Finance news

• U.S.-based stock funds attract $5.7 billion new money in week ended Nov 4: Lipper

  05-11-2015 23:44
  NEW YORK (Reuters) - U.S.-based stock funds took in $5.7 billion in new cash during the week ended Nov. 4, according to Lipper data released on Thursday.
  
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• Telecom Italia nine-month core earnings down 14.8 percent, in line with expectations

  05-11-2015 23:41 via news.yahoo.com
  
  MILAN (Reuters) - Telecom Italia on Thursday reported a 14.8 percent drop in core earnings for the first nine months, hit by one-off charges and further deterioration in its key Brazilian market. ...
  
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• Disney profit rises with gains at cable networks

  05-11-2015 23:34 via news.yahoo.com
  
  By Lisa Richwine and Devika Krishna Kumar (Reuters) - Walt Disney Co reported a rise in quarterly profit that beat Wall Street forecasts as cable networks including ESPN brought in higher advertising revenue and collected more fees from pay TV distributors. Revenue came in slightly below analysts' estimates. The company also said it lost subscribers at certain cable networks while it gained customers from the SEC Network launched last year. Disney shares fell 0.62 percent in after-hours trading
  
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• U.S. unions, lawmakers vow scrutiny of Pacific trade pact

  05-11-2015 23:19 via news.yahoo.com
  
  WASHINGTON/SYDNEY (Reuters) - U.S. unions, lawmakers and interest groups questioned the long-awaited text of a landmark Pacific trade deal on Thursday, setting up a potentially difficult path to ratification by the United States, the biggest of the 12 partners. Arguments over the Trans-Pacific Partnership agreement, aimed at cutting taxes and tariffs on commerce in 40 percent of the world's economy, are set to focus on transparency and how the pact affects workers and businesses. "It's worse tha
  
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• News Corp's revenue falls for third straight quarter

  05-11-2015 23:09 via news.yahoo.com
  
  (Reuters) - News Corp's quarterly revenue fell for the third straight quarter as income from its core news and information services business, which includes Dow Jones and the Wall Street Journal, declined further. The company, controlled by Rupert Murdoch, said on Thursday revenue from its news and information business fell about 11 percent to $1.29 billion in the first quarter. The business, which accounted for nearly two-thirds of its total revenue, has been struggling for the past few years a
  
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• TSX weighed down by earnings disappointments; Valeant plunge

  05-11-2015 23:08 via news.yahoo.com
  
  By Alastair Sharp TORONTO (Reuters) - A plunge in shares of drugmaker Valeant and sharp retreats in several other companies on the back of disappointing earnings reports pushed Canada's main stock index lower on Thursday. Valeant Pharmaceutical International Inc slumped 14.7 percent to C$103.37, touching its lowest level since mid-2013, heaping new pressure on its CEO after weeks of steep declines. Auto maker Magna International Inc fell 10.3 percent to C$62.42 after reporting a drop in quarterl
  
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• Stocks edge lower in quiet session before jobs report

  05-11-2015 22:55 via news.yahoo.com
  
  NEW YORK (AP) — The U.S. stock market ended Thursday's trading slightly lower as investors were hesitant to make any large bets before the release of the government's closely watched jobs report, out Friday.
  
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• News Corp's quarterly revenue falls 4.5 percent

  05-11-2015 22:47 via news.yahoo.com
  
  (Reuters) - News Corp's quarterly revenue fell 4.5 percent, the third straight quarter of decline, as revenue declined further in its core news and information services business, which includes Dow Jones and the Wall Street Journal. The net income available to the company's stockholders rose to $175 million, or 30 cents per share, in the first quarter ended Sept. 30 from $65 million, or 11 cents per share, a year earlier. Total revenue fell to $2.01 billion from $2.11 billion. (Reporting by Devi
  
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• Wall Street slips after mixed earnings as jobs report looms

  05-11-2015 22:43 via news.yahoo.com
  
  Qualcomm weighed the most on the S&P 500, falling 15.3 percent to $51.07 after the chipmaker forecast first-quarter profit below expectations. Overall declines were limited by a rise in Facebook shares following the social media company's strong quarterly results, and a 0.4 percent gain in the financial sector . Facebook shares jumped 4.6 percent to $108.76.
  
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• Wall St slips after mixed earnings as jobs report looms

  05-11-2015 22:43 via news.yahoo.com
  
  (Reuters) - U.S. stocks edged lower on Thursday as investors digested mixed tech and healthcare earnings a day ahead of Friday's U.S. jobs report.
  
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• U.S. stocks fall with oil, other commodities; yields rise

  05-11-2015 22:42 via news.yahoo.com
  
  By Sinead Carew NEW YORK (Reuters) - Wall Street closed lower on Thursday as energy shares were weighed down by falling crude prices while U.S. treasury yields rose and gold prices fell as investors bet U.S. jobs on Friday could help prompt an interest rate hike as soon as next month. A day after Federal Reserve Chair Janet Yellen referred to December as a "live possibility" for a U.S. rate hike, investors were waiting for Friday's key monthly nonfarm payrolls report to gauge if the data is stro
  
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• Caesars examiner delays delivery of pre-bankruptcy investigation

  05-11-2015 22:41
  CHICAGO, Nov 5 (Reuters) - An independent investigation into
  transactions by casino giant Caesars Entertainment Operating Co,
  CEOC, prior to its $18 billion bankruptcy filing will not
  conclude by a...
  
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• US regulators: Still heavy risk in big bank loans

  05-11-2015 22:36 via news.yahoo.com
  
  WASHINGTON (AP) — Federal regulators say they're still seeing a heavy dose of risk in large loans made by banks and other financial institutions, despite the recovering U.S. economy.
  
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• TSX falls on string of disappointing earnings, Valeant slumps

  05-11-2015 22:08 via news.yahoo.com
  
  TORONTO (Reuters) - Canada's main stock index ended lower on Thursday, weighed down by a plunge in shares of drug maker Valeant Pharmaceuticals and disappointing reports from auto parts maker Magna International, pipeline operator Enbridge Inc and telecom company Telus Corp. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 103.04 points, or 0.75 percent, at 13,558.78. (Reporting by Alastair Sharp; Editing by James Dalgleish)
  
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• Valeant CEO feels heat as shares tumble to two-and-a-half year lows

  05-11-2015 22:03 via news.yahoo.com
  
  By Caroline Humer and Svea Herbst-Bayliss NEW YORK/BOSTON (Reuters) - Valeant Pharmaceuticals International Inc shares fell as much as 20 percent on Thursday to a level not seen since 2013, heaping new pressure on Chief Executive Officer Michael Pearson after weeks of steep losses due to concerns about the drugmaker’s business practices. Valeant has denied the allegations, but has not allayed investor concerns as new reports surface of questionable billing practices at Philidor. One new tr
  
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• Valeant CEO feels heat as shares tumble to 2-1/2 year lows

  05-11-2015 21:53 via news.yahoo.com
  
  By Caroline Humer and Svea Herbst-Bayliss NEW YORK/BOSTON (Reuters) - Valeant Pharmaceuticals International Inc shares fell as much as 20 percent on Thursday to a level not seen since 2013, heaping new pressure on Chief Executive Officer Michael Pearson after weeks of steep losses due to concerns about the drugmaker’s business practices. Valeant has denied the allegations, but has not allayed investor concerns as new reports surface of questionable billing practices at Philidor. One new tr
  
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• Brazil speaker faces ethics hearings over Swiss bank accounts

  05-11-2015 21:27 via news.yahoo.com
  
  A Brazilian Congressional ethics committee on Thursday picked a first-term legislator to lead an investigation into secret Swiss bank accounts allegedly held by Eduardo Cunha, the speaker of the lower house. The investigation, part of the fallout from a kickback scandal engulfing state-run oil company Petroleo Brasileiro SA, or Petrobras, could seal the political fate of Cunha, third in the line of presidential succession. It is therefore a crucial piece of an ongoing political drama surrounding
  
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• As barbs fly, Macri team says no need to fear Argentina devaluation

  05-11-2015 21:09 via news.yahoo.com
  
  Argentine presidential challenger Mauricio Macri's campaign fought back on Thursday against ruling party claims that his plan to remove currency controls would unleash a sharp devaluation, saying it would instead reboot the ailing economy. Macri's pro-market plan to dismantle a web of controls on the struggling economy delights foreign and local investors, but has been at the center of government fear-mongering in an increasingly bruising campaign ahead of a Nov. 22 run-off. In between, Argentin
  
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• Wall Street falls on mixed earnings as jobs report looms

  05-11-2015 21:01 via news.yahoo.com
  
  U.S. stocks slipped on Thursday, weighed down by energy and healthcare shares and a disappointing report from Qualcomm ahead of Friday's U.S. jobs report. Qualcomm was the biggest drag on the S&P 500, falling 16.7 percent after the chipmaker forecast first-quarter profit below expectations, while biotech Celgene fell 5.4 percent after its quarterly revenue missed targets. Losses were limited by Facebook's strong quarterly results which sent its shares to a record high, and a 0.4 percent rise
  
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• Release of Pacific trade text opens new ratification fight

  05-11-2015 21:01 via news.yahoo.com
  
  The long-secret text of the Trans-Pacific Partnership free-trade deal was released Thursday to expressions of support from business but vows by labor, environmental and health groups to fight ratification. The massive document, posted online by several governments, offered the first detailed look at the world's biggest free trade area, which aims to rip down barriers to commerce and investment between 12 countries comprising about 40 percent of the global economy. US President Barack Obama, who
  
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• Wall St falls on mixed earnings as jobs report looms

  05-11-2015 20:59 via news.yahoo.com
  
  Qualcomm was the biggest drag on the S&P 500, falling 16.7 percent after the chipmaker forecast first-quarter profit below expectations, while biotech Celgene fell 5.4 percent after its quarterly revenue missed targets. Losses were limited by Facebook's strong quarterly results which sent its shares to a record high, and a 0.4 percent rise in the financial sector . Facebook shares were up 5.1 percent at $109.25.
  
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• US STOCKS-Wall St falls on mixed earnings as jobs report looms

  05-11-2015 20:58 via news.yahoo.com
  
  U.S. stocks slipped on Thursday, weighed down by energy and healthcare shares and a disappointing report from Qualcomm ahead of Friday's U.S. jobs report. Qualcomm was the biggest drag on the S&P 500, ...
  
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• UPDATE 1-Canada minister to discuss Bombardier aid issue with officials

  05-11-2015 20:56
  OTTAWA, Nov 5 (Reuters) - Canada's newly appointed Innovation Minister Navdeep Bains said on Thursday that the topic of possible government aid to aerospace firm Bombardier will be discussed by...
  
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• UPDATE 1-Fed succeeded in shifting market view of rates liftoff -Lockhart

  05-11-2015 20:30
  Nov 5 (Reuters) - The U.S. Federal Reserve in its last policy statement was deliberately trying to convince investors of a possible December interest rate hike, and was successful in doing so,...
  
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• UPDATE 3-Revised defense bill sails through U.S. House, despite Guantanamo

  05-11-2015 20:28
  WASHINGTON, Nov 5 (Reuters) - The House of Representatives overwhelmingly passed the National Defense Authorization Act on Thursday, including $5 billion in spending cuts that were not contained in a...
  
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• Slovakia to seal JLR deal by year's-end: minister

  05-11-2015 20:19 via news.yahoo.com
  
  Indian-owned Jaguar Land Rover (JLR) will ink an agreement with Slovakia by year end to build a car manufacturing plant there, Slovakia's economy minister said Thursday. "By the end of this year an agreement will be signed, which creates a formal base for Land Rover to come to Slovakia," Economy Minister Vazil Hudak told reporters in Bratislava.
  
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• Fed's Lockhart: forces will pressure prices towards target

  05-11-2015 20:19
  BERN, Nov 5 (Reuters) - Pressure on U.S. prices will push inflation towards the Federal Reserve's target, a top official at the central bank said on Thursday.
  
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• UPDATE 1-Puerto Rico's PREPA formalizes deal with bondholders

  05-11-2015 20:18
  NEW YORK, Nov 5 (Reuters) - Puerto Rico's indebted utility PREPA has formalized restructuring deals it agreed with bondholders and lenders in September, although it is still negotiating with bond...
  
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• Unions, lawmakers promise closer scrutiny of Pacific trade pact

  05-11-2015 20:04 via news.yahoo.com
  
  By Krista Hughes and Matt Siegel WASHINGTON/SYDNEY (Reuters) - U.S. unions, lawmakers and interest groups questioned the long-awaited text of a landmark U.S.-backed Pacific trade deal on Thursday, setting up a potentially long and difficult path to ratification by the United States, the biggest of the 12 partners. Arguments over the Trans-Pacific Partnership agreement, aimed at freeing up commerce in 40 percent of the world's economy, are set to focus on transparency and how the pact affects wor
  
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• Iran bans US consumer goods: minister

  05-11-2015 20:02 via news.yahoo.com
  
  Iran is banning the entry of US consumer goods, the commerce and industry minister said Thursday, as the country prepares for a lifting of economic sanctions. "In order to boost national production, it is necessary... to stop entry of American consumer goods and to prohibit products that symbolise the presence of the United States in the country," Mohammad Reza Nematzadeh wrote on his ministry's website. The minister said the measure complies with a letter last month from supreme leader Ayatolla
  
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• Fed succeeded in shifting market view of rates liftoff: Lockhart

  05-11-2015 20:02 via news.yahoo.com
  
  (Reuters) - The U.S. Federal Reserve in its last policy statement was deliberately trying to convince investors of a possible December interest rate hike, and was successful in doing so, Atlanta Fed President Dennis Lockhart said on Thursday. "Going into that (October) meeting, I felt a successful outcome would be expectations aligning with the view that 'liftoff' at our upcoming December meeting is a possibility, but not a certainty," Lockhart said in remarks prepared for delivery at a conferen
  
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• INSIGHT-Feeling ignored, Fed jolts markets to prime them for lift-off

  05-11-2015 19:53
  NEW YORK/SAN FRANCISCO/WASHINGTON, Nov 5 (Reuters) - When the U.S. Federal Reserve tweaked its policy statement last week and put a December rate rise squarely back in play, it took a calculated...
  
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• EMERGING MARKETS-Brazil real bucks Latam losses as central bank acts

  05-11-2015 19:46
  SAO PAULO, Nov 5 (Reuters) - The Brazilian real strengthened more than 0.5 percent on Thursday, outperforming Latin American currencies, as the central bank intervened to provide liquidity to the...
  
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• Dow Chemical CEO meets investors to discuss strategy: CNBC

  05-11-2015 19:46
  
  (Reuters) - Dow Chemical Co Chief Executive Andrew Liveris has been meeting portfolio managers, CNBC reported on Thursday, citing sources.
  
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• UPDATE 2-China applies to join EBRD, board likely to recommend approval

  05-11-2015 19:42
  LONDON, Nov 5 (Reuters) - China has applied to become a member of the European Bank of Reconstruction and Development, the EBRD said on Thursday, giving Beijing a new way of extending its global...
  
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• UPDATE 1-Dow Chemical CEO meets investors to discuss strategy - CNBC

  05-11-2015 19:42
  Nov 5 (Reuters) - Dow Chemical Co Chief Executive Andrew Liveris has been meeting portfolio managers, CNBC reported on Thursday, citing sources.
  
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• Valeant shares tumble to 2-1/2 year lows

  05-11-2015 19:40 via news.yahoo.com
  
  By Caroline Humer and Svea Herbst-Bayliss NEW YORK/BOSTON (Reuters) - Valeant Pharmaceuticals International Inc shares fell as much as 20 percent on Thursday to a level not seen since 2013, heaping new pressure on Chief Executive Officer Michael Pearson after weeks of steep losses due to concerns about the drugmaker’s business practices. One new trigger for selling, said BMO analyst Alex Arfaei, may be a Wall Street Journal article on Thursday in which major Valeant investor Bill Ackman, w
  
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• Valeant shares tumble to two-and-a-half year lows

  05-11-2015 19:36 via news.yahoo.com
  
  By Caroline Humer and Svea Herbst-Bayliss NEW YORK/BOSTON (Reuters) - Valeant Pharmaceuticals International Inc shares fell as much as 20 percent on Thursday to a level not seen since 2013, heaping new pressure on Chief Executive Officer Michael Pearson after weeks of steep losses due to concerns about the drugmaker’s business practices. One new trigger for selling, said BMO analyst Alex Arfaei, may be a Wall Street Journal article on Thursday in which major Valeant investor Bill Ackman, w
  
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• FireEye stock plunges as results, outlook disappoint

  05-11-2015 19:36 via news.yahoo.com
  
  FireEye Inc shares lost about a quarter of their value Thursday as the former Wall Street darling missed quarterly forecasts and cut its outlook, saying reduced Chinese hacking had hurt U.S. demand and sales fell short in Europe. Wall Street analysts and industry watchers said that they were skeptical of FireEye's assertion that a U.S.-China agreement to clamp down on hacking had hurt sales at a time when corporations are placing unprecedented attention on efforts to beef up security. "This is a
  
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• Feast after famine linked to diabetes boom in China

  05-11-2015 19:36 via news.yahoo.com
  
  By Lisa Rapaport (Reuters Health) - Rising diabetes rates among middle-aged and elderly adults in China may be tied to their exposure to famine early in life followed by a rapid surge in economic development, a recent study suggests. China experienced a famine between 1959 and 1962. Researchers analyzed data on about 6,900 adults, including roughly 3,800 who experienced famine followed by a different economic status in adulthood.
  
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• Downbeat Bank of England forecast hits London stocks

  05-11-2015 19:26 via news.yahoo.com
  
  The Bank of England trimmed its growth outlook on Thursday due to slowing emerging markets, leaving London stocks in the red while eurozone stocks gained ground. While the BoE sees the British economy slowing to 2.5 percent growth in 2016 from 2.7 percent this year and a bout of negative inflation, it made no indications about increasing monetary stimulus and left its key interest rate at a record-low 0.50 percent. "When looking at UK economic data alongside US economic data there does appear to
  
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• UPDATE 3-Bank of England shies away from early 2016 rate rise

  05-11-2015 19:24
  * BoE does not want to return inflation to target too quickly (Adds more economist reaction, Carney comment on medium-term inflation)
  
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• Wall Street off lows; health stocks, weak reports drag

  05-11-2015 19:22 via news.yahoo.com
  
  U.S. stocks moved off session lows on Thursday afternoon, but were still weighed down by a raft of weak earnings reports, while the healthcare sector fell after the U.S. launched a probe into drug prices. Facebook rose as much as 6.5 percent to $110.65 and gave the biggest boost to the S&P and Nasdaq. Half of the 10 major S&P sectors were lower, with the healthcare sector down 0.34 percent.
  
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• Spain could clean up its act quickly, says rising party Ciudadanos

  05-11-2015 19:19 via news.yahoo.com
  
  By Blanca Rodríguez MADRID (Reuters) - Spain's prospects could be turned around with a "big bang" at the start of a new parliament, zeroing in on ending corruption, overhauling education and creating jobs, the Ciudadanos party said as it campaigned ahead of December's vote. Polls show Ciudadanos (Citizens) is set to become kingmaker in Spain's fragmented parliament. It is the quickest-growing party after a long economic crisis has left Spaniards with a distrust of politicians.
  
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• Dow CEO meeting portfolio managers to discuss long-term strategy- CNBC

  05-11-2015 19:09
  Nov 5 (Reuters) - Dow Chemical Co Chief Executive Andrew Liveris has been meeting influential portfolio managers in recent weeks to discuss the company's long-term strategy, CNBC reported.
  
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• Brazil's Levy says credible budget key to regain confidence

  05-11-2015 18:55
  SAO PAULO, Nov 5 (Reuters) - Brazil needs a credible national budget to be able to regain market confidence and bolster consumer demand, Finance Minister Joaquim Levy said on Thursday.
  
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• Saputo second-quarter earnings dip on lower dairy prices

  05-11-2015 18:51 via news.yahoo.com
  
  (Reuters) - Saputo Inc , one of Canada's largest dairy producers, said on Thursday its second-quarter earnings were down from the same period a year earlier on lower prices for cheese and butter. Analysts were expecting Saputo to earn 37 Canadian cents per share on revenue of C$2.74 billion, according to Thomson Reuters I/B/E/S. Saputo's shares eased 0.2 percent to C$31.64 in Toronto. The Montreal-based company, whose brands include Dairyland milk and Armstrong cheese, is among the top three che
  
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• UK shares fall, weighed down by resources stocks

  05-11-2015 18:41 via news.yahoo.com
  
  By Kit Rees LONDON (Reuters) - Britain's stock market retreated on Thursday as energy shares fell on dollar strength despite an earlier market rally after dovish remarks by Bank of England Governor Mark Carney. The Bank of England forecast little pick-up in inflation as it held interest rates steady, prompting investors to push back expectations for a rate hike. Seven of the eight BoE policymakers voted to keep interest rates unchanged at a record low of 0.5 percent, where they have been since 2
  
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• Oil cuts loss on Wall Street rebound; oversupply still weighs

  05-11-2015 18:41 via news.yahoo.com
  
  U.S. crude oil futures fell about half percent on Thursday while Brent steadied, tracking an oversupplied market and weak gasoline prices before rebounding on the improved sentiment on Wall Street. Crude prices fell nearly 4 percent on Wednesday after the U.S. government reported a 2.85 million-barrel crude inventory spike as higher domestic production made up for lower imports last week. In Thursday's session, U.S. crude's West Texas Intermediate (WTI) futures were down 30 cents at $46.02 a bar
  
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• REFILE-UPDATE 1-Former Rabobank traders convicted in U.S. trial over Libor rigging

  05-11-2015 18:38
  (Eliminates repetitive word "counts" in second graph) By Nate Raymond and Brendan Pierson NEW YORK, Nov 5 (Reuters) - Two former Rabobank traders were found guilty of fraud on Thursday in the first...
  
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