Finance news

• Citi's Charrington: Bank eyes West Coast for new towers

  08-06-2015 23:09
  
  NEW YORK (Reuters) - Citigroup, whose private banking clients are funding much of the construction of New York's tallest apartment building, is eyeing similar projects in California and expects such...
  
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• Bradesco capital may fall in HSBC Brasil deal, UBS says

  08-06-2015 23:07
  
  SAO PAULO (Reuters) - Banco Bradesco SA, Brazil's second-largest private-sector lender, would face a capital shortfall should a reported bid for the local unit of HSBC Holdings Plc succeed, UBS...
  
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• Neurocrine suspends two planned trials of genetic disorder drug

  08-06-2015 23:06
  June 8 (Reuters) - Biotechnology company Neurocrine Biosciences Inc said it had suspended two planned clinical trials of its experimental drug to treat a potentially life-threatening genetic disorder...
  
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• G7 leaders bid 'Auf Wiedersehen' to carbon fuels

  08-06-2015 23:02 via news.yahoo.com
  
  By Paul Carrel and Michelle Martin KRUEN, Germany (Reuters) - Leaders of the world's major industrial democracies resolved on Monday to wean their energy-hungry economies off carbon fuels, marking a major step in the battle against global warming that raises the chances of a U.N. climate deal later this year. The Group of Seven's energy pledge capped a successful summit for host Angela Merkel, who revived her credentials as a "climate chancellor" and strengthened Germany'
  
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• Bank of Canada warns against fragmentation of financial reforms

  08-06-2015 22:59 via news.yahoo.com
  
  MONTREAL (Reuters) - International financial authorities must ensure that countries and other jurisdictions do not go too far down the road toward domestically oriented financial system reforms, Bank of Canada Senior Deputy Governor Carolyn Wilkins said on Monday. "If all jurisdictions act in their own national interest, narrowly defined, everyone could be left worse off," she told a Montreal economic conference. ...
  
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• Tech shares, airlines lead US stocks lower

  08-06-2015 22:51 via news.yahoo.com
  
  US stocks dropped Monday, as the week kicked off with especially large declines in technology shares and airline stocks. The broad-based S&P 500 shed 13.55 (0.65 percent) to 2,079.28, while the tech-rich Nasdaq Composite Index fell 46.83 (0.92 percent) to 5,021.63. Tech shares like Intel (-1.7 percent) and Facebook (-1.8 percent) were hard hit on a day with no major US economic indicators.
  
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• TSX tumbles on broad selloff, resource stocks weigh

  08-06-2015 22:42 via news.yahoo.com
  
  By Alastair Sharp TORONTO (Reuters) - Canada's main stock index tumbled 1.4 percent on Monday, its third straight fall and the sharpest selloff in almost three months, with across-the-board declines led by resource and financial stocks. While investors took cues from global markets, the impact was magnified in Canada's skittish market, which is particularly attuned to both Chinese demand for its commodity exports and economic recovery in the United States, its main trade partner. "
  
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• Stocks fall on Greece, rate concerns; U.S. dollar dips

  08-06-2015 22:32 via news.yahoo.com
  
  U.S. and European stocks declined on Monday as investors fretted about Greece and the timing of a U.S. rate hike, while bond yields rose and the dollar fell. The U.S. currency extended its decline in the afternoon on skepticism about the American economy even after President Barack Obama denied a wire-service report that claimed to cite his remarks on the greenback's strength. Investors sold U.S. equities after Friday's strong jobs report heightened expectations for a Federal Reserve i
  
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• UPDATE 1-Delta Air Lines looks to strengthen global partnerships

  08-06-2015 22:14
  MIAMI, June 8 (Reuters) - Delta Air Lines Inc is
  hoping to strengthen partnerships with carriers in South Korea,
  Mexico and Brazil, and it has been approached about investing in
  Japan's bankrupt...
  
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• Wall Street falls on Greece, rate hike concerns

  08-06-2015 22:08 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks ended lower on Monday afternoon as investors worried about Greece and mulled the prospect of the Federal Reserve raising interest rates as early as September.
  
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• BlackRock taps Google scientist to help big data push

  08-06-2015 22:07
  
  (Reuters) - BlackRock Inc, the world's largest asset manager, has hired Bill MacCartney, a former senior Google research scientist, as a managing director, joining its scientific-active equity team,...
  
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• US airline shares dive on fears of slow growth, rising capacity

  08-06-2015 21:43 via news.yahoo.com
  
  New York (AFP) - US airline shares plunged Monday as worries about rising capacity and slow US economic growth trumped an upbeat forecast from an international aviation trade group.
  
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• Market overview: Wall Street weighs on London shares

  08-06-2015 21:26 via news.yahoo.com
  
  1905: Shares ended the session lower led by a retreat in Shire stock after Swiss outfit Actelion rebuffed an $18bn bid, according to The Sunday Times. That came as Wall Street retreated in the aftermath ...
  
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• Greece's creditors floated extending bailout through March 2016: WSJ

  08-06-2015 21:13 via news.yahoo.com
  
  (Reuters) - Greece's international creditors last week proposed extending the country's bailout until the end of March 2016 in return for pension cuts, tax increases and other policy steps by Athens, the Wall Street Journal said on Monday, citing unnamed sources. Greece earlier on Monday declared new willingness to compromise. But it has yet to reach a deal, which is needed by the end of this month, when the bailout program expires and the country faces default on its debts. (Reporting by Emily
  
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• Calpers to cut external money managers by half: WSJ

  08-06-2015 20:44
  
  (Reuters) - The California Public Employees' Retirement System intends to cut ties with roughly half of the firms handling its money to reduce fees paid to investment managers, the Wall Street...
  
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• When booking travel online, it pays to shop around

  08-06-2015 20:39
  
  (Reuters) - When Christel Shea was trying to book a trip from Providence, Rhode Island to Greenville, South Carolina a couple of weeks ago, it took more than one online search for her to identify...
  
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• Delta Air Lines approached about investing in Skymark Airlines -Delta president

  08-06-2015 20:33
  June 8 (Reuters) - Delta Air Lines Inc has been
  approached about investing in Japan's Skymark Airlines
  to help revive the budget carrier from bankruptcy,
  Delta's president Ed Bastian told reporters...
  
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• Putin signs off on amnesty for hidden assets

  08-06-2015 20:21 via news.yahoo.com
  
  Russian President Vladimir Putin signed into law Monday an amnesty for people who illegally spirited funds out of the country, hoping to counter the capital flight that has contributed to the country's economic crisis. The law as published on the official government website exempts from criminal prosecution Russians who this year declare assets such as property or shares or foreign bank accounts they have previously hidden from the authorities. The law aims to "create the legal basis f
  
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• Wall Street loses ground as investors eye September rate hike

  08-06-2015 20:18 via news.yahoo.com
  
  While the Fed is expected to raise rates this year, the timing of the move has kept the market on the edge. “The May jobs number is pointing in the direction of a more likely interest-rate hike. The dollar retreated after a report – later denied – that President Barack Obama had expressed concern over its strength after a year-long rally.
  
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• Bill Gross' Janus Global Unconstrained Bond posts $11.7 million outflow in May

  08-06-2015 20:12
  NEW YORK (Reuters) - The Janus Global Unconstrained Bond Fund, overseen by widely followed investor Bill Gross, posted net outflows of $11.7 million in May despite his "short of a lifetime" trade...
  
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• CEOs temper U.S. economic growth outlook for 2015: survey

  08-06-2015 20:06 via news.yahoo.com
  
  U.S. chief executive officers have become a bit more pessimistic in their outlook for the American economy in 2015 and fewer of them expect to increase sales, investment and hiring this year, a quarterly business group survey said on Monday. The Business Roundtable's second-quarter survey, conducted before U.S. gross domestic product for the first quarter was revised down last month to show an annualized 0.7 percent contraction, found that CEOs expect 2.5 percent GDP growth this year. "
  
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• Obama says Putin on doomed drive to recreate Soviet glories

  08-06-2015 20:01 via news.yahoo.com
  
  By Noah Barkin and Jeff Mason KRUEN, Germany (Reuters) - U.S. President Barack Obama accused President Vladimir Putin of wrecking Russia's economy in a doomed drive to recreate the glories of the Soviet empire and G7 leaders said they could step up sanctions against Moscow if violence in Ukraine escalated. At the conclusion of a Group of Seven summit in the Bavarian Alps, leaders expressed concern about an upsurge in fighting in eastern Ukraine, where Russian-backed separatists have clashed with
  
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• BRIEF-Approval of merger by absorption of Groupe Unika by Techniline delayed

  08-06-2015 19:22
  * Approval of merger by absorption of Groupe Unika by
  Techniline SA delayed
  
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• Mexico's ruling party close to keeping majority despite violence, graft

  08-06-2015 18:47 via news.yahoo.com
  
  By Dave Graham and Max De Haldevang MEXICO CITY (Reuters) - Mexican President Enrique Pena Nieto was close to retaining a slim majority in the lower house of Congress on Monday despite losing support in mid-term elections marked by anger over corruption, gang violence and weak economic growth. Mexicans cast votes on Sunday for the 500-strong lower house as well as nine state governorships and more than 1,000 state and municipal posts in what was seen as a referendum on Pena Nieto's rule. Th
  
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• UPDATE 1-Co-Op mandates banks for sterling Tier 2 bond - lead

  08-06-2015 18:24
  LONDON, June 8 (IFR) - The Co-operative Bank plc, which
  nearly collapsed in 2013, is seeking to raise new Tier 2 debt in
  the public market.
  
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• Shares of Humana rally on silence and a withdrawal

  08-06-2015 18:19 via news.yahoo.com
  
  Humana is pulling out of a major health care conference and says it will not comment on rumors of a merger, actions that will likely fuel Wall Street speculation that the insurer is part of a developing deal.
  
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• UPDATE 4-Swiss biotech Actelion hits record high on potential Shire bid

  08-06-2015 18:07
  * Shire a serial acquirer; Actelion unwilling seller in past (Adds Breakingviews link)
  
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• Co-Op mandates banks for sterling Tier 2 bond - lead

  08-06-2015 18:07
  LONDON, June 8 (IFR) - The Co-operative Bank plc has
  mandated banks on a sterling-denominated 10-year non-call five
  Tier 2 bond.
  
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• Britain's FTSE edges lower at close, Diageo surges

  08-06-2015 17:59
  LONDON, June 8 (Reuters) - Britain's top share index edged lower and finished near the previous session's two-week low, with sharp gains in Diageo on a reported takeover interest offset by weaker...
  
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• UPDATE 2-Monsanto courts Syngenta investors to win deal support

  08-06-2015 17:57
  * Syngenta still rebuffs proposal after break-up fee added (Releads, adds investor quotes, meeting details)
  
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• Iceland to lift capital controls in place since 2008 crisis

  08-06-2015 17:49 via news.yahoo.com
  
  Iceland's government on Monday launched a programme aimed at lifting the capital controls put in place to stabilise the economy during the country's 2008 financial crisis. Capital controls restrict the flow of money in and out of a country. During Iceland's crisis, when the three biggest banks collapsed, they prevented foreign investors from taking their money out of Iceland.
  
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• Indian Giant Wipro Eyes Bid For UK Outsourcer

  08-06-2015 17:47 via news.yahoo.com
  
  One of India's biggest outsourcing firms is mulling a takeover bid for Equiniti, the British-based group which manages the pensions of millions of UK civil servants. Sky News understands that Wipro is among a clutch of prospective bidders which in recent weeks have lodged their potential interest in a takeover with Equiniti's owners. Although it faces stiff competition from private equity buyers and a potential stock market listing, Wipro would - if it pursues its interest - be a credi
  
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• Do more jobs mean more economic security? Not for some in US

  08-06-2015 17:27 via news.yahoo.com
  
  WASHINGTON (AP) — The U.S. economy is churning out a lot of jobs these days but not a lot of financial security for many of the people who hold them.
  
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• Law firm Gateley raises 30 mln pounds in pioneering London float

  08-06-2015 17:18
  LONDON, June 8 (Reuters) - Partners in Gateley Holdings shared a 25 million pounds($38 million) windfall on Monday when the group became the first British law firm to list on the London stock...
  
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• Obama tells Greeks it's time to make tough decisions

  08-06-2015 17:18 via news.yahoo.com
  
  US President Barack Obama weighed in Monday on the Greece crisis, telling Greeks they need to make tough choices to save the country from a default and possible messy euro exit. Greek leaders will have to make "tough decisions" that will be "good for the long term", stressed Obama following a gathering of world leaders where the tottering Greek economy was high on the agenda. Germany urged Greece to hurry along talks on a loan deal with its international creditors.
  
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• UK debt management chief sees risk of failed auction - WSJ

  08-06-2015 17:16 via news.yahoo.com
  
  Britain is at risk of its first failed government bond auction since 2009 due to increased financial market volatility, the head of the UK Debt Management Office has warned. The Wall Street Journal reported on Monday that DMO chief executive Robert Stheeman said a bond auction could soon fail to attract enough buyers. "I wouldn't be surprised if we had a failed bond auction at some point in the not-too-distant future." The DMO is scheduled to sell 900 million pounds ($1.37 billion) of 10-year in
  
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• Canada housing starts jump, bode well for economic snapback

  08-06-2015 17:15 via news.yahoo.com
  
  By Leah Schnurr OTTAWA (Reuters) - Canadian housing starts jumped to the highest level in nearly a year in May, data on Monday showed, an unexpected move that signaled the country's housing boom still has life and that the economy may strengthen in the second quarter. Housing starts rose to 201,705 units last month, according to the Canadian Mortgage and Housing Corp report, topping market expectations for 185,000. On Friday, figures showed the economy added far more jobs than expected in M
  
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• Obama says Greeks must make 'tough political choices' for debt deal

  08-06-2015 16:49 via news.yahoo.com
  
  U.S. President Barack Obama said on Monday that Greeks need to make some "tough political choices" and embrace difficult economic reforms to win a debt deal with their country's international creditors. Obama denied a report by an unidentified French official that he had voiced concern about the strength of the dollar in a discussion of the world economy at a summit of the Group of Seven industrialized democracies in Germany. On Greece, Obama said: "The Greeks are going to have to follow through
  
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• Obama: Putin trying to recreate glories of Soviet empire

  08-06-2015 16:48 via news.yahoo.com
  
  ELMAU, Germany (AP) — President Barack Obama says Russian President Vladimir Putin (POO'-tihn) must decide whether he wants to wreck Russia's economy in pursuit of what Obama calls a "wrongheaded desire to recreate the glories of the Soviet empire."
  
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• Iceland to ease capital controls imposed after 2008 crash

  08-06-2015 16:47 via news.yahoo.com
  
  REYKJAVIK, Iceland (AP) — Iceland is to introduce a hefty 39 percent exit tax on assets from its failed banks starting next April as part of moves to lift capital controls imposed after the tiny island nation's economy collapsed seven years ago.
  
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• Teva bosses say remain committed to Mylan takeover

  08-06-2015 16:36
  AMSTERDAM (Reuters) - Top executives at Israeli drugmaker Tevasent an open letter to takeover target Mylanon Monday, saying they remained committed to striking a deal and reasserting that Teva's...
  
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• Obama: Greece must undertake reforms in bailout standoff

  08-06-2015 16:35 via news.yahoo.com
  
  ELMAU, Germany (AP) — President Barack Obama says the Greek government must undertake economic reforms that will require tough political choices to resolve a standoff over an international bailout and protect global financial markets.
  
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• Obama says global economy not performing at full potential

  08-06-2015 16:35 via news.yahoo.com
  
  U.S. President Barack Obama said on Monday the global economy was expanding but it was not achieving its full potential. "In the global economy, America is a major source of strength," he told a news conference in Kruen, Germany after a summit of the Group of Seven (G7) industrialized nations.
  
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• European stocks mostly lower; Turkish market plunges

  08-06-2015 16:17 via news.yahoo.com
  
  European stocks were mostly lower on Monday as Turkish shares plunged on the political and economic uncertainty following the country's elections, offsetting support for the alcoholic drinks and banking sectors. Markets were also tracking the latest developments surrounding Greece's standoff with the European Union in debt talks, as well as comments out of the Group of Seven summit in Germany. Frankfurt's DAX 30 index sank 1.07 percent to stand at 11,076.92 points in late afternoo
  
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• FTSE steadies around 2-month low, Diageo shares surge

  08-06-2015 16:16
  LONDON, June 8 (Reuters) - Britain's top share index steadied on Monday, with gains in Diageo on a reported takeover interest offset by weaker firms like Shire, which fell on another report saying it...
  
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• Wall St. modestly lower as rate hike timing concerns weigh

  08-06-2015 16:15 via news.yahoo.com
  
  While the Fed is broadly expected to raise rates this year, the timing of the move has kept the market on tenterhooks as the central bank studies data for signs of a healthier economy. Wall Street's top banks said they expect the Fed to begin raising rates in September, followed by another increase before the end of the year, according to a Reuters poll. The dollar retreated after a report – later denied – that President Barack Obama had expressed concern over its strength after a year-
  
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• Stifel to buy former Lehman brokerage from Barclays

  08-06-2015 16:06
  (Reuters) - U.S. investment bank Stifel Financial Corpsaid on Monday it would buy Barclays Plc'sU.S. wealth and investment management unit, which is largely made up of the former brokerage arm of...
  
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• Germany's Merkel says 'not much time left' for Greek debt deal

  08-06-2015 15:30 via news.yahoo.com
  
  German Chancellor Angela Merkel said on Monday there was not much time left for a debt deal to keep Greece in the euro zone and that Europe was prepared to show solidarity if Athens implemented economic reforms. Merkel said the Greek crisis had played a role in a discussion of risks to the world economy at a summit of Group of Seven (G7) industrialized democracies but she dismissed comparisons with the collapse of U.S. investment bank Lehman Brothers in 2008. "We want Greece to remain part of th
  
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• G7 says 'deep cuts' in greenhouse gases needed this century

  08-06-2015 15:22 via news.yahoo.com
  
  Elmau Castle (Germany) (AFP) - G7 leaders said at a summit Monday that deep cuts in global greenhouse gas emissions are required with a "decarbonisation of the global economy" over the course of this century.
  
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• Spanish workers to get raise after 3 years of frozen wages

  08-06-2015 15:11 via news.yahoo.com
  
  The deal was concluded by the business owners' federations of CEOE and Cepyme, representing small- and medium-sized businesses, and the main workers' unions UGT and CCOO. "This accord reflects the reality," said CEOE president Juan Rosell at a press conference, referring to the rebound in Spain's economy growth coupled with a drop in retail prices.
  
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