Finance news

• UPDATE 3-Puerto Rico's $2.95 bln bond sale delayed until early May

  16-03-2015 23:57
  March 16 (Reuters) - Puerto Rico will delay a planned bond sale of $2.95 billion until early May due to ongoing negotiations between the U.S. commonwealth and potential buyers, according to three...
  
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• Obama: care more about jobs, war and peace - less about weed

  16-03-2015 23:26 via news.yahoo.com
  
  President Barack Obama has a stern message for the younger generation about their political priorities: care more about climate change, and less about legalizing marijuana. Obama, who has been open about smoking pot in high school, chided an interviewer from Vice News who suggested that young people would view legalizing marijuana as a top item when considering the president's legacy. "First of all, it shouldn't be young people's biggest priority," Obama said in the inte
  
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• Uber CFO Brent Callinicos steps down - WSJ

  16-03-2015 23:22 via news.yahoo.com
  
  (Reuters) - Uber Technologies Inc's Chief Financial Officer Brent Callinicos is stepping down, the Wall Street Journal reported, citing an email from the online taxi service's CEO. Callinicos, a former Google Inc executive, will be an advisor to Uber. No replacement has been named yet, Chief Executive Travis Kalanick told investors in the email, the Journal said. "Brent has done a wonderful job here at Uber but has decided that it is time for his next journey, one where his wife a
  
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• Credit Suisse settles Freeport-McMoRan litigation for $16.25 mln

  16-03-2015 23:15
  March 16 (Reuters) - Credit Suisse Group Inc will pay $10 million in cash and provide $6.25 million worth of advisory work to Freeport-McMoRan Inc to settle allegations it contributed to the natural...
  
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• Pacific Rubiales, Brazilian credits slip in quiet session

  16-03-2015 23:11
  NEW YORK, March 16 (IFR) - Corporate credits underperformed sovereigns on Monday in a relatively quiet session that saw Brazilian corporates and Colombia-focused E&P company Pacific Rubiales remain...
  
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• 'King Bibi's' reign challenged in Israeli election

  16-03-2015 23:06 via news.yahoo.com
  
  By Dan Williams JERUSALEM (Reuters) - Prime Minister Benjamin Netanyahu's march towards becoming the longest-serving leader of Israel could be halted on Tuesday in an election that has exposed public fatigue with his stress on national security rather than socio-economic problems. Surging rhetoric against Iran and the Palestinians has apparently done little to close Netanyahu's lag behind center-left opponent Isaac Herzog in opinion polls. Much will depend on which candidate the smalle
  
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• UPDATE 1-Foreigners sell U.S. Treasuries for 3rd straight month -Treasury data

  16-03-2015 22:42
  NEW YORK, March 16 (Reuters) - Foreign investors sold U.S. Treasuries for a third straight month in January, pushing outflows to their highest in at least three years, according to the latest...
  
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• Pinterest's latest funding round values it at $11 billion - WSJ

  16-03-2015 22:28 via news.yahoo.com
  
  (Reuters) - Photo-sharing application company Pinterest has raised $367 million (247 million pounds) in its latest round of funding, according to a filing with the Securities and Exchange Commission on Monday. The amount raised values the company at $11 billion, The Wall Street Journal reported.
  
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• UPDATE 4-Scripps enters Polish media market with broadcaster TVN buy

  16-03-2015 22:18
  * Scripps buys 52.7 pct in TVN from ITI holding and French Vivendi
  
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• Activist investor Stilwell settles SEC case he claimed was illegal

  16-03-2015 22:16
  NEW YORK, March 16 (Reuters) - Activist hedge fund manager Joseph Stilwell and his Stilwell Value LLC will pay more than $589,000 to settle U.S. Securities and Exchange Commission allegations that...
  
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• UPDATE 4-Valeant trumps Endo with $10.96 billion bid for Salix Pharma

  16-03-2015 22:16
  March 16 (Reuters) - Valeant Pharmaceuticals International Inc increased its takeover offer for Salix Pharmaceuticals Inc to $10.96 billion in cash on Monday, eliminating Endo International Plc, the...
  
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• Everest Capital shuts six of its seven remaining hedge funds: CNBC

  16-03-2015 22:11
  NEW YORK (Reuters) - Everest Capital, a hedge fund firm founded in 1990 that counted George Soros and Nelson Peltz as early backers, is closing six of its seven remaining hedge funds because of bad...
  
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• Bank of Japan to maintain aggressive stimulus, recovery view

  16-03-2015 22:00
  TOKYO, March 17 (Reuters) - The Bank of Japan is set to maintain its massive stimulus programme on Tuesday and signal its conviction that a steady economic recovery will help achieve its ambitious...
  
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• Rousseff to survive Brazil protests, but economy could suffer

  16-03-2015 21:41 via news.yahoo.com
  
  By Brian Winter SAO PAULO (Reuters) - Huge demonstrations against President Dilma Rousseff over the weekend will make it harder for her to fix Brazil's finances and repair the economic damage from a corruption scandal at state-run oil company Petroleo Brasileiro SA. About 1 million people took to the streets in two dozen cities on Sunday, a much larger turnout than expected, to call for the impeachment of the leftist president and vent their anger over the billions of dollars allegedly misa
  
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• CANADA FX DEBT-C$ little changed as markets await U.S. Fed

  16-03-2015 21:37
  (Adds fresh comment, closing figures, additional details) * Canadian dollar at C$1.2780 or 78.25 U.S. cents * Bond prices higher across the maturity curve By Leah Schnurr OTTAWA, March 16 (Reuters) -...
  
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• Spearman named chairman of U.S. ag lender Farm Credit

  16-03-2015 21:37
  March 16 (Reuters) - Kenneth Spearman, a citrus industry veteran and board member of the Farm Credit Administration since 2009, was named by President Barack Obama to head the farm lender on...
  
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• Wall Street bounces as dollar drops, Fed worries ease

  16-03-2015 21:34 via news.yahoo.com
  
  U.S. stocks rallied on Monday as the U.S. dollar eased back from its recent peak and worries eased about the timing of a Federal Reserve interest rate hike. Recent dollar strength has increased expectations the Fed could be more cautious about raising rates this year. The day's gains gave the S&P 500 its biggest percentage gain since Feb. 3, with the S&P utilities , which tend to do well in a low interest rate environment, among the day's best-performing sectors. All eyes will
  
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• Stocks up broadly; U.S. helped by dollar weakness

  16-03-2015 21:31 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - The U.S. dollar weakened broadly on Monday ahead of the Federal Reserve's policy meeting on worries that the central bank could become more cautious about raising interest rates, while Wall Street stocks rose as the greenback's fall eased worries about its effect on corporate profits. Comments by Italy's central bank governor that the euro has fallen faster than the European Central Bank expected contributed to the currency's rise on Mo
  
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• Draghi: Sustained recovery arriving in Europe, reform needed

  16-03-2015 21:27 via news.yahoo.com
  
  FRANKFURT, Germany (AP) — A sustained economic recovery is finally arriving in the 19-country eurozone, European Central Bank head Mario Draghi said Monday - a recovery he says must be used to complete the euro currency union and fix its problems for good.
  
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• GLOBAL MARKETS-Stocks up broadly; U.S. helped by dollar weakness

  16-03-2015 21:23
  * Crude oil falls, gold prices weaken again (Updates to the close of U.S. trading)
  
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• UPDATE 3-Life Time Fitness to be taken private for over $4 bln

  16-03-2015 21:22
  March 16 (Reuters) - Gym operator Life Time Fitness Inc said it would be taken private by Leonard Green & Partners and TPG in a deal valued at over $4 billion.
  
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• TREASURIES-Bond prices inch higher on potential for dovish Fed

  16-03-2015 21:15
  * Low volume, U.S. stock rally cap Treasury price gains (Recasts throughout to add comments, updates prices)
  
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• Foreign investors sell long-term U.S. assets in Jan -Treasury data

  16-03-2015 21:09
  NEW YORK, March 16 (Reuters) - Foreigners sold long-term U.S. securities in January after buying them the previous month, data from the U.S. Treasury Department showed on Monday.
  
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• Wall Street jumps 1 percent as U.S. dollar weakens

  16-03-2015 21:04 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks rallied 1 percent on Monday as the U.S. dollar eased back from its recent rally and worries softened about the timing of a Federal Reserve interest rate hike. The Dow Jones industrial average rose 224.58 points, or 1.27 percent, to 17,973.89, the S&P 500 gained 27.55 points, or 1.34 percent, to 2,080.95 and the Nasdaq Composite added 57.75 points, or 1.19 percent, to 4,929.51. (Reporting by Ryan Vlastelica; Editing by Nick Zieminski)
  
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• Draghi: Use respite from nascent upturn to complete the euro

  16-03-2015 20:58 via news.yahoo.com
  
  FRANKFURT, Germany (AP) — Economic recovery in Europe is finally arriving, European Central Bank head Mario Draghi said Monday — a recovery he says must be used to complete the 19-country euro currency union and fix its problems for good.
  
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• Northwestern Mutual to pay $84 million to settle annuities lawsuit

  16-03-2015 20:46
  (Reuters) - Northwestern Mutual Life Insurance Co agreed to pay $84 million to settle a lawsuit claiming that it illegally reduced potential payouts on annuities it sold at least 30 years ago,...
  
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• Eyeing retirement, broker leaves Morgan Stanley for Steward Partners

  16-03-2015 20:37
  NEW YORK (Reuters) - After 26 years at Morgan Stanley, financial adviser Kevin Cignetti saw retirement on the horizon and decided to spend his last working years at an independent financial advisory...
  
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• Russia accuses Kiev of tightening blockade on rebel east

  16-03-2015 20:03 via news.yahoo.com
  
  Russia said on Monday that Kiev was stepping up a "blockade" of eastern Ukrainian regions controlled by pro-Russian rebels and accused Kiev of violating ceasefire agreements. Ukrainian President Petro Poroshenko said during a visit to Berlin he wanted European Union leaders to make clear they would impose further economic sanctions against Russia if Moscow did not implement a ceasefire agreed in Minsk in February.
  
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• Euro rises almost 1 percent and U.S. equities climb

  16-03-2015 19:16 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - The dollar weakened broadly on Monday ahead of the Federal Reserve's policy meeting on worries that the U.S. central bank could become more cautious about raising interest rates, while Wall Street stocks rose because the greenback's fall eased worries about the effect on corporate profits. Comments by Italy's central bank governor that the euro has fallen faster than the European Central Bank expected contributed to the currency's rise
  
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• BRIEF-Asian Bamboo says received petitions for insolvency from DEG, PROPARCO

  16-03-2015 19:05
  * Asian Bamboo says has received petitions for insolvency
  proceedings from DEG and PROPARCO
  
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• EU's Moscovici: No debt relief for Greece

  16-03-2015 19:02 via news.yahoo.com
  
  The European Union's financial affairs chief Pierre Moscovici said on Monday that Greece needed to repay its debt and could not expect its loans to be written off, adding that Athens needed to implement reforms. There will be no haircut, no debt relief," the European Commissioner for Economic and Financial Affairs said in a speech in Berlin. Moscovici said the contagion risks to the rest of the euro zone from the Greek crisis were "much lower" than they were two years ago but stressed that count
  
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• Wall St bounces, led by utilities, as dollar drop eases earnings worry

  16-03-2015 18:50 via news.yahoo.com
  
  The dollar fell across the board Monday on investor concerns its recent strength could prompt the Federal Reserve to be more cautious about raising interest rates this year. "It's just a little bit of relief from last week's selloff," said Joseph Benanti, managing director, sales and trading of Rosenblatt Securities in New York. At 1:19 p.m., the Dow Jones industrial average rose 176.44 points, or 0.99 percent, to 17,925.75, the S&P 500 gained 19.9 points, or 0.97 percent
  
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• Wall Street bounces, led by utilities, as dollar drop eases earnings worry

  16-03-2015 18:48 via news.yahoo.com
  
  The dollar fell across the board Monday on investor concerns its recent strength could prompt the Federal Reserve to be more cautious about raising interest rates this year. The S&P 500 has fallen 2.7 percent in the last three weeks, including a 0.9 percent drop last week.
  
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• Permira launches 1 billion euro Hugo Boss share sale - source

  16-03-2015 18:41
  LONDON (Reuters) - European private equity fund Permira [PERM.UL] is selling off its remaining shares in luxury clothing retailer Hugo Boss , worth 1 billion euros ($1.06 billion), a source familiar...
  
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• DAX sets record high, Zurich recovers as European stocks rally

  16-03-2015 18:37 via news.yahoo.com
  
  By Sudip Kar-Gupta LONDON (Reuters) - Germany's DAX raced to record highs on Monday, part of an extended European stock market rally driven by investors' expectations that a weakened euro will boost the region's economy and lift exporter earnings. The European rally also pushed up Switzerland's SMI equity index back towards levels last seen in January, before the Swiss National Bank (SNB) abandoned a three-year peg holding the value of its currency to 1.20 francs per euro. Fa
  
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• Holcim calls a halt to Lafarge deal to revisit terms

  16-03-2015 18:10
  
  PARIS/ZURICH (Reuters) - Switzerland's Holcim called a halt on Monday to its merger with Lafarge , pressing the French company to renegotiate the deal terms and putting their plan to create the...
  
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• UPDATE 4-Holcim calls a halt to Lafarge deal to revisit terms

  16-03-2015 18:09
  PARIS/ZURICH, March 16 (Reuters) - Switzerland's Holcim called a halt on Monday to its merger with Lafarge , pressing the French company to renegotiate the deal terms and putting their plan to create...
  
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• Valeant trumps Endo with $11 billion bid for Salix Pharma

  16-03-2015 17:56
  
  (Reuters) - Valeant Pharmaceuticals International Inc increased its takeover offer for Salix Pharmaceuticals Inc to $10.96 billion in cash on Monday, bumping out Endo International Plc , the only...
  
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• Stronger miners and Tesco help FTSE to close higher

  16-03-2015 17:53
  LONDON, March 16 (Reuters) - Britain's top share index rebounded on Monday after its biggest weekly drop of 2015, with mining stocks boosting the market on expectations of steady economic growth in...
  
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• Global equities rise as euro recovers and dollar weakens

  16-03-2015 17:37 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - Stock markets around the world rallied on Monday, with U.S. shares recovering after an extended period of weakness as the U.S. dollar weakened and eased concerns about its impact on corporate profits, while the euro recovered from a 12-year low. European shares jumped, with German stocks surging to a record high, while Wall Street rebounded after three straight weekly declines. The euro rose 1 percent to $1.06 after Italy's central bank governor expre
  
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• Did Greek minister Varoufakis show Germany the 'Stinkefinger'?

  16-03-2015 17:25 via news.yahoo.com
  
  By Stephen Brown BERLIN (Reuters) - Greek Finance Minister Yanis Varoufakis tangled yet again with Berlin on Monday after German television aired a 2013 video purportedly showing him making a rude gesture toward Europe's economic powerhouse. Varoufakis denied brandishing his middle finger - known in Germany as the "Stinkefinger" - during a lecture in Croatia where he said Greece should have defaulted in 2010 rather than accept a multi-billion euro bailout package. "The video
  
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• WPP submits bid for majority stake in Dunnhumby: source

  16-03-2015 17:16
  LONDON (Reuters) - British advertising group WPP has bid for a majority stake in Dunnhumby, the customer data business put up for sale by Tesco, a person familiar with the situation said on Monday.
  
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• Canada crop processor Legumex Walker hangs for-sale sign; shares up

  16-03-2015 17:15
  WINNIPEG, Manitoba, March 16 (Reuters) - Canada's Legumex Walker Inc, which operates a canola-crushing plant in Washington State, said on Monday that it might sell itself or make other strategic...
  
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• Oil embargo should be considered if Libya talks fail, Spain says

  16-03-2015 16:57 via news.yahoo.com
  By Robin Emmott and Francesco Guarascio BRUSSELS (Reuters) - Spain said on Monday the European Union should consider an oil embargo and freezing of Libyan central bank assets if U.N.-brokered talks to resolve the country's political crisis failed. EU foreign ministers agreed to draw up proposals for an EU mission to Libya if the talks produced a deal between two rival governments and armed factions battling for power and oil wealth four years after NATO helped oust Muammar Gaddafi. Spanish
  
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• Stronger Tesco and miners help FTSE to bounce back

  16-03-2015 16:38
  LONDON, March 16 (Reuters) - Britain's top share index rebounded on Monday after its biggest weekly drop of 2015, with Tesco leading the market higher on a report that WPP was eyeing a majority stake...
  
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• P&G mulls sale, IPO of some beauty products in one deal - Bloomberg

  16-03-2015 16:35
  (Reuters) - Procter & Gamble Co is exploring a sale or initial public offering of some of its beauty brands in a single deal, Bloomberg reported, citing people with knowledge of the matter.
  
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• Shell pulls back from shale in South Africa

  16-03-2015 16:26 via news.yahoo.com
  
  Royal Dutch Shell is pulling back from its shale projects in South Africa due to lower energy prices and delays in obtaining an exploration licence for the onshore Karoo Basin, it said on Monday. A more than halving of crude oil prices since June has put high cost projects such as shale gas exploration in jeopardy around the globe, and Shell South Africa said waiting six years for a licence for Karoo had not helped. Chairman Bonang Mohale, who said the company was going to a "low cost holdi
  
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• EU moves ahead with Bosnia pre-accession pact

  16-03-2015 16:26 via news.yahoo.com
  
  The European Union gave the green light on Monday to a long-awaited pact with Bosnia, a first step toward possible membership of the bloc after years of political and economic stagnation. The move is part of a new drive, led by Germany and Britain, to spur reform and address the anger and frustrations among ordinary Bosnians that fueled unprecedented civil unrest in February last year. The Stabilisation and Association Agreement (SAA) is a pre-accession pact that brings much-needed EU funds and
  
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• South Africa's rand firmer; current account, CPI in focus

  16-03-2015 16:18 via news.yahoo.com
  
  South Africa's rand firmed against the dollar on Monday as the U.S. currency took a breather from its sharp gains but investors remained wary ahead of data expected to give an indication of how the domestic economy was performing. Current account deficit figures due on Tuesday and inflation data scheduled to be released on Wednesday are expected to show growth conditions in Africa's most advanced economy, and analysts said bad numbers could push the currency lower. "The only margi
  
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• Wall Street climbs as dollar drop eases worry over earnings impact

  16-03-2015 16:09 via news.yahoo.com
  
  Investors were cautious ahead of a U.S. Federal Reserve statement due on Wednesday, when they expect the central bank to give a clearer signal on the timing of its first interest rate hike in almost a decade. The Dow lost 0.6 percent last week while the Nasdaq declined 1.1 percent. "It's just a little bit of relief from last week's selloff," said Joseph Benanti, managing director, sales and trading of Rosenblatt Securities in New York. A recovery in the euro reassured some in
  
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