Finance news

• US stocks end week higher despite rising gloom

  02-10-2015 23:55 via news.yahoo.com
  
  Wall Street stocks closed the week on a positive note thanks to a late-afternoon rally Friday, but a weak US jobs report added to worries that the economy is slowing. The benign tally belied the rising pessimism that the US economy will not escape the ripple effects of a slowing China and a continually sluggish Europe. The Labor Department estimated the US economy added just 142,000 jobs in September, well below analyst estimates of 205,000.
  
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• UPDATE 2-Brazil's Rousseff bars fiscal 'backpedaling' ahead of court ruling

  02-10-2015 23:43
  BRASILIA, Oct 2 (Reuters) - Brazilian President Dilma Rousseff on Friday barred government delays in repaying state-run banks, in an attempt to strengthen her defense ahead of a court ruling on such...
  
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• Bleak US jobs report clouds Fed rate hike

  02-10-2015 23:34 via news.yahoo.com
  
  A bleak September jobs report raised concerns about the US economy's resilience to the global slowdown and questions about the Federal Reserve's plan to lift interest rates this year. US job growth faltered in September and the labor market weakened across the board, the Labor Department said. The US economy added a disappointing 142,000 jobs in September, well below analyst estimates of 205,000.
  
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• Investors brace for stocks to fall again ahead of earnings

  02-10-2015 23:08 via news.yahoo.com
  
  By David Randall NEW YORK (Reuters) - The global market volatility of the past month that sent U.S. stocks to their worst quarter in four years shows no signs of letting up just because the calendar turned to October. Investors say they are bracing for another leg down in the S&P 500 stock index despite its positive showing last week by increasing cash and other defensive positions in their portfolios. "Do I think we go into a bear market?
  
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• Bad data but at least we’ve got the Fed: James Saft

  02-10-2015 23:08
  
  (Reuters) - The U.S. jobs data were a bust, China remains a threat, the Fed won’t hike until, well, don’t ask, and bad news is good news for the stock market once again.
  
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• Wall St Week Ahead-Investors brace for stocks to fall again ahead of earnings

  02-10-2015 23:04
  NEW YORK, Oct 2 (Reuters) - The global market volatility of the past month that sent U.S. stocks to their worst quarter in four years shows no signs of letting up just because the calendar turned to...
  
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• CANADA FX DEBT-C$ rallies as dismal U.S. data casts doubt on Fed hike; oil up

  02-10-2015 23:02
  (Updates with strategist comment, details, closing figures) * Canadian dollar at C$1.3164 or 75.96 U.S. cents * Bond prices higher across the maturity curve By Solarina Ho TORONTO, Oct 2 (Reuters) -...
  
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• COLUMN-Bad data but at least we've got the Fed: James Saft

  02-10-2015 23:00
  Oct 2 (Reuters) - The U.S. jobs data were a bust, China remains a threat, the Fed won't hike until, well, don't ask, and bad news is good news for the stock market once again.
  
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• Wall Street ends higher in sharp turnaround

  02-10-2015 22:58 via news.yahoo.com
  
  The three major indexes clawed back losses of more than 1.5 percent as poor payroll data hinted at economic weakness while strengthening the argument for delaying a long-awaited interest rate hike. "The silver lining with this disappointing jobs number is that possibly this could push the rate hike off to the first quarter of 2016," said Jake Dollarhide, chief executive of Longbow Asset Management in Tulsa. Analysts on average expect third-quarter earnings to decline 4.2 percent, according to Th
  
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• RPT-Obama says raising debt ceiling has to get done in the next five weeks

  02-10-2015 22:49
  WASHINGTON, Oct 2 (Reuters) - President Barack Obama said on Friday negotiations to raise the U.S. government's debt ceiling should be completed in the next five weeks and that interfering with the...
  
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• DoubleLine's Gundlach: risk assets globally face 'another wave down'

  02-10-2015 22:35
  
  NEW YORK (Reuters) - DoubleLine Capital co-founder Jeffrey Gundlach, widely followed for his investment calls, warned after a weak non-farm payrolls report on Friday that the U.S. equity market as...
  
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• An ailing global economy starts to weigh on US job market

  02-10-2015 22:25 via news.yahoo.com
  
  WASHINGTON (AP) — A sagging global economy has finally caught up with the United States.
  
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• UPDATE 1-Speculators lift net US dollar longs in latest week-CFTC, Reuters

  02-10-2015 22:23
  (Adds details about dollar, sterling contracts; adds table) Oct 2 (Reuters) - Speculators increased bullish bets on the U.S. dollar, after hitting their lowest level in more than a year in the...
  
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• McCarthy appointment would not stop California high speed rail-officials

  02-10-2015 22:23
  SACRAMENTO, Oct 2 (Reuters) - California high-speed rail officials on Friday downplayed the impact the possible appointment of long-time project opponent and California Rep. Kevin McCarthy to Speaker...
  
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• UPDATE 1-Prick asset bubbles with rates? Fed officials split

  02-10-2015 22:21
  * Rosengren, Fischer opposing Kocherlakota, Mester, Kohn (Adds Fischer, other comments, background)
  
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• Global stocks, bond prices climb after weak payrolls report

  02-10-2015 22:20 via news.yahoo.com
  
  Bond prices climbed on Friday after a weak U.S. employment report increased worry about slowing global growth, while global equities were able to rebound from an initial selloff to close with strong gains. The economy created 142,000 jobs in September, well short of the 203,000 forecast, and August numbers were revised sharply lower to show only 136,000 jobs, the U.S. Labor Department said. Bond prices jumped, with benchmark U.S. Treasury yields falling to their lowest level in slightly over 5 m
  
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• GLOBAL MARKETS-Stocks, bond prices climb after weak payrolls report

  02-10-2015 22:19
  * Oil advances on rig count data (Adds close of U.S. markets, oil settlement prices)
  
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• Stock market shakes of an early stumble, ends higher

  02-10-2015 22:14 via news.yahoo.com
  
  NEW YORK (AP) — The stock market reversed an early stumble and ended higher, led by gains in energy companies.
  
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• Obama urges Congress to pass funding bill for fiscal year

  02-10-2015 22:14 via news.yahoo.com
  
  WASHINGTON (Reuters) - President Barack Obama on Friday urged the U.S. Congress to approve a bill to fund the government for the current fiscal year to avoid doing damage to the economy at a time global growth is slowing. "I will not sign another short-sighted spending bill," Obama told a White House news conference. He said a short-term spending bill passed by lawmakers this week set up an opportunity for a new crisis before Christmas. (Editing by Sandra Maler)
  
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• Commodity stocks lead Wall Street comeback

  02-10-2015 22:12 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stock indices jumped over 1 percent on Friday, reversing a sharp decline, after worries about the economy gave way to a robust rally in beaten-down energy and materials stocks.
  
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• TREASURIES-U.S. bond prices rise on weak U.S. jobs data

  02-10-2015 22:11
  * Five-year yield falls to lowest in seven months (Updates market action, adds quotes)
  
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• Scottrade says victim of hackers who targeted financial firms

  02-10-2015 22:01
  (Reuters) - Discount broker Scottrade said on Friday that it was the victim of a cyber attack from late 2013 to early 2014 that compromised client names and addresses in a database with information...
  
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• Wall Street bounces back as energy stocks rally

  02-10-2015 21:00 via news.yahoo.com
  
  The three major indexes clawed back losses of more than 1.5 percent as investors weighed poor payroll data that hinted at economic weakness but also strengthened the argument for delaying a long-awaited interest rate hike. "The uncertainty has certainly increased," said Art Hogan, chief market strategist at Wunderlich Securities in New York.
  
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• Judges reject bonus plans for executives at bankrupt companies

  02-10-2015 21:00
  WILMINGTON, Del, Oct 2 (Reuters) - A U.S. judge on Friday
  rejected a plan to pay millions of dollars in bonuses to top
  executives of bankrupt miner Molycorp Inc, two days
  after GT Advanced...
  
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• Global stocks, bond prices rise after weak U.S. jobs report

  02-10-2015 20:34 via news.yahoo.com
  
  Bond prices jumped on Friday after a weak U.S. employment report increased worry about slowing global growth, while U.S. and European equities were able to rebound from earlier declines and rise modestly. The economy created 142,000 jobs in September, well short of the 203,000 forecast, and August numbers were revised sharply lower to show only 136,000 jobs, the U.S. Labor Department said. Bond prices jumped, with benchmark U.S. Treasury yields falling to their lowest level in slightly over 5 mo
  
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• S&P raises Spain's credit rating one notch ahead of general election

  02-10-2015 20:31 via news.yahoo.com
  
  Standard & Poor's raised Spain's debt rating on Friday by one notch to BBB+, lauding government labour market reforms that improved the country's economic prospects, handing Prime Minister Mariano Rajoy a fillip a day after he called a general election for December 20. Along with announcing the upgrade with a stable outlook, the agency raised its forecasts for annual growth in Spain in 2015-2017 to an average of 2.7 percent, from 2.2 percent in its previous forecasts made in April, reflectin
  
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• Supermarket chain Albertsons hopes to raise $1.7 billion in IPO

  02-10-2015 20:10
  (Reuters) - Albertsons Cos Inc [ABS.N], the No.2 U.S. grocery chain, said it hoped its initial public offering would raise $1.7 billion, an ambitious target at a time of intensifying industry...
  
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• Exclusive: Sycamore Partners' latest bid for Chico's teeters - sources

  02-10-2015 19:53
  (Reuters) - Sycamore Partners came close to an agreement to acquire U.S. women's apparel maker Chico's FAS Inc late last month, but financing and valuation concerns have since weighed on the...
  
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• Wall St. turns positive as health, energy stocks rally

  02-10-2015 19:32 via news.yahoo.com
  
  The report, the last before the Federal Reserve's meeting at the end of October, appeared to belie Fed Chair Janet Yellen's comment last week that the economy was strong enough to withstand a rate hike this year.
  
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• Weak jobs report sends bond prices higher, dollar lower

  02-10-2015 19:28 via news.yahoo.com
  
  NEW YORK (AP) — A weak report on the U.S. jobs market pushed bond prices up and the dollar lower on Friday. After an initial dive, the stock market turned higher in the afternoon, as traders anticipated that the slowdown in hiring would keep the Federal Reserve from raising a key interest rate off a record low.
  
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• UPDATE 2-British steel crisis deepens as SSI UK goes into liquidation

  02-10-2015 19:21
  * Union seeks legal advice on SSI's lack of consultation(Adds government comment/details)
  
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• Caesars casino operator, creditors face off over bankruptcy date

  02-10-2015 19:12
  * Creditors want to free up a $468 million payment from Oct.
  2014
  
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• S&P raises Spain's credit rating one notch

  02-10-2015 19:11 via news.yahoo.com
  
  Standard & Poor's raised Spain's credit rating by one notch to 'BBB+' on Friday, citing government economic reforms that have boosted economic growth, a day after Prime Minister Mariano Rajoy announced the next general election will be held on December 20. "Spain's economy has benefited from two rounds of labour market reforms since 2010, which have improved competitiveness of the export and services sector, and from easier financial conditions," it said in a statement. "Some of Spain's grow
  
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• European equities shake off US jobs data

  02-10-2015 18:57 via news.yahoo.com
  
  Major European stock indices turned sharply lower after data showed the US economy added far fewer jobs than expected in September and hiring was weaker in the prior two months. The US economy added just 142,000 jobs last month, far short of estimates of around 205,000 jobs. The Labor Department also trimmed its estimates for jobs growth in July and August.
  
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• Stocks, dollar slip after weak jobs report suggests slowdown

  02-10-2015 18:25 via news.yahoo.com
  
  NEW YORK (AP) — A weak report on the U.S. jobs market pushed the stock market slightly lower Friday. U.S. employers cut back sharply on hiring in September and added fewer jobs in July and August than previously thought.
  
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• Fading US job growth casts doubt on 2015 rate hike

  02-10-2015 18:23 via news.yahoo.com
  
  US job growth faltered in September and the labor market weakened across the board, official data showed Friday, raising concerns about the economy's resilience to the global slowdown. The weak jobs report also cast doubt on the Federal Reserve plan to raise zero-level interest rates this year, with the data suggesting the economy may be too weak to weather a tightening of credit. The Labor Department reported employers added a disappointing 142,000 jobs in September, well below analyst estimate
  
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• Covestro gets 4.9 billion euro price tag after lowering expectations

  02-10-2015 18:16
  FRANKFURT (Reuters) - Shares in Bayer's Covestro will sell for 24 euros ($27) apiece in its stock market flotation, Covestro said on Friday, valuing the plastics and specialty chemicals maker at 4.86...
  
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• UPDATE 3-Amicus to delay filing for U.S. marketing rights for lead drug

  02-10-2015 18:15
  Oct 2 (Reuters) - Amicus Therapeutics Inc said it was unlikely to submit a U.S. marketing application for its lead drug, to treat Fabry disease, by the end of 2015 as expected, after U.S. health...
  
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• Britain's FTSE ends higher, pares gains after weak U.S. data

  02-10-2015 18:07
  * Experian drops after T-Mobile data breach (Updates prices at close, adds detail)
  
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• Wall Street slips as jobs data arouses growth concerns

  02-10-2015 18:01 via news.yahoo.com
  
  With job growth slowing for the last three months, economists said the Federal Reserve was now unlikely to raise interest rates this year. The report, the last before the Fed's meeting at the end of October, appeared to belie Fed Chair Janet Yellen's comment last week that the U.S. economy was strong enough to withstand a rate hike this year. "The Fed has to be off the table until 2016 now," said Jonathan Lewis, chief investment officer at Samson Capital Advisors in New York.
  
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• European stocks bounce back to close higher

  02-10-2015 17:56 via news.yahoo.com
  
  London (AFP) - Europe's main stock markets rallied in late trading to close higher on Friday, recovering from a scare over slow US job creation.
  
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• Glencore in talks on agriculture assets: sources

  02-10-2015 17:52
  
  LONDON/TORONTO (Reuters) - Glencore is in talks with a Saudi Arabian sovereign wealth fund and China's state-backed grain trader COFCO, along with Canadian pension funds, to sell a stake in its...
  
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• IdeaFestival: 8 ways to improve economic outlook in the US

  02-10-2015 17:42 via news.yahoo.com
  
  At IdeaFestival 2015, economist Daniel Altman about the way changes in business and culture are shifting the economy worldwide. And offered prescriptions for several big challenges.
  
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• Weak jobs report leaves Federal Reserve tied to global growth

  02-10-2015 17:38 via news.yahoo.com
  
  By Howard Schneider WASHINGTON (Reuters) - The weak U.S. September jobs report published Friday is another sign that Federal Reserve policy may be uncomfortably tethered to the strength of the global economy, as a year long swoon in exports helped wipe out manufacturing jobs and slow employment growth. As it tries to engineer the first U.S. interest rate increase in nearly a decade, the Fed wants economic growth to stay even marginally above what is viewed as its long-term trend of around 2.0 pe
  
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• BRIEF-Alphaform signs contract for sale of business divisions to Proto Labs

  02-10-2015 17:28
  * Insolvency administrator of Alphaform signed a contract
  with Proto Labs, Inc. for sale of selected assets and
  operations to Proto Labs
  
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• RBC leads rise in Canadian equity issues despite choppy markets

  02-10-2015 17:24
  
  TORONTO (Reuters) - Royal Bank of Canada led a rise in the value of Canadian equity issues for the first nine months of 2015, overcoming a slowdown in the third quarter due to increased choppiness in...
  
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• GE role helps JPMorgan top Canadian M&A advisor rankings

  02-10-2015 17:23
  TORONTO (Reuters) - JPMorgan Chase, the lead advisor to General Electric Co on the sale of its finance assets, vaulted to the top of the Canadian M&A league tables following a string of GE asset...
  
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• Oil fall 1 percent as U.S. data soft, storm threat recedes

  02-10-2015 17:16 via news.yahoo.com
  
  Oil prices fell around 1 percent on Friday, heading for a weekly decline, as weaker-than-expected U.S. economic data weighed on the energy demand outlook and Hurricane Joaquin veered away from oil installations in the U.S. East Coast. The currency fell on concerns that the U.S. economy may still be too weak to allow the Federal Reserve to raise interest rates this year. Both Brent and U.S. crude were down about 3 percent on the week.
  
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• Stocks fall, bonds climb after weak U.S. jobs report

  02-10-2015 17:12 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - U.S. and European stocks slipped and bond prices jumped on Friday, after a weak U.S. employment report suggested the economy may not be strong enough to allow the Federal Reserve to raise interest rates this year. The economy created an extra 142,000 jobs in September, well short of the 203,000 forecast, and August numbers were revised sharply lower to show only 136,000 jobs, the U.S. Labor Department said. "It was a bit of a surprise because not only wa
  
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• TSX slides as soft jobs data casts doubt on U.S. economy

  02-10-2015 17:08 via news.yahoo.com
  
  By Solarina Ho TORONTO (Reuters) - Canada's main stock index fell more than 1 percent on Friday, following disheartening labor market data for September that has cast doubt on the strength of the economy of Canada's biggest trading partner. The U.S. Federal Reserve had said it was on track to raise interest rates before the end of the year, marking the first rate hike in nearly a decade. The TSX's declines mirrored Wall Street, which saw all three main indices giving back more than 1 percent.
  
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