Finance news

• States line up to scrutinize Aetna's $33 billion Humana deal

  10-07-2015 23:44
  
  NEW YORK/WASHINGTON (Reuters) - U.S. insurance regulators and state attorneys general are lining up to scrutinize Aetna Inc's proposed $33 billion takeover of rival Humana Inc for potential harm to...
  
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• The climbdown from Greece's radical policy agenda

  10-07-2015 23:19 via news.yahoo.com
  
  The Greek radical left Syriza government of Prime Minister Alexis Tsipras startled supporters by submitting on Friday a cuts-loaded package to secure a new eurozone bailout, barely a week after holding a referendum that rejected further austerity. In five months of negotiation with EU-IMF creditors since its election in January, the Syriza government has moved a long way from its electoral promises to wipe out the country's huge debt, raise wages and restore labour rights. Syriza based much
  
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• Halliburton, Baker Hughes extend DoJ review date for deal

  10-07-2015 23:15
  
  (Reuters) - Halliburton Coand Baker Hughes Inchave agreed with the U.S. Department of Justice to extend the date of the department's review of Halliburton's acquisition of Baker Hughes, a deal...
  
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• NYSE short interest fell 0.4 percent in late June

  10-07-2015 22:43 via news.yahoo.com
  
  NEW YORK (Reuters) - Short interest on the New York Stock Exchange fell 0.4 percent in late June, the exchange said on Friday. As of June 30, short interest fell to about 16.063 billion shares, compared with 16.131 billion shares as of June 15. Investors who sell securities short borrow shares and then sell them, expecting the stock to fall so they can buy the shares back at the lower price, return them to the lender and pocket the difference.
  
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• Commodity prices in spotlight on China woes

  10-07-2015 22:33 via news.yahoo.com
  
  Commodity prices faced some heavy selling this week as the spotlight fell on the impact of China's stock market crash, while uncertainty over Greece added to the downward pressure. "The idea that a stock market crash could put a hole in China’s economy and reduce demand from the world's biggest resource-consumer is adding to the pain for commodities," said CMC Markets analyst Jasper Lawler. OIL: With prices already downbeat, the International Energy Agency (IEA) on Friday f
  
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• Exclusive: RBS looking to sell $5 billion Greek shipping loan business

  10-07-2015 22:22
  
  LONDON/ATHENS (Reuters) - Royal Bank of Scotlandis winding down its Greek operation and is putting its $5 billion shipping loans portfolio up for sale as the group scales back non-core activities,...
  
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• Financial ETF investors look for boost from bank earnings

  10-07-2015 22:20
  NEW YORK (Reuters) - With a slew of big banks reporting results next week, the key financial exchange traded fund has been drawing strong inflows, and trading in its options appears bullish.
  
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• Lockheed in the lead to buy Sikorsky from United Tech: source

  10-07-2015 22:01
  
  (Reuters) - Lockheed Martin Corpis the leading candidate to buy United Technologies Corp'sSikorsky helicopter unit in a deal that could value the business at more than $8 billion, a source...
  
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• Lehman's Fuld defeats employee lawsuit over retirement losses

  10-07-2015 21:48 via news.yahoo.com
  
  A federal judge on Friday dismissed a lawsuit by former Lehman Brothers Holdings Inc employees seeking to hold onetime Chief Executive Richard Fuld liable for their retirement plan losses as the Wall Street bank plunged into its 2008 bankruptcy. U.S. District Judge Lewis Kaplan in Manhattan rejected claims that Fuld breached an obligation to share what he knew about Lehman's fast-deteriorating finances with officials who oversaw the plan, where Lehman stock was an investment option. The jud
  
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• Global stocks rally, euro jumps on hopes for Greece

  10-07-2015 21:41 via news.yahoo.com
  
  By Caroline Valetkevitch NEW YORK (Reuters) - Global stock markets rallied while the euro rose broadly on Friday on optimism that last-minute concessions by Greek Prime Minister Alexis Tsipras would clinch a deal with international creditors and save the country from bankruptcy. The euro jumped against the yen and investors cut safe-haven holdings in U.S. Treasuries, putting the 30-year bond's yield on course for its biggest two-day increase in two years.
  
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• Hard economic times hit Puerto Rico

  10-07-2015 21:37 via news.yahoo.com
  
  The sun is bright and the beaches are great but there's trouble in paradise: Puerto Rico is drowning in debt and its people are feeling the sting of economic crisis. Consider the plight of Jorge Telon, who runs a chain of department stores frequented by working class Puerto Ricans.
  
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• FCA's Marchionne says Ferrari IPO filing 'just days away'

  10-07-2015 21:03
  
  (Reuters) - Fiat Chrysler Automobiles NVCEO Sergio Marchionne said Friday the company is "just days away from filing a prospectus" with U.S. stock regulators to list shares in its Ferrari S.p.A...
  
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• Modest French economic reform bill becomes law

  10-07-2015 21:02 via news.yahoo.com
  
  PARIS (AP) — France's Socialist government has cleared a final legislative hurdle on an economic reform bill that will make layoffs easier and let stores stay open more often to boost job creation and growth.
  
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• Oil prices rise on China, Greece

  10-07-2015 20:05 via news.yahoo.com
  
  Oil prices ended the week firmer Friday, lifted by a recovery in share prices in China, which is the world's biggest consumer of energy and major buyer of commodities generally. The crude market won a boost also from surging European stock markets, that were lifted mainly by hopes of a deal between Greece and its creditors. The International Energy Agency meanwhile forecast that global oil demand growth would slow in 2016 and that oil production in nations outside the Organization of the Pe
  
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• Gunmaker Colt gets bankruptcy loan that empowers bondholders

  10-07-2015 20:00
  WILMINGTON, Del., July 10 (Reuters) - Bankrupt gunmaker Colt
  Holdings received court approval on Friday for a new financing
  package that empowers its bondholders at the expense of its
  private equity...
  
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• Spain improves unemployment, debt outlook

  10-07-2015 19:32 via news.yahoo.com
  
  The Spanish government on Friday lowered its 2015 forecasts for unemployment and public debt, bolstering its claims of a surging economic recovery months ahead of a general election. The economy ministry said the Spanish economy would create more than 600,000 jobs this year and start to chip away from next year at its debt mountain. "For the first time since the start of the crisis in 2008, the Spanish economy is starting to see the light at the end of the tunnel," Economy Minister Lui
  
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• Yellen: Fed still on track to raise rates this year

  10-07-2015 19:12 via news.yahoo.com
  
  WASHINGTON (AP) — Federal Reserve Chair Janet Yellen said the Fed is on track to start raising interest rates later this year but expressed multiple concerns over headwinds that are still holding back the U.S. economy.
  
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• Eurozone stocks surge on Greek deal hopes

  10-07-2015 18:32 via news.yahoo.com
  
  The eurozone's major stock markets surged around three percent Friday on hopes that Greece and its creditors were close to a deal to keep it in the euro after Athens' latest proposals. Sentiment was also soothed by another sharp rebound on the troubled Chinese stock market after a month-long rout, dealers said. The heads of the European Commission, International Monetary Fund, European Central Bank and the eurozone were to discuss Friday a last-ditch Greek reform plan submitted in a bi
  
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• FTSE 100 risers: Financials flying, retailers bounce on minimum wage revision

  10-07-2015 18:31 via news.yahoo.com
  
  (ShareCast News) - London's blue chips breezed higher on a sunny Friday afternoon, buoyed by China's stock market bounce and renewed hopes of a deal for Greece, and with financial stocks leading the charge....
  
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• UPDATE 1-Developer of Bahamas resort accuses Chinese of sabotage, fraud

  10-07-2015 18:10
  July 10 (Reuters) - The developer of the unfinished $3.5
  billion Baha Mar mega resort in the Bahamas has accused China
  Construction America of cutting power to the work site,
  inflating expenses and...
  
  Read more

• US stocks rise on optimism that Greek debt deal will be done

  10-07-2015 18:01 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks are moving higher on speculation that Greece will be able to forge a deal with creditors this weekend to secure its future in the euro. Investors were also encouraged by a second day of gains in China's stock market, suggesting that the government has managed to stem a market rout.
  
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• Janus fund, overseen by Bill Gross, posts $39.1 million outflow in June

  10-07-2015 18:00
  NEW YORK (Reuters) - The Janus Global Unconstrained Bond Fund, overseen by Bill Gross, posted cash withdrawals of $39.1 million in June, the second consecutive month of outflows for the portfolio,...
  
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• French parliament adopts controversial economic reforms

  10-07-2015 17:56 via news.yahoo.com
  
  France's parliament adopted a key package of economic reforms Friday, after an agonising passage in which the government forced the measures through the house without a vote three times. Prime Minister Manuel Valls on Thursday again resorted to a little-used constitutional procedure to push through the reforms -- which are seen as vital to energise France's sluggish economy -- without lawmakers voting. The Socialist government survived two confidence votes in less than six months over
  
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• Germany blind to own debt past in Greece crisis, say critics

  10-07-2015 17:26 via news.yahoo.com
  
  Berlin's refusal to grant debt forgiveness to Greece has exposed it to charges of hypocrisy by critics who point out Germany's own post-war 'economic miracle' was based on Western largesse. Greece's hard-left Prime Minister Alexis Tsipras, and several leading economists, have pointed out that Germany's post-World War II economic recovery came after lenders forgave the shattered nation over half its debt. Chancellor Angela Merkel's government, while maintaining
  
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• Stocks, euro jump on Greek bid to set debt deal

  10-07-2015 17:24 via news.yahoo.com
  
  Global stock markets jumped while the euro rose broadly on Friday on optimism that last-minute concessions by Greek Prime Minister Alexis Tsipras would clinch a deal with the country's international creditors and save it from financial meltdown. The euro jumped more than 2 percent against the yen, while gold prices edged higher. "Should Greece find a momentary fit to its budgetary problems and stay in the euro zone, it would peel away a thick layer of uncertainty for the euro," sa
  
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• TSX bounces higher as Greece, China hopes calm markets

  10-07-2015 17:23 via news.yahoo.com
  
  By Solarina Ho TORONTO (Reuters) - Canada's main stock index rose on Friday on market optimism that the recent turmoil over the Greek debt crisis and China's stock market dive has calmed down. Investors were hopeful that last-minute concessions by debt-laden Greece could result in a deal with its global creditors. In China, stocks, which had been plunging on panic selling, found some stable ground after support measures from Beijing appeared to be working. "Everything's settl
  
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• Wall Street higher on hopes of Greek debt deal

  10-07-2015 17:16 via news.yahoo.com
  
  All three major indexes were up more than 1 percent in morning trading, with the Dow Jones industrial average and S&P 500 in positive territory for the month. U.S. markets fell sharply earlier in the week as concerns over a slowdown in China, a drop in commodity prices and the Greek debt crisis spooked investors. "The markets are higher today because the combined pressure of Greece and China seem to have been elevated a little," said Mohannad Aama, managing director at Beam Capital
  
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• BRIEF-Dazhou Xingye to set up U.S. unit Inkstone Media

  10-07-2015 16:45
  Further company coverage: (Reporting by Hong Kong and Singapore newsrooms)
  
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• CORRECTED-Study links Prozac, Paxil use with birth defects

  10-07-2015 16:45
  July 9 (Reuters) - A sweeping government study of thousands of women has found links between the older antidepressants Prozac and Paxil and birth defects, but has cleared other popular treatments in...
  
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• Teck delays high-cost Canada oil sands project

  10-07-2015 16:44
  TORONTO, July 10 (Reuters) - Teck Resources Ltd is delaying development of its massive, high-cost Frontier oil sands project in northern Alberta by five years at a time when oil prices show few signs...
  
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• UPDATE 1-TD Ameritrade has "widespread" order-routing issues -officials

  10-07-2015 16:39
  NEW YORK, July 10 (Reuters) - TD Ameritrade Holding Corp , parent of the biggest discount brokerage by trade executions, is experiencing "widespread" problems executing orders, including those it has...
  
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• Developer of Bahamas resort accuses Chinese firm of sabotage

  10-07-2015 16:39
  July 10 (Reuters) - The developer of the unfinished $3.5
  billion Baha Mar mega resort in the Bahamas accuses China
  Construction America of recently sabotaging the project by
  cutting power to the work...
  
  Read more

• UPDATE 1-Janus fund, overseen by Bill Gross, posts $39.1 mln outflow in June

  10-07-2015 16:38
  NEW YORK, July 10 (Reuters) - The Janus Global Unconstrained Bond Fund, overseen by Bill Gross, posted cash withdrawals of $39.1 million in June, the second consecutive month of outflows for the...
  
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• UPDATE 2-Saudi Arabia issues first sovereign bonds since 2007, more to come

  10-07-2015 16:30
  * Step towards developing local debt market (recasts with analysis, context)
  
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• Janus fund, overseen by Bill Gross, posts $39.1 mln outflow in June

  10-07-2015 16:24
  NEW YORK, July 10 (Reuters) - The Janus Global Unconstrained Bond Fund, overseen by Bill Gross, posted cash withdrawals of $39.1 million in June, the second consecutive month of outflows for the...
  
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• UPDATE 1-Russia's Putin calls for lifting all sanctions against Iran

  10-07-2015 16:21
  UFA, Russia, July 10 (Reuters) - Russian President Vladimir Putin called on Friday for sanctions on Iran to be lifted as soon as possible after a deal is reached on Tehran's nuclear...
  
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• China market blow-out has Hong Kong basking in financial hub glow

  10-07-2015 16:19 via news.yahoo.com
  
  Less than a year after huge street protests prompted a re-think about investing in Hong Kong, a wild four-week ride in mainland China's stock markets makes the city's financial hub look like a beacon of seasoned stability. China's many-pronged state intervention in its markets, aimed at steadying share indexes that plunged by close to a third, has played to Hong Kong's strengths as a proven, transparent market - and a safer entry point for those wanting a piece of China in their investment portf
  
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• WRAPUP 5-China stocks jump again as emergency measures bite

  10-07-2015 16:17
  SHANGHAI, July 10 (Reuters) - Chinese stocks rose strongly for a second day on Friday, buoyed by a barrage of government support measures, but worries persist about the long-term impact that four...
  
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• TD Ameritrade has "widespread" order-routing issues -officials

  10-07-2015 16:16
  NEW YORK, July 10 (Reuters) - TD Ameritrade Holding Corp., parent of the biggest discount brokerage firm by trade executions, is experiencing "widespread" problems executing orders, including those...
  
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• GM recalls 780,000 SUVs for possible lift gate issue - AP

  10-07-2015 16:10
  July 10 (Reuters) - General Motors Co is recalling nearly 780,000 crossover SUVs, mainly in North America, because their rear power lift gates can suddenly fall and hit people, the Associated Press...
  
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• Wall St. opens higher on Greek hopes, China bounce

  10-07-2015 16:10 via news.yahoo.com
  
  All the three major indexes were up more than 1 percent, with the Dow Jones Industrial average and the S&P 500 in positive territory for the month. U.S. markets had fallen sharply earlier in the week as concerns over a slowdown in China, a drop in commodity prices and the Greece crisis spooked investors. Global markets were supported by a continued recovery in China's stock market, which rose strongly for a second day, helped by a barrage of support measures from the government.
  
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• UPDATE 1-Dutch government bans shale gas drilling for 5 years

  10-07-2015 16:09
  AMSTERDAM, July 10 (Reuters) - The Dutch government said on Friday it would ban shale gas drilling for five years and not renew existing exploration licences due to uncertainties about the...
  
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• Wall Street opens higher on Greek hopes, China bounce

  10-07-2015 16:08 via news.yahoo.com
  
  Wall Street opened sharply higher on Friday on hopes that Greece might be able secure fresh funding and after China's premier said the country's economic growth was stabilizing. All the three major indexes were up more than 1 percent, with the Dow Jones Industrial average and the S&P 500 in positive territory for the month. U.S. markets had fallen sharply earlier in the week as concerns over a slowdown in China, a drop in commodity prices and the Greece crisis spooked investors.
  
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• US STOCKS-Wall St opens higher on Greek hopes, China bounce

  10-07-2015 16:07
  * Euro zone ministers to meet on Saturday to decide on Greece
  
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• Samsung may unveil Galaxy Note 5 early to beat new iPhone

  10-07-2015 16:07 via news.yahoo.com
  
  The new Note 5 smartphone from Samsung could be announced in August instead of September in an attempt to outshine Apple's next iPhone, says the Wall Street Journal.
  
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• U.S. wholesale inventories rise more than expected

  10-07-2015 16:06 via news.yahoo.com
  
  U.S. wholesale inventories rose at their fastest pace in six months in May, reinforcing the view that economic growth should rebound in the second quarter after a weak first three months of the year. The Commerce Department said on Friday wholesale inventories increased 0.8 percent from a month earlier, more than the 0.3 percent gain forecast by economists polled by Reuters.
  
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• FOREX-Euro rises broadly on Greek deal optimism

  10-07-2015 16:03
  * Fed Chair Yellen to speak (Adds quote, updates prices, changes byline, dateline; previous LONDON)
  
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• Putin says Greece has not asked Russia for aid

  10-07-2015 16:03 via news.yahoo.com
  
  Russian President Vladimir Putin said on Friday Greece had not asked Russia for aid to overcome its debt problems and questioned the European Union's handling of the crisis. "Mr (Prime Minister Alexis) Tsipras has not approached us for any help," Putin told a news conference in the Russian city of Ufa following a security summit and a meeting of the BRICS emerging economies. Greece's debt problems have led to speculation that Russia might come to the aid of its fellow Orthodox Christian country,
  
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• UPDATE 1-Putin says Greece has not asked Russia for aid

  10-07-2015 16:02
  UFA, Russia, July 10 (Reuters) - Russian President Vladimir Putin said on Friday Greece had not asked Russia for aid to overcome its debt problems and questioned the European Union's handling of the...
  
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• U.S. says Greek reforms still needed as deal looks closer

  10-07-2015 16:01 via news.yahoo.com
  
  U.S. Treasury Secretary Jack Lew said Greece and its creditors appeared to be closer to a deal on Friday, adding it is critical that the country make structural reforms and that its unsustainable debt is partially restructured. Lew said he did not expect the U.S. economy to experience "huge turbulence" if negotiations go badly with Greece, whose prime minister abruptly made last-minute concessions to try to save his country from financial meltdown. "If you look at the proposal that's on the tabl
  
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