Finance news

• UPDATE 4-'Bridgegate' dogs Christie as indictments, guilty pleas unveiled

  01-05-2015 23:43
  NEW YORK, May 1 (Reuters) - A former ally of New Jersey Governor Chris Christie on Friday pleaded guilty to federal charges related to the George Washington Bridge closure scandal, while two others...
  
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• Japan prime minister touts economic synergy with US in visit

  01-05-2015 23:43 via news.yahoo.com
  
  LOS ANGELES (AP) — Prime Minister Shinzo Abe says economic relations between Japan and the United States are strong and have the potential to get stronger.
  
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• Fed's Williams: good data before June could support rate hike

  01-05-2015 23:38 via news.yahoo.com
  
  If U.S. economic data comes in good enough, the Federal Reserve could well hike rates as soon as June, a top Fed official said on Friday. "I agree with the way my colleague (Cleveland Fed President) Loretta Mester put it," Williams told reporters after a speech at Chapman University. The Fed will get two months worth of data, including jobs reports for April and May as well as retail sales data, inflation data and other key metrics, said Williams, who is a voting member this year of the central
  
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• Commodities mostly rise on weak dollar, US economy

  01-05-2015 23:15 via news.yahoo.com
  
  Commodities mostly rose this week in holiday-shortened trade, with oil and base metal prices rebounding as the dollar sank on weak US economic growth and the uncertain interest rate outlook. "On the macroeconomic front, we received poor US economic data which added further pressure to the US dollar," noted Sucden analyst Myrto Sokou. The euro soared to a two-month high of $1.1285 on Friday in the wake of the poor data, and after the US Federal Reserve also left open the timing of an in
  
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• U.S. shares rally; dollar rises in May Day trading

  01-05-2015 23:04 via news.yahoo.com
  
  By Sam Forgione NEW YORK (Reuters) - U.S. shares rebounded sharply on Friday on gains in healthcare and technology stocks, while the dollar rose from nine-week lows on signs that the U.S. economy may be stabilizing. The Nasdaq snapped a four-day losing streak, while the S&P tech sector gained 1.5 percent and the S&P healthcare sector gained 1.3 percent. Apple shares rose 3 percent and were the biggest boost to the major U.S. indexes. All major European markets except London, its biggest,
  
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• Stocks end higher, bouncing back from a drop the day before

  01-05-2015 23:02 via news.yahoo.com
  
  NEW YORK (AP) — The stock market bounced back on Friday as investors picked up companies that had dropped earlier in the week. Major indexes recovered nearly all their losses from a fall the day before.
  
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• CANADA FX DEBT-C$ pressured by rebounding greenback, weaker oil prices

  01-05-2015 23:00
  (Updates with strategist's comment, details, closing figures) * Canadian dollar at C$1.2157 or 82.26 U.S. cents * Bond prices mostly lower across the maturity curve By Solarina Ho TORONTO, May 1...
  
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• NY jury finds ex-Goldman programmer Aleynikov guilty of code theft

  01-05-2015 22:54 via news.yahoo.com
  
  A New York jury on Friday convicted a former Goldman Sachs Group Inc programmer of stealing some of the bank's high-frequency trading code, in a legal battle closely watched by Wall Street and the financial world. The jury found Sergey Aleynikov guilty on only one count of stealing "secret scientific material" from Goldman. Aleynikov's lawyer, Kevin Marino, said after the verdict that the defense would file a motion for dismissal of the conviction, which he said was fatally f
  
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• GLOBAL MARKETS-U.S. shares rally; dollar rises in May Day trading

  01-05-2015 22:53
  * Oil dips after Iraq says crude exports hit record in April (Updates to close of U.S. trading)
  
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• WRAPUP 3-Anemic U.S. factory data points to moderate growth bounce

  01-05-2015 22:50
  WASHINGTON, May 1 (Reuters) - U.S. factory activity failed to gain steam in April after slowing for five straight months and demand for automobiles softened, suggesting the economy was struggling to...
  
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• Third Point takes stake in Yum! Brands, stock climbs

  01-05-2015 22:43
  
  BOSTON (Reuters) - Billionaire investor Daniel Loeb said on Friday his hedge fund has taken a new position in Yum! Brands , sending the fast-food restaurant company's stock up nearly 7 percent.
  
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• Wall St. ends up sharply as investors buy beaten-down shares

  01-05-2015 22:41 via news.yahoo.com
  
  (Reuters) - U.S. stocks bounced back sharply on Friday as investors snapped up beaten-down shares in the healthcare and technology sectors, and as data gave further signs of a pickup in the economy.
  
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• Chicago chief financial officer Scott to step down

  01-05-2015 22:39 via news.yahoo.com
  
  Lois Scott, Chicago's chief financial officer, said on Friday she plans to step down this month after four years on the job, making the announcement two days after she helped unveil plans to clean up the debt practices of the third-largest U.S. city. Mayor Rahm Emanuel's office said Scott will leave on May 20. "It has been a special honor serving Mayor Emanuel, a visionary mayor who believes deeply that confronting our fiscal challenges is inextricably linked to the larger economic growth and jo
  
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• Wall Street regulator says futures should be part of audit trail plan

  01-05-2015 22:30
  (Reuters) - Futures market trading data should be part of a new audit trail that is being developed to ensure that regulators can police markets across asset classes, a top Wall Street regulator said...
  
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• Bond bear ETFs post best week in two months

  01-05-2015 22:29
  NEW YORK (Reuters) - Exchange-traded funds that bet against the U.S. Treasuries market enjoyed their best week in at least two months as longer-dated yields posted their biggest weekly rise since...
  
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• Reducing alcohol-related car crashes may help economy

  01-05-2015 22:18 via news.yahoo.com
  
  By Andrew M. Seaman (Reuters Health) - The large reduction in alcohol-related motor vehicle crashes over the past few decades helped the U.S. economy, according to a new study. Of the $200 million of compounded annual growth to the U.S. gross domestic product (GDP) since 1984 to 1986, about 5 percent is a result of reduction in alcohol-related car crashes, researchers report. Economic gains will continue to accumulate as alcohol-related car crashes continue to become less common, said Ted Miller
  
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• UPDATE 1-US dollar longs fall to lowest since mid-December; euro shorts dip

  01-05-2015 22:15
  (Adds table, details) May 1 (Reuters) - Speculators pared back positive bets on the U.S. dollar, pushing the currency's net long position to their lowest in 4-1/2 months, according to data from the...
  
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• Fitch Affirms Kazakhstan at 'BBB+'; Outlook Stable

  01-05-2015 22:05
  (The following statement was released by the rating agency) LONDON, May 01 (Fitch) Fitch Ratings has affirmed Kazakhstan's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'BBB+'...
  
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• U.S. dollar net longs fall to lowest since mid-Dec-CFTC, Thomson Reuters data

  01-05-2015 21:50
  May 1 (Reuters) - Speculators pared back positive bets on the U.S. dollar, pushing the currency's net long position to their lowest since mid-December, according to data from the Commodity Futures...
  
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• Tying Fed to policy rule could lead to worse outcomes: Williams

  01-05-2015 21:49 via news.yahoo.com
  
  Requiring the Federal Reserve to operate according to a monetary policy rule could generate worse economic outcomes than using a goal-based mandate like an inflation target, a top Federal Reserve official said on Friday. "Particularly in situations of economic stress or crisis, operational mandates have proven to be ineffective and have often been abandoned," San Francisco Fed President John Williams said in remarks prepared for delivery at Chapman University. What stood out about Will
  
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• Violent clashes overshadow start of Milan Expo

  01-05-2015 21:32 via news.yahoo.com
  
  The opening of Expo 2015 was marred Friday by violent clashes between police and dozens of militants opposed to Milan's hosting of the world fair. The violent scenes left parts of Milan's elegant centre looking like a battle zone, giving a bitter-sweet start to a six-month food-themed event Italy hopes will bolster its international standing and boost its struggling economy. "The authentic face of Milan is the positive, noble and handsome one displayed to the world and the future
  
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• UPDATE 6-Oil off 2015 highs on Iraq export record, strong dollar

  01-05-2015 21:31
  * Venezuelan refinery work helps lift products futures (Rewrites throughout, adds Venezuela refinery work news, updates prices to settlement)
  
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• Wall St Week Ahead-U.S. jobs report looms for directionless market

  01-05-2015 21:31
  NEW YORK, May 1 (Reuters) - The U.S. stock market has struggled for direction of late, but next week's payroll report could confirm whether the recent weakness in data and stock prices is waning as...
  
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• FOREX-Dollar advances to two-week highs vs yen, euro slides

  01-05-2015 21:23
  * Euro surrenders gains, after hitting 2-month high (New throughout, updates prices and market activity, adds comments)
  
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• UPDATE 2-General Motors top seller in Canada in April

  01-05-2015 21:20
  TORONTO, May 1 (Reuters) - General Motors Co jumped to the top of the Canadian sales rankings for April as it sold 15 percent more cars and trucks than a year earlier, the company said on Friday,...
  
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• TREASURIES-U.S. bonds post steepest weekly sell-off in two months

  01-05-2015 21:14
  * Investors rethink view on protracted global low yields * Traders brush off misses in U.S. factory, construction data * Benchmark yields post biggest weekly rise since early March * Treasuries lost...
  
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• U.S. on track to reach deals on forex rigging as soon as May

  01-05-2015 21:09
  NEW YORK, May 1 (Reuters) - U.S. authorities are on course to reach multi-billion-dollar agreements with five major banks over allegations of foreign exchange market rigging as soon as the second...
  
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• U.S. shares gain; dollar rises in May Day trading

  01-05-2015 21:08 via news.yahoo.com
  
  By Sam Forgione NEW YORK (Reuters) - U.S. shares gained on Friday after two straight sessions of losses on a rebound in healthcare and technology stocks, while the dollar rose from nine-week lows on signs that the U.S. economy may be stabilizing. Apple shares were higher and were the biggest driver on the Nasdaq and S&P 500. All major European markets except London, its biggest, were closed on Friday for the May Day holiday, while many Asian markets were also shut. London's FTSE 100 ind
  
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• PRECIOUS-Gold falls more than 1 percent to six-week low

  01-05-2015 21:05
  * Dollar reverses early losses after U.S. data (Updates prices, adds comment)
  
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• UPDATE 3-'Bridgegate' dogs Christie as indictments, guilty pleas unveiled

  01-05-2015 21:00
  NEW YORK, May 1 (Reuters) - A former ally of New Jersey Governor Chris Christie on Friday pleaded guilty to federal charges related to the George Washington Bridge closure scandal, while two others...
  
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• TABLE- Top-20 selling vehicles in U.S. in April

  01-05-2015 20:54
  May 1 (Reuters) - The following are the 20 top-selling vehicles in the U.S. in April as reported by the automakers and ranked by total units. Top 20 selling vehicles in U.S. in April RANK VEHICLE...
  
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• Energy East project could go ahead with one export port -TransCanada CEO

  01-05-2015 20:50
  May 1 (Reuters) - TransCanada Corp is still mulling alternative sites for a second oil export terminal for its Energy East pipeline, though the C$12 billion project could go ahead with just one...
  
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• UPDATE 1-U.S. telecom groups, AT&T seek to block new Internet rules

  01-05-2015 20:46
  WASHINGTON, May 1 (Reuters) - U.S. telecom industry groups, alongside AT&T Inc and CenturyLink Inc, called for regulators to block parts of new rules for Internet service providers on Friday, citing...
  
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• Gundlach's DoubleLine Funds post 15th consecutive month of inflows

  01-05-2015 20:43
  NEW YORK (Reuters) - DoubleLine Funds, whose co-founder Jeffrey Gundlach is widely followed for his investment calls, on Friday reported $945 million in net additional investments in April, the 15th...
  
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• UPDATE 2-Gundlach's DoubleLine Funds post 15th consecutive month of inflows

  01-05-2015 20:41
  NEW YORK, May 1 (Reuters) - DoubleLine Funds, whose co-founder Jeffrey Gundlach is widely followed for his investment calls, on Friday reported $945 million in net additional investments in April,...
  
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• U.S. telecom groups, AT&T seek to block new Internet rules

  01-05-2015 20:37
  WASHINGTON, May 1 (Reuters) - U.S. telecom industry groups, alongside AT&T Inc and smaller companies, on Friday called for regulators to immediately block parts of new stricter rules for Internet...
  
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• US seeks to compensate victims of Sudan, Iran and Cuba

  01-05-2015 20:31 via news.yahoo.com
  
  NEW YORK (AP) — The U.S. government announced a system Friday to compensate people harmed by Sudan, Iran and Cuba using some of the $8.9 billion forfeited by France's largest bank for violating U.S. economic sanctions by processing transactions for clients in blacklisted countries.
  
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• McDonald's shares poised for big move; bullish bets rise

  01-05-2015 20:21
  NEW YORK, May 1 (Reuters) - Options traders appear poised for a big move in McDonald's Corp's shares as the world's biggest restaurant chain is set to unveil a much-awaited turnaround plan on Monday,...
  
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• INSIGHT-As youth vaping rises, teens cite the allure of tricks

  01-05-2015 20:17
  NEW YORK, May 1 (Reuters) - On a recent morning, Roger Tarazon and several friends gathered a few blocks from their Queens, New York high school. Some smoked traditional cigarettes, but Tarazon and a...
  
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• Chicago's solvency at risk as pension liability grows -Moody's

  01-05-2015 20:16
  CHICAGO, May 1 (Reuters) - Chicago's $20 billion unfunded public pension liability is on track to grow significantly regardless of the outcomes of litigation over the constitutionality of benefit...
  
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• Italian police battle rioters at start of Milan Expo

  01-05-2015 20:13 via news.yahoo.com
  
  By Sara Rossi MILAN (Reuters) - Police fired tear gas at demonstrators on Friday as violent protests marred the start of the Milan Expo, a global fair the government had hoped would help to put a new face on Italy after years of economic decline. Thick clouds of smoke from burning cars filled parts of central Milan, where groups of protesters, their faces masked against the fumes, threw stones and petrol bombs and faced off against lines of police in riot gear. The confrontation broke out after
  
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• New York Times not giving up on print just yet

  01-05-2015 20:10 via news.yahoo.com
  
  For the New York Times, it will be "All the News That's Fit to Print" - literally - for a while yet. Mark Thompson, chief executive of the New York Times Co, says that while the company's digital business is the future, he isn't giving up on print. "We are determined to do everything we can do to defend print advertising," Thompson said in an interview. "Print advertising is not going to be a part of the growth story of the New York Times, but for economic
  
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• Wall Street regulator cites concerns with Labor Department's broker rule

  01-05-2015 20:08
  
  WASHINGTON (Reuters) - A leading Wall Street regulator on Friday voiced concerns over the U.S. Labor Department's plan to reduce conflicts at brokers offering retirement advice, saying some aspects...
  
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• Muni issuance dipped in April, but spiked so far in 2015

  01-05-2015 20:07
  May 1 (Reuters) - Issuance of U.S. municipal bonds fell slightly in April, but sales for the first four months of 2015 jumped over 67 percent compared with the same period a year earlier, according...
  
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• UPDATE 1-U.S. weekly oil rig count decline slows -Baker Hughes

  01-05-2015 20:06
  May 1 (Reuters) - The fall in the U.S. oil rig count slowed this week, data showed on Friday, suggesting the collapse in drilling may be coming to an end as prices recover after falling 60 percent...
  
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• Wall Street regulator cites concerns with Labor Dept's broker rule

  01-05-2015 20:05
  WASHINGTON, May 1 (Reuters) - A leading Wall Street regulator on Friday voiced concerns over the U.S. Labor Department's plan to reduce conflicts at brokers offering retirement advice, saying some...
  
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• Fitch Affirms Autonomous Community of Valencia at 'BBB-'; Outlook Stable

  01-05-2015 20:04
  (The following statement was released by the rating agency) BARCELONA/PARIS/LONDON, May 01 (Fitch) Fitch Ratings has affirmed the Autonomous Community of Valencia's (Valencia) Long-term foreign and...
  
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• U.S., UK, China manufacturing all in slow lane

  01-05-2015 20:04 via news.yahoo.com
  
  Manufacturing sector data for the eurozone and Latin America will be published on Monday after the May Day holiday in many countries on Friday. Expansion in the U.S. manufacturing sector weakened in April as growth in output and new orders fell, according to financial data vendor Markit. The final reading of the U.S. Manufacturing Purchasing Managers' Index for April fell to 54.1 from 55.7 in March. April's growth was the slowest of 2015, and "the survey results raise worries that
  
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• Western Canadian office vacancy rates to hit 20-year high: report

  01-05-2015 20:00 via news.yahoo.com
  
  By Allison Lampert MONTREAL (Reuters) - Sliding commodity prices and record levels of office construction could drive Western Canadian downtown vacancy rates to a two-decade high, one of the world's biggest commercial real estate services firms has forecast. Despite growth in the high-tech sector, weaker demand from resource and energy companies is boosting vacancy rates in Vancouver, Calgary and Edmonton to levels unseen since Canada's economic slowdown of the early 1990s, according t
  
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• Anemic U.S. factory data points to moderate growth bounce

  01-05-2015 19:40 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - U.S. factory activity failed to gain steam in April after slowing for five straight months, but stronger-than-expected vehicle sales suggested the economy was finding some momentum after almost stalling in the first quarter. Still, the sluggishness in the manufacturing sector and other data on Friday showing construction spending hit a six-month low in March indicated that the anticipated acceleration in growth in the second quarter could disappoint. The
  
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