Finance news

• Texas power company Energy Future scraps bankruptcy auction plan

  25-06-2015 23:50
  June 25 (Reuters) - Texas' largest power company, Energy
  Future Holdings Corp, has scrapped a bankruptcy exit plan
  centered on the sale of its multibillion dollar power line stake
  and instead will...
  
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• U.S.-based taxable bond funds attract $3.4 billion in week: Lipper

  25-06-2015 23:33
  NEW YORK (Reuters) - Investors in U.S.-based funds poured $3.4 billion into taxable bond funds in the week ended June 24, marking the first inflows into the funds in three weeks, data from Thomson...
  
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• Canada's Valeant approaches to buy Zoetis: WSJ

  25-06-2015 23:26 via news.yahoo.com
  
  Canada-based drugmaker Valeant Pharmaceuticals International Inc has approached to buy Zoetis Inc , an animal-health company, the Wall Street Journal reported. Shares of Zoetis, whose pipeline includes ...
  
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• UPDATE 1-Canada's Valeant approaches to buy Zoetis - WSJ

  25-06-2015 23:21
  June 25 (Reuters) - Canada-based drugmaker Valeant Pharmaceuticals International Inc has approached to buy Zoetis Inc, an animal-health company, the Wall Street Journal reported.
  
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• Slow start after Saudis open stock market to foreigners - U.S. fund managers

  25-06-2015 23:02 via news.yahoo.com
  
  One week after Saudi Arabia opened its stock market to direct foreign investment, U.S. mutual fund managers say they are interested but not rushing to invest in the Middle East's biggest economy. Foreign fund inflows are slower than initially expected, in part because U.S. fund companies like Fidelity and Harding Loevner are digesting numerous regulations set forth by the Saudi Capital Market Authority (CMA) for participation in the $575 billion market. "Investors are in the learn and plan stage
  
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• Stocks, oil slip with eyes on Greece; hospital shares jump

  25-06-2015 22:53 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - Global stock markets and oil prices edged lower on Thursday on lingering worries over Greece, though a Supreme Court ruling upholding tax subsidies drove U.S. hospital stocks to record highs. Concerns over the possible impact of Greece's debt crisis on European energy demand weighed on crude prices along with weaker U.S. refined fuels. A failure on Thursday to clinch a deal between Athens and its three creditor institutions - the International M
  
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• UPDATE 2-Germany's K+S confirms takeover proposal from Potash Corp

  25-06-2015 22:49
  June 25 (Reuters) - German potash producer K+S said on Thursday it has received a takeover proposal from larger Canadian rival Potash Corp of Saskatchewan Inc, starting a new takeover saga in the...
  
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• Valeant offers to buy Zoetis: WSJ

  25-06-2015 22:35 via news.yahoo.com
  
  (Reuters) - Canada-based drugmaker Valeant Pharmaceuticals International Inc has approached to buy Zoetis Inc , an animal-health company, the Wall Street Journal reported. Zoetis, spun off from Pfizer Inc in 2013, was valued at $24.85 billion as of Thursday's close, according to Thomson Reuters data. It was not clear what Zoetis's reaction to the approach was, if any, or whether it was open to a sale, the Journal reported, citing people familiar with the matter. (http://on.wsj.com/1fGK
  
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• Corrected - U.S. intelligence chief: China top suspect in hack of US agency: WSJ

  25-06-2015 22:25 via news.yahoo.com
  
  The United States' intelligence chief said on Thursday that China was the top suspect in a hack of a U.S. agency that compromised the personnel records of millions of Americans, the Wall Street Journal reported on Thursday. The comments from Director of National Intelligence (DNI) James Clapper marked a departure of sorts for the Obama administration, which has avoided publicly pointing to Beijing, even as officials said privately China likely was behind the attack. "You have to kind o
  
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• Nike profit rises 24 percent

  25-06-2015 22:20
  June 25 (Reuters) - Nike Inc, the world's largest footwear maker, reported a 24 percent rise in quarterly profit as it sold more high margin basketball shoes and apparel at higher prices.
  
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• Wall Street ends lower but health stocks rally

  25-06-2015 22:02 via news.yahoo.com
  
  U.S. stocks ended a quiet session with modest losses on Thursday, but healthcare stocks rallied after the U.S. Supreme Court upheld subsidies key to President Barack Obama's signature healthcare reform ...
  
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• UPDATE 3-Obamacare ruling ends threat to U.S. hospitals, insurers

  25-06-2015 21:39
  NEW YORK, June 25 (Reuters) - The U.S. hospital and health insurance industries breathed a collective sigh of relief on Thursday after the U.S. Supreme Court upheld subsidies for individuals under...
  
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• Study finds few female fund managers, a challenge to industry

  25-06-2015 20:59
  CHICAGO (Reuters) - Women are under-represented among mutual fund managers, a new study found, in a gender imbalance that poses challenges for an industry looking to run more money from female...
  
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• Kerry cautiously hopeful before Iran nuclear talks

  25-06-2015 20:41 via news.yahoo.com
  
  By Arshad Mohammed and David Brunnstrom WASHINGTON (Reuters) - U.S. Secretary of State John Kerry said on Thursday he was hopeful about nuclear negotiations with Iran but that he did not wish to convey optimism ahead of a June 30 deadline for a deal. Yes, I am hopeful, but I am not conferring optimism," Kerry told reporters in response to a question after presenting an annual U.S. report on human rights. Kerry flies to Vienna on Friday to join negotiators from six powers and Iran seeking an agre
  
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• UPDATE 1-Penn Virginia shares rise on report of BP offer

  25-06-2015 20:33
  June 25 (Reuters) - Penn Virginia Corp's shares rose as much as 23 percent on Thursday following a report that BP Plc had offered to buy the U.S. oil and gas producer for $8 per share.
  
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• Too few large companies in east Germany, study finds

  25-06-2015 20:24 via news.yahoo.com
  
  The eastern German economy is still struggling to catch up with the west, 25 years after unification, largely because of a lack of large companies in the region, the economy ministry said on Thursday. "Big companies and corporate headquarters are largely absent in east Germany. "The catching up process (between east and west) has stalled," said the ministry's federal commissioner for the new federal states, Iris Gleicke.
  
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• Former Obama aides' letter on Iran consistent with negotiation framework: White House

  25-06-2015 20:17 via news.yahoo.com
  
  A letter published on Wednesday by a group of prominent former aides to President Barack Obama on Iran that urges a robust nuclear deal is "broadly consistent" with the U.S. administration's negotiation framework announced in April, the White House said on Thursday. White House spokesman Josh Earnest said the letter put no additional pressure on negotiators attempting to conclude a deal that would curb Iran's nuclear program in exchange for relief from economic sanctions that have crippled its e
  
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• Brazil unemployment rises to 6.7% in May

  25-06-2015 20:16 via news.yahoo.com
  
  Brasília (AFP) - Brazil's unemployment rate rose to 6.7 percent in May, up from 6.4 percent, officials said Wednesday -- a new five-year high and added bad news for the world's seventh-largest economy. It was the fifth straight month of rising unemployment, which stood at 4.8 percent at the end of last year. Brazil's central bank cut its 2015 economic growth outlook Wednesday, predicting the economy would contract by 1.1 percent this year.
  
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• Armenian PM rejects protesters' demands as anger simmers

  25-06-2015 19:36 via news.yahoo.com
  
  The Armenian government on Thursday refused to reverse a controversial electricity price hike, sparking fresh anger among thousands of demonstrators who have rallied in the capital for a week. Under pouring rain, some 7,000 protesters rallied Thursday evening near the presidential palace after Prime Minister Hovik Abrahamyan said his government would proceed with raising power tariffs despite anger in a country already hard hit by the economic crisis in Russia. Waving national flags, singing pat
  
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• UPDATE 2-Obamacare ruling ends threat to U.S. hospitals, shares rally

  25-06-2015 19:04
  NEW YORK, June 25 (Reuters) - The U.S. hospital industry breathed a collective sigh of relief on Thursday after the U.S. Supreme Court upheld subsidies for individuals under President Barack Obama's...
  
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• Penn Virginia shares rise on report of BP offer

  25-06-2015 18:45
  June 25 (Reuters) - Penn Virginia Corp's shares rose as much as 15.5 percent on Thursday following a report that BP Plc had offered to buy the U.S. oil and gas producer for $8 per share.
  
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• House approves aid for workers hit by trade deals

  25-06-2015 18:45 via news.yahoo.com
  
  WASHINGTON (Reuters) - The U.S. House of Representatives on Thursday voted to renew assistance for American workers hurt by liberalized trade, an important step in President Barack Obama's drive for a massive Pacific Rim trade deal. The House approved the measure in a 286-138 vote. Without action by Congress, the worker aid program would have expired on Sept. 30, just as the Obama administration could be trying to wrap up a 12-nation Trans-Pacific Partnership trade deal encompassing 40 perc
  
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• Bankrupt gun maker Colt gets revised loan, eases rush to sale

  25-06-2015 18:42
  June 24 (Reuters) - Bankrupt gun maker Colt Holdings has
  reached an agreement with its bondholders that will postpone the
  company's rush into a controversial sale to its current private
  equity owner...
  
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• Stocks little changed with eyes on Greece; oil off

  25-06-2015 18:30 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - A Supreme Court ruling upholding tax subsidies boosted some U.S. healthcare stocks to fresh highs on Thursday, while key global equity markets were little changed following a proposal by Greece's creditors to avoid a Greek debt default. Greece's international creditors presented a cash-for-reform proposal to euro zone finance ministers in a showdown with Athens, after negotiations failed to yield a plan to avert a default. On Wall Street, hospital
  
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• European stocks cautious as Greece debt drama drags on

  25-06-2015 18:23 via news.yahoo.com
  
  Europe's leading stock markets were stuck on hold Thursday, with traders remaining cautious as talks meant to deliver a breakthrough in the Greek debt crisis yielded only another delay. Madrid slid 0.12 percent, while Rome managed a gain of 0.85 percent, and Athens' main index ended up 0.10 percent. Earlier optimism that some sort of deal would be worked out to unlock bailout funds Athens needs to avoid defaulting on an IMF loan payment of around 1.5 billion euros on Tuesday had led to
  
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• U.S. official sees way to Iran deal but no guarantees

  25-06-2015 18:21 via news.yahoo.com
  
  By Arshad Mohammed and David Brunnstrom WASHINGTON (Reuters) - U.S. negotiators can see a way to a very good nuclear agreement with Iran and are hopeful, but it remains to be seen whether a pact will be reached, a senior U.S. official said on Thursday. U.S. Secretary of State John Kerry flies to Vienna on Friday to join the negotiations, which seek to reach an agreement under which Iran would curb its nuclear program in exchange for relief from economic sanctions that have crippled its economy.
  
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• U.S. intelligence chief: China top suspect in hack of U.S. agency - WSJ

  25-06-2015 18:16 via news.yahoo.com
  
  The United States' intelligence chief said on Thursday that China was the top suspect in a hack of a U.S. agency that compromised the personnel records of millions of Americans, the Wall Street Journal reported on Thursday. The comments from Director of National Intelligence James Clapper marked a departure of sorts for the Obama administration, which has avoided publicly pointing to Beijing, even as officials said privately China likely was behind the attack. "You have to kind of salu
  
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• Wendel attracts sponsor interest for Stahl, may refinance: sources

  25-06-2015 17:54
  FRANKFURT (Reuters) - Buyout group Wendelhas attracted interest from its private equity peers for its leather chemicals maker Stahl, but may still opt to refinance the business instead of selling...
  
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• Chicken producer Wayne Farms puts IPO in cold storage

  25-06-2015 17:54
  (Reuters) - Wayne Farms Inc , the sixth-largest broiler chicken producer and processor in the United States, said on Thursday it withdrew its initial public offering.
  
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• New Jersey Governor Christie to announce presidential bid Tuesday

  25-06-2015 17:51 via news.yahoo.com
  
  NEW YORK (Reuters) - New Jersey Governor Chris Christie will announce on Tuesday that he is running for the presidency, according to a source familiar with his plans. Christie will join more than a dozen other Republicans who have declared their intention to seek the party's nomination for the November 2016 presidential election. Known for his brash demeanor, Christie has spent time during the past few months in the early voting states of New Hampshire and Iowa laying out a series of policy
  
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• Wall Street up as health stocks rally on Obamacare ruling

  25-06-2015 17:50 via news.yahoo.com
  
  The S&P 500 healthcare index rallied as much as 0.91 percent after the court ruled that the 2010 Affordable Care Act, widely known as Obamacare, did not restrict the subsidies to states that establish their own online healthcare exchanges. The index, which is up 11.3 percent for the year, constituted 15.1 percent of the S&P 500 as of May 29. Healthcare stocks continue to be attractive because the ruling releases the overhang and investors can focus on the operations of these companies, O
  
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• US STOCKS-Wall Street up as health stocks rally on Obamacare ruling

  25-06-2015 17:50 via news.yahoo.com
  
  Healthcare stocks jumped after the U.S. Supreme Court upheld tax subsidies key to Obamacare while a jump in consumer spending sent the broader U.S. market higher. The S&P 500 healthcare index rallied as much as 0.91 percent after the court ruled that the 2010 Affordable Care Act (Frankfurt: 0LW.F - news) , widely known as Obamacare, did not restrict the subsidies to states that establish their own online healthcare exchanges. Healthcare stocks continue to be attractive because the ruling release
  
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• Credit bureau TransUnion's shares rise in debut

  25-06-2015 17:49
  
  (Reuters) - Shares of credit bureau TransUnionrose as much as 10 percent in their debut, valuing the company at about $4.5 billion.
  
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• UK's FTSE knocked back by weak mining stocks and Greek worries

  25-06-2015 17:48
  LONDON, June 25 (Reuters) - Britain's top equity index slipped on Thursday from three-week highs reached in the previous session as weaker mining stocks and persistent concerns over Greece's debt...
  
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• BRIEF-PA Resources seeks extension of corporate reorganisation process

  25-06-2015 17:38
  * PA resources has filed a petition to extend the corporate
  reorganisation
  
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• China Reinsurance mandates banks for up to $2 billion HK share listing: IFR

  25-06-2015 17:24
  HONG KONG (Reuters) - China's biggest reinsurer, China Reinsurance (Group), has mandated China International Capital Corp (CICC), HSBC and UBS AG to help manage a planned Hong Kong initial public...
  
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• Zimbabwe tax agency says companies' arrears are over $1 billion

  25-06-2015 17:16 via news.yahoo.com
  
  Zimbabwean businesses owe more than $1 billion in tax arrears to the government, double the figure in 2013, the national tax agency said on Thursday, as companies struggle in an economy that is slowing sharply. Taxes finance the entire budget in the southern African country because lenders like the International Monetary Fund and World Bank have said they will only resume supporting Zimbabwe once it clears its debts with the global lenders. Gershem Pasi, the Zimbabwe Revenue Authority (ZIMRA) co
  
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• U.S. official says can see way to a good Iran nuclear deal

  25-06-2015 17:14 via news.yahoo.com
  
  U.S. negotiators can see a way to a good nuclear agreement with Iran and are hopeful but it remains to be seen whether a deal will be reached, a senior U.S. official said on Friday. U.S. Secretary of State John Kerry flies to Vienna on Friday to join the negotiations among Iran, the United States and five other nations: Britain, China, France, Germany and Russia. The nations are seeking to reach a deal under which Iran would curb its nuclear program in exchange for relief from economic sanctions
  
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• Magnum Hunter looking to divest stake in pipeline unit

  25-06-2015 17:13
  (Reuters) - Oil and natural gas producer Magnum Hunter Resources Corpsaid it expected to raise $600 million-$700 million by selling its 45.53 percent stake in natural gas gathering subsidiary...
  
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• Broiler chicken producer Wayne Farms withdraws IPO

  25-06-2015 17:12
  (Reuters) - Wayne Farms Inc , the sixth-largest broiler chicken producer and processor in the United States, said on Thursday it withdrew its initial public offering.
  
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• UPDATE 1-Credit bureau TransUnion's shares rise in debut

  25-06-2015 17:09
  June 25 (Reuters) - Shares of credit bureau TransUnion rose as much as 10 percent in their debut, valuing the company at about $4.5 billion.
  
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• Average US rate on 30-year mortgage edges up to 4.02 pct.

  25-06-2015 17:06 via news.yahoo.com
  
  WASHINGTON (AP) — Average long-term U.S. mortgage rates were mixed this week, marking slight increases or declines but remaining close to high levels for the year.
  
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• Diller's IAC woos investors with IPO for Match dating sites

  25-06-2015 16:55
  The media mogul's IAC/Interactive Corpsaid it was planning to list its dating business, which includes the popular dating site Match.com and mobile app Tinder.
  
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• Wall Street up; health stocks jump on Obamacare ruling

  25-06-2015 16:51 via news.yahoo.com
  
  (Reuters) - Wall Street rose on Thursday after consumer spending recorded its largest increase in nearly six years and the U.S. Supreme Court backed Obamacare, boosting healthcare stocks.
  
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• US STOCKS-Wall Street up; health stocks jump on Obamacare ruling

  25-06-2015 16:50 via news.yahoo.com
  
  Wall Street rose on Thursday after consumer spending recorded its largest increase in nearly six years and the U.S. Supreme Court backed Obamacare, boosting healthcare stocks. The S&P 500 healthcare index ...
  
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• European stocks slide as Greece debt drama drags on

  25-06-2015 16:42 via news.yahoo.com
  
  Europe's leading stock markets slid Thursday as traders awaited the outcome of yet more talks between Greece and its creditors. Meanwhile, Athens' main index shot up 1.25 percent. Earlier optimism in European markets that some sort of deal would be worked out were dashed by comments from Germany's influential finance minister Wolfgang Schaeuble ahead of a Eurogroup meeting.
  
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• CFA chief's message to fund industry: 'Work harder for less'

  25-06-2015 16:36
  LONDON (Reuters) - Fund managers and investment professionals face a harder slog for less money as competition from the technology sector and mounting regulation squeeze easy profits, the head of the...
  
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• U.S. hospital, health shares rally after Obamacare ruling

  25-06-2015 16:31
  NEW YORK, June 25 (Reuters) - U.S. hospital shares rallied broadly while health insurers also gained on Thursday after the U.S. Supreme Court upheld the nationwide availability of tax subsidies for...
  
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• LPC-CVC and Temasek to back Alvogen buy with existing $700 million loan

  25-06-2015 16:09
  LONDON (Reuters) - European private equity fund CVC and Singaporean sovereign wealth fund Temasek are seeking to keep an existing $700 million leveraged loan financing for Alvogen in place to back...
  
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• Wall Street opens higher as consumer spending data jumps

  25-06-2015 16:07 via news.yahoo.com
  
  Wall Street opened higher on Thursday as data showed that the U.S. economy was on the path to recovery after consumer spending recorded its largest increase in nearly six years. Investors have been keeping a sharp eye on economic data for signs of a recovery in the U.S. economy, which came to a crawl in the first quarter, as the Federal Reserve prepares to raise interest rates for the first time in almost a decade. The Commerce Department said consumer spending increased 0.9 percent last month,
  
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