Finance news

• BofA CFO's exit tied to desire for top job: sources

  23-07-2015 23:37
  
  NEW YORK (Reuters) - The surprise departure of Bruce Thompson as finance chief of Bank of America Corp reflected his desire to lead a company, an outcome that seemed unlikely to happen soon if he...
  
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• GLOBAL MARKETS-Wall St drops for third day, dollar cuts losses

  23-07-2015 23:24 via news.yahoo.com
  
  Wall Street stocks dropped for a third day on Thursday, sagging under weak corporate profit reports that left the Dow Jones industrials index in the red for 2015, while strong U.S. labor market data supported ...
  
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• Visa 3Q earnings jump 25 percent, beat estimates

  23-07-2015 23:23 via news.yahoo.com
  
  NEW YORK (AP) — Visa Inc. said its fiscal third-quarter profit jumped 25 percent, helped by a double-digit rise in payments processed on its network.
  
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• China slowdown? Depends on where you look

  23-07-2015 23:00 via news.yahoo.com
  
  By Chuck Mikolajczak and Lewis Krauskopf NEW YORK (Reuters) - Many U.S. consumer companies are brushing aside worries that China's weakening economy and sputtering stock market will dramatically damage their bottom lines even with early trouble signs in recent earnings reports. Most notably, companies dependent on Chinese infrastructure growth, such as United Technologies Corp and Caterpillar Inc , are claiming soft second-quarter earnings and a downgraded outlook based on weakened Chinese
  
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• Wall Street falls for third day as earnings fall short

  23-07-2015 22:55 via news.yahoo.com
  
  The Dow Jones industrial average fell back into the red for the year, with 3M , American Express and Caterpillar contributing the most to the average's fall. "The initial take on big earnings reports has been lukewarm at best," said Bruce Zaro, chief technical strategist at Bolton Global Asset Management in Boston. "The strong dollar certainly has been mentioned a lot, and I think there are still questions about demand in the economy and what would translate into revenue grow
  
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• US STOCKS-Wall St falls for 3rd day as earnings fall short

  23-07-2015 22:52 via news.yahoo.com
  
  The Dow Jones industrial average fell back into the red for the year, with 3M, American Express and Caterpillar contributing the most to the average's fall. Union Pacific, down 5.7 percent at $92.12 after posting a lower quarterly profit, led the decline in transportation shares and was among the S&P 500's biggest drags.
  
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• GM earnings more than double on U.S. truck demand; shares jump

  23-07-2015 22:40 via news.yahoo.com
  
  By Joseph White and Bernie Woodall DETROIT (Reuters) - General Motors Co shares rose about 4 percent on Thursday after the automaker reported adjusted net income that more than doubled in the second quarter, driven by North American truck sales and continued strength in China. Chief Financial Officer Chuck Stevens Thursday reaffirmed the company's forecast that operating profit for the full year would improve from last year's $9.3 billion. GM shares rose 3.96 percent to close at $31.50
  
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• Visa fiscal 3Q earnings jump 25 percent

  23-07-2015 22:36 via news.yahoo.com
  
  NEW YORK (AP) — Visa Inc. says its fiscal third-quarter profit jumped 25 percent, helped by a double-digit rise in payments processed on its network.
  
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• Oil prices slide on concerns about ample supplies

  23-07-2015 22:20 via news.yahoo.com
  
  Oil prices slid Thursday on persistent concerns about abundant supplies in a slowing global economy. US benchmark West Texas Intermediate (WTI) for September fell 74 cents to $48.45 a barrel, finishing below the $49 level for the first time since March 31. Brent North Sea crude for delivery in September, the global benchmark, dropped to $55.27 a barrel in London trade, down 86 cents from Wednesday's settlement.
  
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• Syngenta spars with suitor Monsanto over takeover

  23-07-2015 22:20
  
  ZURICH (Reuters) - Syngentaand unwanted U.S. suitor Monsantosquabbled over an earnings report from the Swiss pesticides maker on Thursday, with both sides claiming it strengthened their case in a...
  
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• Stocks fall for 3rd straight day as earnings disappoint

  23-07-2015 22:11 via news.yahoo.com
  
  U.S. stocks are closing lower for a third straight day as a number of big companies report disappointing financial results.
  
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• Qualcomm's potential break-up could lead to courtship with Intel

  23-07-2015 22:10 via news.yahoo.com
  
  Wall Street says Intel Corp is the best suitor for Qualcomm Inc's chip unit, if the maker of Snapdragon mobile processors decides to break itself up. "The chip deal to end all chip deals," says Cowen and Co analyst Timothy Arcuri, would give Intel's smartphone chip making business a much-needed boost. It would also allow Intel to expand its footprint in the key Chinese market.
  
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• Wall Street falls as 3M, Caterpillar weigh

  23-07-2015 22:04 via news.yahoo.com
  
  NEW YORK (Reuters) - Wall Street fell for the third straight day on Thursday after disappointing results and forecasts from companies including 3M and Caterpillar added to concerns about the U.S. profit outlook.
  
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• Developer willing to spend $200 million to finish Bahamas resort

  23-07-2015 21:58
  
  (Reuters) - The developer of the $3.5 billion Baha Mar mega-resort is willing to commit up to $200 million to jumpstart the stalled Bahamas project, lawyers told a U.S. bankruptcy judge on Thursday.
  
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• Foreign firms say more than just sanctions hold back trade with Iran

  23-07-2015 21:37 via news.yahoo.com
  
  By Shadia Nasralla and Maria Sheahan VIENNA (Reuters) - Western firms are itching to return to Iran if sanctions are lifted, but to truly fulfill its potential Tehran should do more to make its business practices efficient and its environment welcoming, executives said at a trade conference. At the conference in Vienna, Iranian officials touted their country - with a population of just under 80 million and annual output of some $400 billion - as a potential bonanza for investors in oil and gas,
  
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• RPT-Developer willing to spend $200 mln to finish Bahamas resort

  23-07-2015 21:22
  July 23 (Reuters) - The developer of the $3.5 billion Baha
  Mar mega-resort is willing to commit up to $200 million to
  jumpstart the stalled Bahamas project, lawyers told a U.S.
  bankruptcy judge on...
  
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• Wall Street falls for third day as earnings disappoint

  23-07-2015 21:20 via news.yahoo.com
  
  The manufacturing companies' declines helped push the Dow Jones industrial average back into the red for the year. Also hurting the Dow was American Express , down 2.6 percent at $76.95 after revenue missed expectations. Caterpillar shares fell 3.7 percent to $76.88 and hit a four-year low of $76.65.
  
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• Developer willing to spend $200 mln to finish Bahamas resort

  23-07-2015 21:20
  July 23 (Reuters) - The developer of the $3.5 billion Baha
  Mar mega-resort is willing to commit up to $200 million to
  jumpstart the stalled Bahamas project, lawyers told a U.S.
  bankruptcy judge on...
  
  Read more

• EU clears Berkshire Hathaway's purchase of Duracell

  23-07-2015 21:00
  BRUSSELS (Reuters) - The European Commission said on Thursday it had approved Berkshire Hathaway'spurchase of Procter & Gamble'sDuracell battery unit.
  
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• Mexican government says poverty rate rose to 46.2 percent in 2014

  23-07-2015 20:42 via news.yahoo.com
  
  Two million more Mexicans fell into poverty between 2012 and 2014, government data showed on Thursday, highlighting the challenges President Enrique Pena Nieto faces in meeting pledges to lift millions out of need. The poverty rate increased by 0.7 percentage point to 46.2 percent last year from 45.5 percent in 2012, equivalent to 55.3 million people in the nation of nearly 120 million, said government social development agency Coneval. The poverty level is roughly in line with that in 2010, sug
  
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• Wall Street drops for third day, dollar cuts losses

  23-07-2015 20:40 via news.yahoo.com
  
  Oil prices declined, with U.S. crude dropping below $49 per barrel for the first time since April, as gold got a lift from the softer dollar and briefly traded above $1,100 an ounce. Caterpillar shares fell as much as 3.8 percent to a four-year low of $76.85 after the world's largest construction and mining equipment maker reported sales declines in key markets in a sluggish global economy. "Companies such as Caterpillar are a litmus test for the global economy, especially when the mar
  
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• Japan's Nikkei buys Financial Times in 838.4 million-pound deal

  23-07-2015 20:19 via news.yahoo.com
  
  By Kate Holton LONDON (Reuters) - Japanese media group Nikkei has agreed to buy the Financial Times from Britain's Pearson for $1.3 billion (838.4 million pounds), putting one of the world's premier business newspapers in the hands of a company influential at home but little known outside Japan. The deal, struck after Nikkei beat Germany's Axel Springer to the prize, marks the biggest acquisition by a Japanese media organisation and is a coup for the employee-owned firm which lend
  
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• Stocks head for a 3rd straight loss as earnings disappoint

  23-07-2015 20:17 via news.yahoo.com
  
  Major stock indexes moved lower in afternoon trading Thursday, on course for their third down day in a row. Disappointing earnings and outlooks from several big companies, including American Express, Caterpillar and 3M weighed on the market. Utilities were among the biggest decliners.
  
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• Senator Rubio: Iran deal could 'go away' with Obama

  23-07-2015 19:55 via news.yahoo.com
  
  Republican presidential candidate Senator Marco Rubio on Thursday warned that President Barack Obama's successor could scrap the Iran nuclear deal even if it is approved by Congress. Rubio was among the unsparing critics of the July 14 agreement at a Senate Foreign Relations Committee hearing where Secretary of State John Kerry, Energy Secretary Ernest Moniz and Treasury Secretary Jack Lew defended it. The deal, which followed two years of negotiations, is aimed at curbing Iran's ability to obta
  
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• Friday preview: Pearson expected to report flat first half earnings after selling FT

  23-07-2015 19:45 via news.yahoo.com
  
  (ShareCast News) - Pearson on Friday reports its first quarter interims after confirming it has sold the Financial Times Group to Nikkei for £844m.
  
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• Rheinmetall, Thales interested in Airbus sensor business

  23-07-2015 19:32
  
  FRANKFURT (Reuters) - German defense group Rheinmetalland French peer Thalesare among several groups interested in a defense electronics business that plane maker Airbusis selling in an effort...
  
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• UPDATE 1-Offshore driller Hercules says weeks from bankruptcy

  23-07-2015 19:23
  July 23 (Reuters) - Hercules Offshore Inc, stung by
  slumping demand for drilling services in older Gulf of Mexico
  oilfields, said on Thursday it plans to file for creditor
  protection in about three...
  
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• McDonald’s McTricks Aren’t Working

  23-07-2015 19:20 via news.yahoo.com
  
  The results were good enough to top Wall Street’s expectations, but they showed again just how far McDonald’s has to go to win back customers. The fast food chain blamed the admittedly “disappointing” results on the failure of its products and promotions to draw customers to its stores as anticipated. New CEO Steve Easterbrook, who took over in March, has promised to revamp the restaurant chain and improve sales by catering to consumers who prefer fresh, high quality food.
  
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• European stocks mixed amid caution over Greece debt deal

  23-07-2015 19:17 via news.yahoo.com
  
  Europe's main stock markets closed mixed on Thursday in subdued deals, unable to rebound after two days of losses, as caution prevailed over Greece's debt crisis. Around mid-day in New York trading, the Dow Jones Industrial Average dropped 0.55 percent to 17,752.19 points .
  
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• Student aid website operator to pay $5.2 million over billing scheme: U.S. regulator

  23-07-2015 19:13
  WASHINGTON (Reuters) - The U.S. Consumer Financial Protection Bureau on Thursday said it fined Student Financial Aid Services Inc $5.2 million for illegal billing practices, including imposing...
  
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• Wall Street slumps for third day as earnings disappoint

  23-07-2015 18:51 via news.yahoo.com
  
  The two stocks, together with American Express , contributed 68 points to the Dow's fall. Caterpillar shares fell as much as 3.8 percent to a four-year low of $76.75 after the world's largest construction and mining equipment maker reported sales decline in key markets in a sluggish global economy. American Express fell 3.2 percent to $76.40 as revenue missed expectations while 3M was down 3.4 percent at $150.09 after the diversified manufacturer cut its full-year forecasts.
  
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• US STOCKS-Wall Street slumps for third day as earnings disappoint

  23-07-2015 18:50
  * Indexes down: Dow 0.52 pct, S&P 0.45 pct, Nasdaq 0.25 pct (Updates to early afternoon)
  
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• INSIGHT-"Grexit" struggle tests Germany's power duo

  23-07-2015 18:46
  BERLIN, July 23 (Reuters) - On July 17th, her 61st birthday, Angela Merkel stepped to the podium in the Bundestag and urged German lawmakers to approve a new round of bailout negotiations with...
  
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• Husqvarna recalls lawn and garden tillers in U.S.

  23-07-2015 18:45
  WASHINGTON, July 23 (Reuters) - Husqvarna Consumer Outdoor Products NA Inc is recalling about 24,000 lawn and garden tillers because they can unintentionally move forward or backwards, the U.S....
  
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• European shares set one-week low, Aberdeen AM leads

  23-07-2015 18:43
  LONDON, July 23 (Reuters) - European equities slipped to a one-week low on Thursday, with disappointing updates from companies including Aberdeen Asset Management and British energy supplier SSE...
  
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• Raymond James' broker wave leads to 'very solid' quarter

  23-07-2015 18:43
  NEW YORK, July 23 (Reuters) - Raymond James Financial recruited a record number of brokers last quarter, a personnel tsunami that raised expenses but led to a "very solid quarter," Chief Executive...
  
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• RPT-UPDATE 2-McDonald's expects same-restaurant sales to improve in quarter

  23-07-2015 18:42
  July 23 (Reuters) - McDonald's Corp's new chief executive expects global sales at established restaurants to grow in the current quarter, reversing more than a year of declines, and said his...
  
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• Ford, UAW, formally begin labor talks; jobs to Mexico at issue

  23-07-2015 18:39
  DETROIT, July 23 (Reuters) - Leaders of the United Auto Workers union and Ford Motor Co started talks on a new labor contract on Thursday, with the specter of jobs fleeing to Mexico hanging over the...
  
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• UPDATE 7-Japan's Nikkei buys Financial Times in $1.3 bln deal

  23-07-2015 18:36
  LONDON, July 23 (Reuters) - Japanese media group Nikkei agreed on Thursday to buy the Financial Times from Britain's Pearson in a $1.3 billion deal that brings together two leading financial news...
  
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• UPDATE 2-GM earnings more than doubles on U.S. truck demand; shares jump

  23-07-2015 18:34
  DETROIT, July 23 (Reuters) - General Motors Co shares surged in premarket trading Thursday after the automaker reported adjusted net income that more than doubled in the second quarter, driven by...
  
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• BRIEF-Pearson CEO says began internal talks on FT sale a year ago

  23-07-2015 18:33
  * Ceo says price of 844 million stg reflects quality of ft and is a good return for shareholders
  
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• UPDATE 3-Luxury sportscar maker Ferrari files for New York listing

  23-07-2015 18:32
  * To sell 10 pct of Ferrari to fund FCA's ambitious growth plan
  
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• Brazilian ratings firm strips Brazil of investment grade

  23-07-2015 18:28
  SAO PAULO, July 23 (Reuters) - A local ratings firm stripped Brazil of its investment grade on Thursday, saying President Dilma Rousseff's new budget savings goals are insufficient to stabilize the...
  
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• UPDATE 2-Mylan foundation tries to block Teva takeover bid with poison pill

  23-07-2015 18:26
  * Teva says has power to challenge action in court (Adds Teva comment on legal possibilities, analyst comment, shares)
  
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• Government contractor PAE seeks sale or IPO -sources

  23-07-2015 18:25
  July 23 (Reuters) - Private equity firm Lindsay Goldberg & Co LLC is exploring a sale or initial public offering of government services provider PAE, which could value it at up to $1 billion,...
  
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• Spain's Hispania says drops bid for Realia

  23-07-2015 18:22
  MADRID, July 23 (Reuters) - Spanish property investor Hispania said on Thursday it had withdrawn a bid for real estate company Realia in view of a competing offer launched in June by Inmobilaria...
  
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• US stocks move mostly lower on earnings

  23-07-2015 18:21 via news.yahoo.com
  
  U.S. stocks veered lower in midday trading Thursday, weighed down by disappointing earnings and outlooks from big several companies, including American Express, Caterpillar and 3M. Utilities were among the biggest decliners. The slide has the stock market on course for its third down day in a row.
  
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• Anthem set to announce deal for Cigna this week: sources

  23-07-2015 18:21
  
  (Reuters) - U.S. health insurer Anthem Inc is close to finalizing negotiations to acquire peer Cigna Inc and could announce a roughly $48 billion deal as early as this week, two people familiar with...
  
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• Two more Swiss banks strike deals with U.S over tax evasion

  23-07-2015 18:20
  WASHINGTON, July 23 (Reuters) - Two more Swiss banks will pay penalties to the United States as part of settlements that mean they will not face criminal charges for helping Americans avoid taxes,...
  
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• Southern euro zone yields fall after Greece passes second set of reforms

  23-07-2015 18:19
  LONDON, July 23 (Reuters) - Italian, Spanish and Portuguese bond yields dipped on Thursday after the Greek parliament approved a second package of reforms required to start talks on a financial...
  
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