Finance news

• Wall Street says ready if Joaquin hits New York

  01-10-2015 23:42 via news.yahoo.com
  
  By John McCrank NEW YORK (Reuters) - Wall Street has a new risk on its radar: Hurricane Joaquin. The Category 4 hurricane, now pummeling the Bahamas, is the first major storm to threaten the U.S. East Coast since Superstorm Sandy devastated New York and New Jersey in October 2012. Joaquin's trajectory is still uncertain - it could yet cut a path out to sea - but New York's financiers are aiming to keep trading should it strike early next week.
  
  Read more

• Wall Street ends up slightly, investors await jobs data, earnings

  01-10-2015 23:18 via news.yahoo.com
  
  Many investors were holding fire ahead of Friday's crucial U.S. non-farm payrolls data and the third-quarter earnings season which starts with Alcoa Inc's report on Oct. 8. "We're going to get a number investors can sink their teeth into tomorrow and next week kicks off earnings season which is vitally important to the direction of stocks for the rest of the year," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. The jobs number should give investors reassurance about th
  
  Read more

• Machinery makers smell opportunity as China's farms think big

  01-10-2015 23:15 via news.yahoo.com
  
  The world's largest makers of tractors and combines are finding a rare opportunity for growth in China despite a sharp slowdown in the world's No. 2 economy, with big farm machines in demand as the rural labor force shrinks and plot sizes grow. For manufacturers like U.S.-based AGCO and Deere & Co and Italy's CNH Industrial , Chinese demand for big machines could help to offset weakness in North America and Europe, where farm incomes are declining with global commodity prices. "People are ju
  
  Read more

• US stocks end little changed before monthly jobs report

  01-10-2015 22:58 via news.yahoo.com
  
  NEW YORK (AP) — A late turn gave the stock market a meagre gain to start the month Thursday, a day after it finished its worst quarter in four years.
  
  Read more

• Advertisement

• Exclusive: Vivendi moves to raise Telecom Italia stake to around 19 percent - sources

  01-10-2015 22:56
  
  MILAN/PARIS (Reuters) - France's Vivendihas taken steps to raise its stake in Telecom Italiato around 19 percent of the ordinary share capital, said four people familiar with the matter, in a bid...
  
  Read more

• Canada auto sales rise in September

  01-10-2015 22:43 via news.yahoo.com
  
  (Reuters) - Auto sales in Canada rose 3.7 percent in September, according to data compiled by DesRosiers Automotive Consultants on Thursday, a sign that parts of the economy are strong even though the broader Canadian economy contracted in the first half. Total light vehicle sales rose to 174,337 cars and trucks, as Fiat Chrysler Automobiles NV , Ford Motor Co and General Motors Co all reported higher Canadian sales for the month. "This week Statistics Canada released a positive report on the Ca
  
  Read more

• EPA sets new ozone standard, disappointing all sides

  01-10-2015 22:41 via news.yahoo.com
  
  WASHINGTON (AP) — The Obama administration on Thursday established stricter limits on the smog-causing pollution linked to asthma and respiratory illness, drawing swift condemnation from business leaders and Republicans who warned of damage to the economy.
  
  Read more

• Fed's Williams: don't let the economy 'party' go on too long

  01-10-2015 22:28 via news.yahoo.com
  
  Letting the U.S. economy run at "high-pressure" for a while by keeping interest rates relatively low will help push inflation back up to the Federal Reserve's 2-percent goal faster, a top Fed official said on Thursday. "It’s okay to have the party.
  
  Read more

• Advertisement

• Stocks edge up, commodities slip amid China, Fed uncertainty

  01-10-2015 22:18 via news.yahoo.com
  
  Global equities rose modestly on Thursday in choppy trading and as investors continued to examine the depths of China's slowdown and search for clarity on the timing of an interest rate hike from the U.S. Federal Reserve. Wall Street inched up as economic data on the labor market and manufacturing gave mixed messages on the state of the U.S. economy, ahead of a key payrolls report on Friday that may provide clues for when the Fed will hike rates. The Purchasing Managers' Index indicated China's
  
  Read more

• Global stocks edge up, commodities slip amid China, Fed uncertainty

  01-10-2015 22:16 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - Global equities rose modestly on Thursday in choppy trading and as investors continued to examine the depths of China's slowdown and search for clarity on the timing of an interest rate hike from the U.S. Federal Reserve. Wall Street inched up as economic data on the labour market and manufacturing gave mixed messages on the state of the U.S. economy, ahead of a key payrolls report on Friday that may provide clues for when the Fed will hike rates. "Given
  
  Read more

• Exclusive - China's Anbang in the lead to acquire Fidelity & Guaranty Life: sources

  01-10-2015 22:11
  (Reuters) - Anbang Insurance Group Co is in the lead to acquire annuities and life insurance company Fidelity & Guaranty Life , according to people familiar with the matter, as more Chinese insurers...
  
  Read more

• S&P 500, Nasdaq end up; eyes on jobs data

  01-10-2015 22:07 via news.yahoo.com
  
  NEW YORK (Reuters) - The S&P 500 and Nasdaq closed slightly higher on Thursday in a choppy start to the fourth quarter as investors waited for the monthly U.S. jobs report and the start of earnings season.
  
  Read more

• MONEY MARKETS-U.S. repo rates fall as new quarter starts

  01-10-2015 21:41 via news.yahoo.com
  
  The overnight rate on repurchase agreements was last quoted at 0.15 percent to 0.20 percent, down from 0.40 percent late on Wednesday, ICAP (LSE: IAP.L - news) data showed. Towards the end of prior quarter, money market funds and other investors reduced their repo holdings in favor of near risk-free Treasury bills and reverse repurchase agreements offered by the Fed. In the $5 trillion repo market, Wall Street dealers borrow from money funds and other investors with Treasuries and other securiti
  
  Read more

• Gundlach's DoubleLine Capital posts 20th month of inflows in Sept

  01-10-2015 21:30
  
  NEW YORK (Reuters) - DoubleLine Capital, whose co-founder Jeffrey Gundlach is widely followed for his investment calls, on Thursday reported $1.1 billion in net additional investments in September,...
  
  Read more

• Wall Street dip led by utilities, factory activity slows

  01-10-2015 21:18 via news.yahoo.com
  
  Oil prices settled down on Thursday after altered forecasts for the path of hurricane Joaquin snuffed out an early rally. "There is a litany of reasons why people are more comfortable being out of the market," said Peter Kenny, equity market strategist at Kenny & Co LLC, in Denver. "We'll reach an exhaustion selloff in the fourth quarter, then you'll see a reflex rally," Kenny added.
  
  Read more

• Fed's Williams repeats call for rate hike 'sometime' in 2015

  01-10-2015 20:37 via news.yahoo.com
  
  SALT LAKE CITY (Reuters) - San Francisco Federal Reserve Bank President John Williams on Thursday renewed his call for an interest-rate hike "sometime later this year," citing near-full employment and rapidly rising house prices that may be a sign of excessive economic optimism.
  
  Read more

• UPDATE 1-JPMorgan prevails in $8.6 bln Lehman creditor lawsuit

  01-10-2015 20:36
  NEW YORK, Oct 1 (Reuters) - JPMorgan Chase & Coprevailed in an $8.6 billion lawsuit brought on behalf of Lehman
  Brothers Holdings Inc creditors who said the bank abused its
  power by draining Lehman...
  
  Read more

• Stocks little changed as China, Fed questions linger

  01-10-2015 20:33 via news.yahoo.com
  
  Global equities were little changed on Thursday after their worst quarter in four years but commodities eased from earlier highs, as investors continued to question the depths of China's slowdown and the timing of an interest rate hike from the U.S. Federal Reserve. The Purchasing Managers' Index data indicated China's manufacturing shrank again in September, suggesting the world's second-largest economy is still cooling more rapidly than expected a few months ago, but kept fears of a hard landi
  
  Read more

• Stocks, commodities pull back over China, Fed questions

  01-10-2015 20:33 via news.yahoo.com
  
  Global equities edged lower on Thursday and commodities retreated from early gains as investors continued to question the depths of China's slowdown and the timing of an interest rate hike from the U.S. Federal Reserve. The Purchasing Managers' Index indicated China's manufacturing shrank again in September, suggesting the world's second-largest economy is still cooling more rapidly than expected a few months ago, but kept fears of a hard landing for the world's second-largest economy at bay. Ch
  
  Read more

• NYSE says ready for possibility of Hurricane Joaquin hitting NYC

  01-10-2015 20:32 via news.yahoo.com
  
  NEW YORK (Reuters) - NYSE Group, which is owned by Intercontinental Exchange Inc , said on Thursday it anticipates U.S. exchanges will be open for normal trading sessions on Monday if Hurricane Joaquin makes landfall on the U.S. East Coast.
  
  Read more

• Atlanta Fed slashes third quarter view on U.S. economic growth

  01-10-2015 20:09 via news.yahoo.com
  
  The U.S. economy is on track to grow 0.9 percent in the third quarter after a bigger-than-expected widening of the trade gap for goods in August, the Atlanta Federal Reserve's GDPNow forecast model showed on Thursday. This was a much slower rate from the regional Fed bank's prior estimate of 1.8 percent on Monday, the Atlanta Fed said on its website. The advance August trade reading, which showed a deficit of $67.187 billion which was the largest since March, led the regional Fed's program to es
  
  Read more

• U.S. leveraged loan lending slumps in volatile third quarter

  01-10-2015 19:42
  NEW YORK (Reuters) - Market volatility drove US syndicated lending down 29% in the third quarter from the prior quarter, and year-to-date funding down 12% to a three-year low, Thomson Reuters LPC...
  
  Read more

• U.S. political pundits' careers began with paper routes, stocking shelves

  01-10-2015 19:36
  These days, it is very likely a political pundit, weighing in on the 2016 presidential campaign. They have become stars in their own right.
  
  Read more

• UPDATE 1-Russia's Aeroflot says drops plans to acquire Transaero

  01-10-2015 19:34
  MOSCOW, Oct 1 (Reuters) - Russian state airline Aeroflot
  said on Thursday it would not proceed with the
  acquisition of struggling competitor Transaero after
  its rival's shareholders failed to...
  
  Read more

• UPDATE 2-Dunkin' Donuts reports slowing growth in U.S. comparable sales

  01-10-2015 19:21
  * Shares fall as much as 12.7 pct to 9-month low (Adds details; updates shares)
  
  Read more

• Allianz's El-Erian says emerging markets 'unhinged': CNBC

  01-10-2015 19:18
  NEW YORK (Reuters) - Mohamed El-Erian, chief economic adviser at Allianz SE, said investors should look for opportunities in emerging markets, which have become "unhinged."
  
  Read more

• UPDATE 3-Altice shares tumble as Cablevision deal financing completed

  01-10-2015 19:15
  PARIS, Oct 1 (Reuters) - European telecoms company Altice completed a share sale on Thursday to fund its takeover of U.S.-based Cablevision, prompting a steep drop in its shares as some investors...
  
  Read more

• Russia's Aeroflot says drops plans to acquire Transaero

  01-10-2015 18:59
  MOSCOW, Oct 1 (Reuters) - Russian state airline Aeroflot
  said on Thursday it had rejected an offer to acquire
  struggling competitor Transaero after its rival's
  shareholders failed to present...
  
  Read more

• Market turmoil takes toll on venture-backed IPOs in U.S.

  01-10-2015 18:50
  
  SAN FRANCISCO (Reuters) - Initial public offerings by start-up companies with venture backing fell to 13 last quarter, down from 29 the previous quarter and 24 a year earlier, as market turmoil...
  
  Read more

• Ferrari to set listing price range within days: source

  01-10-2015 18:32
  
  MILAN (Reuters) - Luxury sportscar maker Ferrari is likely to set a price range for its much anticipated initial public offering (IPO) in New York within days, possibly as early as Friday, a source...
  
  Read more

• JPMorgan prevails in $8.6 bln Lehman lawsuit

  01-10-2015 18:18
  NEW YORK, Oct 1 (Reuters) - A federal judge ruled in favor
  of JPMorgan Chase & Co in an $8.6 billion lawsuit
  brought on behalf of Lehman Brothers Holdings Inc creditors.
  
  Read more

• Credit Suisse granted exemption to continue U.S. pension business

  01-10-2015 18:13
  
  NEW YORK (Reuters) - The U.S. Department of Labor on Thursday said it granted Credit Suisse Group AG an exemption from certain restrictions stemming from its guilty plea to helping Americans evade...
  
  Read more

• TSX slides in choppy trading; energy rally loses steam

  01-10-2015 18:08 via news.yahoo.com
  
  TORONTO (Reuters) - Canada's main stock index fell on Thursday, as an early rally among oil and gas names quickly lost steam and trading moves mirrored equity losses on Wall Street. The TSX had capped off a volatile third quarter in the previous session with a 2 percent rise and looked set to extend those gains, but the moves were short lived. Investor sentiment remained cautious over China's economic growth and the timing of an interest rate hike by the Federal Reserve. At 11:43 a.m. EDT (1543
  
  Read more

• FTSE outperforms Europe but Wall Street fall trims gain

  01-10-2015 18:08 via news.yahoo.com
  
  By Alistair Smout and Kit Rees LONDON (Reuters) - UK shares outperformed their European counterparts on Thursday as mining and oil and gas companies rose, although weakness on Wall Street trimmed the gains. The blue-chip FTSE 100 index closed just 10.86 points higher, up 0.2 percent at 6,072.47 points, having been up by more than 1 percent for most of the session. Mining group Glencore epitomised volatility in the broader market.
  
  Read more

• U.S. factories show vulnerability to chill in global economy

  01-10-2015 18:07 via news.yahoo.com
  
  By Jason Lange WASHINGTON (Reuters) - The pace of growth at U.S. factories slowed in September, a sign that the chill falling over the global economy could complicate the Federal Reserve's plans to raise interest rates. This is causing headaches at the Fed, which cited concerns last month about "global economic and financial developments" when it surprised much of Wall Street by holding off on hiking rates. The Institute for Supply Management (ISM) said its index of national factory activity fel
  
  Read more

• Britain's FTSE outperforms Europe but Wall Street fall trims gain

  01-10-2015 18:07 via news.yahoo.com
  
  UK shares outperformed their European counterparts on Thursday as mining and oil and gas companies rose, although weakness on Wall Street trimmed the gains. The blue-chip FTSE 100 index closed just 10.86 points higher, up 0.2 percent at 6,072.47 points, having been up by more than 1 percent for most of the session. Mining group Glencore epitomised volatility in the broader market.
  
  Read more

• South African funds to fight for Jo'burg listing in SABMiller deal

  01-10-2015 17:58 via news.yahoo.com
  
  By Tiisetso Motsoeneng and Martinne Geller JOHANNESBURG/LONDON (Reuters) - South African shareholders of SABMiller are prepared to fight for a continued Johannesburg stock market listing if the brewer gets taken over by Anheuser-Busch InBev so they can benefit from the future growth of a new global drinks giant. AB InBev, the world's largest brewer, said last month it had approached SABMiller, the number two, about a takeover that would create a group with a market value of around $275 billion.
  
  Read more

• Global stocks little changed as China, Fed questions linger

  01-10-2015 17:52 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - Global equities were little changed on Thursday after their worst quarter in four years but commodities eased from earlier highs, as investors continued to question the depths of China's slowdown and the timing of an interest rate hike from the U.S. Federal Reserve. The Purchasing Managers' Index data indicated China's manufacturing shrank again in September, suggesting the world's second-largest economy is still cooling more rapidly than expected a few
  
  Read more

• Wall Street slips as Apple falls, factory activity slows

  01-10-2015 17:44 via news.yahoo.com
  
  Apple was down 2.2 percent at $107.83 on a report that chip suppliers were concerned the iPhone maker would cut chip orders for the fourth quarter. The Institute for Supply Management's (ISM) index of national factory activity fell to 50.2 in September, its lowest since May 2013. Mixed signals from the data could complicate the Federal Reserve's plans to raise interest rates this year.
  
  Read more

• US auto sales soar again in September

  01-10-2015 17:15 via news.yahoo.com
  
  Big increases for sport utility vehicles and other large autos helped carmakers score another robust month of US sales in September, according to their data released Thursday. Gains year-over-year in sales were double-digit strong at General Motors (+12.5 percent), Ford (+23 percent) and Fiat Chrysler (+14 percent). Strong auto sales have been a bright spot for the US economy, with vehicles leaving dealerships at a rate not seen since before the 2008 financial crisis.
  
  Read more

• UK payments firm Worldpay opens books for UK listing - bookrunner

  01-10-2015 17:13 via news.yahoo.com
  
  Books have opened for the London stock market flotation of UK payments processing firm Worldpay, with the company seeking a market capitalisation of up to 5.2 billion pounds, a bookrunner said on Thursday. The company, owned by private equity firms Advent and Bain, said in September that it would seek to raise net proceeds of around 890 million pounds to pay down debt. Worldpay expects to reduce its net debt from 2.345 billion pounds to around 1.5 billion pounds, said a source close to the compa
  
  Read more

• Is Now The Time To Invest In HSBC Holdings plc, Standard Chartered plc And Secure Trust Bank plc

  01-10-2015 17:08 via news.yahoo.com
  
  Stock market turmoil could have uncovered value in HSBC Holdings plc (LON: HSBA), Standard Chartered plc (LON: STAN) and Secure Trust Bank plc (LON: STB)
  
  Read more

• U.S. factories, labor market give conflicting signals

  01-10-2015 16:43 via news.yahoo.com
  
  By Jason Lange WASHINGTON (Reuters) - The pace of growth at U.S. factories slowed in September while new jobless claims pointed to a tightening labor market, giving mixed messages on the economy's health that could complicate the Federal Reserve's plans to raise interest rates. The Institute for Supply Management (ISM) said on Thursday its index of national factory activity fell to 50.2, its lowest since May 2013 and just below the median forecast in a Reuters poll. More recently, a slowdown in
  
  Read more

• South Africa's state pension fund says SABMiller "must remain" on Joburg bourse

  01-10-2015 16:36 via news.yahoo.com
  
  The chief executive of South African state-owned pension fund said on Thursday that SABMiller must remain listed on the Johannesburg exchange if the brewer gets taken over by Anheuser-Busch InBev. SABMiller, with a market capitalization of 1.3 trillion rand ($94.20 billion), is the largest company on the Johannesburg Stock Exchange, accounting for 12 percent of its value. "SAB is a very important company in the South African economy and it very significant to the JSE.
  
  Read more

• European equities enter fourth quarter mixed

  01-10-2015 16:29 via news.yahoo.com
  
  Europe's stock markets began the final quarter of the year on a mixed note Thursday as investors welcomed improving Chinese data but remained cautious on the eve of a key US jobs report. European markets had pushed higher in morning trading, cheered by a modest improvement in an official gauge of Chinese factory activity that sent Asian equities and emerging market currencies rallying for a second straight day. China's Purchasing Managers' Index (PMI) of manufacturing activity in September came
  
  Read more

• Dunkin' Donuts to shut 100 U.S. stores, shares tumble

  01-10-2015 16:28
  Oct 1 (Reuters) - Dunkin' Brands Group Inc said it would shut 100 Dunkin' Donuts stores in the United States in 2015 and 2016, sending the company's shares down almost 13 percent on Thursday.
  
  Read more

• Average US rate on 30-year mortgages eases to 3.85 percent

  01-10-2015 16:28 via news.yahoo.com
  
  WASHINGTON (AP) — Average long-term U.S. mortgage rates eased slightly this week, continuing at low levels to entice potential homebuyers.
  
  Read more

• Glencore resumes slide despite investor meeting, John Mack share purchase

  01-10-2015 16:21 via news.yahoo.com
  
  Glencore's share price eased again on Thursday despite the company's assurances to investors that its debt-cutting plans remain on track and a decision by board member and legendary banker John Mack to buy $600,000 worth of stock. Battered by a collapse in global commodity prices over the past year, the share price has lost some 70 percent this year, nearly half of that on Monday alone. Earlier the commodities trading and mining giant said Mack, a former chief executive of Wall Street bank Morga
  
  Read more

• Morgan Stanley shuffles key executives to trading, investment management roles

  01-10-2015 16:17
  (Reuters) - Morgan Stanley promoted two key executives to new roles within trading and investment management, according to an internal memo sent to employees on Thursday.
  
  Read more

• Wall Street slips as Apple shares fall

  01-10-2015 16:14 via news.yahoo.com
  
  U.S. stocks fell in early trading on Thursday as a sharp decline in Apple's shares weighed on the three major indexes. Apple was down 2.1 percent at $107.9 at 10:06 a.m. ET, erasing opening gains for U.S. stocks. "Historically, the third quarter tends to be a difficult quarter and the fourth quarter tends to be the best quarter of the year," said Randy Frederick, managing director of trading and derivatives for Charles Schwab in Austin, Texas.
  
  Read more

Follow @FinanceUSA_News on Twitter!