Finance news

• U.S.-based taxable bond funds attract $2.6 billion in latest week: Lipper

  16-07-2015 23:48
  NEW YORK (Reuters) - Investors in U.S.-based funds poured $2.6 billion into taxable bond funds in the week ended July 15, marking the funds' second straight week of inflows, data from Thomson...
  
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• BoE's Carney signals rate hike decision around turn of year

  16-07-2015 23:41 via news.yahoo.com
  
  By Andy Bruce and John Geddie LONDON (Reuters) - Bank of England Governor Mark Carney said on Thursday the decision to raise interest rates from record lows will come into sharper focus around the end of this year, his strongest hint yet about the timing of the British central bank's next move. Carney spoke of strong momentum in Britain's economy and described a slowdown at the start of the year as merely a blip. Carney's speech puts the British central bank on track to follow the
  
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• Earnings beat low expectations so far, helping lift stocks

  16-07-2015 23:24 via news.yahoo.com
  
  NEW YORK (AP) — For U.S. investors, low expectations are paying off.
  
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• Yellen: Higher rates won't derail recovery

  16-07-2015 23:18 via news.yahoo.com
  
  WASHINGTON (AP) — Federal Reserve Chair Janet Yellen sought to reassure worried lawmakers on Thursday that when the Fed begins to raise interest rates, it will be careful not to derail the economy.
  
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• U.S. muni bond funds post $29.3 million in outflows: Lipper

  16-07-2015 23:16
  July 16 (Reuters) - U.S. municipal bond funds reported $29.3 million of net outflows in the week ended July 15, compared with $305.7 million in outflows in the previous week, according to data...
  
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• Barclays to pay $800,000 fine for U.S. data reporting errors

  16-07-2015 23:07 via news.yahoo.com
  
  By John McCrank NEW YORK (Reuters) - Wall Street's self-funded watchdog fined a unit of Barclays PLC $800,000 (512,377 pounds) for violations related to how the bank repo...
  
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• Vatican finances in the red, but boosted by newly declared assets

  16-07-2015 23:00 via news.yahoo.com
  
  The Holy See's accounts remained in the red in 2014 but showed more than one billion euros in previously off-the-books assets, a statement said Thursday, following a drive to clean up the Vatican's finances. The annual financial statement, presented by the Pope's economy czar Cardinal George Pell, showed "assets previously off the balance sheet" amounted to 1.1 billion euros ($1.2 billion) while liabilities amounted to 222 million euros -- with net assets increased by 93
  
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• Yellen, Draghi upbeat despite tumult in Greece, China

  16-07-2015 22:56 via news.yahoo.com
  
  WASHINGTON (AP) — The Chinese stock market is experiencing a terrifying freefall, and Greece is teetering on the brink of financial collapse.
  
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• Greek PM says dissidents caused 'trauma' to ruling leftists

  16-07-2015 22:48 via news.yahoo.com
  
  Prime Minister Alexis Tsipras hit out at lawmakers in his leftist Syriza party on Thursday for breaking ranks over the terms of Greece's bailout, further fuelling speculation of an imminent reshuffle.     Thirty eight members of Syriza either rejected the terms or abstained from an overnight parliamentary vote on economic reforms essential for the indebted country to start talks with international lenders on a multi-billion euro bailout.     "Their (choice) flies in the face of comradeship
  
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• Greek banks to reopen after cash pledge from lenders

  16-07-2015 22:44 via news.yahoo.com
  
  ATHENS, Greece (AP) — Greece on Thursday won vital pledges of support from bailout lenders needed to keep its economy from collapsing, but officials in Athens said the painful austerity measures demanded in return were likely to force an election within months.
  
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• UPDATE 1-Brazil to buy back all global bonds due in 2040

  16-07-2015 22:29
  SAO PAULO, July 16 (Reuters) - Brazil's Treasury announced on Thursday it will repurchase all outstanding global bonds due in 2040 for $1.16 billion, a strategy to reduce debt costs and improve the...
  
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• Conoco says cutting deepwater spending, dividend up a penny

  16-07-2015 22:29
  July 16 (Reuters) - ConocoPhillips said on Thursday it will reduce future spending on deepwater drilling due to low crude oil prices while raising its dividend one cent.
  
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• Schlumberger second-qtr profit plunges on restructuring charges

  16-07-2015 22:29
  July 16 (Reuters) - Schlumberger Ltd, the world's No. 1 oilfield services provider, reported a 29.5 percent drop in quarterly profit, mainly due to restructuring charges.
  
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• Washington urges debt sustainability in Greek deal

  16-07-2015 22:28
  WASHINGTON, July 16 (Reuters) - U.S. Treasury Secretary Jack Lew on Thursday urged top German and French officials to hammer out a debt deal with Greece that will ensure Athens is able to pay its...
  
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• Goldman profit hit by big legal provision, weak bond trading

  16-07-2015 22:27
  
  (Reuters) - Goldman Sachs Group Inc reported its smallest quarterly profit in nearly four years on Thursday as it set aside more than $1 billion to cover potential mortgage settlements, and nervous...
  
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• U.S. FCC set to reject Dish entities' $3.3 bln auction discounts - WSJ

  16-07-2015 22:26
  July 16 (Reuters) - The U.S. Federal Communications Commission is set to reject $3.3 billion worth of discounts requested by partners of Dish Network Corp, SNR Wireless and NorthStar Wireless, in the...
  
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• Hillary Clinton proposes tax cuts for profit-sharing firms

  16-07-2015 22:26 via news.yahoo.com
  
  By Amanda Becker DOVER, N.H. (Reuters) - Democratic U.S. presidential candidate Hillary Clinton announced a new plan to give businesses two-year tax credits for sharing profits with workers at a New Hampshire campaign stop Thursday. Clinton detailed the first component of her economic platform aimed at raising middle-class incomes at a town hall meeting in Dover, citing local examples of businesses that share profits with employees. "If you treat somebody like they have a stake in your busi
  
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• UPDATE 1-TECO Energy contemplates sale, shares jump

  16-07-2015 22:25
  NEW YORK, July 16 (Reuters) - TECO Energy shares hit a six-month high in Thursday trading after the company said it is "exploring strategic alternatives."
  
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• UPDATE 1-Ad revenue growth helps Google's 2nd-qtr profit trump estimates

  16-07-2015 22:22
  July 16 (Reuters) - Google Inc's posted a better-than-expected quarterly profit for the first time in the last six quarters, helped by strong growth in advertising revenue.
  
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• Wall St rises; eBay, Netflix push Nasdaq to record high

  16-07-2015 22:22 via news.yahoo.com
  
  Wall Street ended stronger on Thursday, with the Nasdaq up over 1 percent at a record high after earnings reports from eBay and Netflix boosted optimism. Dour quarterly reports from Goldman Sachs and UnitedHealth , however, capped gains on the Dow. "It just proves the U.S. market continues to be resilient in the face of what seems like an endless list of global worries," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa.
  
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• US STOCKS-Wall St rises; eBay, Netflix push Nasdaq to record high

  16-07-2015 22:20
  * Indexes up: Dow 0.39 pct, S&P 0.8 pct, Nasdaq 1.26 pct (Updates to close, adds detail)
  
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• Mattel's quarterly sales fall for seventh straight quarter

  16-07-2015 22:12
  July 16 (Reuters) - Toymaker Mattel Inc's sales fell for the seventh straight quarter as international demand for its Barbie dolls failed to recover.
  
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• CANADA STOCKS-TSX ends up for 5th straight session; banks lead way

  16-07-2015 22:10
  TORONTO, July 16 (Reuters) - Canada's benchmark stock index closed higher on Thursday, its fifth straight gain, as bank shares basked in the afterglow of a Bank of Canada interest rate cut.
  
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• US stocks end higher as Citi, others report strong earnings

  16-07-2015 22:08 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks are closing higher after several big companies reported earnings gains and Greece got help for its banks.
  
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• Google's second-quarter revenue rises 11 pct

  16-07-2015 22:07
  July 16 (Reuters) - Google Inc's second-quarter revenue rose 11 percent, helped by an 11 percent increase in ad sales.
  
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• Fuss of Loomis Sayles says Fed could delay rate hikes till 2016

  16-07-2015 22:07
  July 16 (Reuters) - Bond veteran Dan Fuss, vice chairman of investment firm Loomis Sayles, said on Thursday that it was still highly likely the Federal Reserve could delay raising rates until early...
  
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• US STOCKS SNAPSHOT-Wall St ends up, Nasdaq sets new record high

  16-07-2015 22:06
  NEW YORK, July 16 (Reuters) - Wall Street ended stronger on Thursday, with the Nasdaq up over 1 percent at a record high after eBay and Netflix reported strong quarterly results.
  
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• Foreigners buy long-term U.S. assets in May

  16-07-2015 22:05
  NEW YORK, July 16 (Reuters) - Foreigners bought long-term U.S. securities for a fourth consecutive month in May, data from the U.S. Treasury Department showed on Thursday.
  
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• FOREX-Dollar at seven-week high as Fed rate hike hopes grow

  16-07-2015 22:02
  * Investors shifting focus to relative yields (Recasts, adds late prices and quotes)
  
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• DIARY - Today in Washington - July 17

  16-07-2015 21:59
  0830/1230: The Commerce Dept. issues Housing Starts for June.
  
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• Early read of banks' living wills shows progress: Fed's Yellen

  16-07-2015 21:56 via news.yahoo.com
  
  Federal Reserve Chair Janet Yellen said on Thursday that a preliminary read of the living wills that large U.S. banks submitted this month showed progress. In response to a question about reducing the amount of systemically risky banks, Yellen told the Senate Banking Committee that the U.S. central bank is trying to put in place a set of incentives that will "reduce the systemic footprint and risk of (financial) firms." Yellen also said the Fed was on track to raise interest rates late
  
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• Weekly VIX options the newest way to trade volatility

  16-07-2015 21:55
  NEW YORK, July 16 (Reuters) - Traders will have a new way to trade short-term volatility next week, when CBOE Holdings Inc plans to launch weekly expirations for one of its most heavily traded index...
  
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• TECO Energy shares jump on report of possible sale

  16-07-2015 21:45
  NEW YORK, July 16 (Reuters) - TECO Energy shares jumped in afternoon trading on Thursday after a report said the S&P 500 component was putting itself up for sale.
  
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• Clinton: Would phase out fossil fuels extraction on public lands

  16-07-2015 21:19 via news.yahoo.com
  
  U.S. Democratic presidential candidate Hillary Clinton said on Thursday she would phase out extraction of fossil fuels on public lands if elected to the White House in 2016. Clinton said she would not stop the extraction right away, but would try to make the transition as quickly as possible. "We still have to run our economy, we still have to turn on the lights," Clinton told a town hall meeting in Dover, New Hampshire.
  
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• Clinton proposes tax breaks for corporate profit-sharing

  16-07-2015 21:03 via news.yahoo.com
  
  DOVER, N.H. (AP) — Democratic presidential candidate Hillary Rodham Clinton says high college loan interest rates are a drag on the U.S. economy. She's promising proposals that would allow students to refinance their loans.
  
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• Wall St rises as eBay, Netflix push Nasdaq toward record

  16-07-2015 20:52 via news.yahoo.com
  
  Wall Street rose on Thursday, with the Nasdaq up 1 percent near a record high after eBay and Netflix reported strong quarterly results. Dour quarterly reports from Goldman Sachs and UnitedHealth capped gains on the Dow. "It just proves the U.S. market continues to be resilient in the face of what seems like and endless list of global worries," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa.
  
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• Greek banks to remain closed through to Sunday

  16-07-2015 20:31 via news.yahoo.com
  
  ATHENS (Reuters) - Greece's banks will remain shut through to Sunday, its finance ministry said, amid signs that lenders could reopen their doors next week, three weeks after first closing. On Thursday, the European Central Bank said it would increase emergency funding to the banks, removing a barrier Greece's Economy Minister said earlier in the week was stopping lenders from reopening. Earlier, a senior banker told Reuters that Greek banks would reopen on Monday. Cash withdrawals, limited to 6
  
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• Iran should use nuclear deal to help economy, not for regional 'adventures': Saudi minister

  16-07-2015 20:25 via news.yahoo.com
  
  Iran should use a nuclear deal agreed this week with six world powers to improve its economy, and not to pursue "adventures" in the Middle East, Saudi Arabia's foreign minister said on Thursday. "We hope that ... if the deal is implemented that the Iranians will use this deal in order to improve the economic situation in Iran and to improve the lot of its people ... and not use it for adventures in the region," Foreign Minister Adel al-Jubeir said during a photo opportunity with U.S. Secretary
  
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• Hillary Clinton to propose rewarding firms for profit-sharing

  16-07-2015 20:16 via news.yahoo.com
  
  Democratic U.S. presidential candidate Hillary Clinton is set to announce during a New Hampshire campaign stop on Thursday a plan to give businesses two-year tax credits for sharing profits with workers, detailing the first component of her economic platform aimed at raising middle-class incomes, her campaign said.     Under Clinton's plan, firms would receive a two-year tax credit equal to 15 percent of the profits distributed to workers, capped at 10 percent on top of employees' w
  
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• Earnings overdrive, US companies putting up strong quarter

  16-07-2015 19:59 via news.yahoo.com
  
  NEW YORK (AP) — So far, second-quarter earnings have been like Christmas in July on Wall Street.
  
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• Fuller planes boost earnings for Norwegian Air

  16-07-2015 19:57 via news.yahoo.com
  
  Europe's third largest low-cost carrier, Norwegian Air Shuttle, on Thursday reported a rise in quarterly profits as it flew with fewer empty seats. "It has been a good quarter for Norwegian with positive growth throughout our route network, particularly on our long-haul network," chief executive Bjorn Kjos said in a statement. Net profit in the second quarter more than doubled from a year ago to 325 million kroner (36.7 million euros, $40 million) as the load factor, a measure of
  
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• Athens vote begins to help 'rebuild trust': Dijsselbloem

  16-07-2015 19:55 via news.yahoo.com
  
  Eurogroup chief Jeroen Dijsselbloem said Thursday tough reforms approved by the Greek parliament is "a start to rebuild trust" as he called for urgent foreign investment to help boost Greece's debt-ridden economy. The Eurogroup, led by Dijsselbloem, said the decision to move forward was "on the basis of a positive assessment" by the institutions that will govern Greece's bailout -- the European Commission, the European Central Bank and the International Monetary Fun
  
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• Wall Street gains as bellwethers post strong earnings reports

  16-07-2015 19:44 via news.yahoo.com
  
  Goldman fell 1.2 percent after posting its smallest quarterly profit in nearly four years, while UnitedHealth fell 0.5 percent after missing Wall Street's cost estimates. Netflix rose 16.9 percent to a record high of $114.72, a day after reporting strong subscribers numbers.
  
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• Fed's Williams vows more transparency after meeting with Fed Up

  16-07-2015 19:26 via news.yahoo.com
  
  San Francisco Fed President John Williams has promised more transparency after a rare meeting with a coalition of community and labor groups which also urged the U.S. central banker to keep interest rates low. Williams largely dismissed their call to hold off on interest-rate hikes, repeating his mantra that monetary policy will depend on economic data. "I want the Fed to be more transparent," Williams said in an interview.
  
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• Iran should use nuclear deal to improve its economy, not on 'adventures': Saudi foreign minister

  16-07-2015 19:18 via news.yahoo.com
  
  Iran should use a nuclear deal agreed this week with six world powers to improve its own economic situation, and not to pursue "adventures" in the Middle East, Saudi Arabia's foreign minister said on Thursday. "We hope that ... if the deal is implemented that the Iranians will use this deal in order to improve the economic situation in Iran and to improve the lot of its people ... and not use it for adventures in the region," Foreign Minister Adel al-Jubeir said during a photo opportunity with
  
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• Soccer-We'll have enough hotels, Russian World Cup organisers say

  16-07-2015 18:56 via news.yahoo.com
  
  Russia will have no problems providing accommodation for the 2018 World Cup despite moves to cut costs by reducing the number of hotels, the head of the organising committee said on Thursday. "The number of hotel rooms available will be sufficient to welcome our guests in a comfortable environment," Russia 2018 Chief Executive Alexey Sorokin wrote in emailed comments to Reuters. Planners initially promised to provide 100,000 rooms for the championship but have had to rein in spending as Russia's
  
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• Philip Morris expands e-cigarette deal with Altria

  16-07-2015 18:49
  
  LONDON (Reuters) - Philip Morris Internationaland its American counterpart Altria Groupannounced on Thursday an expansion of their agreement on e-cigarettes to include research and development,...
  
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• Greek banks to get brief reprieve before overhaul

  16-07-2015 18:39 via news.yahoo.com
  
  As part of a deal to secure new funding, Athens had to surrender much autonomy over its economy and this will include handing over more power to European institutions to decide the fate of its sick banks. Only Alpha Bank was given an entirely clean bill of health.
  
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• UK FTSE up but lags euro zone peers after Greek vote

  16-07-2015 18:25
  * U.S.-facing shares lead the board (Updates with closing prices)
  
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• Wall St. jumps on strong earnings report

  16-07-2015 18:20 via news.yahoo.com
  
  Netflix rose as much as 16.6 percent to a record high of $114.45, a day after the company added nearly a third more subscribers than expected in the second quarter. The stock propelled the Nasdaq 100 to a record high.
  
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