Finance news

• Pimco's Ivascyn says below 50 percent chance Fed hikes rates this week

  14-09-2015 23:52
  
  NEW YORK (Reuters) - Pacific Investment Management Co, one of the world's largest asset managers and advised by former Federal Reserve chairman Ben Bernanke, puts a "below 50 percent chance" the Fed...
  
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• How to find a Disney cruise for less

  14-09-2015 23:33
  
  LOS ANGELES (Reuters) - Disney cruises can be expensive, but you do not have to choose between sailing with Mickey and sending your children to college someday.
  
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• Wall St. pushed down by Fed jitters, weak China data

  14-09-2015 23:32 via news.yahoo.com
  
  Stocks are expected to stay volatile ahead of a Federal Reserve announcement scheduled for Thursday after a two-day meeting at which it will decide whether or not to make its first interest rate increase since 2006. Everybody's waiting on the Fed. The Fed's sitting around singing that tune 'Should I stay or should I go now. The Fed has said it will raise rates when it sees a sustained economic recovery with emphasis on jobs and inflation but while the jobs market has improved inflation has been
  
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• Stocks down with markets on Fed watch; oil falls

  14-09-2015 23:14 via news.yahoo.com
  
  Stocks in major markets fell on Monday and oil prices fell as investors positioned for a Federal Reserve meeting this week that could see the U.S. central bank raise interest rates for the first time in nearly a decade. The U.S. dollar closed little changed after hitting a near three-week low against a basket of major currencies, with investors squarely fixed on whether interest rates would be kept at their record lows until at least December. The combination of worries about slowing Chinese and
  
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• Crisis-hit Brazil announces spending cuts, tax hikes

  14-09-2015 23:05 via news.yahoo.com
  
  Brasília (AFP) - Brazil announced steep spending cuts and tax hikes Monday in response to a deepening economic crisis that has already caused a shock downgrade of its credit rating. Planning Minister Nelson Barbosa told a news conference that the austerity package would total 64.9 billion reais ($17.03 billion).
  
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• TSX declines ahead of Fed decision, oil prices weigh

  14-09-2015 22:27 via news.yahoo.com
  
  By Solarina Ho and Alastair Sharp TORONTO (Reuters) - Canada's main stock index fell on Monday over slumping oil prices and worries about the U.S. Federal Reserve’s decision on interest rates this week. With investors trying to position themselves ahead of the Fed decision, volatility in commodity prices due to worries over the Chinese economy, currency swings and mixed economic data also added to the market's uncertainties. The Fed had been indicating it planned to hike rates at some poin
  
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• Wall St. falls after weak Chinese data; Fed meeting eyed

  14-09-2015 20:50 via news.yahoo.com
  
  Stocks are expected to remain volatile before a Federal Reserve announcement scheduled for Thursday after a two-day meeting at which it will decide whether or not to make its first interest rate increase since 2006. With the Fed coming out Thursday nobody wants to take any real shots," said Michael Matousek, head trader at U.S. Global Investors Inc in San Antonio. Also weighing on stocks Monday was data showing China's investment and factory output in August missed forecasts, raising the chances
  
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• Balanced budget for Canada's Harper overshadows corruption trial

  14-09-2015 20:46 via news.yahoo.com
  
  By Julie Gordon KAMLOOPS, British Columbia (Reuters) - Good news about the economy propelled Canadian Prime Minister Stephen Harper on the campaign trail on Monday, with an earlier-than-expected budget surplus overshadowing the trial of a former aide for influence peddling. Trumpeting a C$1.9 billion ($1.4 billion) budget surplus for the year just passed - the first surplus in seven years for Harper's nine-year-old Conservative government - the prime minister said his opponents in the race to th
  
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• Credibility, 'gradual' approach at stake as Fed weighs rate rise

  14-09-2015 20:41 via news.yahoo.com
  
  NEW YORK/SAN FRANCISCO (Reuters) - The U.S. Federal Reserve, facing this week its biggest policy decision yet under Chair Janet Yellen, puts its credibility on the line regardless of whether it waits or raises interest rates for the first time in nearly a decade. In a way it is a "damned if you do, damned if you don't" situation for the Fed despite months of fine-tuning its message, dissecting economic data, and carefully building a consensus around the idea of a cautious and gradual "lift-off"
  
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• German energy firms need to set aside more money for nuclear exit - Spiegel Online

  14-09-2015 20:40 via news.yahoo.com
  
  German energy companies are short of as much as 30 billion euros ($34 billion) of the money they need to set aside to build a safe disposal site for nuclear waste as part of the country's exit from nuclear power, Spiegel Online reported on Monday. E.ON, RWE, EnBW and Vattenfall [VATN.UL] are due to switch off their nuclear plants by a 2022 deadline set by Chancellor Angela Merkel's government after the Fukushima disaster in Japan in 2011. Spiegel Online reported that the provisional findings of
  
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• As Airbus opens U.S. factory, CEO sees plane output soaring

  14-09-2015 20:11 via news.yahoo.com
  
  Airbus Group SA opened its first jetliner factory on U.S. soil on Monday and does not anticipate taking a hit to aircraft orders from the economic slowdown in China, Chief Executive Tom Enders said. The $600 million plant in Alabama will help Airbus meet plans to churn out 50 narrow body jets a month by 2017, up from 42 currently. Airbus is considering lifting that to 60 or more to meet a backlog of more than 5,400 planes.
  
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• Hastings Staff To Share In London Float Windfall

  14-09-2015 19:51 via news.yahoo.com
  
  The motor insurer Hastings Direct will on Tuesday turn the ignition key on a flotation valuing it at up to £1.5bn, triggering a fresh windfall for hundreds of employees. Sky News has learnt that the company will announce in a statement before the stock market opens that it wants to raise approximately £180m from an initial public offering (IPO) in a bid to accelerate its growth. Hastings' 1,900 employees, most of whom are shareholders in the company, will see their investments turned
  
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• Factbox: What Fed officials have said lately about a rate rise

  14-09-2015 19:43 via news.yahoo.com
  
  Leaning toward a rate increase: Richmond Fed President Jeffrey Lacker, St Louis Fed President James Bullard, Cleveland Fed President Loretta Mester, Kansas City Fed President Esther George. "Nothing has happened here that is so radically changing the U.S. outlook that the basic trajectory of policy would change," Bullard said on Aug. 28. "(M)y basic outlook that the U.S. economy is solid and it could support an increase in interest rates," Mester said on Aug. 28.
  
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• Factbox: Fed's rate decision follows a roller-coaster year

  14-09-2015 19:42 via news.yahoo.com
  
  * In September last year the U.S. economy was roaring along in its second straight quarter of more than 4-percent gross domestic product (GDP) growth with the Fed well on course to shelve a bond-buying program known as quantitative easing, or QE3, the following month and look ahead to an initial rate hike. * In October, global oil prices tumbled and led to sharp selling on Wall Street, sowing worries that too-low U.S. inflation would not rebound toward the Fed's 2-percent target any time soon.
  
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• Europe close: Weak Chinese data takes it toll amid BIS warning

  14-09-2015 19:12 via news.yahoo.com
  
  (ShareCast News) - European stocks ended mostly lower on Monday as soft Chinese data over the weekend took its toll with a weak start on Wall Street adding to the selling pressure at the start of a week ...
  
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• Wall Street falls amid weak Chinese data; Fed meet eyed

  14-09-2015 19:06 via news.yahoo.com
  
  U.S. stocks were lower in early afternoon trading on Monday as investors awaited Federal Reserve's interest rate meeting this week even as fears of slowing growth in China continue to rattle global markets. Stocks are expected to remain volatile in the run-up to the policy meeting on Wednesday and Thursday, when the Fed is expected to decide on its first interest rate increase since 2006. "The uncertainty is so high in regard to the announcement ... it leaves investors a little bit paralyzed rel
  
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• Stocks give up gains as Fed concerns weigh

  14-09-2015 19:06 via news.yahoo.com
  
  NEW YORK (Reuters) - Wall Street and European shares retreated on Monday and oil prices fell as investors positioned for a U.S. Federal Reserve meeting later this week that could see interest rates rise for the first time since 2006.
  
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• Global stocks give up gains as Fed concerns weigh

  14-09-2015 19:04 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - Wall Street and European shares retreated on Monday and oil prices fell as investors positioned for a U.S. Federal Reserve meeting later this week that could see interest rates rise for the first time since 2006. The U.S. dollar bounced back after hitting a near three-week low against a basket of major currencies with investors squarely fixed on whether interest rates would be kept at their record lows until at least December. Wall Street fell with commodit
  
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• Wall St. falls amid weak Chinese data; Fed meet eyed

  14-09-2015 18:52 via news.yahoo.com
  
  Stocks are expected to remain volatile in the run-up to the policy meeting on Wednesday and Thursday, when the Fed is expected to decide on its first interest rate increase since 2006. "The uncertainty is so high in regard to the announcement ... it leaves investors a little bit paralyzed relative to what to do in anticipation thereof," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. Data on Monday showed that growth in China's investment and factory o
  
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• Corbyn names 'enemy of capitalism' McDonnell as finance spokesman

  14-09-2015 18:46 via news.yahoo.com
  
  By Sarah Young and William James LONDON (Reuters) - The new leader of opposition Labour Party named an ally whose declared aim is the overthrow of capitalism as finance spokesman on Monday, pushing hard-left policies that opponents say will make the party unelectable. After winning Labour's top job by a landslide on Saturday, Jeremy Corbyn named senior members of his would-be government including John McDonnell - a former trade unionist who backs renationalising banks and imposing wealth taxes -
  
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• Malaysia to pump in $4.6 bn to bolster stock market

  14-09-2015 18:22 via news.yahoo.com
  
  Malaysia will inject up to $4.6 billion to bolster its stock market and will spend tens of millions of dollars on infrastructure projects to try to stimulate the slowing economy, Prime Minister Najib Razak said Monday. Najib, who is also finance minister, said up to 20 billion ringgit ($4.6 billion) would be used to reactivate the dormant equity investment firm ValueCap, which was set up in 2002 to invest in undervalued local firms. The country has seen a 9.0 percent plunge in its stock market t
  
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• With Fed rate decision looming, stocks head lower

  14-09-2015 18:21 via news.yahoo.com
  
  NEW YORK (AP) — The U.S. stock market drifted lower Monday ahead of a much-anticipated Federal Reserve meeting later this week. More signs of slowing economic growth in China weighed on prices for copper and other commodities, driving stocks of material producers down. Oil and gas companies fell along with the price of crude oil.
  
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• Lighthouse Group hikes interim dividend on higher earnings and revenue

  14-09-2015 18:16 via news.yahoo.com
  
  (ShareCast News) - Financial advice firm Lighthouse Group posted a sharp increase in interim profit, on the back of improved margins and higher revenue.
  
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• Brazil prepares major budget surgery to escape economic crisis

  14-09-2015 18:01 via news.yahoo.com
  
  Brasília (AFP) - Brazil's President Dilma Rousseff is eyeing a new round of austerity measures to make major cuts to the budget in response to a deepening economic crisis in Latin America's biggest country, officials said Monday. The shock downgrade of Brazil's credit rating last week by Standard & Poors sent the government scrambling to prevent an exit of foreign capital and to balance the books in an economy already suffering from plummeting commodity prices and the effects of a hug
  
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• TSX slips ahead of Fed decision, resources drag

  14-09-2015 17:37 via news.yahoo.com
  
  By Solarina Ho TORONTO (Reuters) - Canada's main stock index fell on Monday as investors positioned themselves ahead of the Federal Reserve decision this week, while commodity prices, under pressure from the latest tepid data out of China, dragged on resource stocks. The Fed had been indicating it planned to hike rates at some point this year, but recent worries about global growth and lackluster Chinese economic data have raised the possibility the U.S. central bank could delay any increase to
  
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• Wall Street lower amid weak Chinese data; Fed meet eyed

  14-09-2015 17:31 via news.yahoo.com
  
  U.S. stocks fell in morning trading on Monday as investors awaited Federal Reserve's interest rate meeting this week even as fears of slowing growth in China continue to rattle global markets. Stocks are expected to remain volatile in the run-up to the policy meeting on Wednesday and Thursday, when the Fed is expected to decide on its first interest rate increase since 2006. "The uncertainty is so high in regard to the announcement ... it leaves investors a little bit paralyzed relative to what
  
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• Wall St. lower amid weak Chinese data; Fed meet eyed

  14-09-2015 17:07 via news.yahoo.com
  
  Stocks are expected to remain volatile in the run-up to the policy meeting on Wednesday and Thursday, when the Fed is expected to decide on its first interest rate increase since 2006. "The uncertainty is so high in regard to the announcement ... it leaves investors a little bit paralyzed relative to what to do in anticipation thereof," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. Data on Monday showed that growth in China's investment and factory o
  
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• India prices cool, boosting hopes for rate cuts

  14-09-2015 17:03 via news.yahoo.com
  
  India's two main inflation indices eased further on Monday, according to government data, hiking prospects of an interest rate cut later this month. The Wholesale Price Index (WPI), an inflation indicator that measures the biggest basket of goods, fell 4.95 percent last month compared with a year earlier, after slipping 4.05 percent in July, the commerce ministry said. With prices at record lows, expectations are skyrocketing that the Reserve Bank of India (RBI) may slash borrowing costs in its
  
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• European stocks slide as traders eye Fed

  14-09-2015 16:01 via news.yahoo.com
  
  European stocks mostly dropped on Monday, with investors cautious ahead of the US Federal Reserve's key interest-rate meeting this week. Focus was also firmly on China which revealed a mixed bag of economic data from the world's second biggest economy. London's benchmark FTSE 100 index slid 0.46 percent to stand at 6,089.82 points in afternoon deals.
  
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• Wall Street falls as jittery investors await Fed meet

  14-09-2015 15:56 via news.yahoo.com
  
  U.S. stocks were lower at the open on Monday as a weary market awaited this week's Federal Reserve meeting that will decide on an interest rate increase. "The uncertainty is so high in regard to the announcement ... it leaves investors a little bit paralyzed relative to what to do in anticipation thereof," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. At 9:40 a.m. ET (1340 GMT), the Dow Jones industrial average was down 56.39 points, or 0.34 percent,
  
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• China grabs unused funds to spend on new projects as growth slows

  14-09-2015 15:48 via news.yahoo.com
  
  BEIJING/SHANGHAI (Reuters) - Chinese authorities have seized up to 1 trillion yuan ($157 billion) from local governments who failed to use their budget allocations, sources said, as Beijing looks for ways to spend its way out of an economic slowdown. The exclusive Reuters report came after China's stocks fell following data suggesting economic growth was running below the 2015 target level of about 7 percent, heightening concerns about the health of the world's second largest economy. "China's e
  
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• With Fed rate decision looming, stocks drift lower

  14-09-2015 15:42 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks are opening slightly lower following some mixed economic news out of China.
  
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• Factbox - Public banks and pay caps: the thoughts of Labour's new economy chief

  14-09-2015 14:49 via news.yahoo.com
  
  (Reuters) - John McDonnell, the man who could be Britain's next finance minister if the opposition Labour Party wins power, is a critic of the capitalist system which he has said he wants to overhaul by nationalising banks and capping executives' pay. McDonnell was named as Labour's top spokesman on economic policy by newly-elected party leader Jeremy Corbyn, adding to Labour's sharp shift leftwards since its heavy defeat in May's parliamentary election. Below is a summary of economic proposals
  
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• Corbyn names pro-nationalisation, left-wing finance spokesman

  14-09-2015 14:28 via news.yahoo.com
  
  By Sarah Young and William James LONDON (Reuters) - The new leader of opposition Labour Party has named a hard-left former trade union official, who has backed renationalising the country's banks and higher taxes on the wealthy, to run his economic policy. Shortly after winning Labour's leadership election on Saturday, Jeremy Corbyn named top members of his shadow cabinet, including John McDonnell as his would-be finance minister. McDonnell, who lists "generally fomenting the overthrow of capita
  
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• Guinea's Conde favorite to win second term as opposition divided

  14-09-2015 14:00 via news.yahoo.com
  
  By Saliou Samb CONAKRY (Reuters) - Posters on the streets of Guinea's capital Conakry carry the beaming image of President Alpha Conde and a simple message about who will succeed him after next month's election: "After him, it's him again." The West African country has known only four rulers since independence from France in 1958 and analysts suggest there is little chance of a leadership change in Oct. 11's presidential poll. Despite a stagnant economy and an outbreak of the deadly Ebola virus
  
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• TSX set to open lower as commodities weigh

  14-09-2015 13:34 via news.yahoo.com
  
  (Reuters) - Stock futures on Canada's main stock index fell on Monday, weighed down by weak commodity prices due to tepid Chinese economic data and ahead of the U.S. Federal Reserve meeting later in the week. September futures on the S&P TSX index were down 0.19 percent at 7:15 a.m. ET. No major economic events are due on the economic calendar for the day. Canada's main stock index fell on Friday as energy shares tumbled, reflecting a fall in oil prices after Goldman Sachs cut its crude fore
  
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• European stocks fall as traders eye Fed

  14-09-2015 13:25 via news.yahoo.com
  
  Focus was also firmly on China after a mixed bag of economic data from the world's second biggest economy. London's benchmark FTSE 100 index slid 0.62 percent to stand at 6,117.70 points in late morning deals. The mere prospect of higher US interest rates, and thus higher returns for investors, is boosting the dollar against the euro, which dipped slightly to $1.1328 from $1.1333 late on Friday in New York.
  
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• China issues blueprint on overhauling bloated state industry

  14-09-2015 13:17 via news.yahoo.com
  
  BEIJING (AP) — China's Communist Party issued a long-awaited blueprint for overhauling bloated state industries while retaining the party's dominance in the economy.
  
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• Alibaba hasn't hit bottom yet: Barron's

  14-09-2015 13:05 via news.yahoo.com
  
  The reasons the weekly financial newspaper gave for the dour outlook: China's struggling economy, increasing competition in e-commerce and more scrutiny of the company's culture and governance. Alibaba spokesman Bob Christie said the article "contains factual inaccuracies and selective use of information, and the conclusions the reporter draws are misleading." The company has posted on the internet a letter to Barron's editor complaining about the story. "That may only worsen as China's economic
  
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• China state firm reforms limited and slow: analysts

  14-09-2015 12:37 via news.yahoo.com
  
  China is promising reforms, mergers and even closures in its bloated state-owned businesses as it looks to bolster an economy causing global anxiety, but sceptical analysts said Monday that real change could take years. A slew of disappointing data from the world's second-largest economy has sent shudders around the world, with the latest showing weak growth in both industrial output and government infrastructure spending. Zhang Xiwu, a vice-director of the government body that oversees the 110-
  
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• Malaysia to pump $4.6 bn to bolster stocks, boost tourism

  14-09-2015 12:13 via news.yahoo.com
  
  Malaysia will inject $4.6 billion to bolster its stock market and will spend millions more dollars on infrastructure projects, Prime Minister Najib Razak said Monday, announcing a fresh bid to stimulate the slowing economy. Najib, who is also finance minister, said 20 billion ringgit ($4.6 billion) would be parked under the dormant equity investment firm, ValueCap, which was set up in 2002 to invest in undervalued Malaysian firms. The country has seen a 9.0 percent plunge in its stock market thi
  
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• UK Labour chief names pro-nationalisation, left-wing finance spokesman

  14-09-2015 12:07 via news.yahoo.com
  
  By Sarah Young and William James LONDON (Reuters) - The new leader of Britain's opposition Labour Party has named a hard-left former trade union official, who has backed renationalising the country's banks and higher taxes on the wealthy, to run his economic policy. Shortly after winning Labour's leadership election on Saturday, Jeremy Corbyn named top members of his shadow cabinet, including John McDonnell as his would-be finance minister. McDonnell, who lists "generally fomenting the overthrow
  
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• Brent oil prices dip on weaker China data

  14-09-2015 11:55 via news.yahoo.com
  
  Brent crude oil fell on Monday as weaker-than-expected Chinese data weighed on markets, adding to concerns that declining global demand would exacerbate a surplus of crude. Should interest rates rise, analysts expect oil to fall as a stronger dollar would undermine demand from importing countries. Oil prices have fallen almost 60 percent since June 2014 on the largest global surplus in modern times and concerns about a slowing Chinese economy.
  
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• Malaysia to pump $4.6 bn to bolster stock market

  14-09-2015 10:57 via news.yahoo.com
  
  Malaysia will inject $4.6 billion to bolster its stock market and will spend millions more dollars on infrastructure projects, Prime Minister Najib Razak said Monday, announcing a fresh bid to stimulate the slowing economy. Najib, who is also finance minister, said 20 billion ringgit ($4.6 billion) would be parked under the dormant equity investment firm, ValueCap, which was set up in 2002 to invest in undervalued Malaysian firms. The country has seen a 9.0 percent plunge in its stock market thi
  
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• Shanghai sinks on weak data, Asia awaits Fed rate move

  14-09-2015 10:49 via news.yahoo.com
  
  Shanghai tumbled at the end of a volatile day of trade Monday following another round of disappointing Chinese data, while regional investors were moving cautiously ahead of a crucial US interest rate decision at the end of the week. There was little reaction to news that Beijing intends to overhaul its vast state-owned firms in a bid to give a boost to the world's number two economy, while an earlier rally in some riskier assets petered out. China on Sunday released a fresh round of figures tha
  
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• Stocks shrug off China data, Fed weighs on markets

  14-09-2015 10:44 via news.yahoo.com
  
  By Nigel Stephenson LONDON (Reuters) - Stocks rose on Monday, shrugging off tepid Chinese economic data while the dollar weakened before a U.S. Federal Reserve decision on whether to raise interest rates for the first time since 2006 later this week. Oil prices fell again on falling demand which analysts said could take a further hit if interest rates rise in the world's biggest economy. The combination of worries about slowing growth in China and higher U.S. borrowing costs have weighed on mark
  
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• China stocks slide as data raises fresh economy worries

  14-09-2015 10:18 via news.yahoo.com
  
  China's stocks fell on Monday after data suggesting economic growth was running below the 2015 target level of about 7 percent heightened concerns about the health of the economy. The economic concerns offset the impact of plans announced at the weekend to reform the bloated state-owned enterprise sector and produce "decisive" results by 2020. Underscoring the fragility of China's financial markets even after some respite last week, currency traders suspected the central bank intervened to prop
  
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• London pre-open: Shire set to up the dose

  14-09-2015 09:50 via news.yahoo.com
  
  (ShareCast News) - Stocks were being called to start the day comfortably higher, with the Footsie set to gain 56 about points, riding on the back of Friday's gains on Wall Street.
  
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• Bavarian minister says German border controls could last for weeks

  14-09-2015 09:48 via news.yahoo.com
  
  The interior minister of the southern German state of Bavaria said on Monday that temporary border controls could remain in place "for weeks at least" as the country grapples with an unprecedented influx of refugees. Europe's largest and richest economy has been a magnet for many people fleeing war and poverty in Syria and other parts of the Middle East and Africa, with most crossing the border from Austria into Bavaria. With thousands of refugees arriving each day, Germany said it was reaching
  
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• China issues blueprint for state industry overhaul

  14-09-2015 09:35 via news.yahoo.com
  
  BEIJING (AP) — China's Communist Party has issued a long-awaited blueprint for overhauling bloated state industries that would retain the party's dominance in the economy.
  
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