Finance news

• Argentina's Macri wants central bank chief to resign-media

  13-08-2015 23:54
  BUENOS AIRES, Aug 13 (Reuters) - Argentina's leading opposition presidential candidate Mauricio Macri expects the country's central bank chief to step down if he wins the presidential election in...
  
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• CORRECTED-CANADA FX DEBT-C$ posts biggest one-day gain since April as China drags on U.S.$

  13-08-2015 23:36
  (Corrects paragraph 3 spelling to KnightsbridgeFX.com instead of Knightsbridge.com) * Canadian dollar ends at C$1.2973, or 77.08 U.S. cents * Bond prices mixed across the maturity curve By Solarina...
  
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• UPDATE 1-Expenses in Canada Senate scandal likely legal: PM's ex-aide

  13-08-2015 23:32
  OTTAWA, Aug 13 (Reuters) - Canadian Prime Minister Stephen Harper's aides forced a political ally to repay expenses he was probably entitled to because they wanted to quash a damaging ethics scandal,...
  
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• UPDATE 6-Greek ruling party heads towards split before bailout vote

  13-08-2015 23:31
  * Confounding gloomy forecasts, economy returns to growth (Adds delay into Friday, lawmaker's comment)
  
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• UPDATE 3-Edward Jones to pay over $20 mln for overcharging muni clients

  13-08-2015 23:31
  Aug 13 (Reuters) - Brokerage firm Edward Jones agreed to pay more than $20 million to settle charges that it had overcharged retail customers in new municipal bonds sales between 2009 and 2012, the...
  
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• U.S.-based taxable bond funds post third week of outflows - Lipper

  13-08-2015 23:23
  NEW YORK, Aug 13 (Reuters) - Investors in U.S.-based funds pulled $2 billion out of taxable bond funds in the week ended Aug. 12, marking the funds' third straight week of outflows, data from Thomson...
  
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• CANADA FX DEBT-C$ softens as greenback rebounds, crude slides to multi-year low

  13-08-2015 23:15
  (Adds closing figures, strategist comments and details) * Canadian dollar ends at C$1.3064 or 76.55 U.S. cents * Bond prices mixed across the maturity curve By Solarina Ho TORONTO, Aug 13 (Reuters) -...
  
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• Brazil's Copersucar loses top sugar mill as industry woes deepen

  13-08-2015 23:03
  SAO PAULO, Aug 13 (Reuters) - Copersucar, Brazil's biggest sugar trader, quietly parted ways with its biggest milling group in May, the CEO of the milling group, Grupo Virgolino de Oliveira (GVO),...
  
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• Wall St. up as consumer, financial stocks lead gains

  13-08-2015 22:58 via news.yahoo.com
  
  Wall Street rose in early afternoon trading on Thursday, helped by a rally in financial and consumer discretionary stocks after strong U.S. economic data put the likelihood of a September rate hike back on the table. The stock gave the biggest boost to the Nasdaq and the S&P. U.S. retail sales rebounded in July, while the trend of weekly jobless claims pointed to a tightening job market, increasing the likelihood that the Federal Reserve would raise interest rates as early as September. The
  
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• Djokovic puts boot to Sock to reach quarters

  13-08-2015 22:51 via news.yahoo.com
  
  World number one Novak Djokovic stormed into the quarter-finals of the Rogers Cup with 6-2 6-1 demolition of Jack Sock on Thursday running his Masters 1000 winning streak to 28 matches. Second seed Andy Murray followed Djokovic into the last eight in equally economic fashion, disposing of Luxembourg's Gilles Muller 6-3 6-2 in a tidy 65 minutes.
  
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• Currency war fears ease; oil hits six-year low

  13-08-2015 22:49 via news.yahoo.com
  
  Bond yields rose in major markets on Thursday after China's central bank reassured investors there was no reason for its currency to keep falling, but oil prices fell to six-year lows on supply concerns. Despite the renewed calm in markets, the yuan weakened for a third day and some forecast further declines in the face of a weak economy, even as People's Bank of China Vice-Governor Yi Gang dismissed talk of a deeper devaluation. The PBOC set its guidance rate at 6.4010 per U.S. dollar
  
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• US stocks close mixed as China's currency stabilizes

  13-08-2015 22:28 via news.yahoo.com
  
  NEW YORK (AP) — The anxiety that rattled markets earlier this week dissipated Thursday as China's central bank calmed concerns that the country's currency would continue its slide. Major markets in Europe and Asia made gains, while the U.S. stock market finished with a slight loss.
  
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• U.S., Venezuela talks a 'work in progress,': Venezuela diplomat

  13-08-2015 22:06 via news.yahoo.com
  
  By Lesley Wroughton WASHINGTON (Reuters) - Venezuela's top diplomat in Washington said that after five months of quiet diplomacy, relations between the two adversaries were still tentative, with no real rapprochement yet after a decade of hostility. "It is a work in progress," said Maximilien Arvelaiz, Venezuela's charge d'affaires in Washington and the point person in the high-level contacts with State Department diplomats. "It's not like we now understand eac
  
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• Greek economy grew 0.8% in Q2, averted recession in Q1: official

  13-08-2015 21:55 via news.yahoo.com
  
  Greece's economy expanded by 0.8 percent in the second quarter of 2015 over the last three months, the national statistics agency said Thursday, adding that the country escaping recession in the first quarter. According to the new figures, the Greek economy posted zero growth in the first quarter of the year after having contracted 0.2 percent in the last quarter of 2014 -- thus averting two periods of decline constituting recession.
  
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• US oil prices fall to fresh six-year low

  13-08-2015 21:25 via news.yahoo.com
  
  The oil market has had an up and down week, with worries about the Chinese economy rising after Beijing surprised markets by devaluing the yuan. "The market continues to reel under very weak fundamentals," said Gene McGillian, broker and analyst at Tradition Energy. McGillian said there is a "potential for a further slide" in oil prices but strengthening US demand for petroleum products could help guard the market from further falls.
  
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• European stocks mixed on China, Greek parliament vote

  13-08-2015 19:35 via news.yahoo.com
  
  Europe's main stock markets closed mixed on Thursday, rebounding slightly from recent heavy losses linked to China's weakening of its currency and awaiting a Greek parliament vote on terms for a third bailout. In the eurozone, Frankfurt's DAX 30 rose 0.82 percent to 11,014.63 points, while the CAC 40 in Paris gained 1.25 percent to end at 4,986.85. The euro dropped to $1.1140 from $1.1159 late in New York on Wednesday.
  
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• Wall Street up as consumer, financial stocks lead gains

  13-08-2015 19:31 via news.yahoo.com
  
  (Reuters) - Wall Street rose in early afternoon trading on Thursday, helped by a rally in financial and consumer discretionary stocks after strong U.S. economic data put the likelihood of a September rate hike back on the table.
  
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• North Korea will pursue 'defensive' nuclear program: envoy

  13-08-2015 19:21 via news.yahoo.com
  
  By Stephanie Nebehay GENEVA (Reuters) - North Korea will pursue its "defensive" nuclear program as long as it feels threatened by the United States, its U.N. disarmament envoy in Geneva told Reuters on Thursday. In a rare interview, Ambassador So Se Pyong also denounced the latest joint U.S.-South Korean military exercises, due to start next week, saying they fanned tensions on the divided peninsula as it marks the 70th anniversary of liberation from Japanese occupation at the end of World War T
  
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• ECB worried about economic slowdown in China, minutes show

  13-08-2015 19:21 via news.yahoo.com
  
  The European Central Bank acknowledged Thursday that its governing council is concerned about the economic slowdown in China, even if the impact appears to be fairly limited for now. "Financial developments in China could have a larger than expected adverse impact, given this country's prominent role in global trade," the governing council said, according to the minutes of its meeting on July 15 and 16 released on Thursday.
  
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• Shares, bond yields gain as currency war fears ease

  13-08-2015 18:48 via news.yahoo.com
  
  By David Gaffen NEW YORK (Reuters) - Shares revived and bond yields rose in major markets on Thursday after China's central bank reassured investors there was no reason for its currency to keep falling. Despite the calming markets, the yuan weakened for a third day and some forecast further declines in the face of a weak economy, even as People's Bank of China Vice-Governor Yi Gang dismissed talk of a deeper devaluation. The PBOC set its guidance rate at 6.4010 per dollar prior to the
  
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• U.S. farmer incomes, cropland values projected to fall more

  13-08-2015 18:48 via news.yahoo.com
  
  The U.S. farm economy faces more pressure this quarter from low grain prices and stubbornly high costs, with incomes down across much of the country's most important cropland, quarterly reports from Federal Reserve banks show. Second-quarter surveys released on Thursday by the Federal Reserve banks of Kansas City and St. Louis also suggested the value of cropland would decline further in the third quarter. The rural economy has been hit by recent bumper harvests that have pushed grain prices to
  
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• UPDATE 3-Kohl's misses estimates on delayed back-to-school shopping

  13-08-2015 18:37
  * Shares fall 11.3 pct (Adds conference call details, analyst comments; updates shares)
  
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• UPDATE 4-Elevators, steel drive ThyssenKrupp profit beat

  13-08-2015 18:31
  * Cash flow target toned down to breakeven from positive (Adds executive comments on China, capex, details on cash flow, new analyst comment, updates shares)
  
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• UPDATE 2-Dutch engineer Imtech bankrupt, parts sold to investors

  13-08-2015 18:04
  * Other parts of the business also attracting interest(Adds details on buyers, use of sale proceeds, background)
  
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• Britain's FTSE ends flat, weighed down by weaker oil prices

  13-08-2015 18:02
  * G4S falls after broker downgrades (Recasts, updates closing prices)
  
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• India vows to launch major tax reform on schedule

  13-08-2015 17:57 via news.yahoo.com
  
  India's Finance Minister Arun Jaitley said Thursday his government was determined to launch a landmark national sales tax on schedule, just hours after a chaos-hit parliament shut down without passing the bill. Jaitley left open the option of reconvening the just-ended session of parliament to push through the long-awaited bill, one of the biggest economic reforms in decades aimed at boosting growth. "We are determined that it be implemented on April 1," Jaitley told reporters in
  
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• UPDATE 3-Demand for Coty's cosmetics makes up for weak perfume sales

  13-08-2015 17:55
  * Shares rise as much as 9 pct (Adds CEO, analyst comments; updates shares)
  
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• Wall Street flat as investors focus on economic growth

  13-08-2015 17:53 via news.yahoo.com
  
  U.S. retail sales rebounded in July, while the trend of weekly jobless pointed to a tightening job market, increasing the likelihood that the Federal Reserve would raise interest rates as early as September. Investors had pared back bets of a September rate hike after China devalued the yuan on Tuesday. "People are still worried about China because the country is so opaque and there are always questions regarding the official numbers," said Kim Forrest, senior equity research analyst a
  
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• CORRECTED-UPDATE 2-Coty sales, profit beat on strong demand for cosmetics

  13-08-2015 17:53
  Aug 13 (Reuters) - Coty Inc reported higher-than-expected sales for the first time in five quarters as strong demand for its Sally Hansen nail products and Rimmel cosmetics more than made up for...
  
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• REFILE-BRIEF-Royal Imtech NV declared bankrupt by Rotterdam court

  13-08-2015 17:26
  * Objective to preserve as much as possible other parts of the group
  
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• Artist Ai Weiwei says China at 'critical point'

  13-08-2015 16:50 via news.yahoo.com
  
  By Noah Barkin BERLIN (Reuters) - Ructions in the Chinese stock market and currency suggest the country has reached a "critical point" where the absence of democratic freedoms is a growing threat to economic stability, Chinese artist and free-speech advocate Ai Weiwei says. Speaking to Reuters at his atelier in the basement of a former brewery in Berlin's Prenzlauer Berg district, Ai was more outspoken about China's one-party system than he has been in a series of interviews
  
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• Solid U.S. retail sales bolster Fed rate hike expectations

  13-08-2015 16:34 via news.yahoo.com
  
  U.S. retail sales rebounded in July as households boosted purchases of automobiles and a range of other goods, suggesting solid momentum in the economy early in the third quarter. The upbeat report from the Commerce Department on Thursday should strengthen expectations of a Federal Reserve interest rate hike as early as next month. Although another report showed a rise in new applications for unemployment benefits last week, the trend pointed firmly to a tightening jobs market.
  
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• Germans borrow more as Merkel urges Europe to spend carefully

  13-08-2015 16:28 via news.yahoo.com
  
  While Chancellor Angela Merkel's focus on careful spending as a cure for the euro zone's debt problems has made her popular at home, German consumers are borrowing more to finance everything from furniture to cars. Germans, traditionally a nation of debt-averse savers, took out an average of 8,700 euros ($9,650) in loans last year - a rise of around 10 percent compared with 2013, according to Schufa, Germany's main credit bureau. During the euro zone crisis, Merkel and her governm
  
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• US, world stocks steady as China slows yuan weakening

  13-08-2015 16:18 via news.yahoo.com
  
  NEW YORK (AP) — Global stock markets are steady on Thursday as the decline in China's currency slowed and the country's central bank eased fears of more steep drops. Major indexes in the U.S. drifted slightly lower.
  
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• Wall Street falls as jobs data raises chances of September rate hike

  13-08-2015 16:09 via news.yahoo.com
  
  (Reuters) - Wall Street fell in morning trading on Thursday as strong U.S. economic data increased the likelihood that the Federal Reserve would raise interest rates in September, rather than later in the year.
  
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• Wall Street falls as jobs data raises chances of Sept rate hike

  13-08-2015 16:08 via news.yahoo.com
  
  Wall Street fell in morning trading on Thursday as strong U.S. economic data increased the likelihood that the Federal Reserve would raise interest rates in September, rather than later in the year. While inflation remains below what the Fed would like to see, the labor markets have continued to strengthen – a key factor in the central bank's timing of a rate hike.
  
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• Analysts cut Alibaba share price targets as China e-commerce growth slows

  13-08-2015 16:03 via news.yahoo.com
  
  By Paul Carsten BEIJING (Reuters) - Analysts have cut their price targets for Alibaba Group Holding Ltd shares after the stock fell to a post-flotation low on Wednesday on weak earnings and concerns over China's economy. Alibaba's shares are now at $73.38, hovering just above their initial public offering price of $68. The average target price fell from $106.82 on Tuesday to $99.09 on Thursday, according to a Thomson Reuters survey of 46 analysts.
  
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• Canadian dollar softens as greenback rises on data, yuan calm

  13-08-2015 15:58 via news.yahoo.com
  
  The Canadian dollar softened against a rebounding U.S. currency on Thursday as economic data helped drive the greenback higher and as China soothed concern that its devaluation of the yuan might spur a currency war. The People's Bank of China said it would now calculate the daily yuan fix by taking more notice of market forces and that it saw no basis for further depreciation. In the United States, upbeat retail sales data helped reaffirm expectations that the Federal Reserve could start ra
  
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• US retail sales rose in July, aided by autos and restaurants

  13-08-2015 15:41 via news.yahoo.com
  
  WASHINGTON (AP) — Americans bought more cars, restaurant meals and building supplies in July, a rise in spending that points to steady economic growth anchored by an improving job market.
  
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• Wall Street opens marginally lower

  13-08-2015 15:38 via news.yahoo.com
  
  REUTERS - U.S. stocks opened slightly lower on Thursday as strong economic data raised the probability that the Federal Reserve could raise interest rates as early as September, rather than later this year. The Dow Jones industrial average fell 24.49 points, or 0.14 percent, to 17,378.02, while the S&P 500 lost 1.38 points, or 0.07 percent, to 2,084.67. The Nasdaq composite added 4.56 points, or 0.09 percent, to 5,048.94. (Reporting by Anjali Rao Koppala in Bengaluru; Editing by Savio D'
  
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• Britain's 'feral' financiers need curbing, says Labour frontrunner's economics guru

  13-08-2015 15:34 via news.yahoo.com
  
  By Guy Faulconbridge and Kylie MacLellan LONDON (Reuters) - Britain's economy is too dominated by "feral finance" and greater levels of regulation and taxation are needed to curb speculative activity by banks, says the man behind Labour leadership frontrunner Jeremy Corbyn's economic policy. Labour is the middle of electing a new leader after its worst election defeat in nearly three decades in May. Veteran left-wing lawmaker Corbyn has risen from rank outsider to bookmakers&
  
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• Britain's FTSE rebounds, Coca-Cola HBC leads gainers

  13-08-2015 15:31
  * FTSE 100 rebounds from losses earlier in week, now up 0.3 pct
  
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• UPDATE 1-Hercules Offshore files for bankruptcy protection

  13-08-2015 15:29
  Aug 13 (Reuters) - Drilling contractor Hercules Offshore Inc
  said it filed for Chapter 11 bankruptcy as demand from
  oil and gas producers and explorers drops due to weak prices.
  
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• Wall Street set to open lower after jobs data

  13-08-2015 15:28 via news.yahoo.com
  
  Wall Street was set to open slightly lower on Thursday as strong economic data increased the likelihood that the Federal Reserve would raise interest rates in September, rather than later in the year. While inflation remains below what the Fed would like to see, the labor markets have continued to strengthen – a key factor in the central bank's timing of a rate hike. The Fed will probably raise rates twice this year, with the first increase coming as early as next month, according to a Re
  
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• U.S. retail sales rebound; labor market tightening

  13-08-2015 15:21 via news.yahoo.com
  
  U.S. retail sales rebounded in July as households boosted purchases of automobiles and a range of other goods, suggesting solid momentum in the economy early in the third quarter. The upbeat report from the Commerce Department on Thursday should strengthen expectations of a Federal Reserve interest rate hike as early as next month. Although another report showed a rise in new applications for unemployment benefits last week, the trend pointed firmly to a tightening jobs market.
  
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• UPDATE 2-Maersk to go for market share after profits beat forecasts

  13-08-2015 15:19
  * Analyst says Maersk can use its low costs to beat rivals (Adds CEO, analyst comment, share price, more detail)
  
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• China central bank tries to soothe markets, says no reason for yuan to fall further

  13-08-2015 14:50 via news.yahoo.com
  
  BEIJING/SHANGHAI (Reuters) - China's central bank said on Thursday there was no reason for the yuan to fall further given the country's strong economic fundamentals, helping to restore calm to jittery global markets after it devalued the currency earlier in the week. As the yuan slid for a third straight day, the People's Bank of China (PBOC) said the strong economic environment, sustained trade surplus, sound fiscal position and deep foreign exchange reserves provided "stron
  
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• Hercules Offshore files for bankruptcy protection

  13-08-2015 14:46
  Aug 13 (Reuters) - Oil and gas drilling contractor Hercules
  Offshore Inc filed for Chapter 11 bankruptcy on
  Thursday, hurt by falling demand as producers and explorers cut
  spending.
  
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• U.S. retail sales rise solidly, boosted by automobiles

  13-08-2015 14:45 via news.yahoo.com
  
  WASHINGTON, (Reuters) - U.S. retail sales rebounded in July as households boosted purchases of automobiles and a range of other goods, suggesting solid momentum in the economy early in the third quarter.
  
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• US retail sales rise in July, aided by autos and restaurants

  13-08-2015 14:37 via news.yahoo.com
  
  WASHINGTON (AP) — Americans bought more cars, restaurant meals and building supplies in July, as the spending points to steady economic growth anchored by the improving job market.
  
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