fourth-quarter

  17-02-2015 19:45
  NEW YORK (Reuters) - David Tepper's Appaloosa Management saw a sharp decrease in the value of its bullish equity bets in the fourth quarter, months after the hedge fund manager warned against being...
  
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• Sale of Serbian steel plant to U.S. firm Esmark collapses

  17-02-2015 19:37
  BELGRADE (Reuters) - The sale of Serbia's sole steel mill to U.S. firm Esmark collapsed on Tuesday, in a blow to government efforts to rein in spending under the terms of a loan deal with the...
  
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• Global stocks, euro recover on hopes of Greek deal

  17-02-2015 19:30 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - The euro rebounded on Tuesday and global equity markets recovered to trade near break-even on signs Greek banks will continue to get emergency funding despite a breakdown in debt talks between Athens and euro zone finance ministers. Stocks on Wall Street pared early losses on news Greece said it intended to ask Wednesday for an extension of its loan agreement with the euro zone that would be apart from a full bailout program, a source in Brussels said.
  
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• UPDATE 2-Walter Energy forecasts drop in metallurgical coal volume

  17-02-2015 19:21
  * Shares fall as much as 11 pct (Adds details from conference call, analyst comment, background, updates shares)
  
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• Michigan governor puts renewed emphasis on blue-collar jobs

  17-02-2015 19:19 via news.yahoo.com
  
  WATERTOWN TOWNSHIP, Mich. (AP) — Only a few short years ago, Michigan leaders talked excitedly about diversifying the state's economy beyond the auto industry, envisioning a Silicon Valley-style workforce that would be less dependent on manufacturing and more invested in technology and green energy.
  
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• Wall Street flat, paring losses on Greece hopes

  17-02-2015 18:50 via news.yahoo.com
  
  The report follows a collapse of deal negotiations on Monday, which led to European Union finance ministers pressuring the country to remain in an international financial rescue program. U.S.-listed shares of the National Bank of Greece fell 8.7 percent to $1.47. Despite that, investors continued to monitor the situation cautiously, while a fragile Ukraine truce added to the market's uncertainty. "While there is concern, and it has become in vogue to say that stocks are expensive, it i
  
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• How to trim your Internet bill

  17-02-2015 18:48
  
  (Reuters) - You can cut your land line and sever your cable TV, but if you want to stream the new season of "House of Cards," you need to hang on to your Internet connection. Whatever savings you...
  
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• German investors shrug off Greek worries -- for now

  17-02-2015 18:46 via news.yahoo.com
  
  Investor sentiment in Germany is at it highest level in 12 months, buoyed by the feel-good effects of the European Central Bank's latest policy moves and positive growth figures, data showed on Tuesday. The widely watched investor confidence index calculated by the ZEW economic institute rose by 4.6 points to 53.0 points in February, its highest level since February 2014, ZEW said in a statement. "Quantitative easing by the European Central Bank and unexpectedly high economic growth in
  
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• French government forces through economic reforms

  17-02-2015 18:45 via news.yahoo.com
  
  France's government on Tuesday forced a key package of economic reforms through parliament without a vote but risked a confidence motion that could in theory bring it down. Struggling to win a parliament majority for a set of reforms seen as vital to pep up the sluggish economy, Prime Minister Manuel Valls used a rare constitutional move to push the bill through parliament. The bill is now considered approved unless parliament votes through a motion of no-confidence bringing down the govern
  
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• Sterling suffers vs stronger euro after inflation falls

  17-02-2015 18:36
  LONDON, Feb 17 (Reuters) - Sterling fell almost half a percent against the euro on Tuesday, as an afternoon recovery and some signs of greater optimism around the UK economy failed to offset a robust...
  
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• French PM uses decree to pass economic reform bill

  17-02-2015 18:34 via news.yahoo.com
  
  By Ingrid Melander PARIS (Reuters) - French Prime Minister Manuel Valls defied critics from left and right on Tuesday by declaring he would ram a flagship economic reform bill through parliament by decree, bypassing backbench rebels but exposing his government to a no-confidence vote. The package, which includes rules to broaden trading hours and deregulate some sectors, is aimed at spurring growth and persuading the European Commission to give Paris more time to get its public finances into lin
  
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• Oil falls as Ukraine, Greece heighten concerns over demand

  17-02-2015 18:14 via news.yahoo.com
  
  Crude oil futures fell on Tuesday as concerns about weak demand as a result of uncertainty in Europe outweighed worries about threats to Middle East production and the effect of U.S. output cuts. "Growing concerns about whether a ceasefire will hold and Greece's problems have got people worried about demand for oil in a shaky European economy," said Phil Flynn, analyst at Price Futures Group in Chicago. "I think it all started in silver with squeezing out of long positions, t
  
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• UPDATE 1-Celsus Therapeutics skin cream fails study; shares plunge

  17-02-2015 17:32
  Feb 17 (Reuters) - British drugmaker Celsus Therapeutics Plc's U.S.-listed shares plunged as much as 83 percent after the company's skin cream failed the main goal of a mid-stage study.
  
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• Wall Street edges lower amid overseas issues; energy falls

  17-02-2015 17:28 via news.yahoo.com
  
  U.S. stocks edged lower on Tuesday, with the S&P 500 pulling back from record levels as investors continued to grapple with the uncertainty over a Greek debt deal and a fragile Ukraine truce. Much of the advance came on signs of progress for the debt deal in Greece, as well as reduced tension between Russia and Ukraine. European Union finance ministers pressured Greece to remain in an international financial rescue program after talks collapsed on Monday. U.S.-listed shares of the National B
  
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• Transocean CEO exit seen unlikely to swing fortunes

  17-02-2015 17:01
  Feb 17 (Reuters) - Transocean Ltd's decision to replace its chief executive will do little to help the company cope with an aging fleet and lower demand for its rigs due to a steep fall in oil...
  
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• European shares 'resilient' in face of Greek bailout stand-off

  17-02-2015 16:54 via news.yahoo.com
  
  Europe's main stock markets Tuesday showed "resilience" following the collapse of Greek bailout talks, while Athens shares slumped on fears the country could be forced out of the eurozone. In mid-afternoon trading Athens' main index was down 1.95 percent to 842.88 points, while London's benchmark FTSE 100 index rose 0.14 percent to stand at 6,866,58 points in afternoon deals. The euro gained to $1.1418 from $1.1355 late in New York on Monday, when the single currency and
  
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• French govt uses power to pass economic reform without vote

  17-02-2015 16:46 via news.yahoo.com
  
  PARIS (AP) — The French government has decided to invoke a constitutional article allowing for passage of a bill without a vote to get its economic reform bill through a contentious lower house. The decision came shortly before a scheduled vote on the measure that is a centerpiece of President Francois Hollande's economic strategy.
  
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• French government pushes through shop hour reforms without vote

  17-02-2015 16:43 via news.yahoo.com
  
  Paris (AFP) - France's prime minister on Tuesday decided to push a key package of economic reforms through parliament without a vote, in an emergency move that could spark a confidence vote in the government.
  
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• French government uses decree to pass key economic bill

  17-02-2015 16:40 via news.yahoo.com
  
  PARIS (Reuters) - The French government said on Tuesday it was passing President Francois Hollande's flagship economic reform bill by decree, a rare move taken to remove the risk of it being blocked by a backbench rebellion.
  
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• Wall St opens flat, S&P 500 near record

  17-02-2015 16:36 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks opened flat on Tuesday, the first trading session after the S&P 500 closed at a record high, although investors continued to watch the uncertainty over a Greek debt deal and a fragile Ukraine truce. The Dow Jones industrial average fell 26.69 points, or 0.15 percent, to 17,992.66, the S&P 500 lost 2.5 points, or 0.12 percent, to 2,094.49 and the Nasdaq Composite dropped 4.49 points, or 0.09 percent, to 4,889.35. (Reporting by Ryan Vlastelica; Editing by N
  
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