Finance news

• HP's last earnings report shows decline

  24-11-2015 23:53 via news.yahoo.com
  
  SAN FRANCISCO (AP) — Hewlett-Packard went out with a whimper Tuesday, as the venerable computer-maker issued its final quarterly earnings report as a unified tech conglomerate, showing another drop in sales for most of its business divisions.
  
  Read more

• Bank of England's Broadbent struck by lack of UK credit growth

  24-11-2015 23:53 via news.yahoo.com
  
  Britain's economy is not going through a credit boom and the fall in manufacturing employment in the country is a result of global trends, Bank of England Deputy Governor Ben Broadbent was quoted as saying in a newspaper interview published on Tuesday. "What is extremely striking is the lack of credit growth. This is the most credit-free recovery we've ever had," Broadbent told the Daily Mail.
  
  Read more

• Bank of Canada's Patterson: Canada is rebounding

  24-11-2015 23:44 via news.yahoo.com
  
  Canada's economy is rebounding following a modest contraction in the first half of the year, boosted by non-energy exports and investment, which will help growth to 2-1/2 percent in 2017, Bank of Canada Deputy Governor Lynn Patterson said on Tuesday. Patterson said Canada was adjusting to the decline in oil and commodity prices with lower borrowing rates and a lower Canadian dollar, and reiterated the growth forecast given by the bank in October.
  
  Read more

• Drought holds back Thailand's retail store expansion

  24-11-2015 23:20 via news.yahoo.com
  
  By Khettiya Jittapong BANGKOK (Reuters) - Sales have fallen at all but one of Thailand's major supermarket retailers as the worst drought in a decade strikes at the heart of the farming sector - the backbone of the rural economy - and frustrates plans to open more stores in the provinces. Big C Supercenter, Thailand's second-biggest hyper mart chain after Tesco PLC, suffered a 5.2 percent slide in third-quarter same-store sales growth (SSSG) from a year earlier, the most among its peers. Tesco's
  
  Read more

• Advertisement

• India's ruling party confronts Gandhis as parliament gathers

  24-11-2015 23:13 via news.yahoo.com
  
  By Douglas Busvine and Rupam Jain Nair NEW DELHI (Reuters) - Indian Prime Minister Narendra Modi has just suffered a bruising election setback, yet his party appears in no mood to compromise with the main political opposition to get stalled economic reforms back on track. Instead, the nationalist Bharatiya Janata Party (BJP) has launched an all-out offensive against the Congress party, in a potentially dangerous game of brinkmanship that risks turning the next parliamentary session into a prolon
  
  Read more

• CalPERS shared $3.4 billion in private equity profits over 25 years

  24-11-2015 23:13
  
  SAN FRANCISCO (Reuters) - The nation’s largest public pension, the California Public Employees' Retirement System, said on Tuesday that it had paid $3.4 billion to private equity firms in...
  
  Read more

• Canada's Ontario sets 2050 goal for cut in greenhouse gases

  24-11-2015 22:55 via news.yahoo.com
  
  (Reuters) - Canada's most populous province, Ontario, said on Tuesday it would aim to cut greenhouse gas emissions by 80 percent from 1990 levels by 2050, although it offered only hints of how it hopes to slow climate change. Ontario, whose economy depends in part on manufacturing, will outline a five-year plan next year with specific commitments for cutting emissions by 15 percent by 2020 and lay out steps toward reaching later targets, Environment Minister Glen Murray said. "Climate change is
  
  Read more

• Wall Street ends higher, driven by energy amid global tension

  24-11-2015 22:41 via news.yahoo.com
  
  U.S. shares closed higher on Tuesday as energy stocks rose along with oil prices after Turkey shot down a Russian warplane near the Syrian border. "You came in this morning and everybody was talking about this potential escalation of violence between Turkey and Russia," said Andrew Frankel, co-president of Stuart Frankel & Co in New York. The Dow Jones industrial average rose 19.51 points, or 0.11 percent, to 17,812.19, the S&P 500 gained 2.55 points, or 0.12 percent, to 2,089.14 and the
  
  Read more

• Advertisement

• Wall Street ends higher on energy lift

  24-11-2015 22:11 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. shares closed higher on Tuesday as the S&P energy sector rose along with crude oil prices and investors focused on global politics after Turkey shot down a Russian warplane near the Syrian border. The Dow Jones industrial average rose 21.18 points, or 0.12 percent, to 17,813.86, the S&P 500 gained 2.67 points, or 0.13 percent, to 2,089.26 and the Nasdaq Composite added 0.33 points, or 0.01 percent, to 5,102.81. (Reporting by Chuck Mikolajczak; Editing by Nick Zi
  
  Read more

• Bridgewater's Pure Alpha II Fund up 9.5 percent YTD: sources

  24-11-2015 22:09
  NEW YORK (Reuters) - Bridgewater Associates’ Pure Alpha II Fund, managed by Ray Dalio, Robert Prince and Greg Jensen, is up 1.97 percent so far in November for a year-to-date total return of 9.5...
  
  Read more

• U.S. probing Comcast's role in 'spot' cable ad sales market

  24-11-2015 21:27 via news.yahoo.com
  
  (Reuters) - The U.S. Department of Justice is investigating whether Comcast Corp, the biggest U.S. cable TV provider, is hindering competition in cable advertising sales, a source told Reuters. The department's Antitrust Division has sent documents known as civil investigative demands to video distribution companies with questions about whether Comcast was seeking to dominate the "spot" cable ad sales business in areas where Comcast offers service, said the source, who asked not to be identified
  
  Read more

• CalPERS to open curtain to amount private equity takes in profits

  24-11-2015 21:06
  
  SAN FRANCISCO (Reuters) - The nation’s largest public pension, the California Public Employees' Retirement System, expects to reveal this week how much private equity firms take as a profit from its...
  
  Read more

• U.S. Federal Reserve awards $95.92 billion reverse repos

  24-11-2015 20:35 via news.yahoo.com
  
  The Federal Reserve on Tuesday awarded $95.92 billion of overnight fixed-rate reverse repurchase agreements to 43 bidders at an interest rate of 0.05 percent, the New York Fed said on its website. This was the smallest amount in a week when it awarded $86.16 billion to 39 bidders at the same interest rate. On Monday, the Fed had allotted $144.6 billion in one-day reverse repos to 50 bidders, including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an intere
  
  Read more

• British Columbia trims 2015-16 budget surplus forecast

  24-11-2015 20:32 via news.yahoo.com
  
  British Columbia on Tuesday again revised its budget surplus for fiscal 2015-16, to C$265 million ($199.26 million), trimming C$12 million from a forecast it made in September. Since its first-quarter forecast, provincial revenues have improved by C$4 million, primarily due to higher income tax revenues, Finance Minister Michael de Jong said. The Western Canadian province's real gross domestic product (GDP) is forecast to grow by 2 percent in 2015 and 2.4 percent in 2016, unchanged from its prev
  
  Read more

• Smartphones may have role in rise of U.S. traffic deaths

  24-11-2015 20:15 via news.yahoo.com
  
  By David Morgan WASHINGTON (Reuters) - The number of deaths from traffic accidents in the United States jumped 8.1 percent in the first half of 2015, suggesting smartphones and other driving distractions could be making America's roadways more dangerous, officials said on Tuesday. Preliminary government statistics, released during a Thanksgiving holiday week known for heavy traffic congestion, showed deaths rising to 16,225 in the January-June period at a rate more than double an increase in ove
  
  Read more

• U.S. probing Comcast's role in 'spot' cable ad sales market - WSJ

  24-11-2015 19:56 via news.yahoo.com
  
  (Reuters) - The U.S. Department of Justice is investigating whether cable company Comcast Corp is hindering competition in cable advertising sales, the Wall Street Journal reported, citing a document reviewed by the newspaper. The document, which is known as a civil investigative demand, indicates that the Justice department's antitrust division is probing whether Comcast's cable ad sales, as well as its deals to represent rival pay TV providers' ad sales, are hindering competition. The investig
  
  Read more

• Kuwait awards record $30 bn on projects despite oil slide

  24-11-2015 19:49 via news.yahoo.com
  
  Kuwait has awarded projects worth a record $30 billion so far this year despite the sharp fall in oil income, officials and experts said Tuesday. "Up until mid-October, Kuwait has awarded record projects worth $30 billion (28 billion euros), up around $6 billion on the whole of last year," Edward James, director of analysis at Middle East Economic Digest (MEED) Projects told a conference on Kuwaiti projects.
  
  Read more

• Ex-Wall Street banker Simsek to lead Turkish economy in new cabinet

  24-11-2015 19:48 via news.yahoo.com
  
  By Orhan Coskun ANKARA (Reuters) - Turkish Prime Minister Ahmet Davutoglu named a respected former finance minister and banker to run the economy on Tuesday, offering some reassurance to investors concerned the new cabinet was stacked with allies of President Tayyip Erdogan. Some of the new appointments, including that of Erdogan's son-in-law as energy minister, will exacerbate fears the ruling AK Party will opt for populist policies over structural reform and fiscal discipline. Once a darling o
  
  Read more

• U.S. DoJ probing Comcast's role in 'spot' cable ad sales market: WSJ

  24-11-2015 19:19 via news.yahoo.com
  
  (Reuters) - The U.S. Department of Justice is investigating whether cable company Comcast Corp is hindering competition in cable advertising sales, the Wall Street Journal reported, citing a document reviewed by the newspaper. The document, which is known as a civil investigative demand, indicates that the Justice department's antitrust division is probing whether Comcast's cable ad sales, as well as its deals to represent rival pay TV providers' ad sales, are hindering competition. Representati
  
  Read more

• Iran seeks revival of caviar industry in post-sanctions era

  24-11-2015 18:43 via news.yahoo.com
  
  GOLDASHT, Iran (AP) — On the shores of the Caspian Sea, an ambitious project is underway to produce a pricey delicacy that could boost Iran's economy as sanctions ease: caviar.
  
  Read more

• China proposes investment firm to fund projects in Europe

  24-11-2015 18:29 via news.yahoo.com
  
  China is proposing a financial firm to fund projects in central and eastern Europe, Premier Li Keqiang said Tuesday, extending the Asian giant's global reach as it flexes its economic muscles. Beijing scored a major diplomatic success earlier this year when it set up the Asian Infrastructure Investment Bank, with key European countries signing up over objections from Washington. Shanghai is also home to a new multilateral bank dedicated to the emerging BRICS countries of Brazil, Russia, India, C
  
  Read more

• Venezuelan opposition wants prisoners free, economy revamped after vote

  24-11-2015 18:12 via news.yahoo.com
  
  By Andrew Cawthorne and Vivian Sequera CARACAS (Reuters) - Venezuela's opposition will prioritize laws to free jailed activists and reform the crisis-hit economy if it wins Dec. 6 elections to take control of the legislature away from the ruling socialists for the first time in 16 years. "If we take control of the National Assembly simply to say 'We are going to recall so-and-so,' then it would be perceived by the country as a tit-for-tat measure and that could split the electorate who are behin
  
  Read more

• U.S. GDP growth raised for third quarter

  24-11-2015 18:10 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - The U.S. economy grew at a healthier clip in the third quarter than initially thought, but strong inventory accumulation by businesses could temper expectations of an acceleration in growth in the final three months of the year.     The Commerce Department on Tuesday said the nation's gross domestic product grew at a 2.1 percent annual pace, not the 1.5 percent rate it reported last month, as businesses reduced an inventory bloat less aggre
  
  Read more

• Strong dollar pressures Tiffany in 3rd quarter

  24-11-2015 18:10 via news.yahoo.com
  
  NEW YORK (AP) — Tiffany's fiscal third-quarter results missed analysts' estimates, hampered by a strong dollar and uncertain economic conditions. The luxury jeweler also lowered its full-year earnings guidance.
  
  Read more

• Missing climate goals, Dutch mull closing coal plants

  24-11-2015 18:04 via news.yahoo.com
  
  By Toby Sterling AMSTERDAM (Reuters) - With the Netherlands on track to miss its climate goals for 2020, the Dutch government is coming under pressure to order the closure of the nation's coal plants. "It's high time the Netherlands finally sends a clear signal on sustainability," the scientists wrote in an open letter. The new coal plants were built during a period of economic stagnation as the government slashed subsidies for renewable energy and looked to cheap sources, including relatively e
  
  Read more

• South African rand recovers as economy rebounds, stocks fall

  24-11-2015 17:47 via news.yahoo.com
  
  The South African rand firmed against the dollar on Tuesday after data showed the economy returned to growth in the third quarter, paring losses after drifting near one-week lows. Stocks ended slightly lower, with ArcelorMittal South Africa in the spotlight after the steel maker priced its equity cash call at a big premium. By 1530 GMT the rand had gained 0.6 percent to 13.9975 per dollar, the greenback slipping as reports that Turkish fighter jets had shot down a Russian warplane near the Syria
  
  Read more

• Global stocks fall, bonds gain as investors seek safety

  24-11-2015 17:35 via news.yahoo.com
  
  NEW YORK (Reuters) - World stock markets fell while government debt prices rose on Tuesday as investors sought safety in low-risk assets after Turkish jets shot down a Russian warplane near the Syrian border.
  
  Read more

• US bank earnings rose 5.1 percent in July-September quarter

  24-11-2015 17:25 via news.yahoo.com
  
  WASHINGTON (AP) — U.S. banks' earnings rose 5.1 percent in the July-September quarter from a year earlier, largely because of a drop in legal expenses for the largest financial services companies.
  
  Read more

• Since '01, Clintons collected $35M from financial businesses

  24-11-2015 16:58 via news.yahoo.com
  
  WASHINGTON (AP) — Hillary Rodham Clinton wants voters to know she is no friend of Wall Street. But Wall Street has frequently been a friend to her.
  
  Read more

• US consumer confidence falls hard in November

  24-11-2015 16:16 via news.yahoo.com
  
  WASHINGTON (AP) — Confidence in the economy eroded this month as Americans became more worried about the job market.
  
  Read more

• MIDEAST STOCKS-Saudi rises, most markets fall on Turkey-Russia tensions

  24-11-2015 16:09 via news.yahoo.com
  
  * Saudi closes well off highs after Turkey news * Dar Al Arkan stabilises after land tax news * Arabtec pulls down Dubai after CEO change * Orascom Telecom continues slide after North Korea news * Commercial International Bank hit by forex worries By Andrew Torchia DUBAI, Nov 24 (Reuters) - Buying in some blue-chips lifted Saudi Arabia's stock market on Tuesday but most Middle Eastern markets fell in thin trade because of a lack of positive corporate news and Turkey's shooting down of a Russian
  
  Read more

• Indexes drop as global security worries intensify

  24-11-2015 15:55 via news.yahoo.com
  
  U.S. shares fell on Tuesday as investors turned to less-risky assets after Turkey shot down a Russian warplane, even as GDP data indicated healthier economic growth. Global security concerns intensified after Turkey said it shot down a Russian warplane that had violated its airspace near the Syrian border, and after the U.S. State Department issued a global travel alert for Americans. Crude oil prices were up about 2 percent on the prospect of more turmoil in the Middle East.
  
  Read more

• Make room for millennials in the kitchen this Thanksgiving

  24-11-2015 15:54
  
  NEW YORK (Reuters) - Etana Flegenheimer is upping her Thanksgiving budget this year. The Seattle-based search engine optimization specialist is having friends and family over. She is looking forward...
  
  Read more

• US economy grew at 2.1 percent rate in third quarter

  24-11-2015 15:29 via news.yahoo.com
  
  WASHINGTON (AP) — The U.S. economy grew at a slightly faster rate in the summer than previously reported, mainly because businesses restocked their goods at a stronger pace than first thought.
  
  Read more

• Inventories boost U.S. third-quarter GDP

  24-11-2015 15:28 via news.yahoo.com
  
      The Commerce Department on Tuesday said the nation's gross domestic product grew at a 2.1 percent annual pace, not the 1.5 percent rate it reported last month. While consumer spending was revised down a bit, its pace remained brisk.     The third-quarter's respectable expansion should set up the economy to achieve at least 2 percent growth in the second half of the year, around its long-run potential. In the wake of robust job growth in October and str
  
  Read more

• Nigeria central bank cuts rates for first time in six years

  24-11-2015 15:13 via news.yahoo.com
  
  Nigeria's central bank cut the benchmark interest rate in Africa's biggest economy to 11 percent from 13 percent on Tuesday, its first reduction in the headline cost of borrowing in more than six years. Governor Godwin Emefiele said members of the bank's monetary policy committee had voted by a margin of eight to two in favour of the reduction. The bank's monetary policy committee also decided to cut the cash reserve ratio to 20 percent from 25 percent, Emefiele said.
  
  Read more

• U.S. home prices rise faster in September, beat forecast

  24-11-2015 15:02 via news.yahoo.com
  
  The S&P/Case Shiller composite index of 20 metropolitan areas gained 5.5 percent in September on a year-over-year basis compared with 5.1 percent in the year to August. With unemployment at 5 percent and hints of higher inflation in the CPI, most analysts expect the Federal Reserve to raise its fed funds target range to 25 to 50 basis points, the first increase since 2006," said David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices. "While this
  
  Read more

• Wall Street set to open down as security worries intensify

  24-11-2015 14:51 via news.yahoo.com
  
  Wall Street was set to open lower on Tuesday as investors fled risky assets after Turkey shot down a Russian warplane, even as data pointed to stronger U.S. economic growth. The U.S. Commerce Department revised third-quarter GDP growth to an annual rate of 2.1 percent, in line with market expectations but up from 1.5 percent estimated previously. The data could give the Federal Reserve confidence to raise interest rates at its December meeting.
  
  Read more

• France, Germany propose 10 billion euro fund for refugee crisis: Macron

  24-11-2015 14:49 via news.yahoo.com
  
  BERLIN (Reuters) - France and Germany are proposing a 10 billion euro ($10.65 billion) fund to help tackle the refugee crisis facing Europe, French Economy Minister Emmanuel Macron said on Tuesday at an event in Berlin. Macron said other European countries could join in the fund. (Reporting by Reinhard Becker; Writing by Madeline Chambers; Editing by Paul Carrel)
  
  Read more

• U.S. third-quarter GDP growth revised up to 2.1 percent

  24-11-2015 14:37 via news.yahoo.com
  
  WASHINGTON, Nov 24 (Reuters) - - The U.S. economy grew at a healthier clip in the third quarter than initially thought, suggesting resilience that could help give the Federal Reserve confidence to raise interest rates next month. The Commerce Department on Tuesday said the nation's gross domestic product grew at a 2.1 percent annual pace, not the 1.5 percent rate it reported last month. While consumer spending was revised down a bit, its pace remained brisk.
  
  Read more

• Simsek to take charge of economy in new Turkish cabinet

  24-11-2015 13:50 via news.yahoo.com
  
  Former Turkish finance minister Mehmet Simsek will be in charge of the economy in a new cabinet named by Prime Minister Ahmet Davutoglu on Tuesday, becoming deputy prime minister in a team in which allies of President Tayyip Erdogan took key posts. The new cabinet comes after snap polls earlier this month in which the AK Party, founded by Erdogan, regained the single-party rule it had lost in a June 7 election, taking nearly 50 percent of the vote. Both men are highly regarded by investors and w
  
  Read more

• South Africa's Eskom says not 'desperate' to issue global bond

  24-11-2015 12:31 via news.yahoo.com
  
  South Africa's utility Eskom is not desperate to raise money through the sale of international bonds, its chief executive said on Tuesday, as the firm has enough funding to build its new coal-fired power stations. Eskom, which reported a 22 percent rise in half-year profit, is building the coal-fired Kusile and Medupi power stations to ease an energy crunch in Africa's most advanced economy. "We don't have to do a global bond issue.
  
  Read more

• South Africa avoids recession but economic growth sluggish

  24-11-2015 11:28 via news.yahoo.com
  
  South Africa's economy grew lower than expected in the third quarter but avoided a technical recession, helped by a recovery in the key manufacturing sector, data from the statistics agency showed on Tuesday. The numbers however indicated that Africa's most industrialised economy remains under stress, and might not achieve even the sluggish 1.5 percent 2015 growth target set by the National Treasury. Gross domestic product was up 0.7 percent in the third quarter after contracting 1.3 percent in
  
  Read more

• Politicians slam tax-avoiding Pfizer-Allergan deal

  24-11-2015 11:16
  
  WASHINGTON (Reuters) - U.S. politicians condemned Pfizer Inc's deal with Allergan Plc as a tax dodge on Monday, bringing another round of hand-wringing in Washington over the corporate tax code,...
  
  Read more

• Domestic spending lifts German economy in third quarter

  24-11-2015 11:06 via news.yahoo.com
  
  Berlin (AFP) - The German economy posted firm growth for the third quarter, boosted by consumer spending which is fast becoming a cornerstone for German economic expansion, data published Tuesday showed.
  
  Read more

• European stocks sink as instability fears vex investors

  24-11-2015 10:51 via news.yahoo.com
  
  HONG KONG (AP) — European stock markets opened sharply lower Tuesday as jitters about instability in the Middle East intensified while Asian stock markets dithered as slumping commodity prices weighed on shares of resource companies.
  
  Read more

• Philippines takes South China Sea claim to Hague court

  24-11-2015 10:48 via news.yahoo.com
  
  By Thomas Escritt AMSTERDAM (Reuters) - Lawyers for the Philippines will appear before a panel of international judges in The Hague on Tuesday, seeking a ruling that could bolster territorial claims by a series of countries against China in the resource-rich South China Sea. The Philippines is asking the Permanent Court of Arbitration to recognize its right to exploit waters within 200 nautical miles of its coastline, under the terms of a U.N. convention. China, which claims economic and territo
  
  Read more

• German business confidence unfazed by Paris attacks

  24-11-2015 10:40 via news.yahoo.com
  
  German business confidence bounced back in November as Europe's top economy shrugged off global uncertainty and the deadly jihadist assault in Paris, a leading economic think tank said Tuesday. The Ifo institute's closely-watched business climate index rose to 109 points in November from 108.2 points in October, Ifo said in a statement, surprising analysts polled by financial services firm Factset who had expected another dip to 108.1.
  
  Read more

• South Africa's Eskom in talks with Anglo American over coal supply for Kusile

  24-11-2015 10:24 via news.yahoo.com
  
  JOHANNESBURG (Reuters) - South Africa's Eskom will conclude talks with Anglo American over coal supply to its Kusile power station in the next three months, group executive Matshela Koko said on Tuesday. Eskom, which reported a 22 percent rise in half-year profit, is building the coal-fired Kusile and Medupi power stations to ease an energy crunch in Africa's most industrialised economy, where electricity supply shortages have hurt GDP growth. (Reporting by Tiisetso Motsoeneng; Writing by TJ Str
  
  Read more

• MIDEAST STOCKS-Bahri boosts Saudi Arabia, Egypt stays weak

  24-11-2015 09:49 via news.yahoo.com
  
  DUBAI, Nov 24 (Reuters) - Oil shipper Bahri boosted Saudi Arabia's stock market early on Tuesday while Egypt's market remained weak. The Saudi stock index added 0.9 percent as Bahri climbed 1.6 percent in unusually heavy trade. The company, which reported a 501 percent leap in third-quarter net profit last month, released details of its earnings late on Monday. Petrochemical producer Saudi Basic Industries rose 1.4 percent and real estate developer Dar Al Arkan, which had dropped 2.3 percent on
  
  Read more

Follow @FinanceUSA_News on Twitter!