Finance news

• Caesars lawsuit vs second-lien noteholders dismissed by NY court

  20-07-2015 23:44
  July 20 (Reuters) - A lawsuit by casino company Caesars
  Entertainment Corp against a group of creditors known as
  the second-lien noteholders, who are owed billions of dollars,
  was dismissed by a New...
  
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• UPDATE 2-Chinese firm seeks to dismiss Baha Mar resort bankruptcy case

  20-07-2015 23:27
  WILMINGTON, Del., July 20 (Reuters) - The Chinese company
  building the $3.5 billion Baha Mar resort in the Bahamas on
  Monday filed a motion to dismiss the bankruptcy case related to
  the project,...
  
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• Investors rush to buy new UnitedHealth bonds

  20-07-2015 22:37
  NEW YORK (IFR) - UnitedHealth took center stage in the bond markets on Monday with a jumbo US$10.5 bn deal whose US$41bn order book underscored the bid for the health sector as well as liquid M&A...
  
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• Corzine must face MF Global customer class action -US judge

  20-07-2015 22:34
  NEW YORK, July 20 (Reuters) - MF Global Holdings Ltd
  commodities customers may pursue their lawsuit seeking hundreds
  of millions of dollars from former chief executive Jon Corzine
  and other officials...
  
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• U.S. fund industry weighs proposed Clinton tax increase

  20-07-2015 22:33
  
  NEW YORK (Reuters) - Fund companies and brokerage firms should be able to weather a proposal by Democratic U.S. presidential candidate Hillary Clinton that would increase capital gains taxes for some...
  
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• Wall Street ends flat as commodities weigh

  20-07-2015 22:29 via news.yahoo.com
  
  Wall Street finished little changed on Monday as a better-than-expected start to corporate earnings season boosted investor confidence, but gains were curbed by a drop in commodities. Shares of technology companies were among the bright spots, helping the tech-heavy Nasdaq Composite to its third straight record close as investor focus shifts to earnings from Greece and China. The top five boosts to the S&P 500 were from the tech sector.
  
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• Wall Street ends flat as commodity drop caps gains

  20-07-2015 22:24 via news.yahoo.com
  
  (Reuters) - Wall Street was little changed on Monday, as a better-than-expected start to corporate earnings season boosted investor confidence, but gains were curbed by a drop in commodities.
  
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• Oil dips on glut concerns as Iran exports loom

  20-07-2015 22:24 via news.yahoo.com
  
  Crude oil prices slipped lower on Monday as a UN Security Council vote highlighted the prospect of Iranian oil returning to the global market. West Texas Intermediate for delivery in August, the US benchmark, fell for the fourth straight session, dropping 74 cents to $50.15 a barrel on the New York Mercantile Exchange. According to the analyst, "with the dollar rising the market is still trying to price in the idea we could have additional supplies to oil come to the market" in the nea
  
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• US stocks notch modest gains on solid earnings reports

  20-07-2015 22:13 via news.yahoo.com
  
  U.S. stocks are closing with modest gains after several companies reported solid earnings.
  
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• Obama picks University of Michigan economist Dominguez for Fed post

  20-07-2015 22:11 via news.yahoo.com
  
  President Barack Obama has chosen Kathryn Dominguez, an economist at the University of Michigan, to join the Federal Reserve Board of Governors, the White House said on Monday. "Dr. Dominguez has the proven experience, judgment, and deep knowledge of the financial system, monetary policy, and international capital markets to serve at the Federal Reserve during this important time for our economy," Obama said in a statement.
  
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• Wall St. ends flat as commodity drop caps gains

  20-07-2015 22:10 via news.yahoo.com
  
  (Reuters) - Wall Street was little changed on Monday, as a better-than-expected start to corporate earnings season boosted investor confidence, but gains were curbed by a drop in commodities. The Dow Jones industrial average rose 13.36 points, or 0.07 percent, to 18,099.81, the S&P 500 gained 1.59 points, or 0.07 percent, to 2,128.23 and the Nasdaq Composite added 8.72 points, or 0.17 percent, to 5,218.86. (Reporting By Sinead Carew; Editing by Nick Zieminski)
  
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• Canada's New Democrats seek new budget outlook due to low growth

  20-07-2015 21:06 via news.yahoo.com
  
  By Randall Palmer OTTAWA (Reuters) - Canada's opposition New Democratic Party (NDP) asked the country's Parliamentary Budget Officer on Monday to update federal budget figures in light of a sharply weaker economic forecast from the Bank of Canada. Canada's Conservative government, which is facing an election in October, has pledged to balance the books this year for the first time in almost a decade. The Parliamentary Budget Officer, Jean-Denis Frechette, has a mandate to provide independent ana
  
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• Wall Street advances on earnings momentum

  20-07-2015 21:05 via news.yahoo.com
  
  The tech-heavy Nasdaq composite also continued its recent momentum, adding to its gains from last week and touching a record for the third straight day, as investor focus shifts to earnings from concerns surrounding Greece and China.
  
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• Slovenia, Croatia extend atomic plant's lifespan by 20 years

  20-07-2015 20:44 via news.yahoo.com
  
  Slovenia and Croatia agreed on Monday to extend the lifespan of a jointly-owned nuclear plant until 2043, overriding calls from green groups to close the facility. "We decided to extend Krsko nuclear plant's lifespan because it has good operational security, economic and investment results," Slovenia's infrastructure minister Peter Gaspersic said after meeting his Croatian counterpart Ivan Vrdoljak in Krsko, Slovenian state radio reported. The two ministers headed Monday'
  
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• New Fed rule tells 8 biggest U.S. banks to bump up capital

  20-07-2015 20:44 via news.yahoo.com
  
  The Federal Reserve on Monday adopted a rule for the eight largest U.S. banks to hold more equity capital, amid fears on Wall Street that the measure may make it less profitable. The rule was largely similar to when it was proposed in December, when the U.S. central bank and bank regulator said the firms would face a surcharge of between 1 percent and 4.5 percent of their assets. The Fed also gave numerical estimates of what the rule would mean for each of the banks.
  
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• S&P cuts eBay rating after PayPal spin-off

  20-07-2015 20:11 via news.yahoo.com
  
  Standard & Poor's said on Monday it had lowered its credit rating on internet giant eBay Inc. by two notches to 'BBB+' from 'A' following its split from PayPal. "The lower ratings reflect our downward revision of eBay's business risk profile as a result of the spin-off of PayPal, which accounts for about half of eBay's total revenues," S&P said. The rating agency expects leverage to rise on the back of shareholder return activities and acquisi
  
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• Chinese firm seeks to dismiss bankruptcy case of Baha Mar resort

  20-07-2015 20:09
  July 20 (Reuters) - The Chinese construction company
  building the $3.5 billion Baha Mar resort in the Bahamas plans
  to file a motion to dismiss the bankruptcy case related to the
  unfinished project.
  
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• Russia's Prosperity says raises stake in Enel Russia to around 10 percent

  20-07-2015 19:45
  MOSCOW (Reuters) - Russia's Prosperity Capital Management has bought a 5.2 percent stake in Enel Russiafrom the European Bank for Reconstruction and Development (EBRD) [EBRD.UL], increasing its...
  
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• EU regulators to probe U.S. drinks can maker Ball's bid for Rexam

  20-07-2015 19:39
  BRUSSELS (Reuters) - European Union antitrust regulators have opened an in-depth investigation into whether U.S. drinks can maker Ball Corp's 4.4 billion pound ($7 billion) offer for Britain's Rexam...
  
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• Morgan Stanley 2Q profit tops estimates, helped by trading

  20-07-2015 19:38 via news.yahoo.com
  
  NEW YORK (AP) — Morgan Stanley's second-quarter results topped Wall Street's expectations Monday, as the investment bank's trading and wealth management businesses helped lift revenue.
  
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• ProSiebenSat.1 in talks to buy Scout24 stake - Handelsblatt

  20-07-2015 19:36 via news.yahoo.com
  
  German TV broadcaster ProSiebenSat.1 is in talks to buy a stake in advertising group Scout24 from U.S. private equity firm Hellman & Friedman, Handelsblatt reported on Monday, citing unidentified sources in the banking industry. The German business newspaper said ProSieben had two options -- one to take a majority stake in Scout24, and another to acquire a minority stake combined with a guarantee by Scout24 to seek a stock market listing in October. Scout24 is planning an initial public offering
  
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• IMF names White House official as chief economist

  20-07-2015 19:28 via news.yahoo.com
  
  The International Monetary Fund named Maurice Obstfeld, one of US President Barack Obama's top economic advisers, as its new chief economist on Monday. Obstfeld, a professor at the University of California, Berkeley, will replace outgoing IMF economist Olivier Blanchard. "His outstanding academic credentials and extensive international experience make him exceptionally well-placed to provide intellectual leadership to the IMF at this important juncture," said the Fund's manag
  
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• Wall Street higher as earnings boost confidence

  20-07-2015 19:28 via news.yahoo.com
  
  Wall Street was higher in early afternoon trading on Monday as better-than-expected earnings from big companies overshadowed a fall in commodities. Shortly after trading began, the tech-heavy Nasdaq composite added to its gains from last week and touched a record for the third straight day as investors shift their focus to earnings from concerns surrounding Greece and China. "The commodity markets are lower which are a concern because if those prices fall then economic growth isn't as
  
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• Exclusive: Micron does not believe deal with Tsinghua is possible

  20-07-2015 19:19
  
  (Reuters) - Micron Technology Inc has told China's Tsinghua Unigroup Ltd [TSHUAA.UL] that its $23 billion acquisition offer is not realistic because U.S. authorities would block the deal due to...
  
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• Orange in talks to buy four African businesses from Bharti Airtel

  20-07-2015 19:13
  
  PARIS (Reuters) - French telecoms group Orange said on Monday it had entered an exclusive agreement with Bharti Airtelabout buying the Indian group's subsidiaries in four African countries.
  
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• Wall St higher as earnings boost confidence

  20-07-2015 19:09 via news.yahoo.com
  
  Shortly after trading began, the tech-heavy Nasdaq composite added to its gains from last week and touched a record for the third straight day as investors shift their focus to earnings from concerns surrounding Greece and China. On Friday, strong earnings from Google pushed the tech-heavy Nasdaq to a record close, which gained 4.3 percent for the week, its largest weekly gain since October while the S&P 500 stopped just short of its record high. Tech earnings will continue to be in focus th
  
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• Gold's tumble poses problems for debt-laden Barrick

  20-07-2015 18:59
  TORONTO, July 20 (Reuters) - The plunging gold price poses more challenges for Barrick Gold, the world's largest gold producer, which is already shopping its assets and raising money to try to trim...
  
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• US sets capital surcharges for largest 8 banks

  20-07-2015 18:58 via news.yahoo.com
  
  Washington (AFP) - The US Federal Reserve set Monday tough new capital surcharges for the country's eight largest banks in a new post-economic crisis effort to reel in "too-big-to-fail" institutions.
  
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• U.N. Council backs Iran nuclear deal but Tehran hardliners object

  20-07-2015 18:55 via news.yahoo.com
  
  By Michelle Nichols and Bozorgmehr Sharafedin Nouri UNITED NATIONS/DUBAI, (Reuters) - The U.N. Security Council on Monday backed Iran's nuclear agreement with world powers but the Islamic Republic's Revolutionary Guards attacked the resolution, underlining powerful opposition to the deal. U.S. President Barack Obama hailed the United Nations endorsement, saying it showed last week's accord commanded broad international support as the best way of ensuring Iran never gets nuclear we
  
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• Fed to adopt new capital surcharges for eight largest U.S. banks

  20-07-2015 18:48 via news.yahoo.com
  
  By Douwe Miedema and Michael Flaherty WASHINGTON (Reuters) - The Federal Reserve will meet on Monday to adopt a new rule for the eight largest U.S. banks to hold more equity capital, amid fears on Wall Street that the measure may make it less profitable. The rule was largely similar to when it was proposed in December, when the U.S. central bank said the banks would face a surcharge of between 1 percent and 4.5 percent of their assets. The Fed also gave numerical estimates of what the rule would
  
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• Sell-off in gold miners wipes $8 bln off their market value

  20-07-2015 18:42
  LONDON, July 20 (Reuters) - A steep sell-off in shares of gold miners, tracking a plunge in the metal's price, wiped out more than $8 billion from their combined market value on Monday and pushed a...
  
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• SunEdison buys Vivint for $2.2 billion to expand residential business

  20-07-2015 18:40
  
  (Reuters) - SunEdison Incagreed to buy Vivint Solar Inc , the second-biggest U.S. solar panel installer, in a deal valued at about $2.2 billion, speeding up its expansion in the booming residential...
  
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• Lockheed to buy Sikorsky for $9 billion; reviews options for IT business

  20-07-2015 18:37
  
  WASHINGTON (Reuters) - Lockheed Martin Corpsaid Monday it would buy Sikorsky Aircraft, the helicopter unit of United Technologies Corp , for $9 billion, and would review the possible sale or...
  
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• Crash curbs early European appetite for China's 'A-Shares'

  20-07-2015 18:35 via news.yahoo.com
  
  * Quotas giving direct access to mainland stocks underused * London market uptake slow, caution to remain By Simon Jessop and Nishant Kumar LONDON, July 20 (Reuters) - Tumbling share prices and trading suspensions have tempered any early enthusiasm for mainland Chinese equities among overseas funds, confirming the cautious approach evident in their limited exposure despite official attempts to lure them in. Three government programmes designed to help overseas investors buy Chinese stocks have h
  
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• Pearson exploring sale of Financial Times: Bloomberg

  20-07-2015 18:30
  
  LONDON (Reuters) - British publisher Pearsonis exploring the sale of itsFinancial Times newspaper after receiving interest from potential buyers, Bloomberg reported on Monday, citing people...
  
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• ProSiebenSat.1 in talks with Hellman & Friedman on Scout24 stake: Handelsblatt

  20-07-2015 18:22 via news.yahoo.com
  
  German TV broadcaster ProSiebenSat.1 is in talks to buy a stake in advertising group Scout24 from U.S. private equity firm Hellman & Friedman, Handelsblatt reported on Monday, citing unnamed sources in the banking industry. The German business newspaper said ProSiebenSat.1 had two options - one to take a majority stake in Scout24, and another to acquire a minority stake combined with a guarantee by Scout24 to seek a stock-market listing in October. Scout24 is planning a listing this year, Handel
  
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• Clinton to propose increasing capital gains taxes

  20-07-2015 18:18 via news.yahoo.com
  
  WASHINGTON (AP) — Hillary Rodham Clinton plans later this week to propose raising capital gains taxes for some investors. It's part of her effort to encourage greater focus on longer-term economic growth.
  
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• South African shares rise despite gold price slump

  20-07-2015 18:13
  JOHANNESBURG, July 20 (Reuters) - South African shares rose on Monday as gains in industrial and financial stocks outweighed heavy losses among gold and platinum producers.
  
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• Exor sweetens PartnerRe offer again

  20-07-2015 18:11
  MILAN (Reuters) - Italian holding company Exorhas again sweetened its offer for U.S.-listed reinsurer PartnerReto include a special dividend of $3 per share for common shareholders if it is...
  
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• FTSE edges higher with help from HSBC and Sports Direct

  20-07-2015 18:08
  * Aveva surges as Schneider buys in reverse takeover (Updates closing prices)
  
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• UPDATE 2-PayPal returns to market with $52 bln valuation

  20-07-2015 17:58
  July 20 (Reuters) - PayPal Holdings Inc shares jumped as much as 11 percent in their highly anticipated return to the Nasdaq after more than a decade in eBay Inc's fold, valuing the digital payment...
  
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• Spain's Socialists up election ante with family support scheme

  20-07-2015 17:42 via news.yahoo.com
  
  Spain's opposition Socialist party on Monday pledged nearly 6.5 billion euros annually ($7 billion) for vulnerable families if it wins a national election later this year in which economic factors will play a major role. Spain has emerged from a double-dip recession as one of the fastest-growing economies in the euro zone, but six years of downturn deepened social inequalities have left many citizens failing to benefit from the recovery and scarred by unemployment. The Socialist party (PSOE), wh
  
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• Greece reopens banks, starts repaying some debts

  20-07-2015 17:40 via news.yahoo.com
  
  Athens initiated payment 4.2 billion euros in principal and interest to the European Central Bank due on Monday after European authorities agreed last week to provide emergency funding assistance, It is also paid 2.05 billion euros to the International Monetary Fund in arrears since June 30, when Greece became the first advanced economy to default on a loan to the IMF, along with 500 million euros owed to the Bank of Greece. Although the Greek parliament approved the bailout package on Thursday,
  
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• Cuba seeks end to U.S. embargo, return of Guantanamo

  20-07-2015 17:35 via news.yahoo.com
  
  Cuban Foreign Minister Bruno Rodriguez said on Monday the historic restoration of U.S.-Cuba relations will only make sense if the United States lifts its comprehensive trade embargo and returns to Cuba the U.S. naval base at Guantanamo Bay in eastern Cuba. "The historic events we are living today will only make sense with the removal of the economic, commercial and financial blockade, which causes so much deprivation and damage to our people, the return of occupied territory in Guantanamo, and r
  
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• Wall St edges higher as earnings boost confidence

  20-07-2015 17:21 via news.yahoo.com
  
  Shortly after trading began, the tech-heavy Nasdaq composite added to its gains from last week and touched a record for the third straight day as investors shift their focus to earnings from concerns surrounding Greece and China. On Friday, strong earnings from Google pushed the tech-heavy Nasdaq to a record close, which gained 4.3 percent for the week, its largest weekly gain since October while the S&P 500 stopped just short of its record high.
  
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• Broker's entanglement in estate spotlights abusive practice

  20-07-2015 17:04
  (Reuters) - An Arizona broker who tried to inherit $1.8 million from a client with Alzheimer’s disease has been barred from the securities industry in a case that highlights an ugly practice against...
  
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• US open: Dow and S&P open flat despite optimism over Greece and solid earnings

  20-07-2015 17:00 via news.yahoo.com
  
  (ShareCast News) - US equities struggled for direction early on Monday, despite optimism over Greece's crisis and strong earnings reports.
  
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• Clinton's capital gains tax plan to urge focus on long-term growth

  20-07-2015 16:50 via news.yahoo.com
  
  Presidential contender Hillary Clinton's proposed plan to overhaul capital gains taxes aims to foster long-term growth by taxing some short-term investments at higher rates, an aide for her campaign said on Monday. Under her proposal, first reported by the Wall Street Journal, the maximum capital gains tax rate on investments held at least a year, currently 23.8 percent, would rise to at least the 28 percent proposed by President Barack Obama, the aide said. The campaign has not ruled out r
  
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• Five retirement savings tips for Millennials

  20-07-2015 16:28
  
  NEW YORK (Reuters) - A couple of years ago, Emilie Hunt had to go to the emergency room with a stomach virus. The bill took a huge chunk of money out of her savings, more than $800, and kept her from...
  
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• U.S. parents spend more, worry less about college

  20-07-2015 16:26
  
  LOS ANGELES (Reuters) - A new study by student lender Sallie Mae found the average amount spent on college education in the United States jumped for the first time in five years, thanks to greater...
  
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