Finance news

• DoubleLine's Gundlach: Puerto Rico munis not a 'big bet' for firm

  12-05-2015 23:59
  
  NEW YORK (Reuters) - Jeffrey Gundlach, chief executive of investment firm DoubleLine Capital, said Puerto Rico municipal bonds represent about 1 percent of his DoubleLine closed-end fund.
  
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• Fed mulled supporting key debt market in case of U.S. default

  12-05-2015 23:36 via news.yahoo.com
  
  The Federal Reserve investigated how it could keep a massive short term lending market from freezing up if America defaulted on its debt, according to a person familiar with planning that was done by the New York Fed. The person, who asked not to be identified, told Reuters on Tuesday that officials researched whether they could lend support to the triparty repo market, which is one of the pillars of short-term lending on Wall Street. The comments follow the revelation on Monday that congression
  
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• Hedge fund JAT Capital returning money to outside investors

  12-05-2015 23:29
  
  BOSTON (Reuters) - Hedge fund JAT Capital Management is returning money to outside investors to restructure itself as a family office, a person familiar with the $1.7 billion firm said on...
  
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• TSX tracks global markets lower in broad retreat

  12-05-2015 23:17 via news.yahoo.com
  
  By Alastair Sharp TORONTO (Reuters) - Canada's main stock index fell sharply on Tuesday, tracking global equities, as volatility in bond markets and other worries rattled investors worldwide. "There's a lot of uncertainty and until we get through that period, we're just going to have to suffer this," said RKH Investments Chief Operating Officer Rick Hutcheon. The Toronto Stock Exchange's S&P/TSX composite index gave up 109.49 points, or 0.72 percent, to end the
  
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• Exclusive: Cablevision to drop $1 bid for NY Daily News - source

  12-05-2015 23:09
  
  NEW YORK (Reuters) - It was one dollar too much for Cablevision Systems Corp . The cable company is planning to pull out of the auction process for the New York Daily News after spending hundreds of...
  
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• Christie calls for tax cuts in economic policy speech

  12-05-2015 21:57 via news.yahoo.com
  
  NEWARK, N.J. (AP) — New Jersey Gov. Chris Christie proposed cutting income and corporate tax rates Tuesday as part of a plan to return the U.S. "to its pro-growth roots and its pro-growth policies" and bolster the middle class.
  
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• New hedge fund Clearfield Capital launched with $500 million

  12-05-2015 21:45
  
  BOSTON (Reuters) - Clearfield Capital Management, a new hedge fund which received a personal investment from billionaire investor William Ackman, began its investment operations this month with...
  
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• Alberta premier-elect says royalty review coming in current term

  12-05-2015 21:05 via news.yahoo.com
  
  By Scott Haggett CALGARY, Alberta (Reuters) - Rachel Notley, premier-elect of the Canadian province of Alberta, the largest source of U.S. oil imports, said on Tuesday her newly elected government intends to hold its promised review of royalty rates for oil and gas producers in its current term. Notley, whose left-wing New Democratic Party last week ended the 44-year rule of the right-wing Progressive Conservatives, said the dates for the review have not yet been set, nor has the timing of her g
  
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• Republican Chris Christie slams Obama, Fed on economy

  12-05-2015 20:52 via news.yahoo.com
  
  By Lisa Lambert and Amanda Becker WASHINGTON (Reuters) - Possible Republican presidential candidate Chris Christie on Tuesday said the policies of President Barack Obama and the Federal Reserve had widened the gulf between rich and poor. Christie, who is governor of New Jersey, said Obama's monetary and regulatory policies have stymied economic growth by allowing financial assets to grow substantially in value while wages have stagnated.
  
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• Union calls on New Jersey Attorney General to probe Herbalife

  12-05-2015 20:50 via news.yahoo.com
  
  A union representing workers in New Jersey gambling hub Atlantic City said on Tuesday it asked the state's top prosecutor to investigate Herbalife Ltd, saying it is worried the nutrition supplements company could "prey" on unemployed workers in the casino industry. Unite Here Local 54 is the latest group to ask officials across the United States to probe Herbalife over widespread allegations that it is running a pyramid scheme. "We are... concerned about the potential for Her
  
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• Global bond worries push Wall Street lower

  12-05-2015 20:33 via news.yahoo.com
  
  Stocks indexes had earlier fallen to their lowest in about a week but recovered some of those losses after Treasury yields ticked down slightly from six-month highs. "In the short term, the market is a hostage to interest rates, said Jim Awad, managing director at Plimsoll Mark Capital. At 2:02 p.m. the Dow Jones industrial average fell 25.83 points, or 0.14 percent, to 18,079.34, the S&P 500 lost 4.77 points, or 0.23 percent, to 2,100.56 and the Nasdaq Composite dropped 9.72 points, or
  
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• US STOCKS-Global bond worries push Wall Street lower

  12-05-2015 20:31 via news.yahoo.com
  
  U.S. stocks were down on Tuesday afternoon as a recent run-up in global bond yields unsettled investors already concerned about an eventual Federal Reserve interest rate hike. Stocks indexes had earlier fallen to their lowest in about a week but recovered some of those losses after Treasury yields ticked down slightly from six-month highs.
  
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• AT&T-DirecTV deal unlikely to be blocked: WSJ

  12-05-2015 20:22 via news.yahoo.com
  
  (Reuters) - AT&T Inc's $49-billion bid for DirecTV is unlikely to be blocked by U.S. authorities, the Wall Street Journal reported, citing people familiar with the matter. Regulators at both the Justice Department and the Federal Communications Commission (FCC) are nearing a decision that is poised to clear the deal with some conditions, people familiar with the review had previously told Reuters. AT&T has not yet met with FCC reviewers to hash out the details of those conditions, b
  
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• In Washington, NYC mayor touts national liberal vision

  12-05-2015 20:11 via news.yahoo.com
  
  WASHINGTON (AP) — New York City Mayor Bill de Blasio, fashioning himself as one of the left's loudest voices on economic causes, appeared with Sen. Elizabeth Warren in Washington on Tuesday in what was the highest-profile stop yet in his national tour to tout the need to fight income inequality.
  
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• Lagging defensive stocks a bullish sign -Oppenheimer

  12-05-2015 20:09
  
  NEW YORK (Reuters) - Underperformance among defensive shares in sectors such as utilities, healthcare and consumer staples is a bullish sign for equities as investors move towards risk, according to...
  
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• Accused Russian spy's U.S. legal fees paid by Moscow-owned bank

  12-05-2015 19:48 via news.yahoo.com
  
  By Joseph Ax NEW YORK (Reuters) - A state-owned Russian bank is paying for the legal defense of an employee charged with posing as a banker in New York while secretly spying for Moscow, his lawyer confirmed on Tuesday. Evgeny Buryakov and two other Russian citizens, Igor Sporyshev and Victor Podobnyy, are accused of conspiring to gather economic intelligence on behalf of Russia, including information about U.S. sanctions against the country, and to recruit New York City residents as intelligence
  
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• UPDATE 1-Germany's EnBW named as preferred bidder for Prokon

  12-05-2015 19:36
  * Confirms Reuters story of May 11(Adds detail on bidding procedure and background)
  
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• AT&T-DirecTV deal unlikely to be blocked by regulators: WSJ

  12-05-2015 19:32 via news.yahoo.com
  
  The Justice Department and Federal Communications Commission have nearly finished their reviews, the Wall Street Journal reported. AT&T, the second-largest U.S. wireless provider, in May last year offered to buy DirecTV, the biggest satellite TV provider, to create the largest U.S. pay TV company. AT&T and DirecTV were not immediately available for comment. DirecTV's shares were up 1.3 percent on Tuesday afternoon, while AT&T's were up marginally after the report.
  
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• U.S. Senator's bill targets Fed, bank and mortgage rules

  12-05-2015 19:19 via news.yahoo.com
  
  By Michael Flaherty WASHINGTON (Reuters) - A draft Republican bill in the U.S. Senate takes aim at bank rules and insurance regulations, also limiting restrictions on mortgage requirements and proposes restructuring the Federal Reserve and other financial regulators. The 216-page, eight section report released on Tuesday was crafted by the staff of Senator Richard Shelby of Alabama who chairs the Senate Committee on Banking and has made easing rules for small banks and imposing reforms on financ
  
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• Wall Street regulator FINRA toughens its sanctions guidelines

  12-05-2015 19:10
  
  (Reuters) - Wall Street's self-policing body unveiled tough new sanctions guidelines on Tuesday that call for stricter penalties against securities brokerages and individual brokers who commit fraud...
  
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• Exclusive - PAI eyes 3.5 billion euro disposal of cargo firm Swissport as soon as year end: sources

  12-05-2015 19:09 via news.yahoo.com
  
  By Freya Berry and Arno Schuetze LONDON/FRANKFURT (Reuters) - European private equity firm PAI is looking to launch a sale or stock market listing of aeroplane cargo handler Swissport as soon as the end of this year, four sources familiar with the matter said on Tuesday. Zurich-based Swissport says it is the world's largest aviation handling company. Swissport did not immediately respond to requests for comment.
  
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• In auction for RadioShack name, bid stands at $15 mln

  12-05-2015 18:43
  SAN FRANCISCO, May 12 (Reuters) - The auction for bankrupt
  electronic retailer RadioShack's name and customer data will
  resume on Tuesday with bidding at $15 million, according to a
  lawyer tracking...
  
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• Christie calling for tax cuts in economic policy speech

  12-05-2015 18:32 via news.yahoo.com
  
  NEWARK, N.J. (AP) — New Jersey Gov. Chris Christie proposed cutting income and corporate tax rates Tuesday as part of an economic plan to return the U.S. "to its pro-growth roots and its pro-growth policies."
  
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• Small business confidence perks up; jobs market solid

  12-05-2015 18:17 via news.yahoo.com
  
  U.S. small business owners gained confidence in April and were surprisingly bullish about capital expenditure plans, further supporting views that economic growth was rebounding after a dismal first quarter. The National Federation of Independent Business said on Tuesday its Small Business Optimism Index rose 1.7 points to 96.9 last month. The data add to the evidence that the weakening in growth in first quarter was largely due to 'transitory' factors," said Jim O'Sullivan,
  
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• British PM re-appoints Lidington as Europe minister

  12-05-2015 18:10
  LONDON, May 12 (Reuters) - British Prime Minister David Cameron has re-appointed David Lidington as Europe Minister in the Foreign Office, Downing Street said on Tuesday.
  
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• US STOCKS-Wall St pares early losses as US Treasuries rebound

  12-05-2015 18:09
  * Indexes down: Dow 0.2 pct, S&P 0.3 pct, Nasdaq 0.4 pct (Adds details, changes comment, updates prices)
  
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• MOVES-Lloyds Bank strengthens US financial institutions team

  12-05-2015 18:05
  May 12 (Reuters) - Lloyds Bank Commercial Banking, unit of Lloyds Banking Group Plc, appointed Michael Zentz and Yomi Akinyemi to its U.S. financial institutions team in New York.
  
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• Market overview: Stocks trim losses as US Treasuries gain

  12-05-2015 18:01 via news.yahoo.com
  
  1559: The FTSE has bounced off its lows of the day (6,887.52) and is now trading down 91 points (-1.3%) at 6,939 as stocks on Wall Street erase losses. US Treasury yields, which had shot up to a high of ...
  
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• Verizon, Sprint to pay millions over unauthorized phone charges

  12-05-2015 18:00
  WASHINGTON, May 12 (Reuters) - Verizon Communications Inc will pay $90 million and Sprint Corp will pay $68 million to settle federal government probes into unauthorized charges tacked onto their...
  
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• US Senate Banking bill takes aim at Fed, GSEs, mortgage rules

  12-05-2015 18:00
  WASHINGTON, May 12 (Reuters) - The Senate Banking Committee on Tuesday released a draft of its regulation relief bill, which proposes easing rules for small banks, limiting restrictions on mortgage...
  
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• UPDATE 2-Weak Mexico industrial output pressures gov't GDP forecast

  12-05-2015 17:59
  MEXICO CITY, May 12 (Reuters) - Mexican industrial output unexpectedly stagnated in March compared with February, dampening growth hopes and putting pressure on the government's forecast for a third...
  
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• G7 energy ministers upbeat on Paris climate deal

  12-05-2015 17:56 via news.yahoo.com
  
  HAMBURG/BERLIN (Reuters) - Energy ministers from the Group of Seven industrial nations said on Tuesday there was unprecedented consensus among them on the urgency of limiting climate change, markedly improving prospects for a U.N. climate deal in Paris later this year. Almost 200 nations will gather in Paris from the end of November to try and agree a new worldwide agreement to curb greenhouse gas emissions and limit the rise in average global temperatures to two degrees Celsius (3.6 Fahrenheit)
  
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• EasyJet slumps as bond market sell-off hits Britain's FTSE

  12-05-2015 17:54
  LONDON, May 12 (Reuters) - Britain's top share index slid lower on Tuesday, weighed down by airline easyJet as a global bond sell-off hit markets and ensured that optimism after a decisive British...
  
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• WHO findings on weed killer will not speed up EU safety review

  12-05-2015 17:48
  BRUSSELS, May 12 (Reuters) - EU regulators will not accelerate a decision on whether to restrict use of the world's most widely used weed killer, even though it has been linked to cancer by the World...
  
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• ConocoPhillips shareholders approve proxy access proposal

  12-05-2015 17:48
  HOUSTON, May 12 (Reuters) - ConocoPhillips' shareholders on Tuesday voted for a non-binding proposal allowing minority shareholders to nominate directors to its board.
  
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• GLOBAL MARKETS-German bund yields climb, lift euro; stocks decline

  12-05-2015 17:42
  * Oil prices rise (Updates with U.S. market openings, changes dateline, previous LONDON)
  
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• UPDATE 1-Bond selloff gives ECB asset-buying scheme a shot in the arm

  12-05-2015 17:38
  * Share of euro govt bonds with negative yields falls to 25.2 pct
  
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• GM cuts vehicle prices on 40 models in China

  12-05-2015 17:38
  DETROIT, May 12 (Reuters) - General Motors Co has cut vehicle prices in China after sales fell last month in the world's largest automotive market.
  
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• UPDATE 2-Exor sweetens offer for PartnerRe to $137.5 per share

  12-05-2015 17:36
  * Exor files proxy documents to solicit vote against Axis proposal (Adds details, Axis, PartnerRe, updates shares)
  
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• Financier Lynn Tilton wants U.S. judge to block SEC fraud case

  12-05-2015 17:31
  
  NEW YORK (Reuters) - A lawyer for New York financier Lynn Tilton urged a U.S. judge on Monday to block the U.S. Securities and Exchange Commission from trying her before an administrative judge for...
  
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• Boeing commercial airplane CEO says 737 output can hit 60 a month

  12-05-2015 17:30
  NEW YORK, May 12 (Reuters) - Boeing Commercial Airplanes Chief Executive Ray Conner said on Tuesday the planemaker has the capability to produce 60 of its 737 jetliners a month, putting forth a...
  
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• BRIEF-ConocoPhillips shareholders approve proxy access proposal

  12-05-2015 17:28
  * Conocophillips ceo says company still taking time to digest u.s. Regulations around arctic drilling Source text for Eikon: Further company coverage: (Reporting by Anna Driver)
  
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• Swiss banking to flourish after tax crackdown, HSBC executive says

  12-05-2015 17:26
  
  ZURICH (Reuters) - Switzerland's banks will benefit from the global crackdown on tax avoidance, the president of the country's association of foreign banks and head of HSBC's Swiss private banking...
  
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• Wage growth may be on tap as more Americans quit jobs

  12-05-2015 17:20
  * Wage growth follows rise in quit rate by 6-12 months -Fed paper
  
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• European shares fall as bond market sell-off rattles investors

  12-05-2015 17:18
  LONDON, May 12 (Reuters) - European shares fell sharply on Tuesday as a sell-off in global bond markets led investors to trim their exposure to risk.
  
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• Italy to help banks on soured credit in June but bad bank plan stalled- source

  12-05-2015 17:17
  ROME, May 12 (Reuters) - Italy aims to unveil a decree by end-June allowing banks to seize collateral on bad loans more quickly, a move aimed at helping banks cut piles of souring credit that is...
  
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• Euro zone yields jump as bond markets still in shock

  12-05-2015 17:15
  * One-sided positioning and poor liquidity exacerbating moves (Updates prices)
  
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• UPDATE 1-Wall Street regulator FINRA toughens its sanctions guidelines

  12-05-2015 17:11
  WASHINGTON, May 12 (Reuters) - Wall Street's self-policing body unveiled tough new sanctions guidelines on Tuesday that call for stricter penalties against defendants who commit fraud or violate...
  
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• Mexico cenbank sells $52 mln at 15.3162 pesos at daily auction

  12-05-2015 17:08
  MEXICO CITY, May 12 (Reuters) - The central bank of Mexico sold $52 million on Tuesday at an average price of 15.3162 pesos per dollar, the bank said, part of an auction program to boost foreign...
  
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• Britain could hold EU vote earlier than end of 2017

  12-05-2015 17:08 via news.yahoo.com
  
  By William James and Kylie MacLellan LONDON (Reuters) - Prime Minister David Cameron will hold an early referendum on membership of the European Union if he can first reach a deal that satisfies his demands for major changes in Britain's relationship with the bloc, his spokesman said on Tuesday. Cameron, who won a majority in Thursday's general election, has pledged to renegotiate Britain's ties with Europe and then give voters an in-out referendum on EU membership by the end of 2
  
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