Finance news

• Stock market shrugs off net neutrality vote

  26-02-2015 23:31 via news.yahoo.com
  
  NEW YORK (AP) — The stock market largely shrugged off the Federal Communications Commission's vote to impose tougher rules on broadband providers like Comcast, Verizon and AT&T to prevent them from creating paid fast lanes for the Internet and slowing or blocking Web traffic.
  
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• Investors tell hedge funds they want lower fees: survey

  26-02-2015 23:14
  BOSTON (Reuters) - Institutional investors are sending a strong message to hedge funds after last year's largely lackluster returns: charge us less and perform better.
  
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• UPDATE 1-Autodesk revenue beats estimates as subscriptions jump

  26-02-2015 23:11
  Feb 26 (Reuters) - Autodesk Inc reported a better-than-expected quarterly revenue as the company's switch to a subscription-based model for its computer-aided design software paid off.
  
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• German MPs set to unblock Greek aid in parliament vote

  26-02-2015 22:57 via news.yahoo.com
  
  Despite scepticism, German lawmakers were expected Friday to approve Greece's hard-won bailout extension in a parliament vote, removing the last hurdle for keeping crucial international aid flowing to Athens. Berlin's unwaveringly hard line on the need for debt-wracked Greece to stick to economic reforms in return for aid is shared in other capitals from Helsinki to previous bailout recipients Madrid and Lisbon.
  
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• Global equities fall as oil sinks; dollar rallies

  26-02-2015 22:41 via news.yahoo.com
  
  NEW YORK (Reuters) - Global equities dipped on Thursday as investor enthusiasm was dampened by a pullback in oil prices related to rising inventories, while the dollar rose as economic data drove expectations that the Federal Reserve will raise interest rates.
  
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• Nasdaq resumes climb; S&P 500, Dow fall with energy

  26-02-2015 22:36 via news.yahoo.com
  
  The Nasdaq resumed its recent advance on Thursday after deal news in the technology sector, while the Dow and S&P 500 dipped as energy shares sank with oil prices. The day's move put the Nasdaq within just 12 points of the 5,000 mark, which it last hit in March 2000 along with its all-time high of 5,132.52 at the height of the dot-com frenzy. The Dow broke a two-day streak of record closing highs. Among the top boosts for the Nasdaq and S&P 500 were shares of Avago Technologies (AVG
  
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• SeaWorld and Sears are big market movers

  26-02-2015 22:24 via news.yahoo.com
  
  Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE SeaWorld Entertainment Inc., down $1.18 to $19.17 The theme park operator reported ...
  
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• Gap expects lower full-year profit due to strong dollar, West Coast delays

  26-02-2015 22:18
  Feb 26 (Reuters) - Apparel retailer Gap Inc forecast a drop in profit for its year ending January 2016, citing a strong dollar and merchandise delays due to labor issues at U.S. West Coast...
  
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• U.S. SEC targets asset manager conflicts of interest: investigator

  26-02-2015 22:16
  
  WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission is unearthing numerous examples of hidden conflicts of interest at asset management firms, and plans to file a series of cases to...
  
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• Russia's Khodorkovsky: Putin is a 'naked king' facing economic ruin

  26-02-2015 22:15 via news.yahoo.com
  
  By Dmitry Zhdannikov LONDON (Reuters) - Former Russian tycoon Mikhail Khodorkovsky said on Thursday Vladimir Putin was a "naked king" presiding over an economy that will weaken further, eventually provoking a battle between rival clans in Moscow. "Putin with bare chest isn't a mighty leader: He is a naked king," Khodorkovsky, once Russia's richest man who was arrested in 2003 after falling foul of Putin only to be released in 2013, told an audience in London. Khodor
  
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• TD Bank CEO say very happy with stake in TD Ameritrade

  26-02-2015 22:05
  
  TORONTO (Reuters) - Toronto-Dominion Bank is very happy with its stake in discount brokerage TD Ameritrade Holding Corp and views it as a key investment, the Canadian lender's chief executive said on...
  
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• S&P 500, Dow end down while Nasdaq rises

  26-02-2015 22:04 via news.yahoo.com
  
  The S&P 500 and Dow dipped on Thursday as energy shares tumbled with oil prices, while the Nasdaq resumed its recent advance after deal news in the technology sector. The Dow Jones industrial average fell ...
  
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• US stock indexes drift mostly lower as oil prices sink

  26-02-2015 21:17 via news.yahoo.com
  
  A deepening slide in crude oil prices weighed on energy stocks, tipping U.S. financial markets mostly lower in afternoon trading Thursday. Chevron and Exxon Mobil were among the biggest decliners in the Dow Jones industrial average, which eased back from its latest all-time high. Investors also were weighing mixed corporate earnings and U.S. economic data.
  
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• S&P 500, Dow fall as energy sinks; Nasdaq up after deal news

  26-02-2015 21:00 via news.yahoo.com
  
  The Dow and S&P 500 slipped in afternoon trading on Thursday as energy shares tumbled with oil prices, while the Nasdaq advanced after deal news in the technology sector. Energy shares led declines in the S&P 500 and Dow, with the S&P 500 energy index (.SPNY) dropping 2.3 percent as U.S. crude oil futures fell 5.5 percent to settle at $48.17, pressured by rising inventories in the United States. Apple shares also edged higher and were last up 0.6 percent at $129.50. Apple sent out in
  
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• Russia's Khodorkovsky: Putin is a 'naked king' facing economic ruin and discord

  26-02-2015 20:32 via news.yahoo.com
  
  By Dmitry Zhdannikov LONDON (Reuters) - Former Russian tycoon Mikhail Khodorkovsky warned Vladimir Putin on Thursday that the Kremlin chief was a "naked king" presiding over an economy that will weaken further, eventually provoking a battle between rival clans in Moscow. "Putin with bare chest isn't a mighty leader: He is a naked king," Khodorkovsky, once Russia's richest man who was arrested in 2003 after falling foul of Putin only to be released in 2013, told an a
  
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• US stock indexes drift lower as oil prices sink again

  26-02-2015 20:19 via news.yahoo.com
  
  A deepening slide in crude oil prices weighed on energy stocks, tipping U.S. financial markets mostly lower in afternoon trading Thursday. Chevron and Exxon Mobil were among the biggest decliners in the Dow Jones industrial average, which eased back from its latest all-time high. Investors also were weighing mixed corporate earnings and U.S. economic data.
  
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• Online lender Prosper to partner community banks to boost offerings

  26-02-2015 20:17
  (Reuters) - Peer-to-peer lender Prosper Marketplace Inc said it has partnered with Western Independent Bankers (WIB), a consortium of small community banks, to boost loan offerings through its online...
  
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• Global equities fall as decline in oil drags on energy shares

  26-02-2015 19:56 via news.yahoo.com
  
  Global equities declined slightly on Thursday as a pullback in oil prices due to rising inventories dampened investor enthusiasm while the dollar rose as data revived confidence in the U.S. economy. U.S. consumer prices in January posted their biggest drop since 2008 as gasoline prices continued to tumble, but underlying inflation rose modestly. The dollar rose to a one-month high against a basket of currencies after the rise in core inflation and data showing a rise in U.S. durable goods orders
  
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• Saudi ambassador moves to Aden from Houthi-controlled capital: Hadi aide

  26-02-2015 19:48 via news.yahoo.com
  
  Saudi Arabia's ambassador to Yemen is moving to the southern city of Aden, an aide to President Abd-Rabbu Mansour Hadi said on Thursday, in an apparent snub to the Shi'ite Houthi faction that has taken control of the capital Sanaa. The Saudi Foreign Ministry could not immediately be reached for comment. Saudi Arabia joined Western states this month in evacuating its embassy in Sanaa following a power grab by the Iranian-backed northern Houthis, viewed with suspicion by the Gulf's
  
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• Offshore driller Ensco to shut down rig, slashes dividend

  26-02-2015 19:44
  Feb 26 (Reuters) - Offshore driller Ensco Plc said it would shut down an ultra-deepwater rig as demand dwindles due to a slump in crude prices, a day after it slashed its quarterly dividend by 80...
  
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• Analyze costs vs. benefits before adding an IoT app to a server

  26-02-2015 19:41 via news.yahoo.com
  
  Before installing an IoT app on one of your servers, conduct an economic feasibility study to see whether the benefits outweigh the costs. This is what to include in your study.
  
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• Apple faces second suit from victorious patent firm

  26-02-2015 19:36
  Feb 26 (Reuters) - Fresh off a $532.9 million jury win against Apple Inc, a Texas company is again suing the tech giant, this time over the same patents' use in devices introduced after the original...
  
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• Petrobras vows belt-tightening, transparency after downgrade

  26-02-2015 19:20 via news.yahoo.com
  
  Brazil's Petrobras promised belt-tightening and house-cleaning Thursday after Moody's rating agency this week downgraded the scandal-plagued oil giant for a fourth time in as many months. Petrobras said that it also would release, "as soon as possible, transparent and reliable" verified 2014 earning results to restore investor confidence after repeated delays. Petrobras, the largest company in the world's seventh-largest economy, once was considered one of Brazil's
  
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• S&P 500, Dow dip with energy; Nasdaq up after deal news

  26-02-2015 18:57 via news.yahoo.com
  
  The Dow and S&P 500 edged lower at midday on Thursday as energy shares eased back with oil prices, while the Nasdaq advanced after deal news in the technology sector. Avago Technologies (AVGO.O) jumped 13 percent to $127.39 as the best performer on both the S&P 500 and Nasdaq 100 (.NDX) index after the company reached a deal to acquire Emulex (ELX.N) for $8 per share. Apple shares also edged higher and were last up 0.8 percent at $129.77. Apple sent out an invite for a March 9 event, abo
  
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• INTERVIEW-Kloeckner & Co sees U.S. as its most attractive market

  26-02-2015 18:56
  * Shares close down 5.5 pct (Adds comments on dividend, inventories, demand, company forecasts, shares)
  
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• UPDATE 1-Dunkin' Brands' K-Cup packs to be sold online and at retail stores

  26-02-2015 18:53
  Feb 26 (Reuters) - Dunkin' Brands Group Inc said on Thursday that its Dunkin' K-Cups will be available online and across retail stores in North America, a move that expands the doughnut chain's brand...
  
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• Reducing consumer food waste could save $300 billion yearly by 2030

  26-02-2015 18:36 via news.yahoo.com
  
  By Chris Arsenault ROME (Thomson Reuters Foundation) - Reducing consumer food waste could save the global economy up to $300 billion annually by 2030 as one third of all food produced worldwide ends up being discarded, a research group said on Thursday. Globally, the food wasted by consumers is worth $400 billion a year, and this could jump to $600 billion in the next decade, as the profligate middle class expands in developing countries, the group said. Cutting the amount of food consumers disc
  
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• Top U.S. forecaster says jobs data adding up to a rate rise: Reuters poll

  26-02-2015 18:34 via news.yahoo.com
  
  Jim O'Sullivan, chief U.S. economist at High Frequency Economics, isn't yet completely convinced that Janet Yellen's Fed will begin raising rates in June. "The idea that the economy is so fragile that it can't take a rate hike? He doesn't believe that the U.S. being a lone engine of growth, while many parts of the world economy remain at risk to a renewed downturn, will prevent the Fed from focusing on its mandate of full employment and low inflation.
  
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• UPDATE 2-3D Systems expects recent acquisitions to boost 2015 profit

  26-02-2015 18:31
  Feb 26 (Reuters) - 3D printer maker 3D Systems Corp said it expected higher profits in 2015 as the company planned to "moderate its M&A activities" and focus on leveraging recently-acquired assets.
  
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• Fashion house Cavalli confident it can close stake sale

  26-02-2015 18:11
  
  MILAN (Reuters) - Italian fashion house Roberto Cavalli said on Thursday it was confident talks with private equity firm Clessidra for the sale of a majority stake would be concluded as scheduled.
  
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• UK's FTSE climbs to record closing high as Standard Chartered surges

  26-02-2015 18:09
  LONDON, Feb 26 (Reuters) - Britain's top equity index hit a record closing high on Thursday, helped by a surge in the share price of the Asian-focused bank Standard Chartered.
  
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• Top Canada economy forecaster: Lower oil to hurt till mid-year: Reuters poll

  26-02-2015 18:05 via news.yahoo.com
  
  (Reuters) - Canada's resource-dependent economy will reel from the sting of a slump in oil prices until mid-2015 at least, when exporters may start to benefit from stronger U.S. growth and a weaker Canadian dollar, according to the top forecaster for the Canadian economy in Reuters polls in 2014. Although oil prices have begun to rebound, there is still more damage in store, according to JPMorgan's Canada economist Silvana Dimino, who topped the Reuters economic poll accuracy league for 2014, co
  
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• Barnes & Noble to keep Nook business, spin off college books unit

  26-02-2015 17:50
  
  (Reuters) - Barnes & Noble Inc said it would spin off its college books unit and keep its Nook tablets and e-book business, instead of spinning off a combination of the two.
  
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• Global equities fall; energy shares decline as oil tumbles

  26-02-2015 17:38 via news.yahoo.com
  
  Global equities declined on Thursday after a mixed bag of U.S. economic indicators and a pullback in oil prices dampened investor enthusiasm. U.S. consumer prices in January posted their biggest drop since 2008 as gasoline prices continued to tumble, while underlying inflation rose modestly. U.S. Treasuries prices edged lower on Thursday, as debt investors saw the rise in core CPI failing to bolster the case for dovish Federal Reserve policy and as incoming supply weighed on prices. Fed Chair Ja
  
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• Hollywood payroll company Cast & Crew up for sale: sources

  26-02-2015 17:37
  (Reuters) - Cast & Crew Entertainment Services LLC, a private equity-owned company that helps make sure that everyone in Hollywood movie and television crews, from actors to cameramen, gets paid, is...
  
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• US stock indexes drift as traders gauge economic data

  26-02-2015 17:30 via news.yahoo.com
  
  U.S. financial markets drifted in morning trading Thursday, with energy stocks among the biggest decliners as crude oil prices fell. Investors were weighing new economic data on unemployment benefit claims, consumer prices and orders for long-lasting manufactured goods.
  
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• The silent struggle of seniors with debt

  26-02-2015 17:15
  NEW YORK (Reuters) - When Wanda Simpson reached retirement a couple of years ago, the Cleveland mom had an unwelcome companion: Around $25,000 in debt.
  
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• Wall St. holds near unchanged mark after data flurry

  26-02-2015 17:07 via news.yahoo.com
  
  U.S. stocks held near the unchanged mark on Thursday in the wake of a mixed bag of economic data, with the Dow and S&P 500 holding just off record highs while the Nasdaq advanced modestly. The inflation data could provide a cautious Federal Reserve with leeway to keep interest rates low for a bit longer. The Dow Jones industrial average fell 15 points, or 0.08 percent, to 18,209.57, the S&P 500 lost 3.29 points, or 0.16 percent, to 2,110.57 and the Nasdaq Composite added 7.14 points, or
  
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• South Africa's rand reverses gains, tracks weaker euro

  26-02-2015 16:59 via news.yahoo.com
  
  South Africa's rand weakened against the dollar in line with the euro on Thursday, relinquishing earlier gains which had been triggered by the government's plan to narrow the budget deficit. The budget however highlighted the challenge the government faces in narrowing the deficit, curtailing interest expenditure and containing debt, without denting already sub par economic growth, ratings agency Fitch said.
  
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• GM to shut plant, cut jobs in Indonesia, where Japanese dominate

  26-02-2015 16:50 via news.yahoo.com
  
  By Norihiko Shirouzu BEIJING (Reuters) - General Motors will stop making GM-branded cars in Indonesia, a battleground for global automakers, closing an assembly plant, axing some 500 jobs and shifting its focus to sport utility vehicles (SUVs). The U.S. auto giant, which was the first to set up a car assembly plant in Southeast Asia's biggest economy eight decades ago, is effectively calling time on its attempt to wrestle market share from dominant Japanese rivals, led by Toyota Motor . GM
  
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• Bank of Canada to hold fire on interest rates next week: Reuters poll

  26-02-2015 16:37 via news.yahoo.com
  
  By Leah Schnurr and Anu Bararia OTTAWA/BENGALURU (Reuters) - The Bank of Canada will likely hold interest rates steady next week as it waits to see how last month's surprise cut is absorbed by the economy, though analysts expect the central bank to lower rates once more by mid-year, a Reuters poll found. Comments from Governor Stephen Poloz earlier this week proved crucial to cementing analysts' forecasts. The median forecast of 42 analysts found the bank will keep rates at 0.75 percen
  
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• IMF says agrees 3-year deal with Ghana worth around $930 million

  26-02-2015 16:31 via news.yahoo.com
  
  ACCRA (Reuters) - The International Monetary Fund agreed a three-year concessional facility with Ghana worth around $930 million and is confident the deal can restore its fiscal stability, Africa Department division chief Joel Toujas-Bernate said on Thursday. Ghana's economy grew at around 8 percent for years on its exports of gold, cocoa and oil but the country faces serious macro-economic problems and the Fund forecast growth under the deal at 3.5 percent in 2015, rising to 5.0-6.0 percen
  
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• Average US rate on 30-year mortgage rises to 3.80 percent

  26-02-2015 16:29 via news.yahoo.com
  
  WASHINGTON (AP) — Average long-term U.S. mortgage rates have edged up for a third straight week while remaining near their historically low levels reached in May 2013.
  
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• Marchionne raises Fiat Chrysler stake as Ferrari spin-off nears

  26-02-2015 16:05
  
  MILAN (Reuters) - Fiat Chrysler Automobiles (FCA) Chief Executive Sergio Marchionne has increased his voting stake in the carmaker to nearly 1 percent after benefiting from a stock grant plan, just...
  
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• Lower gasoline prices dampen U.S. consumer inflation

  26-02-2015 15:56 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer prices in January posted their biggest drop since 2008 as gasoline prices continued to tumble and underlying inflation rose modestly, which could allow a cautious Federal Reserve more room to hold off on raising interest rates. Other data on Thursday showed a rebound in business investment spending plans, but probably not enough to change expectations of moderate economic growth in the first quarter. "It will be some time before the Fed
  
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• European stocks mostly higher

  26-02-2015 15:50 via news.yahoo.com
  
  European stock markets mostly rose Thursday, with the British banking sector in focus after RBS posted fresh huge losses and Standard Chartered unveiled a boardroom shake-up. Frankfurt's DAX 30 index gained 0.39 percent to stand at 11,253.45 points in late afternoon deals, boosted by more positive German economic data. London's benchmark FTSE 100 index dipped 0.19 percent to 6,921.90 points, as British economic growth for the fourth-quarter of 2014 was confirmed at 0.5 percent. The FTS
  
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• Wall St. little changed after burst of data

  26-02-2015 15:50 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks were little changed on Thursday in the wake of a mixed bag of economic data, with the Dow and S&P 500 holding just below record highs.
  
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• Stocks open mostly lower, pulling Dow below latest record

  26-02-2015 15:41 via news.yahoo.com
  
  The stock market is opening mostly lower after a ho-hum batch of reports on the U.S. economy.
  
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• Wall Street opens little changed after mixed data

  26-02-2015 15:40 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks opened little changed on Thursday in the wake of a mixed bag of economic data, after the Dow edged up to a new record a day earlier and the Nasdaq snapped a 10-session winning streak. The Dow Jones industrial average fell 16.09 points, or 0.09 percent, to 18,208.48, the S&P 500 lost 0.78 points, or 0.04 percent, to 2,113.08 and the Nasdaq Composite added 2.12 points, or 0.04 percent, to 4,969.26. (Reporting by Ryan Vlastelica; Editing by Bernadette Baum)
  
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• Wall Street set for flat open after data

  26-02-2015 15:12 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks were poised for a flat open on Thursday in the wake of a mixed bag of economic data, after the Dow edged up to a new record a day earlier and the Nasdaq snapped a 10-session winning streak. The data could provide ammunition to a cautious Federal Reserve to keep interest rates low a bit longer. "It all kind of neutralized itself," said Randy Frederick, managing director of trading and derivatives for Charles Schwab in Austin, Texas.
  
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