Finance news

• Good for Bill Gross good for the gander?

  06-05-2015 23:56
  
  (Reuters) - If credit is no longer working its magic on the economy and asset markets, why does Bill Gross think it will work in investor portfolios?
  
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• This restaurant has a new secret weapon: a robot that slices the perfect noodle faster than any human

  06-05-2015 23:45 via news.yahoo.com
  
  Zoomin.TV World News Robot are revolutionizing the restaurant industry. China has a new celebrity, and it’s not another 7′ 6″ giant who can dunk a basketball or martial-arts master taking center stage in American action movies. It’s a noodle-slicing robot named Foxbot, who can be found at Dazzling Noodles, an open-kitchen restaurant chain in North China’s Shanxi province. Not only does Foxbot make the perfect knife-cut noodles, a specialty of Shanxi, but it does it  than any human ha
  
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• UPDATE 1-Tesla posts wider net loss, stands by full-year delivery target

  06-05-2015 23:32
  May 6 (Reuters) - Tesla Motors Inc Wednesday reported a wider first-quarter net loss, but outperformed expectations and stuck to key milestones for the year ahead despite pressure on margins.
  
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• Stocks slide as bond yields rise and US dollar slumps

  06-05-2015 23:27 via news.yahoo.com
  
  Improving European economic data is easing the fear of deflation, pushing up bond yields in the euro zone, while persistently weak U.S. economic data in the first four months of the year, along with poor corporate earnings, is calling the valuation of equities into question. "Markets can handle slowly, gradually-rising interest rates as an economy continues to improve. The uncertainty is that these are pretty significant moves,” said Chuck Carlson, chief executive officer at Horizon Inves
  
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• GLOBAL MARKETS-Stocks slide as bond yields rise and US dollar slumps

  06-05-2015 23:24 via news.yahoo.com
  
  Improving European economic data is easing the fear of deflation, pushing up bond yields in the euro zone, while persistently weak U.S. economic data in the first four months of the year, along with poor corporate earnings, is calling the valuation of equities into question. "Markets can handle slowly, gradually-rising interest rates as an economy continues to improve. The uncertainty is that these are pretty significant moves," said Chuck Carlson, chief executive officer at Horizon Investment S
  
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• Tesla beats Wall Street forecasts on record quarterly sales

  06-05-2015 23:24 via news.yahoo.com
  
  DETROIT (AP) — Electric car maker Tesla Motors delivered a quarterly record of 10,045 cars in the first quarter, and its results beat Wall Street's expectations despite investment in new products and factory capacity and the impact of the strong dollar.
  
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• Morgan Stanley renews U.S. oil storage deal ahead of trading unit sale

  06-05-2015 23:04 via news.yahoo.com
  
  Morgan Stanley's commodities group has renewed a refined product storage deal with TransMontaigne Partners L.P. seven months early, as the Wall Street bank plans to sell its physical oil business. In a statement on Wednesday, TransMontaigne said Morgan Stanley Capital Group extended its lease agreements for about 2.7 million barrels of refined product storage in Mississippi.
  
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• Stocks drop on weak jobs data, jitters over Yellen comments

  06-05-2015 22:59 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks fell across industries on Wednesday as investors worried over stock valuations, economic growth and rising interest rates.
  
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• Stock market operator Chi-X exploring sale - source

  06-05-2015 22:50
  May 6 (Reuters) - Stock market operator Chi-X Global Holdings, owned by Nomura Holdings Inc and other banks, is exploring a sale that could fetch as much as $400 million, a person familiar with the...
  
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• Rivals still tied in last hours of election campaign

  06-05-2015 22:41 via news.yahoo.com
  
  By Andrew Osborn and Mark Trevelyan LONDON (Reuters) - A late burst of opinion polls suggested on Wednesday that Conservative Prime Minister David Cameron and Labour challenger Ed Miliband had fought each other to a standstill on the eve of Britain's most unpredictable election in a generation. The stakes are high because of a rare confluence of factors which mean Britain's future in the European Union, as well as its national cohesion, could hinge on the result. Both the main party le
  
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• British rivals still tied in last hours of election campaign

  06-05-2015 22:34 via news.yahoo.com
  
  By Andrew Osborn and Mark Trevelyan LONDON (Reuters) - A late burst of opinion polls suggested on Wednesday that Conservative Prime Minister David Cameron and Labour challenger Ed Miliband had fought each other to a standstill on the eve of Britain's most unpredictable election in a generation. The stakes are high because of a rare confluence of factors which mean Britain's future in the European Union, as well as its national cohesion, could hinge on the result. Both the main party le
  
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• OHL Mexico shares slump, traders cite secret recordings

  06-05-2015 22:30
  MEXICO CITY, May 6 (Reuters) - Shares in the Mexican unit of Spanish builder OHL tumbled to a four-month low on Wednesday after the release of recordings that appeared to show executives discussing...
  
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• U.S. FCC chair to cable industry: 'More competition would be better'

  06-05-2015 22:30 via news.yahoo.com
  
  (Reuters) - The top U.S. communications watchdog urged the cable industry on Wednesday to "overcome the temptation" to use its growing dominance as Internet providers to protect its traditional business, while cable CEOs pushed back against new regulations. Speaking at the industry's trade show in Chicago, Federal Communications Commission Chairman Tom Wheeler drew a lukewarm reception as he pressed the companies to boost competition and embrace the Internet's power to shake
  
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• US stocks close lower after weak jobs data; oil prices rise

  06-05-2015 22:12 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks are closing lower as investors worry about the economy, interest rates and stock valuations.
  
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• U.S.-based domestic stock fund outflows biggest since July: ICI

  06-05-2015 21:17
  NEW YORK (Reuters) - Investors in U.S.-based mutual funds pulled $7.3 billion out of funds that specialize in U.S. shares in the week ended April 29 after some weak corporate earnings and economic...
  
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• Cablevision shares jump after CEO says interested in "deal"

  06-05-2015 21:09
  May 6 (Reuters) - Shares of Cablevision Systems Corp jumped as much as 8 percent after Chief Executive James Dolan said he would be interested in a "deal" with Time Warner Cable Inc, Comcast Corp and...
  
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• Puerto Rico appeals for options to restructure $9 billion in muni debt

  06-05-2015 21:00
  BOSTON, May 6 (Reuters) - Puerto Rico's troubled electric
  utility on Wednesday asked a U.S. appeals court for an
  alternative to restructure some $9 billion in debt, saying it
  would otherwise be at...
  
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• Security camera maker Avigilon's shares drop on spending concerns

  06-05-2015 20:58
  May 6 (Reuters) - Shares of Canadian security camera maker Avigilon Corp fell as much as 28.5 percent on the Toronto Stock Exchange on Wednesday after the company reported a big jump in research and...
  
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• Yellen warning, bond anxiety send Wall Street lower

  06-05-2015 20:41 via news.yahoo.com
  The S&P 500 dipped to its lowest since mid-April after Yellen said high equity valuations could pose dangers, although she also said she does not see any bubbles forming. With corporate earnings season winding down, U.S. investors are bracing for an April payroll report later this week that could give a hint of when the Fed will begin raising interest rates. “Everyone is obsessed with the Fed,” said Michael Church, president of Addison Capital Management in Philadelphia. At 2:20 p.m., th
  
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• UPDATE 4-Alexion to bolster rare disease offering with $8.4 bln deal

  06-05-2015 20:31
  * Alexion offers $225.92 per Synageva share in cash and stock
  
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• Greece feta row threatens EU-Canada deal

  06-05-2015 20:20 via news.yahoo.com
  
  Greece is pushing for changes to a trade deal between the EU and Canada, saying that the 2013 agreement does not protect its celebrated feta cheese, officials said Wednesday. Economy minister George Stathakis will discuss the issue with his colleagues at a meeting in Brussels on Thursday, they said. A Greek source said they could veto the deal which must be approved by leaders of the European Union's 28 member states in October, having been ratified by their parliaments.
  
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• Judge delays decision on Caesars bankruptcy protocols

  06-05-2015 20:19
  CHICAGO, May 6 (Reuters) - The bankrupt operating unit of
  casino company Caesars Entertainment Corp agreed to grant
  creditors access to records through an independent examiner
  probing pre-bankruptcy...
  
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• Ex-Tory Leader Howard Holds Quindell Talks

  06-05-2015 20:09 via news.yahoo.com
  
  Lord Howard, the former Conservative Party leader, is in talks to join the board of Quindell, one of the London stock market's most controversial companies. Sky News can reveal that Lord Howard has been approached about a non-executive directorship at the professional services group, which was once valued at more than £2bn. Quindell, which has seen its share price slump after a series of governance scandals, is seeking to refresh its board in an attempt to rebuild investor confidence. If i
  
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• Italian businessman steps in as white knight to save Borsalino

  06-05-2015 20:03
  MILAN, May 6 (Reuters) - Italian businessman Philippe
  Camperio is spearheading efforts to rescue troubled luxury hat
  maker Borsalino after it lost millions of euros in 2013, the
  company said on...
  
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• April's oil price bounce trips up some hedge funds

  06-05-2015 20:02
  (Reuters) - The strongest month for oil in six years was not great for some hedge funds whose bets on deeper market declines were frustrated by the April rally.
  
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• Nuclear deal can make Iran region's 'No.1' energy power

  06-05-2015 19:59 via news.yahoo.com
  
  A nuclear agreement will allow Iran to become the number one energy player in the Middle East and herald major opportunities for foreign companies, top government officials in Tehran said Wednesday. The remarks, at an industry event, underlined the broader political and economic implications should sanctions on Iran be lifted under a deal, following long-running diplomatic efforts with six world powers. Iran has the world's fourth largest proven oil reserves and the second biggest gas depos
  
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• Brazil industrial production down 4.7 pc over 12 months

  06-05-2015 19:57 via news.yahoo.com
  
  Brasília (AFP) - Brazil's industrial production has dropped 4.7 percent over 12 months after slipping in March by 0.8 percent amid a sharp downturn in the world's seventh-largest economy, official figures showed Wednesday. Brazil is enduring a fifth straight year of low growth -- last year saw GDP grow by just 0.1 percent and this year is set to see a contraction of around 1.0 percent, the Central Bank and International Monetary Fund agree. "With the March 2015 result, industrial
  
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• Serbia to end protection for indebted state firms - prime minister

  06-05-2015 19:30
  BELGRADE, May 6 (Reuters) - Serbia will not ask the
  International Monetary Fund to let it continue protecting
  indebted state-operated firms from creditors, Prime Minister
  Aleksandar Vucic said on...
  
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• Tightest UK election in a generation goes down to the wire

  06-05-2015 19:18 via news.yahoo.com
  
  By Andrew Osborn LONDON (Reuters) - A late burst of opinion polls suggested on Wednesday that Conservative Prime Minister David Cameron and Labour challenger Ed Miliband had fought each other to a standstill on the eve of Britain's most unpredictable election in a generation. The stakes are high because of a rare confluence of factors which mean Britain's future in the European Union, as well as its national cohesion, could hinge on the result. "We can achieve an overall majority
  
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• Ex-FDIC head Sheila Bair named president of Maryland college

  06-05-2015 19:16 via news.yahoo.com
  
  (Reuters) - Sheila Bair, an outspoken critic of Wall Street during her time as chairman of the Federal Deposit Insurance Corp, has been named president of a liberal arts college near Baltimore. Bair, 61, will become the first female president of Washington College in Chestertown, Maryland, when she takes up the position on Aug. 1. Appointed to lead the FDIC by President George W. Bush in 2006, Bair was one of the first officials to warn about a subprime mortgage crisis but clashed often with tho
  
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• London stocks undecided on eve of election

  06-05-2015 19:15 via news.yahoo.com
  
  London's stock market finished with a small gain Wednesday on the eve of Britain's most unpredictable election in living memory, while eurozone stocks managed to rise despite the euro spiking higher. London's benchmark FTSE 100 index eeked out a 0.09 percent gain to 6,933.74 points despite fears the election could result in weeks of brinksmanship as the two major parties struggle to cobble together workable coalitions. "The topsy-turvy markets seen in recent weeks have been p
  
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• Fed Chair Yellen says stock market prices 'quite high'

  06-05-2015 18:57 via news.yahoo.com
  
  WASHINGTON (AP) — Federal Reserve Chair Janet Yellen on Wednesday described stock market valuations as high and said the central bank was carefully monitoring their impact on financial stability.
  
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• Record Canada trade deficit masks non-energy export strength

  06-05-2015 18:53 via news.yahoo.com
  
  By Randall Palmer OTTAWA (Reuters) - A record Canadian trade deficit in March caused by plunging oil prices has masked an encouraging trend - strength in non-energy exports that the central bank is counting on to revive economic growth. The report on Tuesday showing gains for sectors like auto parts and forestry, combined with encouraging outlooks from some company executives, suggest the Bank of Canada's forecast of an export-driven pickup in growth later this year is taking shape. Auto pa
  
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• Inflation tops 60 percent in conflict-hit Ukraine

  06-05-2015 18:41 via news.yahoo.com
  
  Annual inflation in strife-torn Ukraine soared to some 61 percent in April, the state statistics agency said Wednesday, as the conflict in the east of the country continued to roil the stricken economy. The turmoil in Ukraine has brutalised the country's already faltering economy and the World Bank has predicted that GDP will plummet by some 7.5 percent this year. Ukraine is being propped up by a $17.5 billion financial bailout plan from the International Monetary Fund and has received some
  
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• EU unveils digital strategy, aims to break US web firms' market grip

  06-05-2015 18:41 via news.yahoo.com
  
  By Julia Fioretti BRUSSELS (Reuters) - The EU unveiled plans to shake up rules for online services in the hope that breaking down borders can revive the bloc's economy, but risks accusations of trying to throw up new barriers to the U.S. firms that dominate its market. With some fanfare, the European Commission presented a range of broad policy proposals on Wednesday. They range from possible new regulation for Web platforms like Google and Facebook to popular plans for cutting delivery cos
  
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• European shares end lower on poor U.S. data, firmer euro

  06-05-2015 18:40 via news.yahoo.com
  
  European shares ended lower on Wednesday, surrendering early gains as a rally in the euro and a fall on Wall Street prompted investors to trim their trading positions. The FTSEurofirst 300 index of top shares finished 0.5 percent weaker at 1,547.72 points after rising as high as 1,562.18 earlier in the session following strong euro zone services data and some encouraging corporate results. "The euro is strengthening and that has taken some of the earlier tailwinds away from the market," Gerhard
  
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• T. Rowe's Kennedy handing off CEO job to onetime football star Stromberg

  06-05-2015 18:36
  (Reuters) - Asset manager T. Rowe Price Group Inc said on Wednesday that global equity head William Stromberg, a member of the College Football Hall of Fame, will become its chief executive on Jan....
  
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• U.S. private payrolls growth eases; productivity falls

  06-05-2015 18:25 via news.yahoo.com
  
  U.S. private employers in April hired the fewest number of workers in more than a year, further diminishing hopes of a strong rebound in economic growth after the first-quarter slump. The tepid private job gains combined with other data on Wednesday showing a second straight quarterly decline in productivity make it less likely the U.S. Federal Reserve will raise interest rates in June as had been expected at the start of the year. Private payrolls increased 169,000 last month, the smallest gain
  
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• US stocks falling after weak jobs data; oil prices rise

  06-05-2015 18:23 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks fell broadly in noon trading Wednesday after the release of weak U.S. economic reports. Yields on U.S government bond yields rose to their highest level in two months and oil prices continued to climb. Seven of the 10 industry sectors of the Standard and Poor's 500 index were lower, led by telecommunications companies.
  
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• Europe stocks close with small gains

  06-05-2015 18:21 via news.yahoo.com
  
  Paris (AFP) - Europe's main stock markets closed with gains on Wednesday after a day of seesaw trading as the euro rose sharply against the dollar.
  
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• Britain's FTSE boosted by PMI before election

  06-05-2015 18:12
  * Last day of campaigning before British election (Adds detail, updates prices)
  
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• US stocks slipping after weak economic data; oil prices rise

  06-05-2015 18:02 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks are drifting lower in midday trading following some weak reports on the U.S. economy.
  
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• IMF's Lagarde: Bankers' pay needs reform

  06-05-2015 17:58 via news.yahoo.com
  
  International Monetary Fund Managing Director Christine Lagarde called Wednesday for more reform to bankers' compensation, saying they are still encouraged by their pay packages to take too much risk. "Incentives related to compensation practices need to change, so that rewards are no longer so much tied to myopic actions and excessive risk taking," she told a forum co-hosted by the Institute for New Economic Thinking in Washington. "Compensation packages can be structured to
  
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• UPDATE 3-Wendy's revamped restaurants drive comparable sales beat

  06-05-2015 17:57
  * Shares rise as much as 7 pct (Adds details, analyst comment; updates shares)
  
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• Standard Chartered bank says London HQ under review

  06-05-2015 17:44 via news.yahoo.com
  
  Standard Chartered said Wednesday its London headquarters remained under review as the Asia-focused bank mulls Britain's increased regulation and taxation on the eve of a general election. "We continue to keep our UK domicile under review," Chairman John Peace told investors at the group's annual general meeting in London, ahead of a knife-edge election fought largely over the economy. Peace indicated that the two main factors for the bank were the nation's regulatory la
  
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• European shares slip on firmer euro, poor U.S. data

  06-05-2015 16:57 via news.yahoo.com
  
  European shares fell late on Wednesday, surrendering early gains as a rally in the euro and a fall on Wall Street prompted investors to trim their trading positions. The FTSEurofirst 300 index of top shares was down 0.5 percent at 1,547.09 points by 1442 GMT after rising as high as 1,562.18 earlier in the session following strong euro zone services data and some encouraging corporate results. "The euro is strengthening and that has taken some of the earlier tailwinds away from the market," Gerha
  
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• London traders eyeing long election night, maybe longer weekend

  06-05-2015 16:55 via news.yahoo.com
  
  By Nigel Stephenson LONDON (Reuters) - After a five-week campaign that has left Britain's two main parties neck and neck going into Thursday's general election, London's dealing rooms are bracing for days rather than hours of uncertainty. Banks' financial trading desks traditionally increase staff on election nights to handle impromptu buying and selling of UK stocks, bonds or sterling as election results start streaming in late on polling day itself and into the early hours
  
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• SIM sales soar as Myanmar races to catch up in telecoms

  06-05-2015 16:44 via news.yahoo.com
  
  By Jared Ferrie YANGON (Reuters) - Myanmar, long one of the world's least connected nations in terms of telecommunications, is now racing to catch up, providing a boost to the foreign mobile companies allowed into the country last year. The number of mobile phone SIM cards in the south-east Asian country of 51 million people has shot up to more than 18 million from around one million just three years ago, according to data compiled by Reuters. "The Myanmar economy has had more money in
  
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• South Africa's rand gains, economy woes offset by weak dollar

  06-05-2015 16:44 via news.yahoo.com
  
  South Africa's rand held on to gains against the dollar on Wednesday despite a fall in domestic consumer confidence, as the greenback came under pressure from poor U.S. trade data. The currency briefly breached the key 12/$ mark after data showed South Africa's consumer confidence slumped in the first quarter of 2015, weighed down mainly by chronic power shortages that have blotted the economic outlook. "The one number that might have slightly dented the rand is our consumer confi
  
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• London stocks advance on eve of election

  06-05-2015 16:38 via news.yahoo.com
  
  London's stock market advanced Wednesday despite uncertainty about Britain's upcoming general election, while eurozone stocks were mixed following sharp losses the previous day on a strong euro. London's benchmark FTSE 100 index climbed 0.38 percent to 6,954.04 points on the eve of Britain's most unpredictable election in living memory, with fears of weeks of brinksmanship as the two major parties struggle to cobble together workable coalitions. "UK and European markets
  
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