Finance news

• P&G says David Taylor to replace A.G. Lafley as CEO

  28-07-2015 23:52
  
  (Reuters) - Procter & Gamble Co veteran David Taylor will replace A.G. Lafley as chief executive in a widely expected move that coincides with a massive overhaul at the world's largest household...
  
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• Oil steadies after four-day loss; U.S. inventory draw eyed

  28-07-2015 23:35 via news.yahoo.com
  
  By Barani Krishnan NEW YORK (Reuters) - Oil prices steadied on Tuesday, with Brent recovering from near six-month lows and U.S. crude settling more than 1 percent higher as bets for a drop in U.S. stockpiles offset concern over a global oil supply glut and China's stock market meltdown. Trades also cited short-covering after a four-day selloff that wiped between 6 and 7 percent from crude futures prices. Some stayed convinced, however, that oil has more to lose, and that a bottom for crude
  
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• Wall Street watchdog bars former Merrill Lynch broker Tom Buck

  28-07-2015 23:35
  
  NEW YORK (Reuters) - Tom Buck, the former top Indiana securities broker who was fired by Bank of America Merrill Lynch in March, has been permanently barred from the securities industry by the...
  
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• Stocks end skid on strong earnings, more stability in China

  28-07-2015 23:21 via news.yahoo.com
  
  NEW YORK (AP) — Global stocks steadied and U.S. markets marched higher Tuesday, as investors were encouraged by strong results from UPS, Ford and other big companies.
  
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• Wall Street not giving up on U.S. social impact bonds

  28-07-2015 23:19 via news.yahoo.com
  
  Social-impact bonds allow private capital to be funneled into philanthropic projects usually funded by governments and charities. Goldman Sachs helped to fund the first such program in the United States three years ago, a $9.6 million plan to reduce recidivism among teenagers at New York's Rikers Island jail. Goldman lost $1.2 million and Bloomberg Philanthropies - a partner in the project - lost $6 million, which would have been recouped had the program met its goals.
  
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• Exclusive: Education company Blackboard seeks $3 billion sale - sources

  28-07-2015 23:08
  (Reuters) - Blackboard Inc, a U.S. software company that provides learning tools for high school and university classrooms, is exploring a sale that it hopes could value it at as much as $3 billion,...
  
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• IAC's profit beats estimates on strong dating business growth

  28-07-2015 23:07
  
  (Reuters) - Media mogul Barry Diller's IAC/InterActiveCorp reported a better-than-expected quarterly profit as more users signed up for its dating services and the paid version of its mobile app...
  
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• Twitter surprises Wall Street, beats investor expectations

  28-07-2015 23:05 via news.yahoo.com
  
  Social networking site's earnings exceeds investors' expectations as it continues to search for a new CEO.
  
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• Obama administration urges Congress to help Puerto Rico

  28-07-2015 23:00
  WASHINGTON, July 28 (Reuters) - The Obama administration
  urged the U.S. Congress on Tuesday to pass legislation that
  would give Puerto Rico's government access to bankruptcy courts
  so it can...
  
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• Twitter revenue, adjusted profit beat estimates; shares rise

  28-07-2015 22:55 via news.yahoo.com
  
  (Reuters) - Twitter Inc raised the bottom end of its full-year revenue forecast as the company's push to boost advertising income paid off and it reported adjusted profit and revenue above Wall Street estimates. Twitter's shares rose 4 percent in extended trading on Tuesday. Analysts have said Twitter makes money from its users at a much lower rate than Facebook Inc but has been improving.
  
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• Omega's Cooperman says would not buy energy shares aggressively: CNBC

  28-07-2015 22:53
  
  NEW YORK (Reuters) - Leon Cooperman, chief executive of hedge fund Omega Advisors, said on Tuesday that he would not buy energy shares aggressively given the current situation in China.
  
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• Global stocks rally as China fears dwindle, oil prices steady

  28-07-2015 22:38 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. and European stock markets climbed 1 percent or more on Tuesday, reversing five days of declines, as investors looked past China's equities sell-off and took buying cues from earnings and mergers news.
  
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• Wall Street ends sharply higher as China jitters ebb

  28-07-2015 22:36 via news.yahoo.com
  
  The Dow Jones industrial average and S&P 500 chalked up gains of more than 1 percent, while the Nasdaq Composite lagged slightly. After the S&P sank over the past week toward the low end of a range it has traded in since February, some investors wagered the market was primed for a technical bounce-back. "The S&P has had five down days in a row and a lot of people are starting to nibble," said Michael Matousek, head trader at U.S. Global Investors Inc in San Antonio, which m
  
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• US STOCKS-Wall Street ends sharply higher as China jitters ebb

  28-07-2015 22:33 via news.yahoo.com
  
  The Dow Jones industrial average and S&P 500 chalked up gains of more than 1 percent, while the Nasdaq Composite lagged slightly. After the S&P sank over the past week toward the low end of a range it has traded in since February, some investors wagered the market was primed for a technical bounce-back. "The S&P has had five down days in a row and a lot of people are starting to nibble," said Michael Matousek, head trader at U.S. Global Investors Inc in San Antonio, which manages about $1 billio
  
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• Twitter second-quarter revenue, adjusted profit beat estimates

  28-07-2015 22:19 via news.yahoo.com
  
  By Devika Krishna Kumar and Yasmeen Abutaleb (Reuters) - Twitter Inc's quarterly earnings and revenue blew past expectations, but its monthly average user number grew at its slowest pa...
  
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• Alberta open to including incentives in review of oil and gas royalties

  28-07-2015 22:14 via news.yahoo.com
  
  By Mike De Souza CALGARY, Alberta (Reuters) - The new left-leaning government of oil-rich Alberta is open to the idea of offering economic incentives to oil and gas companies as it undertakes a review of the royalties they pay, Energy Minister Marg McCuaig-Boyd said on Tuesday. The review by the New Democratic Party (NDP) government, elected in May, was an campaign promise.
  
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• Wall Street rallies, breaking five-day losing streak

  28-07-2015 22:05 via news.yahoo.com
  
  (Reuters) - U.S. stocks rose on Tuesday, breaking a five-day losing streak as attention shifted from trouble in Chinese equities to U.S. corporate earnings and speculation the first Federal Reserve interest ...
  
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• EU's Mogherini in Iran to discuss nuclear deal, region: TV

  28-07-2015 22:03 via news.yahoo.com
  
  By Parisa Hafezi ANKARA (Reuters) - Iranian President Hassan Rouhani said on Tuesday the nuclear deal reached between Tehran and major world powers this month will help fight terrorism and bloodshed in the Middle East, Iran's state TV reported. Foreign Minister Mohammad Javad Zarif also cited wider effects of the deal, saying Tehran and the European Union could now discuss questions "including energy cooperation ... human rights, confronting terrorism and regional issues". The Ira
  
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• U.S. predicts 5.8 pct average rise in healthcare spending through 2024

  28-07-2015 22:01 via news.yahoo.com
  
  By Caroline Humer NEW YORK (Reuters) - The U.S. government expects healthcare spending to increase by 5.8 percent annually on average from 2014 through 2024 as more Americans gain insurance coverage and the improved economy drives patients to visit doctors and hospitals. The aging population's higher healthcare costs will also push health spending higher starting in 2019, according to a study from the Office of the Actuary at the Centers for Medicare and Medicaid Services, part of the U.S. Depar
  
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• US crude oil snaps 4-day losing streak, Brent slips

  28-07-2015 21:56 via news.yahoo.com
  
  US crude oil prices rose for the first time in five days Tuesday, while Brent dropped amid worries about abundant global supplies ahead of the weekly US petroleum inventories report. US benchmark West Texas Intermediate (WTI) for September delivery rose 59 cents to $47.98 on the New York Mercantile Exchange. Brent North Sea crude for delivery in September closed at $53.30 a barrel in London trade, slipping 17 cents from Monday's settlement in a fifth day in a row of declines.
  
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• New York City mayor calls for Puerto Rico to access U.S. bankruptcy laws

  28-07-2015 21:48
  NEW YORK, July 28 (Reuters) - New York City Mayor Bill de
  Blasio on Tuesday joined calls urging the U.S government to
  allow Puerto Rico's public entities to file for bankruptcy
  protection.
  
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• U.S. consumer mood darkens, home price growth stalls

  28-07-2015 21:32 via news.yahoo.com
  
  By Richard Leong and Chuck Mikolajczak NEW YORK (Reuters) - U.S. consumer confidence suffered its biggest blow in four years in July on a less upbeat jobs outlook, while home appreciation in major cities stalled in May, suggesting a spring pause in housing demand. The disappointing data comes as Federal Reserve policymakers meet to consider whether the U.S. economy is strong enough to warrant an end to the Fed's near zero interest rate policy, perhaps as soon as September. The Federal Open
  
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• TD Ameritrade to pay $300,000 to Texas for notification lapses

  28-07-2015 21:11
  NEW YORK (Reuters) - TD Ameritrade Inc agreed to pay $300,000 to the state of Texas and make a $100,000 contribution to an investor education fund for failing to enforce internal rules requiring...
  
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• LATAM WRAP-S&P's negative outlook puts pressure on Brazil

  28-07-2015 20:41 via news.yahoo.com
  
  S&P's decision to put Brazil's BBB- rating on negative outlook cast a shadow over what had been a positive Tuesday in the LatAm credit markets. Brazilian bond prices dipped after S&P raised the possibility of demoting the country's credit standing to junk, though overall the response was relatively muted. Brazil 2025s were down about 30 cents in early afternoon to trade at around 93.00, while the country's five-year CDS was back at around 300bp-302bp after opening around 291bp.
  
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• Venezuela president asks for U.N. mediation in Guyana border dispute

  28-07-2015 20:17
  UNITED NATIONS, July 28 (Reuters) - Venezuela's president Nicolas Maduro said he asked U.N. Secretary-General Ban Ki-moon for U.N. mediation in his country's century-old border dispute with...
  
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• US indexes advance on strong earnings; China stabilizes

  28-07-2015 20:07 via news.yahoo.com
  
  NEW YORK (AP) — Global stock markets steadied and U.S. markets advanced Tuesday, as investors were encouraged by strong results from UPS, Ford and other big companies.
  
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• BoE's Cunliffe says no turning back the "regulatory dial"

  28-07-2015 20:00
  LONDON, July 28 (Reuters) - Banks must make painful adjustments to how they operate in a post-crisis world and not rely on policymakers turning back the overall "regulatory dial", Bank of England...
  
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• UPDATE 2-Freeport may cut output at small N. American mines -analysts

  28-07-2015 19:56
  July 28 (Reuters) - Freeport-McMoRan Inc may cut output at its small North American copper and molybdenum mines to help it reduce costs, analysts said on Tuesday after the miner and oil producer...
  
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• CORRECTED-(OFFICIAL)-GM to double Brazil investment through 2019

  28-07-2015 19:48
  SAO PAULO, July 28 (Reuters) - General Motors Co plans to double its investment in Brazil to 13 billion reais ($3.8 billion) through 2019 and introduce a new family of vehicles into the country, the...
  
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• Europe close: Stocks rebound following China selloff

  28-07-2015 19:41 via news.yahoo.com
  
  (ShareCast News) - The European stock market rebounded on Tuesday from losses in the previous session prompted by the selloff in China.
  
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• UPDATE 1-Western Union's Paymap to pay $38.4 mln over mortgage ads

  28-07-2015 19:37
  July 28 (Reuters) - Paymap Inc, a unit of Western Union Co , agreed to pay $38.4 million to settle U.S. regulatory charges that it deceived consumers into signing up for a program advertised as a way...
  
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• GLOBAL MARKETS-Stocks rally after losing streak as China fears dwindle

  28-07-2015 19:31
  NEW YORK, July 28 (Reuters) - U.S. and European stocks rose on Tuesday, and were on track to snap five-day losing streaks as investors focused on earnings and mergers news and looked past another...
  
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• Canada Conservatives likely to lengthen election campaign -sources

  28-07-2015 19:29
  OTTAWA, July 28 (Reuters) - Canada's governing Conservatives are likely to lengthen this year's election campaign by launching it in August, three senior party sources said, a move that would benefit...
  
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• UPDATE 1-German, French tank makers seal armoured vehicles tie-up

  28-07-2015 19:24
  PARIS/FRANKFURT, July 28 (Reuters) - French and German armoured vehicle makers Nexter and KMW will seal their long-planned merger on Wednesday, the French defence ministry said, combining the Leclerc...
  
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• As China stocks dive, global investors worry more about yuan

  28-07-2015 19:19
  LONDON, July 28 (Reuters) - While local Chinese fret over the bursting of the Shanghai stock bubble, global investors are more worried about the yuan currency which once seemed destined to rise...
  
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• Oil prices pull back from lows

  28-07-2015 19:15 via news.yahoo.com
  
  Brent oil prices were higher Tuesday, pulling back from near six-month lows, as commodity markets in general were calmer after a recent rout fuelled by concerns over China's economy. Brent North Sea crude for delivery in September climbed 32 cents to stand at $53.79 a barrel in late London deals. US benchmark West Texas Intermediate for September delivery recovered from four-month lows but was still lower compared with Monday's close.
  
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• Greek bourse to reopen Wednesday or Thursday after ECB approval - regulator

  28-07-2015 19:09 via news.yahoo.com
  
  By Angeliki Koutantou and Lefteris Papadimas ATHENS (Reuters) - The Greek stock market will reopen on Wednesday or Thursday after a month-long shutdown but with restrictions on trading by local investors at the request of the European Central Bank, the Greek securities regulator chairman told Reuters on Tuesday. The Athens Stock Exchange (ASE) has been shut since June 29, after the government closed its banks and imposed capital controls to prevent them from collapsing in the face of mass withdr
  
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• Wall Street rises after China market steadies

  28-07-2015 19:08 via news.yahoo.com
  
  U.S. stocks were higher on Tuesday and were on track to break a five-day losing streak as a selloff in Chinese stocks eased and investors shifted focus to corporate earnings. China's top securities regulator said on Monday that Beijing would keep buying shares to stabilize the market, after the steepest decline in Chinese stocks in eight years. Baidu slumped as much as 17.7 percent to $162.72 after China's biggest Internet search company's quarterly profit missed estimates.
  
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• UPDATE 3-Greek bourse to reopen Wednesday or Thursday after ECB approval - regulator

  28-07-2015 19:06
  * Athens Stock Exchange been closed since June 29 (Recasts with Greek regulator's comments)
  
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• US STOCKS-Wall Street rises after China market steadies

  28-07-2015 19:03 via news.yahoo.com
  
  U.S. stocks were higher on Tuesday and were on track to break a five-day losing streak as a selloff in Chinese stocks eased and investors shifted focus to corporate earnings. China's top securities regulator ...
  
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• GM to double Brazil investment through 2018

  28-07-2015 19:01
  SAO PAULO, July 28 (Reuters) - General Motors Co plans to double its investment in Brazil to 13 billion reais ($3.8 billion) through 2018 and introduce a new family of vehicles into the country,...
  
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• ON THE MOVE-Merrill hires $2 mln broker from UBS

  28-07-2015 19:00
  NEW YORK, July 28 (Reuters) - For the third time in a week, Bank of America Merrill Lynch said it hired a big money-making broker away from a competitor.
  
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• BRIEF-Erytech Pharma announces plans for IPO in United States

  28-07-2015 18:59
  * Erytech announces plans to conduct registered initial public offering in the United States Source text: http://bit.ly/1JP3QzJ Further company coverage: (Gdynia Newsroom)
  
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• UPDATE 2-Mexico's Pemex posts wider 2nd-qtr loss on lower prices, output

  28-07-2015 18:56
  MEXICO CITY, July 28 (Reuters) - Mexican state-run oil company Pemex said losses widened in the second quarter, marking its eleventh straight quarter in the red, on slumping prices and a nearly 10...
  
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• UPDATE 3-After strong quarter, Ford aims to 'disrupt like a startup'

  28-07-2015 18:54
  DETROIT, July 28 (Reuters) - Ford Motor Co's chief executive, Mark Fields, said on Tuesday he wants the company to act "like a startup" as it prepares for an evolution of the auto industry, after it...
  
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• Honeywell to buy Melrose's utility metering business for $5.1 billion

  28-07-2015 18:52
  
  (Reuters) - Honeywell International Inchas made its largest purchase in more than a decade, agreeing to buy the utility consumption metering business of Britain's Melrose Industries Plcfor about...
  
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• UPDATE 3-Honeywell to buy Melrose's utility metering business for $5.1 bln

  28-07-2015 18:51
  July 28 (Reuters) - Honeywell International Inc has made its largest purchase in more than a decade, agreeing to buy the utility consumption metering business of Britain's Melrose Industries Plc for...
  
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• Paymap to pay $38.4 mln to settle charges over mortgage ads

  28-07-2015 18:49
  July 28 (Reuters) - Paymap Inc will return $33.4 million in fees to consumers and pay a $5 million civil penalty to resolve claims it deceived consumers with advertisements for a mortgage payment...
  
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• White House report calls for eased job licensing requirements

  28-07-2015 18:49 via news.yahoo.com
  
  Burdensome occupational licensing requirements can create barriers for workers and add costs to consumers, a White House report released Tuesday found. The White House has met with state leaders on the issue, but economic advisers did not say whether President Barack Obama would go further to press for changes. "Our goal here is simple: Making sure every American with the skills to do a job has an opportunity to get that job," Jeff Zients, director of the White House's National Economic Council,
  
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• European shares rebound on corporate results and takeover activity

  28-07-2015 18:43
  LONDON, July 28 (Reuters) - European shares rebounded on Tuesday, lifted by strong company results and corporate takeover activity after falling in the previous five sessions due to concerns over...
  
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