Finance news

• UPDATE 2-U.S. warns Europe against relying too much on exports

  09-04-2015 23:58
  WASHINGTON, April 9 (Reuters) - The United States warned Europe on Thursday against relying too much on exports for growth and urged officials to make more use of fiscal policy, saying stronger...
  
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• UPDATE 1-U.S.-based European stock funds attract $1.5 bln, most in 7 weeks -Lipper

  09-04-2015 23:55
  (Adds quotes from head of Lipper Americas Research, flow details; byline) By Sam Forgione NEW YORK, April 9 (Reuters) - Investors in U.S.-based funds committed $1.5 billion to funds that specialize...
  
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• LatAm credits endure volatile session

  09-04-2015 23:42
  NEW YORK, April 9 (IFR) - Latin American credits experienced a volatile session on Thursday, as currency weakness in many of the region's markets put a damper on the morning's strong performance.
  
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• First Horizon to pay $212.5 mln to settle mortgage-related claims

  09-04-2015 23:38
  April 9 (Reuters) - First Tennessee Bank, the regional bank for First Horizon National Corp, said it would pay $212.5 million to settle claims of mortgage lending violations related to the business...
  
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• UPDATE 1-BCE exec exits after apology for editorial interference

  09-04-2015 23:35
  TORONTO, April 9 (Reuters) - The president of the media unit of BCE Inc, Canada's biggest communications company, parted ways with the company on Thursday with immediate effect, two weeks after he...
  
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• Scotiabank sees opportunities in Pacific Alliance bloc

  09-04-2015 23:24 via news.yahoo.com
  
  By John Tilak OTTAWA (Reuters) - Bank of Nova Scotia expects strong growth this year in the Pacific Alliance markets of Mexico, Peru, Chile and Colombia, and could make acquisitions to bolster its position there, a top executive said on Thursday. "We’re seeing momentum in the international division," Scotiabank Chief Financial Officer Sean McGuckin said in an interview. We’re projecting out stronger growth in our international banking segment as the year progresses." McGuckin
  
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• Canada says private economists see 2015 growth of about 2 percent

  09-04-2015 23:23 via news.yahoo.com
  
  By Leah Schnurr OTTAWA (Reuters) - Private sector economists estimate that Canada's economy will grow at about 2 percent this year and will pick up after that, Finance Minister Joe Oliver said on Thursday. An average of economists' growth forecasts is used as a basis for fiscal planning by the Canadian government. The outlook is usually detailed in the federal budget, which will be released on April 21. The outlook matched a Reuters survey released on Wednesday that showed economists c
  
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• UPDATE 1-Canada says private economists see 2015 growth of about 2 pct

  09-04-2015 23:21
  OTTAWA, April 9 (Reuters) - Private sector economists estimate that Canada's economy will grow at about 2 percent this year and will pick up after that, Finance Minister Joe Oliver said on...
  
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• Citigroup's head of franchise risk, Brian Leach, retiring

  09-04-2015 23:14
  NEW YORK, April 9 (Reuters) - Brian Leach, head of franchise risk and strategy for Citigroup Inc, said on Thursday that he is retiring and does not know what he will do next.
  
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• CANADA FX DEBT-C$ hit by greenback rally as market braces for jobs data

  09-04-2015 23:07
  * Canadian dollar at C$1.2592 or 79.42 U.S. cents * Bond prices mostly higher across the maturity curve By Solarina Ho TORONTO, April 9 (Reuters) - The Canadian dollar weakened against the greenback...
  
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• Brazil, banks seek long-term foreign investments, Levy says

  09-04-2015 23:02
  SAO PAULO, April 9 (Reuters) - The Brazilian government and financial institutions agreed on a number of steps aimed at increasing the flow of credit into capital spending and lure more foreign...
  
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• Dealers expect first Fed rate hike in September - NY Fed survey

  09-04-2015 23:02
  April 9 (Reuters) - U.S. primary dealers now expect the Federal Reserve to begin raising rates in September, rather than in June, according to the New York Fed's latest regular survey.
  
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• INSIGHT-Lovely airport, where are the planes? China's white elephants emerge

  09-04-2015 23:00
  DACHANGSHAN ISLAND, China, April 10 (Reuters) - When officials reopened the airport on the sparsely populated Dachangshan island off China's north-east coast after a $6 million refurbishment in 2008,...
  
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• Bond investors still betting Beijing will save their bacon

  09-04-2015 23:00
  SHANGHAI, April 10 (Reuters) - China's promise to allow more bond defaults so markets can accurately price investment risk is being undermined by the government's own mixed messages, and bond...
  
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• Europe, U.S. shares rise, dollar strengthens

  09-04-2015 22:59 via news.yahoo.com
  
  By David Gaffen NEW YORK (Reuters) - World equity markets rose on Thursday, led by European exchanges after stronger-than-expected German economic figures and Greece's repayment of a 450 million euro loan to the International Monetary Fund. The dollar added to recent gains, on a continued reaction to more hawkish comments from Federal Reserve officials suggesting that a June interest-rate increase could still be a possibility. U.S. bond yields were also higher, after a weak sale of 30-year
  
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• Intel, Altera end takeover talks due to price disagreement: source

  09-04-2015 22:54
  
  (Reuters) - Discussions on a takeover by Intel Corp of smaller chip maker Altera Corp have ended as the companies were unable to agree on price, a person familiar with the matter said, but Altera...
  
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• Cirque du Soleil in advanced deal talks with private equity: sources

  09-04-2015 22:41
  (Reuters) - Cirque du Soleil is in advanced talks with two private equity consortia about selling a majority stake in what is the largest theatrical production company in the world, according to...
  
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• Steve Cohen's Point72 hires head for its training program

  09-04-2015 22:32
  BOSTON (Reuters) - Steven A. Cohen has hired a hedge fund industry veteran to head a new training program designed to pass the billionaire investor's famous stock picking skills to a new generation...
  
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• Wall Street ends up on energy rebound; early earnings weak

  09-04-2015 22:28 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - U.S. stocks closed higher on Thursday, with energy shares leading the advance as crude oil rebounded off a sharp decline, while investors bet that companies would top lowered expectations this earnings season. The market extended its gains in afternoon trading, putting the S&P 500 about 1.3 percent away from its record close.
  
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• Wall Street closes higher as energy shares rebound

  09-04-2015 22:09 via news.yahoo.com
  
  (Reuters) - U.S. stocks closed higher on Thursday, with energy shares leading the advance as crude oil rebounded off a sharp decline, while investors bet that companies would top lowered expectations this earnings season.
  
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• Why are states leaving billions in retiree income on the table?

  09-04-2015 21:47
  
  CHICAGO (Reuters) - Illinois is the national poster child for state budget messes. My home state faces a $7.4 billion general fund deficit and a $12 billion revenue shortfall. One proposed idea for...
  
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• Canada says private economists see 2015 growth of around 2 percent

  09-04-2015 21:38 via news.yahoo.com
  
  OTTAWA (Reuters) - Private sector economists estimate that Canada's economy will grow at about 2 percent this year and will pick up after that, Finance Minister Joe Oliver said on Thursday. Oliver also told reporters the government was closely watching the booming residential real estate market and would take action to calm it down "if necessary." (Reporting by Leah Schnurr, David Ljunggren; Editing by Ted Botha)
  
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• European stocks, boosted by stimulus, hit all-time high

  09-04-2015 21:33 via news.yahoo.com
  
  If you wanted evidence that the economy and the stock market are two different things, look no further than Europe.
  
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• Oil up on Iran, German data, but strong dollar curbs rise

  09-04-2015 21:31 via news.yahoo.com
  
  By Robert Gibbons NEW YORK (Reuters) - Oil prices rose on Thursday on strong German economic data and uncertainty about negotiations on Iran's nuclear program, even as a strong dollar curbed oil's bounce a day after futures tumbled 6 percent. "The German data provided some lift early because it comes even before the expected economic boost from central bank quantitative easing and any sign that an agreement with Iran isn't going to get done is bullish," said Phil Flynn,
  
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• Six Reasons Not To Buy an Apple Watch Just Yet

  09-04-2015 21:30 via news.yahoo.com
  
  The Apple Watch is Apple's first entry into an entirely new product category in about five years, and it’s come under much scrutiny during the process of its development and unveiling. The consensus: The Apple Watch is great — definitely better than most, if not all, of its predecessors — but with some caveats potential buyers should keep in mind. Reviewers like The New York Times's Farhad Manjoo, The Wall Street Journal's Joanna Stern and The Verge's Nilay Patel have extended cautio
  
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• US stocks edge higher as investors assess earnings

  09-04-2015 21:21 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks edged higher Thursday as investors assessed some mixed news on company earnings. Energy stocks rose as oil recouped some of its losses from a big sell-off on Wednesday.
  
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• GE close to selling nearly all its real estate holdings - source

  09-04-2015 21:11 via news.yahoo.com
  
  General Electric Co is nearing a deal to sell practically all of its $30 billion (20 billion pound) real estate assets to a consortium led by Blackstone Group and Wells Fargo & Co , according to a person familiar with the matter. Revenue from the company's real estate business fell 24 percent in 2014, partly due to a decrease in net gains on property sales. Chief Executive Jeff Immelt has said he expects profits from the company's aviation, power & water and other industrial bu
  
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• Italian right-wing leader says Facebook blocks his personal page

  09-04-2015 21:07 via news.yahoo.com
  
  By Isla Binnie ROME (Reuters) - Matteo Salvini, leader of Italy's anti-immigration Northern League party, said on Thursday Facebook had blocked his personal page for 24 hours because he used the word "gipsy" in posts. Salvini, who is trying to establish himself as a contender to lead Italy's fractured opposition against center-left premier Matteo Renzi, frequently lambasts foreigners in an appeal to anti-immigrant sentiment which has grown during three years of economic reces
  
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• UPDATE 1-Canadian oil company to liquidate due to crisis in Yemen

  09-04-2015 20:51
  CALGARY, Alberta, April 9 (Reuters) - Canadian oil and gas
  producer Calvalley Petroleum Inc said on Thursday it
  will liquidate and restructure due to the political crisis in
  Yemen, where it has...
  
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• Costa Rica says invited to join OECD

  09-04-2015 20:35 via news.yahoo.com
  
  San José (AFP) - Costa Rica said Thursday it has been invited to begin the process of joining the Organisation for Economic Cooperation and Development (OECD), a 34-member club of industrialized nations. "It's great news that marks a milestone in our development," said President Luis Guillermo Solis, who has lobbied for membership in the elite group. The small Central American country, which is known for its ecotourism industry and its moves to attract foreign tech companies, wou
  
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• Wall Street edges up as energy rebounds; early earnings weak

  09-04-2015 20:22 via news.yahoo.com
  
  U.S. stocks edged higher on Thursday as a rebound in the price of crude oil lifted energy shares, though strength in the U.S. dollar and uncertainty over the coming earnings season limited the day's gains. Recent economic data has been mixed, with the stronger numbers backing the idea that the Federal Reserve should begin raising interest rates and weak data possibly indicating less economic readiness for a rate hike. Alcoa Inc , whose report is considered the informal start to earnings sea
  
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• Obama touts clean energy in bid to restore U.S. leadership in Caribbean

  09-04-2015 20:05 via news.yahoo.com
  
  By Matt Spetalnick KINGSTON (Reuters) - President Barack Obama met with Jamaica's prime minister on Thursday, announcing a major clean energy partnership ahead of a Caribbean summit where he hopes to reassert U.S. leadership in the region at time when oil-producing Venezuela's economic clout may be receding. The White House used the occasion to announce a major step towards healing its five-decades-old rift with Cuba, saying the State Department has completed a review of whether to rem
  
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• Allianz's El-Erian says Fed will likely hike rates in September

  09-04-2015 19:49 via news.yahoo.com
  
  TORONTO (Reuters) - The U.S. Federal Reserve will likely hike interest rates in September, Allianz chief economic adviser Mohamed El-Erian said on Thursday. "Yes, the Fed will be the first to move. Notwithstanding last Friday's employment report, I think they will start hiking rates in September," El-Erian told a financial audience in Toronto. (Reporting by Solarina Ho; Editing by Chizu Nomiyama)
  
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• Greece to repay IMF, European stocks at seven-year high

  09-04-2015 19:37 via news.yahoo.com
  
  By David Gaffen NEW YORK (Reuters) - World equity markets rose on Thursday, lifted by Greece's repayment of a 450 million euro loan installment to the International Monetary Fund and growing expectations that the U.S. Federal Reserve will not raise interest rates until the latter part of the year. Bond yields spiked after a weak sale of long-dated Treasury securities, while Wall Street was little changed, as investors focused on next week's flood of corporate earnings. European markets
  
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• GLOBAL MARKETS-Greece to repay IMF, European stocks at seven-year high

  09-04-2015 19:36 via news.yahoo.com
  
  World equity markets rose on Thursday, lifted by Greece's repayment of a 450 million euro loan installment to the International Monetary Fund and growing expectations that the U.S. Federal Reserve will not raise interest rates until the latter part of the year. Bond yields spiked after a weak sale of long-dated Treasury securities, while Wall Street was little changed, as investors focused on next week's flood of corporate earnings. European markets ended higher after German industrial output an
  
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• Lavazza sees decision on Carte Noire purchase by end-June

  09-04-2015 19:16
  MILAN (Reuters) - Italy's Lavazza expects a decision on whether it will buy the Carte Noire coffee brand from Mondelez Internationalby the end of June, the coffee maker's Vice President Giuseppe...
  
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• Investors want BG deal to trigger change at Shell

  09-04-2015 19:15
  
  LONDON (Reuters) - When it comes to forecasting the oil price, big companies play their cards very close to their chests.
  
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• BlackRock bullish on emerging markets debt

  09-04-2015 19:10
  
  (Reuters) - BlackRock sees opportunities to invest in emerging markets debt, despite the rising U.S. dollar and an expected increase in U.S. interest rates this year, executives said Thursday.
  
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• Deutsche Wohnen CEO says Conwert bid outcome will be tight

  09-04-2015 19:08
  
  VIENNA (Reuters) - The outcome of Deutsche Wohnen'sbid for at least half of Austrian property group Conwertplus one share will be "tight" when the offer runs out next week, the German company's...
  
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• SEC panel to call for better Wall Street disciplinary database

  09-04-2015 19:06
  
  WASHINGTON (Reuters) - A panel of investor advocates said on Thursday they were developing a proposal for U.S. securities regulators that will make it easier for retail investors to conduct online...
  
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• Automatic trading brings growing risks to U.S. bond market: TMPG

  09-04-2015 19:05
  NEW YORK (Reuters) - The increasing role of computerized trading in the U.S. bond market has boosted the risk to U.S. Treasuries trade, potentially causing more turmoil like the wild price swing that...
  
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• Jefferies exits commodities brokerage with Bache book sale

  09-04-2015 18:56
  (Reuters) - Jefferies Group LLC [JGLL.UL] said it will sell most of its Bache unit's commodities and financial derivatives accounts to Societe Generale , ending the investment bank's four-year foray...
  
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• Wall St little changed with data, earnings eyed

  09-04-2015 18:56 via news.yahoo.com
  
  U.S. stocks were little changed in choppy trading on Thursday after initial jobless claims data rose less than expected, suggesting an abrupt slowdown in job growth in March could be temporary. The market has lately struggled to digest a mixed bag of economic data, with strong numbers backing the idea that the Federal Reserve should begin raising interest rates, and weak data possibly indicating fragile growth and less economic readiness for a rate rise. The market was struggling to find directi
  
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• Wall Street little changed with data, earnings eyed

  09-04-2015 18:52 via news.yahoo.com
  
  The market has lately struggled to digest a mixed bag of economic data, with strong numbers backing the idea that the Federal Reserve should begin raising interest rates, and weak data possibly indicating fragile growth and less economic readiness for a rate rise. The market was struggling to find direction as investors are caught between the angst of losing the support Fed policy has given the market and having few other options regarding where to put their money, said Tim Rudderow, president a
  
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• Spain defends EU sanctions on Russia over Ukraine

  09-04-2015 18:47 via news.yahoo.com
  
  Spain on Thursday defended EU sanctions on Russia over Ukraine, rejecting repeated criticism of the measures by Greek Prime Minister Alexis Tsipras. During a joint news conference with Russian President Vladimir Putin in Moscow on Wednesday, Tsipras said the European Union needed "to leave behind this vicious cycle of sanctions". The 28-nation bloc slapped economic sanctions on Moscow in July 2014 over its perceived support for pro-Russian separatist forces in Ukraine.
  
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• Democrat seeking Senate seat swears off Wall Street cash

  09-04-2015 18:46 via news.yahoo.com
  
  By Emily Flitter NEW YORK (Reuters) - A Democratic candidate for the U.S. Senate, Donna Edwards, pledged on Thursday to swear off all campaign donations from Wall Street banks, the latest Democrat to assail big financial institutions. Edwards, who sits in the U.S. House of Representatives, is vying for the Democratic nomination in Maryland along with fellow Representative Chris Van Hollen. She said she was "outraged" by a Reuters report that major Wall Street banks had met to discuss ways to urg
  
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• Fidelity CEO taps personal fortune for bets on cancer-related IPOs

  09-04-2015 18:45 via news.yahoo.com
  
  By Tim McLaughlin BOSTON (Reuters) - Fidelity Investments Chief Executive Officer Abigail Johnson is betting part of her personal fortune on several companies developing cancer treatments, including three that have recently announced plans for initial public offerings. In recent months, biopharmaceutical investments made on behalf of the 53-year-old billionaire and her siblings either have surged in value or have advanced further toward their stock market debuts. Johnson has made her investments
  
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• Bill Gross's fund posts inflow of $10.2 million in March, reversing withdrawals

  09-04-2015 18:37
  NEW YORK (Reuters) - Investors put $10.2 million into Bill Gross's Janus Global Unconstrained Bond Fund in March, reversing cash withdrawals from the previous month, Morningstar said on Thursday.
  
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• Oil rallies on German economic data, Iran deal uncertainty

  09-04-2015 18:34 via news.yahoo.com
  
  Oil prices rallied on Thursday as strong German economic data and continued uncertainty about an agreement on Iran's nuclear program provided lift a day after crude futures tumbled 6 percent. Brent crude jumped more than 2 percent as European equities strengthened on German industrial output and trade data and also on Greece saying it will pay a loan tranche to the International Monetary Fund. Also supportive was Iran saying Tehran will only sign a final nuclear accord with six world powers
  
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• Fitch switches outlook on Brazil's BBB rating to negative

  09-04-2015 18:31 via news.yahoo.com
  
  Paris (AFP) - Fitch Ratings lowered Thursday the outlook on Brazil's investment grade BBB rating to negative, warning that government efforts to turn around the economy risk getting derailed.
  
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