Finance news

• Robbins' Glenview Capital down 5.5 percent in August: source

  09-09-2015 23:24
  
  BOSTON (Reuters) - Hedge fund billionaire Larry Robbins's Glenview Capital lost 5.5 percent in August, leaving the fund down 2.8 percent for the year to date, an investor in the fund said on...
  
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• Jeb Bush says tax code overhaul will boost economy

  09-09-2015 22:59 via news.yahoo.com
  
  GARNER, N.C. (AP) — Republican presidential candidate Jeb Bush laid out a tax overhaul plan Wednesday that calls for a lower corporate tax rate for businesses and immediate tax deductions for business investments to help create millions of jobs and boost economic growth.
  
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• Volatility making you sick? It’s the cortisol talking

  09-09-2015 22:47
  
  (James Saft is a Reuters columnist. The opinions expressed are his own)
  
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• BlackRock executive Charles Hallac, dies at 50

  09-09-2015 22:45
  
  (Reuters) - BlackRock Inc co-president and long-time executive Charles Hallac has died after a years-long struggle with colon cancer at the age of 50, the company said on Wednesday.
  
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• Wall Street ends down 1 percent, led by Apple, energy sector

  09-09-2015 22:41 via news.yahoo.com
  
  By Caroline Valetkevitch (Reuters) - U.S. stocks ended more than 1 percent lower on Wednesday after rallying the day before, led by declines in Apple shares and in energy companies, which fell with oil prices. Apple shares ended down 1.9 percent at $110.15 in heavy trading, erasing earlier gains as it launched new products in San Francisco. Chief Executive Tim Cook announced a new version of the Apple TV with an app store and voice-controlled remote control. Some analysts said investors sold App
  
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• Greek political leaders clash over bailout in televised debate

  09-09-2015 22:41 via news.yahoo.com
  
  Greece's political heavyweights went head-to-head for the first time on Wednesday in campaigning for national elections, trading accusations over the economic crisis as they sought to win over undecided voters. In a televised debate, former prime minister Alexis Tsipras said the international bailout he had agreed to in July had stabilized Greece, while his conservative rival Evangelos Meimarakis said it had damaged the economy. "An agreement is always judged by the outcome and the outcome is un
  
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• Palo Alto revenue forecast beats as cyber security spending rises

  09-09-2015 22:26 via news.yahoo.com
  
  (Reuters) - Cyber security company Palo Alto Networks Inc forecast first-quarter revenue well above Wall Street estimates as companies and governments spend more to protect their networks amid sophisticated cyber attacks. The maker of firewalls that prevent data breaches and block malware and viruses also reported better-than-expected fourth-quarter revenue and profit on Wednesday. The company's shares rose about 6 percent in extended trading. Palo Alto said it expected an adjusted profit of 31-
  
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• SEC says financial adviser used radio show to falsify returns

  09-09-2015 22:09
  (Reuters) - A Washington, D.C., financial adviser used her paid radio program to “grossly” inflate the amount of assets her firm managed and exaggerate investment returns, the U.S. Securities and...
  
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• Bush says tax reform would bring jobs home, slams Trump

  09-09-2015 21:56 via news.yahoo.com
  
  By Steve Holland WASHINGTON (Reuters) - Republican presidential candidate Jeb Bush laid out a tax reform proposal on Wednesday that he touted as encouraging U.S. businesses abroad to bring jobs home and avoiding erecting protectionist walls that he said are backed by rival Donald Trump. Bush, fighting for position in a Republican field now largely dominated by Trump, said in a speech in Garner, North Carolina, that his tax plan would include reductions that would mean 42 million middle class fam
  
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• Hedge fund Overland Advisors changes name to Coastland Capital

  09-09-2015 21:41
  BOSTON (Reuters) - Hedge fund Overland Advisors changed its name to Coastland Capital to better reflect its new ownership structure, the $1.1 billion fund told investors this week, after its founders...
  
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• Wall Street falls with Apple, energy sector

  09-09-2015 21:03 via news.yahoo.com
  
  U.S. stocks fell in late afternoon trading on Wednesday, led by a decline in Apple shares and as energy companies dropped with oil prices. Apple shares were last down 0.8 percent at $111.44 in volatile trading as the company's product launch event was under way in San Francisco. Apple said it would update Apple TV with an App Store and a new interface that allows viewers to make requests through the Siri digital assistant to search for specific programs and movies across apps.
  
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• Stocks rally as investors scent fresh stimulus

  09-09-2015 20:18 via news.yahoo.com
  
  NEW YORK (Reuters) - Global equity markets rose on Wednesday, led by an 8-percent surge in Japanese stocks, helping lift the dollar as the prospect of more economic stimulus out of Asia soothed investors rattled by recent market turmoil.
  
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• Malema ejected from South Africa's parliament for calling deputy president 'murderer'

  09-09-2015 20:12 via news.yahoo.com
  
  Julius Malema, leader of the leftist Economic Freedom Fighters (EFF) party, was thrown out of the South African parliament on Wednesday after he called Deputy President Cyril Ramaphosa a "murderer". Malema, clad in his party's trade-mark red overalls, was ejected from the chamber after he refused to withdraw his comments, saying "I will never apologize to Cyril". Malema and his party accuse Ramaphosa of having a hand in the 2012 killing of 34 striking miners who were gunned down by police near t
  
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• China capable of maintaining 'high' growth: Li

  09-09-2015 19:42 via news.yahoo.com
  
  The Chinese government is capable of maintaining high economic growth, Premier Li Keqiang said on Wednesday, after fears the economy was slowing rocked global financial markets in recent weeks. Li addressed a crowd of about 200 entrepreneurs and executives, including Alibaba's Jack Ma and multinational corporations, at the World Economic Forum in Dalian. Global markets have been in turmoil for weeks on worries about slowing growth in China, a key driver of global expansion, wiping trillions off
  
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• Struggling Tunisia to seek new IMF aid

  09-09-2015 19:08 via news.yahoo.com
  
  Tunisia, whose economy has languished since the country's longtime dictator was ousted nearly five years ago, is to ask the IMF for a new aid package, the central bank chief said Wednesday. Chedly Ayari, speaking at a news conference with visiting International Monetary Fund chief Christine Lagarde, said the amount sought would at least equal a $1.7-billion (1.5-billion-euro) credit line granted in 2013. On Tuesday, Lagarde had urged Tunisia, whose vital tourism sector has been hard hit this yea
  
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• U.S. job openings hit record high as labor market tightens

  09-09-2015 18:51 via news.yahoo.com
  
  U.S. job openings surged to a record high in July and employers appeared to have trouble filling openings, the latest signal of an increasingly tight labor market that could push the Federal Reserve closer to raising interest rates. The monthly Job Openings and Labor Turnover Survey, or JOLTS, is one of the job market metrics on Fed Chair Janet Yellen's so-called dashboard. Despite the tightening labor market and a strong rebound in economic growth, the probability of a rate hike at next week's
  
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• Chinese stimulus sparks stocks rally

  09-09-2015 18:48 via news.yahoo.com
  
  Fresh Chinese stimulus sparked a global stocks rally Wednesday in markets that had been coloured red by fears of a slowdown in the world's second-largest economy, with Tokyo surging almost 8 percent. The pledge by China's finance ministry to adopt a "proactive fiscal policy ... and accelerate reforms that will help stabilise growth" gave markets a burst of confidence. European exchanges and Wall Street also pushed strongly higher, although the gains were later pared by US data that reminded inve
  
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• US stocks rise following gains in Asia and Europe

  09-09-2015 18:35 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks rose in midday trading on optimism that policymakers in Asia will do more to help boost growth in the region. Japan's stock market logged its biggest gain in almost seven years after comments from the country's prime minister raised expectations of more measures to shore up economic growth. China's No. 2 leader said that the nation had no plans to devalue its currency further and suggested that growth remained on track.
  
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• Wall Street trims gains as early rally fades

  09-09-2015 18:24 via news.yahoo.com
  
  Wall Street trimmed early gains and was little changed in late morning trading on Wednesday as the rally fueled by hopes of further stimulus measures in China faded. China's Ministry of Finance said on Wednesday the government will strengthen fiscal policy, boost infrastructure spending and speed up reform of its tax system, adding to other steps to reenergize sputtering growth. Adding to the positive sentiment, Japan's Nikkei 225 rose 7.7 percent, its biggest one-day rise since the global finan
  
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• Wall St. trims gains as early rally fades

  09-09-2015 17:46 via news.yahoo.com
  
  (Reuters) - Wall Street trimmed early gains and was little changed in late morning trading on Wednesday as the rally fueled by hopes of further stimulus measures in China faded.
  
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• Worldpay Auction Hots Up As French Raise Bid

  09-09-2015 17:40 via news.yahoo.com
  
  A French payments processing company has raised the stakes in the battle to win control of Worldpay, its UK-based rival, by tabling a higher bid in an effort to derail a £6bn-plus stock market listing. Sky News has learnt that Ingenico Group (Swiss: ING.SW - news) which is listed on the Euronext (Lisbon: ENX.LS - news) stock exchange, this week submitted an offer worth well over £6bn for Worldpay. The revised bid also included a proposal for a substantial break fee which would be han
  
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• IMF urges recession-hit Tunisia to speed up reforms

  09-09-2015 17:29 via news.yahoo.com
  
  TUNIS, Tunisia (AP) — The managing director of the International Monetary Fund urged Tunisia to speed up reforms of its economy, as the North African country slid into a recession following devastating terrorist attacks.
  
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• Bank of Canada seen on hold for now after rate decision

  09-09-2015 17:23 via news.yahoo.com
  
  By Randall Palmer and Leah Schnurr OTTAWA (Reuters) - The Bank of Canada kept its key interest rate at 0.5 percent on Wednesday, declaring its previous two rate cuts were still stimulating an economy that is benefiting from solid household spending and a firm U.S. recovery. It added some important caveats about uncertainty abroad and continued troubles in the resource sector, but the market quickly interpreted the statement as meaning the central bank was less likely to cut interest rates in the
  
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• Should You Buy Monitise plc On Today’s Earnings?

  09-09-2015 17:17 via news.yahoo.com
  
  Shares in Monitise plc (LON:MONI) fall by 49% today as full year losses widen.
  
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• Diageo eyes $208 million deal to boost stake in Nigerian Guinness unit

  09-09-2015 16:54 via news.yahoo.com
  
  By Oludare Mayowa and Chijioke Ohuocha LAGOS (Reuters) - Drinks company Diageo Plc on Wednesday announced plans to buy extra 15.7 percent shares in its Nigeria subsidiary for up to 41.37 billion naira (135 million pounds), taking its equity stake to 70 percent, Guinness Nigeria said. Guinness said its parent firm, which currently own 54.3 percent, was in the process of launching a partial tender offer to existing shareholders and would also buy extra shares through the stock market at a maximum
  
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• Diageo eyes $208 mln deal to boost stake in Nigerian Guinness unit

  09-09-2015 16:45 via news.yahoo.com
  
  By Oludare Mayowa and Chijioke Ohuocha LAGOS (Reuters) - Drinks company Diageo Plc on Wednesday announced plans to buy extra 15.7 percent shares in its Nigeria subsidiary for up to 41.37 billion naira ($208 million), taking its equity stake to 70 percent, Guinness Nigeria said. Guinness said its parent firm, which currently own 54.3 percent, was in the process of launching a partial tender offer to existing shareholders and would also buy extra shares through the stock market at a maximum of 175
  
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• Wall St. opens higher on hopes of more stimulus in China

  09-09-2015 16:34 via news.yahoo.com
  
  Wall Street opened higher on Wednesday as hopes for further stimulus in China cheered investors for a second day. China's Ministry of Finance said the government will strengthen fiscal policy, boost infrastructure spending and speed up reform of its tax system, adding to other steps to reenergize sputtering growth. The S&P 500 was up 13.52 points, or 0.69 percent, at 1,982.93 and the Nasdaq Composite was up 40.73 points, or 0.85 percent, at 4,852.66.
  
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• U.S. regulators' biofuels plan to cost at the pump: industry study

  09-09-2015 16:34 via news.yahoo.com
  
  The targeted volumes of ethanol use for 2015 and 2016 are impossible to achieve and will cause "severe economic harm," said National Economic Research Associates (NERA) in a study commissioned by the American Petroleum Institute on the potential costs of the Environmental Protection Agency proposal due to be finalized by November 30. The study echoes a 2012 report from the same consultancy examining the impacts of the controversial Renewable Fuel Standard program and comes just months after EPA
  
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• Nigeria financial markets suffer after JP Morgan index expulsion

  09-09-2015 16:32 via news.yahoo.com
  
  By Chijioke Ohuocha and Oludare Mayowa LAGOS (Reuters) - Nigeria's stocks sunk on Wednesday after JP Morgan said it would eject Africa's biggest economy from its influential emerging markets bond index due to tough controls imposed to prevent a currency collapse. In a move that came earlier in the year than expected, JP Morgan said late on Tuesday it would remove the bond listings belonging to the West African nation by the end of October, forcing fund managers to sell Nigerian bonds, which migh
  
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• Oil softens, but stock market rally underpins prices

  09-09-2015 16:29 via news.yahoo.com
  
  By Libby George LONDON (Reuters) - Crude oil prices slipped on Wednesday amid a persistent oversupply of physical oil, but strong equity markets globally helped to stem the losses. There was also news that Russia and Mexico would not cut production, cooling speculation that some producers might lower output to support prices.
  
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• Wall Street opens higher on hopes of more stimulus in China

  09-09-2015 16:17 via news.yahoo.com
  
  Wall Street opened higher on Wednesday as hopes for further stimulus in China cheered investors for a second day. China's Ministry of Finance said the government will strengthen fiscal policy, boost infrastructure spending and speed up reform of its tax system, adding to other steps to reenergize sputtering growth. The S&P 500 was up 13.52 points, or 0.69 percent, at 1,982.93 and the Nasdaq Composite was up 40.73 points, or 0.85 percent, at 4,852.66.
  
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• US stocks open higher following gains in Asia and Europe

  09-09-2015 16:17 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks rose in early trading on optimism that policymakers in Asia will do more to help boost growth in the region. Japan's stock market logged its biggest gain in almost seven years after comments from the country's Prime Minister raised expectations of more measures to shore up economic growth. China's No. 2 leader said that the nation had no plans to devalue its currency further and suggested that growth remained on track.
  
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• Global stocks rally on Chinese stimulus

  09-09-2015 16:13 via news.yahoo.com
  
  Fresh Chinese stimulus sparked a global stocks rally Wednesday in markets that had been coloured red by fears of a slowdown in the world's second-largest economy, with Tokyo surging almost 8 percent. The pledge by China's finance ministry to adopt a "proactive fiscal policy ... and accelerate reforms that will help stabilise growth" gave markets a burst of confidence. Japanese stocks spearheaded an Asian equities rally as investors scooped up shares on the cheap, with buying also boosted by a we
  
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• Bank of Canada holds rate, says past cuts still helping

  09-09-2015 16:09 via news.yahoo.com
  
  By Randall Palmer and Leah Schnurr OTTAWA (Reuters) - The Bank of Canada kept its key interest rate at 0.5 percent on Wednesday, declaring its previous two rate cuts were still stimulating an economy that is benefiting from solid household spending and a firm U.S. recovery. The bank added that Canada's resource sector continued "to adjust to lower prices for oil and other commodities, with some spillover to the rest of the economy" - adjustments it said were complex and would take considerable t
  
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• Canadian housing starts jump as Toronto condo building booms

  09-09-2015 15:48 via news.yahoo.com
  
  By Andrea Hopkins TORONTO (Reuters) - Canadian housing starts unexpectedly jumped in August from July as condo building surged to meet demand for lower-cost options in the nation's hottest market, extending a housing boom that is one of the few bright spots in Canada's otherwise tepid economy. Wednesday's report from the Canadian Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts jumped to 216,924 in August from an upwardly revised 193,253 units in July. C
  
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• TSX opens higher ahead of BoC rate decision

  09-09-2015 15:47 via news.yahoo.com
  
  TORONTO (Reuters) - Canada's main stock index jumped shortly after the open, ahead of the Bank of Canada's interest rate decision and as global investors bet on more economic stimulus from China. The Toronto Stock Exchange's S&P/TSX composite index was rose 124.55 points, or 0.91 percent, to 13,755.22. Nine of the index's 10 main sectors advanced. (Reporting by Solarina Ho; Editing by Chizu Nomiyama)
  
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• U.S. stocks open higher on Chinese stimulus hopes

  09-09-2015 15:36 via news.yahoo.com
  
  REUTERS - Wall Street opened higher on Wednesday after China's finance ministry said the government will strengthen fiscal policy, boost infrastructure spending and speed up tax reforms. The Dow Jones industrial average rose 77.5 points, or 0.47 percent, to 16,570.18, the S&P 500 gained 11.75 points, or 0.6 percent, to 1,981.16 and the Nasdaq composite added 42.76 points, or 0.89 percent, to 4,854.69. (Reporting By Sudarshan Varadhan; Editing by Don Sebastian)
  
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• Asia markets regain confidence after global rally

  09-09-2015 15:06 via news.yahoo.com
  
  A wave of confidence swept through Asian markets Wednesday, led by a soaring Tokyo, extending the previous day's broad global advance as China announced policy moves to bolster the economy. Investors dumped assets considered safe bets and piled into riskier prospects, with the Japanese yen sinking against the dollar and euro, while the Australian dollar recovered from six-year lows and emerging market currencies got much-needed support. Big gains on stock markets -- Tokyo shot up 7.71 percent --
  
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• Wall Street set to open higher on Chinese stimulus hopes

  09-09-2015 15:01 via news.yahoo.com
  
  Wall Street was set to open higher on Wednesday as positive comments from Chinese officials kept alive hopes of further stimulus measures. China's Ministry of Finance said the government will strengthen fiscal policy, boost infrastructure spending and speed up reform of its tax system, adding to other steps to reenergize sputtering growth. Adding to the positive sentiment, Japan's Nikkei 225 stock index rose 7.7 percent, the most it has risen in a day since the depths of the global financial cri
  
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• Wall St. set to open higher on Chinese stimulus hopes

  09-09-2015 14:57 via news.yahoo.com
  
  China's Ministry of Finance said the government will strengthen fiscal policy, boost infrastructure spending and speed up reform of its tax system, adding to other steps to reenergize sputtering growth. Adding to the positive sentiment, Japan's Nikkei 225 stock index rose 7.7 percent, the most it has risen in a day since the depths of the global financial crisis in October 2008, as Prime Minister Shinzo Abe signaled that the country will cut corporate taxes. "The fear factors regarding China and
  
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• Blockchain investment firm Coinsilium delays IPO

  09-09-2015 14:49 via news.yahoo.com
  
  By Lionel Laurent LONDON (Reuters) - Coinsilium, a London-based investor in the technology that underpins digital currency bitcoin, has delayed a stock market listing that had been due ...
  
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• World stocks rally as investors scent fresh stimulus

  09-09-2015 14:29 via news.yahoo.com
  
  By Nigel Stephenson LONDON (Reuters) - Global shares rose on Wednesday, led by an 8 percent surge in Japanese stocks, helping lift the dollar as the prospect of more economic stimulus from China soothed investors rattled by recent market turmoil. The pan-European FTSEurofirst 300 index rose 2.4 percent to a two-week high, led by miners tracking a sharp rise in metals prices on expectations of more stimulus in top consumer China. The stock market gains were sparked by a rally in Chinese shares on
  
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• Tax concerns on Yahoo's Alibaba stake spinoff prompt target cuts

  09-09-2015 13:58 via news.yahoo.com
  
  (Reuters) - Wall Street analysts tempered their view on Yahoo Inc's stock after the company's plans for a tax-free spinoff of its stake in Alibaba Group Holdings Ltd hit a snag. The com...
  
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• Tunisia to start IMF negotiations over new credit program: central bank

  09-09-2015 13:52 via news.yahoo.com
  
  TUNIS (Reuters) - Tunisia will start negotiations with the IMF over a new credit programme that will likely be for at least $1.7 billion, the country's central bank chief said on Wednesday. Tunisia in 2013 agreed to a two-year IMF credit worth about $1.74 billion. The North African state agreed to follow certain economic polices, such as keeping its deficit under control and making the foreign exchange market more flexible.
  
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• Chinese premier seeks to quell global markets' China fears

  09-09-2015 13:48 via news.yahoo.com
  
  By Gerry Shih and Pete Sweeney DALIAN, China/SHANGHAI (Reuters) - China has fended off the major risks to its financial system while its economic prospects remain positive, Premier Li Keqiang said on Wednesday, as he tried to reassure global markets that Beijing can keep its economy on track and stock markets in check. "The government took measures to stabilize the market and prevent risks from spreading, we have forced out the possibility of any systemic risks," Li said during a speech at the W
  
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• Oil prices dip, stock market rally stems losses

  09-09-2015 13:44 via news.yahoo.com
  
  By Libby George LONDON (Reuters) - Crude oil prices slipped on Wednesday amid a persistent oversupply of physical oil, but stock market gains globally helped to stem the losses. There was also news that Russia and Mexico would not cut production, cooling speculation that some producers might lower output to support prices.
  
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• Futures rise on hopes of more Chinese stimulus steps

  09-09-2015 13:32 via news.yahoo.com
  
  China's Ministry of Finance said the government will strengthen fiscal policy, boost infrastructure spending and speed up reform of its tax system, adding to other steps to reenergize sputtering growth. The stock market gains were sparked by a rally in Chinese shares on Tuesday, when weaker-than-expected August trade reinforced investors' expectations that Beijing would act to bolster slowing growth in the world's second-largest economy.
  
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• Juncker calls for broad Greek political backing for bailout

  09-09-2015 13:16 via news.yahoo.com
  
  By Jan Strupczewski and Francesco Guarascio STRASBOURG (Reuters) - European Commission President Jean-Claude Juncker urged the main political parties in Greece to back the country's third bailout and carry out long-delayed reforms regardless of who wins elections scheduled for this month. "Broad support and timely delivery of the reforms is what Greece needs, so that confidence can return both among the Greek people and to the Greek economy." Juncker said that Greece's new government must respec
  
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• Li says Chinese economic growth in 'proper range'

  09-09-2015 13:13 via news.yahoo.com
  
  BEIJING (AP) — China's No. 2 leader tried Wednesday to mollify foreign concerns about its economic slowdown, saying growth is in the "proper range" and Beijing has no plans to allow its currency to decline further.
  
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• European stocks jump in global rally

  09-09-2015 13:04 via news.yahoo.com
  
  Europe's stock markets jumped Wednesday in a global rally driven by the brighter economic outlook and impressive gains in Tokyo, dealers said. In late morning European deals, London's benchmark FTSE 100 index of top companies rose 1.92 percent to 6,264.30 points. "European markets are taking their lead from a buoyant Asian session, with stocks soaring higher and appearing to have put recent concerns behind them," said Rebecca O'Keeffe, head of investment at online stockbroker Interactive Investo
  
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