Finance news

• T. Rowe Price closes Health Sciences Fund to new investors

  01-06-2015 23:44
  BOSTON (Reuters) - Investment manager T. Rowe Price Group said on Monday it has closed its Health Sciences Fund to new investors amid a faster pace of inflows, reflecting the sector's...
  
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• Cautious consumers cast doubt on U.S. growth outlook

  01-06-2015 22:55 via news.yahoo.com
  
  U.S. consumer spending growth unexpectedly stalled in April as households cut back on purchases of automobiles and continued to boost savings, suggesting the economy was struggling to gain momentum early in the second quarter. The Commerce Department said April's unchanged reading in consumer spending growth compared with analysts' forecasts for a 0.2 percent rise and followed a 0.5 percent increase in March. Consumer spending, which accounts for more than two-thirds of U.S. economic a
  
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• Canadian dollar touches one and half month low as data lifts greenback

  01-06-2015 22:54 via news.yahoo.com
  
  By Solarina Ho TORONTO (Reuters) - The Canadian dollar beat a sharp retreat against its U.S. counterpart on Monday, hurt by oil prices that fell on expectations that OPEC production levels will stay elevated, while the greenback was lifted by economic data. "We have this underlying assumption that Q2 is going to be better ... We just need to see a lot of data before we're 100 percent convinced that core assumption is correct," said Greg Anderson, global head of foreign exchange st
  
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• Wall Street edges up after recent losses, mixed data

  01-06-2015 22:47 via news.yahoo.com
  
  Investors are weighing data to try to guess how soon the Federal Reserve might raise interest rates. Boston Fed President Eric Rosengren said with little evidence of a rebound, the Fed is in no position to start raising interest rates for the first time since 2006. "The risk is that the Fed raises interest rates into a slowing economy." Eight of the 10 major S&P indexes were higher, with health, industrials and technology among sectors with the most gains.
  
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• UPDATE 2-Rare earths miner Molycorp misses interest payment, shares fall

  01-06-2015 22:30
  June 1 (Reuters) - Molycorp Inc said it missed a $32.5 million interest payment on its senior secured notes, heightening concerns that the struggling rare earths miner could file for bankruptcy...
  
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• Dollar climbs following upbeat data; Greece talks eyed

  01-06-2015 22:30 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - The U.S. dollar gained on Monday after a round of economic data kept expectations alive for an interest rate hike from the Federal Reserve this year, while the euro fell on worry about Greece's financial crisis and soft euro zone data. The strengthening dollar weighed on oil prices, which were also dented by expectations OPEC production would remain high. U.S. stocks closed modestly higher in a choppy session as a deal by Intel Corp to acquire Alter
  
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• Wall Street ends higher; transports recover

  01-06-2015 22:17 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks ended slightly higher on Monday as transportation shares bounced back from recent losses though economic data painted a mixed picture of the economy.
  
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• US stocks rise as Intel buys Altera for $16.7 bn

  01-06-2015 22:08 via news.yahoo.com
  
  New York (AFP) - US stocks rose Monday as a busy week of economic news kicked off with Intel's announcement it will buy rival chipmaker Altera for $16.7 billion.
  
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• US stocks gain broadly after Intel deal for chip designer

  01-06-2015 22:07 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks are closing modestly higher after some encouraging economic reports and a big acquisition in the semiconductor industry.
  
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• Wall Street edges up as data supports Fed rate view

  01-06-2015 21:33 via news.yahoo.com
  
  With little evidence of a rebound, the Fed is in no position to start raising interest rates for the first time since 2006, Boston Fed President Eric Rosengren said. The Dow Jones transportation average , which has been close to correction territory, was up 1.4 percent. "So far, economic data ... does not suggest the Fed is going to raise rates in the near future, and the fact that the economy contracted in Q1 even with rates near zero is not a good sign for the Fed," said Adam Sarhan,
  
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• US stocks rising broadly after Intel deal for chip designer

  01-06-2015 20:53 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks rose broadly in afternoon trading Monday following the release of some encouraging economic data and news of a big acquisition in the semiconductor industry. Nine of the 10 industry sectors of the Standard and Poor's 500 index were higher.
  
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• U.S. hotel business poised for good years, leaders say

  01-06-2015 20:40 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - Steadily expanding demand, in line with a moderately growing U.S. economy and a still low rate of new room construction, bodes well for the U.S. hotel industry in the near term, leading executives in the business said on Monday. A surge in deals for U.S. hotels, driven in part by Chinese money seeking investment abroad, has led to worries of a market that might be getting expensive. Sales volume was up 81 percent to $13.3 billion in the first four months of t
  
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• Dollar climbs in wake of data; Greece talks eyed

  01-06-2015 20:20 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - The U.S. dollar advanced on Monday after a round of economic data kept expectations alive for an interest rate hike from the Federal Reserve this year, while the euro stumbled on concerns about Greece's financial crisis and soft euro zone data. While data showed U.S. consumer spending remained flat in April, construction spending and manufacturing picked up steam, holding views steady that the Fed will begin to hike interest rates by the end of the
  
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• Bankruptcy judge scolds warring Energy Future parties

  01-06-2015 20:14
  WILMINGTON, Del., June 1 (Reuters) - The judge overseeing
  the $42 billion bankruptcy of Energy Future Holdings Corp,
  Texas's biggest power company, scolded warring lawyers in the
  case on Monday for...
  
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• Argentine election candidates plan to unwind president's policies

  01-06-2015 20:02 via news.yahoo.com
  
  By Eliana Raszewski and Sarah Marsh BUENOS AIRES (Reuters) - All three of the leading candidates in Argentina's election race plan to dismantle outgoing President Cristina Fernandez's web of currency and trade controls and clean up government finances to boost the stagnating economy. Fernandez has ramped up state intervention in the economy during her eight years in power, trying to shore up thinning currency reserves while financing generous subsidies and welfare programs. Economic ad
  
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• U.S. stocks recover gains after mixed economic data

  01-06-2015 19:46 via news.yahoo.com
  
  The data left investor's with a mixed view about the strength of the economy's recovery from the first-quarter's slump as they try to gauge when the Federal Reserve will ultimately raise interest rates. Advancing issues outnumbered decliners on the NYSE by 1,878 to 1,136, for a 1.65-to-1 ratio on the upside.
  
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• UPDATE 2-OM Group to be taken private by Apollo Global in $1.03 bln deal

  01-06-2015 19:45
  June 1 (Reuters) - OM Group Inc, a maker of magnetic and battery technologies and specialty chemicals whose sales have fallen for the past two years, has agreed to be taken private by Apollo Global...
  
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• Disney CFO James Rasulo to step down

  01-06-2015 19:37 via news.yahoo.com
  
  Rasulo, 58, will continue to work in an advisory capacity to Chief Executive Bob Iger, Disney said on Monday. Rasulo was the second-highest paid executive at Disney, earning $16.2 million in the year ended Sept. 27. Rasulo, who had been working without a contract since the end of January, was once considered a top candidate to replace Iger, according to Wall Street analysts.
  
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• London close: Stocks down despite positive US data

  01-06-2015 19:36 via news.yahoo.com
  
  Shares ended the session in the red, tracking a lower start on Wall Street despite the release of better-than-expected US economic data.
  
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• Hibernating consumers cast pall on U.S. growth outlook

  01-06-2015 19:19 via news.yahoo.com
  
  U.S. consumer spending unexpectedly stalled in April as households cut back on purchases of automobiles and continued to boost savings, suggesting the economy was struggling to gain momentum early in the second quarter.
  
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• With ads, FINRA hopes BrokerCheck becomes go-to site, like Yelp

  01-06-2015 19:19 via news.yahoo.com
  
  With a new ad campaign, the Financial Industry Regulatory Authority hopes its BrokerCheck website will become a customer's first stop, like Yelp for diners or Angie's List for home owners, before they invest with a financial adviser. The Wall Street watchdog, known as FINRA, launched the campaign Monday with 15-second commercials depicting people making big decisions without doing their homework, in a bid to promote its years-old website that provides free information about brokers' employment h
  
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• Playtech extends online trading reach with Plus500 buy

  01-06-2015 19:12
  (Reuters) - Playtech Plc , the online gaming company founded by Israeli billionaire Teddy Sagi, has agreed to pay about 460 million pounds ($700 million) to buy Plus500 , a retail forex trading shop...
  
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• Ashmore to apply for Saudi investing licence this week - director

  01-06-2015 18:37 via news.yahoo.com
  
  * $566 bln stock market opened for applications on Monday * Tom Shippey sees cautious, long-term growth * Initial licences to number around a dozen - bankers By Simon Jessop and David French LONDON/DUBAI, June 1 (Reuters) - Emerging markets-focused investment firm Ashmore Group expects to lodge an application to invest directly in the Saudi Arabian stock market by the end of this week, its finance director told Reuters. The Gulf Arab kingdom began accepting applications from institutional invest
  
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• Time Warner Cable CFO Arthur Minson leaves to join startup

  01-06-2015 18:37
  
  (Reuters) - Time Warner Cable Incsaid Chief Financial Officer Arthur Minson would step down effective immediately, less than a week after Charter Communications Incagreed to buy the company for...
  
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• CVC buys perfume and cosmetics retailer Douglas

  01-06-2015 18:37
  FRANKFURT (Reuters) - Private equity group CVC Capital Partners [CVC.UL] is to buy perfume and cosmetics retailer Douglas from U.S. buyout firm Advent, betting on a lucrative expansion of the chain.
  
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• U.S. stocks choppy in early trade on mixed economic data

  01-06-2015 18:25 via news.yahoo.com
  
  The data left investor's with mixed thoughts about the strength of the economy's recovery and, ultimately, when the Federal Reserve will raise interest rates. Boston Fed President Eric Rosengren said Monday that he would like to begin raising rates as soon as possible, but risks from the slowdown in China and Europe in particular loom large even as growth at home is still not strong enough. At 10:17 a.m. ET the Dow Jones industrial average was down 9.71 points, or 0.05 percent, at 18,0
  
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• UPDATE 1-Shareholders vow to challenge seizure of Turkey's Bank Asya

  01-06-2015 18:13
  ISTANBUL, June 1 (Reuters) - Shareholders of Turkey's Bank Asya plan to challenge the takeover of the Islamic lender by regulators, a lawyer said on Monday, the latest move in a power struggle...
  
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• U.S. stocks flat in choppy trading after mixed economic data

  01-06-2015 18:04 via news.yahoo.com
  
  The data left investor's with a mixed view about the strength of the economy's recovery as they try to gauge when the Federal Reserve will ultimately raise interest rates. Advancing issues outnumbered decliners on the NYSE by 1,482 to 1,477, for a 1.00-to-1 ratio on the upside.
  
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• Britain's FTSE falls, with oil and gas stocks a drag

  01-06-2015 17:54
  * FTSE 100 down 0.4 pct * Oil and gas sector hit by oversupply concerns * UK PMIs sees index turn negative * Lloyds edges up as UK to launch Lloyds retail share sale (Updates with closing prices) By...
  
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• Euro without Greece would be 'different animal': Italy econ min

  01-06-2015 17:52 via news.yahoo.com
  
  The euro zone would be a "different animal" if Greece left the single currency, Italian Economy Minister Pier Carlo Padoan said on Monday as the expiration of Greece's bailout program on June 30 comes closer.
  
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• Dollar climbs after U.S. data; Greece eyed

  01-06-2015 17:39 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - The U.S. dollar climbed on Monday after a flurry of economic data kept expectations intact for an interest rate hike from the Federal Reserve this year, while the euro stumbled on concerns over Greece's financial crisis and soft euro zone data. The strengthening dollar held U.S. stocks in check and weighed on oil prices. Brent crude was off $1.11 at $64.45 a barrel, and U.S. crude lost 95 cents to $59.35 a barrel.
  
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• Want to stay together? Don't mess with the hair budget

  01-06-2015 16:47
  
  NEW YORK (Reuters) - Here's a little marital tip: When financial experts say couples should compromise on absolutely everything, there are times when you just need to split hairs.
  
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• UPDATE 1-U.S. top court says 2nd mortgages on 'underwater' homes cannot be voided in bankruptcy

  01-06-2015 16:32
  WASHINGTON, June 1 (Reuters) - The U.S. Supreme Court on
  Monday handed a win to Bank of America Corp by ruling
  that a second mortgage on an "underwater" home - one with a
  mortgage balance exceeding...
  
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• U.S. stock choppy in early trade on mixed economic data

  01-06-2015 16:31 via news.yahoo.com
  
  The data left investor's with mixed thoughts about the strength of the economy's recovery and, ultimately, when the Federal Reserve will raise interest rates. Boston Fed President Eric Rosengren said Monday that he would like to begin raising rates as soon as possible, but risks from the slowdown in China and Europe in particular loom large even as growth at home is still not strong enough. At 10:17 a.m. ET the Dow Jones industrial average was down 9.71 points, or 0.05 percent, at 18,0
  
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• BRIEF-Orzel shares' trading to be suspended

  01-06-2015 16:25
  * Its series PLORZl000019 shares' trading to be suspended
  due to the voting on the company's bankruptcy arrangement
  
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• U.S. consumer spending flat; manufacturing gains some speed

  01-06-2015 16:25 via news.yahoo.com
  
  U.S. consumer spending was unexpectedly flat in April as households cut back on purchases of automobiles and continued to boost savings, suggesting the economy was struggling to gain momentum early in the second quarter. In a separate report, the Institute for Supply Management (ISM) said its index of national factory activity was 52.8 in May, up from April's reading of 51.5.
  
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• Wall St set to open higher, helped by China market rally

  01-06-2015 16:14 via news.yahoo.com
  
  Wall Street was set to open higher on the first day of the month, helped by an almost five percent rally in Chinese stock markets and ahead of a string of domestic economic data. Chinese stock markets rose strongly after last week's sell off and as data showed growth in the country's factory sector edged up in May but export demand shrank again, reinforcing the view of the need for more stimulus. "It's the first day of the month and news out of China is bullish," said An
  
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• U.S. top court says second mortgages on 'underwater' homes cannot be voided in bankruptcy

  01-06-2015 16:13
  WASHINGTON, June 1 (Reuters) - The U.S. Supreme Court on
  Monday handed a win to Bank of America Corp by ruling
  that a second mortgage on an "underwater" home cannot by voided
  during bankruptcy.
  
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• OPEC officials say no need to raise oil output target

  01-06-2015 16:12 via news.yahoo.com
  
  (Adds OPEC delegates' comments, VIENNA dateline) VIENNA, June 1 (Reuters) - OPEC officials dismissed comments from Wall Street bank Morgan Stanley on Monday that the Organization of the Petroleum Exporting Countries may raise its oil output target when the producer group meets this week. The cartel's present production rate is around 31 million barrels per day (bpd), and the group forecasts the call on OPEC stocks to rise to 30.5 million bpd in the second half of the year, the bank said in a not
  
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• Britain's FTSE steadies, oil and gas stocks prove a drag

  01-06-2015 16:11
  * FTSE 100 down 0.1 pct * Oil and gas sector hit by oversupply concerns * UK PMIs sees index turn negative * Lloyds edges up as UK to launch Lloyds retail share sale (Recasts, adds quote, detail) By...
  
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• Nigeria central bank officials accused of $40 mln fraud

  01-06-2015 16:05 via news.yahoo.com
  
  Nigeria's anti-corruption body is set to charge senior officials from the central bank and some commercial lenders following their arrest in connection with an alleged 8 billion naira ($40 million) currency fraud scheme, the agency said on Monday. The Economic and Financial Crime Commission (EFCC) said six central bank officials and 16 commercial bank staff accused of currency theft and recirculating naira notes intended for destruction would appear in court on Tuesday. "Instead of car
  
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• U.S. construction spending jumps to near six-and-a-half year high

  01-06-2015 16:05 via news.yahoo.com
  
  U.S. construction spending surged in April to the highest level in nearly 6-1/2 years as outlays increased broadly, pointing to some pockets of strength in the economy. Construction spending jumped 2.2 percent to an annual rate of $1.0 trillion, the highest level since November 2008, the Commerce Department said on Monday. Economists polled by Reuters had forecast construction spending rising 0.7 percent in April.
  
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• Wall Street opens higher, boosted by China markets rally

  01-06-2015 15:37 via news.yahoo.com
  
  (Reuters) - U.S. stocks opened higher on Monday following a strong rally in Chinese stock markets and ahead of a string of domestic economic data.
  
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• World Bank improves outlook of Russia's battered economy

  01-06-2015 15:22 via news.yahoo.com
  
  The World Bank on Monday said it saw some improvement in Russia's battered economy, predicting it would shrink by 2.7 percent this year and return to growth of 0.7 percent in 2016. The Russian economy has been savaged by a fall in oil prices and Western sanctions imposed over the conflict in Ukraine, and the World Bank had previously forecast a contraction of 3.8 percent in 2015 and of 0.3 percent next year. "The revised forecast is largely driven by the adjustment in oil prices over t
  
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• Vatican defends Australian cardinal against charges of 'disregard' of sexual abuse

  01-06-2015 15:20 via news.yahoo.com
  
  By Philip Pullella and Byron Kaye VATICAN CITY/SYDNEY (Reuters) - The Vatican on Monday strongly defended Australian Cardinal George Pell against accusations by a member of Pope Francis' commission on sexual abuse that the Vatican's finance chief had little regard for victims. Peter Saunders, one of 17 members of the commission advising the pope on how to root out sex abuse in the Church, said on Australian television on Sunday that Pell should be dismissed over allegations he failed t
  
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• Miner Molycorp misses $32.5 mln interest payment, shares plunge

  01-06-2015 15:19
  June 1 (Reuters) - Miner Molycorp Inc said it missed a $32.5 million interest payment on its senior secured notes, sending the company's shares down about 21 percent in premarket trading.
  
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• Wall Street set to open higher, helped by China market rally

  01-06-2015 15:17 via news.yahoo.com
  
  Wall Street was set to open higher on the first day of the month, helped by an almost five percent rally in Chinese stock markets and ahead of a string of domestic economic data. Chinese stock markets rose strongly after last week's sell off and as data showed growth in the country's factory sector edged up in May but export demand shrank again, reinforcing the view of the need for more stimulus. "It's the first day of the month and news out of China is bullish," said An
  
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• US STOCKS-Wall St set to open higher, helped by China market rally

  01-06-2015 15:14 via news.yahoo.com
  
  Wall Street was set to open higher on the first day of the month, helped by an almost five percent rally in Chinese stock markets and ahead of a string of domestic economic data. Chinese stock markets ...
  
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• Stung by FIFA furor, Qatar's soft power at risk

  01-06-2015 15:04 via news.yahoo.com
  
  By Amena Bakr DOHA (Reuters) - "It will blow over" tends to be Qatar's unofficial response to criticism of its World Cup bid, but with a FIFA corruption scandal exploding onto the world's front pages, the Gulf state has glumly realized it may have a real fight on its hands. Super-rich Qatar would suffer no economic pain if it lost the right to host the world's top soccer event. Years of allegations of corruption in the vote that won it the 2022 cup, and of abuse of migra
  
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• Fed's Rosengren: economy growing too slowly to justify rate hike

  01-06-2015 15:01 via news.yahoo.com
  
  With little evidence the U.S. economy is rebounding after a very weak first quarter, the Federal Reserve is in no position to start raising interest rates for the first time since 2006, a top Fed official said on Monday. "The conditions for beginning the tightening of monetary policy have not yet been met," Boston Fed President Eric Rosengren said in remarks prepared for delivery in Hartford, Conn. The Fed has said it will raise rates only once it sees further improvement in the labor
  
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