Finance news

• Canada budget economists see 2015 growth at 2 percent: survey

  08-04-2015 23:56 via news.yahoo.com
  
  By Leah Schnurr OTTAWA (Reuters) - Canadian economists who provide the growth forecasts that will be used by the federal government in its April 21 budget see the economy expanding by 2 percent this year as the price of oil stabilizes, according to a Reuters survey. The Canadian government has used the average of private sector growth projections as a basis for fiscal planning since 1994, with the forecast potentially making the difference between a deficit or surplus. The 2 percent growth rate
  
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• France cuts 2016, 2017 growth forecasts

  08-04-2015 23:36 via news.yahoo.com
  
  France's economy will expand at a slower rate than earlier thought in 2016 and 2017, the finance ministry said in new forecasts published Wednesday.
  
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• In Indonesia, a power plant impasse and a faltering president

  08-04-2015 23:02 via news.yahoo.com
  
  By Fergus Jensen and Michael Taylor PONOWARENG, Indonesia/JAKARTA (Reuters) - Indonesia announced with great fanfare in 2011 that it would build Southeast Asia's biggest coal-fired power plant on the island of Java, but the $4 billion project is yet to be launched and President Joko Widodo is on the horns of a dilemma. There is no sign yet of what Widodo will do about the coal plant in the Batang region of Java. "There are political pressures dragging down the economic reforms," said a senior of
  
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• Stocks edge higher as health care gains on deal news

  08-04-2015 22:52 via news.yahoo.com
  
  NEW YORK (AP) — Deal news gave the stock market a lift Wednesday.
  
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• Living with low economic growth

  08-04-2015 22:44
  NEW YORK (Reuters) - Investors worried about the International Monetary Fund’s prediction of an extended era of lousy economic growth should probably relax and take a deep breath.
  
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• New poll in Cuba shows strong support for improved U.S. ties

  08-04-2015 22:36 via news.yahoo.com
  
  A new poll conducted in Cuba found that 80 percent of Cubans have a highly favorable view of President Barack Obama, while 97 percent feel that the re-establishment of diplomatic relations with the United States will be good for Cuba. The opinion survey released Wednesday is the most extensive conducted inside Cuba by an independent research firm since 1959, according to its sponsors, Miami-based Spanish language network Univision News and The Washington Post newspaper. It is also the first stud
  
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• Wall Street ends with modest gains after Fed minutes

  08-04-2015 22:32 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - U.S. stocks ended a volatile session with modest gains on Wednesday after minutes from a U.S. Federal Reserve meeting indicated that the central bank remained on track for a interest rate hike this year. After the market closed, Alcoa Inc reported first-quarter revenue that was below expectations.
  
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• Fed split on timing of interest-rate hike

  08-04-2015 22:24 via news.yahoo.com
  
  The Federal Reserve was split at its last policy meeting on when to raise ultra-low US interest rates, with timing ranging from June to 2016, according to minutes released Wednesday. "Several participants judged that the economic data and outlook were likely to warrant beginning normalization at the June meeting," said the report on the March 17-18 meeting of the Federal Open Market Committee, the central bank's policy arm. Given the fall in energy prices and the stronger dollar,
  
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• Hedge funds return 2.4 percent in first quarter, beating broad stock index - HFR

  08-04-2015 22:17 via news.yahoo.com
  
  The average hedge fund climbed 2.4 percent during the first quarter, handily beating the broader stock market, according to industry data released on Wednesday and giving the exclusive industry a dose of good news after months of lacklustre returns. Hedge Fund Research, an industry tracking firm, reported that the HFRI Fund Weighted Composite Index gained 0.5 percent in March, leaving it up 2.4 percent for the first three months of the year. This year only short-sellers, hedge funds that bet exc
  
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• Hedge funds return 2.4 pct in Q1, beating broad stock index: HFR

  08-04-2015 22:16
  BOSTON (Reuters) - The average hedge fund climbed 2.4 percent during the first quarter, handily beating the broader stock market, according to industry data released on Wednesday and giving the...
  
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• Airbus eyes new seating configurations as economy traffic booms

  08-04-2015 22:15 via news.yahoo.com
  
  PARIS/BERLIN (Reuters) - Airbus plans to offer airlines more choice in the way they configure their planes, and sees carriers opting for different levels of comfort and seating within the economy cabin of their planes, a senior Airbus executive said on Wednesday. The planemaker also plans to redefine its wide-body jets, based on a standard layout of three classes - business, premium economy, and economy, Chris Emerson, head of marketing at Airbus, told Reuters in a telephone interview. Airbus no
  
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• U.S. money fund outflow slows in latest week

  08-04-2015 21:20
  NEW YORK (Reuters) - U.S. money market funds had slower withdrawals in the latest week after booking their biggest outflow in nearly 1-1/2 years the previous week, the Money Fund Report said on...
  
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• U.S.-based bond funds post first outflows in 12 weeks: ICI

  08-04-2015 21:18
  NEW YORK (Reuters) - Investors in U.S.-based mutual funds pulled $1.3 billion out of bond funds in the week ended April 1 as tax deadlines approached for retail investors, data from the Investment...
  
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• Fed officials say June rate hike still in play, hinges on data

  08-04-2015 21:15 via news.yahoo.com
  
  The Federal Reserve could still hike interest rates in June despite weak recent U.S. data and investor skepticism, two influential officials with the central bank said on Wednesday, putting the spotlight squarely on the economy's performance in the next two months. Disappointing U.S. jobs growth, manufacturing activity, and retail sales over the winter had pushed market expectations for a rate hike to later in the year. June has long been seen as the earliest the Fed could tighten policy, a
  
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• Wall Street rises in volatile trading after Fed minutes

  08-04-2015 20:56 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - U.S. stocks rose on Wednesday, but trading was volatile following the release of minutes from the U.S. Federal Reserve that indicated the central bank remained on track for a rate hike this year. Major indexes initially fell after the release, as several Fed participants went on record saying they expected upcoming economic data would warrant an initial rate increase in June, which would be sooner than currently expected. "Recent comments suggested th
  
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• Wall St rises in volatile trading after Fed minutes

  08-04-2015 20:56 via news.yahoo.com
  
  U.S. stocks rose on Wednesday, but trading was volatile following the release of minutes from the U.S. Federal Reserve that indicated the central bank remained on track for a rate hike this year. Major indexes initially fell after the release, as several Fed participants went on record saying they expected upcoming economic data would warrant an initial rate increase in June, which would be sooner than currently expected. "Recent comments suggested that the Fed was moving more towards Septe
  
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• 'Several' Fed officials saw June for rate hike: report

  08-04-2015 20:45 via news.yahoo.com
  
  Federal Reserve policymakers were split at their last meeting on when to raise ultra-low interest rates, with liftoff ranging from June to 2016, minutes to the meeting showed Wednesday. "Several" participants at the Federal Open Market Committee meeting on March 17 and 18 judged that the economic conditions and outlook would be favorable for a rate hike later in the year. Others deemed the circumstances would be right later in the year, while "a couple" of officials said lift
  
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• What to Watch in the Day Ahead - Thursday, April 9

  08-04-2015 20:43
  (The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users...
  
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• UPDATE 1-Brazil Congress leaders pledge to back Rousseff's austerity push

  08-04-2015 20:27
  BRASILIA, April 8 (Reuters) - Brazilian congressional leaders within President Dilma Rousseff's coalition signed a joint letter on Wednesday pledging to support her austerity package, an unexpected...
  
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• Stocks flat as investors wait on earnings, assess Fed notes

  08-04-2015 20:25 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks remained slightly higher Wednesday afternoon as investors assessed minutes from the latest Federal Reserve meeting. They were also waiting for companies to start reporting their first-quarter earnings.
  
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• UPDATE 1-Pawn to cushion payday lenders from regulatory blow

  08-04-2015 20:15
  April 8 (Reuters) - Payday lenders that have substantial pawn operations are better positioned to absorb the blow from proposed U.S. regulations aimed at cracking down on an industry that has been...
  
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• REFILE-Apple faces local battles as it prepares global payments push

  08-04-2015 20:14
  * Apple Pay global expansion slowed by local payment differences
  
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• Excerpt on policy from March 17-18 FOMC minutes

  08-04-2015 20:11 via news.yahoo.com
  
  "In their discussion of monetary policy for the period ahead, members judged that information received since the FOMC met in January indicated that economic growth had moderated somewhat.
  
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• REFILE-UPDATE 8-Shell challenges Exxon dominance with $70 bln bid for BG

  08-04-2015 20:06
  * BG developing ambitious projects in Brazil, Australia and Egypt
  
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• SPOT GOLD EXTENDS LOSSES AFTER FED MINUTES, DOWN 0.6 PCT AT $1,200.81/OZ

  08-04-2015 20:05
  SPOT GOLD EXTENDS LOSSES AFTER FED MINUTES, DOWN 0.6 PCT AT $1,200.81/OZ
  
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• Fed looked past weakness to press ahead on rate hike plan

  08-04-2015 20:02 via news.yahoo.com
  
  U.S. Federal Reserve officials acknowledged risks from overseas and a weak start to the year at their March meeting but remained confident enough in the strength of the recovery to continue laying the groundwork for an interest rate hike later this year, according to minutes from the meeting released on Wednesday. The meeting concluded with the Fed opening the door to a June rate hike, and the minutes said that "several participants" went on record saying they expected upcoming economi
  
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• Fed mulls selling bonds to potentially trim repo use -minutes

  08-04-2015 20:00
  NEW YORK, April 8 (Reuters) - Federal Reserve officials are considering selling short-term bonds if, after they tighten U.S. monetary policy, it becomes necessary to trim usage of a new tool they...
  
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• U.S. FCC imposes $25 mln fine on AT&T over customer data breach

  08-04-2015 19:55
  NEW YORK, April 8 (Reuters) - The Federal Communications Commission reached a $25 million settlement with AT&T Inc over a consumer data breach at call centers in Mexico, Colombia and the Philippines,...
  
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• UPDATE 2-Brazil state lender Caixa wants insurance unit IPO this year

  08-04-2015 19:49
  BRASILIA/RIO DE JANEIRO, April 8 (Reuters) - Brazilian lender Caixa Econômica Federal plans to list its insurance unit this year on the São Paulo Stock Exchange, Finance Minister Joaquim Levy said on...
  
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• UPDATE 2-Generic drugmaker Mylan offers $29 billion for Perrigo

  08-04-2015 19:43
  April 8 (Reuters) - Generic drugmaker Mylan NV said on Wednesday it has offered to buy Perrigo Co Plc for about $29 billion in a deal that would make Mylan a major player in over-the-counter consumer...
  
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• Russia may give Greece pre-payment of profits from future gas pipeline project - Greek official

  08-04-2015 19:41
  MOSCOW, April 8 (Reuters) - Russia is considering soon giving Greece funds based on future profits Athens would earn from shipping Russian gas to Europe as part of an extension of the Turkish Stream...
  
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• Energy security, goodwill top Obama agenda in Jamaica visit

  08-04-2015 19:40 via news.yahoo.com
  
  KINGSTON, Jamaica (AP) — President Barack Obama's visit to Jamaica is weighted with U.S. self-interest as Caribbean nations seek to reduce their dependence on subsidized oil from economically struggling Venezuela and as China establishes an economic foothold in the region.
  
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• Brazil's Congress leaders sign letter backing Rousseff's fiscal drive

  08-04-2015 19:35
  BRASILIA, April 8 (Reuters) - Brazilian congressional leaders within President Dilma Rousseff's government coalition signed a joint letter on Wednesday pledging to support austerity measures and...
  
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• Bitcoin exchange Coinsetter acquires Canadian platform

  08-04-2015 19:31
  NEW YORK, April 8 (Reuters) - Coinsetter, a New York-based bitcoin exchange that targets institutional and professional traders, said on Wednesday it has acquired Canadian Virtual Exchange, a bitcoin...
  
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• Greek PM gets support, not money from Putin

  08-04-2015 19:24 via news.yahoo.com
  
  By Denis Pinchuk and Renee Maltezou MOSCOW (Reuters) - Russian President Vladimir Putin offered Greek Prime Minister Alexis Tsipras moral support and long-term cooperation but no financial aid on Wednesday, leaving Athens to fend for itself in resolving urgent debt problems with Western creditors. The leftist-led Greek government, at loggerheads with its euro zone and International Monetary Fund creditors, risks running out of money within weeks unless it can reach a new cash-for-reform deal. &q
  
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• WRAPUP 1-Greek PM gets support, not money from Putin

  08-04-2015 19:21
  MOSCOW, April 8 (Reuters) - Russian President Vladimir Putin offered Greek Prime Minister Alexis Tsipras moral support and long-term cooperation but no financial aid on Wednesday, leaving Athens to...
  
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• U.S. stocks' volatility expectations muted ahead of earnings

  08-04-2015 19:19 via news.yahoo.com
  
  Earnings reporting seasons are typically choppy periods for stocks, but the number of S&P 500 companies expected to see a jump in volatility is lower than where it stood a year ago or even at the same point in 2013, according to a Reuters analysis of options data. Investors' calm can be explained by the already drastic downward revisions in earnings expectations thanks to the strong dollar, a tepid macro environment and - for the energy sector - lower oil prices. Of the 350-or-so S&
  
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• UPDATE 1-Hillary Clinton hires Google executive as tech chief

  08-04-2015 19:16
  WASHINGTON, April 8 (Reuters) - Likely 2016 Democratic U.S. presidential candidate Hillary Clinton has hired a Google executive to serve as her chief technology officer, a person familiar with the...
  
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• UPDATE 2-Argentina sues Citibank over deal with holdout creditors

  08-04-2015 19:16
  BUENOS AIRES, April 8 (Reuters) - Argentina is suing Citibank Argentina for striking a deal with a group of U.S. creditors fighting the government over unpaid debt, its economy minister said on...
  
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• U.S. sells 10-year notes at lowest yield in 2 years

  08-04-2015 19:14
  NEW YORK, April 8 (Reuters) - The U.S. government on Wednesday sold $21 billion of 10-year note supply at a yield of 1.925 percent, which was the lowest since May 2013, Treasury data showed.
  
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• Wall St. ticks up on M&A but energy weighs as crude drops

  08-04-2015 19:13 via news.yahoo.com
  
  U.S. stocks rose on Wednesday on merger activity in the healthcare sector even as energy stocks sold off after a large buildup in crude stockpiles sent oil futures reeling. Traders are keeping an eye out for the release of minutes from the Federal Open Market Committee's March policy meeting, in which the Fed downgraded its economic growth and inflation projections while leaving the door open to raising rates in the near future. Mylan shares jumped 14.4 percent to $68.15, boosting the Nasda
  
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• ON THE MOVE-Baird hires Michael McHugh as financial adviser from Charles Schwab

  08-04-2015 19:13
  April 8 (Reuters) - Baird, an employee-owned financial services company, hired Michael McHugh from Charles Schwab Corp to be a financial adviser in its Denver wealth management office.
  
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• UPDATE 8-Shell challenges Exxon dominance with $70 bln bid for BG

  08-04-2015 19:12
  * BG developing ambitious projects in Brazil, Australia and Egypt
  
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• June rate hike still in play as Fed officials eye data

  08-04-2015 19:12 via news.yahoo.com
  
  Two influential Federal Reserve officials said they could still hike U.S. interest rates in June despite weak recent economic data and skepticism among investors, putting the spotlight squarely on the economy's performance over the next two months. Disappointing U.S. jobs growth, manufacturing activity, and retail sales over the winter had pushed market expectations for a rate hike to later in the year. June has long been seen as the earliest the Fed could tighten policy, after more than si
  
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• US STOCKS-Wall St ticks up on M&A but energy weighs as crude drops

  08-04-2015 19:12
  * Fed's Dudley keeps June rate hike on the table depending on data
  
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• Europe's stocks down awaiting US rate pointer

  08-04-2015 19:10 via news.yahoo.com
  
  Europe's main stock markets closed down on Wednesday as traders awaited an update on the outlook for US interest rates. London's benchmark FTSE 100 index slid 0.35 percent on the day to 6,937.41 points after earlier showing gains on the back of news that Royal Dutch Shell has agreed to a huge takeover of BG Group. Traders were looking ahead to the 1800 GMT release of minutes of the last interest rate meeting of the US Federal Reserve, with dealers set to pore over them for clues as to
  
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• WRAPUP 1-June rate hike still in play as Fed officials eye U.S. data

  08-04-2015 19:02
  NEW YORK, April 8 (Reuters) - Two influential Federal Reserve officials said they could still hike U.S. interest rates in June despite weak recent economic data and skepticism among investors,...
  
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• Quebec scales back plan to develop its resource-rich north

  08-04-2015 19:01
  MONTREAL, April 8 (Reuters) - The Canadian province of Quebec unveiled a scaled-back version of its long-touted plan to develop its vast, mineral-rich north on Wednesday as corporate interest...
  
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• Energy shares outperform weak European markets after Shell-BG deal

  08-04-2015 18:58
  PARIS, April 8 (Reuters) - European energy shares outperformed other sectors on Wednesday after Royal Dutch Shell's $70 billion bid for BG sparked a rally.
  
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• Canada finance minister to set balanced budget law

  08-04-2015 18:49 via news.yahoo.com
  
  By Alastair Sharp TORONTO (Reuters) - Canadian Finance Minister Joe Oliver announced legislation on Wednesday committing the government to a balanced budget except if there is recession or an "extraordinary circumstance." The bill will fulfill a 2013 pledge by the ruling Conservatives as they head into an October election seeking to portray themselves as the best economic managers. Oliver has pledged to deliver a balanced budget for 2015-16 on April 21 despite the damage to Canada'
  
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