Finance news

• FINRA may cut or drop fees for dark pool reports

  10-06-2015 23:43
  
  NEW YORK (Reuters) - Wall Street's self-funded watchdog said on Wednesday it may cut the fees it charges to professional users, like banks, of its weekly report on off-exchange trading volumes in...
  
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• Janus' Bill Gross says investing in Mexican gov't debt: CNBC

  10-06-2015 23:43
  NEW YORK (Reuters) - Bill Gross of Janus Capital Group Inc said on CNBC Wednesday that he recently began investing in Mexican government debt securities.
  
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• Wall Street climbs on tech, financials gains, optimism on Greece

  10-06-2015 23:37 via news.yahoo.com
  
  All 10 major S&P 500 sectors ended higher, with the technology index .SPLRCT up 1.6 percent and leading sector gainers. The day's gains also pushed the Dow back into positive territory for the year and snapped four straight sessions of losses in the blue-chip index. Shares of Goldman Sachs GS.N rose 2 percent to $213.13, giving the Dow its biggest boost.
  
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• New Zealand cuts interest rates 0.25 points to 3.25 percent

  10-06-2015 23:36 via news.yahoo.com
  
  New Zealand's central bank cut interest rates for the first time in more than four years on Thursday, trimming the base rate 0.25 points to 3.25 percent amid lower-than-expected inflation. The last time the bank cut interest rates was in March 2011, to prevent the economy faltering after a devastating earthquake in Christchurch.
  
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• S&P downgrades Greece after IMF repayment delayed

  10-06-2015 23:35 via news.yahoo.com
  
  In a statement, S&P said it had lowered the rating by one notch to CCC from CCC+, saying that as Athens delayed the debt repayment last Friday, the government appeared to be prioritizing pension payments and domestic spending over its debt-service obligations. S&P also said that given the risk of a further worsening of liquidity for the government, its banks, and the economy, its credit outlook for Greece is negative. In the absence of deal between Greece and its EU/IMF creditors, S&P said "the
  
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• Monsanto tells Syngenta investors it wants more info to refine value

  10-06-2015 23:33
  June 10 (Reuters) - Monsanto has ruled out raising its non-binding $45 billion offer for Swiss rival Syngenta unless the target company gives it access to business data.
  
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• Stocks halt selloff, Treasury yields spike

  10-06-2015 23:20 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - U.S. shares rebounded sharply on Wednesday in the S&P's 500's best day in more than a month, while longer-dated U.S. Treasury yields rose to their highest in more than seven months, tracking a selloff in German Bunds. You were starting to get an inflection point where investors were looking to get in." The Dow Jones industrial average rose 236.36 points, or 1.33 percent, to 18,000.4, the S&P 500 gained 25.05 points, or 1.2 percent, to 2
  
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• Global stocks halt selloff, Treasury yields spike

  10-06-2015 23:19 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - U.S. shares rebounded sharply on Wednesday in the S&P's 500's best day in more than a month, while longer-dated U.S. Treasury yields rose to their highest in more than seven months, tracking a selloff in German Bunds. You were starting to get an inflection point where investors were looking to get in." The Dow Jones industrial average rose 236.36 points, or 1.33 percent, to 18,000.4, the S&P 500 gained 25.05 points, or 1.2 percent, to 2
  
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• Forget finding that stock-picking savant

  10-06-2015 23:11
  
  If active fund managers are to have any hope of outperforming the passive alternative they are probably going to have to be good at picking stocks.
  
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• Calls to rethink buybacks find little traction with wealth managers

  10-06-2015 23:08
  
  NEW YORK (Reuters) - Recent calls by pension fund leaders for companies to rethink share buybacks and to invest more in their businesses are not resonating with some wealth management leaders.
  
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• Wall Street jumps on optimism about Greece; financials gain

  10-06-2015 22:47 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks jumped on Wednesday, helped by optimism that Greece may be closer to reaching a deal with creditors and by gains in technology and financial shares.
  
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• U.S.-based bond funds attract $2 billion for seventh straight week of demand - ICI

  10-06-2015 22:43
  
  NEW YORK (Reuters) - Investors in U.S.-based mutual funds committed $2 billion to bond funds in the week ended June 3, their seventh straight week of new demand, data from the Investment Company...
  
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• House plans Friday vote on bill key to Pacific trade pact

  10-06-2015 22:23 via news.yahoo.com
  
  By Richard Cowan, David Lawder and Krista Hughes WASHINGTON (Reuters) - U.S. Republicans aim to hand President Barack Obama the coveted "fast-track" trade negotiating authority he needs to complete his signature Pacific trade pact at a Friday vote, after agreeing with Democrats on providing help for workers hurt by trade. A central part of Obama's strategic shift toward Asia, the Trans-Pacific Partnership could boost global economic growth and U.S. exports, while setting common st
  
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• Wall Street rallies on Greek hopes; tech, financials lead

  10-06-2015 22:09 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks jumped on Wednesday amid optimism that Greece may be closer to reaching a deal with creditors and gains in technology and financial shares.
  
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• UPDATE 3-Johnson Controls wants to leave automotive seating business

  10-06-2015 21:48
  June 10 (Reuters) - Johnson Controls Inc wants to exit the automotive seating and interiors businesses to focus on its higher-margin building efficiency and automotive battery operations, the company...
  
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• Next round of Iran nuclear talks 'pretty tough': U.S. official

  10-06-2015 21:41 via news.yahoo.com
  
  The next round of Iran nuclear negotiations will be "pretty tough," a senior U.S. official said on Wednesday ahead of new talks including top diplomats from the seven countries involved. Iran and six major powers reached a framework nuclear deal on April 2 in Lausanne, Switzerland, and are seeking to strike a final agreement by June 30 under which Iran would restrain its nuclear program in exchange for relief from economic sanctions. The United States, which is negotiating along with Britain, Ch
  
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• Asia seen as sweet spot for U.S. investors

  10-06-2015 21:17
  
  NEW YORK (Reuters) - Asia is quickly becoming a "sweet spot" for U.S. investors eager to boost portfolio returns at a time the bull market in U.S. stocks is expected to lose some steam, a top hedge...
  
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• Slovak PM taps controversial ex-banker as economy minister

  10-06-2015 21:14 via news.yahoo.com
  
  Slovakia's leftist Prime Minister Robert Fico on Wednesday tapped controversial former high-flying banker Vazil Hudak as economy minister after Pavol Pavlis resigned amid allegations of conflict of interest. "I don't know when the president will set the date of his (Hudak's) appointment," Fico told reporters after a regular Wednesday government meeting in the capital Bratislava. A Harvard Business School graduate, 50-year-old Hudak held senior positions at banks JPMorgan
  
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• Fast U.S. merger pace raises risk: Fitch

  10-06-2015 20:54
  NEW YORK (Reuters) - A record pace of mergers and acquisitions in the United States has increased the risk some companies are overloading on debt and some deals may end up souring, Fitch Ratings said...
  
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• Global stock markets halt selloff; Greece hopes lift Wall Street

  10-06-2015 20:49 via news.yahoo.com
  
  The dollar fell against the yen and the euro and U.S. Treasury yields tracked German Bund yields higher, also helping to drive U.S. equities up. Strong data would help the case for a U.S. interest rate hike sometime this year, and this prospect was helping the benchmark S&P 500's financial sector , which was one of the S&P's best-performing sectors on Wednesday, Kenny said. A spokesperson for Chancellor Angela Merkel said Germany will only accept a cash-for-reform deal between
  
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• Wall Street up on report Germany may consider Greece aid

  10-06-2015 20:34 via news.yahoo.com
  
  The Nasdaq Composite snapped a four-day losing streak, rising the most in a month, while the S&P was positive for the second day in a row. The German government may settle for a clear commitment by Greece to a measure up front to unlock aid, Bloomberg reported, citing two people familiar with Germany’s position. A German spokesman told Reuters that Germany would support a Greek debt deal only if it had the approval of the three lending institutions.
  
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• FINRA to clarify firms' duties in curbing elder abuse

  10-06-2015 20:32
  
  NEW YORK (Reuters) - Wall Street's industry-funded watchdog is crafting guidance that would give brokers clarity about delaying transactions made by investors whom they believe may be suffering from...
  
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• U.S. services data suggest upward revision to first-quarter GDP

  10-06-2015 19:24 via news.yahoo.com
  
  The U.S. economy was probably not as weak as has been reported in the first quarter, with data on Wednesday showing slightly stronger consumer spending than previously estimated. The Commerce Department's quarterly services survey, or QSS, showed consumption, including healthcare spending, increased at a faster clip than the government had assumed in its second estimate of gross domestic product published last month. Economists said the data suggested first-quarter consumer spending could b
  
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• Govt Selling Taxpayers' Stake In Royal Mail

  10-06-2015 19:08 via news.yahoo.com
  
  The Government is selling half of its remaining 30% stake in Royal Mail. Around 150 million shares - 15% of the privatised company - will be placed with institutional investors, a Department for Business, Innovation & Skills spokesman said. Ministers were advised by Goldman Sachs and UBS, and came under fire when the share price was set at 330p and then soared by nearly 90% on the stock market.
  
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• Merkel, Hollande to tell Greek PM to talk to creditors: spokesman

  10-06-2015 19:04 via news.yahoo.com
  
  Germany will only accept a cash-for-reform deal between Greece and its international creditors that has the approval of all three lending institutions, a government spokesman said in response to reports that Berlin was considering easier terms. Asked about a Bloomberg report that said Chancellor Angela Merkel's government may be satisfied with Greece committing to at least on major economic reform sought by the creditors, the spokesman told Reuters: "Germany will only accept a proposal of the th
  
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• ECB's Coeure says any euro exit would be warning for Europe: French publication

  10-06-2015 19:03 via news.yahoo.com
  
  The departure of any country from the euro zone would be a warning sign for Europe, one of the European Central Bank's top officials said on Wednesday, adding that he expected Greece to stay inside the currency bloc. "I refuse to discuss a Greek exit from the euro area because we are not working within that framework," Benoit Coeure, a member of the ECB's Executive Board, told French publication La Croix. "We are financing the Greek economy and we are working alongside the IMF and the European C
  
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• Pimco expects Fed to begin raising rates in September

  10-06-2015 19:02
  NEW YORK (Reuters) - Pimco expects the U.S. Federal Reserve to begin raising interest rates later this summer, most likely in September, which could be the start of a multiyear normalization process,...
  
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• 8point3 Energy Partners expects IPO to be priced at $19-$21/share

  10-06-2015 18:56
  June 10 (Reuters) - 8point3 Energy Partners LP, formed by solar companies First Solar Inc and SunPower Corp , said it expects its initial public offering to be priced between $19 and $21 per...
  
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• UPDATE 2-Boulder Brands forecasts first quarterly sales fall in 4 years

  10-06-2015 18:52
  * Shares fall as much as 23 pct to a 3-year low (Adds analysts comments, details; updates shares)
  
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• EU's Moscovici believes 'more than ever' in Greek debt deal 

  10-06-2015 18:52 via news.yahoo.com
  
  The EU's Economic Affairs Commissioner Pierre Moscovici said on Wednesday he believed "more than ever" that a debt deal was possible between Greece and its creditors, despite five months of deadlocked talks. Greece and the European Commission have traded barbs over the past several days, with the EU's executive flatly rejecting the latest reform plans submitted by Athens. "I contacted the representatives of the Greek authorities yesterday afternoon to tell them in the na
  
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• COLUMN-Algorithms: Based on your preferences, you may also enjoy this column

  10-06-2015 18:49
  June 10 (Reuters) - One key buzzword these days is "algorithm," which technically means any computational formula but which has come to mean a formula that predicts our behavior. Amazon and Netflix...
  
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• BRIEF-Technip wins Chevron subsea contract in Gulf of Mexico

  10-06-2015 18:49
  * Wins subsea contract in Gulf of Mexico from Chevron U.S.A. Inc. subsidiary Chevron North America Exploration and Production Company
  
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• Dallas Fed seeks chief with PhD as search enters eighth month

  10-06-2015 18:40
  SAN FRANCISCO, June 10 (Reuters) - The Federal Reserve Bank of Dallas is seeking a chief with a "direct, open and honest personality" and the scholarly chops to make his mark on U.S. monetary policy...
  
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• MSCI decision delay on China boosts Brazilian stocks

  10-06-2015 18:40
  SAO PAULO, June 10 (Reuters) - MSCI's decision to delay the inclusion of Chinese domestic shares in a global benchmark index tracked by funds worth $1.7 trillion provided a boost to Brazilian stocks...
  
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• European stocks rebound despite Greek jitters

  10-06-2015 18:38 via news.yahoo.com
  
  Europe's main stock markets rebounded Wednesday, reversing earlier losses as investors fished for bargain shares despite fears over a possible Greek default and euro exit. London's benchmark FTSE 100 index of top companies rose 1.13 percent to 6,830.27 points. "We’ve seen a welcome respite for European stock markets today after several days of declines, despite continued moves higher in bond yields," said Michael Hewson, chief market analyst at CMC Markets UK.
  
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• Stock markets halt selloff; Greece hopes lift Wall Street

  10-06-2015 18:34 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - U.S. and European shares rebounded after several down days on Wednesday, with Wall Street surging on a report that Germany may be satisfied with Greece committing to at least one economic reform in return for aid. The German government may settle for a clear commitment by Greece to a measure upfront to unlock aid, Bloomberg reported, citing two people familiar with Germany’s position. No question about it," said Adam Sarhan, chief executive of Sarhan C
  
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• HSBC's investment bank to shed clients, assets in profitability push

  10-06-2015 18:33
  LONDON, June 10 (Reuters) - HSBC's investment bank could shed more than a fifth of its clients and plans to reduce its credit and interest rates businesses by $100 billion over the next two years in...
  
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• Stock markets halt selloff; Greece hopes lift Wall St.

  10-06-2015 18:31 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - U.S. and European shares rebounded after several down days on Wednesday, with Wall Street surging on a report that Germany may be satisfied with Greece committing to at least one economic reform in return for aid. The German government may settle for a clear commitment by Greece to a measure upfront to unlock aid, Bloomberg reported, citing two people familiar with Germany’s position. No question about it," said Adam Sarhan, chief executive of Sarhan C
  
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• GLOBAL MARKETS-Stock markets halt selloff; Greece hopes lift Wall St

  10-06-2015 18:30
  * China seesaws after MSCI decides against inclusion (updates with U.S. market open, commentary, changes dateline, byline)
  
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• UPDATE 1-Uber loses bid for arbitration in driver lawsuit

  10-06-2015 18:29
  SAN FRANCISCO, June 10 (Reuters) - Uber lost a bid to force arbitration in a lawsuit brought by its drivers, as a U.S. judge ruled the smartphone-based taxi service's employment contracts from 2013...
  
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• Polish PM announces resignations of three ministers, speaker

  10-06-2015 18:25
  WARSAW, June 10 (Reuters) - Polish Prime Minister Ewa Kopacz said on Wednesday that the treasury minister, the speaker of parliament, and the ministers for health and sport had tendered their...
  
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• Wall St jumps on report Germany may consider Greece aid

  10-06-2015 18:21 via news.yahoo.com
  
  Wall Street surged in late morning trading on Wednesday after a Bloomberg report that Germany may be satisfied with Greece committing to at least one economic reform in return for aid. The blue-chip Dow Industrial Average opened higher for the first time in 5 days, while the Nasdaq Composite snapped a four-day losing streak, rising the most in a month. The German government may settle for a clear commitment by Greece to a measure up front to unlock aid, Bloomberg reported, citing two people fami
  
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• US STOCKS-Wall St jumps on report Germany may consider Greece aid

  10-06-2015 18:20
  * Indexes up: Dow 1.4 pct, S&P 1.2 pct, Nasdaq 1.3 pct (Adds details, changes comment, updates prices)
  
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• UPDATE 1-AstraZeneca R&D boss Morrison leaves to head private drugmaker

  10-06-2015 18:18
  LONDON, June 10 (Reuters) - AstraZeneca's chief medical officer and head of global late-stage drug development Briggs Morrison is to leave the company, creating a gap at the top of the group's...
  
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• UPDATE 3-Tokio Marine to buy HCC Insurance for $7.5 bln

  10-06-2015 18:17
  * Won't tap equity market to fund the deal (Adds Breakingviews link)
  
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• UPDATE 1-U.S. services data suggest upward revision to Q1 GDP

  10-06-2015 18:10
  WASHINGTON, June 10 (Reuters) - The U.S. economy was probably not as weak as has been reported in the first quarter, with data on Wednesday showing slightly stronger consumer spending than previously...
  
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• Cyberattack targeted Iran nuclear talks venues: Kaspersky Lab

  10-06-2015 18:08 via news.yahoo.com
  
  By Tom Miles and Eric Auchard GENEVA/BERLIN (Reuters) - A computer virus was used to hack into venues linked to international talks on Iran's nuclear program, Russian computer security company Kaspersky Lab said on Wednesday. The Wall Street Journal said the virus was widely believed to be used by Israeli spies and Kaspersky had linked it to "three luxury European hotels" used in the negotiations involving Iran and six world powers. Other victims of Duqu had been found in Western countries, the
  
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• US stocks rally, breaking a weeklong losing streak

  10-06-2015 18:07 via news.yahoo.com
  
  NEW YORK (AP) — Signs of progress in negotiations over Greece's debts helped set off a stock market rally Wednesday, snapping a weeklong slump. European markets also jumped as hopes built for a break in the impasse between Greece and its creditors over extending the country's bailout loans.
  
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• UPDATE 1-Cyberattack targeted Iran nuclear talks venues -Kaspersky Lab

  10-06-2015 18:07
  * Israel says has sources on talks, denies spying on U.S. (Adds Kaspersky news conference, detail)
  
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• Britain's FTSE rallies off three-month low, boosted by StanChart, Sainsbury

  10-06-2015 18:06
  * Weir falls after warning of tough market conditions (Updates with closing prices)
  
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