Finance news

• Deutsche Bank, Santander U.S. units likely to fail Fed stress test - WSJ

  20-02-2015 23:59 via news.yahoo.com
  (Reuters) - European banks including Deutsche Bank AG and Banco Santander SA are likely to fail the U.S. Federal Reserve's stress test over shortcomings in how they measure and predict potential losses and risks, the Wall Street Journal reported, citing people familiar with the matter. Deutsche Bank Trust Corp is expected to be found adequately capitalized by the Fed but will likely receive a warning on qualitative shortcomings, the newspaper said, citing people familiar with the matter.
  
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• Greece wins eurozone bailout deal with strict conditions

  20-02-2015 23:58 via news.yahoo.com
  
  The 19 eurozone finance ministers reached the hard-won deal at tense talks pitting Greece against an angry Germany, suspicious that the new radical leftist government in Athens was looking to ditch its austerity obligations. "The meeting was intense because it was about building trust between us," said Eurogroup head Jeroen Dijsselbloem, after the talks ended with a two-page statement setting out the tough conditions Athens will have to fulfil. Greek Finance Minister Yanis Varoufakis s
  
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• Ex-Barclays brokers can keep nearly $4 million in bonus money -panel

  20-02-2015 23:47
  (Reuters) - Two former Barclays stockbrokers can keep nearly $4 million in signing bonuses, an arbitration panel has ruled, handing down a rare rebuke of a controversial recruiting practice common...
  
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• Ex-Barclays brokers can keep nearly $4 mln in bonus money -panel

  20-02-2015 23:45
  Feb 20 (Reuters) - Two former Barclays stockbrokers can keep nearly $4 million in signing bonuses, an arbitration panel has ruled, handing down a rare rebuke of a controversial recruiting practice...
  
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• Youth fighting 'superbug' infection from Los Angeles outbreak

  20-02-2015 23:41
  LOS ANGELES, Feb 20 (Reuters) - An 18-year-old man who was one of seven patients infected with a drug-resistant bacterial "superbug" during a medical procedure in Los Angeles was under 24-hour...
  
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• UPDATE 1-CN Rail threatens to lock out union in bid to force deal

  20-02-2015 23:39
  TORONTO, Feb 20 (Reuters) - Canadian National Railway Co said on Friday that barring a settlement by this weekend with Unifor, a union that represents 4,800 of its mechanical, clerical and intermodal...
  
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• UPDATE 5-Canada demands oil trains carry more insurance, levy imposed

  20-02-2015 23:27
  OTTAWA, Feb 20 (Reuters) - Canada will increase the insurance railways must carry when they haul crude oil and impose a levy on shippers to help cover the cost of major accidents in the burgeoning...
  
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• Google wins dismissal of U.S. lawsuit over Android app limits

  20-02-2015 23:24
  Feb 20 (Reuters) - A federal judge on Friday dismissed a lawsuit accusing Google Inc of harming smartphone buyers by forcing handset makers that use its Android operating system to make the search...
  
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• Moody's downgrades Russia debt to 'junk' level

  20-02-2015 23:23 via news.yahoo.com
  
  Washington (AFP) - Moody's cut Russia's debt rating by one notch into 'junk' territory Friday, saying the Ukraine crisis and the fall in oil prices and the ruble will further undermine Russia's economy.
  
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• MOVES-Raymond James, DekaBank, Leonteq AG

  20-02-2015 23:22
  Feb 20 (Reuters) - The following financial services industry appointments were announced on Friday. To inform us of other job changes, email [email protected].
  
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• ON THE MOVE-Raymond James unit hires advisers from Ameriprise

  20-02-2015 23:12
  Feb 20 (Reuters) - Raymond James & Associates hired a team of advisers from Ameriprise Financial Services Inc, a unit of asset manager and brokerage firm Ameriprise Financial Inc .
  
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• Nasdaq gains for eighth straight day, nearing dot-com high

  20-02-2015 23:09 via news.yahoo.com
  
  The Nasdaq composite rose for an eighth straight day Friday, pushing the index closer to its all-time closing high. The index climbed with the overall stock market after Greece and its creditors in the ...
  
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• WRAPUP 9-Greece, euro zone agree four-month loan extension, avert crunch

  20-02-2015 23:03
  BRUSSELS, Feb 20 (Reuters) - Euro zone finance ministers agreed in principle on Friday to extend Greece's financial rescue by four months, averting a potential cash crunch in March that could have...
  
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• Moody's downgrades Russia's sovereign rating to junk

  20-02-2015 23:01
  Feb 20 (Reuters) - Moody's Investors Service downgraded Russia's sovereign rating to Ba1 from Baa3, citing the impact from the Ukraine crisis, a fall in oil prices and the rouble exchange rate.
  
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• Arista and Noodles are big market movers

  20-02-2015 22:59 via news.yahoo.com
  
  Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Arista Networks Inc. (ANET), up 51 cents to $68.50 The data networking company ...
  
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• GLOBAL MARKETS-Stocks hit record highs on Greek accord, euro gains

  20-02-2015 22:52
  * Germany's DAX sets intraday record; Dow, S&P at closing record
  
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• REFILE-GLOBAL MARKETS-Euro rebounds, stocks surge on Greek loan accord

  20-02-2015 22:51
  NEW YORK, Feb 20 (Reuters) - The euro rebounded against the dollar and global equity markets surged to record highs on Friday after Greece and euro zone finance ministers reached an agreement to...
  
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• TREASURIES-Prices fall after Greek bailout agreement

  20-02-2015 22:49
  * Traders await Fed chair's congressional testimony (Recasts, adds price declines, quotes and background)
  
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• GREEK FINMIN VAROUFAKIS SAYS TODAY'S AGREEMENT IS FIRST STEP, THOUGH HAS NOT SOLVED PROBLEM OF FISCAL GAP

  20-02-2015 22:33
  GREEK FINMIN VAROUFAKIS SAYS TODAY'S AGREEMENT IS FIRST STEP, THOUGH HAS NOT SOLVED PROBLEM OF FISCAL GAP
  
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• CANADA FX DEBT-C$ slips as retail sales disappoint; monetary policy eyed

  20-02-2015 22:32
  * Canadian dollar ends at C$1.2546, or 79.71 U.S. cents * Big drop in retail sales boosts odds of rate cut * Central banks in focus next week * Bond prices higher across maturity curve By Alastair...
  
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• Dow, S&P 500 end at record highs on Greece debt deal

  20-02-2015 22:30 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - The Dow and S&P 500 ended at record highs on Friday while the Nasdaq notched an eighth straight day of gains after Greek and euro zone finance ministers reached a deal to extend heavily indebted Greece's financial rescue by four months. The Nasdaq matched an eight-session winning streak from a year ago and inched closer to its 5,132.52 March 2000 all-time intraday high, reached just before the dot-com bubble burst. The Greek accord will allo
  
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• Ivanhoe Energy seeks bankruptcy protection as oil prices weigh

  20-02-2015 22:30
  CALGARY, Alberta, Feb 20 (Reuters) - Ivanhoe Energy Inc said on Friday it will seek protection under Canada's Bankruptcy and Insolvency Act, as the company becomes the latest small oil-sands...
  
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• No payout for Greece before programme is completed - Schaeuble

  20-02-2015 22:24
  BRUSSELS, Feb 20 (Reuters) - German Finance Minister Wolfgang Schaeuble said on Friday that there would be no payout of new funds to Greece before it has successfully completed its bailout...
  
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• Marcato pressures Sotheby's to buy back shares, replace CFO

  20-02-2015 22:23
  (Reuters) - Activist investor Marcato Capital Management LP said auction house Sotheby's should repurchase $500 million stock immediately and replace its chief financial officer.
  
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• Stock market hits new high after Greece gets loan extension

  20-02-2015 22:18 via news.yahoo.com
  
  NEW YORK (AP) — The stock market is closing at an all-time high after Greece reached a deal with creditors to extend its bailout.
  
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• Dow, S&P 500 end at record highs on Greek deal news

  20-02-2015 22:10 via news.yahoo.com
  
  NEW YORK (Reuters) - The Dow and S&P 500 ended at record highs on Friday and the Nasdaq notched an eighth straight day of gains after Greece and euro zone finance ministers reached a deal to extend heavily indebted Greece's financial rescue by four months.
  
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• Ireland says China agrees to lift ban on Irish beef

  20-02-2015 22:01 via news.yahoo.com
  
  China has agreed to lift its ban on Irish beef, Ireland's Prime Minister Enda Kenny said on Friday, making it the only European country to be allowed to export beef to both the United States and China. Ireland last month became the first European Union country to regain access to the lucrative U.S. market, 17 years after Washington banned EU imports over the mad cow disease, or BSE, epidemic that spread from Britain to mainland Europe. "I'm delighted to announce this evening that we have now rea
  
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• Sysco not in talks to settle U.S. lawsuit to stop merger: lawyer

  20-02-2015 21:32
  WASHINGTON (Reuters) - Sysco Corp is not holding settlement talks with the U.S. government to resolve a lawsuit aimed at stopping a $3.5 billion merger of the food distributor and its largest rival,...
  
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• Advisers tout 'fiduciary' label to stand out from crowd

  20-02-2015 21:08
  (Reuters) - Financial advisers looking to show they have their clients' best interests at heart are paying to certify that they adhere to a "fiduciary" standard that regulators have been debating for...
  
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• SEC investor advocate raps Congress over financial data bill

  20-02-2015 21:07
  WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission's top investor watchdog blasted Congress on Friday over a bill that would exempt a broad swath of companies from rules requiring...
  
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• Dow, S&P 500 at intraday highs on Greece debt deal news

  20-02-2015 21:04 via news.yahoo.com
  
  U.S. stocks rose on Friday in a relief rally after Greece and euro zone finance ministers reached a deal to extend heavily indebted Greece's financial rescue by four months. News of the agreement, which removes the immediate risk of Greece running out of money next month and possibly being forced out of the single currency area, lifted U.S. indexes to session highs, with the Dow and S&P 500 both hitting intraday peaks. The Nasdaq was set for its eighth session of gains as it approached
  
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• SEC official calls for guidelines on when cases are brought in-house

  20-02-2015 21:03
  WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission should craft guidelines that spell out when they will charge defendants in federal court or in their own in-house court, SEC...
  
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• Uncertainty around RadioShack CDS payouts

  20-02-2015 20:45
  NEW YORK, Feb 20 (IFR) - An auction for RadioShack credit
  default swaps next month is expected to be more complex than
  usual due to a scarcity of bonds that is likely to make it hard
  to value the...
  
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• Insight: Brazilian companies push for deal to minimize Petrobras scandal

  20-02-2015 20:27 via news.yahoo.com
  
  By Brian Winter SAO PAULO (Reuters) - Some of the companies caught up in a massive corruption scandal at state-run oil firm Petrobras are quietly pressing Brazil's government and judiciary to strike a "grand bargain" to minimize the legal fallout, five sources with knowledge of the talks say. The companies, which prosecutors suspect of paying out billions of dollars in bribes through service contracts they had with Petrobras, are worried the investigation is too far-reaching and c
  
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• West Coast ports talks to resume for 4th day with U.S. labor secretary

  20-02-2015 20:19 via news.yahoo.com
  
  The U.S. labor secretary headed into a fourth straight day of intensifying talks with shipping executives and union leaders for dock workers on Friday, aiming to settle a contract dispute that has led to months of disruptions at 29 West Coast ports. Bargaining was said to have bogged down earlier this week over the issue of binding arbitration. U.S. Labor Secretary Tom Perez joined the talks in San Francisco on Tuesday at the behest of President Barack Obama, who has come under growing political
  
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• Stocks turn higher following reports of Greek debt agreement

  20-02-2015 20:14 via news.yahoo.com
  
  The U.S. stock market shot higher in afternoon trading Friday following reports that Greece and its creditors were nearing an agreement on an extension on the country's loans. KEEPING SCORE: The Dow Jones ...
  
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• New Look Fashions Plans For £2bn Flotation

  20-02-2015 20:02 via news.yahoo.com
  
  The high street fashion retailer New Look has recruited bankers to work on a stock market listing that could value it at as much as £2bn. Sky News has learnt that the company this week appointed JP Morgan, the Wall Street investment bank, to work on options for a flotation. The hiring will fuel expectations that New Look's owners are actively preparing to take it public five years after it aborted an identical move amid challenging markets. JP Morgan is working alongside Goldman Sachs, whi
  
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• Bond funds worldwide attract $7.1 billion, 7th straight week of inflows: BofA

  20-02-2015 19:58
  NEW YORK (Reuters) - Investors worldwide poured $7.1 billion into bond funds in the week ended Feb. 18, with riskier high-yield bond funds attracting fresh inflows on signs global growth is...
  
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• Appeals court decision may speed new payout to Madoff victims

  20-02-2015 19:48
  NEW YORK (Reuters) - Victims of Bernard Madoff's massive fraud are not entitled to inflation or interest adjustments on their claims, a federal appeals court ruled on Friday, in a decision that could...
  
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• US appeals court decision may speed new payout to Madoff victims

  20-02-2015 19:46
  NEW YORK, Feb 20 (Reuters) - Victims of Bernard Madoff's
  massive fraud are not entitled to inflation or interest
  adjustments on their claims, a federal appeals court ruled on
  Friday, in a decision...
  
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• Defense Secretary Taps an Ad-Hoc Board of Advisors

  20-02-2015 19:46 via news.yahoo.com
  
  Carter, 60, a former deputy defense secretary, is an expert on nuclear weapons and a whiz at military budgeting. He apparently spoke by phone with Bloomberg, the multi-billionaire businessman and innovative government leader who ran New York City for three consecutive terms, and Cantor, who joined the Wall Street investment bank of Moelis & Co. as managing director after losing his seat in an upset GOP primary election last summer.
  
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• Drugmaker Valeant close to buying Salix - source

  20-02-2015 19:06
  
  NEW YORK (Reuters) - Valeant Pharmaceuticals International Inc is close to a $10.2 billion deal to acquire gastrointestinal drugmaker Salix Pharmaceuticals Ltd, according to a person directly...
  
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• Massachusetts Governor names panel to tackle tangled transit network

  20-02-2015 19:03 via news.yahoo.com
  
  Massachusetts Governor Charlie Baker on Friday named a seven-member panel to develop a plan for turning around Boston's transit system, which has struggled to maintain service after this winter's record-setting series of snowfalls. After weeks of repeated shutdowns of portions of the Massachusetts Bay Transportation Authority's rail, bus and ferry systems, Baker said the new panel would have until the end of March to develop a plan to improve the system's maintenance and operational plans. "Publ
  
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• Europe stocks close mostly higher awaiting Greek debt deal

  20-02-2015 19:00 via news.yahoo.com
  
  Europe's main stock markets finished mostly higher on Friday as eurozone ministers pressed on with "very difficult" talks to reach agreement on renegotiating Greece's bailout terms. Frankfurt's DAX 30 index closed up 0.38 percent to 11,050.64 points, and the CAC 40 in Paris remained stable down just 0.05 percent to 4,830.90. In London, the benchmark FTSE 100 rose 0.38 percent to 6,915.20 points as investors reacted to mixed economic data in non-eurozone member Britain. &
  
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• Obama to meet with Qatar's emir at White House on February 24

  20-02-2015 18:48 via news.yahoo.com
  
  WASHINGTON (Reuters) - U.S. President Barack Obama will meet with Qatar's emir on Tuesday to discuss political, economic and security issues, the White House said on Friday. The visit by Sheikh Tamim bin Hamad al Thani comes as Qatar and another U.S. ally in the Middle East, Egypt, have traded barbs in a dispute over Egyptian air strikes on Islamic State targets in Libya, with Qatar recalling its ambassador from Cairo. (Reporting by Roberta Rampton and Doina Chiacu; Editing by Susan Heavey)
  
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• UPDATE 3-Hack gave U.S. and British spies access to billions of phones - Intercept

  20-02-2015 18:36
  * U.S., UK spies hacked SIM card maker Gemalto's system -Intercept
  
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• UPDATE 1-Puerto Rico asks for quick decision in bankruptcy ruling appeal

  20-02-2015 18:33
  Feb 20 (Reuters) - Puerto Rico has asked a U.S. court for a
  quick decision in its appeal against a federal court ruling that
  voided a local bankruptcy law, arguing the decision hampers its
  efforts to...
  
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• Exclusive: Thoma Bravo seeks top-up fund amid tech LBO bonanza

  20-02-2015 18:27
  (Reuters) - Thoma Bravo LLC, the private equity firm behind some of the technology sector's largest leveraged buyouts, is seeking more money from investors for deals, less than a year after it raised...
  
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• Stocks mixed at midday as Greek debt talks remain difficult

  20-02-2015 18:26 via news.yahoo.com
  
  NEW YORK (AP) — The U.S. stock market was mixed in midday Friday trading as investors waited for a breakthrough in the difficult debt negotiations between Greece and its European creditors.
  
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• Pimco chief economist McCulley, Bill Gross loyalist, steps down

  20-02-2015 18:24
  
  (Reuters) - Pimco said on Friday Paul McCulley had stepped down as chief economist and as a managing director, a role he had assumed in May at the request of Bill Gross, who was the firm's chief...
  
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