Finance news

• Allies of Brazil's Rousseff see leadership vacuum as economy sinks

  06-08-2015 23:41 via news.yahoo.com
  By Anthony Boadle BRASILIA (Reuters) - Allies of Brazil's President Dilma Rousseff have turned to her opponents to talk about filling what they see as a damaging leadership vacuum after losing confidence in her ability to pull the country out of an economic tailspin, party insiders said on Thursday. Two parties broke ranks with Rousseff's governing coalition on Wednesday night, fueling a lopsided defeat on a lower chamber bill raising salaries for police officers, prosecutors and gover
  
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• RCS Capital shares take wild ride amid reorganization

  06-08-2015 23:27
  NEW YORK, Aug 6 (Reuters) - Shares of RCS Capital Corp soared 18 percent on Thursday morning on speculation about a major announcement it planned to make and then tumbled 29 percent when the retail...
  
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• Investors in risk-off mode ahead of jobs data

  06-08-2015 22:51 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - Weak earnings dragged stocks lower on Thursday and oil fell on continued oversupply concerns, while Treasuries prices rose ahead of U.S. jobs numbers seen as key to determine the timing of a rate hike from the Federal Reserve. Wall Street traded lower, weighed by biotech shares and on a second day of sharp declines in media companies after Viacom's revenue miss was linked to viewers increasingly shifting from cable television to online streaming. Marke
  
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• Egypt unveils Suez Canal extension with pomp-filled ceremony

  06-08-2015 22:48 via news.yahoo.com
  
  ISMAILIA, Egypt (AP) — In a defining moment of his young presidency, Egypt's Abdel-Fattah el-Sissi presided Thursday over the unveiling of a major extension of the Suez Canal that he hailed as a historic feat needed to revive the country's ailing economy after years of unrest.
  
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• Hollande and Tsipras want Greek bailout agreed in late August

  06-08-2015 22:41 via news.yahoo.com
  
  ATHENS/ISMAILIA, Egypt (Reuters) - A new bailout for Athens should be agreed by late August, Greek Prime Minister Alexis Tsipras and French President Francois Hollande said on Thursday. Greece is in negotiations with the European Union and International Monetary Fund for as much as 86 billion euros ($94 billion) in fresh loans to stave off financial ruin and economic collapse. Hollande said by the end of the month.
  
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• TSX ends lower as banks, healthcare sectors weaken

  06-08-2015 22:26 via news.yahoo.com
  
  By Alastair Sharp TORONTO (Reuters) - Canada's main stock index ended lower on Thursday, dragged down by weakness in the financial and healthcare sectors ahead of a U.S. jobs report. The U.S. July nonfarm payrolls data, due to be released on Friday, is seen as a barometer of economic health and could influence the Federal Reserve's monetary policy decisions. The benchmark TSX's decline came after gains in the previous six sessions.
  
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• Wall Street slides with media shares; payrolls eyed

  06-08-2015 22:11 via news.yahoo.com
  
  NEW YORK (Reuters) - Wall Street fell on Thursday as biotech stocks sank and as fears that more viewers are ditching cable TV sent media companies' shares sharply lower.
  
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• Media companies lead a broad decline in US stocks

  06-08-2015 22:09 via news.yahoo.com
  
  NEW YORK (AP) — Media companies led a broad decline on the stock market as investors worried about fading revenue from cable television.
  
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• U.S. companies may be hiring but lid on wages, investment hits productivity

  06-08-2015 22:00 via news.yahoo.com
  
  As the Federal Reserve puzzles over what is holding back U.S. wages and productivity six years into the economic recovery, a pasta sauce company in New Jersey may offer some answers. Chelten House Products makes private-label sauces and dressings for high-end grocers such as Whole Foods, Trader Joe's and Kroger, and has doubled its workforce to 300 over the past five years to keep up with a booming organic food market. Chelten CEO Steve Dabrow says factory work is becoming a harder sell wit
  
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• Repo market bets on solid U.S. jobs data

  06-08-2015 21:45
  NEW YORK (Reuters) - Traders in a key corner of the U.S. bond market appear to be betting on a solid July payrolls report on Friday, which would strengthen the case for the Federal Reserve to raise...
  
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• Exclusive: Banks back away from Paulson Advantage fund after poor 2014

  06-08-2015 21:43
  
  BOSTON (Reuters) - UBS AG has joined Bank of America in closing down some options for wealthy clients to access billionaire investor John Paulson's Advantage fund, sources said on Thursday, after the...
  
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• Wall Street slumps as media stocks hemorrhage

  06-08-2015 21:02 via news.yahoo.com
  
  The selloff was compounded by nervousness ahead of key jobs data on Friday that could provide clues about the timing of the first Federal Reserve interest rate hike in almost a decade. Viacom fell as much as 23.6 percent to its lowest in almost four years after reporting lower-than-expected quarterly revenue due to weakness in its cable TV business. Walt Disney was off 2.9 percent and down for a second session after it lowered profit guidance for its cable networks unit on Tuesday.
  
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• Wall Street slumps as media stocks bleed

  06-08-2015 20:56 via news.yahoo.com
  
  U.S. stocks slumped on Thursday as a spate of poor earnings reports from media companies dragged the sector index to its worst two-day loss since the financial crisis. Walt Disney's shares fell 5.3 percent to $104.67, a day after their largest daily drop in almost seven years. The stock was also the biggest drag on the Dow and the S&P 500.
  
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• IBM to buy Merge Healthcare in $1 billion deal

  06-08-2015 20:56
  
  (Reuters) - IBM Corpsaid it would buy medical image company Merge Healthcare Incin a $1 billion deal and combine it with its newly formed health analytics unit, which is powered by its famous...
  
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• Detroit's county opts for consent agreement for fiscal fix

  06-08-2015 20:32
  Aug 6 (Reuters) - Wayne County, Michigan officials on Thursday chose a consent agreement with the state to implement a plan to deal with their government's financial emergency.
  
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• Egypt's Sisi opens New Suez Canal, says to defeat terrorists

  06-08-2015 20:22 via news.yahoo.com
  
  By Eric Knecht ISMAILIA, Egypt (Reuters) - Egypt received a show of international support on Thursday as it inaugurated a major extension of the Suez Canal which President Abdel Fattah al-Sisi hopes will power an economic turnaround in the Arab world's most populous country. The former armed forces chief, who led a military takeover two years ago but ran for president as a civilian last year, told a ceremony attended by French, Russian, Arab and African leaders that Egypt would defeat the t
  
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• Three European Coca-Cola bottlers to merge

  06-08-2015 20:18
  
  LONDON (Reuters) - Three European bottlers of Coca-Coladrinks have agreed to merge in what will be one of the continent's largest consumer products deals ever, as they hope greater scale and cost...
  
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• Growth of ecommerce pushes funds into small-fry shipping firms

  06-08-2015 20:06
  
  NEW YORK (Reuters) - Forget Amazon and its out-of-this-world share price.
  
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• CORRECTED-SAFT ON WEALTH-State pension plans putting politics above retirements

  06-08-2015 19:57
  July 31 (Reuters) - State public pension funds love buying shares in local companies, but it is not so much a matter of "buying what you know" as "buying shares of companies with political clout."
  
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• UPDATE 2-Quindell shares slump 28 pct after trading resumes

  06-08-2015 19:45
  * Britain's SFO looking at accounting practices (Adds company comments, closing share price)
  
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• UPDATE 3-Bank of England signals early 2016 hike after sterling climb

  06-08-2015 19:44
  * Carney warns markets not to be too relaxed (Writes through)
  
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• PREPA bondholders can expect recovery rates of 65-70 pct - Moody's

  06-08-2015 19:38
  Aug 6 (Reuters) - Puerto Rico Electric Power Authority's (PREPA) debt holders can expect to recover 65 to 70 percent of their investment under the utility's latest restructuring plan, Moody's...
  
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• Media stocks are among biggest losers in afternoon trading

  06-08-2015 19:14 via news.yahoo.com
  
  NEW YORK (AP) — Big media companies led the stock market lower Thursday as investors fretted over fading revenue from cable television. Viacom and 21st Century Fox were among the hardest hit.
  
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• Looting and violence on the rise in Venezuela supermarkets

  06-08-2015 19:11 via news.yahoo.com
  
  By Diego Oré CARACAS (Reuters) - Venezuelan supermarkets are increasingly being targeted by looters as swollen lines and prolonged food shortages spark frustration in the OPEC nation struggling with an economic crisis. The economic crisis has hit President Nicolas Maduro's approval ratings and raised tension levels in the country. Fifty-six incidents of looting and 76 looting attempts took place in the first half of 2015, according local NGO Venezuelan Observatory of Social Conflict, which
  
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• BlackRock betting big data can help revive its active equity funds

  06-08-2015 18:34
  
  NEW YORK (Reuters) - BlackRock Inc CEO Larry Fink is betting that a trillion points of data can help revive his firm's ailing stock-picking business.
  
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• Lost decade in oil industry reinforces 'lower for longer' prices: Goldman Sachs

  06-08-2015 18:24 via news.yahoo.com
  
  Goldman Sachs on Thursday joined the view that oil prices will remain "lower for longer" after forward prices, commodity currencies and energy equities reached levels not seen since 2005. Analysts at the influential bank argue that the economic environment for the oil industry has changed fundamentally due to higher financial and operational stress, declining costs, productivity gains and a stronger dollar. "These differences reflect not only a further deterioration in fundamentals, but also the
  
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• BRIEF-Atlas Mara, OPIC partner for $300 mln project

  06-08-2015 18:22
  * Atlas Mara and OPIC partner with $300 million to advance inclusive lending in Africa
  
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• Egypt's Sisi unveils 'new Suez Canal'

  06-08-2015 18:19 via news.yahoo.com
  
  President Abdel Fattah al-Sisi unveiled an expanded Suez Canal Thursday in a lavish ceremony, with the first ships passing through the waterway in what Egypt hopes will boost its economy and global standing. Sisi, dressed in a ceremonial military uniform, arrived aboard a historic yacht at the head of a naval flotilla as fighter planes and helicopters flew overhead. "Egyptians exerted massive efforts to offer to the world a gift for the sake of humanity... in very difficult economic and sec
  
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• UPDATE 4-Planet Fitness' weak debut puts spotlight on valuations

  06-08-2015 18:16
  * Company valued at about $1.6 bln at day's high (Adds details; valuation; share movement)
  
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• FTSE rises off lows after dovish BoE vote, miners weigh

  06-08-2015 18:11 via news.yahoo.com
  
  By Alistair Smout LONDON (Reuters) - The FTSE 100 edged down on Thursday, weighed down by weakness in miners and insurer RSA, though it briefly rallied off lows after a broadly dovish update from the Bank of England. The FTSE 100 index ended down 5.32 points, or 0.1 percent lower at 6,747.09 points, turning slightly lower after a negative open on Wall Street. The index had received a boost after fewer than expected Bank of England officials voted for a rate rise, leading investors to bet that bo
  
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• Britain's FTSE rises off lows after dovish BoE vote, miners weigh

  06-08-2015 18:10 via news.yahoo.com
  
  Britain's top share index edged down on Thursday, weighed down by weakness in miners and insurer RSA, though it briefly rallied off lows after a broadly dovish update from the Bank of England. The FTSE 100 index ended down 5.32 points, or 0.1 percent lower at 6,747.09 points, turning slightly lower after a negative open on Wall Street. The index had received a boost after fewer than expected Bank of England officials voted for a rate rise, leading investors to bet that borrowing costs will remai
  
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• Media stocks are among biggest losers in midday trading

  06-08-2015 18:09 via news.yahoo.com
  
  NEW YORK (AP) — Big media companies led the stock market lower Thursday as investors fretted over fading revenue from cable television. Viacom and 21st Century Fox were among the hardest hit.
  
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• Fed's forecasts for jobless rate look out of step with history

  06-08-2015 18:09 via news.yahoo.com
  
  Most Federal Reserve policymakers expect the U.S. jobless rate will stop plunging and stabilize right around its long-term normal level, a risky forecast given that this apparently hasn't happened in at least a half century. Across decades of economic records as the economy healed after recessions, the rate dipped well below what analysts consider normal, the so-called "natural rate" of unemployment. Fed policymakers are betting history will unfold differently this time.
  
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• GLOBAL MARKETS-Stocks off ahead of U.S. jobs data, oil falls further

  06-08-2015 18:07
  * Brent at fresh six-month low (Updates prices, changes comment, byline, dateline)
  
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• UPDATE 2-Imtech shares slump to record low after German unit files for insolvency

  06-08-2015 18:05
  AMSTERDAM, Aug 6 (Reuters) - The German unit of Dutch engineering group Royal Imtech NV has filed for insolvency after failing to secure credit from lenders, adding to a list of problems at the...
  
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• Blackstone teams up with Hellman & Friedman for Worldpay bid - sources

  06-08-2015 17:52 via news.yahoo.com
  
  U.S. private equity firm Blackstone has joined forces with buyout fund Hellman & Friedman in a race for British payments processing company Worldpay, two sources familiar with the matter said on Thursday. Worldpay's private equity owners, Advent and Bain, are preparing the company for a London stock market listing which is likely to propel the firm into the FTSE 100 . Last month, they appointed Barclays' deputy chairman Michael Rake as Worldpay's new chairman, replacing John Allan.
  
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• European stocks close down ahead of US jobs data

  06-08-2015 17:50 via news.yahoo.com
  
  Europe's main stock markets closed lower on Thursday, on the eve of US jobs data that could cement expectations of a Fed rate rise next month. London's benchmark FTSE 100 index slipped 0.08 percent to 6,747.09 points after the Bank of England decided to keep its main interest rate at 0.50 percent earlier in the day. "As the camp expecting a rates rise in the coming months from both US and UK central bankers gains support, investors will be paying close attention to macroeconomic d
  
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• Wall Street falls as media stocks slump; jobs data awaited

  06-08-2015 17:45 via news.yahoo.com
  
  U.S. stocks fell on Thursday as a spate of poor earnings reports from media companies added to investors' nervousness ahead of a key jobs data that could provide clues regarding the timing of a rate hike. Walt Disney's shares fell 4.2 percent to $105.90, a day after their largest daily drop in almost seven years. Disney lowered profit guidance for its cable networks unit on Tuesday, while Viacom Inc reported lower-than-expected quarterly revenue hurt by weakness in its cable TV busines
  
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• CORRECTED-UPDATE 3-Silver Lake bets $1 bln on Motorola Solutions (Aug 5)

  06-08-2015 17:45
  Aug 5 (Reuters) - Motorola Solutions Inc said private equity firm Silver Lake would invest $1 billion in the maker of walkie-talkies and radio systems as it looks to boost growth in its services...
  
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• UPDATE 2-Polish banks roiled after deputies pass Swiss franc mortgage bill

  06-08-2015 17:38
  * Foreign currency loans a major election issue (Adds more details, regional context, and fresh market reaction)
  
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• UPDATE 1-U.S. commercial paper market grows to biggest in 7 months

  06-08-2015 17:28
  * Non-financial commercial paper hits highest in seven weeks (Updates with latest details from Fed)
  
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• Imtech's German subsidiary files for insolvency

  06-08-2015 17:22
  AMSTERDAM, Aug 6 (Reuters) - Dutch engineering firm Imtech
  on Thursday said its German subsidiary, Imtech
  Deutschland GmbH & Co, had filed for insolvency.
  
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• BRIEF-Royal Imtech Germany files for insolvency

  06-08-2015 17:17
  * In light of these developments and resulting potential
  conflicts of interest, Mr Felix Colsman, chairman of board of
  Imtech Germany, has decided to step down as member of the Board
  of Royal...
  
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• Hedge funds foiled by Europe's distorted debt market

  06-08-2015 17:16
  LONDON, Aug 6 (Reuters) - Ultra-easy European Central Bank monetary policy is protecting the debts of some of the bloc's weakest countries from attack by speculative hedge funds.
  
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• UPDATE 3-Greece bank stocks bounce back strongly after three-day crash

  06-08-2015 17:12
  ATHENS, Aug 6 (Reuters) - Greece's battered banking stocks staged a strong rebound on Thursday, bouncing back after a three-day rout that wiped 63 percent from their market value.
  
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• UPDATE 2-Hutchison, Vimpelcom to merge Italian mobile businesses

  06-08-2015 17:11
  * Deal needs regulatory approval (Shares, analyst, details on governance)
  
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• UPDATE 1-RCS Capital delays earnings by hours, says finalizing deal

  06-08-2015 17:07
  Aug 6 (Reuters) - RCS Capital Corp, an independent brokerage holding company, delayed its second-quarter earnings report by several hours on Thursday, saying in a regulatory filing it is finalizing...
  
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• U.S. Treasury to sell $48 billion in bills next week

  06-08-2015 17:04
  WASHINGTON, Aug 6 (Reuters) - For details of the U.S. Treasury's auction of 13-week and 26-week bills next week, see:
  
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• IMF says Chile reforms have hurt economy, advises reining in spending

  06-08-2015 17:00
  SANTIAGO, Aug 6 (Reuters) - Chilean President Michelle Bachelet's ambitious reform program and the uncertainty it has generated has likely hurt the economy in the short-term, the International...
  
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• TRLPC/IFR: CMBS spreads cling to 2-year wides, cut gap with CLO tranches

  06-08-2015 16:59
  NEW YORK, Aug 6 (Reuters) - Spreads on Commercial-Mortgage Backed Securities (CMBS) have widened to the highest levels in almost two years following market volatility, decreasing the spread...
  
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