Finance news

• TSX retreats on slide in resource stocks

  27-11-2015 22:45 via news.yahoo.com
  
  By Fergal Smith TORONTO (Reuters) - Canada's main stock index closed lower on Friday, driven by weakness in resource shares after a plunge in China equities weighed on commodity prices. Trading was thin, with Wall Street closing early following Thursday's holiday. "It's commodities again, generally, that are hurting the Toronto market and they will continue to do so until their prices bottom," said Norman Levine, managing director at Portfolio Management Corp. The energy sector fell 1.4 percent,
  
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• US, European stocks shrug off China sell-off

  27-11-2015 22:11 via news.yahoo.com
  
  US and European stock markets ended little changed Friday, shrugging off a steep sell-off in China sparked by news of investigations into several brokerages. Markets were closed Thursday for Thanksgiving Day, and closed three hours early Friday, at 1800 GMT. The National Retail Federation will release spending results for the Thanksgiving holiday weekend on Sunday.
  
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• BTG Pactual's reliance on market funding poses challenge for new boss

  27-11-2015 21:32
  
  SAO PAULO (Reuters) - The reliance of Brazil's Grupo BTG Pactual SA on market funding may pose an immediate challenge for new boss Persio Arida, who sought to calm clients on Friday after its shares...
  
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• Caesars appeals ruling on $364 million pension liability

  27-11-2015 20:19
  CHICAGO, Nov 27 (Reuters) - The bankrupt operating unit of
  Caesars Entertainment Corp (CEC) has appealed a ruling
  that would enforce payments of nearly $364 million in pension
  liabilities, according...
  
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• Wall Street ends flat; Disney, retailers dip on sales worries

  27-11-2015 19:58 via news.yahoo.com
  
  U.S. stock indexes ended little changed in light trading on Friday, with consumer stocks falling as investors fretted over early reports on the U.S. holiday shopping season and Disney's subscriber losses weighed on the market. U.S. stock markets closed three hours earlier following the Thanksgiving holiday on Thursday, with many traders taking the day off. "We're going to get today over with and hit the ground running next week," said Brian Battle, director of trading at Performance Trust Capita
  
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• Class action suit against Barclays alleges forex rigging losses

  27-11-2015 19:45
  
  (Reuters) - A New York-based investment adviser filed a class action lawsuit against Barclays Plc on Friday alleging that rigged foreign exchange trading practices at the bank caused "significant...
  
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• Canada housing agency sees looming hit from oil shock

  27-11-2015 19:33
  TORONTO, Nov 27 (Reuters) - Canada's federal housing agency is expecting to see more homeowners fall behind in their mortgage payments in the western part of the country as a prolonged slump in oil...
  
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• Wall Street ends near flat as investors eye holiday sales

  27-11-2015 19:18 via news.yahoo.com
  
  (Reuters) - The major U.S. stock indexes ended Friday little changed in light trading, with consumer stocks falling as investors fretted about early reports on the U.S. holiday shopping season. Wrapping up a short session following Thursday's Thanksgiving holiday, the Dow Jones industrial average fell 14.9 points, or 0.08 percent, to end at 17,798.49. The S&P 500 gained 1.24 points, or 0.06 percent, to 2,090.11 and the Nasdaq Composite added 11.38 points, or 0.22 percent, to 5,127.53. (Repor
  
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• Carney continues to see strong UK domestic demand

  27-11-2015 19:06 via news.yahoo.com
  
  Britain faces a difficult global economic environment but demand in its domestic economy remains strong, Bank of England Governor Mark Carney said in a regional newspaper interview published on Friday. Carney said Britain's economic expansion was not driven by excess borrowing, and that businesses were investing, in an interview with the Gazette, a newspaper based in Teesside, northeastern England. "It is a pretty unforgiving global environment.
  
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• India's Modi meets Sonia Gandhi to discuss new indirect tax

  27-11-2015 18:47 via news.yahoo.com
  
  By Rupam Jain Nair NEW DELHI (Reuters) - Indian Prime Minister Narendra Modi hosted opposition Congress party leader Sonia Gandhi for talks on Friday to try and break a deadlock over launching a new indirect tax, in a bid to put his economic recovery agenda back on track. The face-to-face meeting between the rivals was the first since Modi rose to power 18 months ago, and could herald a long-awaited compromise on the proposed goods and services tax (GST), billed as the biggest tax reform since i
  
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• Russian raids repeatedly hit Syrian Turkmen areas, Moscow's data shows

  27-11-2015 18:45 via news.yahoo.com
  
  By Jack Stubbs and Humeyra Pamuk MOSCOW/ISTANBUL (Reuters) - Russian air strikes in northwest Syria have heavily targeted ethnic Turkmen areas, according to a Reuters data analysis that helps explain rising tensions between Moscow and Ankara in the weeks before Turkey shot down a Russian warplane. Tuesday's incident marked the biggest clash between a NATO member and Russia in half a century, and has drawn threats of economic retaliation from the Kremlin. Turkey says the plane strayed into its ai
  
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• Brazil to freeze 10 bln reais in spending to comply with law

  27-11-2015 18:26
  BRASILIA, Nov 27 (Reuters) - Brazilian President Dilma Rousseff will issue a decree to freeze an additional 10 billion reais ($2.65 billion) in expenditures to comply with the fiscal responsibility...
  
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• Wall St. flat as Disney weighs; retailers off on sales worries

  27-11-2015 18:24 via news.yahoo.com
  
  (Reuters) - Wall Street was little changed in light trading on Friday, with consumer stocks falling as investors worried about early reports on the U.S. holiday shopping season and Disney weighed.
  
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• UPDATE 1-ECB deposit rate not a barrier for sinking German five-year yields

  27-11-2015 18:09
  LONDON, Nov 27 (Reuters) - The yield on five-year German government bonds hit a record low below the European Central Bank's -0.20 percent deposit rate on Friday, adding to signs that markets are...
  
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• Creditors of Spain's Abengoa to meet KPMG on Monday-source

  27-11-2015 17:56
  MADRID, Nov 27 (Reuters) - Various bank creditors of Spain's Abengoa will meet KPMG on Monday, a source involved in the talks said on Friday.
  
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• Bank of Canada to keep rates on hold, wait for stronger U.S. : poll

  27-11-2015 17:38 via news.yahoo.com
  
  After shocking markets with an interest rate cut at the start of the year, the Bank of Canada is expected to end 2015 on a more sedate note, holding rates steady through next year and waiting for better U.S. growth to provide a boost, a Reuters poll found. While the U.S. economy is performing well, Canada's economy slipped into a mild recession in the first half of the year following a crash in the price of oil, a key export. The United States is by far Canada's biggest trading partner.
  
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• Media stocks dip as Disney reveals subscriber losses at ESPN

  27-11-2015 17:34 via news.yahoo.com
  
  (Reuters) - U.S. media stocks fell on Friday after Walt Disney Co's disclosure of a drop in subscribers at ESPN spooked investors, underscoring concerns that viewers are increasingly opting for online streaming over pay TV. Disney's shares were down 3.6 percent at $114.44, weighing the most on the Dow Jones industrial average on a relatively quiet day for the U.S. stock markets after Thanksgiving holiday. Time Warner Inc's shares were down 1.2 percent, Twenty-First Century Fox Inc 1.4 percent an
  
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• Swiss court convicts ex-HSBC employee for leaking bank data

  27-11-2015 17:13 via news.yahoo.com
  
  GENEVA (AP) — A Swiss court has convicted in absentia a former employee with international bank HSBC for economic espionage and sentenced him to five years in prison.
  
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• Wall St flat as Disney weighs; holiday sales in focus

  27-11-2015 16:56 via news.yahoo.com
  
  Wall Street was little changed on Friday, a shortened trading day, as investors turn their focus to the crucial U.S. holiday shopping season and Disney weighed on indexes. U.S. markets were shut on Thursday for Thanksgiving. Dow component Walt Disney fell 3.6 percent to $114.46, after the media giant said late on Wednesday that its ESPN sports network lost 3 million subscribers in 2015.
  
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• GLOBAL MARKETS-China stocks hit hard, rest of world shrugs

  27-11-2015 16:55
  * Dollar up against euro, Swiss franc ahead of ECB, SNB next week
  
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• Forecast lowered for air travel on slower China growth

  27-11-2015 16:38 via news.yahoo.com
  
  WASHINGTON (AP) — A weaker global economy — and a slowdown in China — will likely dampen some of the growth in air travel over the next two decades.
  
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• BRIEF-Bank of Canada C$1.6 bln t-bill tender yields avg .562 pct

  27-11-2015 16:37
  Nov 27 (Reuters) - Bank Of Canada C$1.6 billion 10-day t-bill tender yields average .562 percent
  
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• TREASURIES-U.S. bond prices rise as world stock markets drop

  27-11-2015 16:28
  * U.S. bond market to close early at 2 p.m. (1900 GMT) (Updates market action, adds quote)
  
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• Toyota exports Venezuelan-made parts to keep ops afloat

  27-11-2015 16:25 via news.yahoo.com
  
  Toyota's Venezuela unit has started exporting locally made car parts to generate hard currency income and help it withstand the OPEC country's economic crisis. What was once South America's third-largest automotive industry has taken a hit as stagnation in oil production and a complex currency control system stymie private businesses' access to foreign currencies and ability to import supplies. Toyota and other fellow assembly plants have had to reduce production for lack of spare parts, due to
  
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• EMERGING MARKETS-Latam currencies seesaw on thin post-Thanksgiving volume

  27-11-2015 16:20
  SAO PAULO, Nov 27 (Reuters) - Latin American currencies seesawed in thin volumes on Friday as many traders were still away from their desks following the Thanksgiving holiday in the United States....
  
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• VEB's $20 bln bailout request casts harsh light on development bank's operations

  27-11-2015 16:19
  MOSCOW, Nov 27 (Reuters) - A $20 billion bailout request from Russia's state development bank is raising questions about the running of a lender which helped fund the Sochi Olympics in 2014.
  
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• CANADA FX DEBT-Canadian dollar falls on weakness in crude oil

  27-11-2015 16:13
  * Canadian dollar at C$1.3367 or 74.81 U.S. cents * Bond prices mixed across the maturity curve TORONTO, Nov 27 (Reuters) - The Canadian dollar weakened against a broadly firmer U.S. dollar on...
  
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• SALLIE KRAWCHECK: My advice for women wanting to break into Wall Street or Silicon Valley

  27-11-2015 16:02 via news.yahoo.com
  
  Reuters Sallie Krawcheck: “Network, network, network, network.” Networking … Continued The post SALLIE KRAWCHECK: My advice for women wanting to break into Wall Street or Silicon Valley appeared first on Business Insider.
  
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• Abengoa chaos leaves yieldco in fragile position

  27-11-2015 16:00
  LONDON, Nov 27 (IFR) - Abengoa's decision to seek creditor protection has raised concerns around how insulated its US-listed yieldco is from the unravelling finances of its Spanish parent.
  
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• Wall St slips as Disney weighs; holiday sales in focus

  27-11-2015 15:58 via news.yahoo.com
  
  Wall Street was slightly lower on Friday, a shortened trading day, as investors turn their focus to the crucial U.S. holiday shopping season and Disney weighed on indexes. Dow component Walt Disney fell 3.3 percent to $114.80, after the media giant said late on Wednesday that its ESPN sports network lost 3 million subscribers in 2015. The National Retail Federation is expecting holiday sales to rise 3.7 percent, slower than last year's 4.1 percent increase.
  
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• TREASURIES-U.S. bonds hold gains after Wall Street open

  27-11-2015 15:45
  NEW YORK, Nov 27 (Reuters) - U.S. Treasuries prices clung to earlier gains on Friday as Wall Street stocks opened little changed following the U.S. Thanksgiving holiday.
  
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• PRESS DIGEST- Canada- Nov 27

  27-11-2015 15:42
  Nov 27 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
  
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• UPDATE 1-Spain's troubled Abengoa changes boss amid creditor talks

  27-11-2015 15:36
  MADRID, Nov 27 (Reuters) - The chief executive of Spanish renewable energy and engineering group Abengoa stepped down on Friday just two days after the indebted company began insolvency proceedings.
  
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• RPT-Last year's investment pariah Russia comes in from the cold

  27-11-2015 15:28
  LONDON, Nov 27 (Reuters) - Russia is returning from the investment wilderness after last year's oil price collapse and Western business sanctions with funds attracted by falling interest rates and a...
  
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• Moody's, S&P ratings on South African power firm Eskom unchanged

  27-11-2015 15:20 via news.yahoo.com
  
  Ratings firms Moody's and Standard and Poor's kept South African utility Eskom's credit status unchanged, saying recent cash injections by government had eased a funding crunch, the power firm said on Friday. Moody's affirmed the Ba1, or speculative grade, rating of state-owned Eskom's [ESCJ.UL] senior unsecured credit rating with a stable outlook, while S&P also kept the power utility's local and foreign currency corporate credit rating unchanged at BB+, with a negative outlook. The state h
  
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• A Christmas Present to Wall Street Could Shut Down the Government

  27-11-2015 15:00 via news.yahoo.com
  
  Add attempts to roll back Wall Street reform to the list of things that might cause a government shutdown next month, when Congress comes to grips with the need to pass an omnibus government spending bill before a December 11 deadline. Treasury Secretary Jack Lew on Wednesday wrote an op-ed for Bloomberg View in which he said that he would advise the president to veto any spending bill that included significant rollbacks to the Dodd-Frank Wall Street reform law that was passed in 2010, following
  
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• HSBC to close India private banking unit as competition grows

  27-11-2015 14:35 via news.yahoo.com
  
  By Sumeet Chatterjee MUMBAI (Reuters) - HSBC Holdings Plc is closing its private banking unit in India as part of its group strategy, the bank said, marking the exit of another foreign bank from the cut-throat wealth management business in Asia's third-largest economy. The bank would offer private banking clients the choice to move to HSBC Premier, the bank's global retail banking and wealth management platform, a Mumbai-based spokesman said. "After a strategic review of the global private banki
  
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• Turkey's Erdogan warns Russia not to 'play with fire'

  27-11-2015 14:22 via news.yahoo.com
  
  Turkish President Tayyip Erdogan warned Russia not to "play with fire" on Friday, but added he did not want to harm relations with Moscow, comments that look more likely to inflame than quell the dispute over a downed Russian bomber this week. Relations between the former Cold War antagonists are at their worst in recent memory after Turkey shot down the jet near the Syrian border on Monday. Russia has threatened economic retaliation against Ankara, which Erdogan has dismissed as "emotional" and
  
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• GLOBAL MARKETS-Black Friday for China stocks but metals not so heavy

  27-11-2015 14:22 via news.yahoo.com
  
  The Shanghai Composite index and the CSI300 both saw their biggest one-day drops in more than three months and ensured it was set to be a subdued post- Thanksgiving session for Wall Street. "There is clearly a risk that China will try and devalue the currency further," said Ankit Gheedia, equity and derivative strategist at BNP Paribas (Xetra: 887771 - news) . "(However) Europe is still trading on the ECB next week, which is why the market is relatively resilient," he said referring to expectati
  
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• Survey shows German consumers losing confidence

  27-11-2015 14:18 via news.yahoo.com
  
  BERLIN (AP) — A closely-watched survey shows German consumers are losing confidence amid growing concerns of an economic slump.
  
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• Spanish government says Abengoa viable, needs partner

  27-11-2015 14:17
  MADRID, Nov 27 (Reuters) - Spain's Economy Minister Luis de Guindos said on Friday that the government believed troubled renewable energy group Abengoa was viable, though it was waiting for more...
  
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• Advisers need a plan before rolling out tech tools

  27-11-2015 14:17
  
  (Reuters) - In the race to compete with low-cost, online algorithm-based investing services, financial advisers are constantly bombarded by sales pitches about the latest and greatest in financial...
  
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• BRIEF-Eskom says Moody's, S&P affirm co's credit ratings

  27-11-2015 14:09
  * Moody's investors service has affirmed Eskom's BA1 senior unsecured credit rating with a stable outlook
  
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• BRIEF-Lithuanian Shipping: general director applies for company bankruptcy proceedings

  27-11-2015 14:06
  * Says its general director applied to District Court of
  Klaipeda to initiate company bankruptcy proceedingsSource text for Eikon:
  
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• Brazil's BTG Pactual reviewing allegations against CEO Esteves

  27-11-2015 13:48
  SAO PAULO, Nov 27 (Reuters) - Independent board members at Brazilian investment bank BTG Pactual SA are reviewing the facts related to allegations against controlling shareholder André Esteves,...
  
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• Brazil loan defaults hit two-year high in October

  27-11-2015 13:45
  BRASILIA, Nov 27 (Reuters) - Bank loans delinquent for at least 90 days in Brazil edged up slightly in October to their highest in two years, the central bank said on Friday, as rising unemployment...
  
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• Spotlight on expenditure as South African budget comes under strain

  27-11-2015 13:37 via news.yahoo.com
  
  By Stella Mapenzauswa JOHANNESBURG (Reuters) - Crafting South Africa's budget has become a headache for Finance Minister Nhlanhla Nene: labour union allies accuse him of being tight-fisted, while opponents say he's pouring too much money into areas like the civil service that don't help grow the economy. Africa's most industrialised economy has struggled to balance its finances since coming out of a recession in 2009. The huge government wage bill is likely to be a key factor next week when Stan
  
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• Central, eastern Europe protest Russian gas pipeline project

  27-11-2015 13:26 via news.yahoo.com
  
  PRAGUE (AP) — Slovakia's economy minister says his country will join forces with other Central and Eastern members of the European Union to protest a recent deal to expand a pipeline that delivers natural gas directly from Russia to Germany.
  
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• UPDATE 1-Poland seeks to reassure on health of its banks

  27-11-2015 13:05
  WARSAW, Nov 27 (Reuters) - The Polish banking sector remains
  sound despite the costs incurred from this week's failure of SK
  Bank, the economic adviser to the country's president said on
  Friday.
  
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• Eurogroup warns of 'mini-Schengen' if EU fails on migrant issue

  27-11-2015 12:42 via news.yahoo.com
  
  Eurogroup chief Jeroen Dijsselbloem warned Friday that a small group of EU countries may be forced to form a "mini-Schengen" if the bloc fails to resolve its migrant crisis. Such a step would have negative political and economic consequences for us all," he told German business newspaper Handelsblatt of the possibility of reducing the 26-member passport-free Schengen zone to a core group of just five or six countries. Urging member states to shoulder their fair share of the migrant burden, Dijss
  
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