Finance news

• REFILE-BRIEF-Alpha Natural Resources enters into superpriority secured second out debtor-in-possession credit agreement with lenders

  24-09-2015 23:54
  Sept 24 (Reuters) - Sept 24 (Reuters) - Alpha Natural
  Resources Inc :
  * On September 18, entered into superpriority secured second
  out debtor-in-possession credit agreement with lenders -...
  
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• Fed still on track for rate hike this year, Yellen says

  24-09-2015 23:42 via news.yahoo.com
  
  Federal Reserve Chair Janet Yellen said on Thursday she expects the U.S. central bank to begin raising interest rates later this year as long as inflation remains stable and the U.S. economy is strong enough to boost employment. Yellen, who spoke a week after the Fed delayed a long-anticipated rate hike, said she and other Fed policymakers do not expect recent global economic and financial market developments to significantly affect the central bank's policy. Much of the recent price weakness is
  
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• Fed still on track for U.S. rate hike this year, Yellen says

  24-09-2015 23:40 via news.yahoo.com
  
  By Jonathan Spicer and Svea Herbst-Bayliss AMHERST, Mass. (Reuters) - Federal Reserve Chair Janet Yellen said on Thursday she expects the U.S. central bank to begin raising interest rates later this year as long as inflation remains stable and the U.S. economy is strong enough to boost employment. Yellen, who spoke a week after the Fed delayed a long-anticipated rate hike, said she and other Fed policymakers do not expect recent global economic and financial market developments to significantly
  
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• UPDATE 1-Marvell Technologies to cut jobs in mobile business

  24-09-2015 23:33
  Sept 24 (Reuters) - Chipmaker Marvell Technology Group Ltd said it would cut about 17 percent of its global workforce as the company trims its mobile business.
  
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• US stocks drop on global growth worries; Caterpillar slumps

  24-09-2015 23:30 via news.yahoo.com
  
  NEW YORK (AP) — More evidence that global economic growth is slowing pushed the U.S. stock market down for a third straight day on Thursday.
  
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• China's Xi arrives in Washington for first U.S. state visit

  24-09-2015 23:23 via news.yahoo.com
  
  By Matt Spetalnick and Jeff Mason WASHINGTON (Reuters) - Chinese President Xi Jinping arrived in Washington on Thursday for a state visit and talks with President Barack Obama expected to be clouded by differences over alleged Chinese cyber spying, Beijing's economic policies and territorial disputes in the South China Sea. Vice President Joe Biden led the welcoming delegation as Xi's plane touched down at Andrews Air Force Base on the second leg of a weeklong trip that began in Seattle, where t
  
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• Global equities slide catches Wall St. as euro, bonds rise

  24-09-2015 23:04 via news.yahoo.com
  
  By Michael Connor NEW YORK (Reuters) - Stocks around the world fell for a fifth day on Thursday, sliding towards two-year lows, as worries lingered over global economic growth and the scandal over Volkswagen's emissions test-cheating rattled Europe's carmakers. Government bond prices rose on safety bids, while the U.S. dollar fell against the euro and jumped to a 13-year high against the Norwegian crown after a surprise cut in the oil producer's interest rates. ...
  
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• Global equities slide catches Wall Street as euro, bonds rise

  24-09-2015 23:01 via news.yahoo.com
  
  By Michael Connor NEW YORK (Reuters) - Stocks around the world fell for a fifth day on Thursday, sliding towards two-year lows, as worries lingered over global economic growth and the scandal over Volkswagen's emissions test-cheating rattled Europe's carmakers. Government bond prices rose on safety bids, while the U.S. dollar fell against the euro and jumped to a 13-year high against the Norwegian crown after a surprise cut in the oil producer's interest rates. Wall Street equity indexes fell in
  
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• Wall Street ends lower as Caterpillar, health stocks weigh

  24-09-2015 22:32 via news.yahoo.com
  
  Shares in Caterpillar , the world's biggest mining and construction equipment maker, closed down 6.3 percent at $65.80, making it the biggest drag on the Dow and the third-biggest weight on the S&P 500. Caterpillar said it could cut up to 10,000 jobs as it faces challenging conditions in key regions and the mining and energy sector. "The (Caterpillar) news is not helping matters, it's emblematic of a weaker global economy," said Joseph Quinlan, chief market strategist for U.S. Trust, in New
  
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• Obama and Putin to meet; Syria and Ukraine vie for attention

  24-09-2015 22:18 via news.yahoo.com
  
  By Roberta Rampton and Denis Dyomkin WASHINGTON/MOSCOW (Reuters) - U.S. President Barack Obama and Russian President Vladimir Putin will meet in New York next week at a time of high tension in Europe and the Middle East, but the Kremlin and the White House disagreed on Thursday over the top priority for the talks. The White House insisted the meeting would focus on eastern Ukraine, where Russian-backed forces are fighting the Kiev government, prompting tough sanctions that have damaged Russia's
  
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• French unemployment rose again in August: govt

  24-09-2015 21:51 via news.yahoo.com
  
  The French government announced Thursday that unemployment resumed its dogged ascent in August following a slight -- and rare -- dip in July, as the country struggles to escape years of economic sluggishness. With the jobless rate currently at 10 percent in the eurozone's second-largest economy, President Francois Hollande has staked his political future on reducing unemployment, saying he will not stand for re-election in 2017 unless he reverses a trend that has generally been on the rise for t
  
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• UPDATE 4-Caterpillar slashes revenue forecast, cutting up to 10,000 jobs

  24-09-2015 21:48
  Sept 24 (Reuters) - Caterpillar Inc slashed its 2015 revenue forecast on Thursday and said it will cut as many as 10,000 jobs through 2018, joining a list of big U.S. industrial companies grappling...
  
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• U.S. business spending slips, new home sales rise in August

  24-09-2015 21:41 via news.yahoo.com
  
  By Jason Lange WASHINGTON (Reuters) - U.S. business investment fell slightly in August, excluding spending on aircraft and defense equipment, but new home sales rose, suggesting that global economic headwinds were doing little to impede U.S. growth. The U.S. economy is on track to grow 1.4 percent in the third quarter, the Atlanta Federal Reserve's GDPNow forecast model showed on Thursday. The recent trend in orders gives a good signal for economic growth in the third quarter after business inve
  
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• Oil up 1 percent; Cushing draw data offset by Wall Street drop

  24-09-2015 21:31 via news.yahoo.com
  
  Oil prices rose as much as 1 percent on Thursday, boosted by inventory draws at the U.S. crude futures' delivery hub although gains were capped by tumbling equity prices on Wall Street. Market intelligence firm Genscape estimated a drawdown of 625,000 barrels out of the Cushing, Oklahoma delivery point for U.S. crude in the week to Sept. 22. The Genscape estimate, coming after a stockpile drop of 462,000 barrels at Cushing reported by the U.S. Energy Information Administration (EIA) last week, d
  
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• Pacific trade deal close, but doubts linger: Chile trade head

  24-09-2015 21:05 via news.yahoo.com
  
  By Rosalba O'Brien SANTIAGO (Reuters) - The conditions are now present to finalize a Pacific trade deal, although talks would likely still go down to the wire, Chile's head of international trade told Reuters on Thursday. The United States has called negotiators from the 12 nations discussing the Trans-Pacific Partnership to a meeting in Atlanta next week in a bid to finish the pact that will cover 40 percent of the world economy. Since a meeting in Hawaii in July failed to clinch a deal, the me
  
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• UPDATE 2-U.S. court denies FTC request to stop Steris-Synergy merger

  24-09-2015 20:39
  WASHINGTON, Sept 24 (Reuters) - A federal court in Ohio refused on Thursday to stop a $1.9 billion purchase by U.S. medical technology provider Steris Corp of British sterilization services provider...
  
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• Abe vows focus on economy after contentious defense laws

  24-09-2015 20:25 via news.yahoo.com
  
  Prime Minister Shinzo Abe sought to draw attention back to his attempts to revive the economy on Thursday, after the government last week rammed through unpopular laws broadening the role of Japan's military. "From this very day, Abenomics is entering the second stage," Abe told reporters, adding the long-term goal was to boost Japan's economic growth by 20 percent to $5 trillion yen. "I would like to raise the clear target of 600 trillion yen in GDP," he told a press conference after he was re-
  
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• Talks with Varoufakis were "vain, pointless," EU's Moscovici says

  24-09-2015 20:16 via news.yahoo.com
  
  Europe's Economic Commissioner has slammed former Greek finance minister Yanis Varoufakis for his negotiating style during the Greek crisis, saying on Thursday he preferred working with his successor. "Mr Varoufakis wasn't (at the Eurogroupe meetings of finance ministers) to negotiate," Commissioner Pierre Moscovici said at a conference. "I'm happy that Euclid Tsakalotos is the new finance minister, because he is somebody we know," he added.
  
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• Brazil recession deeper than previously estimated: bank

  24-09-2015 20:07 via news.yahoo.com
  
  Brazil's Central Bank warned Thursday of a deeper-than-expected recession in the world's seventh-largest economy, with the darkening outlook sending the national currency plunging to new lows. The slew of bad figures hit currency markets: the real hit fresh lows against the US dollar, despite intervention by the Central Bank to try to limit the slide.
  
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• Beefing up advice options for workplace retirement plans

  24-09-2015 20:02
  CHICAGO (Reuters) - Would you like some advice with that 401(k) plan?
  
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• Tackle gender inequality at work to boost world economy by $12 trillion: report

  24-09-2015 19:52 via news.yahoo.com
  
  Tackling gender inequality and enabling more women to join the workforce could boost the world's economy by $12 trillion over the next decade, with India set to benefit the most, researchers said on Thursday. The world's economy could see this increase to its annual gross domestic product (GDP) by 2025 if each country managed to narrow the gender gap at the pace of the best-performing economy in their region, according to McKinsey Global Institute (MGI). "Capturing the economic benefits will mea
  
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• Wall Street falls as Caterpillar, health stocks weigh

  24-09-2015 19:32 via news.yahoo.com
  
  Investors were also cautious ahead of a speech by Federal Reserve Chair Janet Yellen, which could provide clues regarding the timing of an increase in interest rates. Caterpillar, the world's biggest mining and construction equipment maker, said it could cut up to 10,000 jobs and shut plants as it faces challenging conditions in key regions and the mining and energy sector. "The (Caterpillar) news is not helping matters, it's emblematic of a weaker global economy," said Joseph Quinlan, chief mar
  
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• Resuming their fall, European stocks close lower

  24-09-2015 19:18 via news.yahoo.com
  
  European stock markets closed lower Thursday following another volatile day of trading, as a spreading Volkswagen scandal offset positive German data. Investors were also awaiting an update on the outlook for US interest rates, with the euro up against the dollar ahead of a speech later in the day from Federal Reserve chief Janet Yellen. Frankfurt's DAX 30, meantime, shed 1.92 percent to 9,427.64 points, with scandal-generated pressure that had socked Volkswagen's stock this week spreading to fe
  
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• Rothschild banking dynasty quarrel over use of family name

  24-09-2015 19:15
  PARIS (Reuters) - Private bank and asset manager the Edmond de Rothschild Group said on Thursday it would press ahead with legal action against a rival branch of the banking dynasty over use of the...
  
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• European shares end lower amid concern over auto emissions scandal

  24-09-2015 18:57 via news.yahoo.com
  
  Federal Reserve Chair Janet Yellen sent Wall Street into the red. The euro zone's blue-chip Euro STOXX 50 index ended down 2 percent at 3,019,34 points. A recovery followed but was soon wiped out by uncertainty over the Fed's rate policy and now the car emissions scandal.
  
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• EU launches inquiry into web companies' online behavior

  24-09-2015 18:40 via news.yahoo.com
  
  By Julia Fioretti BRUSSELS (Reuters) - The European Commission on Thursday launched an inquiry into the behavior of online companies such as Google, Facebook and Amazon to try to gauge whether there is a need to regulate the web. It is not clear whether the inquiry will lead to any regulation of the Internet in the European Union, but it provides more evidence that mainly U.S. tech companies are coming under increasing scrutiny in Europe for issues ranging from their privacy practices to taxatio
  
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• Oil seesaws; Wall Street tumble offsets Cushing draw data

  24-09-2015 18:29 via news.yahoo.com
  
  By Barani Krishnan NEW YORK (Reuters) - Oil prices seesawed on Thursday as tumbling stock prices on Wall Street offset bullish sentiment from inventory draws at the U.S. crude delivery hub cited by a market data provider.
  
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• BRIEF-Judgement accepting early termination of Orco Property's safeguard plan becomes final

  24-09-2015 18:14
  * Judgement of the Paris Commercial Court accepting early
  termination of safeguard plan has not been opposed or appealed
  and thus became final
  
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• U.S. hosts meeting next week in bid to wrap up Pacific trade pact

  24-09-2015 17:57 via news.yahoo.com
  
  The United States has called ministers from the 12 nations negotiating a Pacific trade deal for a meeting Sept. 30 to Oct. 1 in a bid to finish the pact, a key part of the U.S. administration's engagement with Asia. The Trans-Pacific Partnership (TPP) seeks to cut trade barriers and set common standards for 40 percent of the world economy and will be a legacy-defining achievement for U.S. President Barack Obama. The U.S. Trade Representative said in a statement the United States would host the m
  
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• CFOs see earnings shenanigans in 20 percent of U.S. public firms

  24-09-2015 17:56
  (This story has been refiled to remove superfluous apostrophe from headline)
  
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• US new-home sales surge 5.7 percent in August to 7-year high

  24-09-2015 17:54 via news.yahoo.com
  
  WASHINGTON (AP) — Buoyed by steady job gains and low mortgage rates, Americans purchased new homes in August at the fastest pace in more than seven years.
  
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• FTSE ends lower as commodities stocks slump again

  24-09-2015 17:43
  LONDON Sept 24 (Reuters) - Britain's blue-chip share index fell on Thursday, with basic resources and energy companies coming under fresh selling pressure due to lingering concerns about demand for...
  
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• Wall Street falls sharply as Caterpillar weighs

  24-09-2015 17:25 via news.yahoo.com
  
  Caterpillar fell as much as 7.9 percent to its lowest level since 2010 after the world's biggest mining and construction equipment maker slashed its 2015 revenue forecast and said it could cut up to 10,000 jobs. "The (Caterpillar) news is not helping matters, it's emblematic of a weaker global economy," said Joseph Quinlan, chief market strategist for U.S. Trust, in New York. Caterpillar was the biggest drag on the Dow and pulled down shares of other industrial companies.
  
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• Millennial parents more likely to save for kids' college

  24-09-2015 17:24
  
  LOS ANGELES (Reuters) - Millennial parents are far more likely than their predecessors to save for their children's educations and far more of them want to pay the whole tab for college, according to...
  
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• Wall St joins global stocks slide; euro, bonds rise

  24-09-2015 17:09 via news.yahoo.com
  
  By Michael Connor NEW YORK (Reuters) - Stocks around the world fell for a fifth day on Thursday, sliding towards two-year lows, as worries lingered over global growth and as the scandal over Volkswagen's emissions test-cheating rattled Europe's carmakers. Government bonds prices rose on safety bids, while the dollar fell against the euro but jumped to a 13-year high against the Norwegian crown after a surprising cut in the oil producer's interest rates. Wall Street equity indexes fell more than
  
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• Wall Street joins global stocks slide; euro, bonds rise

  24-09-2015 17:08 via news.yahoo.com
  
  By Michael Connor NEW YORK (Reuters) - Stocks around the world fell for a fifth day on Thursday, sliding toward two-year lows, as worries lingered over global growth and as the scandal over Volkswagen's emissions test-cheating rattled Europe's carmakers. Government bonds prices rose on safety bids, while the dollar fell against the euro but jumped to a 13-year high against the Norwegian crown after a surprising cut in the oil producer's interest rates. Wall Street equity indexes fell more than 1
  
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• Average US rate on 30-year mortgages falls to 3.86 percent

  24-09-2015 16:21 via news.yahoo.com
  
  WASHINGTON (AP) — Average long-term U.S. mortgage rates declined this week following the Federal Reserve's decision to keep interest rates at record lows for now.
  
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• Britain's FTSE falls as commodities stocks slump again

  24-09-2015 16:13
  LONDON Sept 24 (Reuters) - Britain's blue-chip share index fell on Thursday, with basic resources and energy companies coming under fresh selling pressure due to lingering concerns about demand for...
  
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• Wall Street opens sharply lower as Caterpillar weighs

  24-09-2015 16:08 via news.yahoo.com
  
  Investors were also apprehensive ahead of a speech by Federal Reserve Chair Janet Yellen. Caterpillar fell 7 percent to its lowest level since 2010 after the company cut its 2015 revenue forecast and said it could cut up to 10,000 jobs. The stock was the biggest drag on the Dow and on the S&P 500 materials index, which was down 1.69 percent.
  
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• India backs down in row over tax on foreign funds

  24-09-2015 16:07 via news.yahoo.com
  
  India's finance ministry moved Thursday to resolve a simmering tax row that had seen foreign investment funds faced with having to pay billions of dollars in levies on past profits. The Minimum Alternative Tax (MAT) was introduced in 1998 targeting institutional investors that do not pay corporate income tax, but was not traditionally considered applicable to foreign firms with no base in India. The government said Thursday it would amend tax laws so that companies which do not have a permanent
  
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• European stocks resume fall

  24-09-2015 16:05 via news.yahoo.com
  
  European stock markets headed south Thursday in yet more volatile trading as a spreading Volkswagen scandal offset positive German data. Investors were meanwhile awaiting an update on the outlook for US interest rates, with the euro up against the dollar ahead of a speech later in the day from Federal Reserve chief Janet Yellen. Europe's main stock markets closed higher Wednesday, recovering some of the previous session's sharp losses.
  
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• U.S. business spending plans measure slips in August

  24-09-2015 15:49 via news.yahoo.com
  
  By Jason Lange WASHINGTON (Reuters) - A gauge of U.S. business investment plans fell slightly in August while the number of Americans filing new applications for jobless benefits barely rose last week, signs that global economic headwinds were doing little to impede U.S. growth. The Commerce Department said on Thursday capital goods orders excluding military wares and aircraft, a closely watched proxy for business spending plans, dropped 0.2 percent last month, a slightly bigger fall than analys
  
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• Wall Street opens lower as global growth concerns linger

  24-09-2015 15:35 via news.yahoo.com
  
  (Reuters) - U.S. stocks opened lower on Thursday on lingering concerns about global economic growth and ahead of a speech by Federal Reserve Chair Janet Yellen on inflation.
  
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• Nasdaq center aims to build relationships with startups

  24-09-2015 15:30 via news.yahoo.com
  
  SAN FRANCISCO (AP) — Nasdaq has long been known as the "tech-heavy" stock exchange, where some of Silicon Valley's best-known companies have gone to sell shares. Now, as it faces stiff competition from rival exchanges to lure the next hot IPO, it's reaching out to business startups before they go public.
  
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• RPT-Schindler says two Chinese managers detained for questioning

  24-09-2015 15:04
  ZURICH, Sept 24 (Reuters) - Two Chinese managers for the Schindler elevator company have been detained for questioning, the Swiss company said on Thursday, in a case linked to possible embezzlement...
  
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• World stocks slide for fifth straight day

  24-09-2015 15:00 via news.yahoo.com
  
  By Marc Jones LONDON (Reuters) - World stocks fell for the fifth straight day on Thursday, sliding back towards two-year lows on growing unease about global growth and as VW's emissions test-fixing scandal hit Europe's carmakers again. A 2.2 percent tumble for Tokyo's Nikkei as Japan returned from an extended break had set a gloomy tone in Asia and Europe's bourses and Wall Street futures were dragged back deep into red after an early foray higher. There had been some reassuring German and Frenc
  
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• Wall Street set to open lower ahead of Yellen's speech

  24-09-2015 14:57 via news.yahoo.com
  
  Wall Street was set to open lower on Thursday amid lingering concerns about global economic growth and ahead of a speech by Federal Reserve Chair Janet Yellen. Investors will look for clues regarding the timing of an interest rate hike when Yellen delivers a speech on inflation, a topic that is key to liftoff and one that has divided policymakers. "There is some apprehension ahead of Yellen's speech," said Scott Colyer, chief executive officer of Advisors Asset Management in Monument, Colorado.
  
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• Japan's Abe airs Abenomics 2.0 plan for $5 trillion economy

  24-09-2015 14:33 via news.yahoo.com
  
  TOKYO (AP) — Japan's Prime Minister Shinzo Abe, fresh from a bruising battle over unpopular military legislation, announced on Thursday an updated plan for reviving the world's third-largest economy, setting a GDP target of 600 trillion yen ($5 trillion).
  
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• Arch Coal debt swap deadline extended to Oct 26

  24-09-2015 14:30
  Sept 24 (Reuters) - Arch Coal Inc said the deadline for its debt exchange plan had been extended again, to Oct. 26, as a court hearing on a legal battle between its creditors is scheduled for Friday.
  
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• Zimbabwe's 'Crocodile' cements position as Mugabe heir

  24-09-2015 14:29 via news.yahoo.com
  
  By MacDonald Dzirutwe HARARE (Reuters) - Zimbabwe Vice President Emmerson Mnangagwa has cemented his status as heir apparent to 91-year-old Robert Mugabe after getting close allies appointed to important cabinet posts and securing the tasks of reforming the economy and legal system. A secretive confidante nicknamed 'Crocodile' in the Shona language, Mnangagwa was appointed Mugabe's official deputy in December after the sacking of Joice Mujuru, who had held the position for 10 years. Mugabe has r
  
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