Finance news

• UPDATE 1-German gov't consulting on what to do if Greece goes bankrupt-report

  11-06-2015 23:53
  BERLIN, June 11 (Reuters) - The German government is holding "concrete consultations" on what to do in the case of a bankruptcy of the Greek state, German newspaper Bild said, citing several people...
  
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• German gov't consulting on what to do if Greece goes bankrupt-report

  11-06-2015 23:43
  BERLIN, June 11 (Reuters) - The German government is holding "concrete consultations" on what to do in the case of a bankruptcy of the Greek state, German newspaper Bild said, citing several people...
  
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• UPDATE 1-Chile's central bank holds interest rate, no change in bias

  11-06-2015 23:36
  SANTIAGO, June 11 (Reuters) - Chile's central bank held the benchmark interest rate at 3.0 percent on Thursday, as widely expected, and maintained its neutral bias.
  
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• Dish in talks with banks about funding T-Mobile deal - WSJ

  11-06-2015 23:29 via news.yahoo.com
  
  (Reuters) - Dish Network Corp is in talks with banks over funding a bid for T-Mobile US Inc , the Wall Street Journal reported on Thursday. Dish is considering borrowing between $10 billion (6 billion pounds) and $15 billion for the cash portion of the bid, the Journal said, citing people familiar with the matter. Earlier this month, Reuters had reported that T-Mobile US Chief Executive John Legere was in talks to merge T-Mobile US and Dish Network, citing a source familiar with the matter.
  
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• Dish in talks with banks about funding T-Mobile deal: WSJ

  11-06-2015 23:29 via news.yahoo.com
  
  (Reuters) - Dish Network Corp is in talks with banks over funding a bid for T-Mobile US Inc, the Wall Street Journal reported on Thursday. Dish is considering borrowing between $10 billion and $15 billion for the cash portion of the bid, the Journal said, citing people familiar with the matter. Earlier this month, Reuters had reported that T-Mobile US Chief Executive John Legere was in talks to merge T-Mobile US and Dish Network, citing a source familiar with the matter.
  
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• U.S.-based junk bond funds see $2.6 bln outflows over weekly period -Lipper

  11-06-2015 23:26
  NEW YORK, June 11 (Reuters) - Investors in U.S.-based funds yanked $2.6 billion from high-yield "junk" portfolios in the week ended June 10, the most in five weeks, data from Thomson Reuters' Lipper...
  
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• Banco Agricola, Oi push week's new-issue tally close to US$4bn

  11-06-2015 23:13
  NEW YORK, June 11 (IFR) - Salvadoran bank Banco Agricola and Brazilian telco Oi together issued the equivalent of US$1bn on Thursday, bringing this week's supply tally to US$3.8bn.
  
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• UPDATE 1-Illinois governor rejects possibility of temporary budget

  11-06-2015 23:04
  CHICAGO, June 11 (Reuters) - Illinois Governor Bruce Rauner on Thursday rejected the possibility of a short-term spending plan to keep the state operating beyond the July 1 start of fiscal 2016 if...
  
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• Chile's central bank holds interest rate at 3 pct

  11-06-2015 23:04
  SANTIAGO, June 11 (Reuters) - Chile's central bank held the benchmark interest rate at 3.0 percent on Thursday, as expected, maintaining its neutral bias.
  
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• China's loan-hungry developers move from shadows to cloud

  11-06-2015 23:00
  * Trust lenders providing smaller share of property financing
  
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• TSX down as resource stocks slip on lower commodity prices

  11-06-2015 22:56 via news.yahoo.com
  
  By Alastair Sharp TORONTO (Reuters) - Canada's main stock index fell back on Thursday as energy and mining stocks were tripped up by softer commodity prices, with see-sawing action likely to persist as investors fret about Greek debt talks and possible U.S. interest rate hikes. The International Monetary Fund dramatically raised the stakes in Greece's stalled debt talks on Thursday, announcing that its delegation had left negotiations in Brussels and flown home because of major differe
  
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• CANADA FX DEBT-C$ dips modestly as greenback firms, crude slides

  11-06-2015 22:55
  (Updates throughout with strategist comment, details, closing figures) * Canadian dollar at C$1.2275, or 81.47 U.S. cents * Bond prices higher across the maturity curve By Solarina Ho TORONTO, June...
  
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• RPT-UPDATE 2-Twitter's Dick Costolo to step down as CEO

  11-06-2015 22:48
  June 11 (Reuters) - Twitter Inc CEO Dick Costolo is stepping down, under pressure from investors frustrated by the Internet company's slow growth and seemingly constant shake-ups in its upper ranks.
  
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• GLOBAL MARKETS-Stocks, dollar gain on strong U.S. retail sales

  11-06-2015 22:40
  * Wall St gains but sticks to trading range (Adds close of U.S. markets)
  
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• UPDATE 3-Elliott urges Citrix to sell units, buy back shares

  11-06-2015 22:38
  * Elliott seeks spinoff or sale of GoTo, NetScaler businesses
  
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• Wall Street climbs after retail sales data; healthcare up

  11-06-2015 22:38 via news.yahoo.com
  
  The S&P 500 health care index gained 0.5 percent and was among the day's best-performing sectors, led by shares of Eli Lilly . Eli Lilly hit a 14-year high, closing up 4.1 percent at $86.59, with investors anticipating data from an extended trial of an experimental Alzheimer's drug that could become available to doctors in the coming weeks. U.S. retail sales increased 1.2 percent in May, more than expected, as households boosted purchases of automobiles and a range of other goods e
  
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• UPDATE 1-Twitter's Dick Costolo to step down as CEO

  11-06-2015 22:25
  June 11 (Reuters) - Twitter Inc said Dick Costolo is stepping down as chief executive and will be replaced by co-founder Jack Dorsey on an interim basis.
  
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• Wall Street rises after strong retail sales data

  11-06-2015 22:07 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks edged higher on Thursday led by defensive sectors, including healthcare, while retail sales data boosted hopes for consumer spending.
  
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• TSX drops as resource stocks hit by lower commodity prices

  11-06-2015 22:07 via news.yahoo.com
  
  TORONTO (Reuters) - Canada's main stock index ended lower on Thursday, hurt by retreating energy and mining issues as prices for crude and other commodities slipped. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 58.16 points, or 0.39 percent, at 14,830.88. Eight of the 10 main index sectors fell. (Reporting by Alastair Sharp; Editing by Peter Galloway)
  
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• New Jersey man admits to smuggling $65 million in electronics to Russia

  11-06-2015 21:37 via news.yahoo.com
  
  Alexander Brazhnikov, 36, pleaded guilty in federal court in Newark, New Jersey, to conspiring to commit money laundering, to smuggle electronics from the United States and to violate the International Emergency Economic Powers Act. Prosecutors said Brazhnikov, a U.S. citizen who was born in Moscow, was part of a sophisticated network that acquired large amounts of regulated electronic components from the United States and shipped them to Russia on behalf of companies there.
  
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• Wall Street climbs after retail sales data; health care shares up

  11-06-2015 21:29 via news.yahoo.com
  
  The S&P 500 health care index was up 0.7 percent, among the day's best-performing sectors. Solid retail sales data follow robust May job growth numbers and stabilizing manufacturing activity, suggesting the economy is gaining momentum after getting off to a slow start in the second quarter. "The bond market seemed to stabilize, and bargain hunters have come in," to boost stocks, said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.
  
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• NII restructuring helps all creditors, even objectors - adviser

  11-06-2015 21:19
  NEW YORK, June 11 (Reuters) - A financial adviser to NII
  Holdings' creditors on Thursday testified the
  bankrupt wireless operator's $4.35 billion restructuring plan is
  good for all creditors...
  
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• Bank of Canada says high household debt, low oil aggravate risks

  11-06-2015 19:19 via news.yahoo.com
  
  By Randall Palmer and Leah Schnurr OTTAWA (Reuters) - Risks to Canada's financial system have edged up because of high household debt and the impact of cheap oil, the Bank of Canada said on Thursday, but the bank's governor said the dangers were not severe enough to spur a change in monetary policy for now. The jury is still out on the ultimate economic impact of lower prices for oil, a major Canadian export, but Governor Stephen Poloz reiterated his view that the worst effects will have been fe
  
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• Wall St. up on robust retail data but Greece weighs

  11-06-2015 19:14 via news.yahoo.com
  
  The Dow Industrial average touched its highest in six trading days earlier in the session after data showed that retail sales surged in May, the latest sign that a recovery in the U.S. economy was finally gathering steam. U.S. retail sales increased 1.2 percent in May, topping the 1.1 percent growth expected by economists, as households boosted purchases of automobiles and a range of other goods even as they paid a bit more for gasoline. Solid retail sales data follow robust May job growth numbe
  
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• BRIEF-Pearl Gold receives offer from Wassoul'Or SA on claim

  11-06-2015 18:37
  * Has received a letter from expert appointed by local court
  in Bamako in insolvency proceedings concerning Wassoul'Or SA
  
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• Elliott urges Citrix to sell units, buy back shares

  11-06-2015 18:36
  (Reuters) - Activist investor Elliott Management Corp said cloud-computing software maker Citrix Systems Incshould sell some units, cut costs and buy back shares to make up for six years of...
  
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• US household wealth reaches new high of nearly $85 trillion

  11-06-2015 18:36 via news.yahoo.com
  
  WASHINGTON (AP) — A rising stock market and climbing home prices boosted Americans' net worth to a new high in the first three months of the year.
  
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• Bundesbank official says euro country insolvency should be possible

  11-06-2015 18:29
  FRANKFURT, June 11 (Reuters) - It should be possible for
  euro zone countries to become insolvent, a senior official at
  Germany's central bank said on Thursday.
  
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• Cinven's purchase of Telekom Slovenia delayed by hitch

  11-06-2015 18:18
  
  LJUBLJANA (Reuters) - A deal for British investment fund Cinven [CINV.UL] to buy Telekom Sloveniahas not yet been finalised because of haggling over an amendment to Cinven's bid.
  
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• Royal Mail, RBS share sales dominate as FTSE edges higher

  11-06-2015 18:05
  * RBS rallies on news of sooner-than-expected stake sale (Updates with closing prices)
  
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• U.S. economy seen growing 1.9 percent in second quarter: Atlanta Fed

  11-06-2015 17:50 via news.yahoo.com
  
  NEW YORK (Reuters) - The U.S. economy is projected to expand by 1.9 percent in the second quarter following government data that showed an in-line forecast of a 1.2 percent increase in retail sales in May, Atlanta Federal Reserve's GDPNow forecast model showed on Thursday.
  
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• Wall St. off session highs as IMF quits Greece talks

  11-06-2015 17:46 via news.yahoo.com
  
  The Dow Industrial average touched its highest in six trading days earlier in the session after data showed that retail sales surged in May, the latest sign that a recovery in the U.S. economy was finally gathering steam. U.S. retail sales increased 1.2 percent in May, topping the 1.1 percent growth expected by economists, as households boosted purchases of automobiles and a range of other goods even as they paid a bit more for gasoline. Solid retail sales data followed robust job growth numbers
  
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• Woodford exits bets on Sanofi, adds drug, tech firms

  11-06-2015 17:43
  LONDON (Reuters) - Woodford Investment Management sold out of French pharmaceutical firm Sanofi in May on valuation grounds, the money manager said on Thursday, and instead added several smaller...
  
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• UPDATE 4-RBS shares rise despite Labour criticism of share sale

  11-06-2015 17:42
  * Analysts expect demand from U.S. institutions (Adds comment from Treasury Committee chairman, closing shares)
  
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• HealthSouth to buy rehab hospital operator for $730 million

  11-06-2015 17:39
  (Reuters) - HealthSouth Corpsaid it would buy a private rehabilitation hospital operator for $730 million in cash to take its post-acute care business into new markets.
  
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• As currency dies, Zimbabweans will get $5 for 175 quadrillion local dollars

  11-06-2015 17:38 via news.yahoo.com
  
  By MacDonald Dzirutwe HARARE (Reuters) - Zimbabweans will start exchanging 'quadrillions' of local dollars for a few U.S. dollars next week, as President Robert Mugabe's government discards its virtually worthless national currency, the central bank said on Thursday. The southern African country started using foreign currencies like the U.S. dollar and South African rand in 2009 after the Zimbabwean dollar was ruined by hyper-inflation, which hit 500 billion percent in 2008. At th
  
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• Hess to sell half of Bakken midstream assets for $2.68 billion

  11-06-2015 17:26
  (Reuters) - Oil and natural gas producer Hess Corpsaid it would sell half of its Bakken midstream assets to private equity firm Global Infrastructure Partners for $2.68 billion and form a joint...
  
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• Sout Africa economic growth of 2 pct this year "realistic": Nene

  11-06-2015 17:22 via news.yahoo.com
  
  CAPE TOWN (Reuters) - South Africa's 2015 economic growth forecast of 2 percent is "attainable and realistic" and would have been significantly higher if there were no electricity shortages, Finance Minister Nhlanhla Nene said on Thursday. Africa's most developed economy would have grown between 2.5 and 3 percent this year had there not been chronic electricity constraints, Nene said in a written response to parliamentary questions released on Thursday.
  
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• Average US rate on 30-year mortgage jumps to high for year

  11-06-2015 17:12 via news.yahoo.com
  
  WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped this week to their highest levels this year, with the key 30-year rate topping 4 percent for the first time since late 2014.
  
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• Metals investor Kaplan raises $200 million for acquisition fund

  11-06-2015 17:09
  NEW YORK (Reuters) - Prominent metals investor Thomas Kaplan raised $200 million, more than expected, from investors eager to join him in making acquisitions in an industry starved for cash.
  
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• European shares retreat after IMF comments on Greece

  11-06-2015 17:01
  LONDON, June 11 (Reuters) - Top European shares took a hit on Thursday afternoon after the International Monetary Fund said "major differences" remained with Greece over an agreement to save the...
  
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• TSX steady as commodities weigh on resources, offsetting gains

  11-06-2015 16:57 via news.yahoo.com
  
  By Solarina Ho TORONTO (Reuters) - Canada's main stock index was little changed in choppy trading on Thursday as energy and mining stocks fell along with softer commodity prices, offsetting gains from other sectors including industrials and healthcare. Oil, which is priced in U.S. dollars, fell on the stronger greenback and after a World Bank report forecast the global economy would expand below its 3 percent forecast in January. Suncor Energy was the biggest drag, down 1.1 percent at 35.85
  
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• Rupert Murdoch preparing to step down as Fox CEO - reports

  11-06-2015 16:46 via news.yahoo.com
  
  (Reuters) - Rupert Murdoch, the 84-year-old chief executive of Twenty-First Century Fox Inc, is preparing to step down and name his son James as successor, CNBC reported on Thursday, citing sources close to the Murdoch family. The elder Murdoch would stay on as chairman, according to the CNBC report. The Murdochs own 39 percent of voting shares in Fox and News Corp, the company that operates newspapers like The Wall Street Journal and book publisher HarperCollins, through a family trust.
  
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• Bank of Canada: risks edge up on household debt, low oil

  11-06-2015 16:40 via news.yahoo.com
  
  By Randall Palmer and Leah Schnurr OTTAWA (Reuters) - Risks to the Canadian financial system have edged up because of high household debt and the associated economic impacts of low oil prices, the Bank of Canada concluded on Thursday in its Financial Stability Review (FSR). "We judge that the vulnerability associated with household indebtedness is edging higher, and the overall risk to financial stability in Canada is slightly higher than it was at the time of our December FSR," Governor Stephen
  
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• Strong U.S. retail sales boost growth outlook

  11-06-2015 16:32 via news.yahoo.com
  
  U.S. retail sales surged in May as households boosted purchases of automobiles and a range of other goods even as they paid a bit more for gasoline, the latest sign economic growth is finally gathering steam. While other data on Thursday showed a slight increase in new applications for unemployment benefits, the number remained in territory associated with a tightening labor market. Retail sales increased 1.2 percent last month after an upwardly revised 0.2 percent gain in April, the Commerce De
  
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• U.S. House navigates toward vote on 'fast-track' for Obama trade pact

  11-06-2015 16:29 via news.yahoo.com
  
  By Richard Cowan and Krista Hughes WASHINGTON (Reuters) - The U.S. House of Representatives on Thursday will debate a package of bills central to President Barack Obama's push for a Pacific Rim trade pact, with considerable doubt still lingering about the outcome expected by week's end. The core of the debate is a bill, already approved by the Senate, that would give Obama "fast-track" trade negotiating authority. If fast-track is approved, it would go to Obama's desk to
  
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• Oil drops on stronger dollar, persistent oversupply concerns

  11-06-2015 16:25 via news.yahoo.com
  
  Oil prices continued to decline on Thursday due to a stronger dollar and a gloomy economic forecast by the World Bank, while a bullish International Energy Agency (IEA) report on global demand failed to dispel concerns over a supply glut. In its twice-yearly Global Economic Prospects report, the World Bank predicted that the global economy would expand by 2.8 percent this year, below its 3 percent outlook in January, with India recording the strongest growth among major economies for the first t
  
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• U.S. should ditch 'outdated' oil export ban: Harvard

  11-06-2015 16:18 via news.yahoo.com
  
  By Richard Valdmanis BOSTON (Reuters) - The United States must lift an "outdated" ban on oil exports to take full economic and geopolitical advantage of its hydraulic fracturing boom, according to a study by Harvard Business School and Boston Consulting Group released on Wednesday. Lifting the 40 year-old ban imposed after the Arab oil embargo and easing restrictions on liquefied natural gas export terminals would add $23 billion to the economy by 2030, create tens of thousands of jobs, and prov
  
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• Founder Chip Wilson looking at sale of entire Lululemon stake

  11-06-2015 16:18
  
  TORONTO (Reuters) - Chip Wilson, who founded Lululemon Athletica Incand left its board earlier this year after disagreements with fellow directors, is now looking to potentially sell his family's...
  
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• Egypt government approves proposal to set up sovereign investment fund

  11-06-2015 16:17 via news.yahoo.com
  
  The Egyptian government said on Thursday it had approved a proposal to set up a sovereign investment fund to support economic development through returns on the state's assets and resources. The fund, called Amlak, will be state-owned through the National Investment Bank. It will act as the state's investment arm and aim to encourage diversification and support sustainable economic and social development, the cabinet said in a statement.
  
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