Finance news

• U.S. officials hopeful on IMF governance reforms

  29-10-2015 23:57
  WASHINGTON, Oct 29 (Reuters) - Senior U.S. officials said on Thursday they hoped to see the U.S. Congress approve reforms to the International Monetary Fund which will give emerging markets a bigger...
  
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• McKesson plays up alternatives as Rite Aid deal hangs in balance

  29-10-2015 23:44
  (Reuters) - With a lucrative supply deal hanging in the balance, drug distributor McKesson Corpmoved to reassure investors on Thursday by announcing its retention of a contract with Omnicare, a...
  
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• U.S. muni bond funds post $349 million in inflows: Lipper

  29-10-2015 23:33
  Reuters - U.S. municipal bond funds reported $349 million of net inflows in the week ended Oct. 28, compared with $240.7 million in inflows in the previous week, according to data released by Lipper...
  
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• U.S. stock ETFs posted $8.2 billion inflows over weekly period: Lipper

  29-10-2015 23:30
  NEW YORK (Reuters) - Investors piled $8.2 billion into stock exchange-traded funds over the week ended Oct 28, the third week of inflows for those funds and the most new money since mid-September,...
  
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• UPDATE 1-U.S. stock ETFs posted $8.2 bln inflows over weekly period -Lipper

  29-10-2015 23:28
  (New throughout, adds details, table and comments from Lipper analyst) By Trevor Hunnicutt NEW YORK, Oct 29 (Reuters) - Investors piled $8.2 billion into stock exchange-traded funds over the week...
  
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• Congo's Kabila names provincial commissioners as elections lag

  29-10-2015 23:17 via news.yahoo.com
  
  Democratic Republic of Congo President Joseph Kabila appointed special commissioners on Thursday to provisionally govern 21 new provinces, a move critics say is part of a strategy he has to cling to power. Two deputy commissioners were also named in each province to oversee economic and political matters. Critics, however, say the nominations aim to reinforce Kabila's hold on security and revenue flows in the provinces ahead of a presidential election due in November next year.
  
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• Johnson Controls profit beats expectations, revenue slips

  29-10-2015 23:00 via news.yahoo.com
  
  Johnson Controls Inc , which makes automotive batteries and heating and ventilation equipment, beat Wall Street's earnings expectations on Thursday but revenue slid due to unfavorable currency exchange rates and the sale of a business unit. The company is planning to spin off its automotive seating and interiors business by next October, to focus on its building efficiency and automotive battery operations. For the current quarter, it said it expects diluted earnings per share to grow by 8 to 12
  
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• French hotel group Accor in talks to buy Canada's FRHI: WSJ

  29-10-2015 22:29 via news.yahoo.com
  
  (Reuters) - Europe's largest hotel group Accor SA is planning to buy Canada-based FRHI Hotels & Resorts for about $3 billion, The Wall Street Journal reported on Thursday, citing sources. The deal, which could be announced as early as next month, could still fall apart as the hotel giants did not reach any agreement yet, the newspaper said. FRHI, which operates luxury hotel brands like Fairmont, Raffles and Swisshotel, hired Deutsche Bank and Morgan Stanley to estimate the market value of th
  
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• Google parent Alphabet may open units to China: report

  29-10-2015 22:27 via news.yahoo.com
  
  Google parent Alphabet may do business in China following the reorganization of the technology giant, co-founder Sergey Brin said in an interview Thursday. Brin, who is president of Alphabet, told the Wall Street Journal that the new organizational structure would allow each unit autonomy on the matter. "Each Alphabet business can make its own decisions on which countries to operate in," Brin was quoted as saying.
  
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• Raytheon to buy Intel’s Stonesoft: report

  29-10-2015 22:13
  (Reuters) - Raytheon Co'sWebsense unit is buying Intel Corp'sFinnish cybersecurity arm, Stonesoft, according to news media reports.
  
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• Wall St. ticks down as investors digest Fed, earnings

  29-10-2015 21:45 via news.yahoo.com
  
  (Reuters) - U.S. stocks ended slightly lower on Thursday as the market digested the potential for an interest rate hike in December and some disappointing tech earnings reports.
  
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• Earnings fail to lift US stocks as economic growth slows

  29-10-2015 21:34 via news.yahoo.com
  
  NEW YORK (AP) — Stocks slipped Thursday after the U.S. said economic growth slowed more than expected in the summer.
  
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• Starbucks posts hot cafe sales, but shares slide on forecast

  29-10-2015 21:33 via news.yahoo.com
  
  By Lisa Baertlein (Reuters) - Starbucks Corp brewed up another quarter of strong sales and profit growth, but its shares fell more than 3 percent after the richly valued cafe chain's 2016 forecast offered little upside to Wall Street's target. Starbucks said on Thursday global sales at cafes open at least 13 months were up 8 percent in the fourth quarter ended Sept. 27, beating than the 6.9 percent rise expected by analysts polled by research firm Consensus Metrix. Those sales grew 7 percent in
  
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• Centerbridge hires banks to sell Spanish property services firm Aktua: sources

  29-10-2015 21:32
  LONDON/MADRID (Reuters) - U.S. private equity group Centerbridge Partners has appointed investment banks to sell Spanish property services firm Aktua, five sources familiar with the matter said.
  
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• Regulators bust toilet paper cartel in Chile

  29-10-2015 21:08 via news.yahoo.com
  
  Chileans have been overpaying to wipe their bottoms, the nation's anti-trust regulators said Thursday, as they brought charges over a price-fixing scheme by the country's two largest toilet paper manufacturers. For more than a decade, CMPC Tissue and SCA Chile colluded to split up the market and fix the price of toilet paper and other paper products, said the authority tasked with fighting economic crimes, the FNE. In charges brought before the national Free Competition Tribunal, the FNE said th
  
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• UPDATE 4-Potash Corp cuts output, forecasts as prices slump; shares drop

  29-10-2015 21:02
  Oct 29 (Reuters) - Potash Corp of Saskatchewan said on Thursday it would cut production and trim its full-year earnings and sales forecasts, as volatile currencies and economic pressures weigh on...
  
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• Valeant's top shareholder defends stake in the company

  29-10-2015 20:36 via news.yahoo.com
  
  Valeant Pharmaceuticals International Inc's largest shareholder defended its investment in the embattled drugmaker, saying allegations against the company are false and that there is no legal case preventing ties to a specialty pharmacy. Fund manager Ruane, Cunniff & Goldfarb Inc owns a 9.93 percent stake in Valeant as of June 30, Thomson Reuters data show. Separately, two of the five independent directors of the Sequioa Fund - the fund that Ruane, Cunniff & Goldfarb manage - resigned ov
  
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• End of China's one-child policy unlikely to boost economy: analysts

  29-10-2015 20:30 via news.yahoo.com
  
  China abandoned its decades-old one-child policy Thursday to confront a looming slump in the economy's workforce that it is probably powerless to prevent, analysts say. All couples will be allowed to have two children, China's official Xinhua news agency announced as the Communist Party brought an end to decades of strict, sometimes harsh enforcement of the rule. "In reality, the one-child policy had already been abandoned," said Patrick Artus, analyst at French investment bank Natixis.
  
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• China's easing of birth limit a boon to couples, companies

  29-10-2015 20:12 via news.yahoo.com
  
  BEIJING (AP) — China's decision to abolish its one-child policy is a boon to couples and to sellers of goods from formula to diapers to toys. And it might help defuse economic stresses caused by an aging population.
  
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• UPDATE 3-Goldcorp stock slumps on loss driven by writedown, prices

  29-10-2015 19:52
  TORONTO, Oct 29 (Reuters) - Goldcorp Inc shares tumbled 10 percent on Thursday while stocks of several top gold miners made gains, after the world's most valuable bullion producer posted a surprise...
  
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• China to allow all couples two children to counter aging population

  29-10-2015 19:48 via news.yahoo.com
  
  By Megha Rajagopalan and Koh Gui Qing BEIJING (Reuters) - China will ease family planning restrictions to allow all couples to have two children after decades of a strict one-child policy, the ruling Communist Party said on Thursday, a move aimed at alleviating demographic strains on the economy. The policy is a major liberalization of the country's family planning restrictions, already eased in late 2013 when Beijing said it would allow more families to have two children when the parents met ce
  
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• Coinsilium turns to broker-owned bourse to revive listing plan

  29-10-2015 19:43 via news.yahoo.com
  
  LONDON, Oct (HKSE: 3366-OL.HK - news) 29 (Reuters) - Coinsilium, a London-based investor in the technology that underpins digital currency bitcoin, plans to revive its delayed initial public offering (IPO) by seeking a listing on a junior stock market run by broker ICAP (LSE: IAP.L - news) . The decision to list on the ICAP Securities and Derivatives Exchange's (ISDX) growth market comes after the company announced in September that it had scrapped its plan to list on London's more established A
  
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• U.S. Treasury increases amount of 3-month bill supply

  29-10-2015 19:09
  NEW YORK (Reuters) - The U.S. Treasury Department said on Thursday it will sell $28 billion of three-month bills next Monday, $2 billion more than what it sold earlier this week, while it kept its...
  
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• Brexit Risk To UK's Top Credit Rating - S&P

  29-10-2015 18:55 via news.yahoo.com
  
  The UK would likely lose its coveted 'AAA' credit rating should the country vote to leave the EU, an agency has warned. Standard and Poor's (S&P) chief sovereign rating officer, Moritz Kraemer, told the news agency Reuters that the sovereign rating could even be snipped by two notches should relations with Brussels deteriorate in the event of an exit. It also warned on the prospect of such a result triggering new calls for a vote on Scottish independence, give the SNP Government's fierce opp
  
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• Chinese luxury shopping undeterred by economic jitters

  29-10-2015 18:52 via news.yahoo.com
  
  MILAN (AP) — Wealthy Chinese remain the No. 1 buyers of luxury products worldwide, appearing inured to economic turmoil at home as they zigzag the globe in search of deals on everything from handbags to jewelry, according to a new study by Bain consultancy.
  
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• US stocks slip on earnings and slower economic growth

  29-10-2015 18:50 via news.yahoo.com
  
  NEW YORK (AP) — Stocks are slightly lower in afternoon trading after the U.S. government said economic growth slowed more than expected in the summer. Companies including Buffalo Wild Wings and camera maker GoPro plunged after reporting weak earnings.
  
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• IMF mulls rule changes to maintain aid to Ukraine

  29-10-2015 18:47 via news.yahoo.com
  
  The International Monetary Fund is considering changing its rules to allow continued aid to Ukraine, despite the country's potential default on debt owed to Russia, a spokesman said Thursday. Russia has refused to renegotiate $3 billion in debt that cash-short Ukraine is scheduled to repay by the end of the year. If Kiev defaults on its debt to Russia, the IMF in principle should cut off credit to Ukraine, even as the country grapples with an economic crisis and a pro-Russian insurrection.
  
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• Bombardier gets Quebec investment but weak results hurt shares

  29-10-2015 18:35 via news.yahoo.com
  
  By Euan Rocha and Allison Lampert TORONTO/MONTREAL (Reuters) - The Quebec government said it will invest $1 billion in Bombardier Inc's CSeries jets in return for a near 50 percent stake in the struggling project, in what was seen as a risky move to protect jobs in the Canadian province. Shares of Bombardier fell 12.4 percent to C$1.41 on the Toronto Stock Exchange as the company burnt through $816 million in the third quarter due to weaker order flows. "It’s a risky situation, but it&rsqu
  
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• European stocks pause as Fed hints at rate hike

  29-10-2015 18:16 via news.yahoo.com
  
  European equities dipped Thursday after the US Federal Reserve hinted at a potential December interest rate rise, sparking fresh investor uncertainty. "The Fed has just created more uncertainty in the markets," said analyst Craig Erlam at trading firm Oanda. The US central bank kept interest rates at record lows Wednesday but expressed faith in the outlook for the world's top economy noting what it called "solid" consumer spending and business investment.
  
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• Kuwait economy shrinks on falling oil prices

  29-10-2015 18:01 via news.yahoo.com
  
  Kuwait's economy contracted last year for the first time since 2010 as the Gulf state suffered the consequences of the global drop in oil prices, its central bank said Thursday. The country's total Gross Domestic Product (GDP) shrank 1.6 percent in 2014, mainly because oil-generated GDP contracted 1.7 percent, the central bank said in its annual economic report. Analysts have been warning of the effects on oil-dependent countries of the drop of oil prices by more than half since the beginning of
  
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• Wall Street lower as Fed puts Dec rate hike in play

  29-10-2015 17:57 via news.yahoo.com
  
  (Reuters) - U.S. stocks eased on Thursday after the Federal Reserve rekindled expectations of an interest rate hike in December and data suggested the economy was ready.
  
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• Britain could face two-notch rating cut if it leaves EU - S&P

  29-10-2015 17:49 via news.yahoo.com
  
  By John Geddie and Marc Jones LONDON (Reuters) - Britain's credit rating could be cut by as much as two notches if it leaves the European Union, Standard & Poor's told Reuters on Thursday. A vote to quit the EU would be likely to result a one-notch downgrade, which could be increased to two notches if relations between London and Brussels deteriorated significantly, the agency's chief sovereign rating officer told Reuters in an interview. S&P has rated Britain at AAA since 1978, but chan
  
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• Global stocks dip, bond yields rise as Fed zest fades

  29-10-2015 17:44 via news.yahoo.com
  
  Stock markets around the world fell and bond yields rose as investors weighed the implications that a U.S. interest rate rise before the end of the year would have for the global economy and markets. The Federal Reserve, which kept its rates on hold as expected on Wednesday, took the unusual step of strengthening its language about timing in its statement, making it clear that a December rate hike was still possible. The Fed also removed a previous warning about slowing global growth.
  
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• Canada housing agency sees overvaluation in most cities

  29-10-2015 17:35 via news.yahoo.com
  
  Canada's housing market is overvalued in most major cities, with price acceleration not supported by economic and demographic fundamentals in Toronto, the largest market, the federal housing agency said on Thursday. In a report that highlights the nation's uneven real estate market, The Canada Mortgage and Housing Corp said there is strong evidence of overvaluation in Toronto, Montreal and Quebec City, and moderate risk in most other cities, while overbuilding is most problematic in Winnipeg, Sa
  
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• Samson Resources' CEO to quit, falling gas imperils debt plan

  29-10-2015 17:15
  WILMINGTON, Del, Oct 29 (Reuters) - Samson Resources Corp's
  chief executive officer plans to resign, a lawyer for the
  bankrupt oil and gas producer told a judge on Thursday, adding
  that the company's...
  
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• Time Warner Cable, Charter expect deal closing in first quarter 2016, not 2015

  29-10-2015 17:04
  
  (Reuters) - Charter Communications Incsaid its acquisition of Time Warner Cable Inc , which is awaiting clearance from U.S. regulators, is now expected to close in the first quarter of 2016, and...
  
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• UPDATE 2-3D Systems CEO steps down, shares fall

  29-10-2015 17:03
  Oct 29 (Reuters) - 3D printer maker 3D Systems Corp said Avi Reichental, its chief executive of 12 years, had stepped down and Chief Legal Officer Andrew Johnson had taken over as interim CEO.
  
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• US economy slows to 1.5% growth in Q3

  29-10-2015 16:48 via news.yahoo.com
  
  The US economy cooled in the third quarter but underlying consumer demand remains strong as the Federal Reserve considers its first interest rate hike in nine years. In a positive sign, third-quarter growth mainly reflected solid consumer spending, which accounts for two-thirds of US output, as consumers found themselves with a lot more disposable income than in the second quarter. Consumer spending rose at an annual rate of 3.2 percent in the third quarter, slowing somewhat from a 3.6 percent i
  
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• U.S. judge rejects creditors' request to remove Caesars' lawyers

  29-10-2015 16:46
  CHICAGO, Oct 29 (Reuters) - A judge has rejected an unusual
  attempt by junior bondholders of Caesars Entertainment's
  bankrupt operating unit to disqualify law firm Kirkland & Ellis
  from leading the...
  
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• UPDATE 1-CNH Industrial cuts 2015 sales goal after drop in Q3 profit

  29-10-2015 16:42
  MILAN, Oct 29 (Reuters) - Truck and tractor maker CNH Industrial cut its full-year sales goal after reporting a larger-than-expected 53 percent drop in third-quarter profit for its industrial...
  
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• Azeri leader Aliyev to affirm rule in poll, critics say vote unfair

  29-10-2015 16:18 via news.yahoo.com
  
  By Nailia Bagirova BAKU (Reuters) - Azeri President Ilham Aliyev, helped by an oil-fueled economic boom, will maintain his tight hold on power with victory this weekend for his political party in polls opponents are boycotting and international rights groups say will not be fair. Azerbaijan is host to oil majors including BP, ExxonMobil and Chevron. Ilham Aliyev has consolidated power since succeeding his father and long-serving leader Heydar in 2003, overseeing a period when revenue from rising
  
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• UPDATE 4-Deutsche Bank's new chief warns of two tough years in strategy shift

  29-10-2015 16:16
  * Shares down 7.7 pct vs 2 pct lower sector index (Adds internal profit targets)
  
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• UPDATE 1-Johnson Controls' unit sale slashes net income; EPS rises

  29-10-2015 15:57
  Oct 29 (Reuters) - Johnson Controls Inc, which makes automotive batteries and building heating and cooling units, posted lower net income from continuing operations for the fiscal fourth quarter on...
  
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• UPDATE 2-Canadian meat packer Maple Leaf Foods swings to profit but shares slide

  29-10-2015 15:41
  Oct 29 (Reuters) - Maple Leaf Foods Inc, one of Canada's biggest pork processors, swung to a rare profit in the third quarter as the company nears the end of its restructuring plan.
  
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• VW eyes 10-20 people responsible for emissions rigging - source

  29-10-2015 15:39 via news.yahoo.com
  
  By Jan Schwartz HAMBURG (Reuters) - Volkswagen believes that up to around 20 people were involved in its rigging of diesel-engine emissions tests, a person familiar with the matter said on Thursday. "This should be a two-digit number in the range of between 10 and 20." Europe's biggest carmaker admitted last month to cheating diesel emissions tests in the United States, triggering a crisis that has wiped more than a quarter off its stock market value, forced out its long-time chief executive and
  
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• Kenya's KCB sees regional markets boosting 2015 earnings

  29-10-2015 15:37 via news.yahoo.com
  
  By Duncan Miriri NAIROBI (Reuters) - Kenya's biggest lender, KCB Group, expects its international businesses to lift earnings this year, picking up the slack from lower demand for loans in Kenya, its chief executive said on Thursday. Apart from Kenya, KCB, which has assets of 607.3 billion shillings ($5.96 billion), operates in Uganda, Tanzania, Rwanda, South Sudan and Burundi. Joshua Oigara said those businesses would help KCB achieve its full-year targets, in spite of a jump in Kenyan lending
  
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• Hedge fund Kerrisdale Capital shorts Straight Path Communications

  29-10-2015 15:35
  BOSTON (Reuters) - Hedge fund Kerrisdale Capital on Thursday announced a short bet against spectrum holding company Straight Path Communications, saying the $500 million company is worth 90 percent...
  
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• Doing the transgender math: The costs of transition

  29-10-2015 15:35
  
  NEW YORK (Reuters) - When Sara Davis Buechner began her transition from man to woman, she knew there were going to be emotional hurdles, like dealing with her family.
  
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• Average US rate on 30-year mortgage slips to 3.76 percent

  29-10-2015 15:28 via news.yahoo.com
  
  WASHINGTON (AP) — Average long-term U.S. mortgage rates were slightly lower to unchanged this week amid expectations that the Federal Reserve isn't ready yet to raise its key short-term interest rate.
  
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• Ecobank cuts 2015 loan target on weak market for lending: CEO

  29-10-2015 15:19 via news.yahoo.com
  
  Pan-African lender Ecobank has lowered its 2015 loan growth target to 5 percent, compared to a 15 percent target it set for last year, owing to a weak lending market in Africa's biggest economy, its chief executive said on Thursday. Ecobank CEO Ade Ayeyemi said the lender, with presence across 34 African countries, has suspended a share sale to raise additional capital for its Nigerian subsidiary owing to the slowdown in loan growth. In July, the lender said it had obtained board approval to rai
  
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