Finance news

• CORRECTED-(OFFICIAL)-YOUR PRACTICE-U.S. healthcare software triggers client reality check

  27-03-2015 23:58
  March 27 (Reuters) - Brokerages are rolling out software to help financial advisers with a challenge that can seem like fortune-telling: projecting clients' retirement health care costs.
  
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• UPDATE 3-Intel in talks to buy Altera, shares of firms surge

  27-03-2015 23:54
  March 27 (Reuters) - Intel Corp is in talks to buy fellow chipmaker Altera Corp in a deal likely to top $10 billion, according to a source familiar with the matter, making it Intel's biggest purchase...
  
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• Former Yahoo CFO on Pao trial: Most women I know, including me, face sexism at work

  27-03-2015 23:51 via news.yahoo.com
  
  Wikimedia Commons Sue Decker, a former Yahoo exec and Wall Street analyst, says she’s been “obsessed” with the Ellen Pao trial. Decker’s storied career, which included being CFO during Yahoo’s heyday, has turned her into a Valley powerhouse. She currently sits on the boards of a bunch of powerful companies including Intel, Costco, and Berkshire Hathaway. She’s been watching the trial so closely, that she attended the closing arguments in person yesterday, pulling her daughters out of
  
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• UPDATE 1-Argentina raises 5 bln pesos in local debt auction

  27-03-2015 23:39
  BUENOS AIRES, March 27 (Reuters) - Argentina raised 5 billion pesos($567.5 million) in an oversubscribed sale of 12-month and 18-month local peso-denominated debt on Friday, the economy ministry...
  
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• UPDATE 1-FDA rejects Adamis injection for treating acute allergies

  27-03-2015 23:30
  March 27 (Reuters) - The United States Food and Drug Administration rejected Adamis Pharmaceuticals Corp's injection for treating severe allergic reactions, the company said.
  
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• Argentina says raises 5 bln pesos in local debt sale

  27-03-2015 23:22
  BUENOS AIRES, March 27 (Reuters) - Argentina raised 5 billion pesos ($567.5 million)in a sale of 12-month and 18-month local peso-denominated debt on Friday, the economy ministry said.
  
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• UPDATE 2-Fed's Yellen sees gradual rate hikes starting this year

  27-03-2015 23:00
  * Yellen outlines case for 'gradualist approach' to rate hikes
  
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• UPDATE 1-California governor signs $1 bln emergency drought package

  27-03-2015 22:42
  SAN FRANCISCO, March 27 (Reuters) - California Governor Jerry Brown signed emergency legislation on Friday that fast-tracks over $1 billion in funding for drought relief and water infrastructure...
  
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• UPDATE 3-NYC mayor says possibility gas line wrongly tapped before blast

  27-03-2015 22:39
  NEW YORK, March 27 (Reuters) - Workers may have "inappropriately" tapped into a gas line before a devastating explosion in New York City that destroyed buildings, injured 22 people and left at least...
  
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• Oil market jumps on Yemen unrest

  27-03-2015 22:28 via news.yahoo.com
  
  World oil prices rose sharply this week as Saudi Arabian jets struck rebel targets in Yemen, sparking fresh supply fears in the crude-rich Middle East. Many commodities were also buoyed as weak US data sent the dollar sliding, denting confidence in the world's top economy and throwing into question the timeline for a long-awaited Federal Reserve interest rate hike. OIL: Prices rallied on Wednesday and Thursday after a Saudi Arabia-led coalition bombed Huthi Shiite rebels in support of Yemen
  
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• BNDES cuts Brazil 2015-2018 oil-sector investment outlook 30 pct

  27-03-2015 22:27
  RIO DE JANEIRO, March 27 (Reuters) - Brazil's state development bank BNDES said on Friday it cut its outlook for 2015-2018 oil and natural-gas sector investment by nearly 30 percent to 360 billion...
  
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• Madison Square Garden to spin off sports and entertainment business

  27-03-2015 22:22
  (Reuters) - Madison Square Garden Co, which owns the New York Knicks and New York Rangers, said it would spin off its sports and entertainment business into a publicly traded company.
  
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• Chipmaker deal helps Wall St. rebound, oil slumps anew

  27-03-2015 22:20 via news.yahoo.com
  
  NEW YORK (Reuters) - Wall Street on Friday closed higher for the first time in a week, lifted by rising tech stocks, while oil prices slumped 5 percent on receding fears about Middle East fighting disrupting supplies.
  
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• GLOBAL MARKETS-Chipmaker deal helps Wall St rebound, oil slumps anew

  27-03-2015 22:19
  NEW YORK, March 27 (Reuters) - Wall Street on Friday closed higher for the first time in a week, lifted by rising tech stocks, while oil prices slumped 5 percent on receding fears about Middle East...
  
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• Fitch Downgrades Greece's IDRs to 'CCC'

  27-03-2015 22:12
  (The following statement was released by the rating agency) LONDON, March 27 (Fitch) Fitch Ratings has downgraded Greece's Long-term foreign- and local currency Issuer Default Ratings (IDRs) to 'CCC'...
  
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• Fitch Affirms Portugal at 'BB+'; Outlook Positive

  27-03-2015 22:11
  (The following statement was released by the rating agency) LONDON, March 27 (Fitch) Fitch Ratings has affirmed Portugal's Long-term foreign and local currency Issuer Default Rating (IDRs) at 'BB+'....
  
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• Intel in talks to buy Altera, shares of firms jump: WSJ report

  27-03-2015 22:03 via news.yahoo.com
  
  (Reuters) - Intel Corp is in talks to buy fellow chipmaker Altera Corp in a deal likely to top $10 billion, making it Intel's biggest purchase and the latest merger in the quickly consolidating semiconductor sector, the Wall Street Journal reported on Friday. An acquisition of Altera, which makes programmable chips widely used in cellphone towers, the military and other industrial applications, would underscore Intel Chief Executive Officer Brian Krzanich's determination to expand into
  
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• Pay for top Charles Schwab Corp execs fell 5-10 percent in 2014

  27-03-2015 21:39
  NEW YORK (Reuters) - Walter Bettinger, president and chief executive of Charles Schwab Corp, earned $11.8 million in cash, options and restricted stock awards in 2014, 7 percent below the $12.7...
  
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• Stocks close with slight gains, but still end the week lower

  27-03-2015 21:30 via news.yahoo.com
  
  NEW YORK (AP) — A tough week on the stock market ended quietly Friday.
  
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• US stocks snap 4-day slide

  27-03-2015 21:28 via news.yahoo.com
  
  New York (AFP) - Wall Street stocks rose Friday, snapping a four-day losing streak as traders shrugged off weaker-than-expected US economic growth in the fourth quarter.
  
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• UPDATE 3-Southern Copper hit by conflicting remarks on Peru mine's future

  27-03-2015 21:16
  * Southern Copper CEO, Grupo Mexico say Tia Maria going ahead
  
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• Intel in talks to buy Altera -WSJ report

  27-03-2015 21:15 via news.yahoo.com
  
  (Reuters) - Intel Corp is in talks to buy fellow chipmaker Altera Corp in a deal that would likely top $10 billion (6.7 billion pounds), marking the latest merger in the semiconductor business, the Wall Street Journal reported on Friday. An acquisition of Altera, which makes programmable chips widely used in cellphone towers, the military and other industrial applications, underscores Intel Chief Executive Officer Brian Krzanich's determination to expand into new markets as the personal com
  
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• Italy won't intervene in Pirelli deal with ChemChina - minister

  27-03-2015 21:02
  
  MILAN (Reuters) - The Italian government cannot intervene in ChemChina's takeover of Italian tyre maker Pirelliand believes the deal agreed on Sunday ensures that key management positions and...
  
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• Intel in talks to buy Altera: WSJ

  27-03-2015 20:54 via news.yahoo.com
  
  (Reuters) - Chipmaker Intel Corp is in talks to buy Altera Corp , the Wall Street Journal said, citing people familiar with the matter. Terms of the potenti...
  
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• UPDATE 1-Lender says will make 'significant' new bid for RadioShack

  27-03-2015 20:53
  WILMINGTON, Del, March 27 (Reuters) - A lender to bankrupt
  RadioShack Corp told a U.S. judge on Friday it was
  prepared to present a new offer that was a "significant
  improvement" over a rival...
  
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• Yellen: A rate increase may be warranted later this year

  27-03-2015 20:47 via news.yahoo.com
  
  WASHINGTON (AP) — Federal Reserve Chair Janet Yellen says continued improvement in the U.S. economy means an increase in the Fed's key interest rate could come later this year.
  
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• Google to pay CFO Porat more than $70 million

  27-03-2015 20:38
  
  (This March 26th story has been corrected to remove 'in the next two years' from headline and first paragraph)
  
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• Lender says to make 'significant' new bid for RadioShack

  27-03-2015 20:17
  WILMINGTON, Del, March 27 (Reuters) - A lender to bankrupt
  RadioShack Corp told a U.S. judge on Friday it was
  prepared to present a new offer that was a "significant
  improvement" over a rival...
  
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• Dow Chemical to sell most chlorine assets in $5 billion deal

  27-03-2015 19:50
  (Reuters) - Dow Chemical Cowill separate a portion of its century-old chlorine business and sell it to Olin Corpin a tax-efficient deal worth $5 billion as part of efforts to shed low-margin...
  
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• UPDATE 4-Dow Chemical to sell most chlorine assets in $5 bln deal

  27-03-2015 19:46
  * Dow shares up 5 pct; Olin up 25 pct (Adds Breakingviews link, updates share prices)
  
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• Exclusive: Yoox and Net-a-Porter in merger talks again - sources

  27-03-2015 19:29
  PARIS (Reuters) - Online fashion retailers Yoox and Richemont's Net-a-Porter are trying to resuscitate merger talks that took place more than a year ago to better fight cut-throat competition,...
  
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• Fed weighs insurers' proposal for new capital rules

  27-03-2015 19:20 via news.yahoo.com
  
  By Douwe Miedema WASHINGTON (Reuters) - The U.S. Federal Reserve is considering a proposal from life insurers that could delay the implementation of a costly nationwide capital framework for the $1 trillion industry, according to records of a recent meeting between the two sides seen by Reuters and people familiar with the matter. More than a dozen senior insurance executives met Fed Governor Dan Tarullo on Feb. 6 to pitch a two-step process for launching nationwide insurance rules, according to
  
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• Global shares up at end of down week, oil prices retreat

  27-03-2015 19:06 via news.yahoo.com
  
  Wall Street and European stocks edged ahead on Friday but remained en route to a losing week while U.S. Treasury debt prices jumped on government data indicating U.S. economic growth was slowing. Brent oil fell below $50 a barrel after Thursday's spike on Saudi-led air attacks in Yemen, and the dollar was down. Investors awaited a speech on monetary policy on Friday by Federal Reserve Chair Janet Yellen that may contain hints on when U.S. interest rates may be increased. Wall Street's
  
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• Greek reforms will put economy on track: Athens

  27-03-2015 18:53 via news.yahoo.com
  
  Greece said Friday the reform proposals it will soon present to its creditors will put the country's economy on track without the pain of austerity. A government document said the proposals, to be finalised by technical experts this weekend, would bring in 3.0 billion euros ($3.2 billion) in revenue, without resorting to wage and pension cuts. The measures would also see the crisis-hit Greek economy grow by 1.4 percent this year, the document said. Greek experts "will go to Brussels to
  
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• Greece, Yemen keeps European stocks jittery

  27-03-2015 18:44 via news.yahoo.com
  
  Europe's main stock markets diverged Friday as dealers awaited news on a deal over Greece's finances next week, while also tracking unrest in Yemen. London's benchmark FTSE 100 index ended the day down 0.58 percent at 6,855.02 points. "On Friday, shares in Europe extended the recovery started a day earlier as concerns over the situation in Yemen eased but are nevertheless still looking at one of the worst weeks of 2015," said analyst Jasper Lawler at CMC Markets.
  
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• Shares up at end of down week, oil prices retreat

  27-03-2015 18:35 via news.yahoo.com
  
  By Michael Connor NEW YORK (Reuters) - Wall Street and European stocks edged ahead on Friday but remained en route to a losing week while U.S. Treasury debt prices jumped on government data indicating U.S. economic growth was slowing. Brent oil fell below $50 a barrel after Thursday's spike on Saudi-led air attacks in Yemen, and the dollar was down. Investors awaited a speech on monetary policy on Friday by Federal Reserve Chair Janet Yellen that may contain hints on when U.S. interest rate
  
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• Baker Hughes, Halliburton shareholders approve merger

  27-03-2015 18:19
  
  (Reuters) - Shareholders on Friday voted to approve the mergers of rival oilfield services firms Baker Hughes Inc and Halliburton, bringing the proposed deal that still lacks regulatory approvals a...
  
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• U.S. Fed weighs insurers' proposal for new capital rules

  27-03-2015 18:13 via news.yahoo.com
  
  By Douwe Miedema WASHINGTON (Reuters) - The U.S. Federal Reserve is considering a proposal from life insurers that could delay the implementation of a costly nationwide capital framework for the $1 trillion industry, according to records of a recent meeting between the two sides seen by Reuters and people familiar with the matter. More than a dozen senior insurance executives met Fed Governor Dan Tarullo on Feb. 6 to pitch a two-step process for launching nationwide insurance rules, according to
  
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• Dodd-Frank co-author disappointed on pay votes, cites fund managers

  27-03-2015 18:10
  BOSTON (Reuters) - An architect of the shareholder votes companies hold on executive compensation said he is "disappointed" they have not led to more changes, noting that wealthy mutual fund company...
  
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• N.Y. broker-dealer execs get prison time for Venezuelan bribe scheme

  27-03-2015 18:07 via news.yahoo.com
  
  By Nate Raymond NEW YORK (Reuters) - Two former executives of a defunct Wall Street broker-dealer were sentenced to prison on Friday for participating in a scheme to pay $5 million in bribes to an official at a Venezuelan state economic development bank in exchange for business. Benito Chinea, the former chief executive officer of Direct Access Partners LLC, and Joseph DeMeneses, a managing director at the firm, were each sentenced by U.S. District Judge Denise Cote in Manhattan to four years in
  
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• Brazil stagnates in 2014, recession looms for 2015

  27-03-2015 18:04 via news.yahoo.com
  
  Hosting the World Cup in June and July and gearing up for the Olympics next year failed to reverse the drag of rising inflation, a ballooning deficit and a $4-billion kickbacks scandal at state oil giant Petrobras that has tarnished Brazil's largest company and President Dilma Rousseff's party. Rousseff has never managed to match the blistering 7.6-percent GDP growth Brazil posted in 2010, the last year in office of her charismatic predecessor and mentor, Luiz Inacio Lula da Silva. &qu
  
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• UK's FTSE ends week with a whimper as commodity stocks fall

  27-03-2015 17:58
  LONDON, March 27 (Reuters) - Britain's main equity index fell for a fourth day on Friday, pulled down by commodity stocks as iron ore prices plunged and as a stronger U.S. dollar weighed on mining...
  
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• Stock funds worldwide see biggest outflows in seven weeks: BofA

  27-03-2015 17:44
  NEW YORK (Reuters) - Investors around the world pulled over $6 billion from stock funds in the week ended March 25, the biggest withdrawals in seven weeks, data from a Bank of America Merrill Lynch...
  
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• Citadel Securities to close Apogee 'dark pool': sources

  27-03-2015 17:35
  NEW YORK (Reuters) - Citadel Securities, a top market maker in U.S. stocks and listed options, plans to shutter its Apogee "dark pool" to focus on another of its off-exchange stock trading venues...
  
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• Puerto Rico's utility creditor meeting to extend through weekend

  27-03-2015 17:31
  NEW YORK, March 27 (Reuters) - Negotiations between Puerto
  Rico's electric power authority PREPA and its creditors, aimed
  at avoiding a potentially messy default, will likely continue
  over the...
  
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• Asian banks to step up capital calls

  27-03-2015 17:16
  LONDON, March 27 (IFR) - Bankers are preparing for an
  onslaught of bank capital offerings from Asian financial
  institutions, as the first international issue of the year from
  China looms large.
  
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• Edmond de Rothschild names Eric Coutts UK CEO

  27-03-2015 17:15
  (Reuters) - Asset management firm Edmond de Rothschild Group appointed Eric Coutts as chief executive officer of its UK business, effective April 1.
  
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• UPDATE 2-Carnival profit beats as onboard spending rises, fuel costs fall

  27-03-2015 17:12
  * Shares rise as much as 7 pct (Adds details from conference call, analyst comment; updates shares)
  
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• Two get Yankee CoCo ball rolling

  27-03-2015 17:11
  NEW YORK, March 27 (IFR) - Yankee European bank CoCos and
  bond issuance to meet total loss absorbing capital regulations
  finally got going in the US dollar market this week.
  
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• UPDATE 3-Ohr Pharma's eye drug fails mid-stage study, shares plunge

  27-03-2015 17:11
  * Drug tested in combination with Roche's Lucentis in wet-AMD
  
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