Finance news

• UPDATE 3-Consumer review website operator Yelp exploring sale - WSJ

  07-05-2015 23:49
  May 7 (Reuters) - Yelp Inc, the operator of consumer review website Yelp.com, is exploring a sale that could fetch more than $3.5 billion, the Wall Street Journal reported, citing people familiar...
  
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• Bombardier may eventually seek partnership for rail unit: CEO

  07-05-2015 23:22
  
  MONTREAL (Reuters) - Bombardier Incmay in the long run take on a partner or investor in the rail unit it is preparing to take public as it decides how best to respond to rail industry...
  
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• Diminishing returns from financial deepening: James Saft

  07-05-2015 22:51
  (Reuters) - Like so many things it is easy to get a taste for, beyond a certain point, financial development brings diminishing returns and rising costs.
  
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• Wall Street ends stronger as global debt worries fade

  07-05-2015 22:39 via news.yahoo.com
  
  Strong quarterly results from Alibaba as well as speculation that consumer review website Yelp.com could be for sale drove technology stocks higher, with the S&P tech index up 0.87 percent. The number of Americans filing new claims for unemployment benefits held near a 15-year low last week, suggesting positive momentum in the economy, but not so much as to change expectations for a September interest rate hike by the Federal Reserve. A recent run-up in global interest rates that has worried
  
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• Dogs, guns and weddings help U.S. investors take economy's pulse

  07-05-2015 22:24
  
  (Reuters) - When Kim Forrest attends dog shows, she is there not just for her two wirehaired pointing griffons. She is also doing research for her day job as a portfolio manager and equity...
  
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• Bond selloff cools, Wall Street rebounds

  07-05-2015 22:21 via news.yahoo.com
  
  By Richard Leong NEW YORK (Reuters) - The global bond market rout slowed on Thursday as long-term borrowing costs retreated from their highest levels in more than five months, helping to stabilize European stocks and kindle a mild recovery on Wall Street. U.S. Federal Reserve Chair Janet Yellen's warning about high equity valuations on Wednesday added pressure to U.S. stocks ahead of Friday's U.S. jobs report, which may support expectations of a possible Fed rate increase later this ye
  
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• Wall Street rises on easing debt worries

  07-05-2015 22:08 via news.yahoo.com
  
  (Reuters) - U.S. stocks moved higher on Thursday afternoon, helped by a jump in technology stocks and a reversal in surging global interest rates. The Dow Jones industrial average rose 82.12 points, or 0.46 percent, to 17,924.1, the S&P 500 gained 7.85 points, or 0.38 percent, to 2,088 and the Nasdaq Composite added 25.90 points, or 0.53 percent, to 4,945.54. (Reporting By Sinead Carew; Editing by Nick Zieminski)
  
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• Monsanto and Syngenta hire U.S. banks to advise on possible takeover: sources

  07-05-2015 22:00
  
  LONDON/FRANKFURT (Reuters) - Agricultural companies Monsantoand Syngentaare working with investment banks on a takeover deal that would create an industry behemoth with combined sales of more...
  
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• What is the economic value of a college major?

  07-05-2015 21:33
  
  NEW YORK (Reuters) - With university tuition and student debt at record highs, many people wonder if it is worth it to go to college.
  
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• UPDATE 1-Vanguard CEO McNabb says Fed to raise rates in small steps - CNBC

  07-05-2015 21:17
  NEW YORK, May 7 (Reuters) - Vanguard Chief Executive Officer Bill McNabb, speaking on CNBC on Thursday, said that the U.S. Federal Reserve will raise short-term interest rates in a "fairly steady,...
  
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• EU to resume trade dispute talks with US: Commissioner

  07-05-2015 21:14 via news.yahoo.com
  
  The EU's top trade official on Thursday said fraught talks over the most controversial aspect of a massive free trade treaty with the United States would resume later this year. There has been deep concern in the EU over the Transatlantic Trade and Investment Partnership (TTIP), with much of the focus on an investment arbitration tribunal which Washington sees as a key element in any final accord. "We hope we can reopen this by the fall when we have a good European proposal," EU T
  
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• Chinese company treats 6,400 employees to French holiday

  07-05-2015 21:02 via news.yahoo.com
  
  China's Tiens Group Co. Ltd is treating more than half of its 12,000 employees to a four-day holiday in France and has booked up 140 hotels in the capital Paris as part of the package, a French Foreign Ministry spokeswoman said on Thursday. The spokeswoman said the company's chairman Li Jinyuan met Foreign Minister Laurent Fabius on Wednesday and "the group will be in Nice tomorrow and the day after". France, which is struggling to revive its economy, is the most visited coun
  
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• Vanguard CEO McNabb says Fed to raise rates in small steps -CNBC

  07-05-2015 20:45
  NEW YORK, May 7 (Reuters) - Vanguard Chief Executive Officer Bill McNabb, speaking on CNBC on Thursday, said that the Federal Reserve will raise short-term interest rates in a "fairly steady,...
  
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• Wall Street climbs as global debt worries recede

  07-05-2015 20:41 via news.yahoo.com
  
  Strong quarterly results from Alibaba as well as speculation that consumer review website Yelp.com could be for sale drove technology stocks higher, with the S&P tech index up 0.87 percent. The number of Americans filing new claims for unemployment benefits held near a 15-year low last week, suggesting positive momentum in the economy, but not so much as to change expectations for a September interest rate hike by the Federal Reserve. A recent run-up in global interest rates that has worried
  
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• Italy 2015 budget problems mount over court pensions ruling

  07-05-2015 20:31
  ROME/BRUSSELS May 7 (Reuters) - Italy's public finance difficulties look to be increasing after a recent court ruling overturned a cash-saving pensions reform and imposed costs that will show up in...
  
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• E-commerce giant Flipkart in no rush to go public

  07-05-2015 20:25 via news.yahoo.com
  
  By Nivedita Bhattacharjee and Clara Ferreira-Marques BENGALURU (Reuters) - India's biggest e-commerce firm Flipkart will remain private for the next three years at least, its chief financial officer said, nixing speculation that it would launch this year an IPO that some bankers had expected to raise a record $5 billion. Flipkart, an online marketplace that analysts estimate to be worth $11 billion, has benefited from the foreign funds that have sloshed into India's rapidly growing onl
  
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• Votorantim unit clinches first Brazil bond offering since November

  07-05-2015 20:17
  SAO PAULO, May 7 (Reuters) - Votorantim Cimentos SA on Thursday became the first Brazilian company to tap international bond markets since November, after clinching the sale of 500 million euros...
  
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• Huawei undeterred by Nokia's Alcatel-Lucent deal

  07-05-2015 20:09
  
  BRUSSELS (Reuters) - China's Huawei Technologies [HWT.UL] is undeterred by the merger of telecoms equipment rivals Nokia and Alcatel-Lucent and will keep growing in Europe, its rotating Chief...
  
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• UPDATE 2-Goldman Sachs must face $120 mln suit over mortgage securities -court

  07-05-2015 20:03
  May 7 (Reuters) - New York's top state court on Thursday revived a bond insurer's $120 million lawsuit claiming Goldman Sachs Group Inc lied about a pool of securities backed by subprime mortgages...
  
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• Equinix moves to gatecrash Telecity, Interxion deal

  07-05-2015 19:57
  LONDON (Reuters) - British data center provider Telecity Group Plc has opened talks on a possible 2.3 billion pound ($3.5 billion) takeover by Equinix Inc, throwing into doubt Telecity's deal to buy...
  
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• UPDATE 1-Pimco launches new capital securities and financials fund

  07-05-2015 19:51
  NEW YORK, May 7 (Reuters) - Bond giant Pimco rolled out on Thursday the Pimco Capital Securities and Financials Fund, which will invest in capital securities, including subordinated bonds, preferred...
  
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• Germany eyes modest tax cut next year

  07-05-2015 19:51 via news.yahoo.com
  
  Germany's finance minister said Thursday he would cut taxes from next year after experts forecast a nearly 40-billion-euro ($45-billion) tax windfall for Europe's top economy over the next five years. Finance Minister Wolfgang Schaeuble said the extra money provided room to reform the phenomenon of tax bracket creep where employees who get pay rises slip into higher tax groups, making their net pay lower than before. The revision aims to provide around 1.5 billion euros in tax relief i
  
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• Pimco launches new capital securities and financials fund

  07-05-2015 19:36
  May 7 (Reuters) - Bond giant Pimco rolled out on Thursday the Pimco Capital Securities and Financials Fund, which will invest in capital securities, including subordinated bonds, preferred shares and...
  
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• Wall Street higher on positive jobs data; tech stocks rebound

  07-05-2015 19:34 via news.yahoo.com
  
  U.S. stocks moved higher on Thursday afternoon, helped by strong results from Alibaba, a rebound in tech stocks and as upbeat jobless claims data indicated the labor market was improving despite moderate economic growth. The three major indices were poised to end two straight sessions of losses, exacerbated on Wednesday by Federal Reserve Chair Janet Yellen's comments that equity valuations "generally are quite high". The number of Americans filing new claims for unemployment bene
  
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• Wall St. higher on positive jobs data; tech stocks rebound

  07-05-2015 19:30 via news.yahoo.com
  
  The three major indices were poised to end two straight sessions of losses, exacerbated on Wednesday by Federal Reserve Chair Janet Yellen's comments that equity valuations "generally are quite high". "A lot of the market is really focused on Friday's payroll report which should give us a good indication if the weak first-quarter data was really due to just weather," said David Carter, chief investment officer at Lenox Wealth Advisors in New York. Wall Street had a
  
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• SABMiller shares rise on takeover talk, AB InBev cited

  07-05-2015 19:28
  
  LONDON (Reuters) - Shares of brewer SABMillerrose more than 3 percent on Thursday, with traders citing a revival of talk of a possible takeover bid from rival Anheuser-Busch InBev .
  
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• Brazil's Levy says fiscal belt-tightening needs to be quick

  07-05-2015 19:24
  BRASILIA, May 7 (Reuters) - Brazilian Finance Minister Joaquim Levy said on Thursday that the government's fiscal adjustment should be done quickly to pave the way for faster economic growth in the...
  
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• Blackstone raises $17 billion for global buyout fund: sources

  07-05-2015 19:22
  
  (Reuters) - Blackstone Group LPhas secured $17 billion from investors for its latest global private equity fund in just seven months, the biggest so-called first close of a buyout fund ever,...
  
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• Consumer review website operator Yelp exploring sale: WSJ

  07-05-2015 19:18 via news.yahoo.com
  
  (Reuters) - Yelp Inc, the operator of consumer review website Yelp.com, is exploring a sale that could fetch more than $3.5 billion, the Wall Street Journal reported, citing people familiar with the matter. The San Francisco-based company is working with investment bankers and it has been in touch with potential buyers in recent weeks, the Journal reported. Yelp could not be immediately reached for comment. A deal isn't imminent, the paper cited one of the people as saying, and it's po
  
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• Lawmaker questions Deutsche's petition following criminal case

  07-05-2015 18:56
  WASHINGTON, May 7 (Reuters) - A key Democrat in the U.S. House of Representatives is calling for a public hearing to vet a request by Deutsche Bank to continue managing retirement accounts, after one...
  
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• Gridlock looms in Britain; last election poll sees no clear winner

  07-05-2015 18:55 via news.yahoo.com
  
  Final opinion polls showed Prime Minister David Cameron's Conservatives and Ed Miliband's opposition Labour Party almost in a dead heat, indicating neither will win enough seats for an outright majority in the 650-seat parliament. "Today is the day we can change Britain." Cameron tweeted: "Today, you can vote for a stable government and a strong economy.
  
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• UPDATE 4-Gridlock looms in Britain; last election poll sees no clear winner

  07-05-2015 18:51
  * GRAPHIC: http://graphics.thomsonreuters.com/15/UK-election/index.html (Adds leaders' tweets, French finance minister)
  
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• Wall Street rises on positive jobs data; tech stocks rebound

  07-05-2015 18:43 via news.yahoo.com
  
  Wall Street rose in late morning on Thursday after choppy trading earlier in the session as U.S. jobless claims came in stronger-than-expected and technology stocks rebounded. The number of Americans filing new claims for unemployment benefits rose marginally last week, staying near a 15-year low in a sign that the labor market continues to strengthen despite moderate economic growth. Microsoft and Apple gave the biggest boost to the S&P 500 and the Nasdaq, while Yahoo rose 5.3 percent to $4
  
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• UK markets bet on post-election gyrations, calm for now

  07-05-2015 18:35 via news.yahoo.com
  
  The cost of protection against overnight swings in the British pound jumped to its highest since the last parliamentary elections in 2010 on Thursday as Britons headed to vote in the most unpredictable poll for decades. A rise in currency and stock market option volatility indexes reflected uncertainty stemming from the vote, and Britain's top share index closed weaker than its European peers. Polls have shown the ruling Conservatives and opposition Labour Party neck-and-neck, making a "hung par
  
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• Spotify plans to enter Web video business - WSJ

  07-05-2015 18:35 via news.yahoo.com
  
  (Reuters) - Music streaming service Spotify is laying plans to enter the Web video business and has been in discussions with several digital media players about potential partnerships, the Wall Street Journal said, citing people familiar with the matter. The company has been reaching out to companies that specialise in making content for Google Inc's YouTube to discuss both acquiring their material and co-creating original video series, the Journal said. The company is nearing a deal to rai
  
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• EU digital boss says he 'sure' Russia spied during Gazprom talks

  07-05-2015 18:33 via news.yahoo.com
  
  Spies regularly target the European Commission, the region's digital economy boss said on Thursday, specifically suggesting that Russia had listened in during negotiations last year over gas supplies to Ukraine. "My security experts tell me regularly of attacks from both inside and outside Europe," Guenther Oettinger, Europe's Commissioner for the digital economy, said at an event. During his previous position as EU energy commissioner, Oettinger last year led negotiations between Ukraine and Ru
  
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• Average US rate on 30-year mortgage rises to 3.8 percent

  07-05-2015 18:26 via news.yahoo.com
  
  WASHINGTON (AP) — Average long-term U.S. mortgage rates are up this week to the highest level since mid-March.
  
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• GLOBAL MARKETS-Bond selloff cools; U.S., European stocks stabilize

  07-05-2015 18:15
  * Sterling dips as voters go to polls in national elections (Recasts lead, updates market action, adds fresh quote)
  
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• UPDATE 2-Finland's election winner plans coalition with eurosceptics

  07-05-2015 18:09
  * New ministers may not be announced for weeks (Adds analysis, details, comments from Soini)
  
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• Citi, JPMorgan target market-share gains in equities

  07-05-2015 17:59
  LONDON (Reuters) - U.S. banks Citigroup and JPMorgan Chase expect to gain market share in equities this year, executives told Reuters, pointing to technology investment and new hires as...
  
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• Wall St. rises on positive jobs data; tech stocks rebound

  07-05-2015 17:57 via news.yahoo.com
  
  (Reuters) - Wall Street rose in late morning on Thursday after choppy trading earlier in the session as U.S. jobless claims came in stronger-than-expected and technology stocks rebounded.
  
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• TIMELINE-Key dates in Greece's funding talks with euro zone

  07-05-2015 17:48
  ATHENS/BRUSSELS, May 7 (Reuters) - Greece is running out of cash but despite months of talks has yet to reach a deal on a package of reforms with its creditors that would help unlock more financial...
  
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• Prepare for 'triple taper tantrum' in 2016, says Morgan Stanley

  07-05-2015 17:47 via news.yahoo.com
  
  By Jamie McGeever LONDON (Reuters) - Investors spooked by the "taper tantrum" of 2013, when global markets took fright at the U.S. Federal Reserve's first hint that it might taper its monetary expansion policy, take note: 2016 could be the year of the "triple taper tantrum". "What is unknown is whether the economic situation will pan out as we see it," said Manoj Pradhan, global economist at Morgan Stanley in London and co-author of the report.
  
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• New Issue- Colgate-Palmolive prices 500 mln euro 2019 FRN

  07-05-2015 17:45
  where assigned, and hit the newskey (F9 on Reuters terminals)
  
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• UPDATE 1-U.S. regulator allows more exceptions to lending cap for rentals

  07-05-2015 17:43
  WASHINGTON, May 7 (Reuters) - The regulator for Fannie Mae and Freddie Mac said on Thursday it would exclude more types of loans from borrowing caps to help the market for multifamily housing that is...
  
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• Advent brings IPO of perfume chain Douglas forward - sources

  07-05-2015 17:37
  FRANKFURT, May 7 (Reuters) - Buyout group Advent is bringing forward the planned flotation of German perfume retail chain Douglas, anxious not to miss the right moment for such a deal, which hinges...
  
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• South Africa's rand softens after failing at key resistance

  07-05-2015 17:34 via news.yahoo.com
  
  South Africa's rand eased against the U.S. dollar on Thursday after failing to push through the stubborn 12/$ resistance level, while investors waited for direction from U.S. jobs numbers due in the next session. The weak state of the domestic economy was also in focus after Finance Minister Nhlanhla Nene told parliament a sluggish global recovery and domestic constraints such as power shortages were holding back growth.
  
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• TREASURIES-Prices halt long slide and gain on stocks' weakness

  07-05-2015 17:34
  NEW YORK, May 7 (Reuters) - U.S. Treasuries prices rose on Thursday, getting a lift from weak global equity markets and breaking a long slide in prices that had pushed yields on 30-year bonds to more...
  
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• Jobless claims hover near 15-year low, boost growth outlook

  07-05-2015 17:32 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits held near a 15-year low last week in a sign that the labor market was strengthening despite moderate economic growth. Initial claims for state unemployment benefits rose 3,000 to a seasonally adjusted 265,000 for the week ended May 2, the Labor Department said on Thursday. The sustained strength suggests March's sharp step down in job growth was likely an aberration, and could keep t
  
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• U.S. regulator allows more exceptions to lending cap for rentals

  07-05-2015 17:22
  WASHINGTON, May 7 (Reuters) - The regulator for Fannie Mae and Freddie Mac said on Thursday it would exclude more types of loans from borrowing caps to help the market for multifamily housing that...
  
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