Finance news

• Spain says third bailout for Greece seen at 30-50 bln euros

  02-03-2015 23:50 via news.yahoo.com
  
  Spanish Economy Minister Luis de Guindos on Monday said European Union officials are estimating that a hypothetical third bailout for Greece could amount to between 30 and 50 billion euros ($34-55 billion). Without confirming that talks were under way for a third bailout, the minister said Spain would contribute "around 13 percent of the amount" if another aid package were to be granted to Greece. German newspaper Rheinische Post reported on February 25, citing sources in Berlin, that
  
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• 'Ship to Cuba' option shows up on Amazon.com amid diplomatic talks

  02-03-2015 23:39 via news.yahoo.com
  
  Less than three months after U.S. and Cuban officials agreed to restore diplomatic ties, Amazon.com Inc appears to be laying the groundwork to ship packages to Cuba. A "ship to Cuba" button was seen on Monday on Amazon's website by Reuters correspondents in Havana. "Due to export controls and economic sanctions laws and regulations, we are unable to process transactions from your current location," Amazon said in the message. There was no such option available on Amazon&
  
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• Nasdaq 5,000: index passes dot-com milestone after 15 years

  02-03-2015 23:39 via news.yahoo.com
  
  NEW YORK (AP) — For the first time since its dot-com era peak nearly 15 years ago, the Nasdaq composite has closed above 5,000.
  
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• IBM shareholder sues company, alleging it overvalued chip unit

  02-03-2015 23:38
  
  NEW YORK (Reuters) - IBM Corp was sued on Monday by a shareholder that said it committed securities fraud by failing to write down a money-losing semiconductor unit before agreeing to pay another...
  
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• Wall St. rallies; Nasdaq hits highest level since 2000

  02-03-2015 23:16 via news.yahoo.com
  
  NEW YORK (Reuters) - The Nasdaq on Monday closed above 5,000 for the first time since the year 2000 dot-com bubble as tech stocks were boosted by deals, while the S&P 500 and Dow indexes hit records after economic data pointed to a slowly accelerating economy.
  
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• US STOCKS-Wall St. rallies; Nasdaq hits highest level since 2000

  02-03-2015 23:14 via news.yahoo.com
  
  The Nasdaq on Monday closed above 5,000 for the first time since the year 2000 dot-com bubble as tech stocks were boosted by deals, while the S&P 500 and Dow indexes hit records after economic data pointed ...
  
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• TSX advances as Valeant climbs, offsets weaker oil shares

  02-03-2015 22:50 via news.yahoo.com
  
  By John Tilak TORONTO (Reuters) - Canada's main stock index rose on Monday as a jump in Valeant Pharmaceuticals International Inc helped offset weakness in the energy sector after the price of Brent crude oil dropped. Brent crude slipped after Iran said a deal on its nuclear program could be done this week if the West lifts sanctions, which could boost the country's oil exports. Trading in the benchmark TSX index has been choppy in recent months because of fluctuations in the price of
  
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• umber Liquidators and Endo are big market movers

  02-03-2015 22:49 via news.yahoo.com
  
  Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Freescale Semiconductor Ltd., up $4.25 to $40.36 The chipmaker agreed to be acquired ...
  
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• Nasdaq 5,000: index passes milestone number

  02-03-2015 22:45 via news.yahoo.com
  
  NEW YORK (AP) — The Nasdaq composite closed above 5,000 for the first time since its dot-com era peak nearly 15 years ago after merger news and an encouraging economic report helped push U.S. stocks broadly higher on Monday.
  
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• E*Trade to cut debt by $340 million in restructuring

  02-03-2015 22:43
  NEW YORK (Reuters) - E*Trade Financial Corp, the discount broker and bank that almost collapsed during the financial crisis, said on Monday it will retire $800 million of debt due in 2019 and issue...
  
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• Washington says waiting for China response on tech rule concerns

  02-03-2015 22:41 via news.yahoo.com
  
  The Obama administration is waiting for China to respond to concerns raised about planned new rules pushing Chinese banks to purchase high-tech products from domestic vendors, a senior State Department official said on Monday. U.S. business groups have complained about the regulations, and senior officials, including Secretary of State John Kerry, have written to their Chinese counterparts about them. "We have put forward our position and we ... have to see now what actions they take, but t
  
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• S&P, Dow post record closes, dollar hits 11-year high

  02-03-2015 22:34 via news.yahoo.com
  
  By Richard Leong NEW YORK (Reuters) - U.S. stock prices rallied on Monday, with the Nasdaq composite crossing 5,000 for the first time in 15 years, while the dollar touched an 11-year high on expectations the Federal Reserve will raise interest rates later this year. Wall Street kicked off March on a high note after a stellar February, when the benchmark S&P 500 Index registered its best monthly gain since October 2011. The S&P and Dow Jones industrial average posted record closing highs
  
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• U.S. stocks rally; Nasdaq hits highest level since 2000

  02-03-2015 22:31 via news.yahoo.com
  
  The Nasdaq on Monday closed above 5,000 for the first time since the year 2000 dot.com bubble as tech stocks were boosted by deals, while the S&P 500 and Dow indexes hit records after economic data pointed to a slowly accelerating economy. After oscillating around it for much of the day, the Nasdaq composite index gained steam in the late afternoon to finish firmly above the milestone it last reached on March 27 2000, marking only the third time the index closed above 5,000. Real earnings an
  
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• US STOCKS-U.S. stocks rally; Nasdaq hits highest level since 2000

  02-03-2015 22:29 via news.yahoo.com
  
  The Nasdaq on Monday closed above 5,000 for the first time since the year 2000 dot.com bubble as tech stocks were boosted by deals, while the S&P 500 and Dow indexes hit records after economic data pointed ...
  
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• Dot-com deja vu: Nasdaq tops 5,000, approaching record high

  02-03-2015 22:18 via news.yahoo.com
  
  NEW YORK (AP) — The last time the Nasdaq was this high, Bill Clinton was president, your Internet was probably still dial-up, Microsoft dominated the tech world and the iPod, iPhone and iPad didn't exist.
  
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• Activist Barington pushes ahead in proxy fight at Eastern Co

  02-03-2015 22:12
  BOSTON (Reuters) - Hedge fund Barington Capital Group on Monday pressed ahead with plans to win two board seats at Eastern Co and filed a preliminary proxy statement less than four weeks after the...
  
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• Nasdaq closes above 5,000 for first time in 15 years

  02-03-2015 22:11 via news.yahoo.com
  
  NEW YORK (AP) — The Nasdaq composite index is closing above 5,000 for the first time since the dot-com bubble peaked 15 years ago.
  
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• Venezuela tells U.S. embassy in Caracas: Cut staff by 80 percent

  02-03-2015 22:09 via news.yahoo.com
  
  By Diego Ore CARACAS (Reuters) - Venezuela on Monday ordered the U.S. embassy in Caracas to reduce staff from 100 to 17 amid the worst diplomatic flare-up between the two ideological foes since socialist President Nicolas Maduro was elected in 2013. Maduro, who like his predecessor Hugo Chavez frequently locks horns with Washington, has stepped up accusations in recent weeks that the United States is seeking to topple him. The measures announced in response to alleged coup plotting are the most
  
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• Nasdaq composite closes above 5,000 for first time since peak of dot-com bubble 15 years ago

  02-03-2015 22:02 via news.yahoo.com
  
  Nasdaq composite closes above 5,000 for first time since peak of dot-com bubble 15 years ago.
  
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• London calling: A burger guy on its sizzling spots

  02-03-2015 21:49
  
  NEW YORK (Reuters) - When it comes to hot restaurants and IPOs, it's hard to get any hotter than Shake Shack. The high-end burger joint, now publicly traded, has locations from Dubai to Moscow. But...
  
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• UPDATE 2-Lumber Liquidators stock sinks on news report on safety problems

  02-03-2015 21:35
  NEW YORK, March 2 (Reuters) - Shares of Lumber Liquidators Holdings Inc were down more than 20 percent on Monday after the CBS news program "60 Minutes" said its products failed to meet safety...
  
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• Wall St. advances after data and deals; Nasdaq hits 5,000

  02-03-2015 21:30 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks advanced on Monday, with the Nasdaq moving above the 5,000 mark for the first time in 15 years, helped by technology deals and mixed data that pointed to a slowly accelerating economy.
  
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• Janus' Bill Gross warns on dangers of low interest rates

  02-03-2015 21:26
  
  NEW YORK (Reuters) - Bond investor Bill Gross on Monday criticized ultra-low interest rates, saying they could harm global growth instead of boosting it in the way that many central banks intend.
  
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• Dutch government says sorry for gas field causing quakes

  02-03-2015 21:26 via news.yahoo.com
  
  The apology follows a Feb. 18 report by the country's independent Safety Board that found that the government, together with Royal Shell and Exxon, had put profits before safety in exploiting the Groningen gas field, Europe's largest. "I am very sorry that the safety interests of Groningers did not receive the attention they deserved," Economic Affairs Minister Henk Kamp said. In February Kamp ordered production at the Groningen field to be cut by 16 percent for the first hal
  
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• Wisconsin representatives take up right-to-work bill

  02-03-2015 20:53 via news.yahoo.com
  
  By Brendan O'Brien MADISON, Wis. (Reuters) - Wisconsin lawmakers on Monday opened a final push toward adopting a measure supported by Republican Governor Scott Walker to bar private-sector workers from being required to join a union or pay dues when working under union-negotiated contracts. The measure, which would make Wisconsin the 25th state to enact a "right-to-work" law, is expected to pass the Republican-led state Assembly as soon as Thursday and then be signed into law shor
  
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• Bill Gates tops Forbes rich list, Michael Jordan joins

  02-03-2015 20:36
  
  (Reuters) - Bill Gates stands atop Forbes magazine's annual list of the world's richest people, as Facebook Inc's Mark Zuckerberg joined the top 20 and basketball star Michael Jordan plowed new air...
  
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• General Atomics revives pact with Spain's SENER on drones

  02-03-2015 20:10
  WASHINGTON (Reuters) - Privately held General Atomics on Monday said it had revived a teaming deal first signed with Spain's SENER engineering group seven years ago to promote the use of General...
  
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• UPDATE 2-Canada's Mitel to buy Mavenir to expand into mobile services

  02-03-2015 20:04
  March 2 (Reuters) - Canadian telecom services provider Mitel Networks Corp said on Monday it would buy U.S.-based Mavenir Systems Inc for $560 million in a bid to expand its telephone services to the...
  
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• Weak U.S. consumer spending points to slower first-quarter growth

  02-03-2015 20:02 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer spending fell for a second straight month in January as households continued to cut back on purchases, opting to save much of the massive windfall from cheaper gasoline.  Other data on Monday showed factory activity slowed in February and construction spending declined sharply in January, adding to signs that economic growth moderated early in the first quarter. All the gas savings are ending up at the bank rather than being spent," Th
  
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• Morgan Stanley in settlement talks with NY attorney general - source

  02-03-2015 20:01 via news.yahoo.com
  
  By Karen Freifeld and Lauren Tara LaCapra NEW YORK (Reuters) - Morgan Stanley's is in discussions with New York's attorney general to settle accusations that the Wall Street bank mishandled subprime mortgage deals before the 2008 financial crisis, a person familiar with the matter said on Monday. Any settlement would be separate from a $2.6 billion agreement Morgan Stanley reached last month with the U.S. Department of Justice and the U.S. Attorney's Office for the Northern Distri
  
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• Juncker says no talks in the euro zone for a third Greek bailout

  02-03-2015 19:57 via news.yahoo.com
  
  There are no talks about a third bailout for Greece, European Commission President Jean-Claude Juncker told Reuters in Berlin on Monday after Spain's economy minister said euro zone nations are discussing a third bailout worth 30 to 50 billion euros. "There are no talks about that," Juncker said when asked on the sidelines of a conference in Berlin about reports of a third bailout. Speaking at an event earlier on Monday in Pamplona, in northern Spain, Economy Minister Luis de Guindos had said th
  
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• Mixed messages on third Greek bailout talks

  02-03-2015 19:57 via news.yahoo.com
  
  By Sarah Morris and Lefteris Papadimas MADRID/ATHENS (Reuters) - Euro zone countries are discussing a third bailout for Greece worth 30 billion to 50 billion euros, Spain's economy minister said on Monday, but EU officials said there were no such talks. Speaking at an event in Pamplona, northern Spain, Economy Minister Luis de Guindos said the new rescue plan would set more flexible conditions for Greece, which had no alternative other than European support. Greek leftist Prime Minister Ale
  
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• Wall St. advances, with Nasdaq hitting 5,000, after data

  02-03-2015 19:35 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks advanced on Monday, with the Nasdaq nudging above the 5,000 mark for the first time in 15 years, as a round of mixed data pointed to a slowly accelerating economy.
  
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• UPDATE 1-Jeffrey Gundlach's DoubleLine posts net inflow of $1.59 bln in Feb

  02-03-2015 19:33
  NEW YORK, March 2 (Reuters) - DoubleLine Funds, an investment firm that has been a major competitor to bond fund Pimco, on Monday reported a net inflow of $1.59 billion in February, compared with a...
  
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• Hedge fund Kerrisdale says Webster should consider spinoff

  02-03-2015 19:24
  BOSTON (Reuters) - Hedge fund Kerrisdale Capital on Monday urged Webster Financial Corp to consider spinning off its health savings business from its main banking operations, a move it said could...
  
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• Fed awards $118.21 bln reverse repos Monday

  02-03-2015 19:19
  NEW YORK, March 2 (Reuters) - The Federal Reserve on Monday awarded $118.21 billion of overnight fixed-rate reverse repurchase agreements to 51 bidders at an interest rate of 0.05 percent, the...
  
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• Jeffrey Gundlach's DoubleLine posts net inflow of $1.59 billion in February

  02-03-2015 19:19
  (Reuters) - DoubleLine Funds, an investment firm that has been a major competitor to bond fund Pimco, on Monday reported a net inflow of $1.59 billion in February, compared with a record net inflow...
  
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• Greece to present specific reforms at March 9 Eurogroup-deputy PM

  02-03-2015 19:18
  ATHENS, March 2 (Reuters) - Greece will outline the details of reforms agreed with its international lenders at a meeting of euro zone finance ministers on March 9, the country's deputy prime...
  
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• Jeffrey Gundlach's DoubleLine posts net inflow of $1.59 bln in Feb

  02-03-2015 19:18
  March 2 (Reuters) - DoubleLine Funds, an investment firm that has been a major competitor to bond fund Pimco, on Monday reported a net inflow of $1.59 billion in February, compared with a record net...
  
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• GLOBAL MARKETS-U.S. stocks extend rally, dollar reaches 11-year high

  02-03-2015 19:12
  * Spanish, Italian yields fall to record lows before ECB QE (Updates market action, adds new quote)
  
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• Brazil's trade deficit wider than expected in February

  02-03-2015 19:09
  BRASILIA, March 2 (Reuters) - Brazil posted a trade deficit of $2.842 billion in February, government data showed on Monday.
  
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• Target of nation's outrage, Ukraine central bank chief plows on

  02-03-2015 19:07
  KIEV, March 2 (Reuters) - Before she was appointed to head Ukraine's central bank last June, Valeriia Gontareva was praised as one of the most successful investment bankers in the country. Since...
  
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• CVC, Blackstone launch up to $1 billion share sale in UK's Merlin

  02-03-2015 18:52
  LONDON (Reuters) - Private equity firms CVC [CVC.UL] and Blackstone [BX.N] have launched the sale of all of their remaining shares in UK company Merlin Entertainments .
  
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• Cardinal to buy J&J vascular technology unit Cordis for $1.9 billion

  02-03-2015 18:49
  NEW YORK (Reuters) - U.S. pharmaceutical and medical equipment maker Johnson & Johnson said on Monday it agreed to sell its Cordis vascular technology unit to Cardinal Health for $1.9 billion,...
  
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• HP to buy Wi-Fi gear maker Aruba Networks for $2.7 billion

  02-03-2015 18:19
  
  (Reuters) - Hewlett-Packard Co said it would buy Wi-Fi network gear maker Aruba Networks Inc for about $2.7 billion, the biggest deal for the world's No. 2 PC maker since its botched acquisition of...
  
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• UPDATE 3-HP to buy Wi-Fi gear maker Aruba Networks for $2.7 bln

  02-03-2015 18:10
  * Aruba shares fall 1.45 pct; HP marginally down (Adds analysts' comments, details)
  
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• Spain says a third Greek bailout under discussion

  02-03-2015 18:10 via news.yahoo.com
  
  MADRID/ATHENS (Reuters) - Euro zone countries are discussing a third bailout for Greece worth 30 billion to 50 billion euros, Spain's economy minister said on Monday, as Athens sought to quell fears it might run out of money before the end of March. Speaking at an event in Pamplona, in northern Spain, Economy Minister Luis de Guindos said the new rescue plan would set more flexible conditions for Greece, which had no alternative other than European support. Prime Minister Alexis Tsipras use
  
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• New Issue-Delphi Automotive prices 700 mln euro 2025 bond

  02-03-2015 18:04
  where assigned, and hit the newskey (F9 on Reuters terminals)
  
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• Euro zone not discussing third Greek bailout-Eurogroup head's spokeswoman

  02-03-2015 18:00 via news.yahoo.com
  
  Euro zone finance ministers are not discussing a third bailout for Greece, the spokeswoman for Jeroen Dijsselbloem who chairs meetings of the ministers said on Monday. The statement comes in response to remarks by Spain's Economy Minister Luis de Guindos who said earlier on Monday that euro zone countries were in talks over a third bailout package for Greece worth between 30 billion and 50 billion euros ($34-$56 billion). "Euro zone finance ministers are not discussing a third bailout," spokeswo
  
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• Cheap oil threatens debt squeeze for smaller UK North Sea producers

  02-03-2015 18:00
  LONDON, March 2 (Reuters) - Small and mid-sized independent oil producers in the British North Sea could face a financing squeeze this year as banks cut lending linked to the value of oil reserves,...
  
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