Finance news

• Voices of consumers: Jobs report shows inclination to spend

  06-11-2015 23:30 via news.yahoo.com
  
  Americans finally feel confident enough in the U.S. economy to splurge.
  
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• Berkshire profit doubles to record on Kraft Heinz

  06-11-2015 22:59 via news.yahoo.com
  
  By Jonathan Stempel and Jennifer Ablan NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc said quarterly profit doubled to a record high, reflecting a large gain on its stake in Kraft Heinz Co , while operating profit declined on weaker results from insurance underwriting. Operating profit fell 4 percent to $4.55 billion, or $2,769 per share, from $4.72 billion, or $2,876.     Analysts on average expected operating profit of $2,720.60 per share, according to Thomson Reut
  
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• Square IPO priced at 30 percent discount to last private funding

  06-11-2015 22:55
  
  SAN FRANCISCO (Reuters) - Mobile payments company Square Inc set a price range on Friday for its highly anticipated initial public offering that values the company at up to $4.2 billion, a 30 percent...
  
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• Strong payrolls lift retailer hopes further

  06-11-2015 22:52 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - Against the backdrop of a strengthening labor market, retailers are set to report earnings next week and could help the consumer sector regain the leadership lost to technology in the latest market rally. "The consumer should be feeling pretty good heading into the last couple of the months of the year," said Sean Lynch, co-head of global equity strategy at Wells Fargo Investment Institute in Omaha. "We think we could be set up for a little bit of a (stock
  
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• Wall Street flat as rate hike eyed; banks counter utilities drop

  06-11-2015 22:37 via news.yahoo.com
  
  U.S. stocks ended little changed on Friday, with a rise in financials countered by a slide in utilities and other sectors, as Wall Street took the strong U.S. jobs report as evidence the Federal Reserve will soon raise interest rates. Data on Friday showed U.S. non-farm payrolls growth in October was the best since December 2014, while the unemployment rate fell to 5 percent, the lowest since April 2008.
  
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• Wall St. flat as rate hike eyed; banks counter utilities drop

  06-11-2015 22:37 via news.yahoo.com
  
  (Reuters) - U.S. stocks ended little changed on Friday, with a rise in financials countered by a slide in utilities and other sectors, as Wall Street took the strong U.S. jobs report as evidence the Federal Reserve will soon raise interest rates.
  
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• US STOCKS-Wall St flat as rate hike eyed; banks counter utilities drop

  06-11-2015 22:36 via news.yahoo.com
  
  U.S. stocks ended little changed on Friday, with a rise in financials countered by a slide in utilities and other sectors, as Wall Street took the strong U.S. jobs report as evidence the Federal Reserve ...
  
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• Insight - U.S. bank merger recovery could get hurt by recent turkeys

  06-11-2015 21:55 via news.yahoo.com
  
  By Dan Freed and Dan Wilchins NEW YORK (Reuters) - The recent pickup in U.S. bank merger activity could slow down in the coming months after regional banks that announced deals last week were punished in the stock market, bankers said. When KeyCorp said on Friday that it agreed to buy First Niagara Financial Group, shares of both banks dropped fell, with KeyCorp dropping 7 percent and First Niagara slipping nearly 1 percent. When New York Community Bancorp agreed to buy Astoria Financial Inc, th
  
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• InterContinental Hotels denies exploring sale or merger

  06-11-2015 21:38
  
  (Reuters) - InterContinental Hotels Group Plc , one of the world's largest hoteliers, said it was not exploring a sale or merger, following a media report that the company was looking at its...
  
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• Better ways to refer clients to lawyers

  06-11-2015 21:08
  (Reuters) - When clients need legal help, financial advisers can do more than simply give them a list of good lawyers.
  
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• Exclusive: Verizon weighing $10 billion sale of enterprise assets - sources

  06-11-2015 21:07
  
  NEW YORK (Reuters) - Verizon Communications Inc is exploring a sale of its enterprise assets which could be worth as much as $10 billion, according to people familiar with the matter, as the largest...
  
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• Wall Street slips as investors eye rate hike after jobs report

  06-11-2015 21:04 via news.yahoo.com
  
  U.S. stocks slipped on Friday, with a slide in utilities and other sectors outweighing a rise in financials, as a strong jobs report gave Wall Street a clear sign the Federal Reserve could soon raise interest rates. U.S. non-farm payrolls growth in October was the best since December 2014, while the unemployment rate fell to 5 percent, the lowest since April 2008. Banks tend to benefit from higher borrowing rates, and shares of JPMorgan , Bank of America and Citigroup were each up about 3 percen
  
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• Wall St. slips as investors eye rate hike after jobs report

  06-11-2015 21:03 via news.yahoo.com
  
  (Reuters) - U.S. stocks slipped on Friday, with a slide in utilities and other sectors outweighing a rise in financials, as a strong jobs report gave Wall Street a clear sign the Federal Reserve could soon raise interest rates.
  
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• UPDATE 1-FDA panel backs Merck & Co drug to reverse muscle relaxant effect

  06-11-2015 20:32
  Nov 6 (Reuters) - Merck & Co's drug to reverse the effects of muscle relaxants used in surgery is safe and effective enough to warrant approval, an independent panel to the U.S. Food and Drug...
  
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• Wall St. banks zone in on December for Fed liftoff: Reuters poll

  06-11-2015 20:27 via news.yahoo.com
  
  Wall Street's top banks expect the Federal Reserve to raise interest rates in December, and most brokerages said their conviction around such a move had increased in the last month, according to a Reuters poll conducted on Friday. A double-whammy of the Fed specifically referencing a possible move in December at its last meeting, and Friday's blowout jobs data that showed notable wage growth and a drop in unemployment, has made a rate hike seem much more likely than just a couple of weeks ago. F
  
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• BRIEF-Canadian foreign minister Dion says supports Energy East

  06-11-2015 20:27
  * Canadian foreign minister Dion: If we want pipeline projects to go through, Canada needs to rebuild environmental assessment policies and community support
  
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• PRECIOUS-Gold at 3-mth low after U.S. data, eyes biggest weekly drop since 2013

  06-11-2015 20:24
  * Palladium bounces up 2 pct, bucks weak trend (Updates prices; adds comment, second byline, NEW YORK dateline)
  
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• BRIEF-Alberta premier says province needs to focus on other pipelines

  06-11-2015 20:23
  * Alberta Premier Rachel Notley says not surprised by Obama's decision to reject KXL pipeline
  
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• UPDATE 1-Colombia 2016 inflation may be above 2-4 pct target range -cenbank

  06-11-2015 20:21
  BOGOTA, Nov 6 (Reuters) - Colombia's inflation may be slightly above the 2 to 4 percent long-term target range in 2016, central bank Chief Jose Dario Uribe said on Friday, due to higher food prices...
  
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• Wall Street banks zone in on December for Fed liftoff: poll

  06-11-2015 20:16 via news.yahoo.com
  
  Wall Street's top banks expect the Federal Reserve to raise interest rates in December, and most brokerages said their conviction around such a move had increased in the last month, according to a Reuters poll conducted on Friday. A double-whammy of the Fed specifically referencing a possible move in December at its last meeting, and Friday's blowout jobs data that showed notable wage growth and a drop in unemployment, has made a rate hike seem much more likely than just a couple of weeks ago. F
  
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• U.S. regulators reject push for 'Do Not Track' Internet rules

  06-11-2015 20:15
  WASHINGTON, Nov 6 (Reuters) - U.S. regulators rejected an effort on Friday to force Google, Facebook and other popular web sites to honor "Do Not Track" requests from users, in a setback for digital...
  
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• UAW, Ford reach tentative contract deal, ratification vote next

  06-11-2015 20:13
  DETROIT, Nov 6 (Reuters) - Negotiators for Ford Motor Co and the United Auto workers on Friday reached a tentative agreement for a new four-year labor contract, the union and company said.
  
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• Sound of explosion heard on Russian plane's black box-French TV

  06-11-2015 20:12
  PARIS, Nov 6 (Reuters) - The sound of an explosion could be heard on the black boxes recovered from a Russian plane that crashed over Egypt's Sinai Peninsula on Saturday, according to an investigator...
  
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• Keystone would have led to 'some of the dirtiest oil on the planet' -W. House

  06-11-2015 20:11
  WASHINGTON, Nov 6 (Reuters) - Building the Keystone XL crude oil pipeline from Canada would have encouraged so-called dirty oil with harmful environmental impacts, the White House said on Friday,...
  
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• UPDATE 1-Canada PM disappointed on Keystone but sees fresh start with Obama

  06-11-2015 20:09
  OTTAWA, Nov 6 (Reuters) - Canadian Prime Minister Justin Trudeau said on Friday he was disappointed at the U.S. decision to block the proposed Keystone XL oil pipeline but didn't see it standing in...
  
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• FDA panel votes unanimously in favor of Merck & Co's Sugammadex

  06-11-2015 20:03
  Nov 6 (Reuters) - Merck & Co's drug to reverse the effects of muscle relaxants used in surgery is safe and effective enough to warrant approval, an independent panel to the U.S. Food and Drug...
  
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• Obama rejects Keystone XL pipeline in win for greens

  06-11-2015 20:02 via news.yahoo.com
  
  By Timothy Gardner and Jeff Mason WASHINGTON (Reuters) - U.S. President Barack Obama on Friday rejected the proposed Keystone XL oil pipeline from Canada in a victory for environmentalists who campaigned against the project for more than seven years. "The pipeline would not make a meaningful long-term contribution to our economy," Obama told a press conference. The denial of TransCanada Corp's more than 800,000 barrels per day project will make it more difficult for producers to develop the prov
  
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• UPDATE 1-Videogame maker Activision launches film studio

  06-11-2015 19:59
  Nov 6 (Reuters) - Activision Blizzard Inc has launched a film and TV studio to create original content based on its popular videogame franchises such as "Call of Duty" and "Hearthstone" in its latest...
  
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• CORRECTED-YouTube to support virtual reality video on its app

  06-11-2015 19:57
  SAN FRANCISCO, Nov 5 (Reuters) - YouTube announced two new features Thursday for its Android app that expand the video site's use of virtual reality, giving the new technology its biggest platform...
  
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• EU wants more reporting by firms of U.S. requests for data

  06-11-2015 19:50
  BRUSSELS, Nov 6 (Reuters) - The European Commission is pushing for companies to report aggregate figures on the number of U.S. government requests for personal data as part of a new transatlantic...
  
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• UPDATE 5-Obama rejects Keystone XL pipeline in win for greens

  06-11-2015 19:48
  WASHINGTON, Nov 6 (Reuters) - U.S. President Barack Obama on Friday rejected the proposed Keystone XL oil pipeline from Canada in a victory for environmentalists who campaigned against the project...
  
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• Peru cenbank sells $90 mln, sol slips 0.30 pct to end at 9-yr low

  06-11-2015 19:40
  LIMA, Nov 6 (Reuters) - Peru's central bank sold $90 million in the local spot market on Friday but the sol currency slipped 0.30 percent to finish trading at 3.312/3.314 per dollar, its lowest in...
  
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• GLOBAL MARKETS-Dollar hits 7-month high on jobs data; oil slumps

  06-11-2015 19:35
  * U.S. payrolls beat expectations, lift odds for Fed rate hike
  
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• RPT-After HomeAway, fewer options to bet directly on sharing economy

  06-11-2015 19:34
  (Adds byline) By Noel Randewich SAN FRANCISCO, Nov 6 (Reuters) - It is about to get even harder for stock market investors to make direct bets on the small but fast-growing sharing economy that has...
  
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• Portugal left agrees on government deal, PM says could be ousted

  06-11-2015 19:34 via news.yahoo.com
  
  By Andrei Khalip LISBON (Reuters) - Two small far left parties have concluded talks with the moderate Socialists to create an alternative government and oust the centre-right, whose prime minister acknowledged on Friday he could be forced into opposition. The prospect of a leftist government could have an effect on Portugal's timid economic recovery because of potential instability and the fact that the would-be partners reject some reforms imposed to escape a debt crisis. The Communists and Lef
  
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• After HomeAway, fewer options to bet directly on sharing economy

  06-11-2015 19:34 via news.yahoo.com
  
  It is about to get even harder for stock market investors to make direct bets on the small but fast-growing sharing economy that has gained attention from the runaway success of Uber and Airbnb. Expedia's ...
  
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• TRLPC: Banks’ technology exposure mounting amid heavy U.S. M&A

  06-11-2015 19:30
  
  NEW YORK (Reuters) - U.S. investors’ exposure limits for the technology sector are being tested after three loans totaling U.S.$13.8bn hit the market in recent weeks, with another massive deal...
  
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• Obama rejects disputed Keystone XL Canada-US pipeline

  06-11-2015 19:30 via news.yahoo.com
  
  US President Barack Obama on Friday blocked the construction of a controversial Keystone XL oil pipeline between Canada and the United States, ending years of bitter and politically charged debate. Obama said the plan "would not serve the national interests of the United States," listing the reasons -- it would not help the environment, make a "meaningful long-term contribution" to the economy or significantly lower gas prices. Obama indicated that instead of bringing tar sands crude 1,179 miles
  
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• UPDATE 2-Portugal left agrees on government deal, PM says could be ousted

  06-11-2015 19:28
  LISBON, Nov 6 (Reuters) - Two small far left parties have concluded talks with the moderate Socialists to create an alternative government and oust the centre-right, whose prime minister acknowledged...
  
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• UPDATE 1-U.S. oil drillers cut rigs for 10th week -Baker Hughes

  06-11-2015 19:28
  Nov 6 (Reuters) - U.S. energy firms cut oil rigs for a tenth week in a row this week, decreasing the pace of decline from recent weeks, data showed on Friday, a sign low prices continued to keep...
  
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• Lockheed, United Technologies close Sikorsky deal

  06-11-2015 19:09
  
  WASHINGTON (Reuters) - Lockheed Martin Corpsaid on Friday it has closed its $9 billion acquisition of Sikorsky Aircraft from United Technologies Corp .
  
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• Renault board agrees to further talks in French standoff

  06-11-2015 19:02 via news.yahoo.com
  
  By Laurence Frost and Gilles Guillaume PARIS (Reuters) - Renault's board failed on Friday to resolve an escalating power struggle with the French state over the carmaker's alliance with Nissan , agreeing to back further talks in a bid to end the standoff. Renault called the emergency board session amid an increasingly open conflict between Chief Executive Carlos Ghosn and Economy Minister Emmanuel Macron, triggered by the government's surprise move in April to raise its Renault stake and secure
  
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• Top fund firms stay conservative in support for activists: report

  06-11-2015 18:58
  NEW YORK/BOSTON (Reuters) - Three top U.S. asset managers shied away from supporting dissident directors in recent proxy contests, according to voting data, showing how corporate management teams can...
  
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• New Sanofi boss seen well-placed to lead $13 billion asset selloff

  06-11-2015 18:56
  
  PARIS (Reuters) - Sanoficould hope to get over 12 billion euros ($13 billion) should it decide to sell its Merial animal health unit and its European generics business, and the French drugmaker's...
  
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• TransCanada to consider options after Obama rejects oil pipeline

  06-11-2015 18:51 via news.yahoo.com
  
  By Nia Williams CALGARY, Alberta (Reuters) - TransCanada Corp said on Friday it will review all options, including seeking a new permit to ship crude oil from Canada to the United States, after the Obama administration rejected its proposed Keystone XL oil pipeline. “TransCanada and its shippers remain absolutely committed to building this important energy infrastructure project," TransCanada Chief Executive Russ Girling said in a statement. U.S. President Barack Obama said on Friday that
  
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• London close: Footsie undecided as chances of December Fed hike rise

  06-11-2015 18:43 via news.yahoo.com
  
  (ShareCast News) - Volatility on Wall Street in the aftermath of Friday´s jobs report rippled across the Atlantic, leading to sharp intraday swings in the top flight index - albeit within a tight range ...
  
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• TransCanada to consider options after Obama rejects Keystone XL pipeline

  06-11-2015 18:33 via news.yahoo.com
  
  CALGARY, Alberta (Reuters) - TransCanada Corp said on Friday it will review all options, including seeking a new permit to ship crude oil from Canada to the United States, after the Obama administration rejected its proposed Keystone XL oil pipeline. President Barack Obama said on Friday that he agreed with a recommendation by the U.S. State Department to reject the project on the basis that it would not make a meaningful long-term contribution to the U.S. economy. (Reporting by Nia Williams in
  
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• Republican U.S. presidential hopefuls bash Keystone rejection

  06-11-2015 18:33 via news.yahoo.com
  
  By Emily Stephenson WASHINGTON (Reuters) - Republican White House hopefuls on Friday slammed the Obama administration's rejection of the Keystone XL oil pipeline project, saying the decision would hurt the U.S. economy. "The Obama admin's politically motivated rejection of the Keystone XL pipeline is a self-inflicted attack on the U.S. economy and jobs," former Florida Governor Jeb Bush said on Twitter. President Barack Obama's rejection of the proposed oil pipeline from Canada was a victory for
  
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• Wells Fargo likely to issue more debt to comply with new rules

  06-11-2015 18:16
  
  NEW YORK (Reuters) - Wells Fargo & Co will likely need to issue an additional $20 billion to $40 billion of long-term debt to comply with new rules designed to help banks better weather a crisis,...
  
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• Obama rejects Canada-to-U.S Keystone XL pipeline

  06-11-2015 18:15 via news.yahoo.com
  
  By Jeff Mason and Timothy Gardner WASHINGTON (Reuters) - U.S. President Barack Obama on Friday rejected the proposed Keystone XL oil pipeline from Canada in a victory for environmentalists who have campaigned against the project for more than seven years. "The pipeline would not make a meaningful long-term contribution to our economy," Obama told a press conference. The denial of TransCanada Corp's more than 800,000 barrels per day project will make it more difficult for producers to develop the
  
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