Finance news

• UPDATE 1-Brazil's OAS receives offers for Invepar stake, units

  18-08-2015 23:50
  SAO PAULO, Aug 18 (Reuters) - Brazil's OAS Investimentos SA, whose parent company is under creditor protection, has so far received five proposals for a stake in infrastructure company Invepar, with...
  
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• Wall Street stocks dip after Chinese market tumbles

  18-08-2015 23:38 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - A 6.0 percent tumble in Chinese shares on Tuesday, and weak earnings from Wal-Mart pressured U.S. stocks and copper prices saw six year lows. Chinese stocks earlier plunged on concerns that companies may pull more money out of China as economic growth slows, lowering earnings for U.S. and European companies dependent on revenue from China. Wal-Mart Stores Inc , the world's largest retailer by revenue, saw its stock fall 3.4 percent to $69.48, and was the
  
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• GLOBAL MARKETS-Wall Street stocks dip after Chinese market tumbles

  18-08-2015 23:36
  NEW YORK, Aug 18 (Reuters) - A 6.0 percent tumble in Chinese shares on Tuesday, and weak earnings from Wal-Mart pressured U.S. stocks and copper prices saw six year lows.
  
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• Oil rises on U.S. data, bets for crude stockpile drop

  18-08-2015 23:25 via news.yahoo.com
  
  By Barani Krishnan NEW YORK (Reuters) - Oil prices settled up on Tuesday, with U.S. crude rallying as much as 2 percent, after bullish economic data and bets for lower crude stockpiles in the United States, the world's largest oil consumer. Short-covering ahead of Thursday's expiry of the key front-month contract in U.S. crude also helped the market advance from a 6-1/2-year low hit on Friday. "After selling precipitously over the last several days, oil prices were technically stretched and over
  
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• Wal-Mart, materials shares drag Wall Street lower

  18-08-2015 23:16 via news.yahoo.com
  
  U.S. stocks fell on Tuesday, with the S&P 500 trading in its tightest daily range in nearly a month, weighed down by earnings-related selling in Wal-Mart and a drop in commodity stocks on concerns about China's economy. Wal-Mart fell 3.4 percent to close at $69.48, its lowest in nearly 2-1/2 years, after its profit missed estimates and it cut its outlook. "You would think that a 6-percent China move amid the recent currency adjustments would have netted a more negative result," said Andre Ba
  
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• UPDATE 1-Peru sells $1.25 bln 12-yr global bond

  18-08-2015 23:16
  LIMA, Aug 18 (Reuters) - The government of Peru on Tuesday sold a $1.25 billion 12-year dollar-denominated bond to pay for next year's budget, its third tapping of global debt markets in the past...
  
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• S&P says Alaska's top credit rating at risk due to structural deficit

  18-08-2015 23:16
  Aug 18 (Reuters) - Alaska's structural budget deficit is threatening the state's triple-A credit rating, Standard & Poor's Ratings Services said on Tuesday, leading the agency to change its outlook...
  
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• UPDATE 1-Wells Fargo adding car loan branches to boost less risky lending

  18-08-2015 23:10
  Aug 18 (Reuters) - Wells Fargo is building more branches devoted to car loans and financing for auto dealers in an effort to increase its auto lending business without taking bad credit risk, the...
  
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• UPDATE 1-Fitch upgrades Greece to 'CCC' after new bailout agreed

  18-08-2015 23:01
  ATHENS, Aug 18 (Reuters) - Ratings agency Fitch upgraded its credit rating for Greece by one notch on Tuesday, saying the latest bailout deal the country struck with its foreign lenders reduced the...
  
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• US stocks fizzle as Wal-Mart falls and China slumps

  18-08-2015 22:57 via news.yahoo.com
  
  NEW YORK (AP) — The U.S. stock market shuffled to a slight loss in a lazy day of summer trading Tuesday.
  
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• CANADA FX DEBT-C$ firms as investors position ahead of Fed minutes, data

  18-08-2015 22:49
  (Adds strategist comment, details, closing figures) * Canadian dollar ends at C$1.3056 or 76.59 U.S. cents * Bond prices mostly lower across the maturity curve By Solarina Ho TORONTO, Aug 18...
  
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• Wall Street, Europe dip after China shares tumble

  18-08-2015 22:43 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK, Aug 18 (Reuters) - A 6 percent tumble in Chinese shares on Tuesday and soft earnings from Wal-Mart held U.S. equities in check while copper touched multi-year lows. Wal-Mart Stores Inc WMT.N fell 3.4 percent to $69.48, the biggest drag on both the Dow and S&P 500, after reporting weaker-than-expected quarterly earnings and lowering its full-year forecast. A broad measure of Asian stocks fell to a two-year low, and Wall Street traded lower as the Chinese yuan we
  
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• Wal-Mart, materials shares drag Wall St. lower

  18-08-2015 22:43 via news.yahoo.com
  
  (Reuters) - U.S. stocks fell on Tuesday, with the S&P 500 trading in its tightest daily range in nearly a month, weighed down by earnings-related selling in Wal-Mart and a drop in commodity stocks on concerns about China's economy.
  
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• GLOBAL MARKETS-Wall Street, Europe dip after China shares tumble

  18-08-2015 22:31
  NEW YORK, Aug 18 (Reuters) - A 6 percent tumble in Chinese shares on Tuesday and soft earnings from Wal-Mart held U.S. equities in check while copper touched multi-year lows.
  
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• German parliament seen backing Greek bailout despite rebellion

  18-08-2015 22:28
  BERLIN, Aug 19 (Reuters) - German lawmakers are expected to vote overwhelmingly in favour of Greece's third bailout on Wednesday, even though Chancellor Angela Merkel faces a dangerous rebellion in...
  
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• Fitch upgrades Greece to 'CCC'

  18-08-2015 22:18
  Aug 18 (Reuters) - Fitch Ratings raised foreign and local currency issuer default ratings on Greece to 'CCC' from 'CC', citing an agreement between Greece and its lenders on the framework for a third...
  
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• UPDATE 1-In Germany, 60 conservative MPs oppose Merkel course on Greece

  18-08-2015 22:10
  * But conservative minority threatens Merkel with rebellion (Adds details on vote, background.)
  
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• JPMorgan may settle with SEC on investment-steering case: WSJ

  18-08-2015 21:47 via news.yahoo.com
  
  (Reuters) - JPMorgan Chase & Co is in advanced talks with U.S. regulators to pay more than $150 million to resolve allegations that it steered private-banking clients to its own products without proper disclosures, the Wall Street Journal reported, citing people familiar with the matter.
  
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• LATAM WRAP-Peru defies sour mood on EM commodity names

  18-08-2015 21:42
  NEW YORK, Aug 18 (IFR) - Peru raised US$1.25bn in the bond market on Tuesday, breaking a month-long issuance lull in Latin America and defying negative sentiment about the region's commodity...
  
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• UPDATE 3-Peru raises US$1.25bn with 12-year bond

  18-08-2015 21:20
  NEW YORK, Aug 18 (IFR) - Peru was poised to raise US$1.25bn on Tuesday through a rare 12-year dollar bond that generated more than US$4.5bn in demand for Latin America's first sovereign issue since...
  
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• Gundlach says 'bad idea' for Fed to hike rates when junk bonds at 4-yr low

  18-08-2015 21:18
  NEW YORK, Aug 18 (Reuters) - DoubleLine Capital's co-founder Jeffrey Gundlach warned on Tuesday that it might be difficult for the U.S. Federal Reserve to raise interest rates next month, given...
  
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• Wells Fargo adding car loan branches to boost less risky lending

  18-08-2015 21:14
  
  (Reuters) - Wells Fargo is building more branches devoted to car loans and financing for auto dealers in an effort to increase its auto lending business without taking bad credit risk, the bank's...
  
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• No timing for resuming commercial travel to Cuba: U.S.

  18-08-2015 21:09 via news.yahoo.com
  
  There is no timeline for reestablishing U.S. commercial air travel to Cuba, the State Department said on Tuesday following media reports that Washington was working to begin scheduled flights between the two countries as soon as December. "We remain in contact with the Cuban government regarding the establishment of scheduled air service, which U.S. airlines say they are eager to offer to authorized travelers," the State Department said in a statement. A bill is pending in the U.S. Senate to rem
  
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• Oil rises on U.S. data; bets for stockpile drop

  18-08-2015 21:02 via news.yahoo.com
  
  By Barani Krishnan NEW YORK (Reuters) - Oil rallied on Tuesday, with U.S. crude settling up nearly 2 percent, after bullish economic data and bets for lower crude stockpiles in the United States, the world's largest oil consumer. Short-covering ahead of Thursday's expiry of the key front-month contract in U.S. crude also helped the market advance from a 6-1/2 year low hit on Friday. New York-traded U.S. crude settled up 75 cents, or 1.8 percent, at $42.62 a barrel.
  
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• UPDATE 1-Spain's FCC names Carlos Jarque of Mexico as new CEO

  18-08-2015 20:54
  MADRID, Aug 18 (Reuters) - Spanish infrastructure group FCC's board on Tuesday appointed Carlos Jarque of Mexico as chief executive, tightening compatriot and majority shareholder Carlos Slim's grip...
  
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• Wal-Mart profit misses estimates; cuts outlook as pharmacy margins bite

  18-08-2015 20:43 via news.yahoo.com
  
  The results showed how a move to lift wages and other costs have kept Wal-Mart from taking full advantage of a strengthening U.S. economy, although there was a bright spot in its report: a fourth straight quarter of same-store sales growth. Net profit attributable to Wal-Mart fell to $3.48 billion, or $1.08 per share, in the second quarter ended July 31, from $3.92 billion, or $1.21, a year earlier. Wal-Mart lowered its forecast for the year ending in January to a range of $4.40 to $4.70 from it
  
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• Brazil's OAS says received five proposals for Invepar stake

  18-08-2015 20:34
  SAO PAULO, Aug 18 (Reuters) - Brazil's OAS Investimentos
  said on Tuesday it had received five non-binding proposals for
  its stake in Invepar, which is part of the consortium that runs
  São Paulo's...
  
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• Wall Street, Europe slip after Chinese selloff

  18-08-2015 19:58 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - A 6 percent tumble in Chinese shares on Tuesday and disappointing earnings from Wal-Mart dented U.S. equities while copper and oil prices touched multi-year lows. Wal-Mart Stores Inc fell 3.2 percent to $69.63 as the biggest drag on the Dow after the major retailer reported weaker-than-expected quarterly earnings and lowered its full-year forecast. "There is no real good news that would allow this market to break out," said Rick Meckler, president of inv
  
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• Wall St., Europe dip after Chinese stocks tumble

  18-08-2015 19:58 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - A 6 percent tumble in Chinese shares on Tuesday hit Asian stocks and dented U.S. equities while copper and oil prices touched multi-year lows. A broad measure of Asian stocks fell to its lowest in two years and Wall Street traded lower as the Chinese yuan weakened against the dollar, once again triggering fears that Beijing may be intent on a deeper devaluation of the currency despite the central bank's comment that it sees no reason for a further slide.
  
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• Democratic Senator Menendez announces opposition to Iran deal

  18-08-2015 19:40 via news.yahoo.com
  
  By Sebastien Malo SOUTH ORANGE, N.J. (Reuters) - Democratic Senator Robert Menendez, in a scathing critique of the Iran nuclear deal negotiated by the Obama administration and other major powers, announced on Tuesday that he will vote to kill the pact. Speaking in his home state of New Jersey, the former chairman of the Senate Foreign Relations Committee detailed his opposition: "I will vote to disapprove the agreement and, if called upon, would vote to override a veto" by President Barack Obama
  
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• Spanish parliament approves new Greece bailout

  18-08-2015 19:17 via news.yahoo.com
  
  Spanish lawmakers Tuesday overwhelming approved Greece's third bailout package following a debate in parliament which the ruling party used to defend its economic record ahead of a year-end general election. Members of the lower house of parliament voted 297-29 in support of the 86-billion-euro (96-billion-dollar) aid package with only the tiny far-left United Left party voting against it. Spain, which received European financial aid for its ailing banks in 2012, will supply 10.15 billion euros
  
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• Target reaches agreement with Visa over data breach

  18-08-2015 19:11 via news.yahoo.com
  
  The reimbursement could run up to $67 million, the Wall Street Journal reported. The agreement comes three months after a proposed $19 million settlement between Target and Mastercard Inc fell through as not enough banks accepted the deal. The deal required the approval of banks that issued at least 90 percent of the MasterCard accounts.
  
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• Thai authorities focus on suspect seen in CCTV footage at blast site

  18-08-2015 18:29 via news.yahoo.com
  
  By Amy Sawitta Lefevre and Aukkarapon Niyomyat BANGKOK (Reuters) - Thai authorities said on Tuesday they were looking for a suspect seen on closed-circuit television (CCTV) footage near a popular shrine where a bomb blast killed 22 people, nearly half of them foreigners. The government said the attack during Monday's evening rush hour in Bangkok's commercial hub was aimed at destroying the economy. Major-General Werachon Sukhondhapatipak said there were similarities between Monday's deadly blast
  
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• Got China? Two big emerging market ETFs diverge on their exposure

  18-08-2015 18:28
  
  NEW YORK (Reuters) - The two leading exchange-traded funds focusing on emerging markets have very different exposure to now-vulnerable Chinese stocks and will probably diverge further, a new analysis...
  
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• European markets close lower after China plunge

  18-08-2015 18:27 via news.yahoo.com
  
  European stock markets closed lower Tuesday after another plunge on China's main index, and on the eve of a German parliament vote on Greece's new bailout. Investors were warily "keeping tabs on Asian markets," said Brenda Kelly, head analyst at the London Capital Group, after the Shanghai index sank 6.15 percent on broad worries over the slowing Chinese economy and the government's commitment to prop up shares.
  
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• China concerns reduce emerging market appetite to record low: BoA ML survey

  18-08-2015 18:22
  
  LONDON (Reuters) - Investors have cut their exposure to emerging markets to record low levels and increasingly expect the United States to raise interest rates in September, a survey showed on...
  
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• Spanish parliament gives green light to Greek bailout

  18-08-2015 18:18 via news.yahoo.com
  
  Spanish lawmakers voted in favor of a third bailout package for Greece on Tuesday, with the center-right government voicing misgivings about Greece's commitment to reforms but using its majority in parliament to approve the rescue. "There are serious risks, such as execution risks, given the Greek political situation," Economy Minister Luis de Guindos told parliament in a special session on the deal Greece reached with its creditors, seen as helping it stay in the euro zone. In a dig at anti-aus
  
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• US stock market cuts losses on strong housing data

  18-08-2015 18:00 via news.yahoo.com
  
  NEW YORK (AP) — U.S. markets are down slightly but off earlier lows with new data showing that the pace of new home construction is hitting levels not seen since the beginning of the recession.
  
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• Brent down as China weighs; U.S. crude up on lower stockpile bet

  18-08-2015 17:57 via news.yahoo.com
  
  Global oil benchmark Brent fell on Tuesday after an equities rout in No. 2 oil consumer China, while U.S. crude rose from a near 6-1/2 year low on bullish U.S. housing data and bets for an inventory decline. London-traded Brent (LCOc1) was down 15 cents, or 0.3 percent, at $48.59 a barrel by 11:25 a.m. EDT. Brent slipped as Chinese shares fell 6 percent, pulling Wall Street lower at the open after hitting Asian and European stocks, as well as emerging market currencies and commodities.
  
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• Housing starts near eight-year high, but permits fall

  18-08-2015 17:50 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - U.S. housing starts rose to a near eight-year high in July as builders ramped up construction of single-family homes, suggesting that the economy was firing on almost all cylinders. The Commerce Department report on Tuesday added to solid payrolls, retail sales and industrial output data in suggesting the economy got off to a strong start in the third quarter. "The Fed is likely to take further reassurance that housing is on an improving trend and this sh
  
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• Strabag eyes parts of collapsed Imtech

  18-08-2015 17:37
  VIENNA, Aug 18 (Reuters) - Austrian construction group
  Strabag SE is reviewing whether to buy parts of
  collapsed Dutch engineering services firm Royal Imtech
  , Strabag said on Tuesday.
  
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• US stock market wavers; Wal-Mart sinks

  18-08-2015 17:32 via news.yahoo.com
  
  NEW YORK (AP) — The U.S. stock market waffled in thin trading Tuesday. Wal-Mart's shares slid after cutting its earnings forecast for the year, while renewed concerns over the strength of China's economy weighed on world markets.
  
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• Iraq's economy battered by Islamic State war, low oil prices

  18-08-2015 17:18 via news.yahoo.com
  
  BAGHDAD (AP) — In business since the 1960s, Karim al-Aboudi's family has seen Iraq's economy boom with oil wealth and bust through wars and the 2003 U.S.-led invasion, but today marks the worst downturn he's seen in decades.
  
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• Wall Street, Europe dip after Chinese stocks tumble

  18-08-2015 16:55 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - A 6 percent tumble in Chinese shares on Tuesday hit Asian stocks and dented U.S. equities while copper and oil prices touched multi-year lows. A broad measure of Asian stocks fell to its lowest in two years and Wall Street traded lower as the Chinese yuan weakened against the dollar, once again triggering fears that Beijing may be intent on a deeper devaluation of the currency despite the central bank's comment that it sees no reason for a further slide.
  
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• UPDATE 2-TJX same-store sales beat estimates, shares at record high

  18-08-2015 16:40
  * Shares rise as much as 6.7 pct to all-time high (Adds analysts' comment; updates shares)
  
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• Wall Street falls as Wal-Mart results disappoints, China weighs

  18-08-2015 16:09 via news.yahoo.com
  
  Wall Street open lower on Tuesday, weighed down by a 6 percent slump in Chinese shares and Wal-Mart's weaker-than-expected quarterly results. Wal-Mart shares fell as much as 3.2 percent to a nearly 2-1/2 year low of $69.58 and were the biggest drag on the Dow Jones industrial average. Disney fell 1.1 percent to $107.86 after a Wells Fargo downgrade and weighed on the S&P 500 and the Dow.
  
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• European stocks mixed after China plunge

  18-08-2015 16:07 via news.yahoo.com
  
  European stock markets were mixed Tuesday after another plunge on China's main index, and on the eve of a German vote on Greece's new bailout. London's benchmark FTSE 100 index dipped 0.44 percent to stand at 6,521.71 points in mid-afternoon trade in the British capital. Investors were "keeping tabs on Asian markets," said Brenda Kelly, head analyst at traders London Capital Group.
  
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• Why Netflix is raising the bar for millennial parents

  18-08-2015 16:05
  
  NEW YORK (Reuters) - Millennial parents are coming to Corporate America, and companies are bracing for impact.
  
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• The high price of turning your dog into a foodie

  18-08-2015 16:03
  
  NEW YORK (Reuters) - Bay-Li, Car-Li and Hay-Li have had a rough day. After a workout on the treadmill, a dip in the pool and some personal grooming, they finish off the day with a gourmet dish of...
  
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• Wall Street opens lower as China, Wal-Mart weigh

  18-08-2015 15:36 via news.yahoo.com
  
  REUTERS - Wall Street opened lower on Tuesday following a 6 percent slump in Chinese shares and disappointing quarterly results from Wal-Mart. The Dow Jones industrial average fell 51.94 points, or 0.3 percent, to 17,493.24, the S&P 500 lost 4.09 points, or 0.19 percent, to 2,098.35 and the Nasdaq composite dropped 14.04 points, or 0.28 percent, to 5,077.66. (Reporting by Sai Sachin R in Bengaluru; Editing by Savio D'Souza)
  
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