Finance news

• Coke CEO's declined bonus not enough for pay critic Winters

  13-03-2015 23:53
  BOSTON, March 13 (Reuters) - A decision by Coca-Cola Co's chief executive to decline his 2014 bonus did not go far enough, a well-known pay critic said Friday, indicating the company could face more...
  
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• UPDATE 1-U.S. judge approves HP shareholder deal over Autonomy acquisition

  13-03-2015 23:50
  SAN FRANCISCO, March 13 (Reuters) - Hewlett-Packard Co won preliminary approval from a U.S. judge to settle shareholder litigation on Friday involving the information technology company's botched...
  
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• Hanesbrands, Equinix to join S&P 500; Avon Products to leave

  13-03-2015 23:45 via news.yahoo.com
  
  NEW YORK (Reuters) - Hanesbrands will replace Avon Products in the S&P 500 after the close on March 20, while Equinix will replace Denbury Resources , S&P Dow Jones Indices said on Friday. Also after the close on March 20, SL Green Realty Corp will replace Nabors Industries Ltd in the S&P 500, it said. In addition, Celgene Corp , Kinder Morgan and Actavis Plc will replace Freeport-McMoRan , National Oilwell Varco and Apache in the S&P 100 after the close on March 20, it said. Shares of Henry Sch
  
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• Republican 2016 hopefuls see Detroit as punching bag and test tube

  13-03-2015 23:43 via news.yahoo.com
  
  By Andy Sullivan WASHINGTON (Reuters) - Many potential Republican presidential candidates have yet to lay out detailed plans on issues such as taxes and Iran, but several of them have put forth ideas to fix the struggling city of Detroit. Republicans are highlighting Detroit, which emerged in December from a 17-month bankruptcy, as an example of the perils of big government and a possible testing ground for conservative ideas like tax reductions. "If you want to do something for Detroit, why don
  
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• UPDATE 2-Colombia's Ecopetrol says will not extend Pacific Rubiales oilfield contract

  13-03-2015 23:42
  BOGOTA, March 13 (Reuters) - Colombia's state-run oil company Ecopetrol will not extend its contract with Toronto-listed Pacific Rubiales to operate the country's highest-producing oilfield, the...
  
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• China's BYD takes aim at Tesla in battery factory race

  13-03-2015 23:39
  LOS ANGELES, March 13 (Reuters) - Chinese automaker BYD Co Ltd, backed by Warren Buffett's Berkshire Hathaway Inc, aims to triple its production of batteries as it takes on Tesla Motors in the race...
  
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• UPDATE 1-Brazil's Vale transfers stake in Guinea to BSG Resources

  13-03-2015 23:34
  RIO DE JANEIRO, March 13 (Reuters) - Brazilian iron ore miner Vale SA transferred its stake in a joint venture in Guinea to BSG Resources on Friday, the company said in a statement.
  
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• UPDATE 1-BlackBerry wins dismissal of U.S. lawsuit over BlackBerry 10

  13-03-2015 23:24
  March 13 (Reuters) - BlackBerry Ltd on Friday won the dismissal of a U.S. lawsuit accusing it of fraudulently inflating its stock price by painting a misleadingly upbeat picture of the prospects for...
  
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• U.S. regulators order leaky valves on oil railcars be replaced

  13-03-2015 23:13
  HOUSTON, March 13 (Reuters) - The U.S. Federal Railroad Commission on Friday said about 6,000 tank railcars that carry crude oil and other hazardous materials have valves that can leak and must be...
  
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• UPDATE 4-China puts tech bill that concerns West on hold - U.S. official

  13-03-2015 23:10
  WASHINGTON, March 13 (Reuters) - China has put a hold on a draft counter-terrorism law that would require technology firms to hand over sensitive information to government officials, a senior U.S....
  
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• UPDATE 1-Oil industry must join U.S. railroads to boost train safety -regulator

  13-03-2015 23:06
  WASHINGTON, March 13 (Reuters) - Rail operators are going to great lengths to prevent oil train derailments but the energy sector must do more to prevent accidents from becoming fiery disasters, the...
  
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• Exclusive: Uber in deal with China's BYD to test electric cars

  13-03-2015 23:04
  
  (Reuters) - Uber Inc said on Friday it struck a deal with Chinese automaker BYD Co Ltd to test a fleet of electric cars for its drivers.
  
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• Boeing wins $714 mln deal for more CH-47 helicopters

  13-03-2015 22:58
  WASHINGTON, March 13 (Reuters) - Boeing Co has been awarded a contract valued at $714 million for additional work on CH-47 helicopters for the U.S. Army, the U.S. Defense Department said on Friday.
  
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• UPDATE 3-Argentina says bond payment must go through despite U.S. ruling

  13-03-2015 22:55
  BUENOS AIRES, March 13 (Reuters) - Argentina on Friday demanded banks operating in the country process bond interest payments despite a U.S. court ruling that prohibited Citigroup Inc from...
  
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• World carbon emissions stall after almost 40 years of gains: IEA

  13-03-2015 22:54 via news.yahoo.com
  
  Global emissions of carbon dioxide in the energy sector stalled in 2014, breaking steady rises over the past four decades except in years with an economic downturn, the International Energy Agency said on Friday. Emissions of carbon dioxide were flat at 32.3 billion tonnes in 2014 from 2013, according to the IEA. "This is both a welcome surprise and a significant one," IEA chief economist Fatih Birol said in a statement. "This gives me even more hope that humankind will be able to work together
  
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• Cyprus pulls back from abyss after traumatic bailout

  13-03-2015 22:43 via news.yahoo.com
  
  Two years after its failing banks nearly pushed cash-strapped Cyprus over the edge, sending shockwaves through the eurozone, the country has pulled back from the abyss, saved by painful austerity and a multi-billion euro rescue package. Indeed, Finance Minister Harris Georgiades says the economy is responding so well to adjustments that accompanied the European Union/IMF bailout that Cyprus may not need to draw the full 10 billion euro ($10.6 billion) loan. He did not give a figure, but the EU r
  
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• CORRECTED-U.S. municipal bond sales to fall to $7.6 bln next week

  13-03-2015 22:18
  NEW YORK, March 13 (Reuters) - Sales of U.S. municipal bonds and notes are expected to fall back to about $7.6 billion next week from about $12 billion this week, according to Thomson Reuters...
  
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• Fitch Revises Outlook on Zambia to Stable; Affirms at 'B'

  13-03-2015 22:16
  (The following statement was released by the rating agency) LONDON, March 13 (Fitch) : Fitch Ratings has revised the Outlook on Zambia's Long-term foreign and local currency Issuer Default Ratings...
  
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• U.S. seeks billions from global banks in currency investigation: Bloomberg

  13-03-2015 22:14
  
  (Reuters) - The U.S. Justice Department is seeking about $1 billion each from global banks being investigated for manipulation of currency markets, Bloomberg reported on Friday, citing people...
  
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• GLOBAL MARKETS-Dollar powers to fresh highs; stocks and oil fall

  13-03-2015 21:59
  * Dollar index hits highest since April 2003 on rates outlook
  
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• CANADA FX DEBT-Battered oil, jobs outlook yank C$ to six-year lows

  13-03-2015 21:46
  (Adds comments, details, closing figures) * Canadian dollar at C$1.2790 or 78.19 U.S. cents * Bond prices higher across the maturity curve By Solarina Ho TORONTO, March 13 (Reuters) - The Canadian...
  
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• Stocks decline for third week; interest rate worries persist

  13-03-2015 21:32 via news.yahoo.com
  
  NEW YORK (AP) — The stock market was hit hard Friday, capping a third week of declines, as investors reacted to a steep drop in oil prices and a jump in the value of the dollar.
  
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• CRT Capital to buy Sterne Agee's institutional equity business

  13-03-2015 21:31
  (Reuters) - CRT Capital said it entered into a deal with Sterne Agee Group Inc and Stifel Financial Corp to buy Sterne Agee's institutional equity business.
  
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• China puts tech bill that concerns West on hold: U.S. official

  13-03-2015 21:31 via news.yahoo.com
  
  By Krista Hughes WASHINGTON (Reuters) - China has put a hold on a draft counter-terrorism law that would require technology firms to hand over sensitive information to government officials, a senior U.S. official said in a good sign for Western businesses who saw the rule as a major impediment to working in the world's second largest economy. President Barack Obama said in an interview with Reuters on March 2 that he had raised concerns about the law directly with Chinese President Xi Jinping. "
  
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• Chicago mayor seeks to phase in higher pension payments

  13-03-2015 21:15 via news.yahoo.com
  
  Chicago Mayor Rahm Emanuel on Friday called for phasing in higher, state-mandated payments to city pension funds to avoid a shock to the city's budget and a big property tax hike. Under an Illinois law, Chicago's contributions to its police and fire pension funds will increase by about $550 million next year. Another state law allowing cost-saving pension cuts to shore up Chicago's municipal and laborers' retirement funds is at risk of being voided as unconstitutional in stat
  
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• UPDATE 1-Chicago mayor seeks to phase in higher pension payments

  13-03-2015 21:13
  CHICAGO, March 13 (Reuters) - Chicago Mayor Rahm Emanuel on Friday called for phasing in higher, state-mandated payments to city pension funds to avoid a shock to the city's budget and a big property...
  
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• Mexico to weigh extending dollar auction by 3 months in June

  13-03-2015 21:09
  MEXICO CITY, March 13 (Reuters) - Mexico's currency commission will in June decide on whether to extend for three months a daily dollar auction aimed at propping up the peso, Mexico's deputy finance...
  
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• U.S. dollar net longs highest in 4 weeks-CFTC, Reuters

  13-03-2015 21:02
  March 13 (Reuters) - Positive bets on the U.S. dollar rose to its highest level in four weeks as some speculators rebuilt bearish bets on the euro as the European Central Bank started its 1.1...
  
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• Speculative net shorts in U.S. 10-year T-note futures dip-CFTC

  13-03-2015 20:51
  March 13 (Reuters) - Speculators' net bearish bets on U.S. 10-year Treasury note futures fell slightly in the latest week despite a strong February jobs report that revived some expectations the...
  
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• GLOBAL MARKETS-Dollar rallies to fresh highs; stocks and oil fall

  13-03-2015 20:43
  * Brent, WTI fall more than 4 pct each (Revises comment, updates prices)
  
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• GOP Looks at Medicaid and Food Stamps for Overhaul

  13-03-2015 20:36 via news.yahoo.com
  
  Under that approach, the federal government would pay the states a lump sum instead of a portion of the programs cost. The Wall Street Journal first reported on Thursday that Senate Budget Committee Chair Mike Enzi of Wyoming and other Republican leaders will include the plan in their fiscal 2016 budget proposal that will be unveiled sometime next week.
  
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• REFILE-Valeant deal survives Endo surprise

  13-03-2015 20:17
  NEW YORK, March 13 (IFR) - Pharmaceuticals firm Endo stunned the market with a last-minute bid for Salix last Wednesday, but the surprise turn of events did little to dent demand for a multi-billion...
  
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• Egypt rakes billions in Gulf aid that boosts its president

  13-03-2015 20:15 via news.yahoo.com
  
  SHARM EL-SHEIKH, Egypt (AP) — Egypt raked in promises of more than $12 billion in investment and aid from its Gulf Arab allies on Friday, kicking off an international conference aimed at rescuing the country's gutted economy and giving a political boost to its soldier-turned-president.
  
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• U.S. FCC pauses clock on Comcast-TWC, AT&T-DirecTV merger reviews

  13-03-2015 20:02
  
  WASHINGTON (Reuters) - The U.S. Federal Communications Commission on Friday paused its informal 180-day countdown to deciding the fate of two mergers - Comcast Corp's with Time Warner Cable Inc and...
  
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• Gulf Arab allies pledge $12 billion to Egypt at summit

  13-03-2015 19:44 via news.yahoo.com
  
  By Michael Georgy and Stephen Kalin SHARM EL-SHEIKH (Reuters) - Gulf Arab allies pledged a further $12 billion of investments and central bank deposits for Egypt at an international summit on Friday, a big boost to President Abdel Fattah al-Sisi as he tries to reform the economy after years of political upheaval. Kuwait, Saudi Arabia and United Arab Emirates each offered $4 billion to Egypt, which is grappling with Islamist insurgents as it attempts to improve the investment climate four years a
  
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• Indian independence leader Gandhi gets London statue near nemesis Churchill

  13-03-2015 19:27 via news.yahoo.com
  
  By Andrew Osborn LONDON (Reuters) - Britain will unveil a statue of Indian independence leader Mahatma Gandhi on Saturday in London's prestigious Parliament Square, a space packed with monuments to men who defended the British Empire which Gandhi helped destroy. In an ironic twist, Gandhi's likeness will sit close to that of Britain's former wartime leader Winston Churchill, a man who strained to thwart Indian independence and who despised Gandhi and everything he stood for. Churchill famously c
  
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• NYSE ex-manager sues over firing after 'Daily Show' appearance

  13-03-2015 19:23 via news.yahoo.com
  
  A former New York Stock Exchange managing director has filed a lawsuit claiming he was fired for appearing on the satirical newscast "The Daily Show" to discuss Obamacare because his bosses objected to the program's politics. In a lawsuit filed Thursday in California state court, Todd Wilemon says his supervisors at Intercontinental Exchange Inc. (ICE), which owns NYSE and other financial exchanges, had allowed him to appear on Fox News, Al Jazeera and other television stations without receiving
  
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• Schaeuble tells Greece: don't blame others for your economic woes

  13-03-2015 19:20 via news.yahoo.com
  
  Greece's economic problems are home-made, German Finance Minister Wolfgang Schaeuble told an Austrian newspaper, reiterating Berlin's line that it will not pay war reparations to Athens. They are not in Brussels, Europe or Germany. They are in the fact that Greece lived beyond its means for a long time," he said in an interview with Der Standard released ahead of publication on Saturday. Germany this month dismissed Greek demands to pay World War Two reparations after leftist Prime Minister Alex
  
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• Kerry pledges support for Egypt economic reforms, urges investment

  13-03-2015 18:57 via news.yahoo.com
  
  By Lesley Wroughton SHARM EL-SHEIKH, Egypt (Reuters) - U.S. Secretary of State John Kerry on Friday urged businesses to invest in Egypt and praised President Abdel Fattah el-Sisi's government for reforms to restore investor confidence and boost the economy. Addressing an investment conference in the Red Sea resort of Sharm El-Sheikh, Kerry said the United States would support Egypt's economic progress "in any way we can" to ensure lasting growth and to attract needed investme
  
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• EU executive warns of Grexit 'catastrophe', urges euro solidarity

  13-03-2015 18:45 via news.yahoo.com
  
  The European Commission warned of "catastrophe" if Greece has to abandon the euro and its chief executive, Jean-Claude Juncker, urged EU governments to show solidarity as Athens struggles to secure more credit. A day after German Finance Minister Wolfgang Schaeuble said Greece might stumble out of the euro zone because new, left-wing leaders failed to negotiate new borrowings, Juncker's economics commissioner said EU hardliners underestimated the risk that this would start a fatal
  
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• UPDATE 4-EU executive warns of Grexit "catastrophe", urges euro solidarity

  13-03-2015 18:40
  * Moscovici warns Greek exit could be beginning of end of euro
  
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• GLOBAL MARKETS-Dollar gallops to fresh highs; stocks and oil fall

  13-03-2015 18:36
  * Brent, WTI continue to slide (Revises comment, updates prices)
  
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• People linked to Pershing Square probed over Herbalife - Ackman

  13-03-2015 18:35 via news.yahoo.com
  
  Billionaire investor Bill Ackman said some people hired by a consulting group working for his hedge fund had received subpoenas from federal agencies investigating possible manipulation of Herbalife Ltd's stock. Herbalife's shares rose more than 15 percent after the Wall Street Journal reported late on Thursday that federal prosecutors and the FBI were probing whether false statements were made in order to spur investigations into the company and lower its stock price. Ackman, whose he
  
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• UPDATE 1-Trading volume of 2014 emerging market debt grew 6 pct to $5.922 trln-EMTA

  13-03-2015 18:33
  NEW YORK, March 13 (Reuters) - The trading volume of emerging market debt grew 6 percent to $5.922 trillion in 2014 from the previous year, amid sharp drops in the sector's currencies, interest rates...
  
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• Beleaguered Ukraine receives first $5bn tranche of IMF loan

  13-03-2015 18:33 via news.yahoo.com
  
  Cash-strapped Ukraine on Friday received the first $5 billion tranche of an International Monetary Fund bailout as it began talks with foreign creditors on restructuring its debt. "The money is arriving on the National Bank's accounts, the entire sum will arrive by the end of the day," the finance ministry said in a statement. The IMF has pledged a total of $17.5 billion in aid over four years, part of an international rescue package for Ukraine, whose economy -- already in poor r
  
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• BRIEF-Ultrasonic - preliminary insolvency administrator appointed

  13-03-2015 18:31
  * Local Court of Cologne by way of order has appointed
  lawyer Christoph Niering (Niering Stock Tömp) as preliminary
  insolvency administrator of assets of Ultrasonic
  
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• Brazil will not use foreign reserves to ease real plunge -source

  13-03-2015 18:30
  BRASILIA, March 13 (Reuters) - The Brazilian government will not use its foreign reserves to limit the slide of the real as it does not consider the currency's sharp sell-off as resulting from a...
  
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• Argentina says to be inflexible with banks despite U.S. court ruling

  13-03-2015 18:29
  BUENOS AIRES, March 13 (Reuters) - Argentina said on Friday it will demand that banks operating in the country abide by local law despite a U.S. court ruling the day before that banned Citigroup Inc...
  
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• Greece's problems stem from living above its means, Schaeuble tells paper

  13-03-2015 18:29 via news.yahoo.com
  
  VIENNA (Reuters) - Greece's economic problems are home-made, German Finance Minister Wolfgang Schaeuble told an Austrian newspaper, reiterating Berlin's line that it will not pay war reparations to Athens.
  
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• UPDATE 1-Iraqi forces pause in battle to drive Islamic State from Tikrit

  13-03-2015 18:28
  * Militants defend Tikrit with snipers, bombs, booby-traps (Adds arrival of Shi'ite Peace Brigade forces in Samarra)
  
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