Finance news

• Mexico regulator fines restaurant operator Alsea

  30-10-2015 23:51
  MONTERREY, Oct 30 (Reuters) - Mexican restaurant operator Alsea on Friday said it must pay a fine of 25.7 million pesos ($1.56 million) to the competition regulator for not providing advance notice...
  
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• Brazil's JBS concludes purchase of Cargill pork unit

  30-10-2015 23:32
  SAO PAULO/CHICAGO (Reuters) - Brazilian meatpacker JBS SAhas concluded its $1.45 billion acquisition of Cargill Inc's [CARG.UL] U.S. pork assets without any restrictions from regulators, it said on...
  
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• UPDATE 2-Brazil's JBS concludes purchase of Cargill pork unit

  30-10-2015 23:31
  SAO PAULO/CHICAGO, Oct 30 (Reuters) - Brazilian meatpacker JBS SA has concluded its $1.45 billion acquisition of Cargill Inc's U.S. pork assets without any restrictions from regulators, it said on...
  
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• U.S. RESEARCH ROUNDUP-LinkedIn, Nvidia, Dreamworks Animation

  30-10-2015 23:17
  Oct 30 (Reuters) - Wall Street securities analysts revised their ratings and price targets on several U.S.-listed companies, including Solarcity, Nvidia and LinkedIn Corp, on Friday. HIGHLIGHTS *...
  
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• Ackman lecture no match for Citron tweet as Valeant tumbles anew

  30-10-2015 23:16
  BOSTON, Oct 30 (Reuters) - Hedge fund billionaire William Ackman spent nearly four hours on Friday trying to convince the world that drug maker Valeant was a good buy but it was short-seller Andrew...
  
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• Vertex, Mylan, CVS subpoenaed by federal agencies

  30-10-2015 23:00
  Oct 30 (Reuters) - Vertex Pharmaceuticals Inc said it received a subpoena from the U.S. Department of Justice in the third quarter, seeking documents related primarily to its "good laboratory...
  
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• U.S. bankruptcy lawyer faces fresh creditor attack over Caesars

  30-10-2015 22:57
  Oct 30 (Reuters) - Junior creditors of Caesars Entertainment launched a fresh attack against a top U.S. restructuring attorney, alleging that James Sprayregen of Kirkland & Ellis misled a judge and...
  
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• Largest U.S. banks face $120 billion shortfall under new rule

  30-10-2015 22:49
  
  (Reuters) - Six big U.S. banks need to raise an additional $120 billion, most likely in long-term debt, under a rule proposed on Friday by the Federal Reserve.
  
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• UPDATE 1-Largest U.S. banks face $120 billion shortfall under new rule

  30-10-2015 22:48
  Oct 30 (Reuters) - Six big U.S. banks need to raise an additional $120 billion, most likely in long-term debt, under a rule proposed on Friday by the Federal Reserve.
  
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• Stocks slip, but post best month in 4 years; oil gains

  30-10-2015 22:40 via news.yahoo.com
  
  By Rodrigo Campos and Herbert Lash NEW YORK (Reuters) - Oil gained on Friday while stocks on Wall Street closed lower even as major U.S. and European stock indices posted their best month in at least four years, boosted in part by accommodative monetary policies in the euro zone and Japan. Oil prices rose after the U.S. oil rig count fell for a ninth straight week, indicating potentially lower crude output in coming months in the face of a global supply glut. The dollar slipped after data showin
  
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• Hospitals to pay $250 million for cardiac device coverage violations: DOJ

  30-10-2015 22:26
  (Reuters) - Hundreds of U.S. hospitals will pay a total of more than $250 million stemming from allegations that they implanted cardiac devices in Medicare patients in violation of coverage...
  
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• Ikea billionaire pays first Swedish income taxes since 1973

  30-10-2015 22:05 via news.yahoo.com
  
  The billionaire founder of flatpack furniture chain Ikea has paid Swedish income tax for the first time since he left the country in 1973, a report said Friday. Ingvar Kamprad declared income of 17.7 million Swedish kronor (1.9 million euros, $2 million), with 1.2 million kronor coming from work, according to the Dagens Nyheter daily. The Kamprad family reportedly holds around 40 billion euros ($44 billion) in assets, with the Ikea founder himself sitting on a fortune of an estimated three to fo
  
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• Stocks slip, but post best month in four years; oil gains

  30-10-2015 21:50 via news.yahoo.com
  
  By Rodrigo Campos and Herbert Lash NEW YORK (Reuters) - Oil gained on Friday while stocks on Wall Street closed lower even as major U.S. and European stock indices posted their best month in at least four years, boosted in part by accommodative monetary policies in the euro zone and Japan. Oil prices rose after the U.S. oil rig count fell for a ninth straight week, indicating potentially lower crude output in coming months in the face of a global supply glut. The dollar slipped after data showin
  
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• Global stocks slip, but post best month in four years; oil gains

  30-10-2015 21:44 via news.yahoo.com
  
  By Rodrigo Campos and Herbert Lash NEW YORK (Reuters) - Oil gained on Friday while stocks on Wall Street closed lower even as major U.S. and European stock indices posted their best month in at least four years, boosted in part by accommodative monetary policies in the euro zone and Japan. Oil prices rose after the U.S. oil rig count fell for a ninth straight week, indicating potentially lower crude output in coming months in the face of a global supply glut. The dollar slipped after data showin
  
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• U.S. seen expanding 2.5 percent in fourth quarter: Atlanta Fed

  30-10-2015 21:41
  NEW YORK (Reuters) - The U.S. economy is on track to grow 2.5 percent in the fourth quarter, a day after the government said its first estimate on gross domestic product in the third quarter was a...
  
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• Peet's rides coffee's 'third wave' with stake in Intelligentsia

  30-10-2015 21:19
  (Reuters) - Peet's Coffee & Tea [PEETC.UL] will expand its reach in the hot "third wave" coffee sector with the purchase of a majority stake in Intelligentsia Coffee, the two chains said on Friday.
  
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• US stocks slip but finish month with biggest gain in 4 years

  30-10-2015 21:08 via news.yahoo.com
  
  The stock market drifted lower Friday but finished October with its biggest monthly gain in four years.
  
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• Why a Vote for Hillary Clinton Is Like a Vote for Elizabeth Warren

  30-10-2015 21:03 via news.yahoo.com
  
  Consider: Hillary Clinton is hailed as having had a “very good week.” Why? Some are crushed that Elizabeth Warren has not entered the race, but the majority of Democrats consider the left-wing senator from Massachusetts too extreme. The only time Warren bested Mrs. Clinton in a faux match-up was when MoveOn.Org manipulated the outcome by telling would-be voters favorable things about Warren, such as: "Elizabeth Warren wants to extend the same low interest rates that the fed
  
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• After sell-off, some investors jump back into emerging market bonds

  30-10-2015 20:45
  NEW YORK (Reuters) - Plunging commodity prices and a slowdown in China have prompted a sell-off of emerging market bonds over the last two years, but some investors have started to dip their toes...
  
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• 3 Halloween Horrors I’d Avoid: Anglo American plc, WM Morrison Supermarkets PLC And Tullow Oil PLC

  30-10-2015 20:24 via news.yahoo.com
  
  Royston Wild examines stock market shockers Anglo American plc (LON: AAL), WM Morrison Supermarkets PLC (LON: MRW) and Tullow Oil PLC (LON: TLW).
  
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• Exclusive: France's Sephora to open shops in Iran next year

  30-10-2015 19:59
  
  By Astrid Wendlandt and Pascale Denis PARIS (Reuters) - France's Sephora plans to open several shops in Iran starting next year, becoming one of the first major European specialist cosmetics retailers to directly invest in the country as it emerges from years of economic sanctions. Sephora, part of luxury industry leader LVMH , running around 2,000 outlets worldwide, is keen to build its presence in Iran where there is a huge appetite for cosmetics and especially make-up. With a population of ne
  
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• European stocks score strong monthly gain

  30-10-2015 19:32
  
  European stock markets fell Friday afternoon as many investors cashed in gains after a bumper month for equities and digested uninspiring company results, dealers said. London gained almost five percent in value over the month, Paris nearly 10 percent and Frankfurt more than 12 percent, lifted by optimism despite China's economic slowdown. Markets charged ahead on expectations that a US interest rate hike would be delayed -- at least until the Federal Reserve hinted Wednesday at an increase in D
  
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• Wall St. Weekahead - Battered transport stocks could attract on price

  30-10-2015 19:05 via news.yahoo.com
  
  Though the stock market has broadly recovered from its August swoon, the same can't be said of transport stocks. Continuing weakness in railroad and trucking companies have pushed the Dow Jones Transport Average index away from the S&P 500, a divergence that often is seen as a broad sell sign. "There is no 'sell' signal as far as I'm concerned," said Katie Stockton, chief technical strategist at BTIG in New York.
  
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• Tanzanian president-elect promises faster growth after disputed vote

  30-10-2015 19:01
  
  By Fumbuka Ng'wanakilala DAR ES SALAAM (Reuters) - Tanzania's president-elect, John Magufuli, promised on Friday to speed up economic growth and development in the East African nation, a day after he was declared winner of a presidential vote that his opponent rejected as rigged. Magufuli's ruling CCM party faced its toughest electoral challenge in more than half century in power, after the main opposition parties united for Sunday's vote around a single candidate for the first time, Edward Lowa
  
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• KeyCorp to buy First Niagara to create 13th biggest U.S. bank

  30-10-2015 18:45
  (Reuters) - Cleveland-based KeyCorphas agreed to buy First Niagara Financial Group Incof Buffalo for $4.1 billion in the biggest deal this year between two U.S. regional banks.
  
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• Exclusive: Three buyout funds vying for GE's $7 billion French banking arm - sources

  30-10-2015 18:34
  
  LONDON (Reuters) - Three buyout funds are vying to buy General Electric'sbanking unit in France as the U.S. conglomerate presses ahead with its plan to offload its financing operations in Europe,...
  
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• $1 trillion could move to index funds if rule on financial advice passes: analyst

  30-10-2015 18:11
  NEW YORK (Reuters) - A rule proposed by the U.S. Department of Labor that would set new standards for financial advisers serving retirement accounts could send $1 trillion in new assets to passive...
  
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• CVS Health outlook for 2016 disappoints Wall Street

  30-10-2015 17:28 via news.yahoo.com
  
  CVS Health shares that hit an all-time high price three months ago tumbled Friday after the drug store chain and pharmacy benefits manger surprised Wall Street with a 2016 profit forecast that fell well below expectations.
  
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• Fed's George sees 2015 economic growth staying in line with trend

  30-10-2015 17:07
  
  (Reuters) - The U.S. economy will likely expand this year at a pace consistent with its longer-term trend rate and the labor market has healed "fairly rapidly," Kansas City Federal Reserve President Esther George said on Friday.
  
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• Ackman: Valeant's main problem is PR, not fraud

  30-10-2015 16:48
  
  BOSTON (Reuters) - Hedge fund mogul William Ackman told his investors on Friday that he was confident in his bet on Valeant Pharmaceuticals but faulted the company for a weak response to fraud...
  
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• Low oil price takes big bite from Chevron, Exxon earnings

  30-10-2015 16:29 via news.yahoo.com
  
  The world's biggest oil companies are reporting grim results in the third quarter of 2015, with Chevron Corp seeing profit fall by 64 per cent and Exxon profit down 47 per cent. Chevron announced it would cut an additional 6,000 to 7,000 jobs and reduce capital spending by 25 per cent in the coming year. Exxon reported profit of $4.2 billion or $1.01 a share, down from $8.1 billion or $1.89 a share a year ago.
  
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• World Cup winner poised for stock market gains, says S&P

  30-10-2015 16:26 via news.yahoo.com
  
  By John Geddie LONDON (Reuters) - Either Australia or New Zealand could be on course for a stock market rally next week depending on which of their rugby teams are crowned World Cup champions on Saturday. Research from financial information provider Standard & Poor's Capital IQ shows that the last three winners of the World Cup have all had material increases in their respective markets index in the week following the final. New Zealand's S&P/NZX 50 climbed 1.4 percent after their win in
  
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• Rugby-World Cup winner poised for stock market gains, says S&P

  30-10-2015 16:25 via news.yahoo.com
  
  By John Geddie LONDON, Oct 30 (Reuters) - Either Australia or New Zealand could be on course for a stock market rally next week depending on which of their rugby teams are crowned World Cup champions on Saturday. Research from financial information provider Standard & Poor's Capital IQ shows that the last three winners of the World Cup have all had material increases in their respective markets index in the week following the final. New Zealand's S&P/NZX 50 climbed 1.4 percent after thei
  
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• Survey: US consumer sentiment improved in October

  30-10-2015 15:39
  
  WASHINGTON (AP) — Americans are feeling more confident this month, a good sign for an economy driven by consumer spending, according to a University of Michigan survey.
  
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• EU regulators open full probe into Hutchison's $15.8 billion UK deal

  30-10-2015 15:19
  
  BRUSSELS (Reuters) - EU antitrust regulators have launched a full investigation into Hutchison Whampoa's 10.3-billion-pound ($15.8 billion) bid for British mobile operator O2, concerned that the deal...
  
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• Portugal PM, president urge talks to let minority government rule

  30-10-2015 15:14
  
  Portuguese President Anibal Cavaco Silva and Prime Minister Pedro Passos Coelho appealed for renewed political talks to prevent a swift downfall of the minority government that was sworn in on Friday and that the opposition says it will topple. Portugal's new opposition-dominated parliament will hold a vote on Nov. 10 or 11 on the center government program that could boot out the austerity-minded administration. The growing political uncertainty following an inconclusive Oct.4 election has promp
  
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• Wall Street flat; indexes set for best month in 4 years

  30-10-2015 15:02 via news.yahoo.com
  
  U.S. stocks were little changed on Friday as investors paused on the last trading day of what could be the best month for the three major indexes in four years. Energy majors Exxon and Chevron reported better-than- expected results, helped by strong refining margins. Exxon shares were down 1 percent, while Chevron rose 1.9 percent.
  
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• McGraw Hill exploring sale of J.D. Power

  30-10-2015 14:51
  (Reuters) - McGraw Hill Financial Incis looking at selling off its J.D. Power unit, best known for car quality and reliability ratings, as the owner of the Standard & Poor's ratings services...
  
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• EU lawmakers make headway with rules for risky trading at banks

  30-10-2015 14:48 via news.yahoo.com
  
  By Huw Jones and Tom Körkemeier LONDON/BRUSSELS (Reuters) - European Union lawmakers have ended a stalemate over plans to curb risky trading at banks after months of wrangling over how tough the new rules should be. The draft rules are seen as Europe's answer to the Volcker Rule on Wall Street to stop risks from trading pulling down other parts of a bank, such as customer deposits. The impasse between the European Parliament's two biggest parties, the centre right and centre left, was over
  
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• European stocks sink heading into weekend

  30-10-2015 14:16
  
  Global stock markets have charged ahead on expectations that a US interest rate hike would be delayed -- but the Federal Reserve hinted Wednesday at an increase in December and sent jitters across trading floors. "Markets have come off a bit, but nothing too dramatic," said analyst Markus Huber at London-based broker Peregrine & Black. On Friday, London's top faller was International Airlines Group, whose share price sank 3.93 percent to 574 pence as earnings guidance disappointed investors.
  
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• Piaggio nine-month core earnings flat, in line with forecasts

  30-10-2015 14:15 via news.yahoo.com
  
  Italian motorcycle and scooter maker Piaggio on Friday reported flat core earnings for the first nine months of the year, as expected by analysts, helped by sales growth across its main geographic areas and positive currency effects. The maker of the iconic Vespa scooter and Aprilia motorbikes said earnings before interest, tax, depreciation and amortisation (EBITDA) for the nine-months to the end of September inched up to 135.7 million euros ($149 million) compared with 135.4 million the previo
  
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• Zambia aims to boost Congo exports in diversification drive

  30-10-2015 14:10
  
  By Chris Mfula LUSAKA (Reuters) - Zambia plans to boost exports of a whole range of products to Democratic Republic of Congo as part of efforts to diversify its economy away from copper and problems caused by its price volatility, the head of its trade promotion agency said on Friday. Zambia currently provides about a third of Congo's total imports and wants to increase its share to 40 percent, Zambia Development Agency (ZDA) director-general Patrick Chisanga said. "Exports into the Congo DR in
  
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• Why Earnings Are Set To Launch At GlaxoSmithKline plc, Crest Nicholson Holdings PLC And British American Tobacco plc

  30-10-2015 14:10 via news.yahoo.com
  
  Royston Wild examines the growth prospects of GlaxoSmithKline plc (LON: GSK), Crest Nicholson Holdings PLC (LON: CRST) and British American Tobacco plc (LON: BATS).
  
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• EM stock inflows top $1.3 billion, highest in 16 weeks: BAML

  30-10-2015 14:04
  LONDON (Reuters) - Emerging market stocks attracted $1.3 billion in the week to Wednesday, the biggest inflows for 16 weeks, Bank of America Merrill Lynch said on Friday, as investors bet on more...
  
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• Exxon 3Q profit falls by nearly half amid low oil prices

  30-10-2015 14:01 via news.yahoo.com
  
  DALLAS (AP) — Exxon Mobil Corp. posted its worst third quarter in 12 years due to low oil prices but still earned $4.24 billion, beating Wall Street expectations.
  
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• South Africa's Standard Bank opens office in Ethiopia

  30-10-2015 13:58
  
  South Africa's Standard Bank has opened an office in Ethiopia, it said on Friday, to gain a foothold in one of Africa's fastest growing economies where foreign lenders are not allowed to own banks. Ethiopia is a lucrative market with a population of about 90 million people and which Standard Bank - Africa's largest by assets with a presence in 20 countries - said has averaged economic growth of more than 10 percent for the past five years. The bank launched its office in Africa's second most pop
  
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• Obama welcomes budget and debt deal to keep government open

  30-10-2015 13:57
  
  WASHINGTON (AP) — President Barack Obama said he's eager to sign the two-year budget deal passed by the Senate in the pre-dawn hours Friday in hopes of breaking a "cycle of shutdowns and manufactured crises" that have hurt the U.S. economy.
  
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• Crude oil set for weekly gain despite global surplus

  30-10-2015 13:50
  
  Brent crude held close to $49 a barrel on Friday, poised to post the first weekly gain in three weeks despite a supply glut that has tested storage capacity and hammered oil company results. The potential gain, driven by smaller-than-expected builds in U.S. oil stocks, was widely viewed as a temporary boost in a market that is awash with oil and staring down sluggish economic growth in key markets such as the United States and China. Brent crude was trading 35 cents higher at $49.15 a barrel at
  
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• Canada GDP up for third month after five-month fall

  30-10-2015 13:47
  
  The Canadian economy grew in August for the third straight month after contracting in the first five months of the year, with oil and gas continuing to recover and manufacturing also making a contribution, Statistics Canada said on Friday. Gross domestic product showed an inflation-adjusted increase of 0.1 percent, as forecast in a Reuters survey of analysts, following more substantial boosts of 0.4 percent and 0.3 percent in June and July, respectively. The volume of oil and gas output rose 0.3
  
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• Obama says will sign budget deal quickly, applauds Congress

  30-10-2015 13:13
  
  WASHINGTON (Reuters) - President Barack Obama said on Friday he will sign the two-year budget deal passed by Congress overnight as soon as it reaches his desk, applauding lawmakers for a "responsible, long-term budget agreement that reflects our values, grows our economy and creates jobs." "After that, Congress should build on this by getting to work on spending bills that invest in America’s priorities without getting sidetracked by ideological provisions that have no place in America&rsq
  
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