Finance news

• Rumors Bombardier trains division for sale refuted

  10-04-2015 23:50 via news.yahoo.com
  
  A Quebec government official on Friday quashed speculation that Canadian manufacturer Bombardier is preparing to sell off its lucrative trains division. Jacques Daoust, economic minister for the Canadian province of Quebec, where the company is based, said he had spoken with Bombardier chief executive Pierre Beaudoin and was assured the trains unit was not for sale. "I received the confirmation this morning that the Transportation division is not for sale," Daoust said in a statement.
  
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• Pimco Total Return Fund slashes US government-related holdings in March

  10-04-2015 23:49
  NEW YORK, April 10 (Reuters) - The Pimco Total Return Fund decreased its exposure in U.S. government-related securities to 21.60 percent in March, from 35.29 percent in February, according to Pimco's...
  
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• UPDATE 2-IMF sees Brazil economy shrinking, growth hinging on austerity

  10-04-2015 23:36
  GOIANIA, Brazil April 10 (Reuters) - The Brazilian economy will likely shrink this year, but the South American country could return to growth in 2016 if it succeeds in boosting investor confidence...
  
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• Nokia explores sale of map business, source says

  10-04-2015 23:22
  NEW YORK/HELSINKI (Reuters) - Nokia is considering selling its maps business known as HERE, a source familiar with the matter said on Friday, pushing up shares in the Finnish company as well as its...
  
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• UPDATE 2-Nokia explores sale of map business, source says

  10-04-2015 23:21
  NEW YORK/HELSINKI, April 10 (Reuters) - Nokia is considering selling its maps business known as HERE, a source familiar with the matter said on Friday, pushing up shares in the Finnish company as...
  
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• Symantec has been exploring Veritas sale for months: sources

  10-04-2015 23:06
  (Reuters) - Security software maker Symantec Corp has been seeking buyers for its storage software business, Veritas, or the entire company for several months, sources familiar with the matter said.
  
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• Pakistan gets $1.2 billion offers for HBL shares

  10-04-2015 22:50 via news.yahoo.com
  
  The Pakistani government has had offers of more than $1.2 billion for its remaining stake in the country's largest private bank HBL, exceeding expectations, a minister said Friday. The deal to offload the goverment's 41.5 percent share in HBL, likely to be approved on Saturday, would be the country's largest privatisation deal in the past decade. HBL, formerly known as Habib Bank Limited, was part-privatised in 2003, with the Agha Khan Foundation buying the bulk of the shares. The
  
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• GE sparks broad Wall Street rally; indexes post weekly gains

  10-04-2015 22:41 via news.yahoo.com
  
  U.S. stocks ended a strong week with a broad rally on Friday as investors lauded GE's decision to divest most of its high-risk GE Capital business and repurchase up to $50 billion of its shares. All 10 primary S&P 500 sectors ended up on the day but the S&P Industrials index (.SPLRCI), driven by gains in GE shares, was by far the best performer and rose 1.5 percent. General Electric (GE.N) rose 10.8 percent to $28.51, hitting its highest level since September 2008 after it said ther
  
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• CANADA FX DEBT-C$ gets boost from unexpected job gains, higher oil

  10-04-2015 22:40
  (Updates with fresh comment from Scotiabank, closing figures) * Canadian dollar ends at C$1.2580 or 79.49 U.S. cents * Bond prices higher across the maturity curve By Solarina Ho TORONTO, April 10...
  
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• Quebec economy minister says assured Bombardier rail unit won't be sold

  10-04-2015 22:30 via news.yahoo.com
  
  By Allison Lampert MONTREAL (Reuters) - Quebec's economy minister said on Friday he had been assured by Bombardier Inc's controlling family that the company would not sell its transportation division in its entirety and that other options were on the table. Jacques Daoust said he spoke to Bombardier Chairman Pierre Beaudoin after Reuters reported that the Montreal-based company is looking for ways to use its transport division to raise money, such as by selling all or part of the unit or launchi
  
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• LatAm credits end week well bid, new Mexico bond extends gains

  10-04-2015 22:23
  NEW YORK, April 10 (IFR) - Latin American credits remained well bid Friday, driven primarily by positive sentiment toward Brazilian oil company Petrobras and a healthy crossover bid for high-yielding...
  
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• Oil jumps as Iran raises new challenge to nuclear deal

  10-04-2015 22:23 via news.yahoo.com
  
  New York (AFP) - Crude prices jumped Friday to finish a volatile week on a high note after Tehran raised new questions about the nuclear deal that would allow Iranian oil back into the market.
  
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• GLOBAL MARKETS-World stocks reach milestones, dollar gains

  10-04-2015 22:22
  * Dollar posts best week since 2011, euro hammered (Recasts first paragraph, updates market action, adds byline)
  
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• Oil prices rebound; gold firms

  10-04-2015 22:21 via news.yahoo.com
  
  Oil prices rebounded and gold firmed this week as markets reacted to geopolitical concerns and the outlook for interest rates in the United States. The dollar has fought back against the euro in recent weeks as markets bet on rises to US interest rates later this year despite a clouded outlook. Minutes of the US central bank's last policy meeting showed a split over when interest rates should again start rising in the world's biggest economy.
  
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• MOVES- Citigroup, HSBC, AIG, Perella Weinberg

  10-04-2015 22:11
  April 10 (Reuters) - The following financial services industry appointments were announced on Friday. To inform us of other job changes, email [email protected].
  
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• Wall Street closes higher on GE divestment and buyback

  10-04-2015 22:08 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks closed out a strong week with a broad rally on Friday as investors lauded GE's decision to divest most of its high-risk GE Capital business and repurchase up to $50 billion of its shares.
  
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• U.S. targets Iran's record on women's rights at United Nations

  10-04-2015 22:05 via news.yahoo.com
  
  The United States targeted Iran's record on women's rights on Friday by calling a rare vote on the country's "wholly inappropriate" bid to join the executive board of the United Nations gender equality body. The 54-member U.N. Economic and Social Council held a secret ballot on the uncontested Asia-Pacific regional slate for the board of UN Women, which was created by the United Nations in 2010 as a body for gender equality and empowerment of women. Samoa and United Arab Emirates got 53 votes, T
  
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• Perrigo acquisition could threaten Mylan's investment grade

  10-04-2015 22:03
  NEW YORK, April 10 (IFR) - Drugmaker Mylan is at risk of dropping back into junk territory if it doesn't strike a perfect balance between bond and equity to finance its proposed US$30bn acquisition...
  
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• UPDATE 1-Specs reduce long U.S. dollars this week - CFTC, Reuters

  10-04-2015 22:01
  (Adds table, details) April 10 (Reuters) - Speculators trimmed positive bets on the U.S. dollar for a second straight week, according to data from the Commodity Futures Trading Commission and Thomson...
  
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• U.S. conservatives threaten delay to fixing Medicare doctor payments

  10-04-2015 22:01 via news.yahoo.com
  
  By Susan Cornwell WASHINGTON (Reuters) - Conservative objections over spending are raising doubts over whether the U.S. Senate can quickly approve legislation fixing the Medicare physician payment system, in a possible setback for Republicans keen to show they can get things done. Some Senate conservatives are threatening to insist that the measure be fully paid for, after the House of Representatives passed a version of the "doc fix" bill two weeks ago that would expand the federal deficit. Sen
  
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• Speculative U.S. 10-year T-note futures net shorts rise -CFTC

  10-04-2015 21:47
  April 10 (Reuters) - Speculators' net bearish bets on U.S. 10-year Treasury note futures rose in the latest week, according to Commodity Futures Trading Commission data released on Friday. The amount...
  
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• TREASURIES-Prices edge up as investors look to slew of U.S. data next week

  10-04-2015 21:45
  * U.S. import prices fall in March, suggesting muted inflation
  
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• Specs slightly pare long U.S. dollars this week -CFTC, Reuters

  10-04-2015 21:44
  April 10 (Reuters) - Speculators trimmed positive bets on the U.S. dollar for a second straight week, according to data from the Commodity Futures Trading Commission and Thomson Reuters released on...
  
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• GE plan further shrinks its money market presence

  10-04-2015 21:41
  NEW YORK, April 10 (Reuters) - General Electric Co.'s plan to retrench from the finance business will further reduce its already diminishing presence in the U.S. money market, which it has leaned on...
  
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• EMERGING MARKETS-Brazil Bovespa rises with Petrobras, banks

  10-04-2015 21:31
  By Walter Brandimarte RIO DE JANEIRO, April 10 (Reuters) - Petrobras shares rallied for a second day on Friday, boosting Brazil's benchmark stock index, on expectation the state-run oil company will...
  
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• Ex-Merrill Lynch broker Tom Buck joins RBC

  10-04-2015 21:25
  NEW YORK (Reuters) - Tom Buck, the Indiana broker who managed $1.2 billion in client assets at Bank of America Merrill Lynch before he was fired last month, has joined Royal Bank of Canada's RBC...
  
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• Brazil's return to economic growth hinges on austerity -IMF

  10-04-2015 21:18
  BRASILIA, April 10 (Reuters) - The International Monetary Fund said on Friday that it sees the Brazilian economy contracting 1 percent this year, but believes the South American country could return...
  
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• UPDATE 1-Brazil's Levy fails to convince states on tax unification

  10-04-2015 20:47
  GOIANIA, Brazil, April 10 (Reuters) - Brazilian Finance Minister Joaquim Levy on Friday failed to convince all of the country's states to unify an inter-state tax that he said is crucial to reduce...
  
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• Czech c.bank says it has no information about rate manipulation

  10-04-2015 20:46
  PRAGUE, April 10 (Reuters) - The Czech central bank (CNB) said on Friday it had no information about any suspicions of manipulation of interbank rates and did not see any reason to investigate the...
  
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• Wall Street Week Ahead: Fed takes back seat as market shifts focus to earnings

  10-04-2015 20:46 via news.yahoo.com
  
  With earnings season underway, Wall Street is temporarily putting the U.S. Federal Reserve and macroeconomic policy on the back burner in favor of a focus on individual company results and forecasts for a pulse on the economy's health. A slew of big banks, including JPMorgan Chase & Co and Bank of America Corp, is due to report first-quarter earnings next week, providing an expected bright spot in an otherwise gloomy quarter. Profits of companies on the S&P 500 are projected to have
  
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• Wall St Week Ahead-Fed takes back seat as market shifts focus to earnings

  10-04-2015 20:38
  NEW YORK, April 10 (Reuters) - With earnings season underway, Wall Street is temporarily putting the U.S. Federal Reserve and macroeconomic policy on the back burner in favor of a focus on individual...
  
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• Europe's stocks shoot to record highs

  10-04-2015 19:29 via news.yahoo.com
  
  European stock markets shot to record highs Friday as a weaker single currency boosted companies' exports from the eurozone. London's benchmark FTSE 100 index shot up 1.06 percent on the day to close at 7,089.77 points, having risen as high as 7,095.36 during the session. "It's been a day of multi-year and new record highs today, following on from the Japanese Nikkei nudging against the 20,000 level, its highest level in fifteen years," said Michael Hewson, chief market
  
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• Potential DTA clampdown threatens peripheral banks

  10-04-2015 18:53
  * Lenders in southern Europe face potential EUR40bn capital
  loss
  
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• Exclusive: CVC seeking $5.3 billion sale or listing of hospital group IDCSalud – sources

  10-04-2015 18:32 via news.yahoo.com
  
  By Pamela Barbaglia and Freya Berry LONDON (Reuters) - The private equity owners of Spain's largest private hospital group, IDCSalud, are pursuing a potential 5 billion euro ($5.3 billion) sale or stock market listing of the healthcare operator, six sources familiar with the matter said on Friday. CVC Capital Partners [CVC.UL], the London-based majority owner of IDCSalud, bought a majority stake in rival Quiron last year and merged it with IDCSalud to create the largest healthcare operator in Sp
  
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• More austere, accommodating Rousseff paying off for Brazil

  10-04-2015 18:24 via news.yahoo.com
  
  By embracing power-sharing deals and budget cuts that she shunned during her first term in office, President Dilma Rousseff has begun to ease the economic and political crisis plaguing Brazil, congressional leaders and economists say. Rousseff's decision this week to hand formal responsibility for negotiating with Congress to Vice President Michel Temer, a leader of the Brazilian Democratic Movement Party (PMDB), was a milestone that should help ease tensions with the biggest party in her c
  
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• UK's FTSE races to new record high as Shire shines

  10-04-2015 17:59
  LONDON, April 10 (Reuters) - Britain's top equity index sprinted to new record highs on Friday, as real-estate stocks extended gains from a rebound in property prices and drugmaker Shire got a lift...
  
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• Europe stocks strike record closes

  10-04-2015 17:56 via news.yahoo.com
  
  Paris (AFP) - Europe's main stock markets finished higher on Friday, with both London and Frankfurt striking record all-time and closing highs.
  
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• Wall Street climbs on GE divestment, buyback plan

  10-04-2015 17:53 via news.yahoo.com
  
  The S&P Industrials (.SPLRCI) was up 1.5 percent as the best performing of the 10 major S&P sectors, paced by GE's gain. General Electric (GE.N) jumped 7.6 percent to $27.69 as the most active stock on the New York Stock Exchange, with more than 236 million shares changing hands. The stock has been under-owned by institutional investors and that's going to change now," said Tom Donino, co-head of equity trading at First New York Securities. GE will sell the bulk of its $30
  
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• Canada's surprise jobs gain gives central bank breathing space

  10-04-2015 17:50 via news.yahoo.com
  
  By Leah Schnurr OTTAWA (Reuters) - The Canadian economy unexpectedly added 28,700 jobs last month due to a surge in part-time positions, an increase that reinforced expectations that the central bank will not move to cut interest rates further next week to stimulate growth. Statistics Canada also said on Friday the unemployment rate stayed steady at 6.8 percent in March. The gain came from 56,800 new part-time positions, the biggest increase in part-time jobs since July. "It was a mixed bag over
  
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• Jacob Lawrence's Migration series on view at MoMA

  10-04-2015 17:43 via news.yahoo.com
  
  NEW YORK (AP) — One hundred years ago, African-Americans began a mass exodus from the rural South, heading north in search of economic opportunity and social equality. The Museum of Modern Art is paying tribute to that movement in a rare exhibition of a series chronicling the phenomenon from artist Jacob Lawrence, himself the son of migrants.
  
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• High-yield bond funds worldwide lure $2.1 billion, most in 5 weeks: BofA

  10-04-2015 17:42
  NEW YORK (Reuters) - Investors worldwide poured $2.1 billion into high-yield bond funds in the latest week after a lackluster U.S employment report suggested the Federal Reserve would wait longer...
  
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• Global Markets - Nikkei tops 20,000, European shares hit 15-yr high

  10-04-2015 17:29 via news.yahoo.com
  
  By David Gaffen NEW YORK (Reuters) - World equity markets tested record highs on Friday as hopes of more easy money from top central banks pushed Japan's Nikkei index past 20,000 points for the first time in 15 years. The dollar added to recent gains, moving it toward parity with the euro, boosted by favorable bond yields in the United States compared with Europe. Wall Street was higher after industrial conglomerate General Electric Co said it would sell off its finance arm, helping boost t
  
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• South Africa's rand, govt bonds weaker on dollar pressures

  10-04-2015 17:19 via news.yahoo.com
  
  South Africa's rand gave up its gains against the dollar on Friday, as the greenback strengthened with jobless claims data easing concern over the state of the U.S. economy.
  
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• All eyes on major jet deal as India's Modi meets Hollande

  10-04-2015 17:02 via news.yahoo.com
  India's prime minister kicked off Friday talks in Paris with the French president with all eyes on a potential multi-billion-euro fighter jet deal hailed as the "contract of the century." Once persona non grata in the European Union, Narendra Modi was welcomed with open arms by President Francois Hollande as he aims to woo investors to his fast-growing economy on the first leg of his maiden trip to the continent. Ahead of the visit, fevered speculation has centred on whether Modi
  
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• India factory output hits nine-month high

  10-04-2015 16:48 via news.yahoo.com
  
  India said Friday its industrial production grew by five percent in February, its highest rate in nine months, indicating a boost in Asia's third-largest economy. "The fact is the economy is still performing below potential and all indicators are suggesting that we are just at the beginning of a gradual recovery," Dharmakirti Joshi, chief economist at Indian credit rating agency Crisil, told AFP. "Some more hand-holding from the RBI (Reserve Bank of India) in form of rate cut
  
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• Wall Street inches up on GE deal, buyback

  10-04-2015 16:23 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks inched higher at the open on Friday as investors lauded GE's decision to divest the bulk of its high-risk GE Capital business and share repurchase plan. The Dow Jones industrial average rose 22.52 points, or 0.13 percent, to 17,981.25, the S&P 500 gained 3.69 points, or 0.18 percent, to 2,094.87 and the Nasdaq Composite added 6.29 points, or 0.13 percent, to 4,980.85. (Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)
  
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• Europe's stocks shoot higher heading into weekend

  10-04-2015 16:17 via news.yahoo.com
  
  European stock markets shot higher on Friday, with Frankfurt's DAX striking a new record high as a weaker single currency boosts companies' exports from the eurozone. London's benchmark FTSE 100 index climbed 0.56 percent to 7,055.98 points in afternoon trading. In the eurozone, Frankfurt's DAX 30 jumped to an all-time high of 12,390.75 points, before slipping to 12,367.90 in afternoon trading, although it was still a strong 1.66 percent gain from Thursday's close. In fo
  
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• German lenders should write off half of bonds from Austria's Heta - Bundesbank

  10-04-2015 16:16
  FRANKFURT, April 10 (Reuters) - German lenders should
  prepare to write off at least half the value of the bonds they
  hold in Austrian 'bad bank' Heta Asset Resolution AG, a
  Bundesbank board member...
  
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• Mali sees growth slipping to 5 pct range in 2015: finance minister

  10-04-2015 15:47 via news.yahoo.com
  
  Mali's economic growth will slow this year after reaching 7.2 percent in 2014 due to increased cotton production, although it should still top 5 percent, the finance minister said on Thursday. The West African nation, one of the region's leading cotton producers, saw raw cotton output jump to 550,000 tonnes in 2014 from 440,000 the previous year after the government increased input subsidies and lowered the price of fertilizers. "It's this increase of more than 100,000 tonnes that resulted in mo
  
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• Venture capitalists ride biotech wave one drug at a time

  10-04-2015 15:26
  LONDON (Reuters) - How many people does it take to run a successful biotech company? Just two, judging by the sale of XO1, a one-drug British firm snapped up last month by Johnson & Johnson.
  
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