Finance news

• Corporate America's problem: Falling profit, revenue

  19-11-2015 23:55 via news.yahoo.com
  
  NEW YORK (AP) — Corporate America has a profit problem. U.S company earnings are falling for the first time since 2009, when the economy was still reeling from the Great Recession.
  
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• U.S., Electrolux spar over whether GE appliance deal would push up prices

  19-11-2015 23:44
  
  WASHINGTON (Reuters) - AB Electrolux’sCEO argued on Thursday that his company should be allowed to buy General Electric'sappliance business despite documents describing a consolidated U.S....
  
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• Wall St. edges down; healthcare sinks and Intel climbs

  19-11-2015 22:37 via news.yahoo.com
  
  (Reuters) - Wall Street ended a little lower on Thursday as falling healthcare stocks offset gains in Intel and other technology names while investors eyed an expected rate hike in December.
  
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• Wall Street edges down; healthcare sinks and Intel climbs

  19-11-2015 22:36 via news.yahoo.com
  
  Wall Street ended a little lower on Thursday as falling healthcare stocks offset gains in Intel and other technology names while investors eyed an expected rate hike in December. The Nasdaq Composite edged 0.03 percent lower to 5,073.64.
  
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• Square's stock soars 45 percent in first day of trading

  19-11-2015 22:29 via news.yahoo.com
  
  SAN FRANCISCO (AP) — Square bounced back in its stock market debut Thursday after the once-hot mobile payments service slashed the price of its initial public offering to get the deal done.
  
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• Investors 'swipe right' in Tinder-owner Match's debut

  19-11-2015 22:23
  
  (Reuters) - Shares of media mogul Barry Diller's Match Group Inc ,the owner of popular dating site Match.com and mobile app Tinder, jumped as much as 24 percent in their market debut on Thursday,...
  
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• White House candidate Sanders defends 'democratic socialism' label

  19-11-2015 21:51 via news.yahoo.com
  
  By John Whitesides WASHINGTON (Reuters) - Democratic U.S. presidential candidate Bernie Sanders said on Thursday his philosophy of democratic socialism was aimed at creating a more fair economy that was not tilted to benefit the rich, portraying it as a logical heir to popular government programs such as Social Security and Medicare. In a long-promised speech meant to ease the concerns of some voters about the "socialist" label, Sanders cited former President Franklin Roosevelt's Depression-era
  
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• Wall St. wavers as healthcare sinks and Intel climbs

  19-11-2015 20:55 via news.yahoo.com
  
  (Reuters) - Wall Street wobbled on Thursday as healthcare stocks ended a three-day rally after UnitedHealth cut its profit forecast, offsetting gains in Intel and other technology stocks.
  
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• Wall Street wavers as healthcare sinks and Intel climbs

  19-11-2015 20:40 via news.yahoo.com
  
  Wall Street wobbled on Thursday as healthcare stocks ended a three-day rally after UnitedHealth cut its profit forecast, offsetting gains in Intel and other technology stocks. UnitedHealth fell 5.2 percent, making the health insurer the biggest drag on the Dow. Pfizer dropped 3.4 percent after reports that the company's talks to buy Allergan and redomicile in Ireland were in final stages.
  
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• Wall Street Has Given Hillary Clinton $29 Million. What Does She Owe Them?

  19-11-2015 20:37 via news.yahoo.com
  
  Democratic presidential frontrunner Hillary Clinton has been bobbing and weaving for months fending off complaints from liberals in her party that she and her husband, former President Bill Clinton, have been too cozy with Wall Street. One of the more heated exchanges between Clinton and Vermont Sen. Bernie Sanders in last Saturday night’s Democratic debate in Iowa was over those long-standing ties and the huge amounts of campaign contributions that Clinton and her husband Bill have raked
  
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• Starboard asks Yahoo to sell core business instead of Alibaba stake

  19-11-2015 19:49
  
  (Reuters) - Activist investor Starboard Value LP asked Yahoo Incto drop plans to spin off its stake in Alibaba Group Holdings Ltddue to tax concerns, and instead urged the company to sell its...
  
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• Oil platform operator to pay more than $41 mln in penalties-U.S. Justice dept

  19-11-2015 19:31
  WASHINGTON, Nov 19 (Reuters) - The offshore oil platform
  operator ATP Oil & Gas Corp. has agreed to pay more than $41
  million in penalties to settle claims it made unauthorized
  discharges of oil and...
  
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• Nokia remains bullish about Africa business despite economic slowdown

  19-11-2015 19:18 via news.yahoo.com
  
  Nokia, which sold its once-dominant mobile handset business to Microsoft in 2014, deals in Africa mostly with telecommunications operators and governments, both of which have been hit by weaker currencies and slower economic growth. "Worldwide growth is flattish, but Africa is a pocket of growth for us," he told Reuters in an interview on the sidelines of the AfricaCom conference. The region Geyser manages, which stretches from South Africa to Tanzania, is heavily dependent on commodities export
  
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• S&P 'prejudiced' against Italy, says Treasury witness at trial

  19-11-2015 19:16 via news.yahoo.com
  
  By Vincenzo Damiani TRANI, Italy (Reuters) - Standard & Poor's was driven by prejudice against Italy when it issued critical reports and downgraded its sovereign ratings during the euro zone debt crisis in 2011 and 2012, a top Treasury official said in court on Thursday. Five S&P officials are on trial in the small southern Italian city of Trani for alleged market manipulation after sensitive reports were released during trading hours, causing heavy losses on stock and bond markets. The
  
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• Match Group Inc. Joins Square Inc. in First Day of Trading

  19-11-2015 19:14 via news.yahoo.com
  
  Match Group Inc., the company that owns Match.com, Tinder, and OkCupid, made its Wall Street debut during trading hours Thursday, joining Square Inc. as the second big-name IPO of the day. Shares of Match Group opened the trading day at $12.63, slightly above its IPO price of $12. Match Group looks to avoid joining the group of recent IPOs that have struggled to sustain stock prices above their IPO prices. Ihe following visualizations to compare the current day performance of Match Group and Squ
  
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• Wall Street feeling the chemistry with Match _ shares fly

  19-11-2015 19:08 via news.yahoo.com
  
  The owner of Tinder, Match.com and OKCupid is having a great first date with Wall Street. Shares of Match Group Inc. got a boost on their first day of trading, rising $2.17, or 18 percent, to $14.17 Thursday ...
  
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• Judge rebuffs NextEra's late interest in Energy Future unit

  19-11-2015 18:32
  WILMINGTON, Del., Nov 19 (Reuters) - A U.S. bankruptcy judge
  on Thursday rebuffed an attempt by NextEra Energy Inc to involve
  itself once more in Energy Future Holdings Corp's Chapter 11
  sale of its...
  
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• European stocks ride Fed rate rally coattails

  19-11-2015 18:28 via news.yahoo.com
  
  European stock markets rebounded Thursday, hopping onto the coattails of a global rally after the Federal Reserve suggested a likely US interest rate increase in December on growing economic confidence. Meanwhile, the euro shot up above $1.07 as the minutes from the latest ECB meeting didn't indicate any radical increase in stimulus that would weaken the currency. Heightened security fears in the wake of the Paris terror attacks and caution ahead of an update from the Federal Reserve had pushed
  
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• Fairly upbeat U.S. data highlight economy's resilience

  19-11-2015 18:22 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - New U.S. applications for unemployment benefits fell last week while a gauge of U.S. economic activity rebounded in October, signs of a healthy labor market and economy that could give the Federal Reserve confidence to raise interest rates next month. Outside manufacturing, the economy has remained resilient despite faltering global growth. "Business rolls on unperturbed by the China slowdown, sclerotic European growth or the commodity bust weighing on ma
  
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• Europe stocks rally, dollar drops ahead of December rate hike

  19-11-2015 18:08 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - Key stock markets in Europe and Asia rallied on Thursday as expectations built that the U.S. Federal Reserve will hike interest rates next month, while the U.S. dollar retreated after four sessions of gains. U.S. data showed fewer Americans filed for unemployment benefits last week, further supporting a view that the Federal Reserve will raise interest rates in December. "This morning's data simply confirmed that the economic landscape is healthy enough fo
  
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• Rising dollar tops Goldman Sachs' 2016 trade tips

  19-11-2015 17:59
  
  LONDON (Reuters) - U.S. investment bank Goldman Sachs tipped a higher dollar as its top trade for 2016 on Thursday, heading a list that also bet on rising U.S. inflation and long-dated Italian bonds...
  
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• BDCs step closer to new legislation, more leverage

  19-11-2015 17:53
  NEW YORK (Reuters) - Business Development Companies (BDCs) are one step closer to being able to lend more to small businesses, after the US House Financial Services Committee passed a bill...
  
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• South Africa raises benchmark interest rate to 6.25%

  19-11-2015 17:34 via news.yahoo.com
  
  South Africa raised its benchmark interest rate by a quarter of a percentage point on Thursday in a move to counter inflation pressure caused by a volatile rand. Lesetja Kganyago, governor of the South African Reserve Bank, said that despite the country's weak economic growth, the Monetary Policy Committee (MPC) was concerned that a failure to act would risk stoking inflation. "Against this difficult backdrop the MPC decided to increase the repurchase rate by 25 basis points to 6.25 percent," he
  
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• Average US rate on 30-year mortgage slips to 3.97 percent

  19-11-2015 17:01 via news.yahoo.com
  WASHINGTON (AP) — Average long-term U.S. mortgage rates edged slightly lower this week after two straight weeks of sharp increases. Expectations persist that the Federal Reserve may soon raise its key short-term interest rate.
  
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• UPDATE 1-Puerto Rico, creditors to meet on Friday

  19-11-2015 17:00
  SAN JUAN, Nov 19 (Reuters) - Puerto Rico's Government
  Development Bank said it will meet with lawyers and financial
  advisers to its creditors on Friday to discuss ongoing debt
  restructuring talks for...
  
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• Puerto Rico, creditors to meet on Friday

  19-11-2015 16:11
  SAN JUAN, Nov 19 (Reuters) - Puerto Rico's Government
  Development Bank said it will meet with lawyers and financial
  advisers to its creditors on Friday to discuss ongoing debt
  restructuring talks for...
  
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• Wall Street little changed; UnitedHealth weighs

  19-11-2015 16:07 via news.yahoo.com
  
  Wall Street wobbled in early trading on Thursday as healthcare stocks snapped a three-day rally after UnitedHealth cut its profit forecast for the year. Dow component UnitedHealth fell 5.6 percent to$110.73. The health insurer was the biggest drag on the Dow and S&P 500.
  
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• Exclusive: EU's Juncker dangles trade ties with Russia-led bloc to Putin

  19-11-2015 15:45 via news.yahoo.com
  
  European Commission chief Jean-Claude Juncker wrote to Russian President Vladimir Putin this week, suggesting closer trade ties between the 28-nation EU and a Russian-led economic bloc, linking them to progress on implementing a ceasefire in Ukraine. The letter, written after a G20 summit in Turkey and seen by Reuters, underlined the importance Juncker attached to good relations between the European Union and Moscow, "which to my regret have not been able to develop over the past year".
  
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• Wall Street opens higher after Fed minutes, jobs data

  19-11-2015 15:36 via news.yahoo.com
  
  REUTERS - U.S. stocks opened slightly higher on Thursday after minutes from the Federal Reserve's October meeting hardened expectations of a December interest rate hike and data showed jobless claims fell. The Dow Jones industrial average rose 3.58 points, or 0.02 percent, to 17,740.74. The S&P 500 gained 0.57 points, or 0.03 percent, to 2,084.15 and the Nasdaq Composite index added 3.87 points, or 0.08 percent, to 5,079.07. (Reporting by Darshana Sankararaman in Bengaluru; Editing by Savio
  
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• Madagascar to pass mining, petroleum code in next months - president

  19-11-2015 15:35 via news.yahoo.com
  
  Madagascar expects to pass its new mining and petroleum code by early next year at the latest and sees economic growth of 5 percent in 2016, its president said on Thursday. One of Africa's poorest countries, Madagascar hopes to accelerate economic growth by developing natural resources but it has struggled to attract foreign investors due to political instability and falling commodity prices. Speaking at an investment conference in London, President Hery Rajaonarimampianina said the government w
  
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• Pfizer, Allergan in final stage of merger talks: CNBC

  19-11-2015 15:34
  
  (Reuters) - Pfizer Incand Allergan Plcare in final stages of talks over an all-stock deal, CNBC tweeted, citing sources.
  
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• China's Premier Li says economy moving in reasonable range

  19-11-2015 15:17 via news.yahoo.com
  
  China's economy is moving in a reasonable range and will be kept running smoothly, Premier Li Keqiang said on Wednesday, according to the country's official government website. China will actively promote structural reforms and restructuring and strive to realize the economy's sustained, healthy long-term development, Li said. To counter that slowdown, China's government has unleashed a number of measures aimed at turning the market from one dominated by manufacturing and investment to one drive
  
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• R3 blockchain group adds 5 banks, brings in technology heavyweights

  19-11-2015 15:15
  LONDON (Reuters) - Five more banks have joined a global consortium working on ways blockchain technology can be used in financial markets, the firm leading the project said on Thursday, as it brought...
  
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• Pensions take another hit

  19-11-2015 15:12
  
  CHICAGO (Reuters) - Congress pounded one more nail in the coffin of traditional pensions earlier this month - and it did not have to happen.
  
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• China won't improve emissions control pledges

  19-11-2015 15:11 via news.yahoo.com
  
  China will not improve on its pledges to control emissions, the country's top climate negotiator said on Thursday ahead of key UN climate change talks in Paris. The world's largest polluter also chastised developed countries, with Xie Zhenhua -- a vice minister at China's top economic planner, the National Development and Reform Commission -- saying they have not done enough to combat rising temperatures. According to the UN framework convention on climate change and the Kyoto Protocol, develope
  
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• Number of Canadians on jobless benefits jumps in September

  19-11-2015 14:59 via news.yahoo.com
  
  The number of Canadians receiving employment insurance benefits rose in September, with most of the increase coming from the oil-rich province of Alberta, data from Statistics Canada showed on Thursday. There were 6,080 more people receiving jobless benefits, a 1.1 percent increase from August. Alberta, whose economy has been hard hit by the plunge in oil prices, saw a 9.1 percent increase in jobless benefits in September, led by an increase in those who had last worked in the trade, transport a
  
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• UPDATE 1-Miner Atna Resources files for chapter 11 bankruptcy

  19-11-2015 14:39
  Nov 19 (Reuters) - Miner Atna Resources Ltd on
  Thursday filed for Chapter 11 bankruptcy protection, hurt by a
  fall in gold prices, and said it planned to restructure its
  business by selling assets.
  
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• Applications for US jobless aid fall to low level of 271,000

  19-11-2015 14:33 via news.yahoo.com
  
  WASHINGTON (AP) — Fewer Americans sought unemployment aid last week, fresh evidence that companies are confident enough in the economy to hold onto their workers.
  
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• ECB officials debated stimulus move at last meeting

  19-11-2015 14:14 via news.yahoo.com
  
  FRANKFURT, Germany (AP) — Top officials at the European Central Bank debated expanding monetary stimulus for the eurozone economy at their last meeting - before deciding to hold off any changes until December.
  
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• ECB's Visco says Paris attacks threaten fragile euro zone recovery

  19-11-2015 14:06 via news.yahoo.com
  
  Last week's attacks in Paris threaten to hurt an economic recovery in Europe which is already fragile due to the slowdown in emerging economies, European Central Bank Governing Council member Ignazio Visco said on Thursday. Speaking at a conference in the French capital on long-term investment financing, Visco, who is governor of the Bank of Italy, said the attacks "certainly add their negative weight on confidence and raise the level of uncertainty". On Friday at least 129 people were killed in
  
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• Miner Atna Resources files for chapter 11 bankruptcy

  19-11-2015 13:44
  Nov 19 (Reuters) - Miner Atna Resources Ltd on
  Thursday filed for chapter 11 bankruptcy protection, hurt by a
  fall in gold prices, and said it planned to restructure its
  business by selling assets.
  
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• Credit Suisse investors back cash calls for restructuring

  19-11-2015 13:39
  
  BERN, Switzerland (Reuters) - Credit Suisse shareholders on Thursday overwhelmingly backed capital increases totaling around 6 billion Swiss francs ($5.9 bln) to bulk up the Swiss bank's balance...
  
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• Hip to be Square? Not for this IPO

  19-11-2015 13:26 via news.yahoo.com
  
  By Heather Somerville and Lauren Hirsch SAN FRANCISCO (Reuters) - Square Inc priced shares at $9 for its initial public offering, about 25 percent less than it had hoped, as it struggled to win over investors skeptical about its business and valuation before trading begins on Thursday. The mobile payments company said it along with a selling stockholder would offer 27 million shares, raising $243 million in its Wall Street debut, about $80 million less than expected. The steeper discount to $9 -
  
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• Despite tensions, Asia-Pacific nations close ranks against terrorism

  19-11-2015 12:51 via news.yahoo.com
  
  By Matt Spetalnick and Rosemarie Francisco MANILA (Reuters) - Pacific-rim nations closed ranks against terrorism on Thursday at the end of a summit that was darkened by last week's attacks in Paris, but still Washington and Moscow sparred over how to deal with Syria and the Islamic State fighters sheltering there. The Asia-Pacific Economic Cooperation (APEC) group's 21 leaders vowed to prevent terrorism from undermining values that underpin their economies, and said there was a need for greater
  
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• China cuts rates on loans to small businesses

  19-11-2015 11:35 via news.yahoo.com
  
  BEIJING (AP) — China's central bank has cut interest rates charged by lenders that finance small businesses in a new move to shore up lackluster economic growth.
  
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• Will Earnings Keep Falling At Royal Dutch Shell Plc & Johnson Matthey PLC Beyond 2015?

  19-11-2015 11:28 via news.yahoo.com
  
  Royston Wild looks at the bottom-line potential of Royal Dutch Shell Plc (LON: RDSB) and Johnson Matthey PLC (LON: JMAT).
  
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• Russia did not ask for sanctions relief with new Ukraine debt deal: PM

  19-11-2015 11:20 via news.yahoo.com
  
  MANILA (Reuters) - Russia did not ask the West to lift sanctions against Moscow when it offered Ukraine a new debt restructuring deal, Prime Minister Dmitry Medvedev said on Thursday. "We did not ask for anything and we will not ask them, there is no point," Medvedev told journalists at a briefing on the sidelines of the Asian-Pacific Economic Cooperation (APEC) summit. "Sanctions have nothing to do with this debt. ...
  
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• Slovenia says to turn back economic migrants

  19-11-2015 11:16 via news.yahoo.com
  
  Slovenia said on Thursday it would begin turning back "economic migrants" arriving through neighboring Croatia, after the United Nations said other Balkan countries had begun limiting migrant passage to Syrians, Afghans and Iraqis only. A police spokesman said Slovenia would only accept migrants "from countries where there are armed battles". "Over the past days more and more people are arriving for whom we have reason to believe that they are economic migrants," spokesman Drago Menegalija said
  
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• BRIEF-KEA Petroleum says initiated procedures to voluntarily wind up co

  19-11-2015 11:09
  * Directors will call meetings of members and creditors to
  seek approval of appointment of Stephen Cork , Joanne Milner of
  Cork Gully LLP as joint liquidatorsSource text for Eikon:Further company...
  
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• Obama and others to raise South China Sea at ASEAN meetings: White House

  19-11-2015 10:58 via news.yahoo.com
  
  U.S. President Barack Obama and regional leaders plan to raise the South China Sea dispute at a summit meeting this weekend in Kuala Lumpur, Obama's main Asia policy adviser Daniel Kritenbrink said on Thursday. Kritenbrink was speaking to reporters at the Asia-Pacific Economic Cooperation summit in Manila, where hosts Philippines did not raise the dispute to avoid embarrassing China at a meeting that was primarily aimed at discussing economies and trade. Beijing has overlapping claims with Vietn
  
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