Finance news

• Stocks, euro slip; caution ahead of more Greek talks

  26-06-2015 23:40 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - World stock markets slipped and the euro fell on Friday, with investors cautious ahead of a meeting in Europe that could decide whether Greece will default on loans. The S&P 500 ended nearly flat, though shares of U.S. chipmakers fell after a weak forecast from Micron Technology Inc . The country needs new funding to avoid defaulting on a $1.8 billion debt repayment to the International Monetary Fund on June 30.
  
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• Gay marriage's big benefit is Social Security

  26-06-2015 23:13
  
  CHICAGO (Reuters) - Friday’s U.S. Supreme Court ruling on same-sex marriage will give a huge boost to the retirement security of LGBT Americans. That will be especially true in the realm of Social...
  
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• Many U.S. companies say supporting marriage equality makes business sense

  26-06-2015 23:11 via news.yahoo.com
  
  From renaming an ice cream flavor to flying the gay movement's rainbow flag, many American corporations celebrated Friday's U.S. Supreme Court decision to legalize same-sex marriage and said it made good sense for their businesses. The broad support for the ruling from corporate leaders could complicate efforts by some state lawmakers and officials who are expected to try and limit gay marriage, despite the high court's decision. "We applaud today's U.S. Supreme Court ruling on marriage equality
  
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• FCA's Jeep delay highlights challenges to a potential merger

  26-06-2015 23:05
  
  DETROIT (Reuters) - Fiat Chrysler Automobiles NV'sJeep brand chief said Friday a redesign of its Grand Cherokee sport utility will be delayed by at least a year, intensifying the challenges Chief...
  
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• Chinese stocks drop, but impact in US is seen as limited

  26-06-2015 22:49 via news.yahoo.com
  
  NEW YORK (AP) — After a sizzling rally that more than doubled the value of China's main stock market over the past year, investors are now heading for the exit.
  
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• Same-sex couples face the music: First comes love, then taxes

  26-06-2015 22:29
  NEW YORK (Reuters) - Getting married is both an emotional decision and an economic one, something that same-sex couples in the states that have allowed them to legally wed have been finding out since...
  
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• S&P 500 ends down week with flat session, semis fall

  26-06-2015 22:27 via news.yahoo.com
  
  The S&P 500 closed flat on Friday but ended lower for the week, with investors cautious ahead of a meeting in Europe that could decide whether Greece will default on critical loans. The Dow closed higher, boosted by strong results from component Nike Inc , while the Nasdaq ended solidly lower on disappointing results from Micron Technology Inc , which weighed on chipmakers like Intel. In Europe, Greece rejected a five-month extension of bailouts on Friday, a day before euro zone finance mini
  
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• UPDATE 2-U.S. bankruptcy judge refuses Molycorp request for loan

  26-06-2015 22:23
  WILMINGTON, Del., June 26 (Reuters) - Molycorp Inc
  failed to get approval from a U.S. Bankruptcy judge
  on Friday to borrow about $44 million at the rare earth
  producer's first bankruptcy hearing.
  
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• S&P 500 ends down week with flat session

  26-06-2015 22:15 via news.yahoo.com
  
  NEW YORK (Reuters) - The S&P 500 closed flat on Friday but ended lower for the week, with investors cautious ahead of a meeting in Europe that could decide whether Greece will default on critical loans.
  
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• IndiGo to file prospectus for $400 million float next week - sources

  26-06-2015 21:37 via news.yahoo.com
  
  By Anshuman Daga and Abhishek Vishnoi SINGAPORE/MUMBAI (Reuters) - India's biggest airline IndiGo is set to file a prospectus next week for a domestic stock market listing, which is expected to raise as much as $400 million, according to three sources with knowledge of the matter. IndiGo, owned by hospitality and travel company InterGlobe Enterprises, is aiming to win approval from India's market regulator in August, before hitting the market later in the year, one of the sources said.
  
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• United Airlines to pay $100 million for Azul stake, for foothold in Brazil

  26-06-2015 21:19
  SAO PAULO/NEW YORK (Reuters) - United Airlines has agreed to pay $100 million for a 5 percent stake in Azul SA, Brazil's third-biggest airline, as it attempts to catch up with U.S. rivals with more...
  
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• U.S. bond yields rise on Greece optimism; stocks slip

  26-06-2015 21:01 via news.yahoo.com
  
  NEW YORK (Reuters) - World stock markets slipped on Friday, in part on weakness in technology shares, while signs of a possible agreement between Greece and its creditors sent U.S. bond yields to nine-month highs by curbing demand for safe-haven U.S. debt.
  
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• UPDATE 1-Latin American mobile service provider NII Holdings emerges from bankruptcy

  26-06-2015 20:55
  June 26 (Reuters) - NII Holdings Inc, a Latin
  American mobile service provider, said it has emerged from its
  Chapter 11 reorganization proceedings.
  
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• Lone Star asks Penn Virginia to consider 'all credible proposals'

  26-06-2015 20:28
  (Reuters) - Penn Virginia Corpshareholder Lone Star Value Management LLC asked the U.S. oil and gas producer to consider strategic alternatives to explore "all credible proposals".
  
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• Consumer Discretionary hedging activity up ahead of earnings

  26-06-2015 20:25
  NEW YORK (Reuters) - Investors who have the most to win if Amazon, Disney and other consumer discretionary companies continue to push the sector higher are getting increasingly nervous, judging by...
  
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• U.S. bankruptcy judge refuses Molycorp request for $225 mln loan

  26-06-2015 20:20
  WILMINGTON, Del, June 26 (Reuters) - Molycorp Incfailed to get approval from a U.S. Bankruptcy judge on Friday to
  borrow $225 million at the rare earth producer's first
  bankruptcy hearing.
  
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• Bond funds worldwide post $3.8 billion outflows in latest week: BofA

  26-06-2015 20:13
  NEW YORK (Reuters) - Investors worldwide pulled $3.8 billion out of bond funds in the week ended June 24 on growing expectations that the Federal Reserve will hike interest rates this year, data from...
  
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• CORRECTED-Latin American mobile service provider NII Holdings emerges from bankruptcy

  26-06-2015 20:10
  June 26 (Reuters) - NII Holdings Inc, a Latin
  American mobile service provider, said it has emerged from its
  Chapter 11 reorganization proceedings.
  
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• Weekahead - Wall Street eyes Greece and Fed; Main St lackadaisical

  26-06-2015 19:54 via news.yahoo.com
  
  By Noel Randewich SAN FRANCISCO (Reuters) - Anxiety about Greece and uncertainty about the timing of higher U.S. interest rates may keep Wall Street on edge early next week, but one ray of hope for investors could be an unusually long streak of ambivalence on Main Street. Seen by some as a contrarian indicator of future stock market performance, a weekly poll of individual investors showed positive sentiment for stocks remained below average for the 16th straight week despite a solid uptick in o
  
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• FedEx says has requested EU approval for $4.9 billion TNT bid

  26-06-2015 19:42
  
  BRUSSELS (Reuters) - FedExhas asked the European Union's competition regulator to approve its 4.4-billion-euro ($4.9 billion) bid for Dutch rival TNT Express , the U.S. package delivery service...
  
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• Nasdaq falls 1 pct as Micron, Intel weigh

  26-06-2015 19:36 via news.yahoo.com
  
  The Nasdaq Composite fell 1 percent in afternoon trading on Friday after weak forecast from Micron Technology dragged down chipmakers including Intel. The Dow Jones Industrial Average, however, was lifted by Nike’s raised sales forecast and better-than-expected U.S. consumer sentiment data. University of Michigan's final reading on the overall index on consumer sentiment for June was 96.1, higher than its preliminary reading of 94.6.
  
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• Nasdaq falls 1 percent as Micron, Intel weigh

  26-06-2015 19:34 via news.yahoo.com
  
  (Reuters) - The Nasdaq Composite fell 1 percent in afternoon trading on Friday after weak forecast from Micron Technology dragged down chipmakers including Intel.
  
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• German budget foresees 3.4 percent spending rise next year

  26-06-2015 19:19 via news.yahoo.com
  
  BERLIN (AP) — The German government plans to increase spending by 3.4 percent next year while borrowing no new money for the third year running — helped by a strong economy that has boosted its tax income.
  
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• K+S shares surge after Potash Corp takeover approach

  26-06-2015 19:16
  
  FRANKFURT (Reuters) - Shares in German potash miner K+Sleapt as much as40 percent on Friday after a takeover proposal from Canada's Potash Corp of Saskatchewan , which sources close to the matter...
  
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• UPDATE 4-K+S shares surge after Potash Corp takeover approach

  26-06-2015 19:14
  * K+S will likely reject offer as too low -sources (Adds Potash shareholder comment, German politician's comments, updates share prices)
  
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• Qbasis gets $200 million-plus investment in 'black swan' hedge fund

  26-06-2015 18:51
  LONDON (Reuters) - A hedge fund that more than doubled clients' money during the 2008 financial crisis has attracted more than $200 million from an investor aiming to cash in on fresh ructions in...
  
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• Pimco CEO says client anxiety fading after star manager's departure

  26-06-2015 18:36
  CHICAGO (Reuters) - Pimco's chief executive officer said on Friday that improving flow trends showed the big bond firm is regaining client confidence after the departure of star manager Bill Gross...
  
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• CORRECTED-UPDATE 3-Obamacare ruling ends threat to U.S. hospitals, insurers

  26-06-2015 18:08
  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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• Former Illinois congressman Reynolds indicted on tax charges

  26-06-2015 18:04 via news.yahoo.com
  
  Former U.S. Representative Mel Reynolds, already convicted of having sex with an underage campaign worker, was indicted again for failing to file income tax returns for 2009 through 2012, federal prosecutors said on Friday. Reynolds, 63, who was charged on Thursday, faces up to a year in prison and a $250,000 fine for each of the four counts against him, according to a statement from the U.S. Attorney's office in Chicago. Reynolds, a Rhodes scholar and one-time promising star of the Democratic P
  
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• FTSE ends lower on weaker miners, Tesco outperforms

  26-06-2015 17:54
  LONDON, June 26 (Reuters) - Britain's top equity index ended lower on Friday, dragged down by mining stocks, though supermarket group Tesco rose after reporting a smaller than expected decline in...
  
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• Big hurdles to Iran nuclear deal as deadline looms

  26-06-2015 17:52 via news.yahoo.com
  
  By John Irish and Louis Charbonneau VIENNA (Reuters) - As a June 30 deadline for a final nuclear deal approaches, major differences remain between Iran and world powers on several key issues including sanctions relief and U.N. access to Iranian sites, a senior Western diplomat said on Friday. "The most difficult subjects need to be resolved in the coming days," the diplomat told reporters on condition of anonymity in the Austrian capital, where talks between the United States, Britain,
  
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• Stocks steady to higher on Greece optimism; U.S. bond yields rise

  26-06-2015 17:47 via news.yahoo.com
  
  NEW YORK (Reuters) - Signs of possible agreement soon between Greece and its creditors steadied world stock markets on Friday and sent U.S. bond yields to nine-month highs by curbing demand for safe-haven U.S. debt.
  
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• U.S. stocks mixed as consumer data eases Greece worries

  26-06-2015 17:44 via news.yahoo.com
  
  University of Michigan's final reading on the overall index on consumer sentiment for June was 96.1, higher than its preliminary reading of 94.6. "Investors are really craving healthy economic data. Any kind of incoming data that is stronger than expected is welcomed by the investor community," said Adam Sarhan, chief executive of Sarhan Capital in New York.
  
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• Usain Bolt's sponsor Digicel files for U.S. IPO

  26-06-2015 17:34
  (Reuters) - Digicel Group Ltd, the Caribbean telecommunications company that sponsors sprinters Usain Bolt and Shelly Ann Fraser-Pryce, filed for an initial public offering of Class A common stock.
  
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• UPDATE 4-Tesco shows signs of UK recovery as turnaround plan takes shape

  26-06-2015 17:22
  * Shares hit six week high (Adds details of AGM vote, more investor comment)
  
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• HSBC ends sponsorship of key emerging market indexes

  26-06-2015 16:58 via news.yahoo.com
  
  Banking giant HSBC has ended its five-year sponsorship of a closely watched series of business activity surveys, financial research group Markit, which compiles the data, said Friday. The HSBC Markit Emerging Markets monthly purchasing managers' indexes (PMI) are seen by economists as a key gauge of manufacturing activity in China and other developing countries, with the results frequently shaking world stock markets. "HSBC's sponsorship of Markit's Emerging Market PMIs has b
  
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• Ad executives cautious about growth, gear up for contract battle

  26-06-2015 16:47 via news.yahoo.com
  
  By Leila Abboud CANNES (Reuters) - The reluctance of big companies to spend at a time of lackluster global growth and fewer major sporting events this year are dampening demand for advertising, said the chief executives of two leading ad agencies. In separate interviews on Friday, Martin Sorrell of WPP and Maurice Levy of Publicis sounded cautious about the prospects for the advertising market, citing a lack of vibrancy in the U.S economy, weakness in Brazil, Russia and China, and Europe's
  
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• How to find the best cyber security insurance for your firm

  26-06-2015 16:33
  
  (Reuters) - A robust cyber security insurance policy can be tricky to procure, even for the most meticulous wealth management firms.
  
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• US STOCKS-U.S. stocks rise slightly on hopes for Greece bailout

  26-06-2015 16:24
  * Indexes up: Dow 0.59 pct, S&P 0.24 pct, Nasdaq 0.04 pct (Updates to open)
  
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• TUI offers to fly Tunisia tourists home

  26-06-2015 16:24
  FRANKFURT, June 26 (Reuters) - German tour operator TUI said on Friday that it is organising flight for tourists wishing to return from Tunisia after at least one gunman killed 27 people or more at a...
  
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• PRECIOUS-Gold hits 3-week low ahead of talks to clinch Greek debt deal

  26-06-2015 16:23
  * Palladium slides to near 2-year low at $666.82/oz (Releads, updates prices, adds comment)
  
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• UPDATE 2-Mexico May factory exports plunge, consumer imports jump

  26-06-2015 16:17
  MEXICO CITY, June 26 (Reuters) - Mexico's factory exports suffered their biggest fall in over two years in May, pointing to weaker demand from its main trade partner, the United States, though a jump...
  
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• BRIEF-Air Products says can confirm incident occurred at facility in L'Isle-d'Abeau, France

  26-06-2015 16:13
  * Says "can confirm that an incident occurred at our facility L'Isle-d'Abeau, france, this morning"
  
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• EU's Juncker "quite optimistic" of deal with Greece

  26-06-2015 16:06
  BRUSSELS, June 26 (Reuters) - European Commission President Jean-Claude Juncker said on Friday he was "quite optimistic but not over-optimistic" of a deal with Greece on a cash-for-reform deal at a...
  
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• BRIEF-Chemical Specialities seeks extension to publish business rescue plan

  26-06-2015 16:05
  * Distributed a notice letter to all affected persons of
  company of application in terms of section 150(5) of Companies
  Act 71 of 2008 for a further extension of time to publish
  business rescue plan
  
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• IndiGo to file prospectus for $400 mln float next week - sources

  26-06-2015 16:04 via news.yahoo.com
  
  SINGAPORE/MUMBAI (Reuters) - India's biggest airline IndiGo is set to file the prospectus next week for a domestic stock market listing, expected to raise as much as $400 million, three sources with knowledge of the matter said. IndiGo, owned by hospitality and travel company InterGlobe Enterprises, is aiming to get approval from India's market regulator in August, before hitting the market later in the year, one of the sources said. IndiGo, founded in 2006, has used its low-cost model
  
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• WRAPUP 2-Tsipras denounces "blackmail"; EU warns of "game over"

  26-06-2015 16:01
  BRUSSELS, June 26 (Reuters) - Greek Prime Minister Alexis Tsipras accused international creditors of "blackmail" on Friday after euro zone partners offered to release billions in frozen aid in a...
  
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• Exxon Beaumont, Texas refinery workers approve six-year labor pact

  26-06-2015 15:59
  HOUSTON, June 26 (Reuters) - Unionized workers at Exxon Mobil Corp's Beaumont, Texas, refinery agreed to an unusually long six-year contract on Thursday night, which sources say the company pushed to...
  
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• Dijsselbloem has good chance of remaining Eurogroup head: Dutch PM

  26-06-2015 15:58 via news.yahoo.com
  
  BRUSSELS (Reuters) - Dutch finance minister Jeroen Dijsselbloem has a good chance of being re-elected as the head of the Eurogroup of euro zone finance ministers but nothing is certain, Dutch Prime Minister Mark Rutte said on Friday. Dijsselbloem, whose term expires on July 21, is widely seen continuing in the job, though Spanish Economy Minister Luis de Guindos has been put forward as a possible successor. "My impression is that Dijsselbloem can sleep well, though you never know. These are
  
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• Top Brazil congressman says Petrobras subsalt rule to be corrected

  26-06-2015 15:55
  RIO DE JANEIRO, June 26 (Reuters) - Brazil's president of the lower house, Eduardo Cunha, said on Friday that a requirement in the national oil law that state-run oil producer Petroleo Brasileiro SA,...
  
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