Finance news

• Madoff feeder fund settles; victims' recovery tops $10.6 billion

  23-03-2015 23:49
  
  NEW YORK (Reuters) - The trustee recovering money for Bernard Madoff's victims on Monday announced a settlement to recoup $93 million from a "feeder fund" that sent client money to the swindler's...
  
  Read more

• UPDATE 1-FDA approves Abiomed's blood pump device

  23-03-2015 23:16
  March 23 (Reuters) - The U.S. Food and Drug Administration said it approved Abiomed Inc's miniature blood pump system that maintains heart function and circulation during high-risk procedures.
  
  Read more

• Former Weil partner Davis tapped as Caesars examiner

  23-03-2015 23:14
  March 23 (Reuters) - Restructuring lawyer Richard Davis will
  likely lead an investigation into transactions by the operating
  unit of Caesars Entertainment Corp, which filed for
  Chapter 11 this year.
  
  Read more

• UPDATE 1-Franklin Templeton files opening brief in appeal of Stockton, CA, bankruptcy exit plan

  23-03-2015 22:57
  March 23 (Reuters) - The holdout creditor in Stockton,
  California's bankruptcy case filed its opening brief in an
  appeal of the city's reorganization plan on Monday, claiming "no
  bondholder has ever...
  
  Read more

• Advertisement

• UBS Wealth Americas promotes Locicero, Meraz

  23-03-2015 22:47
  NEW YORK (Reuters) - Todd Locicero and Ron Meraz have been promoted from complex directors to regional directors at UBS Wealth Management Americas, according to an internal memo distributed on...
  
  Read more

• Nasdaq to provide trading technology for bitcoin marketplace: WSJ

  23-03-2015 22:26 via news.yahoo.com
  
  (Reuters) - Nasdaq OMX Group Inc  agreed to provide a startup the core technology to power a marketplace for trading bitcoins and related digital-currency assets, the Wall Street Journal reported. New York-based startup Noble Markets will use Nasdaq's X-stream trading system, which is used by more than 30 exchanges and marketplaces worldwide, the Journal reported, citing a joint statement. Nasdaq will also provide marketing support. (http://on.wsj. ...
  
  Read more

• Merrill Lynch hires Morgan Stanley manager

  23-03-2015 22:07
  NEW YORK (Reuters) - Bank of America Corp's Merrill Lynch unit has hired a southern California regional manager, Mark Kremers, from rival brokerage Morgan Stanley, BofA said Monday.
  
  Read more

• US stock market starts the week with a small loss

  23-03-2015 21:47 via news.yahoo.com
  
  NEW YORK (AP) — A late turn pulled the stock market to a loss on Monday, as major indexes wavered following a strong run last week.
  
  Read more

• Advertisement

• Dollar slips further, crude oil prices rebound

  23-03-2015 21:44 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - The dollar fell further on Monday on views a Federal Reserve interest rate hike will come later rather than sooner, and the decline helped boost oil prices. U.S. energy shares initially were among the biggest gainers on Wall Street as crude prices rebounded on the weak dollar. The euro rose more than 1 percent and the dollar index, a gauge of the greenback against six major currencies, lost almost as much. Gold rose for a fourth day to a two-week high, while
  
  Read more

• UPDATE 3-Fund wants 9 bln euro Vivendi dividend to boost shares

  23-03-2015 21:39
  * Fund says Universal or Canal+ sale could bring more cash (Recasts with PSAM statement, Vivendi comment)
  
  Read more

• Franklin Templeton files opening brief in appeal of Stockton bankruptcy exit plan

  23-03-2015 21:35
  March 23 (Reuters) - The holdout creditor in Stockton,
  California's bankruptcy case filed an opening brief in its
  appeal of the city's reorganization plan on Monday, claiming "no
  bondholder has ever...
  
  Read more

• US stock market starts week with small losses

  23-03-2015 21:22 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stock indexes are closing slightly lower following a strong performance last week.
  
  Read more

• Poll shows most Brazilians favor Rousseff's impeachment

  23-03-2015 20:57 via news.yahoo.com
  
  President Dilma Rousseff's popularity has fallen to a new low and a majority of Brazilians now favor her impeachment, according to an opinion poll published on Monday. The CNT/MDA poll confirmed other recent surveys that have shown Rousseff's popularity plunging due to a massive corruption scandal at state-run oil company Petrobras as well as a stagnant economy that faces rising inflation. The new survey said 59.7 percent of respondents favor Rousseff's impeachment, while 64.8 per
  
  Read more

• Brazil president's popularity plummeting: new poll

  23-03-2015 20:17 via news.yahoo.com
  
  BRASILIA (Reuters) - President Dilma Rousseff's popularity continues to fall according to a new poll published on Monday that said 64.8 percent of Brazilians rate her government negatively and only 10.8 percent see it as positive. The CNT/MDA poll confirmed earlier surveys that showed Rousseff's popularity tanking due to a massive corruption scandal at state-run oil company Petrobras and a stagnant economy. When CNT/MDA last surveyed Rousseff's popularity in late September, before
  
  Read more

• Tsipras, Merkel display goodwill, little sign of debt progress

  23-03-2015 20:12 via news.yahoo.com
  
  By Renee Maltezou and Erik Kirschbaum BERLIN (Reuters) - Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel put on a public display of mutual goodwill on Monday, appealing to Greeks and Germans to set aside recrimination and national stereotypes and work for a better European future. Yet despite warm words on the new leftist premier's first official visit to Berlin, it was unclear if they had narrowed differences on economic reforms Greece must implement to win urgently
  
  Read more

• Investment funds buy $8.756 billion 10-year note in March: U.S. Treasury

  23-03-2015 20:03
  (Reuters) - Large investment managers bought $8.756 billion at a 10-year note auction held in March,
  
  Read more

• U.S. business borrowing for equipment rises 13 percent in February: ELFA

  23-03-2015 20:01
  (Reuters) - U.S. companies' borrowing for capital investment rose 13 percent in February from a year earlier, the Equipment Leasing and Finance Association (ELFA) said.
  
  Read more

• Germany sees all Europeans as equals, Merkel tells Tsipras

  23-03-2015 19:21 via news.yahoo.com
  
  BERLIN (Reuters) - Germany sees all partners in Europe as its equals despite having the largest economy and wants good relations with all of them including Greece, Chancellor Angela Merkel said on Monday after talks with Greek Prime Minister Alexis Tsipras. "Although there are 80 million people living in Germany and we are the biggest economy in the European Union, this Europe is built on the principle that each country is equally important - no matter how many residents it has," Merkel said. (R
  
  Read more

• Punishment for Spain's Rajoy in regional vote signals tough election year

  23-03-2015 19:09 via news.yahoo.com
  
  By Julien Toyer MADRID (Reuters) - Voters in southern Spain dealt a blow to Prime Minister Mariano Rajoy's hopes of winning a second term this year on the strength of the country's economic recovery, abandoning his center-right Popular Party for upstarts and the opposition Socialists. One of the countries worst-hit by Europe's economic crisis, Spain is now one of the continent's fastest growing economies, but unemployment remains high and most Spaniards are still a long way f
  
  Read more

• U.N. watchdog says 'progress limited' on Iran nuclear inquiry

  23-03-2015 19:01 via news.yahoo.com
  
  The U.N. nuclear watchdog has had limited progress in its inquiry into possible military dimensions of Iran's nuclear program, although Iran has cooperated with the agency in implementing an interim deal reached with world powers, the agency's chief said on Monday. The International Atomic Energy Agency (IAEA) is investigating allegations of explosives tests and other activity by Iran that could be used to develop nuclear bombs. This inquiry runs parallel to Tehran's talks with si
  
  Read more

• Germany wants Greece to grow and to bring down unemployment

  23-03-2015 18:56 via news.yahoo.com
  
  German Chancellor Angela Merkel said alongside Greek Prime Minister Alexis Tsipras on Monday that her country wanted the Greek economy to grow and to overcome high unemployment, but this would require structural reforms and solid public finances. "We want Greece to be strong economically, we want Greece to grow and above all we want Greece to overcome its high unemployment," she told a joint news conference after they held initial talks on his first visit to Berlin as prime minister.
  
  Read more

• UPDATE 1-Saras shares boosted by talk Rosneft may lift stake

  23-03-2015 18:52
  MILAN, March 23 (Reuters) - Saras shares jumped to a 42-month high on Monday on speculation Rosneft might raise its stake in the Italian refiner, lured by rising margins in the industry and after...
  
  Read more

• Brazil opposition party not seeking impeachment: Cardoso

  23-03-2015 18:47 via news.yahoo.com
  
  By Brian Winter SAO PAULO (Reuters) - Brazil's biggest opposition party has no interest in impeaching President Dilma Rousseff despite recent street demonstrations calling for her ouster, former President Fernando Henrique Cardoso told Reuters. Cardoso, who at 83 remains an influential leader in the centrist Brazilian Social Democracy Party (PSDB), said removing Rousseff so soon after she was re-elected would be destructive to Brazil's 30-year-old democracy, especially since prosecutor
  
  Read more

• UPDATE 2-Sika wins court ruling in St-Gobain bid battle, shares rise

  23-03-2015 18:38
  PARIS, March 23 (Reuters) - Shares in Sika rose on Monday after the Swiss chemicals firm won a court ruling in its battle to fend off a back-door takeover by Saint-Gobain .
  
  Read more

• Humana to sell Concentra medical center unit for $1 billion

  23-03-2015 18:29 via news.yahoo.com
  
  Health insurer Humana Inc said on Monday that it would sell its Concentra urgent care and physical therapy services unit for about $1 billion to private equity firm Welsh, Carson, Anderson & Stowe and Select Medical Holdings Corp. Humana, which focuses on providing Medicare Advantage plans to older people, has been reviewing its assets for possible sales, and Wall Street analysts had surmised that Concentra was one of them. Humana said it would use the net proceeds to fund its existing $2 billio
  
  Read more

• Global markets - Dollar resumes slide; stocks, oil prices rebound

  23-03-2015 18:27 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - The dollar fell further on Monday, adding to its steepest weekly drop in 3-1/2 years after the Federal Reserve indicated last week that a rate hike is likely to come later rather than sooner, a view that helped drive up oil prices and U.S. stocks. U.S. energy shares were among the biggest gainers on Wall Street as crude prices rebounded on the weaker dollar. The euro rose 1 percent and the dollar index, which measures the greenback versus six major currencies
  
  Read more

• Miners, StanChart help FTSE to set new record high

  23-03-2015 18:21
  LONDON, March 23 (Reuters) - Britain's blue-chip share index set a record high on Monday as mining stocks rallied with firmer metals prices, outpacing weakness in shares such as Weir Group.
  
  Read more

• Election uncertainty, oil price kill construction in Nigeria

  23-03-2015 18:19 via news.yahoo.com
  
  By Julia Payne ABUJA (Reuters) - Political uncertainty over Nigeria's election on Saturday and economic turmoil from low oil prices have delivered a double blow that has slashed revenues and triggered layoffs for businesses across Africa's biggest economy. "The situation is terrible and there is more ... to come," one construction industry source told Reuters. "There is a desperate lack of funds." The fall in world oil prices to $55 a barrel, half what they were in June, could not have come at a
  
  Read more

• Dollar resumes slide; stocks, oil prices rebound

  23-03-2015 18:08 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - The dollar fell further on Monday, adding to its steepest weekly drop in 3-1/2 years after the Federal Reserve indicated last week that a rate hike is likely to come later rather than sooner, a view that helped drive up oil prices and U.S. stocks. U.S. energy shares were among the biggest gainers on Wall Street as crude prices rebounded on the weaker dollar. The euro rose 1 percent and the dollar index, which measures the greenback versus six major currencies
  
  Read more

• Fed expected to hike this year, but future path uncertain: Fischer

  23-03-2015 18:05 via news.yahoo.com
  
  The Federal Reserve is "widely expected" to begin raising interest rates this year though the path remains uncertain, with policymakers deciding subsequent policy moves on a meeting-by-meeting basis, a top Fed official said on Monday. Stanley Fischer, the Fed's second-in-command, appeared to lay the groundwork for a less predictable future of monetary policy, where economic data and unexpected geo-political risks could prompt the Fed to raise, or lower rates on the run. "What
  
  Read more

• Draghi says ECB bond purchases on target in first month

  23-03-2015 17:44 via news.yahoo.com
  
  European Central Bank chief Mario Draghi said Monday that the bank was "on track" to reach its declared goal for a controversial programme of bond purchases launched earlier this month. "On March 9, we started purchasing public-sector securities as part of our expanded asset purchase programme," Draghi told the European Parliament's Committee on Economic and Monetary Affairs in a regular hearing in Brussels, transmitted live online. "Overall, our asset purchases wil
  
  Read more

• Wall Street little changed as energy pares gains

  23-03-2015 17:30 via news.yahoo.com
  
  U.S. stocks were little changed on Monday, following strong gains in major indexes the previous week, as investors assessed gyrations in the dollar and crude prices and their impact on equities. Gains expanded and contracted, tracking the behavior of energy stocks as crude oil prices were caught between the weakness in the U.S. dollar and concerns about oversupply. The action in the dollar has closely affected stocks of late as traders focus on the Federal Reserve and its expected monetary polic
  
  Read more

• In skeptical Berlin, Merkel hears Greek PM's reform plans in person

  23-03-2015 17:24 via news.yahoo.com
  
  By Stephen Brown and Karolina Tagaris BERLIN/ATHENS (Reuters) - Greek Prime Minister Alexis Tsipras, pressing for cash to keep his country afloat, began talks with Germany's Angela Merkel on Monday after Berlin ruled out any breakthrough in differences with the euro zone over Athens's international bailout. The German chancellor and Greek leader have played down talk of a showdown or expectations that he would use his first official visit to present a new list of reform proposals, whic
  
  Read more

• US stock market makes modest gains following strong week

  23-03-2015 17:07 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stock indexes crept higher in midday trading following a strong performance last week. The gains on Monday were wide but slight: Eight of 10 sectors in the Standard & Poor's 500 index rose, though not by much.
  
  Read more

• ECB buys 26.3 bn euros of bonds in 10 days

  23-03-2015 16:55 via news.yahoo.com
  
  The European Central Bank said Monday it has bought 26.3 billion euros ($28.7 billion) worth of bonds under its controversial quantitative easing programme within the first 10 days. At the same time, ECB President Mario Draghi told a hearing of the European Parliament's Committee on Economic and Monetary Affairs in Brussels that the central bank was "on track" to meet its stated goal of a total 60 billion euros in bond purchases per month. According to data released on the ECB
  
  Read more

• Miners help push FTSE to new record high

  23-03-2015 16:48
  LONDON, March 23 (Reuters) - Britain's blue-chip share index set a new record high on Monday thanks to a rally in miners on the back of firmer metals prices, outpacing weakness in shares such as Weir...
  
  Read more

• Global markets - Dollar resumes decline; stocks, oil prices rebound

  23-03-2015 16:21 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - The dollar resumed its fall on Monday after its steepest weekly drop in 3-1/2 years, driving up oil prices and U.S. stocks after the Federal Reserve indicated last week that an expected rate hike is likely to come later rather than sooner. U.S. energy stocks were among the biggest gainers on Wall Street as crude prices rebounded on the weaker dollar. The euro rose 1 percent and the dollar index, which measures the greenback versus six other major currencies,
  
  Read more

• Dollar resumes decline; stocks, oil prices rebound

  23-03-2015 16:17 via news.yahoo.com
  
  The dollar resumed its fall on Monday after its steepest weekly drop in 3-1/2 years, driving up oil prices and U.S. stocks after the Federal Reserve indicated last week that an expected rate hike is likely to come later rather than sooner. U.S. energy stocks were among the biggest gainers on Wall Street as crude prices rebounded on the weaker dollar. The euro rose 1 percent and the dollar index, which measures the greenback versus six other major currencies, lost almost as much. Gold steadied af
  
  Read more

• Mauritius' budget deficit to widen to 3.2 pct in 2015/2016

  23-03-2015 16:03 via news.yahoo.com
  
  The Mauritius budget deficit for fiscal year 2015/2016 (July-June) is forecast to widen to 3.5 percent of gross domestic product from 3.2 percent in the year 2014 (Jan-Dec), the finance minister said on Monday. In a budget speech to parliament, Finance Minister Seetanah Lutchmeenaraidoo also said the Indian Ocean island's economy will expand by 5.3 percent in the 2015/2016 fiscal year, above an estimated 3.5 percent expansion in 2014 (Jan-Dec). Mauritius' fiscal year has previously ran
  
  Read more

• Russia tries to shore up car industry as VW cuts jobs

  23-03-2015 16:03 via news.yahoo.com
  
  Russia on Monday said it would pump around $425 million into fuelling its crisis-hit automobile industry as Volkswagen became the latest manufacturer to cut back operations in the country. Prime Minister Dmitry Medvedev announced the plan to boost the beleaguered sector that has seen sales plummet on the back of economic turmoil in Russia caused by falling oil prices and Western sanctions over Ukraine. The announcement of the government's intervention to bolster the stalled auto industry ca
  
  Read more

• U.S. homes sales up marginally; supply a constraint

  23-03-2015 15:56 via news.yahoo.com
  
  The National Association of Realtors said on Monday that existing home sales rose 1.2 percent to an annual rate of 4.88 million units. "Insufficient supply appears to be hampering prospective buyers in several areas of the country and is hiking prices to near unsuitable levels," NAR chief economist Lawrence Yun told reporters. Sluggish home sales are yet another sign that economic activity slowed sharply in the first quarter, which could further diminish expectations that the Federal R
  
  Read more

• Energy, mining shares push TSX higher

  23-03-2015 15:46 via news.yahoo.com
  
  Commodity prices have been boosted by weakness in the U.S. dollar since a statement by the U.S. Federal Reserve last week that signaled a softer view on raising interest rates than some in the market had expected. Many commodities are priced in U.S. dollars, and a weaker dollar makes them more affordable to holders of other currencies. Rebounding commodities helped the Toronto stock market's benchmark index record a 1.4 percent gain last week. On Monday, Brent crude oil jumped 1.4 percent,
  
  Read more

• Ocwen rejects allegations of poor mortgage servicing practices

  23-03-2015 15:30
  (Reuters) - Ocwen Financial Corp rejected allegations of poor mortgage servicing practices and said on Monday that it had sent a letter to trustees of 119 mortgage pools, arguing that it should not...
  
  Read more

• Obama to host Japan's Abe to discuss security, trade

  23-03-2015 15:26 via news.yahoo.com
  
  By David Brunnstrom and Susan Heavey WASHINGTON (Reuters) - U.S. President Barack Obama will host Japanese Prime Minister Shinzo Abe at the White House next month for talks expected to focus on their joint response to China's rising power and efforts to finalize a major Asia-Pacific trade pact. Abe, who will spend eight days in the United States, will go to the White House on April 28 to discuss a range of economic and security issues as well as a formal state dinner, the White House said o
  
  Read more

• Buffett tells foreign investors good profits to be made in U.S

  23-03-2015 15:25 via news.yahoo.com
  
  WASHINGTON (Reuters) - Berkshire Hathaway Inc Chief Executive Officer and Chairman Warren Buffett said on Monday the U.S. economy and investment climate are a tailwind for his companies' success and encouraged foreign investors to jump in too.
  
  Read more

• Mauritius economy to expand 5.3 pct in 2015/2016 fiscal year: Finance Minister

  23-03-2015 14:55 via news.yahoo.com
  
  NAIROBI (Reuters) - Mauritius' economy will grow by 5.3 percent in the 2015/2016 (July-June) fiscal year, the finance minister said on Monday, higher than an estimated 3.5 percent expansion in the year 2014 (Jan-Dec). Mauritius' fiscal year has previously ran from January to December, but the Indian Ocean island state said it would change its annual budget from this year, to run from July to June.
  
  Read more

• Secured creditors of Espirito Santo Dubai unit to get 82.7 pct payout

  23-03-2015 14:55
  DUBAI, March 23 (Reuters) - Liquidators for ES Bankers
  (Dubai) Ltd (ESBD) have estimated they will pay out 82.7 percent
  of the $93.5 million owed to depositors in the stricken bank,
  advisory firm...
  
  Read more

• US stock indexes start mixed following strong week

  23-03-2015 14:41 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stock market indexes are mixed in early trading following a strong performance last week.
  
  Read more

• Tanzania's current account deficit narrows 4.7 pct in year to Jan

  23-03-2015 14:36 via news.yahoo.com
  
  DAR ES SALAAM (Reuters) - Tanzania's current account deficit narrowed 4.7 percent in the year to January, after exports of manufactured goods and tourism earnings increased, the central bank said on Monday.     The deficit narrowed to $4.822 billion in the 12 months to January from $5.059 billion in the same period in 2014, the Bank of Tanzania said in its latest monthly economic report.     "The improvement was mainly attributed to an increase in exports of goods and services as
  
  Read more

• Obama to host Japan's Abe for state visit in April: White House

  23-03-2015 14:34 via news.yahoo.com
  
  U.S. President Barack Obama will host Japanese Prime Minister Shinzo Abe at the White House for a state visit next month as part of Abe's eight-day visit to the United States, officials said on Monday. Abe will go to the White House on April 28 for meetings with Obama on a range of economic and security issues as well as a formal state dinner, the White House said in a statement. Obama and Abe will discuss a number of global topics, "including progress on the Trans Pacific Partnership,
  
  Read more

Follow @FinanceUSA_News on Twitter!