Finance news

• VW says fuel usage understated on some models; Porsche warns

  03-11-2015 23:57 via news.yahoo.com
  
  Volkswagen on Tuesday said it had understated the fuel consumption of 800,000 cars sold in Europe, while majority stakeholder Porsche Automobil Holding SE warned that VW's latest findings could further weigh on its results. The latest revelation about fuel economy and carbon dioxide emissions, which Germany's largest automaker said represented a roughly 2 billion euro ($2.19 billion) economic risk, deepened the crisis at VW. The scandal initially centered on software on up to 11 million diesel v
  
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• Moscovici confident of 'compromise' with Greece on remaining reforms

  03-11-2015 23:24 via news.yahoo.com
  
  The EU's economic affairs commissioner, Pierre Moscovici, voiced confidence Tuesday that Greece would reach a "compromise" with its creditors by the end of the week on remaining reforms demanded under its third bailout. Speaking at a press conference in Athens after talks with Prime Minister Alexis Tsipras and Finance Minister Euclid Tsakalotos, the commissioner said there were "three or four issues" still on the table. "With the spirit of compromise, I believe that we'll find a compromise by th
  
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• UPDATE 2-Obama to rule on Keystone despite builder's plea for delay

  03-11-2015 22:54
  WASHINGTON, Nov 3 (Reuters) - President Barack Obama wants to rule on the long-pending Keystone XL oil pipeline by the end of his presidency, the White House said on Tuesday, calling a request by the...
  
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• UPDATE 1-Devon Energy has $3.5 bln quarterly loss on writedowns

  03-11-2015 22:54
  Nov 3 (Reuters) - Devon Energy Corp on Tuesday reported a quarterly loss compared with a year-earlier profit, as low prices prompted the onshore U.S. oil and gas company to write down the value of...
  
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• UPDATE 2-Canadian auto sales headed for record year - consultant

  03-11-2015 22:53
  MONTREAL, Nov 3 (Reuters) - Canadian auto sales beat expectations in October, rising 5.1 percent compared with a record-setting October 2014, according to data compiled by DesRosiers Automotive...
  
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• UPDATE 1-CBS revenue misses estimates due to lower advertising sales

  03-11-2015 22:53
  Nov 3 (Reuters) - CBS Corp, owner of the most-watched U.S. TV network, reported quarterly revenue slightly below analysts' estimates due to lower advertising sales and content licensing fees.
  
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• Private equity firm Lovell Minnick raises $750 million for new fund

  03-11-2015 22:52
  NEW YORK (Reuters) - Private equity firm Lovell Minnick Partners said it raised $750 million for its fourth institutional buyout fund, which is focused on middle-market financial services companies.
  
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• U.S. might take more steps to relax Cuba embargo, official says

  03-11-2015 22:51
  HAVANA, Nov 3 (Reuters) - U.S. President Barack Obama could further relax the U.S. trade embargo of Cuba, a senior State Department official said on Tuesday, adding that Washington would not first...
  
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• UPDATE 1-Groupon co-founder Lefkofsky stepping down as CEO, to be chairman

  03-11-2015 22:48
  Nov 3 (Reuters) - Groupon Inc, operator of daily deals website groupon.com, said co-founder Eric Lefkofsky was stepping down from the post of chief executive and would return to the role of chairman,...
  
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• Wall Street closes higher lifted by energy; Treasury yields rise

  03-11-2015 22:42 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - U.S. stocks closed higher on Tuesday, adding to the previous session's rally as rising oil prices boosted the energy sector, while U.S. Treasury yields rose on speculation about a possible December Federal Reserve interest rate hike. While energy stocks have risen 22 percent since late August, the sector is still down 10 percent year to date.
  
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• Energy, tech push stocks up; Nasdaq 100 sets record

  03-11-2015 22:42 via news.yahoo.com
  
  (Reuters) - Big tech and energy sector gains drove U.S. stocks higher on Tuesday, as an index of 100 major Nasdaq companies finished at a record closing high.
  
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• Santander Brasil plans to buy back 1 pct of outstanding shares

  03-11-2015 22:41
  SAO PAULO, Nov 3 (Reuters) - Banco Santander Brasil SA, the largest foreign lender operating in Brazil, could spend as much as 581 million reais ($155 million) buying back as much as 1 percent of...
  
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• US STOCKS-Energy, tech push stocks up; Nasdaq 100 sets record

  03-11-2015 22:40
  * Indexes up: Dow 0.5 pct, S&P 0.27 pct, Nasdaq 0.35 pct (Updates to close)
  
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• GLOBAL MARKETS-Wall Street closes higher lifted by energy; Treasury yields rise

  03-11-2015 22:40
  * Nasdaq 100 has record close, S&P revisits July levels (Updates with U.S. stock market close, commentary)
  
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• Devon Energy has $3.5 bln quarterly loss on writedowns

  03-11-2015 22:29
  Nov 3 (Reuters) - Devon Energy Corp on Tuesday reported a quarterly loss compared with a year-earlier profit, as low prices prompted the onshore U.S. oil and gas company to write down the value of...
  
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• UPDATE 4-U.S. fines Takata, bans ammonium nitrate in its air bags

  03-11-2015 22:26
  WASHINGTON/DETROIT, Nov 3 (Reuters) - The top U.S. auto safety regulator on Tuesday imposed a fine that could be as high as $200 million on air-bag supplier Takata Corp and ordered it to stop making...
  
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• Oasis Petroleum quarterly profit drops 78 percent

  03-11-2015 22:26
  Nov 3 (Reuters) - North Dakota oil producer Oasis Petroleum Inc said on Tuesday its quarterly profit fell 78 percent due to plunging crude prices.
  
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• Private equity firm Lovell Minnick raises $750 mln for new fund

  03-11-2015 22:25
  NEW YORK, Nov 3 (Reuters) - Private equity firm Lovell Minnick Partners said it raised $750 million for its fourth institutional buyout fund, which is focused on middle-market financial services...
  
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• US stocks close higher, helped by energy, auto sales

  03-11-2015 22:24 via news.yahoo.com
  
  NEW YORK (AP) — A rally in energy companies helped push the U.S. stock market higher for a second straight day on Tuesday. Investors also worked through corporate news and prepared for key U.S. economic data later this week.
  
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• Groupon names Rich Williams CEO

  03-11-2015 22:21
  Nov 3 (Reuters) - Groupon Inc, operator of daily deals website groupon.com, said Chief Operating Officer Rich Williams would succeed Eric Lefkofsky as chief executive officer.
  
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• CBS third-quarter revenue falls 3.3 percent

  03-11-2015 22:12
  Nov 3 (Reuters) - CBS Corp, owner of the most-watched U.S. TV network, reported a 3.3 percent fall in quarterly revenue due to lower advertising and content licensing revenue.
  
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• Tech, energy lead Wall St. higher; Nasdaq 100 sets record

  03-11-2015 22:11 via news.yahoo.com
  
  NEW YORK (Reuters) - Big tech and energy sector gains drove U.S. stocks higher on Tuesday, boosting an index of 100 major Nasdaq companies to a record closing high. The Dow Jones industrial average rose 89.39 points, or 0.5 percent, to 17,918.15, the S&P 500 gained 5.74 points, or 0.27 percent, to 2,109.79 and the Nasdaq Composite added 17.98 points, or 0.35 percent, to 5,145.13. The Nasdaq 100 rose 0.32 percent to close at 4,719.053 breaking a record that stood since March 2000. (Reporting
  
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• UPDATE 1-FTC approves Mylan's hostile bid for Perrigo with conditions

  03-11-2015 22:10
  WASHINGTON, Nov 3 (Reuters) - Mylan received U.S. antitrust approval for its hostile bid for Irish-based generic drugmaker Perrigo Co, the Federal Trade Commission said on Tuesday.
  
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• US STOCKS SNAPSHOT-Tech, energy lead Wall St higher; Nasdaq 100 sets record

  03-11-2015 22:09
  NEW YORK, Nov 3 (Reuters) - Big tech and energy sector gains drove U.S. stocks higher on Tuesday, boosting an index of 100 major Nasdaq companies to a record closing high.
  
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• Tesla reports biggest loss in 10 quarters

  03-11-2015 22:09
  Nov 3 (Reuters) - Electric car maker Tesla Motors Inc reported its biggest loss in 10 quarters as it spent heavily on the rollout of the Model X SUV and the development of the Model 3 vehicle.
  
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• "Farmville" creator Zynga's CFO steps down

  03-11-2015 22:08
  Nov 3 (Reuters) - "FarmVille" game maker Zynga Inc said Chief Financial Officer David Lee was stepping down and Chief Accounting Officer Michelle Quejado was taking over as interim CFO.
  
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• S&P downgrades Fairway, calls capital structure unsustainable

  03-11-2015 22:01
  NEW YORK, Nov 3 (Reuters) - Fairway Group Holdings Corp was downgraded to a low junk grade by Standard & Poor's, which said the operator of Fairway supermarkets may need to restructure its debt or...
  
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• Hedge fund Marcato gains 8.4 percent in October: source

  03-11-2015 21:47
  (Reuters) - Activist hedge fund Marcato Capital Management gained 8.4 percent last month as its bets on Goodyear Tire & Rubber Co, NCR Corp, and its recently acquired stake in LPL Financial Holdings...
  
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• Morgan Stanley Americas M&A head Eatroff departs for Comcast

  03-11-2015 21:44
  (Reuters) - Morgan Stanley's Americas M&A chief Bob Eatroff is leaving the bank for a corporate development role at Comcast Corporation, the second departure this fall of a senior dealmaker at the...
  
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• Wall Street rises, as energy stocks continue run

  03-11-2015 21:07 via news.yahoo.com
  
  (Reuters) - A fifth straight day of gains for energy shares drove U.S. stocks higher on Tuesday, while big tech names also helped propel the major indexes.
  
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• Wall Street up as oil lifts energy; Treasury yields rise

  03-11-2015 21:02 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - Wall Street shares gained on Tuesday, adding to the previous session's rally as a crude oil price rise boosted the energy sector, while U.S. Treasury yields rose on speculation about the timing for a Federal Reserve interest rate hike. The Dow Jones Industrial Average was the strongest of the three major U.S. indexes, led by oil company Chevron , while rival Exxon Mobil was one of the biggest drivers for the S&P 500. In afternoon trading the Dow Jones ind
  
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• VW sees 800,000 more cars affected by 'inconsistencies'

  03-11-2015 20:56 via news.yahoo.com
  
  BERLIN/FRANKFURT (Reuters) - Volkswagen said on Tuesday it found data "inconsistencies" on carbon dioxide emissions for 800,000 more cars, the latest sign of trouble for Europe's biggest automaker, already reeling from an emissions scandal. Volkswagen said it faces about 2 billion euros ($2.19 billion) in economic risks from the newly disclosed issue, which mostly affects small diesel engines and one gasoline one. "From the very start I have pushed hard for the relentless and comprehensive clari
  
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• U.S. fines on Takata could be $200 million for faulty air bags

  03-11-2015 20:28
  WASHINGTON, Nov 3 (Reuters) - The top U.S. safety regulator has imposed a fine that could be as high as $200 million on air-bag supplier Takata Corp and ordered it to quit making air-bag inflators...
  
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• UPDATE 1-Bombardier sees new Global business jets in service by 2018

  03-11-2015 20:24
  Toronto, Nov 3 (Reuters) - Bombardier Inc  is confident its all new Global 7000 business jet will meet the target for entering service in the second half of 2018, the head of its business aircraft...
  
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• Porsche ABS bond deal pulled as emissions scandal expands

  03-11-2015 20:23
  NEW YORK, Nov 3 (IFR) - Porsche pulled a US$505.3m auto bond deal from the market on Tuesday after US environmental regulators said the luxury carmaker, like parent Volkswagen, had cheated on...
  
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• FTC approves hostile Mylan takeover of Perrigo with conditions

  03-11-2015 20:20
  WASHINGTON, Nov 3 (Reuters) - Mylan received U.S. antitrust approval for a hostile takeover of Irish-based generic drugmaker Perrigo Co, the Federal Trade Commission said on Tuesday.
  
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• U.S. to continue Keystone XL review amid TransCanada request for a pause

  03-11-2015 20:19
  WASHINGTON, Nov 3 (Reuters) - The U.S. State Department said on Tuesday it will continue its review of the proposed Keystone XL pipeline while considering TransCanada's request for a pause in the...
  
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• Oregon Health Authority has confirmed 12 E. coli cases linked to Chipotle

  03-11-2015 20:19
  LOS ANGELES, Nov 3 (Reuters) - Oregon Health Authority officials say have confirmed 12 E. coli cases linked to Chipotle Mexican Grill Outbreak has resulted in three hospitalizations, no deaths -...
  
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• UPDATE 1-Draghi says ECB to review policy in December, willing and able to act

  03-11-2015 20:16
  FRANKFURT, Nov 3 (Reuters) - The European Central Bank's (ECB) policymakers will review the degree of monetary stimulus they have deployed when they meet in December and remain willing and able to...
  
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• US stocks solidly higher, helped by energy, auto sales

  03-11-2015 20:13 via news.yahoo.com
  
  NEW YORK (AP) — U.S. stocks were moving solidly higher Tuesday as investors worked through a raft of corporate news and prepared for key U.S. economic data later this week. Energy companies advanced for a second day along with the price of oil.
  
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• PRECIOUS-Gold extends slide for fifth session, hits four-week low

  03-11-2015 20:12
  * Assets in SPDR gold fund fall to 3-week low (Adds comment, byline, NEW YORK dateline; updates prices)
  
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• Fed mulling higher capital cushion for banks handling commodities: FT

  03-11-2015 20:08
  
  WASHINGTON (Reuters) - The U.S. Federal Reserve is considering requiring banks that handle physical commodities to increase their capital buffers as a hedge against accidents, such as tanker spills...
  
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• UPDATE 2-Comedian Jon Stewart returns in HBO short-form deal

  03-11-2015 20:07
  NEW YORK, Nov 3 (Reuters) - Comedian Jon Stewart has signed a deal with cable television channel HBO to produce short-form digital content on current events in what will be his first announced...
  
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• UPDATE 1-White House says unusual to 'pause' Keystone XL pipeline review

  03-11-2015 20:00
  WASHINGTON, Nov 3 (Reuters) - The White House said on Tuesday it would be "unusual" to pause the U.S. government's years-long review process of TransCanada Corp's proposed Keystone XL oil...
  
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• UPDATE 1-Fed mulling higher capital cushion for banks handling commodities -FT

  03-11-2015 19:57
  WASHINGTON, Nov 3 (Reuters) - The U.S. Federal Reserve is considering requiring banks that handle physical commodities to increase their capital buffers as a hedge against accidents, such as tanker...
  
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• UN official 'delighted' at VW scandal, sees clean car 'revolution'

  03-11-2015 19:57
  WASHINGTON, Nov 3 (Reuters) - The United Nations climate change chief said on Tuesday she was "delighted" by the Volkswagen emissions cheating scandal because the company will now hasten...
  
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• Wall Street moves higher fueled by energy stocks

  03-11-2015 19:54 via news.yahoo.com
  
  A surge in oil prices fuelled a rally in energy companies, helping the S&P and Nasdaq reverse course to move higher in afternoon trading on Tuesday, while the Dow added to its gains. The S&P 500 index showed 13 new 52-week highs and one new low, while the Nasdaq recorded 65 new highs and 18 new lows.
  
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• Baron Growth fund adds biotechs Atara, ConforMIS to portfolio

  03-11-2015 19:54
  NEW YORK, Nov 3 (Reuters) - The $7 billion Baron Growth fund initiated positions in biotechnology firms Atara Biotherapeutics Inc and ConforMIS Inc during a sell-off in biotech companies last...
  
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• REFILE-White House says politics may be at play on Keystone pipeline timing

  03-11-2015 19:52
  WASHINGTON, Nov 3 (Reuters) - White House spokesman Josh Earnest said on Tuesday there may be political considerations behind calls to pause the review process for TransCanada Corp's proposed...
  
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• Brazil judge convicts former Mendes Junior VP in Petrobras case

  03-11-2015 19:49
  BRASILIA, Nov 3 (Reuters) - The federal judge handling the Petrobras corruption cases sentenced the former vice president of Brazilian engineering firm Mendes Junior to 19 years and four months in...
  
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