Finance news

• U.S. investor sues OAS, Brazil builder tied to Petrobras scandal

  05-03-2015 23:54
  SAO PAULO, March 5 (Reuters) - U.S. investment firm Huxley Capital Corp filed a lawsuit on Thursday in a New York court against Brazilian construction group OAS SA, alleging the debt-ladden company...
  
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• UPDATE 1-U.S.-based stock funds attract $8.4 bln in latest week - Lipper

  05-03-2015 23:42
  (Adds quotes from head of Lipper Americas Research; byline) By Sam Forgione NEW YORK, March 5 (Reuters) - Investors in U.S.-based funds poured $8.4 billion into stock funds in the week ended March 4,...
  
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• Busy day for LatAm primary markets

  05-03-2015 23:41
  NEW YORK, March 5 (IFR) - Latin American credit markets saw mixed flows on Thursday as investors turned their attention to some rare dollar supply from Costa Rica and Kimberly-Clark de Mexico.
  
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• UPDATE 3-U.S. banks pass Fed capital test, trading books hurt

  05-03-2015 23:36
  WASHINGTON/NEW YORK, March 5 (Reuters) - All 31 U.S. banks passed a test of how they would do in a next economic crisis, the Federal Reserve said on Thursday, but those with large trading books came...
  
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• Rothschild looks to organize Ukraine bondholders ahead of talks

  05-03-2015 23:06
  NEW YORK/LONDON, March 5 (Reuters) - Boutique investment firm Rothschild has invited investors to organize into a Ukraine creditor group ahead of a sovereign debt restructuring, sources directly...
  
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• Lipper fund flows: IG US$1.638bn inflow; HY US$309m inflow

  05-03-2015 23:04
  NEW YORK, March 5 (IFR) - For the week ended March 4, Lipper US Fund Flows reported an inflow of US$1.638bn into corporate investment grade funds (YTD total of US$21.120bn inflow) and an inflow of...
  
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• U.S. banks pass Fed capital test, trading books hurt

  05-03-2015 23:02 via news.yahoo.com
  
  WASHINGTON/NEW YORK (Reuters) - All 31 U.S. banks passed a test of how they would do in a next economic crisis, the Federal Reserve said on Thursday, but those with large trading books came out weak because of new elements in the check-up. The Fed had assumed a surge in corporate defaults in the toughest hypothetical scenario to test banks' resilience, which it said hit banks with large capital market activities.
  
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• U.S.-based stock funds attract $8.4 bln in latest week - Lipper

  05-03-2015 22:59
  NEW YORK, March 5 (Reuters) - Investors in U.S.-based funds poured $8.4 billion into stock funds in the week ended March 4, marking their biggest inflows since late December, data from Lipper, a unit...
  
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• CANADA FX DEBT-C$ retreats as U.S. dollar rallies on ECB

  05-03-2015 22:51
  (Updates with comments, details, closing figures) * Canadian dollar at C$1.2506, or 79.96 U.S. cents * Bond prices mostly lower across the maturity curve By Solarina Ho TORONTO, March 5 (Reuters) -...
  
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• U.S. Vice President Biden, Ukraine's Yatseniuk discuss crisis: White House

  05-03-2015 22:45 via news.yahoo.com
  
  WASHINGTON (Reuters) - U.S. Vice President Joe Biden spoke with Ukrainian Prime Minister Arseny Yatseniuk on Thursday to discuss the ongoing crisis in Eastern Ukraine and the recent passage of economic reforms, the White House said. Biden and Yatseniuk talked about concerns that Russian-backed separatists continue to attack Ukrainian forces, refuse to allow international monitors into territory they control, and have not allowed rescue workers to help at a coal mine explosion, the White House sa
  
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• TSX ekes out gain as ECB rally fades; energy earnings help

  05-03-2015 22:40 via news.yahoo.com
  
  By Alastair Sharp TORONTO (Reuters) - Canada's main stock index rose in a broad but shallow rally on Thursday, led by a 5 percent jump in shares of Canadian Natural Resources Ltd after the major oil and gas producer surprised investors with strong quarterly results. "Investors are starting to pick through the rubble and the relative valuations in the (energy) sector look a bit better," said Youssef Zohny, portfolio manager at StennerZohny Investment Partners of Richardson GMP Ltd. "Earnings defi
  
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• AbbVie and Costco are big market movers

  05-03-2015 22:35 via news.yahoo.com
  
  Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE AbbVie Inc., down $3.41 to $56.86 The drug developer will boost its portfolio ...
  
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• US stocks edge higher; Pharmacyclics jumps on AbbVie bid

  05-03-2015 22:35 via news.yahoo.com
  
  NEW YORK (AP) — The stock market closed slightly higher on Thursday as gains for utilities and financial stocks were largely offset by losses in energy and materials companies.
  
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• U.S. banks all pass capital hurdle in Fed stress test

  05-03-2015 22:32
  WASHINGTON (Reuters) - All 31 U.S. banks passed a 5 percent minimum hurdle for top-tier capital in an annual health check by the Federal Reserve, the central bank said on Thursday, as the industry...
  
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• Wall Street closes up slightly ahead of jobs report

  05-03-2015 22:29 via news.yahoo.com
  
  U.S. stocks closed modestly higher in light trading on Thursday as investors held back on big bets ahead of Friday's jobs report, which is expected to be a big factor in influencing the timing of a Federal Reserve interest rate hike. The S&P and the Dow had hit records and the Nasdaq surpassed 5,000 at the start of the week after a strong February performance for U.S. stocks, giving additional reason for investors to take a breather on Thursday. European news was some help to U.S. marke
  
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• UPDATE 3-Renewal of U.S. government home refinance program unlikely -Watt

  05-03-2015 22:27
  WASHINGTON, March 5 (Reuters) - A top U.S. housing official on Thursday said it was "highly unlikely" that a popular government home refinance program designed to help underwater borrowers would be...
  
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• TREASURIES-Bond prices mostly flat ahead of U.S. jobs report

  05-03-2015 22:20
  * Short-covering supports some Treasuries prices (Recasts with updated prices and comments)
  
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• Euro sinks to 11-1/2-year low, bonds gain after ECB

  05-03-2015 22:12 via news.yahoo.com
  
  By Richard Leong NEW YORK (Reuters) - The euro fell to an 11-1/2-year low against the dollar on Thursday as U.S. and euro zone bond prices rose, after the European Central Bank spelled out its 1 trillion-euro stimulus plan that begins next Monday. European stock prices rose to seven-year highs in advance of the ECB's latest effort to jump-start the struggling euro zone economy, while U.S. equities edged higher as investors awaited direction from the government's monthly labor report du
  
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• Wall St ends up slightly after two days of declines

  05-03-2015 22:09 via news.yahoo.com
  
  U.S. stocks closed modestly higher on Thursday after two days of declines, with investors holding back on big bets ahead of Friday's key jobs report. Based on the latest available data, the Dow Jones industrial ...
  
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• GLOBAL MAKETS-Euro sinks to 11-1/2-year low, bonds gain after ECB

  05-03-2015 22:09
  * Brent oil ends weaker amid lack of Iran nuclear deal (Updates to Wall Street close)
  
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• Peugeot's blue-chip index comeback spurs recovery

  05-03-2015 21:53 via news.yahoo.com
  
  (Adds company reaction, closing share prices) By Laurence Frost PARIS, March 5 (Reuters) - PSA Peugeot Citroen will return to France's benchmark CAC-40 index, stock market operator Euronext said on Thursday, delivering a likely boost to the French carmaker as it emerges from a prolonged European sales slump and bailout. Peugeot will replace Gemalto, which had already been identified as a possible exit candidate before reports last month that millions of its mobile phone SIM cards had been hacked
  
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• Field of dreams: Championship coaches tell of small-town starts

  05-03-2015 21:51
  
  NEW YORK (Reuters) - It doesn't matter if you are Michael Jordan, Peyton Manning or any other of the all-time sports greats: Even the most talented people on the planet need a coach.
  
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• U.S. Fed says will not hold market operations on April 3

  05-03-2015 21:44
  NEW YORK, March 5 (Reuters) - The U.S. Federal Reserve will not conduct open market operations on the Good Friday holiday which falls on April 3 this year, the New York Federal Reserve said on its...
  
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• Canada gold assets regaining lost luster, helped by soft C$

  05-03-2015 21:40
  TORONTO, March 5 (Reuters) - Canadian gold projects once shunned by miners in favor of more alluring opportunities overseas are regaining their sheen, as a weaker currency, new tax breaks and greater...
  
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• Wall Street up slightly ahead of jobs report

  05-03-2015 21:18 via news.yahoo.com
  
  U.S. stocks were modestly higher on Thursday after two days of declines as investors held back on big bets ahead of Friday's jobs report, which is expected to be a big factor in influencing the timing of a Federal Reserve interest rate hike. The S&P and the Dow hit records and the Nasdaq surpassed 5,000 at the start of the week after a strong February performance for U.S. stocks. "People are taking a wait-and-see approach ahead of the jobs report," said Paul Brigandi, managing
  
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• Kazakhstan suspends Russian fuel imports to avert surplus

  05-03-2015 21:07 via news.yahoo.com
  
  Energy-rich Kazakhstan on Thursday suspended Russian fuel and gas imports to protect its domestic market from a surplus due to a weakened ruble which has sent ripples of economic uncertainty through Central Asia. Sliding oil prices and western sanctions over its backing of rebels in eastern Ukraine caused Russia's currency to plunge to roughly half its value against the dollar in 2014, and the economic turmoil has had a knock-on effect in former Soviet nations whose economies are still tigh
  
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• New York's LaGuardia Airport reopens after Delta plane skid mishap

  05-03-2015 21:05
  March 5 (Reuters) - New York's LaGuardia Airport reopened on Thursday afternoon, after a Delta Air Lines aircraft skidded off a runaway during a snowstorm, forcing the closure of the facility for...
  
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• The new 'Horsemen of the Nasdaq' - how long will they ride?

  05-03-2015 20:52 via news.yahoo.com
  
  Apple , Google , Facebook and Amazon hold dominant positions in the tech sector and have been among the biggest engines driving the Nasdaq above the 5,000 mark this week for the first time since 2000. The tech world moves so quickly that in 2000 Google wasn't yet public and Facebook didn't exist. Apple had yet to introduce the iPod, let alone the iPhone. "In other sectors there's a greater sense of permanence in the leadership, but tech is always changing," said Scott Ke
  
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• CBRE seeks to buy Johnson Controls' workplace solutions: sources

  05-03-2015 20:36
  (Reuters) - CBRE Group Inc , the world's largest commercial real estate services firm, is in talks to acquire Johnson Controls Inc's global workplace solutions business for more than $1 billion,...
  
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• AbbVie boosts cancer drug pipeline with $21 billion Pharmacyclics deal

  05-03-2015 20:15
  
  (Reuters) - AbbVie Inc is to buy Pharmacyclics Inc for about $21 billion, giving it access to what is expected to be one of the world's top-selling cancer drugs and expanding its reach in the...
  
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• Biotech buys get pharma M&A off to flying start in 2015

  05-03-2015 19:58
  LONDON (Reuters) - AbbVie's $21 billion deal to buy Pharmacyclics shows big pharma's hunger for new drugs at a time when research at smaller biotechnology companies is driving some of the most...
  
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• Handmade goods website operator Etsy files for IPO

  05-03-2015 19:58
  (Reuters) - Etsy Inc, which operates a website that sells handmade goods and craft supplies, filed with U.S. regulators on Wednesday for an initial public offering of common stock.
  
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• Audit confirms BES breached Bank of Portugal's orders on exposure

  05-03-2015 19:31
  LISBON, March 5 (Reuters) - Banco Espirito Santo (BES)
  breached the Bank of Portugal's orders by increasing exposure to
  its founding family's collapsing businesses in the months before
  the state...
  
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• Euro sags to 11-1/2-year low, bonds rise after ECB

  05-03-2015 19:14 via news.yahoo.com
  
  By Richard Leong NEW YORK (Reuters) - The euro fell to an 11-1/2-year low against the dollar on Thursday as U.S. and euro zone bond prices rose, after the European Central Bank spelled out its 1 trillion-euro stimulus plan that begins next Monday. European stock prices were supported by the ECB's latest effort to jump-start the struggling euro zone economy, while U.S. equities were little changed as investors awaited direction from the government's monthly labor report due out on Frida
  
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• BofA's $8.5 billion mortgage bond settlement wins approval

  05-03-2015 19:11
  
  NEW YORK (Reuters) - A New York state appeals court on Thursday approved Bank of America Corp's $8.5 billion settlement with mortgage securities investors in its entirety.
  
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• Egypt to offer projects worth $35 billion during conference

  05-03-2015 19:09 via news.yahoo.com
  
  CAIRO (AP) — Egypt's investment minister says his government hopes to attract up to $35 billion from about 50 projects offered to investors during a much-hailed international economic conference later this month.
  
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• Allied Irish Banks posts first annual profit since 2008

  05-03-2015 19:08 via news.yahoo.com
  
  Ireland's state-rescued Allied Irish Banks posted its first annual profit since 2008 on Thursday as income jumped and an improving Irish economy allowed for the reversal of write-downs. "Over a three year period we have delivered a circa 4.8 billion euros turnaround in the group's profit before tax," outgoing chief executive David Duffy said. Operating income was up 31 percent to 2.53 billion euros from 1.924 billion euros the year before. An improving Irish economy and risin
  
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• Wall St little changed after 2-day drop, data

  05-03-2015 19:07 via news.yahoo.com
  
  U.S. stocks were little changed on Thursday, after two days of declines on the S&P 500, as economic data did little to alter expectations on the timing of an interest rate hike by the Federal Reserve. Investors were looking ahead to the jobs report due out on Friday to help them assess the timing of the Fed's first interest rate hike in years, said Brian Battle, director of trading at Performance Trust Capital Partners, in Chicago. "The Federal Reserve made it very clear they'
  
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• Mallinckrodt buys respiratory drug maker to boost hospital presence

  05-03-2015 18:56
  (Reuters) - Dublin-based drugmaker Mallinckrodt Plc strengthened its presence in U.S. hospitals as it agreed to buy privately held Ikaria Inc, a maker of a respiratory drug and its delivery system,...
  
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• UPDATE 2-Mallinckrodt buys respiratory drug maker to boost hospital presence

  05-03-2015 18:54
  * Ikeria owns only approved hypoxic respiratory failure treatment
  
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• Japan's FamilyMart, UNY mull convenience store merger: source

  05-03-2015 18:43
  
  TOKYO (Reuters) - FamilyMart Co and the operator of Circle K Sunkus stores are considering a merger that would create Japan's second-biggest convenience store chain, rivaling Seven-Eleven Japan Co,...
  
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• Global Markets - Euro hits 11 1/2-year low, bonds rise after ECB

  05-03-2015 18:18 via news.yahoo.com
  
  By Richard Leong NEW YORK (Reuters) - The euro fell to an 11 1/2-year low against the dollar as U.S. and euro zone bond prices rose on Thursday, after the European Central Bank spelled out its 1 trillion-euro stimulus plan that begins next Monday. Wall Street and European stock prices were supported by the ECB's latest effort to jumpstart the struggling euro zone economy, which has been a drag on global growth. ECB President Mario Draghi outlined the central bank's quantitative easing
  
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• Wall Street little changed after 2-day drop, data

  05-03-2015 18:10 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks were little changed on Thursday, in the wake of two days of declines on the S&P 500, as economic data did little to alter expectations on the timing of an interest rate hike by the Federal Reserve. Initial jobless claims rose to 320,000 in the latest week, above the 295,000 estimate and 313,000 in the prior week.
  
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• Upbeat ECB ready to start printing money next week

  05-03-2015 18:10 via news.yahoo.com
  
  NICOSIA/FRANKFURT (Reuters) - The European Central Bank said it will start printing money to buy bonds next Monday and delivered a robust economic outlook that will make it hard to extend the plan beyond its envisaged Sept. 2016 end-date. The ECB is embarking on the program of quantitative easing (QE) with a view to raising euro zone inflation from below zero back toward its goal of just under 2 percent, and to helping buoy economies across the 19-country bloc. The ECB, which left interest rates
  
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• Europe firms may draw fire by joining buyback boom

  05-03-2015 18:05 via news.yahoo.com
  
  By Lionel Laurent LONDON (Reuters) - European companies are likely to join a boom in share buybacks as central bank cash floods the economy, risking criticism that they are recycling capital rather than investing to promote growth. European firms are already cheering financial markets by increasingly following their U.S. counterparts in returning cash to investors, propping up their share prices while the euro zone economy remains sluggish. In the United States, years of Federal Reserve stimulus
  
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• Aviva ensures FTSE 100's move back toward record highs

  05-03-2015 18:01
  LONDON, March 5 (Reuters) - Britain's top share index approached record highs again on Thursday, lifted by a rally in insurance stocks such as Aviva after positive results in the sector.
  
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• Soft U.S. data hints at near-term hiccup in economic growth

  05-03-2015 18:00 via news.yahoo.com
  
  The number of Americans filing new claims for unemployment aid last week rose to its highest level since May, but economists dismissed the increase as weather-related and said the jobs market remained solid. The reports, however, suggested some near-term weakness in economic growth. "The underlying fundamentals of the economy remain solid and there is no reason we won't continue to see the type of economic growth and job growth that we saw in 2014 continuing this year," said Gus Faucher, senior
  
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• UPDATE 1-FDA staff backs injection to reduce double chin

  05-03-2015 17:43
  March 5 (Reuters) - An injection for "double chin" reduction developed by Kythera Biopharmaceuticals Inc cleared the first hurdle toward approval as U.S. Food and Drug Administration staff concluded...
  
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• TSX higher as banks and resource stocks lead; earnings lift

  05-03-2015 17:39 via news.yahoo.com
  
  By Solarina Ho TORONTO (Reuters) - Canada's main stock exchange rose broadly on Thursday, led by healthy gains among bank shares and forecast-beating results from Canadian Natural Resources Ltd , the country's No. 2 oil and gas producer. The TSX moved in tandem with global stocks, which were supported by the European Central Bank's latest effort to boost the struggling eurozone economy. "The main driver is one, no surprises out of Europe," said Irwin Michael, portfolio manager at ABC Funds. "The
  
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• South Africa's Eskom may sell assets to raise cash: CEO

  05-03-2015 17:37 via news.yahoo.com
  
  By Ed Stoddard and Zandi Shabalala JOHANNESBURG (Reuters) - South Africa's cash-strapped power utility Eskom may sell some of its assets to raise capital as it scrambles to light up Africa's most advanced economy, the company's chief executive said on Thursday. Eskom, which provides virtually all of South Africa's power, faces a funding crunch as it races to bring new power plants online to stave off an electricity crisis. "We have serious financial constraints and extra
  
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