Finance news

• WRAPUP 3-Germany to retest VW cars as scandal pushes Berlin to act

  04-11-2015 23:51
  BERLIN, Nov 4 (Reuters) - Germany is to retest all Volkswagen car models to gauge their genuine emissions levels after new revelations from the carmaker six weeks into its biggest-ever corporate...
  
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• US stocks dip as Yellen sees December rate hike chance

  04-11-2015 23:44 via news.yahoo.com
  
  Wall Street stocks dropped Wednesday after Federal Reserve Chair Janet Yellen said the US central bank could lift interest rates in December. Yellen, speaking in a congressional hearing, said a rate hike next month was a "live possibility" if data continues to show solid economic growth.
  
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• Wall St. ends down after energy slide, Yellen comments

  04-11-2015 23:39 via news.yahoo.com
  
  Stocks added to losses after comments by Yellen, who told Congress the Fed expects the economy to continue to grow at a pace that returns inflation to policy-makers' target and that "if the incoming information supports that expectation ... December would be a live possibility" for a rate increase. "It's really that uncertainty - investors don't know whether to applaud a rate hike or to fear it," said Bruce Zaro, chief technical strategist at Bolton Global Asset Management in Boston.
  
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• While China growth slows, cash-hungry firms steer Asia IPOs into fast lane

  04-11-2015 23:22
  
  HONG KONG (Reuters) - As the world absorbs life with a slowing Chinese economy, business is brisk for one group - Asia's bankers, handling a burst of stock listings by mainland firms that need funds...
  
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• Facebook revenue, profit beat forecasts; shares hit all-time high

  04-11-2015 23:21 via news.yahoo.com
  
  By Yasmeen Abutaleb and Lehar Maan SAN FRANCISCO (Reuters) - Facebook Inc posted a surprisingly strong 40.5 percent jump in quarterly revenue as new advertising services and its mobile app boosted ad sales at the world's largest social network. Third-quarter profit also beat Wall Street's average estimate despite increased spending on Facebook's Messenger and WhatsApp apps and Oculus, its virtual reality business. Ad revenue grew 45.4 percent to $4.30 billion, with mobile ads accounting for 78 p
  
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• UPDATE 2-FireEye quarterly revenue misses estimates, shares plunge

  04-11-2015 23:17
  Nov 4 (Reuters) - FireEye Inc reported quarterly revenue below analysts' expectations as a clamp down on cyber spying by United States and China led to lower demand for the company's security...
  
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• UPDATE 2-Facebook revenue, profit beat forecasts; shares hit all-time high

  04-11-2015 23:14
  SAN FRANCISCO, Nov 4 (Reuters) - Facebook Inc posted a surprisingly strong 40.5 percent jump in quarterly revenue as new advertising services and its mobile app boosted ad sales at the world's...
  
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• Expedia to buy HomeAway for $3.9 billion in cash and stock

  04-11-2015 22:49
  
  (Reuters) - Online travel services company Expedia Inc said it agreed to buy HomeAway Inc, an online vacation rental marketplace operator, for about $3.9 billion in cash and stock.
  
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• UPDATE 1-GoDaddy Q3 revenue beats as demand rises for web hosting

  04-11-2015 22:48
  Nov 4 (Reuters) - Web-hosting company GoDaddy Inc reported third-quarter revenue that topped analysts' estimates as demand for its domain-registration and web-hosting services rose.
  
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• UPDATE 1-Qualcomm profit, revenue beat on strong demand for mobile chips

  04-11-2015 22:45
  Nov 4 (Reuters) - Qualcomm Inc reported higher-than-expected quarterly profit and revenue, helped by lower costs and strong demand for the new version of its Snapdragon mobile chips.
  
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• Wall Street ends down after energy slide, Yellen comments

  04-11-2015 22:44 via news.yahoo.com
  
  U.S. stocks edged lower on Wednesday, retracing recent gains along with energy shares, while comments by Federal Reserve Chair Janet Yellen pointing to a possible rate hike in December added to investor caution. The fall snapped a run of five straight days of gains for the index, with shares of Chevron down 1.4 percent at $96.77 and Exxon Mobile down 1.0 percent at $85.98. Stocks added to losses after Yellen's comments, which caused investors to reset their expectations of a December rate hike a
  
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• Silver Wheaton interested in streaming deals on other Glencore assets

  04-11-2015 22:44
  (Reuters) - Silver Wheaton Corp , which struck a financing deal with Glencoreon Tuesday, is interested in doing similar "streaming" deals on two other assets owned by the Swiss-based miner and...
  
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• U.S. stocks fall, yields up after Fed boosts rate hike expectations

  04-11-2015 22:42 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - Wall Street stocks ended down on Wednesday as energy stocks turned lower on a drop in oil prices and two Federal Reserve officials said U.S. economic strength could justify a December interest rate hike. The U.S. dollar hit an almost three-month high and U.S. Treasury yields soared after the Fed comments, building on a rise from unexpectedly strong private-sector U.S. job growth and other data that reflected well on the world's largest economy. Yellen told Co
  
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• Whole Foods to buy back $1 billion in shares, raises dividend

  04-11-2015 22:26
  (Reuters) - Upscale grocer Whole Foods Market Incsaid it would buy back an additional $1 billion in shares and increased its quarterly dividend.
  
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• Migrant crisis no excuse for Greece to ease up on reforms: EU's Moscovici

  04-11-2015 21:14 via news.yahoo.com
  
  By Lefteris Papadimas and Angeliki Koutantou ATHENS (Reuters) - Greece's migrant crisis should not lead it to let up on reforms needed to comply with its multi-billion-euro bailout, European Economic Commissioner Pierre Moscovici said on Wednesday. On a visit to Athens, Moscovici was asked if allowances should be made for countries bearing the brunt of the flood of people. "The Commission has but one compass, that of the growth and stability pact, and rules should be implemented," he said, speak
  
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• UPDATE 1-Illinois top court voids $10.1 bln Philip Morris 'light' verdict

  04-11-2015 21:09
  * Plaintiffs can still pursue case in Illinois Supreme Court (Adds statements from plaintiffs' lawyer, Philip Morris)
  
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• For policy, Fed must consider not just macro but micro economy: Dudley

  04-11-2015 21:04 via news.yahoo.com
  
  The Federal Reserve must look beyond broad measures of the U.S. labor and housing market to understand how its policies affect individual Americans, New York Fed President William Dudley said on Wednesday. In remarks that did not address the current state of U.S. monetary policy, Dudley said that "micro-level" economic data can paint a different picture of the U.S. economy and must be better understood. "Looking at the national unemployment rate tells only part of the story of the labor market e
  
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• Canada's Enbridge to invest $5 billion in Gulf Coast: WSJ

  04-11-2015 20:24 via news.yahoo.com
  
  (Reuters) - Enbridge Inc plans to spend $5 billion to build three oil storage facilities in the U.S. Gulf Coast, according to a media report on Wednesday, an expansion that would help the Canadian pipeline company stake a claim in the profitable exporting business. In addition, the U.S. House of Representative passed a bill last month to repeal the ban, though it has yet to be signed into law. Enbridge's plan would call for three terminals stretching from Houston toward New Orleans at St. J
  
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• Fed's Yellen sees possible December rate rise, gradual hiking path

  04-11-2015 19:14 via news.yahoo.com
  
  Federal Reserve Chair Janet Yellen on Wednesday pointed to a possible December interest rate "liftoff" but said rates would rise only slowly from then on to nurture the U.S. economic recovery. In her first public comments since the Fed's meeting last week Yellen laid out what now appears the base case at the U.S. central bank - that low unemployment, continued growth and faith in a coming return of inflation means the country is ready for higher interest rates. "What the committee has been expec
  
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• Clients say CMC has made refund offer over Swiss franc losses

  04-11-2015 19:12
  LONDON, Nov 4 (Reuters) - Online trading firm CMC Markets
  has offered to refund clients for all of the losses resulting
  from the company's repricing of losing trades in the Swiss
  franc's surge in...
  
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• Wall St. down as Yellen says December 'live' for rate hike

  04-11-2015 19:08 via news.yahoo.com
  
  "What the committee has been expecting is that the economy will continue to grow at a pace that is sufficient to generate further improvements in the labor market and to return inflation to our 2 percent target over the medium term," Yellen said. "It's been a real soap opera for the markets about whether the Fed is going to move or aren't they going to move," said Scott Brown, chief economist at Raymond James in Florida. Traders raised the odds of a December hike to 58 percent, from 52 percent b
  
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• Wall St down as Yellen says Dec "live" for rate hike

  04-11-2015 19:08 via news.yahoo.com
  
  Wall Street was lower on Wednesday, following two straight days of gains, after Federal Reserve Chair Janet Yellen said a rate hike in December was a "live" possibility, but not a certainty. "What the committee has been expecting is that the economy will continue to grow at a pace that is sufficient to generate further improvements in the labor market and to return inflation to our 2 percent target over the medium term," Yellen said.
  
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• Illinois top court voids $10.1 bln Philip Morris 'light' verdict

  04-11-2015 18:54
  Nov 4 (Reuters) - The Illinois Supreme Court on Wednesday threw out a $10.1 billion verdict against Philip Morris USA in a long-running lawsuit accusing the Altria Group Inc unit of misleading...
  
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• Fed would consider negative rates if economy soured: Yellen

  04-11-2015 18:32 via news.yahoo.com
  
  The Federal Reserve would consider pushing interest rates below zero if the U.S. economy took a serious turn for the worse, Fed Chair Janet Yellen said on Wednesday. "Potentially anything - including negative interest rates - would be on the table.
  
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• Clinton charity, under pressure, will amend tax return errors

  04-11-2015 18:30 via news.yahoo.com
  
  By Jonathan Allen NEW YORK (Reuters) - The Bill, Hillary & Chelsea Clinton Foundation's flagship health project changed its mind again on Wednesday on the matter of its erroneous tax returns, saying it would refile them with the U.S. Internal Revenue Service after all. The Clinton Health Access Initiative (CHAI) said the decision to refile its 2012 and 2013 returns was in response to "recent media interest." Its brief statement made no mention of Republican criticism earlier in the week, whe
  
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• U.S. economy seen growing 2.3 percent in fourth quarter: Atlanta Fed

  04-11-2015 18:16 via news.yahoo.com
  
  The U.S. economy is on track to grow 2.3 percent in the fourth quarter with expected stronger consumer spending and investment growth in the wake of data on U.S. services sector activity in October, the Atlanta Federal Reserve's GDPNow forecast model showed on Wednesday. This was faster than the regional Fed's prior estimate of 1.9 percent rate on Monday, the Atlanta Fed said on its website. The model upgraded its outlook on fourth-quarter real consumer spending growth to 2.7 percent from 2.4 pe
  
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• U.S. stocks down, yields up after Yellen boosts rate hike expectations

  04-11-2015 18:12 via news.yahoo.com
  
  Wall Street stocks, unable to follow a rally in European and Asian stocks on Wednesday, fell further after Federal Reserve Chair Janet Yellen said the U.S. economy is "performing well" and could justify an interest rate hike in December. The U.S. dollar and U.S. Treasury yields moved higher after Yellen's comments, building on a rise that followed earlier data showing stronger-than-expected private-sector U.S. job growth. Yellen told Congress the Fed expects the economy to continue to grow at a
  
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• Yellen: December interest rate hike a "live possibility"

  04-11-2015 18:10 via news.yahoo.com
  
  WASHINGTON (AP) — Federal Reserve Chair Janet Yellen said Wednesday that an interest rate hike in December would be a "live possibility" if the economy stays on track.
  
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• Fed's Yellen says growth in U.S. domestic economy is 'solid'

  04-11-2015 18:09 via news.yahoo.com
  
  WASHINGTON (Reuters) - America's domestic economy is growing at a "solid pace" but overall economic growth is being held back by weakness abroad, Federal Reserve Chair Janet Yellen said on Wednesday.
  
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• Britain's FTSE ends higher, miners advance

  04-11-2015 18:04
  LONDON Nov 4 (Reuters) - Britain's top share index closed higher on Wednesday, with a rally in mining stocks on expectations of a pick up-in metals demand and encouraging results from companies such...
  
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• Watchdogs struggle to explain 'optimism bias' in rosy GDP forecasts

  04-11-2015 18:01 via news.yahoo.com
  
  Chances are, the world economy has been in worse shape than you thought for years. Especially if you were reading the headline forecasts from the IMF, World Bank and OECD. Having repeatedly overestimated the world economic rebound since the 2007-08 crisis, they say they are gradually gaining a better understanding of why their forecasts were so wrong, and are working to fix their models.
  
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• U.S. economic data seen supporting December interest rate hike

  04-11-2015 17:59 via news.yahoo.com
  
  U.S. private employers maintained a steady pace of hiring in October and a jump in new orders buoyed activity in the services sector, suggesting the economy was strong enough to support an interest rate hike from the Federal Reserve in December. Fed Chair Janet Yellen told lawmakers on Wednesday the U.S. economy is "performing well" and a December rate hike could be justified. "You have a set of data thus far that tells the Fed that things are in good shape going into the fourth quarter and is g
  
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• Mylan not relying on acquisitions if Perrigo bid fails: chairman

  04-11-2015 17:51
  
  TEL AVIV (Reuters) - Mylan will likely win its bid to take over Irish-based generic drugmaker Perrigo Co, but if the bid fails the company can live without seeking an alternative acquisition, its...
  
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• Yellen: Economy 'performing well,' December 'live' for rate hike

  04-11-2015 17:47 via news.yahoo.com
  
  WASHINGTON (Reuters) - The U.S. economy is "performing well" and could justify an interest rate hike in December, Federal Reserve Chair Janet Yellen told Congress on Wednesday. "I see underutilization of labor resources as having diminished significantly," Yellen said, with inflation expected to rise over the medium term. The Fed is "expecting the economy will continue to grow at a pace to return inflation to our target over the medium term," she said. "If the incoming information supports that
  
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• Anheuser-Busch extends Bud Light sponsorship of NFL until 2022

  04-11-2015 17:45 via news.yahoo.com
  
  Anheuser-Busch InBev SA said on Wednesday it had expanded Bud Light's multi-year beer sponsorship deal with the National Football League and extended it until the 2022 Super Bowl season from its original expiry after the 2017 season. The Belgian brewer did not disclose the value of the deal, but the Wall Street Journal reported that it was worth more than $1.4 billion, a more-than 15 percent increase over AB InBev's current six-year agreement. Bud Light will also be able to use current-season NF
  
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• Wall St. slips as Yellen says December hike 'live' possibility

  04-11-2015 17:26 via news.yahoo.com
  
  (Reuters) - Wall Street was lower on Wednesday morning after Federal Reserve Chair Janet Yellen said a rate hike in December was a "live" possibility, but not a certainty.
  
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• Yellen: US economy doing well; December rate hike possible

  04-11-2015 17:23 via news.yahoo.com
  
  Federal Reserve Chair Janet Yellen said Wednesday that US economic activity remains solid and that the Fed could decide to increase interest rates at its December meeting. "At this point I see the US economy as performing well," she told a congressional panel. Domestic spending is growing "at a solid pace" and the Fed expects the economy will continue to grow fast enough to boost the labor market and begin pushing inflation toward the Fed's 2.0 percent target, she said.
  
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• Wall St slips as Yellen says Dec hike "live" possibility

  04-11-2015 17:20 via news.yahoo.com
  
  Wall Street was lower on Wednesday morning after Federal Reserve Chair Janet Yellen said a rate hike in December was a "live" possibility, but not a certainty. The Fed is "expecting the economy will continue to grow at a pace to return inflation to our target over the medium term," Yellen told Congress. A raft of data on Wednesday suggested the economy was strong enough to support an interest rate hike.
  
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• Bank of America close to naming new general counsel: WSJ

  04-11-2015 17:18 via news.yahoo.com
  
  (Reuters) - Bank of America Corp is close to naming outgoing Ford Motor Co General Counsel David Leitch as its new general counsel, The Wall Street Journal reported on Wednesday.
  
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• Fed plans only gradual rate hikes to protect housing: Yellen

  04-11-2015 17:15 via news.yahoo.com
  
  (Reuters) - The Federal Reserve expects to raise U.S. interest rates only gradually in part to protect the housing market and avoid a "sharp" rise in mortgage rates, Fed Chair Janet Yellen said on Wednesday.
  
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• Miners boost Britain's FTSE to 1-week high

  04-11-2015 17:04
  LONDON Nov 4 (Reuters) - Britain's top share index climbed to its highest level in more than a week on Wednesday, buoyed by a strong rally in mining stocks and encouraging results from companies such...
  
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• UPDATE 1-Avon to take "critical" look at dividends in 2016

  04-11-2015 17:03
  Nov 4 (Reuters) - Avon Products Inc, a direct seller of cosmetics, said it would look at dividend payments with a "more critical lens" in 2016, as it expects a bigger impact from the strong dollar.
  
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• Chesapeake cuts budget again on weak oil and gas prices

  04-11-2015 16:59 via news.yahoo.com
  
  The Oklahoma City, Oklahoma company's shares fell 5 percent to $7.25 in morning New York Stock Exchange trading, as third-quarter cash flow fell short of Wall Street estimates. U.S. oil and gas producers are slashing budgets, costs and streamlining operations as a near 60 percent drop in global oil prices since June last year saps profitability. "We intend to meaningfully reduce our capital spending next year," Chesapeake Chief Executive Doug Lawler told investors on a conference call.
  
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• UPDATE 3-Chesapeake cuts budget again on weak oil and gas prices

  04-11-2015 16:55
  * Shares down 5 percent (Updates share price, adds details from conference call)
  
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• Wall St moves lower as energy sector rally ends

  04-11-2015 16:51 via news.yahoo.com
  
  Wall Street was slightly lower on Wednesday morning, after two days of gains, fueled by a rally in energy stocks, pushed the three main indexes to within touching distance of their record highs. The S&P 500 was down 1.63 points, or 0.08 percent, at 2,108.16 and the Nasdaq composite index was down 1.00 points, or 0.02 percent, at 5,144.13. A report showing the private sector added more jobs than expected last month gave investors some optimism about the health of the labor market ahead of Fri
  
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• Private survey: Growth of US services sector surged in Oct.

  04-11-2015 16:32 via news.yahoo.com
  
  WASHINGTON (AP) — U.S. services companies grew at an accelerated pace in October as business activity, new orders and employment all strengthened, suggesting that the economy is building momentum from consumer demand in the final months of 2015.
  
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• The first jobs of four social entrepreneurs who changed the world

  04-11-2015 16:28
  
  In the days of railroad barons and oil tycoons, it might have meant amassing the most cash possible. These days, the idea of true success has shifted toward the "social entrepreneur" - those who can...
  
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• Avon to take "critical" look at dividends in 2016

  04-11-2015 16:20
  Nov 4 (Reuters) - Avon Products Inc, a direct seller of cosmetics, said it would look at dividend payments with a "more critical lens" in 2016 as it expects the dollar to have a bigger impact on...
  
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• Groupon deals another blow to investors

  04-11-2015 16:13
  Nov 4 (Reuters) - Exactly four years ago, Groupon Inc's initial public offering was priced at $20, valuing the company at $13 billion.
  
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• US stocks waver in early trading; jobs, earnings on radar

  04-11-2015 16:10 via news.yahoo.com
  
  NEW YORK (AP) — Stocks were wavering between small gains and losses Wednesday, as investors worked through another batch of company earnings from companies including CBS and Michael Kors.
  
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