Finance news

• Exclusive - Carlyle looks to sell Landmark Aviation for $1.7 billion - sources

  28-08-2015 23:58 via news.yahoo.com
  
  Carlyle Group LP has been exploring a sale of aircraft leasing and maintenance company Landmark Aviation for as much as $1.7 billion (1 billion pounds), according to people familiar with the matter. Carlyle initially looked at selling Landmark via a stock market listing but in the past few months has broadened out that process to include a possible outright sale. Two of the sources said that Landmark Aviation's earnings before interest, taxes, depreciation and amortisation (EBITDA)were around $1
  
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• Calm on Wall Street: A turbulent week ends on a placid note

  28-08-2015 23:49 via news.yahoo.com
  
  Well, that was exciting.
  
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• Unions set sights on e-commerce and manufacturing firms after NLRB ruling

  28-08-2015 23:24 via news.yahoo.com
  
  U.S. union leaders said on Friday that a landmark U.S. labor board ruling on companies' obligations toward contract and franchise workers would help them organize manufacturers and e-commerce companies as well as fast food chains. On Thursday the National Labor Relations Board (NLRB) ruled the owner of a California recycling plant was a "joint employer" with the contractor that hired workers at the plant, essentially forcing both to bargain with the union together. Business groups, arguing that
  
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• Wall Street ends flat in quiet end to dramatic week

  28-08-2015 23:23 via news.yahoo.com
  
  By Noel Randewich Aug 28 (Reuters) - Wall Street ended a tumultuous week with a flat close on Friday as investors shrugged off concerns that a September rate rise was more likely than some investors expected. Shares traded lower earlier in the session after Fed Vice Chairman Stanley Fischer told CNBC the Fed had not yet decided whether to raise interest rates in September. After several volatile sessions that at one point pushed the S&P 500 to its lowest level since October 2014, the three m
  
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• Fed should consider rate hike at any of next three meetings -Lockhart

  28-08-2015 23:01
  WASHINGTON, Aug 28 (Reuters) - The Federal Reserve should consider each of its three remaining policy meetings this year as possible times for it to raise interest rates, a key Fed policymaker said...
  
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• Wisconsin plans $391 mln GO sale for next week

  28-08-2015 22:54
  SAN FRANCISCO, Aug 28 (Reuters) - Wisconsin will come to the market with $391.3 million of general obligation bonds on Sept. 1, one of the largest deals during a week of significantly lower issuance...
  
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• Wild week for markets ends quietly

  28-08-2015 22:44 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - A volatile ride for global markets this week ended calmly on Friday even as lingering worries over Chinese economic growth and the Federal Reserve's plans to raise interest rates weighed on stocks, but oil rebounded sharply for a second day. U.S. crude jumped more than 6 percent as a rally in gasoline prices and air raids in Yemen forced traders to scramble to cover short positions. The Fed is waiting to see how data and markets unfold over the coming weeks b
  
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• GLOBAL MARKETS-Wild week for markets ends quietly

  28-08-2015 22:44
  * U.S. dollar rises on economic outlook as calm returns (Adds close of U.S. markets)
  
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• Fed vice chair in spotlight as markets seek rate hike clues

  28-08-2015 22:38 via news.yahoo.com
  
  WASHINGTON (AP) — What once seemed a sure bet — that the Federal Reserve would raise interest rates in September — suddenly appears less certain following a wild week of stock market turbulence.
  
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• Dow ends choppy day slightly lower; Nasdaq gains

  28-08-2015 22:34 via news.yahoo.com
  
  US stocks ended a rocky week on a muted note Friday, with the Dow dipping and Nasdaq advancing as fears about a global economic slowdown due to China tested sentiment. The Dow Jones Industrial Average shed 11.76 points (0.07 percent) at 16,643.01. The broad-based S&P 500 added 1.21 (0.06 percent) at 1,988.87, while the tech-rich Nasdaq Composite Index gained 15.62 (0.32 percent) at 4,828.32.
  
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• Manufacturers in Argentina starved of dollars ahead of election, hurting output

  28-08-2015 22:32 via news.yahoo.com
  
  By Eliana Raszewski BUENOS AIRES (Reuters) - Argentina's central bank is reducing the supply of scarce dollars to manufacturers two months ahead of a presidential election to ensure more are available for the nation’s savers, hampering the import of parts and disrupting factory production lines. Tough capital controls mean importers operating in Latin America's No. 3 economy are restricted to how many dollars they can buy each month, while savers have to apply to the tax agency to purchase
  
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• Wall St. ends flat as investors gauge Fed

  28-08-2015 22:23 via news.yahoo.com
  
  NEW YORK (Reuters) - Wall Street ended near flat on Friday after comments by a top Federal Reserve official suggested that a September rate rise was more likely than some investors expected. The Dow Jones industrial average fell 12.3 points, or 0.07 percent, to 16,642.47, the S&P 500 gained 1.14 points, or 0.06 percent, to 1,988.8 and the Nasdaq Composite added 15.62 points, or 0.32 percent, to 4,828.33. (Reporting by Chuck Mikolajczak; Editing by Chizu Nomiyama)
  
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• TREASURIES-U.S. bonds fall as Fed's Fischer leaves door open for rate hike

  28-08-2015 21:54
  * Most U.S. yields post biggest weekly rise in nine weeks * Fed's Fischer: don't need overwhelming case for rate hike * Data support notion of modest U.S. growth, low inflation * Doubts about China...
  
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• Speculators slash long U.S. dollar bets to lowest since mid-June -CFTC, Reuters

  28-08-2015 21:48
  Aug 28 (Reuters) - Speculators pared back bullish bets on the U.S. dollar in the latest week to their smallest in more than two months, according to Reuters calculations and data from the Commodity...
  
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• Speculators' U.S. 10-year T-note futures net longs fall-CFTC

  28-08-2015 21:39
  Aug 28 (Reuters) - Speculators' net bullish bets on U.S. 10-year Treasury note futures fell for a second straight week to its lowest in six weeks after China cut interest rates to help stabilize its...
  
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• Wall Street a little lower in calm after the storm

  28-08-2015 21:38 via news.yahoo.com
  
  Markets were their least volatile in a over a week after recent sessions saw the S&P 500 plummet 11 percent before rebounding sharply. Stocks moved lower after Fed Vice Chairman Stanley Fischer told CNBC the Fed had not yet decided whether to raise interest rates in September. Many on Wall Street have hoped the recent global market turbulence and worries about China's economy would lead the Fed to hold off raising rates, an expectation reinforced by comments on Wednesday from New York Fed Pr
  
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• Scotiabank energy-sector bad loans climb; profit tops estimates

  28-08-2015 21:31
  
  TORONTO (Reuters) - Bank of Nova Scotia, which reported a quarterly profit that beat market expectations on Friday, said bad loans in the energy sector climbed as the oil price selloff took a...
  
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• UPDATE 3-Scotiabank energy-sector bad loans climb; profit tops estimates

  28-08-2015 21:30
  TORONTO, Aug 28 (Reuters) - Bank of Nova Scotia, which reported a quarterly profit that beat market expectations on Friday, said bad loans in the energy sector climbed as the oil price selloff took a...
  
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• New Turkish cabinet includes opposition, but little policy change seen

  28-08-2015 21:24 via news.yahoo.com
  
  By Gulsen Solaker and Orhan Coskun ANKARA (Reuters) - Turkish Prime Minister Ahmet Davutoglu appointed nationalist and pro-Kurdish opposition politicians to an interim power-sharing cabinet on Friday, but left his finance and economy ministers unchanged in a team dominated by ruling party loyalists. Davutoglu was forced to form the temporary cabinet after his AK Party failed to find a junior coalition partner following the loss of its parliamentary majority in a June election which ended more th
  
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• US oil rallies second day; WTI up 6.3%

  28-08-2015 21:04 via news.yahoo.com
  
  On Thursday WTI prices rocketed 10.3 percent, rebounding from more than six-year lows. "It's just incredible," said Phil Flynn of Price Futures Group. When oil prices went below $40 a barrel, that was a signal people thought that because of China, the global economy was going to grind to a halt," he said.
  
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• Traders see over 50 percent chance on October rate hike

  28-08-2015 21:00
  
  NEW YORK (Reuters) - Traders priced in a more than 1-in-2 chance the U.S. Federal Reserve would raise interest rates in October after Atlanta Federal Reserve President Dennis Lockhart suggested the...
  
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• Switzerland dodges recession with 0.2% growth

  28-08-2015 20:55 via news.yahoo.com
  
  Switzerland's economy expanded by 0.2 percent in the second quarter of this year, the economic affairs ministry said Friday, allowing the country to dodge a recession. The meagre growth from the first quarter came after the Swiss economy contracted by 0.2 percent during the first three months of the year, which had left many analysts forecasting that the wealthy Alpine nation would slip into recession. The GDP growth can especially be attributed to a steep drop in imports.
  
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• French Socialists see reason to hope with Greens in turmoil

  28-08-2015 20:50 via news.yahoo.com
  
  By Ingrid Melander LA ROCHELLE, France (Reuters) - French Socialists welcomed a decision by two senior Green lawmakers to split away and create a new movement to support them, saying on Friday it would strengthen the Left's hand in regional and presidential elections. The extra support could be key for Socialist President Francois Hollande's chances to get re-elected in 2017 as well as for regional elections in December. The Greens were a junior ally in Hollande's government until they decided l
  
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• Commodities slump on China crisis

  28-08-2015 20:17 via news.yahoo.com
  
  Many commodities faced a fierce sell-off earlier this week, rooted in demand fears arising from China's slowdown, but later rebounded in line with equities after surprisingly strong US growth data. World stock markets were hammered on Black Monday -- with Shanghai collapsing by almost 8.50 percent -- as risk-averse investors dumped shares and many commodities over panic that the flagging Chinese economy could spark a new world recession. Base or industrial metals were among the hardest hit, with
  
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• Nationalist and pro-Kurdish opposition given Turkish cabinet posts

  28-08-2015 20:12 via news.yahoo.com
  
  ANKARA (Reuters) - Turkish Prime Minister Ahmet Davutoglu named an interim power-sharing cabinet on Friday, appointing one nationalist and two pro-Kurdish opposition politicians to ministerial posts, but leaving his finance and economy ministers unchanged. Tugrul Turkes, son of the founder of the nationalist opposition MHP, was named as one of four deputy prime ministers. Ali Haydar Konca and Muslum Dogan, members of the pro-Kurdish HDP, were named EU minister and development minister respective
  
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• Wall St. slips as investors assess volatile week

  28-08-2015 20:09 via news.yahoo.com
  
  Fed Vice Chairman Stanley Fischer said the United States was heading in the direction of higher rates and that recent economic data had been impressive. Fischer also said the Fed could not wait for the case to be overwhelming to increase rates and that the recent market volatility could settle quickly. Following Fischer's comments, overnight indexed swap rates implied traders now see a 35 percent chance the Fed would raise rates in September, up from 22 percent earlier in the week.
  
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• Fed's Fischer: 'haven't made decision yet' on rate rise 

  28-08-2015 19:12 via news.yahoo.com
  
  Federal Reserve Vice Chair Stanley Fischer said Friday that no decision had been made yet on raising interest rates at the US central bank's September 16-17 policy meeting. Fischer told CNBC television in an interview that while the US economy remains strong, it was "too early to tell" whether the markets turmoil sparked by China has lessened the argument for a long-expected increase in the federal funds rate.
  
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• Fed hawks acknowledge market turmoil may delay rate hike

  28-08-2015 18:50 via news.yahoo.com
  
  Federal Reserve officials who are most anxious to hike interest rates said on Friday that continued turmoil in financial markets may cause the central bank to delay tightening monetary policy beyond next month, even though the U.S. economy remains strong. St. Louis Fed President James Bullard told Reuters he still favored hiking rates at the Fed's next policy-setting meeting in mid-September, though he added that his colleagues would be hesitant to do so if global markets were volatile at that t
  
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• Angry Birds maker's float seen less likely despite mobile games growth

  28-08-2015 18:45 via news.yahoo.com
  
  By Liisa Tuhkanen LONDON (Reuters) - The often touted but regularly delayed stock-market listing of Rovio, creator of the hugely popular "Angry Birds" mobile game, could be even more distant after this week's warning of lower earnings and a planned cull of more than a third of its staff. While the mobile games market as a whole is thriving and looks set to grow to more than $35 billion in 2017, according to research firm Newzoo, Rovio's woes typify the difficulty established players have in chan
  
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• Wall Street slips after Fischer's remarks

  28-08-2015 18:33 via news.yahoo.com
  
  Fed Vice Chairman Stanley Fischer said the United States was heading in the direction of higher rates and that recent economic data had been impressive. While Fischer said he had made no decision on a September rate hike, he added that the Fed could not wait for the case to be overwhelming to increase rates and that the recent market volatility could settle quickly. Stocks were mixed before Fischer's comments on CNBC, with investors wary of taking big positions into the weekend after days of tum
  
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• Moody's cuts 2016 global growth forecasts

  28-08-2015 18:28 via news.yahoo.com
  
  Credit rating firm Moody's cut its 2016 global economic growth forecasts on Friday, with China and United States both trimmed and Russia and Brazil seen staying in recession. China, Japan and Korea's growth saw downgrades partly due to expectations of more muted exports. "The (China) policy stimulus measures that have been implemented have been broader-ranging and larger than we had expected.
  
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• Oil plunge deepens high-yield gloom

  28-08-2015 18:25
  NEW YORK, Aug 28 (IFR) - US crude fell to a more than
  six-year low this week, clouding the picture for a high-yield
  energy sector that already faces a significant cull when credit
  lines are...
  
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• Fed vice chair indicates September rate hike still possible

  28-08-2015 18:10 via news.yahoo.com
  
  WASHINGTON (AP) — Federal Reserve Vice Chairman Stanley Fischer says that incoming economic data and market developments will likely determine whether the Fed boosts interest rates in September.
  
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• South African stocks end turbulent week over 2 percent higher

  28-08-2015 17:59 via news.yahoo.com
  
  South African stocks ended a volatile week, punctuated by fears about China-led global economic slowdown, with their biggest weekly gain in four months. The equity market kicked off the week with hefty losses, tracking similar drops elsewhere in the world on worries about China, before staging a recovery that helped it notch up the biggest weekly gain since April. "I don't think concerns about growth in China are overstated but I think the market over-reacted," said Desmond Reilly, a portfolio m
  
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• Autos lift U.S. consumer spending; sentiment slips

  28-08-2015 17:49 via news.yahoo.com
  
  U.S. consumer spending rose in July as households stepped up automobile purchases, offering further evidence of strength in the economy that could keep the door open to a Federal Reserve interest rate hike this year. While other data on Friday showed consumer sentiment dipped in August, likely as households fretted over a recent stock market sell-off, confidence remained at levels consistent with solid consumer spending growth. The Commerce Department said consumer spending, which accounts for m
  
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• Wall Street mixed as investors wary after wild week

  28-08-2015 17:37 via news.yahoo.com
  
  (Reuters) - U.S. stocks were mixed on Friday as investors were wary of taking big positions into the weekend after days of tumultuous trading that featured both the market's worst day in four years and biggest two-day gain since the financial crisis.
  
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• Wild week for markets set to end quietly

  28-08-2015 17:34 via news.yahoo.com
  
  A white-knuckle ride for global markets this week looked set to end with a whimper on Friday as lingering worries over Chinese economic growth and the Federal Reserve's plans to raise interest rates weighed on stocks, but oil rebounded on a strengthening U.S. economy. The market turmoil should not delay the Fed from raising interest rates at least once, as the global equities rout and China's slowdown have had little effect on the U.S. economy, St. Louis Fed President James Bullard told Reuters
  
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• U.S. economy seen growing 1.2 percent in third quarter: Atlanta Fed

  28-08-2015 17:29 via news.yahoo.com
  
  The U.S. economy is on track to grow 1.2 percent in the third quarter on data showing a decline in consumer spending on services in July, the Atlanta Federal Reserve's GDPNow forecast model showed on Friday. This was weaker than the regional Fed bank's prior estimate on Wednesday of a 1.4 percent rise in gross domestic product, the Atlanta Fed said on its website. The Atlanta Fed said the weakness in real services consumption last month reduced its estimate on personal consumption expenditures t
  
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• Factbox: 30 U.S. senators now support Iran nuclear deal

  28-08-2015 17:27 via news.yahoo.com
  
  (Reuters) - Another U.S. Democratic senator said on Friday he would support the U.S.-led nuclear agreement with Iran, moving President Barack Obama a step closer to having sufficient backing to ensure the deal stands. Tom Carper backed the deal negotiated by the United States and other world powers that would put new limits on Iran's nuclear program in exchange for eased economic sanctions. Obama is trying to muster 34 votes in the Senate to ensure lawmakers cannot kill the deal.
  
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• Oil hits $45 US, pulling TSX higher

  28-08-2015 17:26 via news.yahoo.com
  
  Oil resumed its rapid climb on Friday, punching through $45 US a barrel and giving a boost to the Toronto stock market. West Texas Intermediate, the most important North American futures contract, was up 7.1 per cent at midday at $45.58 US a barrel. Investors were cheered by oil's rapid recovery and bought up Canadian energy stocks, pushing the TSX up 60 points at 13,826.
  
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• BNY Mellon glitch roiled pricing on U.S. funds with $404 billion in assets

  28-08-2015 17:25
  
  (Reuters) - BNY Mellon Corp's computer glitch this week has disrupted pricing on nearly 5 percent of U.S. mutual funds and exchange-traded funds with about $404 billion in assets, according to data...
  
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• Schwab says online access for customers restored

  28-08-2015 16:54
  
  (Reuters) - Charles Schwab Corp said that customer access to online accounts was restored on Friday morning, just minutes before U.S. stock markets opened for trading.
  
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• Global stocks mixed after torrid week

  28-08-2015 16:52 via news.yahoo.com
  
  European and US markets stumbled Friday at the end of a rocky week plagued by worries over China's slowdown, after Asia stocks rallied on the strength of US economy. Global equities were hammered on Black Monday as risk-averse investors dumped shares on spreading panic that the flagging Chinese economy could spark a new world recession. "After a hectic rollercoaster of a week across financial markets... the moves by the PBoC and the better-than-expected US GDP have revived risk-taking to a degre
  
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• China fears linger as focus on Fed sharpens

  28-08-2015 16:48 via news.yahoo.com
  
  Fears over the health of China's economy kept world markets on edge this week and the country will remain in focus, along with the question of whether the Federal Reserve will raise interest rates next month. "China, the epicenter of the week's moves, is set to remain in focus over the next week as markets attempt to assess whether the worst of the sell-off has been seen," said Philip Shaw, chief economist at Investec.
  
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• UPDATE 1-Brazil primary budget gap widens in July, threatens fiscal goal

  28-08-2015 16:16
  BRASILIA, Aug 28 (Reuters) - Brazil's primary budget deficit widened more than expected in July, central bank data showed on Monday, threatening government efforts to eke out at least a small surplus...
  
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• US dip as volatile week winds down

  28-08-2015 16:08 via news.yahoo.com
  
  New York (AFP) - Wall Street stocks dipped in early trade Friday as the US market clung to its gains for the week after rocky trade prompted by fears about the Chinese economy.
  
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• UPDATE 2-Schwab says online access for customers restored

  28-08-2015 16:04
  Aug 28 (Reuters) - Charles Schwab Corp said that customer access to online accounts was restored on Friday morning, just minutes before U.S. stock markets opened for trading.
  
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• Fed officials pushing for rate hike unfazed by market turmoil

  28-08-2015 16:04 via news.yahoo.com
  
  Recent market turmoil should not delay the Federal Reserve from raising interest rates at least once, given that the global equities selloff and China's economic slowdown have had little effect on the U.S. economy, a top Fed official said on Friday. St. Louis Fed President James Bullard told Reuters he still favored hiking rates at the Fed's next policy-setting meeting in mid-September, though he added the U.S. central bank would be hesitant to do so if markets were still volatile at that time.
  
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• Wall Street opens lower as investors wary after hectic week

  28-08-2015 16:02 via news.yahoo.com
  
  "A lot of investors are looking for markets to calm down and are rebalancing their portfolios before going into the weekend," said Jeff Carbone, co-founder and managing partner of Cornerstone Financial Partners.
  
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• UPDATE 2-Fed officials pushing for rate hike unfazed by market turmoil

  28-08-2015 16:00
  JACKSON HOLE, Wyo., Aug 28 (Reuters) - Recent market turmoil should not delay the Federal Reserve from raising interest rates at least once, given that the global equities selloff and China's...
  
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