Finance news

• Pimco Total Return assets drop below $100 billion, first time since '07

  02-09-2015 23:49
  NEW YORK (Reuters) - Pacific Investment Management Co's flagship fund dropped below $100 billion in assets for the first time in more than eight years, leaving it with about a third of the money it...
  
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• UPDATE 1-Pimco Total Return assets drop below $100 bln, first time since '07

  02-09-2015 23:48
  NEW YORK, Sept 2 (Reuters) - Pacific Investment Management Co's flagship fund dropped below $100 billion in assets for the first time in more than eight years, leaving it with about a third of the...
  
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• Obama scores policy win in securing votes for Iran nuclear deal

  02-09-2015 23:44 via news.yahoo.com
  
  By Patricia Zengerle WASHINGTON (Reuters) - U.S. President Barack Obama scored a major foreign policy victory on Wednesday by securing enough Senate votes to protect the Iran nuclear deal in Congress, but Republicans pledged to keep up their fight against the pact with new sanctions on Tehran. Democratic Senator Barbara Mikulski said she would support the deal announced on July 14 between world powers and Iran, which exchanges relief on economic sanctions for Tehran's agreeing to curtail its nuc
  
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• Presidential hopeful Rubio wants end to oil export ban, kill carbon rules

  02-09-2015 23:40 via news.yahoo.com
  
  By Valerie Volcovici WASHINGTON (Reuters) - Republican presidential candidate Marco Rubio would lift the ban on exporting crude oil soon after taking office if he is elected, the Florida senator said Wednesday in a speech previewing his energy strategy. Lifting the crude-oil export ban will be an immediate boon to our economy," Rubio told the Oklahoma Independent Petroleum Association in Oklahoma City. Rubio plans to lay out a more detailed energy agenda this autumn but in the speech h
  
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• CANADA FX DEBT-C$ softens ahead of key trade data as oil remains volatile

  02-09-2015 23:37
  (Adds analyst comment, closing figures, details) * Canadian dollar at C$1.3271, or 75.35 U.S. cents * Bond prices mostly lower across maturity curve By Solarina Ho TORONTO, Sept 2 (Reuters) - The...
  
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• GLOBAL MARKETS-Stocks rise as China fears ease; oil rebounds

  02-09-2015 23:19
  * Oil erases early losses to settle higher (Updates with U.S. market closing levels)
  
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• UPDATE 1-Illinois eyes bond sale this year despite fiscal problems

  02-09-2015 23:17
  CHICAGO, Sept 2 (Reuters) - Illinois is eyeing a return to the U.S. municipal bond market this year after an absence of more than 15 months, even as the state struggles to address its many fiscal...
  
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• India drugmaker stocks exception in Asian rout

  02-09-2015 23:10 via news.yahoo.com
  
  SINGAPORE/MUMBAI, Sept 3 (Reuters) - The double-digit stock market gains of Indian pharmaceutical giants including Dr. Reddy's Laboratories and Wockhardt stand out in stark relief to the dismal performance of other Asian emerging-market stocks this year. Continued strength in the dollar when the Federal Reserve raises interest rates will also boost their income. More than 40 percent of over-the-counter and generic prescription drugs sold in the United States come from India.
  
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• US stocks rebound on tech rally; S&P +1.8%

  02-09-2015 22:42 via news.yahoo.com
  
  US shares put on a solid rally Wednesday, with investors piling back into blue chips and especially tech stocks as a Federal Reserve report depicted steady US economic growth. While worries over China's economy persist -- and the market did not make up Tuesday's three percent plunge -- Wall Street investors appeared to decide that the selloff had gone too far. The broader S&P 500 gained 35.01 (1.83 percent) at 1,948.86, while the Nasdaq Composite added 113.87 (2.46 percent) at 4,749.98.
  
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• Fed report shows autos and housing fueling US growth

  02-09-2015 22:30 via news.yahoo.com
  
  WASHINGTON (AP) — While U.S. housing and auto sales showed strength over the summer, manufacturers were feeling pressure from China's economic slowdown and the oil industry was squeezed by lower energy prices.
  
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• UPDATE 2-Coal divestment bill passes California state legislature

  02-09-2015 22:26
  SAN FRANCISCO, Sept 2 (Reuters) - A bill requiring California's state pension funds Calpers and CalSTRS to sell their investments in coal companies passed the Assembly on Wednesday, a major step for...
  
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• TREASURIES-Prices slip on risk appetite, possible central bank selling

  02-09-2015 22:25
  * Possible foreign central bank selling weighs on 30-year prices
  
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• LATAM WRAP-Terrafina preps bond sale in unsteady market

  02-09-2015 22:25
  NEW YORK, Sept 2 (IFR) - Mexican REIT Terrafina may be the first Latin American borrower out of the gate in September as it prepares to raise US$400m-US$500m through a debut in the US dollar bond...
  
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• BNY Mellon pricing snafu highlights bank's fragmented technology

  02-09-2015 22:24
  
  BOSTON (Reuters) - BNY Mellon Corp's recent high-profile computer glitch has highlighted how reliant the bank is on a patchwork of in-house and third-party technology platforms despite a pledge by...
  
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• Wall Street surges as turbulence becomes the norm

  02-09-2015 22:23 via news.yahoo.com
  
  U.S. investors have weathered over two weeks of unusually wide-swinging trade that has left the S&P 500 with its worst monthly drop in three years and a loss of 8.5 percent from an all-time high in May. It's market volatility, it's nervousness, it's an inability to call the direction of the market," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. U.S. labor markets were tight enough to fuel small wage gains in some professions in recent weeks, th
  
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• Pimco fund posts $1.8 bln net outflows in August, down from $2.5 bln net outflows in July

  02-09-2015 22:15
  NEW YORK, Sept 2 (Reuters) - Investors pulled $1.8 billion in assets from Pacific Investment Management Co's flagship fund in August, down from $2.5 billion the previous month, in another sign Pimco...
  
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• Wall St. up as investors weigh China, U.S. rate hike

  02-09-2015 22:08 via news.yahoo.com
  
  (Reuters) - Wall Street rose on Wednesday in a volatile session as investors weighed the impact of a stumbling Chinese economy and global market turmoil on the U.S. Federal Reserve's impending decision about when to raise interest rates. The Dow Jones industrial average rose 293.9 points, or 1.83 percent, to 16,352.25, the S&P 500 gained 35.05 points, or 1.83 percent, to 1,948.9 and the Nasdaq Composite added 113.87 points, or 2.46 percent, to 4,749.98. (Reporting By Sinead Carew; Editing by
  
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• EMERGING MARKETS-Brazil currency hits 2002 low on budget jitters

  02-09-2015 22:06
  SAO PAULO, Sept 2 (Reuters) - Brazil's currency tumbled to its weakest level since 2002 on Wednesday as expectations of a growing fiscal deficit fed fears that the country would lose its...
  
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• Forget Wall St. analysis, mine Twitter for trades

  02-09-2015 22:01
  NEW YORK (Reuters) - Investors might want to put aside all that Wall Street research and instead turn their eyes to Twitter.
  
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• UPDATE 1-Taberna Capital pays $21.5 mln to settle U.S. SEC charges

  02-09-2015 21:43
  Sept 2 (Reuters) - A Philadelphia investment advisory firm has agreed to pay $21.5 million to settle U.S. Securities and Exchange Commission civil charges that it fraudulently retained fees belonging...
  
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• Merkel's conservatives want to limit incentives for refugees: paper

  02-09-2015 21:34 via news.yahoo.com
  
  German Chancellor Angela Merkel's conservatives want to limit the financial incentives for refugees coming to the country as their numbers soar, a paper showed on Wednesday, underlining the strain the crisis is putting on Europe's largest economy. With relatively liberal asylum laws and generous benefits, Germany is the EU's biggest recipient of people fleeing war in the Middle East and economic migrants from southeastern Europe. A record 104,460 asylum seekers entered the country in August, and
  
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• Oil turns higher as Wall Street rally offsets inventory rise

  02-09-2015 21:29 via news.yahoo.com
  
  By Robert Gibbons NEW YORK (Reuters) - Oil prices ended nearly 2 percent higher on Wednesday in volatile trade as rallying equities on Wall Street pulled crude up from lows after futures sank on concerns about global oversupply. "Looks like risk-on trade with a rising tide lifting all boats," John Kilduff, partner at Again Capital LLC in New York, said. Also providing lift was a rally in Canadian synthetic crude prices.
  
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• Presidential hopeful Rubio wants end to oil export ban, carbon rules

  02-09-2015 21:22 via news.yahoo.com
  
  By Valerie Volcovici WASHINGTON (Reuters) - Republican presidential candidate Marco Rubio would lift the ban on exporting crude oil soon after taking office if he is elected, the Florida senator said Wednesday in a speech previewing his energy strategy. Lifting the crude-oil export ban will be an immediate boon to our economy," Rubio told the Oklahoma Independent Petroleum Association in Oklahoma City. Rubio plans to lay out a more detailed energy agenda this autumn but in the speech h
  
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• US bank earnings rose 7.3 percent in April-June quarter

  02-09-2015 21:10 via news.yahoo.com
  
  WASHINGTON (AP) — U.S. banks' earnings jumped 7.3 percent in the April-June period from a year earlier as revenues increased and the volume of soured loans banks had to write off fell to the lowest level since before the financial crisis.
  
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• Coal divestment bill passes California state legislature

  02-09-2015 20:57
  SAN FRANCISCO, Sept 2 (Reuters) - A bill requiring California's two largest retirement systems to sell their investments in coal companies passed the state Assembly on Wednesday, a significant step...
  
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• Taberna Capital pays $21.5 mln to settle U.S. SEC charges

  02-09-2015 20:54
  Sept 2 (Reuters) - A Philadelphia investment advisory firm has agreed to pay $21.5 million to settle U.S. Securities and Exchange Commission civil charges that it fraudulently retained fees belonging...
  
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• Puerto Rico Governor Garcia Padilla comments on PREPA deal

  02-09-2015 20:54
  Sept 2 (Reuters) - Puerto Rico Governor Alejandro García Padilla said Wednesday that he hopes the agreement between Puerto Rico Electric Power Authority and a group of its bondholders represent the...
  
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• Wall Street shares up after U.S. data, technology sector leads

  02-09-2015 20:50 via news.yahoo.com
  
  U.S. stocks were up more than 1 percent on Wednesday afternoon supported by U.S. data and technology stocks led a rebound from Tuesday's steep losses. The market briefly hit a session high after the Federal Reserve Beige Book report said U.S. labour markets were tight enough to fuel small wage gains in some professions in recent weeks, though some companies were already feeling a chill from an economic slowdown in China. Chinese stocks moved off steep losses to end almost flat on Wednesday as Ch
  
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• Wall St. shares up after U.S. data, technology sector leads

  02-09-2015 20:49 via news.yahoo.com
  
  U.S. stocks were up more than 1 percent on Wednesday afternoon supported by U.S. data and technology stocks led a rebound from Tuesday's steep losses. The market briefly hit a session high after the Federal Reserve Beige Book report said U.S. labor markets were tight enough to fuel small wage gains in some professions in recent weeks, though some companies were already feeling a chill from an economic slowdown in China. Chinese stocks moved off steep losses to end almost flat on Wednesday as Chi
  
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• Venezuela announces $5-bn Chinese loan for oil sector

  02-09-2015 20:42 via news.yahoo.com
  
  Venezuelan President Nicolas Maduro announced China has granted his government a $5-billion loan to boost oil output in the recession-hit OPEC state. "We have signed a special program for a $5-billion loan to progressively increase oil production in the coming months," Maduro said on state television Tuesday night in a broadcast from China, where he is on a visit seeking support for Venezuela's sinking economy. The two countries will negotiate "joint projects in the areas of reconnecting oil wel
  
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• REFILE-COLUMN-Four reasons not to give up on Brazil

  02-09-2015 20:38
  Sept 1 (Reuters) - Brazil is enduring one of its most acute crises since the return of democracy in the 1980s. Amid a sharp economic downturn, the combination of growing popular discontent and a...
  
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• Illinois eyes bond sale this year, hires debt director

  02-09-2015 20:23
  CHICAGO, Sept 2 (Reuters) - Illinois is eyeing a return to the U.S. municipal bond market this year after an absence of more than 15 months, even as the state struggles to address its many fiscal...
  
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• Tight U.S. labor markets fuel wage gains; China impact looms: Fed

  02-09-2015 20:19 via news.yahoo.com
  
  U.S. labor markets were tight enough to fuel small wage gains in some professions in recent weeks, though some companies already were feeling a chill from an economic slowdown in China, the Federal Reserve said on Wednesday. Overall, U.S. economic activity continued to expand across most regions and sectors from July to mid-August, the Fed said in its Beige Book report of anecdotal information on business activity collected from contacts nationwide. The combination of a healing labor market and
  
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• GLOBAL MARKETS-Stocks rise as China fears ease; oil recovers

  02-09-2015 20:13
  * Oil erases earlier losses to trade flat (Updates with new quote, European shares closing up)
  
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• Nearly half of hotel rooms in North Dakota oil capital sit empty

  02-09-2015 20:00 via news.yahoo.com
  
  By Ernest Scheyder WILLISTON, N.D. (Reuters) - Nearly half of the hotel rooms in the epicenter of North Dakota's energy boom have been sitting empty this year, yet another sign that plunging oil prices have cooled the economy of the second-largest crude producing U.S. state. Producers, oilfield service providers and other energy companies across the state's western oil patch have cut employee hours, canceled projects and laid off staff, all hoping to weather the low-price storm. When prices star
  
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• Fed report finds economy growing at moderate pace in summer

  02-09-2015 20:00 via news.yahoo.com
  
  WASHINGTON (AP) — The Federal Reserve's latest look at business conditions nationwide finds that the economy kept expanding during the summer. Housing and auto sales were two bright spots.
  
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• Gundlach's DoubleLine Funds posts 19th month of inflows in August

  02-09-2015 19:54
  NEW YORK (Reuters) - DoubleLine Funds, whose co-founder Jeffrey Gundlach is widely followed for his investment calls, on Wednesday reported $1.08 billion in net additional investments in August, the...
  
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• German new car sales up in August

  02-09-2015 19:21 via news.yahoo.com
  
  New car registrations in Germany, a key measure of demand in one of the most important sectors of Europe's top economy, rose in August, data showed on Wednesday. A total of 226,300 new cars were registered last month, an increase of 6.2 percent compared with the figure for the same month last year, according to data compiled by the federal transport office KBA and released by the VDIK carmakers' federation.
  
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• Millions strike in India to protest against Modi's labor reforms

  02-09-2015 19:08 via news.yahoo.com
  
  By Sujoy Dhar KOLKATA, India (Reuters) - Protesters wielding Communist flags clashed with police in Kolkata on Wednesday as millions of workers across India went on strike, the latest display of opposition to Prime Minister Narendra Modi's economic reform package. Modi's plan for reviving India's slowing economy has met with fierce protest and Wednesday's strike came days after the premier abandoned a pro-industry land reform which the opposition had said would hurt India's farmers. Unions calle
  
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• Tech stocks lead Wall Street higher as China fears ebb

  02-09-2015 19:06 via news.yahoo.com
  
  (Reuters) - U.S. stocks were higher in late morning trading on Wednesday, rebounding from steep losses a day earlier, after China intervened to support its financial markets and help stem a global equities selloff.
  
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• Global stock markets experience renewed volatility

  02-09-2015 18:48 via news.yahoo.com
  
  Global stock markets faced renewed volatility Wednesday, as further evidence of slowing growth in China caused investors to question the prospects for continued global economic expansion. At the end of trade in Europe, London, Paris and Frankfurt similarly finished higher after see-sawing earlier in the day. Adding to tensions are uncertainties about whether the US Federal Reserve will raise interest rates at a policy meeting this month.
  
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• US markets recover a day after big plunge

  02-09-2015 18:21 via news.yahoo.com
  
  NEW YORK (AP) — U.S. and global stock markets were recovering in midday trading Wednesday after a sharp sell-off a day earlier. Investors remain on edge after the latest market plunge, which was triggered by more signs of slowing growth in China.
  
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• FTSE closes positive, follows Wall Street gains

  02-09-2015 18:16 via news.yahoo.com
  
  By Kit Rees and Alistair Smout LONDON (Reuters) - Britain's leading share index ended higher on Wednesday, buoyed by results from industrial equipment hire group Ashtead and by opening gains on Wall Street [.N]. The FTSE 100 closed up at 24.77 points, or 0.4 percent, at 6,083.31, broadly in line with European indexes and Wall Street. Stocks were more upbeat as investors bet that the U.S. Federal Reserve might delay a much-anticipated rate hike and took comfort from the latest Chinese moves to ca
  
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• Britain's FTSE closes positive, follows Wall Street gains

  02-09-2015 18:16 via news.yahoo.com
  
  Britain's leading share index ended higher on Wednesday, buoyed by results from industrial equipment hire group Ashtead and by opening gains on Wall Street. The FTSE 100 closed up at 24.77 points, or 0.4 ...
  
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• US bank earnings rose 7.3 percent in 1st quarter

  02-09-2015 18:09 via news.yahoo.com
  
  WASHINGTON (AP) — U.S. banks' earnings jumped 7.3 percent in the April-June period from a year earlier as revenues increased and the volume of soured loans banks had to write off fell to the lowest level since before the financial crisis.
  
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• Q&A: What are the signs of a 'bear market' for stocks

  02-09-2015 17:41 via news.yahoo.com
  
  The stock market's sharp downturn in recent weeks has pulled the three major U.S. stock indexes into what is known as a "correction." But when does a market correction effectively end a bull market and usher in a full-blown bear market?
  
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• Presidential hopeful Rubio wants to lift 'outdated' oil export ban

  02-09-2015 17:28 via news.yahoo.com
  
  Republican presidential candidate Marco Rubio would lift the ban on exporting crude oil soon after taking office if he is elected, the Florida senator will say Wednesday in a speech previewing his energy strategy. Lifting the crude-oil export ban will be an immediate boon to our economy," Rubio will say, according to excerpts of his speech to the Oklahoma Independent Petroleum Association released by his campaign. Rubio plans to lay out a more detailed energy agenda this autumn but wil
  
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• US markets recover modestly a day after big plunge

  02-09-2015 17:22 via news.yahoo.com
  
  NEW YORK (AP) — U.S. and global stock markets were recovering in late morning trading Wednesday after a sharp sell-off a day earlier. Investors remain on edge after the latest market plunge, which was triggered by more signs of slowing growth in China.
  
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• Oil falls on large U.S. crude stocks

  02-09-2015 17:02 via news.yahoo.com
  
  By Lisa Barrington LONDON (Reuters) - Oil prices fell on Wednesday after U.S. government data showed a big rise in crude oil stocks, adding to concerns about global oversupply and sluggish economic growth in China. U.S. crude oil stocks rose by 4.67 million barrels to 455.43 million barrels in the week to Aug. 28, the Energy Information Administration (EIA) said on Wednesday. Analysts in a Reuters poll had expected U.S. crude stocks to have remained flat last week.
  
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• Boat with 40 African migrants arrives on Spanish island

  02-09-2015 17:00 via news.yahoo.com
  
  The Spanish Canary Islands off the Moroccan coast were a key route around 10 years ago for migrants from Africa trying to reach Europe, but their numbers fell after Spain increased patrolling. Europe is in crisis as hundreds of thousands of refugees fleeing war and economic migrants escaping poverty are arriving on the continent, crossing the Mediterranean on unsafe boats and over land across the Balkan peninsula. Migrants arriving in Gran Canaria, a popular holiday destination, have in the past
  
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